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DANGOTE INDUSTRIES COMPLETES ISSUANCE OF ₦187.6BN SERIES 1 FIXED RATE SENIOR UNSECURED BOND, MARKING NIGERIA’S LARGEST CORPORATE BOND ISSUANCE

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DANGOTE INDUSTRIES COMPLETES ISSUANCE OF ₦187.6BN SERIES 1 FIXED RATE SENIOR UNSECURED BOND, MARKING NIGERIA’S LARGEST CORPORATE BOND ISSUANCE

DANGOTE INDUSTRIES COMPLETES ISSUANCE OF ₦187.6BN SERIES 1 FIXED RATE SENIOR UNSECURED BOND, MARKING NIGERIA’S LARGEST CORPORATE BOND ISSUANCE

By Olorunfemi Adejuyigbe

DANGOTE INDUSTRIES COMPLETES ISSUANCE OF ₦187.6BN SERIES 1 FIXED RATE SENIOR UNSECURED BOND, MARKING NIGERIA’S LARGEST CORPORATE BOND ISSUANCE

 

 

Dangote Industries Limited (“DIL” or the “Group”), one of the leading, diversified and fully integrated conglomerate in Nigeria and Africa, is pleased to announce the successful completion of its ₦187.6bn Series 1 Bond Issuance (the “Transaction”), which is the largest corporate bond ever issued in the history of the Nigerian capital market

 

 

This landmark transaction represents the first issuance by DIL at Group level and comprises of a 7-year Tranche-A bond issued at 12.75% and a 10-year Tranche-B bond issued at 13.50%, under the newly established NGN300 billion Debt Issuance Programme

 

 

 

 

 

 

 

 

The bond issuance was well received by the market and recorded participation from a wide range of investors including domestic pension funds, asset managers, insurance companies and high net-worth investors. DIL plans to utilize the net proceeds from the Series 1 bond issuance to part-finance the Dangote Petroleum Refinery Project, an Integrated Petrochemical Complex, and the largest Single Train Petroleum Refinery in the World.

 

 

Standard Chartered Capital & Advisory Nigeria Limited acted as the Lead Issuing House and Bookrunner on Transaction, while Meristem Capital, Stanbic IBTC Capital, Vetiva Capital, Absa Capital Markets, Afrinvest Capital, Coronation Merchant Bank, Ecobank Development Company, FBNQuest Merchant Bank, FCMB Capital Markets, Greenwich Merchant Bank, Quantum Zenith Capital, Rand Merchant Bank Nigeria and United Capital acted as Joint Issuing Houses.

 

 

 

 

 

 

 

 

 

 

Commenting on the significance of the Transaction, Mr. Olakunle Alake, Group Managing Director of Dangote Industries, said:

 

 

“Dangote Industries is delighted to have successfully conducted its debut issuance under our newly established Debt Issuance Programme. We are very pleased to have set this remarkable milestone, showcasing the depth and liquidity of the Nigeria Debt Capital Market. The success of this transaction further demonstrates investor confidence in our credit story and the appreciation of the work done by the Group across several key sectors that are crucial to the development of the continent. The proceeds from this landmark transaction will be used to part-finance the Dangote Petroleum Refinery Project which is the initiative by the Group to establish the largest refinery in Africa, thus positioning Nigeria as a net exporter of refined crude. We want to specially thank the investor community for their support on this transaction, as well as our various advisors and stakeholders.”

 

 

 

 

 

 

 

 

 

 

 

Also speaking on the transaction, Mr. Olukorede Adenowo, Standard Chartered’s Executive Director, Corporate, Commercial and Institutional Banking, Nigeria & West Africa, said:

 

 

“On behalf of the Issuing Houses, we are proud to have led this historic transaction which reflects the strong credit quality of the issuer as well as the resilience of the Nigerian domestic debt capital markets, despite the current global market volatility. We thank the Board and Management of the Dangote Group for continuously striving to develop the domestic debt capital markets and setting records through its various issuances both at the subsidiary and Group levels. We also thank the Securities & Exchange Commission, Nigerian Exchange Limited (“NGX”) and FMDQ Securities Exchange Limited (“FMDQ”) for their unwavering support throughout this entire process.”

 

 

 

 

 

 

 

 

 

 

The Bond notes will be listed on the NGX and FMDQ.

 

About the Issuer:

Dangote Industries is one of the leading, diversified and fully integrated conglomerate with operations in Nigeria and Africa across a wide range of industries, including cement, sugar, salt, condiments, packaging, energy, fertiliser and petrochemicals. Its core business focus is to provide local, value-added products and services that meet the “basic needs” of the African populace through the construction and operation of large-scale manufacturing facilities in Nigeria and across Africa. DIL is focused on building local manufacturing capacity to generate employment, reduce capital flight from Africa and increase local value additions.

 

 

 

 

 

 

 

 

 

 

The Group has 11 distinct business lines, with the cement, sugar and salt business currently contributing majority of the group earnings. These subsidiaries are industry leading players with strong brand values, underpinned by long operational track record, diverse customer base, ongoing investments in capacity expansion and control over their respective value chains. DIL also has two project companies, Dangote Oil Refinery Company Limited (“DORC”) and Dangote Fertilizer Limited (“DFL”), located at the Lekki Free Zone in Lagos State, who (together with DIL) will serve as co-obligors on the Offer. DORC is a 650,000 b/pd integrated crude oil refinery and petrochemical plant, which is expected to be Africa’s largest oil refinery, while DFL is expected to be Africa’s largest granulated urea fertiliser manufacturing facility, with a production capacity of up to 2.8 Mtpa.

 

 

DIL is currently domestically rated AA+ by GCR and AA (ngr) by Fitch Ratings.

 

 

 

 

 

 

 

 

 

 

 

 

More information can be found at: https://www.dangote.com/

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Fidelity Bank Plc Wins 2025 DBN Innovation Award for MSME Support

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Fidelity Bank Plc Wins 2025 DBN Innovation Award for MSME Support

 

In recognition of its exceptional contributions to innovative financial solutions for Micro, Small, and Medium Enterprises (MSMEs), Fidelity Bank Plc has been awarded the 2025 Development Bank of Nigeria (DBN) Innovation Award in the Deposit Money Bank (DMB) category.

This prestigious accolade celebrates Fidelity Bank’s commitment to addressing the unique challenges faced by MSMEs, a vital segment in Nigeria’s economic growth.

Dr. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, commented on the award, reaffirming the bank’s dedication to empowering Nigerian entrepreneurs: “At Fidelity Bank, innovation is at the heart of our strategy to support MSMEs. This recognition underscores our commitment to developing scalable, inclusive, and technology-driven financial solutions that create positive outcomes for our nation’s entrepreneurs. We are honored to receive the DBN award and dedicate it to our loyal customers for their continued support.”

The award was presented at the 2025 Service Ambassadors’ Awards ceremony in Lagos, themed ‘Enhancing Partnership for MSME Resilience and Growth.’ Tony Okpanachi, Managing Director of DBN, emphasized the importance of financial institutions in transforming unbankable ideas into viable businesses through advisory services.

“You, our partners, are acknowledged and celebrated for your outreach to entrepreneurs and businesses seeking to scale. We appreciate you for your role in converting unbankable ideas into bankable businesses,” Okpanachi stated.

He noted that the award aims to recognize partners who make a significant impact, focusing on storytelling and the positive changes they bring to Nigeria.

This award joins a series of landmark initiatives by Fidelity Bank aimed at supporting MSMEs. Earlier in May, the bank signed a Memorandum of Understanding (MOU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to facilitate the expansion of Nigerian MSMEs across Africa.

Additionally, Fidelity Bank launched the Fidelity SME Hub in Gbagada, Lagos—a multifunctional facility equipped with training halls, meeting rooms, networking spaces, and studios for music, photography, and content production. This hub is designed to foster innovation, collaboration, and capacity-building, essential elements for strengthening Nigeria’s SME ecosystem and driving economic growth.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Fidelity Bank Plc Wins 2025 DBN Innovation Award for MSME Support

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Adron Homes Launches Grand Ileya Promo with Massive Discounts, Star Appearances & Festive Gifts

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Adron Homes Launches Grand Ileya Promo with Massive Discounts, Star Appearances & Festive Gifts

As the Ileya (Sallah) season approaches, Adron Homes, Nigeria’s leading real estate company, is again giving Nigerians a reason to celebrate beyond the festivities with the launch of its highly anticipated ILEYA/SALLAH PROMO!

This year’s celebration blends culture, community, and homeownership into a once-in-a-lifetime opportunity for families and individuals looking to secure their future through real estate.

With over 40 estate locations nationwide, spanning Lagos, Ogun, Oyo, Osun, Abuja, Nasarawa, Niger, Jos, and Ekiti, Adron Homes is offering a generous 30% discount on all land purchases. Even better, customers can enjoy convenient payment plans spread over 24 months, making land ownership more affordable than ever.

To mark the season of giving, Adron Homes is rolling out exciting gift rewards for customers based on their commitment levels:
•          ₦100,000 Payment – 10kg Bag of Rice or Aso Oke or Ankara
•          ₦200,000 Payment – 10kg Rice with Aso Oke or 2 Ankara
•          ₦500,000 Payment – Goat or 50kg Rice with Aso Oke or 2 Ankara
•          ₦1,000,000 Payment – Ram with Aso Oke or 2 Ankara or 50kg Rice + Goat
(Valid for lands worth ₦3M and above)
•          ₦3,000,000 Payment – 3 Rams with Aso Oke or 2 Ankara
(Valid for lands worth ₦8M and above)

This campaign is also being celebrated with the support of star brand ambassadors; Lateef Adedimeji, Ibrahim Chatta, and Femi Branch, who embody the spirit of culture, excellence, and family that Adron Homes stands for.

With a proven track record of delivering value and properties in strategic locations, Adron Homes is committed to making the dream of property ownership a reality for every Nigerian regardless of income level.

This Ileya season, the company is inviting all Nigerians to invest not just in land, but in a lifetime of security, prosperity, and generational wealth.

Visit any Adron Homes office nationwide or connect with us through our online platforms:
Website:adronhomesproperties.com

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Wear It All Luxury Opens New Abuja Boutique with Star-Studded Ceremony

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Wear It All Luxury Opens New Abuja Boutique with Star-Studded Ceremony

Wear It All Luxury Opens New Abuja Boutique with Star-Studded Ceremony

Four years after successfully reopening its flagship store in Lekki Phase 1, Lagos, following a major renovation, Wear It All Luxury, the upscale fashion brand owned by renowned entrepreneur, Sodiq Babatunde Rufai, has expanded its presence with the launch of a new boutique in Abuja.

The grand opening, held on Thursday, 22nd May 2025, at Libreville Crescent, Wuse 2, Abuja was a star-studded affair that brought together influential personalities from the fashion, entertainment, and business worlds. Among the high-profile guests in attendance was Afrobeats superstar Davido, whose presence added further glamour to the launch event.

Located in the heart of the capital, the new Abuja boutique is poised to offer the same top-tier fashion experience the brand is known for, curated luxury pieces, exclusive designer wear, and impeccable customer service tailored for Nigeria’s elite fashion lovers.

Speaking at the event, Sodiq Babatunde Rufai expressed his excitement about the brand’s expansion, stating, “This is more than just a store opening, it’s a statement that Nigerian fashion continues to grow and thrive. We’re proud to bring the Wear It All experience to Abuja, and we remain committed to setting the pace in luxury fashion across the country.”

The Abuja outlet joins the Lagos boutique in offering high-end fashion collections from globally recognized brands, as well as unique pieces under the Wear It All Luxury private label.

Guests were treated to a private showcase of the brand’s latest collections, light entertainment, and a luxurious atmosphere that perfectly reflected the Wear It All Luxury ethos.

As the fashion house continues to expand, industry watchers say the brand’s entry into the Abuja market marks another major milestone in Nigeria’s growing luxury fashion landscape.

Wear It All Luxury Opens New Abuja Boutique with Star-Studded Ceremony

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