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Residents bemoan BUA’s investment in Lafiaji Sugar Company …Calls for FG’s intervention

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BUAA

Residents of Lafiagi community in Edu local government area of Kwara state have expressed concern over the moribund state of BUA sugar refinery, formerly known as Lafiagi Sugar Company.
For the company to survive, the residents appealed to the Federal Government to compel BUA to commence its operations with immediate effect or revoke their ownership.

It would be recalled that the BUA group changed the name of the company to BUA Sugar refinery after successfully taking over the company and is already benefitting from the concessions the Federal Government has given to Sugar importers to encourage them produce locally.

The company liquidated and bought over by BUA group of companies was last operated fifteen years ago, it used to be the only major company in which scores of members of Lafiagi community and its environs were offered gainful employments.

For the residents of the Community and its environs however, the tale, since the take- over is that of anguish and pain as the company is yet to operate and impact significantly and positively into the lives of the people in the community. The Company is now a shadow of itself as most of the staff have been laid off.

A retiree of Edu local government and a native of the community, Mr Saliu Musa in an interview with journalists recalled that during the days of the Lafiagi Sugar Company,no fewer than 500 residents were employed. He said: ‘’When the company was operational, older and younger ones no fewer than 500 were employed. The company was working very well then. But since the take-over by the new management, they have sent the staff away and most of them have resorted to doing any menial jobs available’’ he said.

He further said ‘’When the company stopped working, all those working were sacked and had nowhere to go. Some went back to farm, others joined Okada riders and many went into petty trading among others’’.

Kayode Buraimah, a youth leader in the area expressed utter disappointment that Bua had not done anything to revive the company since it bought it over.

Said he; we were happy when the company was sold to BUA thinking it will be brought back to life. It’s unfortunate that since then, the Company just abandoned the Sugar refinery which is contrary to terms and conditions upon which the federal government sold the company. We the youths are jobless and yet we have an avenue for job here wasting away.

“We all submitted out CV , even recently to the emir as instructed so that we can be employed but since then, it has been one story or the other”

He therefore urged the management to do everything within its means to ensure that Lafiagi Sugar Company is returned back to its glorious days so that it could offer more employment opportunities to the teaming youths of the area and thereby enhance the nation’s economic development.

A visit to the company however revealed that nothing much has been done in the company. A source, who works for the company and pleaded anonymity said with what is on ground, no serious activity can happen in the company until the next three years.

“As you can see, we have not really started anything here. The truth is that most of the equipment are yet to arrive. As soon as we have the equipment needed for the sugar plantation, we will employ more people and operation will start”

It will be recalled that the National Sugar Development Council (NSDC), recently accused BUA group of taking advantage of the federal government’s concessions designed to help sugar importers transform into integrated sugar producers, without actually making tangible effort to begin to produce locally.
The Executive Secretary of the council, NSDC,  Dr. Abdullatif Demola Busari, also recently lamented that “By now, it supposed to have over 400 hectares of planted sugar cane in the site. It is supposed to have brought in its machineries by now. That is, by March 2015, it is supposed to have imported it’s machineries but nothing like that has happened,” Busari  said.

All efforts to however speak to the General Manager of BUA sugar refinery in Lafiaji, Mr Isiaku Samuel, proved abortive as he was said to have been attending meetings all through.

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TRADEMARK INFRINGEMENT—Federal High Court Abuja Stops Mamuda Beverages from Further Producing its Pop Power Energy Drink in Its Present Bottle Design

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TRADEMARK INFRINGEMENT—Federal High Court Abuja Stops Mamuda Beverages from Further Producing its Pop Power Energy Drink in Its Present Bottle Design

In keeping with a clear understanding of conducting business within the confines of the rules, the  Federal High Court in Abuja has again ordered Mamuda Beverages Nigeria Limited (“Mamuda”) to stop producing its Pop Power Energy Drink, which infringes on the trademark of the popular Fearless Energy Drink brand of Rite Foods Limited.

This rulings on Mamuda’s Notice of Preliminary Objection and Rite Foods’ Motion for interlocutory injunction were delivered by Hon. Justice B.F.M. Nyako, on Friday, 22nd May 2026, in the Suit No. FHC/ABJ/CS/705/2025. At the proceeding of the day, Mamuda’s Notice of Preliminary Objection was refused and dismissed, while Rite Foods’ application for injunctive reliefs prohibiting Mamuda from further trademark infringement was granted.

In the court’s ruling, Hon. Justice Nyako refused Mamuda’s Notice of Preliminary Objection which had challenged the suit on the basis of abuse of court process and held that Rite Foods’ present complaint of infringement of its intellectual property is distinct from an earlier suit between the parties, wherein Rite Foods had complained about a different act of infringement.

The court further held that it appears on its face that Mamuda’s newly introduced bottle design, manufactured, still bears a striking resemblance to Rite Foods’ established Fearless Energy Drink product. Therefore, the court granted an order restraining Mamuda from further production of its Pop Power Energy Drink product, pending the final determination of the suit.

Accordingly, the court ordered Mamuda to cease production of the product forthwith, destroy all existing products, and directed the court Bailiff, in conjunction with the parties, to undertake an inventory of the products slated for destruction and file the same.

The court further ordered that the injunction shall remain in force until the end of the year or pending the determination of the substantive suit.

Consequently, the court adjourned the suit to Wednesday, 23rd September 2026, for the hearing of the substantive suit.

This order follows an earlier suit against Mamuda in January 2025, where Rite Foods sued the company for infringing on the trademark and design of its iconic Fearless Energy Drink through the launch of a lookalike product, Pop Power Energy Drink.

However, Mamuda, in an apparent admittance of guilt, sought a settlement, and terms of settlement were agreed and filed, and the court entered same as its consent judgment. Some of the terms of settlement included that Mamuda would desist from further violation of Fearless Energy Drink trademark and identity pass-off. It also agreed to destroy all infringing products and pledged to change its design and avoid any form of identity imitation.

In an unexpected turn, Mamuda subsequently reintroduced Pop Power into the market, with only cosmetic adjustments to its appearance. Rite Foods maintains that these changes are minor and do little to address the original issues of consumer confusion. Reports from the market indicate that the new Pop Power continues to be informally referred to as “small Fearless,” reinforcing concerns that the revised product may not only breach the spirit of the earlier agreement but could also undermine consumer clarity and brand differentiation.

While reaffirming its position, Rite Foods stressed its continued commitment to protecting its brand and the principles of innovation and fair competition in Nigeria’s marketplace.

The company emphasized that genuine business growth must be anchored on originality and respect for intellectual property, rather than imitation and fraudulent business practices.

 

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S&P: Dangote Refinery Driving Nigeria’s Economic Resurgence

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NLC Commends Dangote Refinery, Urges FG to Sell Adequate Crude in Naira to Reduce Fuel Prices

S&P: Dangote Refinery Driving Nigeria’s Economic Resurgence

 

The Dangote Petroleum Refinery & Petrochemicals is emerging as a major driver of Nigeria’s improving economic outlook, following the country’s sovereign credit rating upgrade by S&P Global Ratings.

 

In its latest assessment, S&P upgraded Nigeria’s long term foreign and local currency sovereign credit ratings to “B” from “B-”, citing stronger economic growth, improved external balances, rising oil production, and expanded domestic refining capacity as key factors supporting the country’s recovery.

 

The global ratings agency specifically identified the operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals as a major contributor to Nigeria’s improving balance of payments position and broader economic resilience.

 

According to S&P, the refinery’s full capacity operations are helping to strengthen Nigeria’s current account surplus, reduce dependence on imported refined petroleum products, and improve foreign exchange liquidity.

 

“Significant refining capacity is now also online; Dangote Industries Ltd.’s large scale refinery and petrochemical complex has ramped up to near its maximum capacity of 650,000 barrels per day,” the report stated.

 

S&P projected that Nigeria’s current account surplus would improve to 5.8 per cent of GDP in 2026 from 4.8 per cent in 2025, supported partly by increased domestic refining and hydrocarbon exports.

 

The report noted that the refinery is helping to ensure the availability of refined fuel, gas, and fertiliser for the domestic market, while also providing a buffer against global supply disruptions triggered by ongoing geopolitical tensions in the Middle East.

 

The agency further stated that Nigeria’s improving external position has been supported by reduced fuel import dependence, the removal of fuel subsidies, exchange rate liberalisation, and higher oil production.

 

Foreign exchange reserves, according to S&P, have risen significantly from about $33 billion in 2023 to nearly $50 billion by early 2026, aided partly by lower import demand for refined petroleum products following the commencement of operations at the Dangote Refinery.

 

The report also highlighted the refinery’s broader role in supporting Africa’s industrialisation ambitions, noting that Nigeria is transitioning from being primarily a crude oil exporter to an emerging producer and exporter of refined petroleum products.

 

S&P disclosed that Dangote Industries has already unveiled plans to undertake feasibility studies aimed at expanding refining capacity to about 1.4 million barrels per day from the current 650,000 barrels per day.

 

The agency said the planned expansion, alongside the rehabilitation of other local refineries, could further strengthen Nigeria’s economy and deliver additional gains to the country’s balance of payments position over the next few years.

 

While acknowledging that global crude oil prices and market driven pricing continue to influence domestic fuel costs, S&P maintained that the increased local refining capacity provides Nigeria with greater energy security and reduced exposure to external supply shocks.

 

The report also linked Nigeria’s improving macroeconomic outlook to reforms undertaken since 2023, including exchange rate liberalisation, fiscal reforms, higher petroleum revenue remittances, and efforts to improve oil production through enhanced security in the Niger Delta.

 

S&P said Nigeria’s economic growth is expected to remain firm despite inflationary pressures, with reforms continuing to support investor confidence and non-oil sector expansion.

 

The stable outlook, according to the agency, reflects a balance between Nigeria’s improving external position and continuing structural challenges such as a narrow tax base, high inflation, and low formal employment levels.

 

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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.”

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