The Central Bank of Nigeria might start lending to companies directly by buying their commercial papers.Speaking on Tuesday while announcing the decision of monetary policy committee of the apex bank, Godwin Emefiele, CBN governor, said the bank will be willing to buy if the papers are issued at single digits."The committee believes that the Bank should continue to encourage deposit [...]
Tag "dangote group"
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Aliko Dangote, a Nigerian businessman, says private companies should donate one percent of their annual profit for the funding of the health sector.The head of Dangote Group made this statement while answering questions on Thursday after the expanded national economic council presided over by Vice President Yemi Osinbajo."We have had a very good meeting and one of the things that we [...]
Babatunde Fashola, minister of power, works and housing, says the Dangote group has decided to extend the construction of Apapa Wharf road.The minister made this known while speaking at the Lafarge Road Construction Summit in Lagos on Friday.In June, the federal government signed a N4.34 billion memorandum of understanding on the road to be paid for by Flour Mills of Nigeria, [...]
Aliko Dangote, Africa's richest man and president of Dangote group, has recorded a $1.1 billion increase in fortune over the last six days.The increase in Dangote's fortune is due to the rally currently being recorded at the Nigerian Stock Exchange (NSE) over the week.TheCable understands that NSE has gained N1.06 trillion in June alone, and about 30 percent of that [...]
Aliko Dangote, the chief executive officer of Dangote Group, says his prayer is for his company to start holding its annual general meetings in stadiums.Dangote, who turned 60 on Monday, said his group of companies will eventually create up to three million shareholders.While promising to spread prosperity to Nigerians, he said all his companies will be listed on the stock exchange, [...]
You know Aliko Dangote as Africa's richest man for four consecutive years, and the largest employer of labour in Nigeria -- after the federal government. But, like everyone of us, all that makes the billionaire is not a single story of business and wealth.Today, Dangote is 60, and a towering giant in Nigeria's socio-political and economic landscape. As the first [...]
Dangote Rice Limited will launch a 25,000-hectare "rice outgrower" scheme in 14 states, beginning with Jigawa and Sokoto, on Wednesday.In a statement on Monday, the company said the aim of the scheme is to reduce Nigeria's food import bill.The statement said the company would produce 225,000 metric tonnes (MT) of parboiled, milled white rice by the end of 2017."The flag [...]
Aliko Dangote, Nigerian entrepreneur, aims to create 3,000 jobs with the establishment of a truck assembly plant in Ikeja, Lagos.The plant is the result of a partnership between the Dangote group and Sinotruck, a Chinese heavy-duty truck company."The decision to go into the truck assembly plant project was informed by the need to conserve forex in view of the current economic [...]
Aliko Dangote, president of Dangote group, has advised the federal government to take back the assets it sold earlier and give it to people who "really have money" to manage them.According to Daily Trust, Dangote said this in Plateau state during the senior executive session of course 38 at the National Institute of Policy and Strategic Studies (NIPSS), Kuru.The billionaire [...]
The Lagos State Emergency Management Agency (LASEMA) says it had put an end to a fire outbreak at Dangote Noodles, one of the offices of Dangote Group in Ikorodu, Lagos.In a statement by Adesina Tiamiyu, managing director of LASEMA, the agency said no single casualty was recorded as all fire services in the region collaborated to quell the outbreak."Report on [...]
Dangote Foundation, owned by Aliko Dangote, Africa’s richest man, is taking micro grants to 774 local government areas (LGAs) across Nigeria.Speaking to the scheme on Thursday, the Dangote Group said it had taken off in Kano, Bauchi, Kaduna, Kogi and Gombe states.“We are pleased to announce the launch of Dangote Foundation micro grant scheme in Lagos State. #DangoteMicroGrant,” the group [...]
The Oxford Business Group (OBG) has tipped Nigeria for better fuel import profile, following the apparent reforms in the nation’s downstream oil sector.The business group which analysed the possibility of seven functional refineries in Nigeria, said the country is set to cut oil imports as it would inch closer to meeting its fuel needs.In a report released on Monday, the global publisher [...]
Aliko Dangote, Africa's richest man and president of Dangote Group, has challenged private investors in Nigeria to rise to the economic challenges of the country by initiating fresh investments in manufacturing and agriculture. He said that despite the challenges, Nigeria still remains the destination of choice for investments.Addressing business executives in Lagos on the new initiatives of his pan African conglomerate, [...]
The board of directors of the African Development Bank (AfDB) has approved a $300 million loan facility for Dangote Group to enable the conglomerate boost fuel supply and fertiliser production in Nigeria.The loan was approved for Dangote Industries Ltd for the construction and operation of Greenfield crude oil refinery and Greenfield fertiliser manufacturing plant."Both projects are expected to help Nigeria [...]
Two oil firms, Mid Oil and South Atlantic Petrochemical Company, have sent proposals to the Lagos State government towards establishing refineries in the state.The two firms are proposing a 100,000-barrel-per-day refinery each, to be located at Ejinrin and Badagry, respectively.The firms have received the nod of the Department of Petroleum Resources (DPR) —the industry regulator — and are hoping to [...]
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