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Dangote is the Pride of Nigeria’s Financial Market, Says NGX Group Chairman 

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Dangote is the Pride of Nigeria’s Financial Market, Says NGX Group Chairman  

… Listing of Dangote Fertiliser Will Revolutionise Capital Market – Dangote

 

The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has praised the President/Chief Executive, Dangote Group,  Aliko Dangote for his substantial contributions to the Nigerian capital market and private sector development.

 

He noted this during a courtesy visit to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited by capital market stakeholders.

Dangote is the Pride of Nigeria’s Financial Market, Says NGX Group Chairman

 

Kwairanga, who called for the listing of Dangote Petroleum Refinery and Dangote Fertiliser on the NGX, stated that it would represent a natural progression in the Dangote Group’s journey towards transparency, market leadership, and inclusive wealth creation.

 

Noting that the Nigerian capital market takes great pride in Dangote and his contributions to the economy, he commended the impact of the Dangote Petroleum Refinery on the Nigerian economy, stressing that the various initiatives introduced have provided much-needed relief to Nigerians.

Kwairanga recalled Dangote’s tenure as President of the Council of the Nigerian Stock Exchange, describing him as a visionary whose leadership shaped the capital market landscape.

 

“Through the listing of companies such as Dangote Cement Plc, Dangote Sugar Refinery Plc, and NASCON Allied Industries Plc, the Group has significantly deepened market liquidity, boosted investor confidence, and driven long-term value creation for shareholders,” he stated.

 

The Chairman emphasised that the visit was more than a tour; it was a reaffirmation of the NGX’s commitment to aligning investment capital with national development goals.

 

The President/ Chief Executive of the Dangote Group, Aliko Dangote, reaffirmed that the Group will soon list the Dangote Fertiliser Limited on the Nigerian Exchange (NGX), with the aim of revolutionising the capital market.

 

He assured shareholders that those investing in Dangote Fertiliser Limited would not need to worry about the value of the local currency, as the company operates within a dollarised business framework.

 

“So, what are we aiming to do to bring about a major revolution in the capital market? The main challenge is that many investors are hesitant, thinking, ‘If I invest my naira now, by the time I receive dividends in ten years, the naira will have lost value.’ However, we are entering the market with a dollarised business model,” he explained.

 

Dangote further disclosed that the company is working on expanding its fertiliser plants to boost revenue, with a target dividend payment to shareholders exceeding $3 billion.

 

“In the next 40 months, our fertiliser business should generate $20 million in revenue per day. We are pushing hard. We expect to reach over $70 billion in revenue and possibly pay dividends of $3–4 billion. Our philosophy is to always think big,” he said.

 

He added that the Group is also strengthening its cement business by investing in new plants and targeting clinker exports to West African countries, which will boost revenue and provide better dividends for shareholders.

 

Praising the recent progress of the NGX, Dangote stressed that Nigeria needs companies like Reliance Industries Limited, which once held its Annual General Meetings in a stadium. Such companies, he noted, would stimulate the economy and encourage wealth distribution.

 

Emphasising that Nigeria cannot attain its $1 trillion economy target without a vibrant stock exchange, Dangote affirmed his continued engagement and support for the NGX, acknowledging its crucial role.

 

The Vice President of Oil & Gas at Dangote Group, Edwin Devakumar, who led the delegation on a tour of the facilities, described the construction of the 650,000-barrel-per-day refinery as a monumental achievement that demanded immense courage, vision, and determination. He noted that the Group acted as its own Engineering, Procurement, and Construction (EPC) contractor for the refinery—a feat never before attempted at this scale.

 

He also stressed that the refinery has ensured Nigeria is no longer reliant on imports to meet its petroleum needs and is now exporting refined products to various continents worldwide.

 

Also present were the CEO of NGX, Temi Popoola; Managing Director/CEO of Central Securities Clearing System Plc (CSCS), Haruna Jalo-Waziri; CIS President, Oluropo Dada; ASHON Chairman, Sam Onukwe; CEO of NGX Regulation, Olufemi Shobanjo; CEO of Lagos Commodity Exchange, Akeredolu Ali; and other major stakeholders.

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Dennis Ekamah Isn’t Building Houses—He’s Redefining What Home Means for Africans Through PropTech

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Dennis Ekamah Isn’t Building Houses—He’s Redefining What Home Means for Africans Through PropTech.

 

The founder of coHouse.ng is reimagining how millions of Africans access, experience, and share housing through technology.

 

In Africa’s rapidly evolving innovation landscape, the most transformative companies are no longer defined by the industries they enter, but by the systems they redesign.

 

For Dennis Ekamah, the opportunity was never about constructing buildings, it was about confronting a deeper question.

 

why is access to housing still so structurally difficult for millions of Africans in a digital age?

 

Rather than stepping into real estate as a developer. Dennis chose a different path, positioning coHouse.ng as a PropTech platform rethinking how housing is accessed, experienced, and shared. At the heart of this vision which is connecting potential home owners together via resource pooling for the purpose of either Living or Growth. Simply, *Connect. Live. Grow.*

 

*A Platform Not a Property Company*

 

coHouse.ng is not a real estate company. It is a technology-driven ecosystem connecting like-minded individuals into structured communities where they can live intentionally, invest collectively, and grow within a shared system.

 

From Insight to Recognition

 

In 2025, coHouse.ng was recognised among the Top 50 Tech Startups in Africa. Even ahead of its official launch, the platform attracted over 1,000 early waitlist users, individuals eager to be part of a new way of living and investing.

 

Solving for Access, Alignment, and Trust

 

Dennis Ekamah’s diagnosis goes deeper than supply shortfalls. The real barriers he argues are access, coordination, and trust. coHouse.ng tackles all three through identity verification powered by a third party verification system api. coHouse is not flying solo without the help and collaboration with government bodies across Nigeria and other African countries.

 

In his words;

“Imagine what you would achieve as an individual or group if you’re living with the right people or like-minded individuals around you.”

 

I’m not a developer, I’m not a professional realtor, I’m just someone who sees the need for this solution based on the problem we face as youth/young entrepreneurs in today’s housing deficiency across Africa.

— Dennis Ekamah

 

Join our waitlist by visiting www.cohouse.ng

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Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

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Landmark Judgment: Federal High Court Dismisses ₦50bn Oil Spill Claim Against ExxonMobil

 

The Federal High Court sitting in Uyo has dismissed a ₦50 billion lawsuit filed against ExxonMobil, sued as Mobil Producing Nigeria Unlimited, now Seplat Energy Producing, in a ruling analysts say could significantly reshape oil spill litigation and compensation claims in Nigeria’s petroleum sector.

Delivering judgment on April 29, 2026, Justice Onyetenu held that the suit instituted by the Ejige Ore Njenyisi Muma & Fishing Co-operative Society Ltd was incompetent and liable to dismissal for lack of jurisdiction.

The plaintiffs had sought ₦50 billion in damages over an alleged hydrocarbon spill said to have occurred on September 12, 2021.

However, counsel to the defendant, Chinonso Ekuma of KENNA LP, successfully argued that the claimants failed to disclose any legally recognisable violation attributable to the oil firm.

In its findings, the court held that the plaintiffs failed to establish any actionable wrongdoing against the defendant.

A key element in the court’s decision was the Joint Investigation Visit (JIV) Report tendered by the plaintiffs themselves, which showed that the alleged spill incident was confined within ExxonMobil’s operational facility and did not impact the members of the cooperative society or their sources of livelihood.

The court further ruled that claims arising from such incidents must be pursued strictly under the statutory compensation framework provided in Section 11(5) of the Oil Pipelines Act, rather than through common-law claims founded on negligence or nuisance.

Justice Onyetenu held that the plaintiffs’ attempt to circumvent the statutory regime by framing the suit as a tort action rendered the matter incompetent before the court, thereby depriving it of jurisdiction.

Legal analysts say the judgment reinforces the supremacy of the Oil Pipelines Act in determining compensation procedures relating to oil pipeline incidents and environmental claims in Nigeria.

The ruling is also seen as strengthening the evidential weight of Joint Investigation Visit Reports, particularly in cases where such reports indicate no direct impact on claimants or host communities.

Industry observers believe the judgment will have far-reaching implications for future oil spill litigation, especially regarding the procedural requirements for compensation claims against oil operators.

The court’s decision further provides clarity for operators within Nigeria’s energy sector by reaffirming that compliance with Section 11(5) of the Oil Pipelines Act is mandatory and cannot be sidestepped through alternative legal formulations.

While K.O. Uzuokwu appeared for the plaintiffs, the defence was led by Chinonso Ekuma of KENNA LP on behalf of ExxonMobil.

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

 

 

Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.

The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.

Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:

“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”

Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.

Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.

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