Business
Dangote continues dominance in Africa on Forbes’ Billionaires List
Aliko Dangote has once again cemented his place as Africa’s wealthiest man, topping Forbes’ Real-Time Billionaires List with a net worth of $24.4 billion and ranking 88th globally.
The latest ranking, released on Saturday, underscores Dangote’s unmatched dominance in Africa’s wealth hierarchy, where he stands far ahead of his Nigerian peers. Abdulsamad Rabiu follows at $7.2 billion (#516), Mike Adenuga at $6.3 billion (#592), and Femi Otedola at $1.5 billion (#2424).
Dangote’s wealth is more than triple Rabiu’s, nearly four times Adenuga’s, and over 16 times Otedola’s, a testament to his commanding presence on the continent’s billionaire stage.
Since first appearing on Forbes’ list in 2008, Dangote has remained a fixture, reclaiming his spot in 2011 and holding the title of Africa’s richest man for 14 consecutive years. His fortune, largely driven by cement, sugar, and the landmark petroleum refinery launched in 2023, has reinforced his role as a symbol of Nigeria’s industrial strength.
While Dangote leads, other Nigerian billionaires continue to secure their places. Rabiu, with strongholds in cement and sugar, and Adenuga, with investments in telecommunications and oil, remain prominent players. Otedola, whose portfolio spans energy and utilities, made a return to the list after years away, reflecting renewed momentum in his business empire.
Together, the four represent Nigeria’s concentration of billionaire wealth across a handful of critical sectors—manufacturing, oil, telecommunications, and power.
In South Africa, luxury goods tycoon Johann Rupert tops the chart at $13.2bn, followed by former diamond boss Nicky Oppenheimer, with $10.4bn.
Others include Koos Bekker with $3.8bn, mining magnate Patrice Motsepe with $3.4bn, banker Michiel le Roux with $2.7bn, Jannie Mouton and family with $1.9bn, and retail investor Christoffel Wiese with $1.7bn.
Egypt’s wealthy cohort is headlined by Nassef Sawiris ($8.8bn) and Naguib Sawiris ($5.0bn).
The Mansour brothers, Mohamed ($3.4bn), Youssef ($1.4bn), and Yasseen ($1.2bn), complete the country’s strong showing.
Beyond the three dominant nations, Eswatini’s Nathan Kirsh holds a net worth of $8.0bn.
Morocco contributes three names: Othman Benjelloun & family ($2.0bn), Aziz Akhannouch ($1.6bn), and Anas Sefrioui & family ($1.6bn).
Tanzania’s Mohammed Dewji sits at $2.2bn, while Zimbabwe’s Strive Masiyiwa has $1.3bn.
Energy
8,500 transmission capacity: Low demand stalls generation of 3,500MW
• Nigeria conducts grid synchronisation test connecting 15 countries for four hours
The Ministry of Power yesterday said despite the availability of 8,500MW transmission capacity in the Nigerian Electricity Supply Industry (NESI), low demand from the Distribution Companies (DisCos) has limited generation to 5,000MW, stalling 3,500MW.
As of July 17, 2025, the wheeling capacity was 5,500MW.
But the ministry disclosed its recent wheeling capacity in Abuja during a media briefing where it announced that Nigeria successfully conducted a grid synchronization test with 15 West African countries for four hours on November 8, 2025.
“Today, the minimum grid capacity we can even communicate is 8,500MW of capacity. If our generation reaches 8,000 MW today, the grid can comfortably and conveniently transmit it,” Adelabu said.
Besides, the Nigerian Independent System Operator (NISO), Market Operation Executive Director, Dr. Edmund Eje, explained that since electricity cannot be stored, the industry only generates energy based on demand.
His words: “The amount of energy generated is equal to the amount of energy that will be transmitted, and it is also equal to the amount of energy that is demanded by the distribution companies. It is simultaneously consumed.
“You don’t stall energy anywhere. The transmission capacity can carry 8,500MW, but it can only carry what can be consumed. Generators will not generate more than what will be consumed at the same time.”
On synchronization, he said the feat of successful synchronization will not affect the allocation of energy for domestic consumption.
Eje said that although there is a regulation that Nigeria allocates 600MW for bilateral trade, production constraints presently limit it to 360MW.
Adelabu, however, described the synchronization test success as a step towards the elimination of grid collapse from the industry, noting it means that there is confidence that the system is now resilient.
He described it as a landmark development in the evolution of West Africa’s electricity architecture.
He confirmed that on 8th November 2025, Nigeria successfully conducted a grid synchronisation test connecting the national electricity grid with the interconnected West African Power Pool (WAPP) system.
According to him, the exercise represents the first time in history that Nigeria has operated in a unified, stable, and fully harmonised configuration with the rest of the sub-region.
He clarified that while it is not yet a permanent synchronisation, the successful test clearly demonstrates that regional technical alignment is feasible and marks a major step toward eventual full integration.
Adelabu further noted that the synchronisation exercise, conducted between 05:04 a.m. and 09:04 a.m., involved the Nigerian grid which includes Niger Republic and parts of Benin and Togo and the rest of West Africa’s interconnected systems covering Ghana, Côte d’Ivoire, Burkina Faso, Liberia, Sierra Leone, Guinea, Senegal, The Gambia, Guinea Bissau, and Mali.
He said for four uninterrupted hours, power flowed seamlessly across national borders, operating at a single stable frequency and proving that West Africa is now technically capable of functioning as a unified power bloc.
He said the achievement ranks among the most significant milestones in the history of WAPP.
He said the test marks the first successful large-scale synchronisation attempt since 2007, when a short-lived trial lasted only seven minutes before failing.
Adelabu said Nigeria has made history with the successful synchronization of the national grid with the West African Power Pool interconnected system.
For four unbroken hours, according to him, electricity flowed from Nigeria and Niger into the entire West African sub-region covering Benin, Togo, Ghana, Côte d’Ivoire, Liberia, Sierra Leone, Guinea, Senegal, Mali, The Gambia, and Guinea-Bissau operating at a single, stabilized frequency.
Earlier at the NISO Maiden Stakeholders’ Engagement, the Managing Director, Engr. Abdul Mohammed said the milestone recorded with the synchronization milestone is more than a technical success, since it positions Nigeria as a regional power hub; opens new avenues for electricity trading; unlocks foreign exchange potential; and reinforces investor confidence in the emerging Nigerian electricity market.
According to him, a resilient electricity market requires more than engineering; it requires relationships.
He said it requires trust among service providers, trust between the market and regulators, trust between the government and operators, and, above all, trust from the Nigerian people.
Business
UK–Nigeria Mission targets $32m market gap, connects women exporters
By Grace Edet
The country’s efforts to deepen women’s participation in global trade received a major boost this week as the International Trade Centre (ITC) and the Nigerian Export Promotion Council (NEPC) convened a UK-funded trade mission in Abuja, connecting 30 Nigerian women-led businesses with 12 UK importers.
The mission is aimed at unlocking an estimated $32 million in untapped export potential between both countries.
Backed by the UK government under the SheTrades Commonwealth+ Programme, the three-day mission (18–20 November) focuses on agrifood and beauty products—two sectors where Nigerian women entrepreneurs already show strong competitiveness but low formal export participation.
Speaking at the opening session, British Deputy High Commissioner to Nigeria, Gill Lever OBE, said the UK remains committed to strengthening market access for Nigerian women entrepreneurs.
“The UK is committed to supporting Nigerian women entrepreneurs to access international markets and grow their businesses.
“This SheTrades mission demonstrates the enormous potential for Nigerian agrifood and beauty products in the UK market. The success we’ve already seen, with over $300,000 in sales generated, shows what’s possible when we unlock opportunities for women in trade,” Lever said.
She noted that the mission builds on the UK’s Developing Countries Trading Scheme (DCTS), which grants duty-free and quota-free access to at least 92 per cent of Nigerian products entering the UK market.
NEPC’s Executive Director/CEO, Nonye Ayeni, emphasised that women remain central to driving Nigeria’s export expansion.
“The best man for the job is a woman because women are resilient, dogged and determined. We have the spirit that never says die. Women!!! Nothing dies in our hands,” she said.
Ayeni added that the mission aligns with NEPC’s efforts to broaden Nigeria’s non-oil export base by integrating women-led businesses into high-value international markets.
ITC Programme Manager for SheTrades Commonwealth+, Michelle Kristy, said there is strong appetite for Nigerian-made agrifood and beauty products among UK buyers.
She said: “The potential for Nigerian women-led businesses and their products to enter the UK market is truly immense.
“This trade mission is about building bridges, connecting these talented women entrepreneurs with potential buyers and providing them a platform to flourish.”
The Abuja mission follows a series of engagements earlier in the year, including articipation of 5 Nigerian women-led firms at Halal Expo Manchester, and business-to-business meetings in the UK, over $300,000 in new sales and leads generated across agrifood and beauty categories.
ITC is also partnering with Nigeria’s Bureau of Public Procurement and the UN CEDAW Committee to finalise an affirmative procurement policy that will open public tenders to women, youth, persons with disabilities, and other excluded groups.
Between 2024 and 2025, the SheTrades Commonwealth+ Programme has trained more than 1,000 Nigerian women entrepreneurs in branding, digital marketing, and export readiness. It has also supported shea product manufacturers in meeting certification and audit requirements, while hosting major exhibitions, including the HerShowcase event in Abuja, which featured over 75 women-led brands.
NEPC continues to host the SheTrades Nigeria Hub, a platform providing export advisory, capacity building and market linkages for women-led businesses across the country.
Maritime
Trade facilitation: NSC tinkers cut in 21-day dwell time at ports
• Trains maritime police to curb clearance bottlenecks
By Grace Edet
The Nigerian Shippers’ Council has intensified efforts to tackle the country’s prolonged cargo clearance delays—currently averaging 21 days, and considered one of the longest globally, by strengthening collaboration with the Maritime Police Command through a new capacity-building programme.
The workshop with the theme: “Facilitating Port Efficiency: The Strategic Role of the Maritime Police”, held yesterday, in Lagos.
Declaring the training open on behalf of the Council’s Executive Secretary/CEO Pius Akutah, the Director, Regulatory Services Department, Margaret Ogbonnah, said the event marks “a high-point” in the port regulator’s long-standing partnership with the Nigeria Police, especially as the Federal Government pushes for more efficient port operations under the blue economy reform agenda.
In his remarks, the ES noted that the country continues to lag behind regional and global peers in cargo clearance speed.
“While it takes only 6 hours to clear a containerised cargo in Singapore and seven days in Lomé, it takes an average of 21 days or more in Nigerian ports. This has contributed to Nigeria’s low global perception index on Ease of Doing Business,” he said.
He explained that despite several government interventions, reductions in dwell time have been hindered by a combination of operational gaps and human-factor-related delays.
Akutah said the Council has received reports from port stakeholders about various forms of interference affecting cargo movement, including detention orders placed on cargo already cleared through due process, operational disruptions linked to multi-layered enforcement activities, and accidents involving personnel of shipping companies and terminals
He emphasised that such actions—whether arising from misunderstandings or procedural oversights, tend to extend dwell time and increase demurrage and storage charges for businesses.
“Investigations often showed that some actions were carried out without the knowledge of the appropriate authorities within the Maritime Police Command,” he said.
This, he added, prompted both institutions to engage the Inspector General of Police in 2018, resulting in a directive that only letters signed by the AIG or duly designated officers should be acted upon, thereby streamlining enforcement communication at the ports.
“Together, we have achieved quite a lot, but we cannot rest on past achievements. Our focus must be firmly on attaining international best practices,” Akutah said.
Represented by the Assistant Commissioner of Police Administration, Ports Authority Police, Western Command, ACP Olufikayo Fawole, the Assistant Inspector-General of Police (Maritime Command), AIG Chinedu Oko, commended the NSC for sustaining a collaborative platform that supports law enforcement efficiency within the maritime environment.
“Modern port security goes far beyond traditional policing. The efficiency of our ports depends significantly on how effectively law enforcement interfaces with operators, regulators, freight forwarders, shipping lines, and the wider supply chain,” he said.
He stressed that the Maritime Police play a critical role in securing maritime assets, deterring cargo-related crimes, preventing pilferage, and ensuring that legitimate trade flows without avoidable friction.
“Your professionalism and integrity directly influence the confidence of shippers, investors, and the international maritime community,” he told participating officers.
Delivering the technical paper on behalf of the AIG, DCP Chukwuemeka Obasi said the efficiency of the country’s ports is inseparable from the security framework supporting them.
He outlined three key reform pillars guiding police operations toward improved port efficiency. The first focused on operational streamlining by harmonising enforcement roles with the Nigerian Ports Authority (NPA), Nigeria Customs Service, NIMASA and other agencies to eliminate duplication.
The second emphasised technology integration, particularly the deployment of digital surveillance systems, cargo-monitoring platforms and intelligence tools under initiatives such as the Deep Blue Project. The third pillar centred on strengthening stakeholder collaboration by enhancing joint task forces and port security committees to ensure more coordinated maritime security responses.
However, he noted persistent challenges including overlapping mandates among agencies, limited patrol and surveillance logistics, legal bottlenecks in prosecuting maritime offences, and ethical concerns that can undermine efficiency.
To address these, he recommended joint security frameworks, expanded specialised training, smart surveillance, legal reforms, and stronger accountability systems, insisting that policing must support, not obstruct, trade facilitation.
In closing, the NSC boss reaffirmed that port efficiency cannot be achieved by one institution alone.
“Our mandate as Port Economic Regulator is to ensure efficiency, but it requires synergy with the Maritime Police and all stakeholders. This training is part of our commitment to educating officers and promoting global standards in port operations,” he said.
He commended officers of the Council and the Maritime Police Command for their role in organising the programme and urged participants to apply lessons learned to their daily operational decisions.
With Nigeria still grappling with a 21-day average cargo dwell time, the NSC says eliminating procedural bottlenecks, improving security coordination, and strengthening professionalism within port corridors remain central to restoring competitiveness. The Council and the Maritime Police believe that enhanced capacity, technology-driven enforcement and regulatory collaboration will be key to improving trade facilitation and supporting the country’s blue economy ambitions.
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