NEWS
Zambia Seeks Dangote’s Assistance in Developing Fertiliser Industry
By Edozie Obasi-Eze
The Zambian Minister of Commerce and Industry, Chipoka Mulenga, has sought the assistance of the President, Dangote Group, Aliko Dangote in the development of his country’s agricultural sector.
He made the request while leading led a delegation from Zambia on tour of the 3.00 million metric tonnes Dangote Fertiliser plant at the weekend, where he also expressed a desire for a collaboration between Dangote Group and the Zambian government in the establishment of fertiliser plant in the southern African country.
Mulenga expressed belief that any investment in fertiliser production will not only help the country to be self-sufficient in food production, it will also help grow the Zambian economy as well as that of the neigbouring countries.
According him, the Zambian government has created an enabling environment for local and foreign investment through great incentives to attract investment in all sectors of the economy.
“The Zambian government in the last budget made some pronouncements which focus on value addition, industrialisation, skill enhancement and development. We have a huge youthful population who are ready to work if given the opportunity to be productive,” he said.
He described Zambia as Africa’s new investment destination because of its stable political system, stable macroeconomic environment and investment protection guarantees.
He said that Zambia is strong in agriculture and even seeking to become stronger through having its own Fertiliser plant. “Rather than continue to import Fertiliser from anywhere, we want Aliko Dangote to come and establish plant in Zambia. The country’s fertiliser consumption has increased tremendously in the last few years and has continued to increase. I am happy that we no longer have to go outside of Africa to seek investors. Dangote has been able to change the narratives through his investment in cement production across Africa. We now have Africans investing in the Africa continent. Dangote has already established the biggest cement plant in Zambia. Dangote Cement Zambia has a remarkable portfolio and is bringing positive change to the cement industry, not only in Zambia, but also to other neigbouring countries,” he added.
READ ALSO: Q2 Results: Dangote Cement Grows Revenue by 17% to N808bn
Mulenga commended the President/CE of Dangote Group, Aliko Dangote for investing massively in fertiliser production in Nigeria. “This could only happen because the company put the right people, right leadership, right technical skills and the right management in place to have such a remarkable result. This Fertiliser Plant is not only serving the needs of Nigeria, but also attracting foreign exchange into the continent. This is a good demonstration that we can have this kind of investment in any part of Africa, which can grow and be beneficial to other countries.”
He therefore enjoined Nigerians to guard Dangote investments and other local investments in Nigeria. “Let all Nigerians support this investment to grow from strength to strength. This is amazing and we will like to have a similar investment in Zambia.”
On his part, Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha said demand for Urea fertiliser in the Nigerian market and beyond remains robust and is expected to continue to grow.
According to him, the $2.5 billion fertiliser complex would make Nigeria self-sufficient in fertiliser production with excess capacity exported to other African countries and the rest of the world.
“The key focus of Dangote Fertiliser has always been to cater to the growing fertiliser demand of the domestic market in Nigeria and also to work towards bringing a green revolution in the country so as to contribute towards food security for Nigeria. The surplus production after supplying the domestic market is exported,” he added.
Sinha stated that Dangote Fertiliser is positioned to take advantage of the Federal Government’s policy, which focuses on agriculture as one of the keys to unlock the diversification of the Nigerian economy.
“As population is increasing, food consumption is changing. Many countries’ economic progress is linked to agricultural development, which is the best form of inclusive development. For all the countries that I have been to, I can see the potential of agriculture in the entire value chain from the farm to the kitchen in Nigeria.
“Dangote Fertiliser has the potential to transform the entire African region. Definitely it will have a huge value on the country,” he added.
Sinha described Dangote Fertiliser plant as a company which will not only increase food-sufficiency in Nigeria, but also drastically reduce the level of unemployment and youth restiveness in the country through the generation of direct and indirect employment.
The Federal High Court in Abuja has sentenced a Boko Haram member, Alkali Yarima, also known as La’ari, to death by hanging for his involvement in the 2015 terrorist attacks on Maiduguri, Borno State.
Justice James Omotosho delivered the judgment on Friday, finding Yarima guilty of participating in acts of terrorism that led to the deadly attacks.
The court also imposed multiple prison terms on the convict for other terrorism-related offences.
SEE ALSO: MNJTF Commander Pledges End to Boko Haram Insurgency in Borno
Aside from the death sentence on count seven, the court sentenced Yarima to life imprisonment on count six for receiving arms and weapons training in preparation for carrying out terrorist activities.
Justice Omotosho also handed him 35 years imprisonment on count one for professing membership of the proscribed Boko Haram terrorist group, and 30 years imprisonment on count five.
In addition, the court sentenced him to 10 years imprisonment each on counts two, three and four.
The Federal Government had arraigned Yarima on a seven-count charge marked FHC/KNJ/CR/971/2026, filed by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), on behalf of the Attorney-General of the Federation.
According to the prosecution, Yarima, who hails from the Lawanti area of Mafa Local Government Area of Borno State, belonged to Boko Haram between 2009 and 2015 before his arrest.
He was also accused of accepting the teachings (Da’awah) of the sect’s late founder, Mohammed Yusuf, and remaining a member of the terrorist organisation despite its proscription.
The prosecution further told the court that Yarima travelled to an Arab country where he received training in arms and weapon handling in preparation for terrorist operations, an offence punishable under the Terrorism (Prevention Amendment) Act, 2013.
He was also found guilty of participating in the 2015 attacks on Maiduguri, an offence that attracted the death penalty under Section 2(1) of the Terrorism (Prevention Amendment) Act, 2013.
The trial, which is usually conducted in Kainji, Niger State, was moved to the Federal High Court in Abuja.
Speaking after the judgment, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), reaffirmed the Federal Government’s resolve to eliminate terrorism in Nigeria.
“We will fight with every inch of our blood to ensure that we make Nigeria a safe place for everybody,” Fagbemi said.
The Dangote Petroleum Refinery and Petrochemicals (DPRP) has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,175 to N1,125 per litre.
A statement from the company on Thursday has it that this latest adjustment reflects the refinery’s ongoing commitment to ensuring price stability, improving affordability, and supporting Nigeria’s energy security objectives.
ALSO READ: NBS: Kerosene Price Dips as Diesel, Petrol Costs Rise
The price review underscores Dangote Refinery’s responsiveness to prevailing market conditions and its efforts to pass on cost efficiencies to downstream partners and consumers.
“Dangote Refinery remains focused on its broader mission of contributing to economic growth, enhancing fuel availability, and fostering a more competitive and sustainable petroleum sector in Nigeria,” the statement added.
The Securities and Exchange Commission (SEC) has explained why it directed capital market operators to immediately refund funds collected from investors in connection with a purported Initial Public Offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE.
In a public notice issued on Tuesday, the Commission revealed that it had observed the circulation of advertisements, flyers, digital banners, and electronic messages across social media and investment platforms inviting members of the public to invest in the refinery through an alleged IPO.
ALSO READ: ‘Nigerian Marketers Import Dangote Fuel Via Lome Hub’
According to the SEC, the purported offer has not received regulatory approval, as the Commission has neither received nor approved any application from Dangote Petroleum Refinery & Petrochemicals FZE for a public offering.
The regulator expressed concern that some registered capital market operators were actively promoting the unapproved offer and soliciting subscriptions from prospective investors.
Explaining the reason for its directive, the SEC stated that the campaign was misleading and amounted to market manipulation capable of creating false expectations among investors and undermining confidence in Nigeria’s capital market.
The Commission noted that invitations encouraging members of the public to open accounts, pre-fund investments, or reserve guaranteed share allocations for the alleged IPO violate provisions of the Investments and Securities Act as well as existing market regulations.
As a result, the SEC ordered all registered operators, including stockbrokers and promoters of digital investment platforms, to immediately cease all advertising and promotional activities relating to the purported offer.
The Commission further directed operators to remove all related promotional materials from their websites, social media pages, and other communication channels within 24 hours.
In addition, firms were instructed to stop accepting deposits, investment commitments, account registrations, or expressions of interest linked to the alleged public offering.
To protect investors from potential losses, the SEC ordered any operator that had already collected funds in connection with the purported IPO to refund such monies within 24 hours.
The regulator warned that any operator that fails to comply with the directive risks facing sanctions under the Investments and Securities Act 2025 and the SEC Rules and Regulations.
The Commission also advised Nigerians to rely only on information released through approved regulatory channels and to ignore unofficial promotional campaigns or investment solicitations concerning the refinery.
SEC added that if Dangote Petroleum Refinery & Petrochemicals FZE eventually decides to proceed with a public offering and secures regulatory approval, an authorised prospectus will be published in line with the law.
The directive comes amid reports that the Dangote Group is considering listing a 10 per cent stake in its $20 billion refinery through a Pan-African IPO expected in 2026.
New Plant Boosts Apex African Gas’ Production Capacity
Blockbuster Mayweather-Pacquiao Rematch Thrown Into Limbo Amid Legal Crisis
Police Nab 21-Year-Old With Suspected Human Hand, Guns in Lagos
AAC Senatorial Candidate Chioma Ifemeludike Withdraws from 2027 Race
TotalEnergies Shares Competitive Growth Strategy
Justice at Last: Boko Haram Member Sentenced to Death for 2015 Maiduguri Terror Attack
Trump’s Family Unveils New Cryptocurrency Platform
Senate Denies Receiving Petitions Against Tinubu’s Ambassadorial Nominees
Dangote Cement Lights Up Benue Host Communities With CSR Initiatives
Reps Recommend 3-year Jail Term For Aviation minister
Tems Sets New Record On Billboard Hot 100 Chart
