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Dangote Joins Global Push to Unlock Jobs, Investment

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By Adewunmi Oluwaseun

 

Africa’s richest man, Aliko Dangote, has joined forces with global business giants in a bold new World Bank initiative aimed at unlocking private sector investments and creating jobs in developing countries.

 

Announced Wednesday, the latest phase of the World Bank’s Private Sector Investment Lab includes Dangote, President of Dangote Group, as one of its newest members.

 

This marks a significant milestone for Nigeria, as Dangote brings the weight of his industrial empire—especially the continent’s largest refinery—into global development conversations.

 

The Lab, which has spent the last 18 months identifying and tackling barriers to investment in low-income economies, is now shifting gears to implementation.

 

With a sharper focus on employment, the revamped group features leaders from critical job-spinning sectors such as energy, agribusiness, tourism, healthcare, and manufacturing.

 

“This isn’t about charity. It’s about smart investing that lifts people and economies,” said World Bank President Ajay Banga. “With new voices like Dangote at the table, we’re scaling real solutions for real impact.”

 

Among the Lab’s five priorities are securing regulatory certainty, expanding political risk insurance, tackling currency risks, boosting junior equity capital through a new Frontier Opportunities Fund, and unlocking long-term capital via securitization.

 

New members joining Dangote include Bayer CEO Bill Anderson, Bharti Enterprises Chair Sunil Bharti Mittal, and Hyatt Hotels CEO Mark Hoplamazian.

 

As the Lab moves from theory to action, expectations are high. For Dangote and others, it’s a chance to steer investments that deliver both returns and transformation across continents.

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Business

Dangote Holds Fuel Price Steady

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By Adewunmi Oluwaseun 

Despite the rising cost of crude oil on the global market, Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to keeping petrol prices stable for Nigerian consumers.

The company said its decision to maintain affordable pump prices amid international volatility reflects its firm dedication to supporting the nation’s economy and easing the burden on the public.

According to a statement from Group Chief Branding and Communications Officer, Anthony Chiejina, the move aligns with the Federal Government’s Nigeria First policy and President Bola Tinubu’s Renewed Hope Agenda.

“Refining locally at the world’s largest single-train refinery strengthens Nigeria’s energy security, conserves foreign exchange, and boosts economic resilience,” the statement noted.

The firm praised the President’s Naira-for-Crude initiative, which it said has enabled consistent price cuts on petroleum products.

The refinery also assured stakeholders of its continued focus on affordability, quality and national interest in its operations.

Meanwhile, the refinery has taken delivery of 146,000 metric tonnes of crude oil, with another 125,000 metric tonnes expected soon.

Additionally, three vessels have arrived to lift jet fuel exports, further positioning the facility as a key player in the global energy market.

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Business

Africa Pushes for Cheaper Flights, Seamless Skies

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By Oso Abidemi 

Top aviation leaders from seven West African countries have renewed the call for urgent adoption of a single air transport market to lower ticket prices and improve connectivity across Africa.

Speaking at the 18th plenary of the Banjul Accord Group in Abuja, Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, said implementing the Single African Air Transport Market (SAATM), would transform travel on the continent.

“It is time Africa connected itself more. SAATM will make flights shorter, cheaper, and more efficient,” he said.

Keyamo described SAATM as a key driver for realizing the African Union’s Agenda 2063 and boosting global competitiveness.

Also speaking, Secretary-General of the African Civil Aviation Council, Adefunke Adeyemi, urged countries to embed SAATM into their national laws and empower aviation regulators to make it work.

Nigeria’s Civil Aviation chief, Captain Chris Najomo, called the meeting an opportunity to tackle major challenges such as infrastructure gaps, skilled manpower shortages, safety risks, and digital transformation.

The gathering includes aviation authorities from Nigeria, Ghana, Liberia, Sierra Leone, Guinea, Cape Verde, and Gambia.

With firm backing from regional lawmakers and regulatory bodies, the push for unified skies across West Africa is gaining momentum.

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Abuja Reports

Abuja: Tinubu, Akpabio Lead Talks on Real Estate Reform

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By Ekaete Bassey

President Bola Ahmed Tinubu and Senate President Godswill Akpabio are billed to headline the 55th Annual National Conference and Annual General Meeting of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), in Abuja.

The week-long event, themed “Transform, Invest, Thrive: Optimising Real Estate Finance and Taxation,” will run from May 5 to 10 at the Abuja Continental Hotel.

A statement by NIESV’s National Publicity Secretary, ESV Richard Olodu, confirmed Tinubu will serve as the special guest of honour, while Akpabio will attend as guest of honour.

The conference aims to chart a transformative path for real estate development through deeper fiscal reforms and investment strategies.

Also expected at the high-powered gathering are Minister of the Federal Capital Territory, Nyesom Wike; Minister of Housing, Ahmed Dangiwa; and Minister of Finance, Wale Edun.

Chairman of the Federal Inland Revenue Service and Presidential Adviser on Revenue, Dr. Zacch Adedeji, will deliver the keynote address, expected to dissect current tax policies and their impact on property financing.

NIESV President, ESV Victor Adekunle Alonge, has extended an open invitation to estate professionals, public sector leaders, investors and diaspora stakeholders to partake in what he described as a defining moment for Nigeria’s real estate sector.

The conference is projected to offer insights capable of unlocking economic growth, with real estate positioned as a strategic anchor.

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