Moving beyond oil refining, petrochemicals, and fertilizer production, Africa’s richest man, Aliko Dangote, has revealed an ambitious plan to enter the electricity sector, targeting a power project capable of generating 20,000 Megawatts (MW). The African industrialist confirmed this new plan during an interview with the Managing Director of the International Finance Corporation (IFC), Makhtar Diop. …
Africa’s leading industrialist, Aliko Dangote, has reiterated his position that true industrialisation of the continent can only be achieved by African investors leading the charge, not foreigners. Dangote argued that the continent must reduce its dependence on foreign investors to achieve sustainable economic growth. Speaking during a presidential panel session at an infrastructure summit in …
Africa’s richest industrialist, Aliko Dangote, has been named in the 2026 TIME100 list of the world’s most influential people, reinforcing his global standing as a key driver of industrial growth on the continent. The list, released on April 15 by TIME Magazine, features leading figures across politics, business, technology and culture, including Donald Trump, Xi …
Africa's richest man, Aliko Dangote, has warned that Nigeria and the broader African continent will face severe economic consequences if the ongoing Middle East conflict continues to escalate. Speaking on Monday after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu at his Ikoyi residence in Lagos, Dangote cautioned that while Nigeria has no …
Africa's richest man and President of the Dangote Group, Aliko Dangote, has called on the Nigerian government to take necessary steps towards addressing longstanding power sector challenges, warning that the country’s quest for industrial development will remain a mirage with persisting unstable electricity supply. Speaking at the launch of the Nigeria Industrial Policy (NIP) 2025 in …
Chairman of Dangote Industries Limited (DIL), Aliko Dangote, has escalated an alleged corruption case against the former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, at the headquarters of the Economic and Financial Crimes Commission (EFCC). The petition was submitted through Dangote’s legal representative, barely 24 hours after he …
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has received a notice of withdrawal of petition against the immediate past Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Aliko Dangote. The Commission said notice of withdrawal of the petition was submitted by legal counsel to Alhaji …
Dangote Petroleum Refinery has debunked a report circulating in sections of the media claiming that the refinery is shutting down due to maintenance issues. In a statement released on Monday, the refinery management described the reports as “false and misleading” and accused fuel importers of deliberately sponsoring such fabrication because they felt their commercial interests …
Nigerians have demanded a full probe into allegations of graft levelled against the immediate past Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMPRA), Engr Farouk Ahmed, and prosecution if found guilty. They stated that the sudden resignation of Ahmed from his position should not hinder the investigation process. Ahmed, who was …
Nigerians have called on the Nigerian National Petroleum Company (NNPC) Limited to drop its pump prices of petrol below what is sold by Dangote Refinery distribution partners. This public demand further highlights a fascinating shift in Nigeria’s downstream oil market, now characterized by rising competition between the state-owned oil firm and private marketers. The public …
