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Finance

Africa’s Richest Man Retires from Refinery After 20 Years as Chairman

Dangote Steps Down as Chairman After Two Decades Aliko Dangote , widely recognized as Africa’s richest man , has officially retired as Chairman of the Board of Directors of Dangote Sugar Refinery Plc after serving in that role for over 20 years . His exit marks a major milestone in the history of one of Nigeria’s most iconic industrial enterprises. Dangote, who founded the Dangote Group , has played a central role in shaping the Nigerian sugar industry, driving local production, and reducing reliance on imports. Under his leadership, the refinery became a dominant force in West Africa, known for its efficiency, scale, and commitment to quality. A Legacy of Vision and Impact During his tenure, Dangote oversaw significant growth and modernization of the sugar refining sector in Nigeria. He championed investments in infrastructure, technology upgrades, and policy advocacy aimed […]

Mujahid Yusuf June 15, 2025

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Culture

Creatives Seek $326M FG Support to Boost Sector

Over $326M Requested as FG Opens Creative Fund In just 30 days since applications opened, 1,230 businesses and creatives have applied for funding under Nigeria’s new Creative Economy Development Fund (CEDF) , requesting a total of $326 million . The fund, launched by the Federal Ministry of Arts, Culture, Tourism, and Creative Economy (FMACTCE) , aims to support innovation, job creation, and economic diversification across Nigeria’s creative sector. Applicants include both creative and non-creative businesses , showing strong interest in the program. Of those who applied: 71% requested grants 11% chose debt financing 7% opted for equity investment This early surge highlights the high demand for structured financial support among Nigeria’s creative entrepreneurs. Government Launches First Phase of CEDF The Federal Executive Council (FEC) recently approved the first phase of the Creative Economy Development Fund , marking a major step […]

Mujahid Yusuf June 13, 2025

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Finance

Nigeria’s Oil Grades Near $80 as Israel-Iran Tensions Escalate

Nigerian Oil Hits Near-$80 Mark Amid Middle East Tensions Nigeria’s main crude oil grades—Bonny Light and Escravos Light —are now trading close to the key $80 per barrel level. This rise follows growing fears over a potential escalation in the conflict between Israel and Iran . On Friday, Brent crude futures surged nearly 8% , fueled by concerns about regional instability after Iran vowed to retaliate for recent attacks by Israel. This market movement has directly affected Nigerian crude, with both Brass River and Qua Iboe nearing the $80 mark. According to data from OilPrice.com , Brass River is currently trading at $77.09/barrel , up $5.24 (7.29%) , while Qua Iboe stands at $77.14/barrel , also up $5.24 (7.29%) . Though this price jump offers some relief to Nigeria’s strained budget, it highlights how vulnerable the country remains to global […]

Mujahid Yusuf June 13, 2025

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Events

Le Port de Lomé en Mode Turbo : Stratégie Gagnante pour Dominer le Commerce Régional

Lomé Port 2.0 : La Transformation Express Le gouvernement togolais a dévoilé ce mardi sa feuille de route accélérée pour hisser le Port Autonome de Lomé (PAL) au rang de hub logistique incontournable en Afrique de l'Ouest. Objectif : concrétiser la vision du Plan Stratégique 2020-2025. Les 3 Piliers de la Révolution Portuaire Management Ultra-Efficient Veille permanente sur les ports concurrents Optimisation continue des processus Système d'Amarrage Intelligent Réservation de créneaux rigoureuse Visibilité accrue pour les armateurs Offensive Commerciale Aggressive Stratégie marketing proactive Tarifs compétitifs face à la concurrence sous-régionale Les Atouts Chocs du PAL L'Écosystème Adétikopé (PIA) : Le Turbo Logistique 📍 À 27 km du port✔ Port sec ultra-moderne✔ Parc à conteneurs (12 500 EVP/mois)✔ Zones logistiques intégrées✔ Parking sécurisé pour 700 camions Résultat : Fluidité optimale sur le corridor Lomé-Ouagadougou et sécurisation des flux vers le Sahel. Chiffres Qui Démontrent 🚀 +17,97% de trafic en 4 ans📈 30,64 millions de tonnes manipulées en 2024🏆 4ème […]

Mahmud Auta June 11, 2025

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Finance

Togo Lance l’Exploitation de la Mine de Manganèse de Nayega : Un Projet Stratégique pour l’Économie Nationale

Une Nouvelle Ère Minière pour le Togo Le Togo franchit une étape majeure dans son développement industriel avec le démarrage de l'exploitation de la mine de manganèse de Nayega, située dans la région des Savanes. Selon un communiqué de Keras Resources, partenaire technique du gouvernement togolais, la production débutera fin juin 2025 avec : 4 000 tonnes/mois en phase initiale 8 000 tonnes/mois à pleine capacité Un Minerai Stratégique pour l'Économie Mondiale Le manganèse, indispensable pour :✔ L'industrie sidérurgique (production d'aciers spéciaux)✔ La révolution verte (batteries pour véhicules électriques)✔ Les technologies renouvelables représente une opportunité économique majeure pour le Togo. Chiffres Clés du Projet Réserves estimées : 8,5 millions de tonnes Durée d'exploitation prévue : 11 ans Modèle économique : L'État togolais détient la mine via la Société Togolaise de Manganèse (STM) Keras Resources perçoit : 1,5% des revenus bruts pour conseil technique 6% pour services de courtage Impacts Économiques et Perspectives 1. Renforcement des Revenus Nationaux Ce […]

Mahmud Auta June 10, 2025

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Events

“Togo d’Abord” : Une Nouvelle Coalition d’Opposition pour les Municipales

Quatre Partis Unis pour Challenger le Pouvoir Quatre partis d'opposition togolais viennent de former une alliance électorale inédite baptisée "Togo d'Abord" en vue des prochaines élections municipales. Cette coalition regroupe : Le Parti Démocratique Panafricain (PDP) Le Mouvement Citoyen pour la Démocratie et le Développement (MCD) La Convergence Patriotique Panafricaine (CPP) Le Mouvement des Républicains Centristes (MRC) Une Réponse aux Défaites Passées Cette initiative fait suite aux résultats désastreux de l'opposition aux dernières élections : 108 sièges sur 113 pour l'UNIR (parti au pouvoir) à l'Assemblée Nationale 137 sièges sur 179 aux élections régionales Innocent Kagbara, président du PDP, explique cette démarche :"La combinaison des expertises individuelles est source de prospérité pour notre pays. L'urgence le justifie." Stratégie et Objectifs de la Coalition 1. Une Approche Pragmatique La coalition entend :✔ Élargir sa base électorale✔ Proposer des alternatives crédibles✔ Tirer les leçons des échecs passés 2. Un […]

Mahmud Auta June 10, 2025

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Finance

Pascal Agboyibo : L’Avocat Togolais au Cœur d’un Partenariat Minier Stratégique RDC-USA

Un Togolais dans les Négociations Clés sur les Minerais Critiques Pascal Agboyibo, avocat togolais et fils de l’ancien Premier ministre Yawovi Agboyibo, joue un rôle central dans les discussions entre la République Démocratique du Congo (RDC) et les États-Unis autour d’un partenariat stratégique sur les minerais critiques. Il est le seul représentant togolais au sein d’une unité de coordination stratégique de 22 membres, composée de hautes personnalités congolaises, dont :✔ Le chef de cabinet du président✔ Le ministre des Affaires étrangères✔ Le ministre des Mines Un Accord aux Enjeux Majeurs Ce partenariat, une fois finalisé, permettra :🔹 Aux États-Unis d’accéder aux ressources minières stratégiques de la RDC (cobalt, lithium, coltan).🔹 À la RDC de bénéficier d’un soutien accru pour stabiliser l’Est du pays, en proie aux conflits armés. Pascal Agboyibo : Un Expert du Droit Minier et des Projets Stratégiques Fondateur du cabinet international Asafo & Co, Pascal Agboyibo est reconnu pour son expertise en :⚖ Droit minier💼 Finance structurée🏗 Projets d’infrastructure Présent […]

Mahmud Auta June 10, 2025

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Events

IAWPA Unveils Solar Fan Project in Niger Delta Ahead of NDDC’s 25th Anniversary

IAWPA Commends NDDC on 25 Years of Service The International Association of World Peace Advocates (IAWPA) has praised the Niger Delta Development Commission (NDDC) as it celebrates 25 years of service to the oil-rich Niger Delta region. In a statement released by the group's Media Director, Ambassador Nwokoma Messiah , IAWPA highlighted the Commission’s efforts in driving transformation, innovation, and regional progress. “We commend the Commission’s developmental role in the Niger Delta, transforming lives and promoting sustainable development.” The statement also applauded Dr. Samuel Ogbuku , Managing Director of NDDC, for his leadership and positive impact since assuming office. “His leadership has ushered in a new era of development, innovation, and progress in the region.” Solar Fans to Be Distributed Under New Sustainability Initiative As part of its ongoing support for clean energy and climate action, IAWPA announced plans to […]

Mujahid Yusuf June 10, 2025

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Finance

Nigeria’s $5 Billion Oil-Backed Loan from Aramco Stalls Amid Falling Crude Prices

Talks on $5B Oil Loan With Aramco Slow Down Discussions between Nigeria and Saudi Aramco over a $5 billion oil-backed loan have stalled as falling crude prices complicate negotiations. Reuters reports that the drop in global oil prices has made it harder for both sides to agree on terms for what would be Nigeria’s largest such deal and Aramco’s first major financing move in the country. “It’s hard to find anyone to underwrite it,” said one source familiar with the talks. The delay comes at a critical time, as Nigeria seeks foreign loans to support its 2025 budget amid rising fiscal pressures and limited revenue sources. Oil Price Drop Puts Pressure on Deal Oil prices have fallen by about 20% , with Brent crude now trading around $65 per barrel , down from over $82 in January . This decline […]

Mujahid Yusuf June 10, 2025

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Finance

FG’s Savings Surge by Over 500% After Petrol Subsidy Removal — NOA Report

Petrol Subsidy Removal Yields Massive Financial Gains The Federal Government’s savings jumped by over 500% in the first quarter of 2025 following the removal of petrol subsidies in 2023, according to a recent report by the National Orientation Agency (NOA) . This surge in revenue marks a major shift in Nigeria’s fiscal policy and has allowed the government to direct billions toward infrastructure, education, agriculture, and debt reduction. “For decades, oil subsidies were a major burden on our economy,” the report stated.“But today, we are seeing real progress thanks to President Tinubu’s bold decision.” A Historic Move That Stopped Billions in Waste President Bola Ahmed Tinubu ended the long-standing fuel subsidy regime shortly after taking office in 2023. The move stopped years of economic bleeding that had cost Nigeria over $84 billion between 2005 and 2022. Before the reform, fuel […]

Mujahid Yusuf June 10, 2025

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