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Dangote investments are catalysts for Africa’s economic growth, says AFC, experts

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· Call for stronger support for indigenous manufacturers

 

By Oluwayanmife Lucas

Leading economists, financial experts and industry stakeholders have described the Dangote Group’s investments as major drivers of industrialisation and economic transformation across Nigeria and Africa, citing their impact on job creation, import substitution, foreign exchange conservation and economic competitiveness.

The experts spoke at the Lagos Economic Summit themed: “The Real Deal: Africa’s Greatest Investment Opportunity,” where they urged governments to implement policies that strengthen local industries and accelerate economic diversification.

President and Chief Executive Officer of the Africa Finance Corporation (AFC), Samaila Zubairu, commended the Dangote Group’s sustained investments across Africa, describing them as critical to unlocking the continent’s economic potential. He noted that while recent economic reforms have improved foreign exchange stability, strengthened reserves and eased inflationary pressures, the focus must now shift to growth in industry, productivity and employment.

Also speaking, Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, said industrialisation remains the most effective path to sustainable economic development. He called for better alignment of trade and industrial policies, stressing that local manufacturers require strategic support to compete effectively and drive broader economic benefits.

Founder and CEO of Nairametrics, Ugodre Obi-Chukwu, said Africa’s growing population presents a significant industrial opportunity, noting that investments such as the Dangote Refinery are helping to retain capital within the continent while strengthening local production capacity.

In his keynote address, Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, said Nigeria is gradually transitioning from a consumption-led economy to one driven by investment and production. He added that sustained investments in productive sectors will continue to stimulate growth, create jobs and improve living standards.

Participants at the summit also advocated stronger credit infrastructure, improved national identification systems and increased investment in skills development to enhance the productivity and global competitiveness of Africa’s growing youth population.

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Energy

Axxela expands gas pipeline network across 3 states, showcases strong performance

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By Oluwayanmife Lucas

Axxela Limited, a gas and power portfolio company in sub-Saharan Africa, has published its 2025 Sustainability Report, providing a comprehensive overview of the company’s environmental, social and governance performance across its operations during the year.

The report, themed: “Enabling Access, Deepening Impact”, highlights Axxela’s performance across key metrics and underscores its efforts to expand its infrastructure footprint, deepen stakeholder engagement and strengthen responsible business practices.

In the year under review, Axxela expanded its gas pipeline network by 39km, enhancing connectivity across Lagos, Ogun and Rivers states. The company also recorded zero fatalities and achieved 9.6 million Lost Time Injury (LTI) free man-hours across its operations.

In addition, the firm also strengthened its customer portfolio by connecting new industrial and commercial customers to its network. Other significant milestones include achieving Great Place to Work certification and receiving a Gold Medal rating in the EcoVadis Sustainability Assessment, placing Axxela among the top five per cent of companies assessed globally.

Commenting on the report, Group Chief Executive Officer, Axxela, Moshood Olajide, emphasised that the firm’s 2025 performance reflected the company’s commitment to responsible growth and long-term value creation.

“Expanding domestic gas utilisation remains central to our strategy. Each new customer connection supports cleaner and more efficient energy use, helping industries improve efficiency and reduce reliance on traditionally dirtier fuels. Our growth remains anchored in responsible infrastructure development and long-term value creation. We will continue to support Nigeria’s transition towards a more sustainable gas-powered economy,” he said.

The report also outlines Axxela’s approach to environmental management, including environmental monitoring, operational controls and rehabilitation programmes designed to minimise environmental disturbance and protect biodiversity.

The company maintained environmental compliance registers, conducted annual compliance audits and risk assessments, and carried out quarterly emerging risk scans across its operations and projects.

Axxela’s 2025 Sustainability Report, its ninth consecutive edition, was prepared in line with the core requirements of the Global Reporting Initiative (GRI) Standards and builds on the reporting discipline and frameworks established over previous reporting years. The report highlights the company’s steadfast commitment to transparent disclosure, responsible business practices and long-term value creation, while detailing the progress, priorities and actions shaping its approach to sustainable and responsible growth.

 

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Energy

Asharami Square Fellowship’ll Promote Solutions Journalism for Africa’s Energy Future – Ndisika

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  • Fellowship submission deadline now November 30, 2026_
By Oluwayanmife Lucas
Africa’s energy future will be shaped not only by infrastructure, financing and policy reforms, but also by the quality of journalism informing public understanding of the continent’s energy realities, according to Professor Abigail Ogwezzy-Ndisika, Lead Assessor for the inaugural Asharami Square Energy Reporting Fellowship.
Ogwezzy-Ndisika called on journalists across Africa to move beyond problem-centred reporting and embrace solutions journalism as a catalyst for sustainable development and energy transformation.
Open to practising journalists across print, broadcast, digital and multimedia platforms, the Asharami Square Energy
Reporting Fellowship offers access to expert-led masterclasses, mentorship opportunities, facility tours and engagement with industry experts. The overall winner will receive a $3,500 grand prize as part of a Fellowship package valued at up to $5,000.
The communications scholar said energy reporting has traditionally focused on grid collapses, energy poverty, policy bottlenecks and funding deficits.
“Pointing out the darkness without illuminating the pathways to light leaves our communities paralysed by despair rather than empowered to act,” she noted.
Describing the Asharami Square Energy Reporting Fellowship as a transformative initiative, she said it seeks to elevate African journalists from chroniclers of energy challenges to contributors to Africa’s energy transformation journey.
“We are looking for stories that inform public discourse, influence legislative action and hold power accountable. Journalists must not settle for shallow headlines. They should trace the funding, critique the technology, interrogate the policies and highlight the responses transforming Africa’s energy landscape,”
Ogwezzy-Ndisika stressed that solutions journalism is neither advocacy nor public relations, but evidence-based reporting grounded in accountability, scrutiny and measurable impact.
“When African journalists apply this framework to energy funding, decentralised mini-grids or regulatory reform, they don’t just report on power, they generate power. They shift public debate from asking why Africa is in the dark to exploring how communities, innovators, financiers and policymakers are helping keep the lights on and what can be scaled,” she said.
Speaking on the significance of the initiative, Bethel Obioma, Head, Corporate Communications, Sahara Group, said the Fellowship reflects the Sahara’s belief that journalism has a critical role to play in advancing Africa’s energy future.
“Africa’s energy story requires more than reporting challenges. It requires journalism that interrogates responses, highlights practical solutions and deepens public understanding of the realities shaping the continent’s energy landscape,” he said.
Obioma said Sahara would through thie Fellowship support journalists who can tell evidence-based stories that influence policy, investment and development outcomes. “We urge African journalists to visit www.asharamisquarefellowship.com to apply today ahead of the November 30th, 2026 deadline,” he added.
He noted that submissions will be evaluated on five key pillars: integrity and accuracy, originality and depth of research, balance and context, solutions-focused rigour, and practical impact.
Assessors will prioritise stories supported by credible data, strong fact-checking, under-reported perspectives and evidence of real-world impact.
The Asharami Energy Reporting Fellowship, established under Sahara’s Beyond XXX platform, is designed to strengthen journalism around energy access, infrastructure, financing, sustainability, innovation and policy across Africa. It forms part of Sahara’s commitment to investing in platforms and people that help shape Africa’s future through informed discourse and practical action.
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Banking

FirstBank moves to boost SMEs  sales, revenue

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By Monireoluwa Lucas

FirstBank has moved to equip small and medium-sized enterprises (SMEs) with practical strategies to win customers, increase sales and build sustainable businesses as it hosts the third-quarter edition of its SMEConnect Webinar on September 9, 2026.

The webinar, themed “The SME Growth Blueprint: Practical Sales Strategies to Win Customers and Boost Revenue,” is part of FirstBank’s capacity-building initiative aimed at helping entrepreneurs overcome some of the challenges limiting business growth and competitiveness.

The programme, anchored on the bank’s “You First” brand promise, is designed to provide business owners with practical knowledge, market insights and access to financial and advisory solutions tailored to their needs.

Participants are expected to gain insights into strategies for improving brand visibility, attracting and retaining customers, increasing sales conversion and building customer loyalty, with the broader objective of driving sustainable business growth.

The webinar will feature Chief Executive Officer and Founder, Bags Warehouse, Helen Mojisola Ijaola; Founder and Chief Executive Officer, Mamalicious Products Nigeria, Onome Gbenga-Adewara; and Group Head, Retail Banking Group, FirstBank, Olusola Ogunsakin.

Head, SME Banking, FirstBank, Helen A. Willie, will host the session, while Team Lead, SME Engagement & Advisory, FirstBank, Olajumoke Moyo-Ladipo, will serve as moderator.

Speaking ahead of the webinar, Group Executive, e-Business and Retail Products, FirstBank, Chuma Ezirim, said the ability of SMEs to develop effective sales strategies was critical to converting business opportunities into sustainable revenue.

He stated: “Growth is not accidental; it is driven by the ability of businesses to create value, win customers, and convert opportunities into sustainable revenue.

“At FirstBank, we recognise that many SMEs possess great products and services but often require practical sales strategies to unlock their full potential. This SMEConnect Webinar is designed to bridge that gap by providing insights from successful business leaders who have built and scaled thriving enterprises.Through these initiatives, we continue to demonstrate our commitment to equipping SMEs with the knowledge, capacity, and support needed to accelerate growth, create jobs, and strengthen Nigeria’s economy.”

SMEConnect is part of FirstBank’s broader efforts to support the growth and resilience of SMEs through capacity development, business advisory services and financial solutions.

 

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