Business

Manufacturing is key to economic growth, development- Dangote

Published

7 years ago

August 30, 2018

Dangote Refinery Receives Its Maiden Crude Cargo

Executive Director of the Dangote Group, Hajiya Halima Aliko-Dangote has urged millennials in Nigeria and across Africa to diversify from service-oriented enterprises to manufacturing and agriculture in a bid to fast-track the development of the continent and better life for its nationals.

Halima Dangote said that the economic realities around the world have shown that the way to go is agriculture and that the youths must take the lead more when most African countries are still grappling with low economic growth.

Addressing the 58th Conference of the Nigerian Bar Association (NBA) in Abuja yesterday, Hajiya Halima Dangote said African countries have groped in the dark for too long and it is high time the millennials stand up to be counted as the future of the continent.

In her paper titled “Roles of Millennials in Transition and Institution Building”, the Dangote Group Director explained that the youths have the potentials to turn around the fortune of the African continent. She stated that “Millennials are young ones born between 1980 and the mid-2000s, who account for 27% of the global population (about 2 billion people) and Sub-Saharan Africa alone is home to 13% of the entire millennial population, ranking second to Asia.

According to her, “available statistics have also revealed that by 2025, 75% of the global workforce will be millennials, large enough to influence consumer spending patterns; change consumer business models and impact the global economy. Most members of this generation are at the beginning of their careers and so will be an important engine for economic growth in the decades to come.”

Amid intermittent applause from the lawyers, Hajiya Halima Dangote stated that the theme of the conference which is “Transition, Transformation, and Sustainable Institutions” could not have come at a better time than now and therefore lauded the Association for coming up with a subject that Nigeria and Africa needed to discuss.

She congratulated the outgoing President of the NBA, Mr. A. B. Mahmoud OON, the incoming President, Mr. Paul Usoro SAN, and “all my learned friends here for successfully continuing with the vision handed down by the fathers and founders of the Association.”

The Executive Director also urged millennials and other relevant stakeholders to exercise restraint in the face common desperation for wealth by their contemporaries adding that, “Success in entrepreneurship takes time, dedication and hard work. There is a need to disabuse our mind from the concept of overnight success. Industrialisation requires patience and perseverance.”

She also spoke extensively on the successes recorded by the Dangote Group, founded by her father Aliko Dangote, in creating numerous jobs and establishing value-adding industries and contemporary businesses through importation, manufacturing and backward integration to generate and highlight local content for overall development.

While noting that the achievement by the group did not come easy, Hajiya Halima Dangote said “the Millennials should see these opportunities and diversify from service-oriented enterprises to manufacturing enterprises. Manufacturing has the capacity to create numerous jobs, develop an economy, sustain jobs and open other linkages.”

She noted that millennials are leaders in transition and are evolving. To her, “With smartphones and connections, the Millennials can exert much influence and swing the outcome of a situation. This confers on them great role and responsibility in shaping the outcome of policies and politics in a nation”.

“Economic sentiments have turned sharply since 2015. The general consensus across sub-Saharan Africa’s two largest economies is that lack of employment opportunities poses a very big problem amongst other key societal issues identified through the Sustainable Development Goals (SDGs).

“Despite these concerns, there is considerable optimism about the future, and millennials are increasingly getting more active in influencing and energising public opinion through social networks and creating mass movements. They are also actively leveraging digital fluencies to improve public sector accountability; address global societal problems and drive civil society engagement. “, she stated.

According to her, “Dangote Industries Limited is one of Nigeria’s foremost conglomerates with interests in cement, sugar, salt, flour, pasta, noodles, poly products, real estate, agriculture, logistics, telecommunications, steel, oil and gas, and beverages among others. The Group has over 15,000 direct employees. It provides indirect employment to tens of thousands of others who are engaged in activities relating to our businesses. Dangote Cement now has presence in 18 African countries (Nigeria, Ghana, Ethiopia, Tanzania, Cote d’Ivoire, Senegal, Cameroon, Liberia, South Africa, Kenya, Zambia, Sierra Leone, Congo, Zimbabwe, South Sudan, Chad, Mali and Niger).”

Speaking at a breakout session of the Conference, the Chief Executive of DAX Consult, Adaku Ufere Awoonor said millennials are the most educated and assertive age group that are currently creating wealth globally pointing out that young people around the world are now influencing outcomes of political activities, while others have risen to position of power and are making meaningful contributions to their societies.

” Millennials are entrepreneurs. If they can’t find job, they create one. They are doers and comfortable using digital media for promoting their causes,” she added.

Another Panelist speaker, Nasir Yammama, who is the CEO of Vordent AgriTech said millennials are extremely innovative, even in the face of limited resources, and challenges posed by social and political environments. He said his company is involved in creating technology that will support the agricultural sector. “We are also working on a craft, we called it “witchcraft” to help solve problems and create jobs, using technology,” he added.

In the same vein, the Managing Director of Mojec Holdings, Chantelle Oluwabumi Abdul said in spite being a young person, her company controls about 80 percent of metering in the power sector in West Africa.

She said young people should look into creating ideas and as well execute the ideas promptly.

“I believe in the Nigerian dream. I believe in africa. Young people now look at creating real wealth in billions and not millions again,” she added.

The sheer size of this demography which is already about half the size of world population and the democratisation of information using technology is a warning sign to future politicians and the future of politics.

“The Nigerian and African Millennials in this context although largely preoccupied with start-ups, business activities and professional success are also intensely politically and socially active through the social media”, Hajiya Halima Dangote added.

“They are thereby gradually influencing the course and content of politics and the flavour of social and political life, and social activism through the broad reach, power and immediacy of the social media. They will eventually have to enter the political arena as potential political and business leaders formed in the digital age.

“To do this, Nigerian and African Millennials must deliberately ground their transformation efforts for national and continental advancement in a deep understanding, respectful and non-abusive appreciation of their cultural heritage”, she added.

Hajiya Halima Dangote also stressed the growing need for strong institutions to manage these developments and transitions, as Africa develops. To her, the continent must transit from having strong persons to strong institutions, strong institutions with effective executive capacity needed for sustainable development.

Related Topics:business coverstory dangote Dangote Cement

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Business

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Published

2 days ago

February 19, 2026

Sahara Weekly

Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend

Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.

The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.

Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.

Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.

The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.

Bank

Alpha Morgan to Host 19th Economic Review Webinar

Published

4 days ago

February 18, 2026

Sahara Weekly

Alpha Morgan to Host 19th Economic Review Webinar

In an economy shaped by constant shifts, the edge often belongs to those with the right information.

On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.

The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.

With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.

Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19

It is a bi-monthly platform that is open to the public and is held virtually.

Visit www.alphamorganbank to know more.

Business

GTBank Launches Quick Airtime Loan at 2.95%

Published

5 days ago

February 17, 2026

Sahara Weekly

GTCO increases GTBank’s Paid-Up Capital to ₦504 Billion

GTBank Launches Quick Airtime Loan at 2.95%

Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.

In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.

For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.

Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”

Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.

With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank

Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.

About HabariPay

HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:

GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com