Business
Dangote investments are catalysts for Africa’s economic growth, says AFC, experts
· 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.
Energy
Axxela expands gas pipeline network across 3 states, showcases strong performance
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.
Energy
Asharami Square Fellowship’ll Promote Solutions Journalism for Africa’s Energy Future – Ndisika
- Fellowship submission deadline now November 30, 2026_
Banking
FirstBank moves to boost SMEs sales, revenue
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.
-
Art & Life9 years agoThese ’90s fashion trends are making a comeback in 2017
-
Business9 years agoThe 9 worst mistakes you can ever make at work
-
Entertainment9 years agoThe final 6 ‘Game of Thrones’ episodes might feel like a full season
-
Art & Life9 years agoAccording to Dior Couture, this taboo fashion accessory is back
-
Entertainment9 years agoThe old and New Edition cast comes together to perform
-
Entertainment9 years agoMod turns ‘Counter-Strike’ into a ‘Tekken’ clone with fighting chickens
-
Sports9 years agoPhillies’ Aaron Altherr makes mind-boggling barehanded play
-
Entertainment9 years agoDisney’s live-action Aladdin finally finds its stars
