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First HoldCo Group Companies’ Boards and Management teams visit Dangote Refinery

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First HoldCo Group Companies’ Boards and Management teams visit Dangote Refinery

…All Nigerians will have access to the Refinery’s IPO and be part-owners-Dangote

 

 

Chairman of FirstHoldCo, Femi Otedola, has appealed to the President of Dangote Group, Aliko Dangote, to allocate $100 million worth of shares to him in the proposed listing of Dangote Petroleum Refinery & Petrochemicals. He disclosed that he divested his stake in Geregu Power Plc specifically to position himself for investment in the refinery’s initial public offering (IPO), which he described as a transformative industrial platform helping to free Africa from decades of reliance on imported petroleum products.

Otedola made these remarks during a visit by the FirstHoldCo leadership team to the 650,000 barrels-per-day refinery and Dangote Fertiliser Limited in Ibeju Lekki, Lagos, where he commended Dangote for building the world’s largest single-train refinery and accelerating Africa’s industrial transformation.

“He is a genius and one of the greatest men to emerge from Africa. What he has achieved is helping to liberate the continent from economic dependency and import reliance,” Otedola said. “I have visited this refinery more than 25 times, and I have consistently appealed for $100 million worth of shares during the private placement. That informed my decision to sell my stake in Geregu so I can reinvest in the Dangote Petroleum Refinery.”

Otedola also expressed strong confidence in the Group’s planned expansion of refining capacity to 1.4 million barrels per day, noting that Africa’s growing demand for refined petroleum products clearly supports further investment in domestic refining infrastructure.

In his remarks, President of Dangote Group, Aliko Dangote, assured that the refinery’s IPO would be broadly inclusive, enabling ordinary Nigerians to become part-owners and benefit from its value creation. He emphasised that the Group is committed to democratising access to investment opportunities by opening participation to retail investors across Nigeria and the African continent.

“We want ordinary Africans to participate in the value being created,” Dangote said. “What companies like Amazon and Apple achieved globally in terms of wealth creation is what we seek to replicate in Africa. We want people to invest, grow with us, and share in the prosperity.”

Dangote further disclosed plans for a proposed East Africa refinery with a projected capacity of 700,000 barrels per day, alongside polypropylene and base oil production facilities. According to him, the project could commence within the next three to four years once construction begins. He noted that the initiative was not originally captured in the Group’s Vision 2030 strategy, underscoring the company’s trajectory toward exceeding its long-term growth targets.

Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, described the refinery as a symbol of vision, courage, and industrial ambition capable of inspiring similar investments across Africa.

“If you see this refinery and realise that an individual conceived and delivered a project of this magnitude, already helping to stabilise energy supply across Africa, you cannot help but be inspired,” Alebiosu said. “We have delegates here from the United Kingdom and several African countries who will return home with renewed commitment to building industries that can transform their economies. It is about building Africa together.”

Dangote also highlighted the Group’s sustained leadership across its core businesses over the past five years, including cement operations in 11 African countries, alongside significant investments in refining, petrochemicals, and fertiliser production. He noted that cement capacity has expanded to 55 million tonnes per annum, supported by the development of clinker export terminals to strengthen regional trade.

“We have built businesses that address Africa’s critical needs and create long-term value for the continent,” Dangote said. “Africa must stop exporting raw materials and importing finished goods. That amounts to exporting jobs and importing poverty.”

He added that investor appetite for the refinery’s listing on the Nigerian Exchange has remained exceptionally strong, with demand for the private placement already exceeding $2 billion.

“There is significant interest in both the IPO and the private placement,” he said. “While we are not able to meet all requests, the strong demand reflects investors’ confidence in the refinery and in Africa’s industrial future.”

Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Globacom Marks 21 Years Of Ojude Oba Festival Sponsorship

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Globacom Marks 21 Years Of Ojude Oba Festival Sponsorship

 

 

Nigeria’s leading indigenous digital solutions company, Globacom, has reaffirmed its support for cultural preservation with the announcement of its headline sponsorship of the 2026 Ojude Oba Festival, marking 21 consecutive years of partnership with the people of Ijebuland.

 

Speaking at the festival’s pre-event press conference in Ijebu-Ode, Globacom’s representative, Mr. Olumide Orojimi, described the milestone as a testament to the company’s commitment to promoting culture, unity, and national identity.

 

“This edition represents a defining milestone for us,” he stated. “For twenty-one unbroken years, Globacom has walked this cultural journey with the people of Ijebuland.

“Beyond sponsorship, this partnership symbolises our deep respect for tradition, community, and the enduring spirit of our heritage.

“To commemorate this historic anniversary, we are committed to making this year’s celebration even more colourful, memorable, and impactful for Ijebu sons and daughters across the world.”

He noted that the company’s longstanding collaboration with the festival has helped enhance its profile as a globally recognised cultural and tourism event, adding that culture remains “the invisible architecture of a people’s soul.”

The 2026 edition, themed “Ojude Oba: Celebration of Culture Beyond Borders,” will also honour the legacy of the late Awujale of Ijebuland, Oba Sikiru Kayode Adetona, whose reign significantly shaped the festival’s growth and prominence.
Globacom disclosed that winners in the age-grade competitions will receive cash prizes of ₦750,000, ₦600,000, and ₦500,000 for first, second, and third places respectively. Festival attendees will also have access to a range of Globacom products and devices during the event.

In his remarks, the Coordinator of the Ojude Oba Festival Organising Committee, Chief Fassy Adetokunbo Yusuff, described Globacom as “the Pacesetter in the sponsorship of Ojude Oba” and commended the company for its unwavering support over the past 21 years.

Said he, ” this festival serves as a major catalyst for economic growth and commercial activities throughout Ijebuland, “as he gave kudos to Globacom for raising the bar of the event.

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Refinery Listing Will Democratise Africa’s Industrial Prosperity – Dangote

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Refinery Listing Will Democratise Africa’s Industrial Prosperity – Dangote

… South African investors eye investment opportunities

 

 

President/Chief Executive, Dangote Group, Aliko Dangote, has said the planned listing of the Dangote Petroleum Refinery & Petrochemicals on the Nigerian Exchange is designed to democratise wealth creation and give Africans direct access to participate in the continent’s industrial transformation.

 

 

 

Dangote spoke during the visit of the leadership of South Africa’s Government Employees Pension Fund (GEPF), alongside the Public Investment Corporation and Alterra Capital Partners, to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Lagos. The South African delegation included Chairperson of GEPF, Frans Baleni; Principal Executive Officer of GEPF, Musa Mabesa; Deputy Chairperson of PIC, Mongwena Maluleke; Chief Executive Officer of PIC, Patrick Dlamini; and Managing Partner of Alterra Capital Partners, Genevieve Sangudi.

 

 

 

The visit comes amid rising investor interest in Africa-led industrialisation and long-term infrastructure investments. GEPF is Africa’s largest defined benefit pension fund, managing the retirement and associated benefits of more than 1.8 million public sector workers in South Africa, while PIC is the continent’s largest asset manager.

 

 

 

Speaking on the planned refinery listing, Dangote said Africa’s next phase of economic growth must be anchored on large-scale industrial projects capable of creating jobs, strengthening domestic production capacity and generating broad-based prosperity.

 

 

 

“We are opening the doors for investors to participate directly in Africa’s industrial future and the prosperity it will create,” Dangote said.

 

 

 

According to him, the refinery project reflects the scale of untapped opportunities within Africa’s energy market, particularly as most African countries remain dependent on imported refined petroleum products despite growing industrial demand and rising consumption.

 

 

 

Dangote said the Group’s long-term investment strategy is driven by Africa’s expanding energy needs and the urgent requirement for regional refining capacity capable of serving multiple markets across the continent.

 

 

 

The billionaire industrialist noted that demand for products such as polypropylene, aviation fuel and refined petroleum products has exceeded earlier projections, reinforcing the commercial viability of the refinery and shaping future expansion plans.

 

 

 

“We thought about Nigeria first and then exports, but even with our current production, we are practically living hand to mouth because the market demand is extremely high,” he said.

 

 

 

Speaking after the tour of the Dangote facilities in Ibeju-Lekki, the Chairperson of GEPF, Frans Baleni, said that the refinery stands as evidence that Africa can execute transformational infrastructure projects when backed by visionary leadership, long-term investment and strong technical expertise.

 

 

 

“If it can be done anywhere else in the world, it can be done in Africa,” he said. “This project has shown that the continent is capable of achieving world-class industrialisation at scale.”

 

 

 

Baleni added that the significance of the project extends well beyond Nigeria’s borders. “What has been built here is reshaping how the world should think about African industrial capability — and it should reshape how Africa thinks about itself. For too long, projects of this magnitude have been associated with other parts of the world. The Dangote Refinery and Petrochemicals Complex is a powerful demonstration that, with visionary leadership and long-term capital, that perception no longer holds. This is the kind of African-led industrial scale that institutional investors on this continent should be backing.”

 

 

 

On his part, Chief Executive Officer of PIC, Patrick Dlamini, described the refinery as one of the most transformative industrial projects undertaken on the continent, saying it is reshaping global perceptions about Africa’s industrial capabilities and economic potential.

 

 

 

Quoting former South African President Nelson Mandela, Dlamini said: “It always looks impossible until it’s done. This project is redefining the story of Africa and the possibilities of Africa.”

 

 

 

He said PIC, which manages about $230 billion in assets largely on behalf of South Africa’s Government Employees Pension Fund, is actively seeking long-term partnerships aligned with infrastructure development, industrialisation and economic transformation across Africa.

 

 

 

“PIC’s mandate is to deploy long-term, patient capital in service of industrialisation, infrastructure and economic transformation across Africa,” Dlamini said. “What we have seen today reinforces our conviction that the next chapter of African prosperity will be written through partnership between African institutional capital and African industrial champions. There is real strategic alignment between Dangote’s industrial agenda and how we are positioning our portfolio, and we look forward to exploring meaningful avenues for collaboration.”

 

 

 

According to him, poverty, unemployment and economic exclusion remain major drivers of instability across Africa, making industrialisation and large-scale job creation critical to the continent’s long-term development.

 

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Olokola Deep Seaport: Dangote Engages Ogun/Ondo Host Communities ahead Project Takeoff 

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Olokola Deep Seaport: Dangote Engages Ogun/Ondo Host Communities ahead Project Takeoff 

…Get traditional rulers’ nod to commence surveys of project site

Ahead of the take-off of the Olokola Deep Seaport Project, a high-powered Dangote delegation led by the Managing Director, Infrastructure & Logistics, Dangote Industries Limited, Capt. Jamil Abubakar, has paid an advance visit to engage and sensitise the host communities in the proposed project area in Olokola Free Zone (in Ogun and Ondo States).

 

The Olokola project is an important aspect of the President/CE of the Dangote Group, Aliko Dangote’s plan to strengthen Africa’s maritime trade capacity through a new deep seaport project aimed at enhancing regional commerce and logistics across the continent; as part of the Group’s Vision 2030 strategy to generate an annual revenue of $100 billion by the year 2030, with a corresponding positive impact on Africa’s development process.

 

The Olokola Free Trade Zone (OKFTZ) spans an industrial enclave of over 10,000 hectares located directly along the Atlantic coast, straddling the border of Ogun and Ondo states. It is situated in the Ogun Waterside Local Government Area (LGA) of Ogun State, extending eastward to the borders of the Ilaje LGA in Ondo State, located less than 100 kilometres east of Lagos, abutting the eastern side of the Lekki-Epe corridor. The coastal area lies at the natural estuary and waterway junction between Ogun and Ondo states on the Gulf of Guinea.

 

Among the communities visited by the MD and his team were Ode-Omi community in Ogun Waterside Local Government Area of Ogun State, and the Araromi Seaside Kingdom and Igbokoda town in Ondo State. This continuous engagement is a crucial part of the whole process.

 

The visiting delegation, which comprised senior Dangote officials and staff, land and estate surveyors, environmental consultants, were welcomed to the Ode-Omi community by the monarch, Lenuwa of Ode-Omi, Oba Folailu Adekunle Hassan (Oshotekun II) alongside Baales, Chiefs and youth leaders of the area. According to the monarch, “We have been expecting you for long. It is good that you are here today. Do your best and we will all benefit from this process.” The traditional ruler also gave his consent for the Dangote team to mobilise to begin the survey and other activities in the project area, which will include enumeration of households, economic trees and compensation for any settlement that can be affected by the deep seaport project.

Capt. Abubakar led the team to Araromi Seaside Kingdom in Ilaje Local Government Area, Ondo State where they engaged and sensitised the Alara of Araromi Seaside Kingdom, HRM Oba Adeoloye Olawole, high Palace Chiefs and Youth Leaders of the community. The Alara, in his response, said, “We have been waiting for you and for this project to commence. We are going to give you physical and spiritual support. If it is possible for this project to begin tomorrow, you are welcome.”

 

Speaking on the project, the Team Lead/MD Infrastructure & Logistics, Capt. Abubakar said, “The Olokola Deep Sea project is a major step in opening up Nigeria’s economic potential, strengthening trade, reducing pressure on existing ports and supporting industrial growth. It will create real opportunities for host communities through jobs, business activities and long term developments across both Ogun and Ondo states. With its strategic location, Olokola would serve as a key gateway for exports and imports, boosting Nigeria’s competitiveness in regional and global trade. This project reflects our commitment to building infrastructure that benefits both the people and the economy at large.”

 

The team also paid a courtesy visit to the Nigerian Navy Forward Operating Base (FOB) in Igbokoda, Ondo State, where they were received by the Base Operations Officer/Acting Commanding Officer, Lt. Commander A.A. Makinwa, who pledged collaboration with the Group in the interest of the nation and overall economic development.

 

A major outcome of the delegation’s visit was the approval and support of the two monarchs and their cabinets for the Dangote Group to mobilise to the project site and begin their surveying and enumeration activities, after which communities in the project area in both Ondo State would be compensated by the conglomerate as the Olokola Deep Seaport project takes off for the development of the host communities, the states of Ogun and Ondo, and the overall national economy.

 

The proposed Olokola Deep Seaport is expected to deliver a compelling value-add for Dangote Group, particularly in how it will support economic expansion, trade growth, and long-term operational scale. The project will drive significant job creation, both direct and indirect, while also attracting foreign direct investment and stimulating related sectors such as logistics, manufacturing, and services. This will position Olokola as a logistics and industrial hub, contributing to a more robust and resilient economy. In addition, the port will enhance trade potential and export diversification. It will also strengthen participation in intra-African trade under the African Continental Free Trade Area, positioning the Group and Nigeria to benefit from increased regional trade flows and foreign exchange generation.

 

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