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  • Vice President Shettima Hails Lagos as Nigeria’s Economic Powerhouse, Sparks Debate

    Vice President Kashim Shettima has described Lagos State as the economic backbone of Nigeria and a major driver of Africa’s commercial growth, praising its role in shaping leading business fortunes across the continent.

    Shettima made the remarks on Sunday during the opening of the Invest Lagos 3.0 Summit held at Eko Hotel and Suites, Victoria Island, Lagos, themed “Lagos: The Business Gateway to Africa.”

    Lagos as Africa’s Economic Engine

    Speaking at the summit, Shettima described Lagos as the “live wire” of Africa’s economy, noting that the state continues to serve as a hub for innovation, investment and enterprise.

    He said Lagos has played a central role in the rise of some of Africa’s most prominent business figures, highlighting its importance in Nigeria’s economic structure.

    “It was Lagos that gave Africa its richest man, not Kano. Aliko Dangote is a Lagos man,” he said.

    He also referenced BUA Group Chairman Abdulsamad Rabiu, saying Lagos had similarly played a key role in the expansion of his business empire.

    Debate Over Economic Narratives

    Shettima’s comments have since triggered debate online, with supporters praising Lagos as a thriving commercial hub that attracts investment and talent from across the country.

    Critics, however, argued that the remarks downplayed the origins and contributions of business leaders from other regions, insisting that their success stories are rooted in diverse backgrounds beyond Lagos.

    Dangote and Rabiu’s Business Roots

    Aliko Dangote, originally from Kano State, built his early trading ventures through commodity markets before expanding significantly via Lagos’ ports and industrial ecosystem.

    Similarly, Abdulsamad Rabiu, also from Kano, grew BUA Group into a major conglomerate spanning cement, sugar, and manufacturing, with Lagos serving as a central base for operations and expansion.

    Summit Focus

    The Invest Lagos 3.0 Summit brought together policymakers, investors and business leaders to explore opportunities in Africa’s largest city economy.

    Organisers said the event aims to promote investment, innovation and stronger public-private partnerships to support economic growth.

    The Vice President also linked Lagos’ performance to broader national goals, including Nigeria’s push toward a $1 trillion economy target under President Bola Tinubu’s administration.

     

  • Dangote Reveals Why He Refused to Buy Arsenal Despite Longtime Interest

    Africa’s richest man, Aliko Dangote, has revealed why he abandoned his long-standing ambition of purchasing Arsenal, despite coming close to making a move for the club.

    Dangote disclosed this during an interview with Nicolai Tangen, where he explained that he chose to focus his resources on completing the massive Dangote Refinery project instead.

    ‘I Nearly Bought Arsenal’

    The billionaire businessman said Arsenal was valued at around $2 billion at the time he seriously considered acquiring the club.

    According to him, he had to make a difficult decision between investing heavily in football ownership or concentrating on completing the refinery project, which later became one of Africa’s biggest industrial investments.

    “I’m a big Arsenal fan, yes, I nearly bought the team,” Dangote said.

    “When I was focused on buying Arsenal, I was also focused on the refinery getting to its completion. At the time, Arsenal was worth about 2 billion dollars, so I asked myself: should I put my 2 million dollars in Arsenal and allow the business to suffer, or continue the business and continue to remain a very big supporter of Arsenal?”

    Why He Chose Business Over Football

    Dangote said he eventually decided that remaining a loyal supporter of Arsenal made more sense than taking over ownership of the North London club.

    He added that his passion for the club remains strong, noting that he still follows their matches closely and proudly wears Arsenal jerseys whenever they play.

    “So I decided to continue to support them, watch their games. Any time Arsenal plays, I always wear the jersey. I am a fan, it is better I remain as a fan and continue to fund my business,” he said.

    Arsenal Now Too Expensive

    The billionaire also admitted that Arsenal’s current valuation has made any future takeover attempt less appealing financially.

    According to him, the club’s market value has risen sharply over the years, changing the economics of any potential deal.

    “And today they are worth billions, it is not worth the while,” he added.

    Dangote has repeatedly expressed admiration for Arsenal over the years, with previous comments about his interest in owning the club generating attention among football fans and business observers alike.

     

  • Dangote Targets London Listing as Cement Giant Plans Global Expansion

    Africa’s richest man, Aliko Dangote, has revealed plans to list Dangote Cement on the London Stock Exchange later this year as the company pushes for expansion and fresh international investment.

    The proposed move would see Dangote Cement secure a secondary listing in the United Kingdom, while also selling about 10 per cent of its shares to outside investors.

    Dangote confirms London plans

    Speaking to the Financial Times, Dangote said discussions around a dual listing had been ongoing for years but recent changes in the UK market made the move more attractive.

    “We want to do a dual listing. We’ve been thinking about it for seven to 10 years,” Dangote said.

    He added that London became a preferred option after the UK relaxed some of its listing requirements.

    “We ended up saying London is good as they have brought down the minimum listing requirements,” he stated.

    Dangote Cement currently has a market valuation of nearly $13 billion on the Nigerian Exchange.

    Banks reportedly selected

    According to reports, the cement company has already selected major financial institutions to advise on the planned listing.

    The banks reportedly include Citigroup, JPMorgan Chase and Standard Bank.

    The listing is expected to take place around September, depending on market conditions and investor interest.

    This would revive earlier attempts by Dangote Cement to enter the London market after previous plans failed to materialise.

    Expansion drive gathers pace

    Dangote also disclosed that the company plans to increase its annual cement production capacity from 60 million tonnes to 100 million tonnes by 2030.

    He said new plants are already being developed in Nigeria to support export operations.

    “In Nigeria, work had already started on a plant for 6 million tonnes, with another 6 million tonnes of capacity to follow,” he said.

    Dangote Cement currently operates in 11 African countries and remains Africa’s largest producer of building materials.

    The company’s shares have reportedly gained more than 70 per cent this year.

    Refinery boosts wealth

    Dangote’s growing fortune has also been linked to the performance of his refinery business in Lagos.

    Bloomberg recently estimated his net worth at $35.4 billion, making him the richest person in Africa and the only African on Forbes’ list of the world’s 100 richest people.

    The billionaire also revealed plans to sell up to a 15 per cent stake in the Dangote refinery through an initial public offering in Lagos later this year.

    Arsenal dream postponed

    Dangote also revisited his long-standing interest in buying English football club Arsenal.

    According to him, he had to choose between completing his refinery project and pursuing ownership of the London club.

    “I asked myself, do I want to complete these projects or do I want to go and buy Arsenal?” he said.

    “I realised that, look, I have missed the boat.”

  • Alleged Dangote Worker’s ₦146k Salary Slip Sparks Debate Online

    An alleged employee of Dangote Group has triggered widespread reactions online after a payslip said to detail his monthly earnings surfaced on social media.

    The claim, which remains unverified, was shared on X (formerly Twitter) and has since fueled debate over salaries and working conditions in Nigeria.

    Payslip breakdown circulates online

    According to the post by @UnkleAyo, the worker reportedly earns about ₦146,351 monthly, including allowances and incentives.

    The breakdown listed a basic salary of ₦30,758, alongside housing, food, transport, and utility allowances.

    Other components reportedly included ₦45,000 as transport support and ₦20,270 as incentives, pushing the total figure higher.

    Worker alleges demanding conditions

    Beyond the salary details, the individual also raised concerns about working conditions.

    He claimed that contract staff are not entitled to leave benefits and are expected to meet strict performance targets.

    According to the message, workers are required to visit as many as 75 outlets weekly, with activities tracked through an app.

    Mixed reactions trail claims

    The post has sparked mixed reactions, with some users questioning whether the pay matches the workload described.

    Others pointed out that the information has not been independently verified and should be treated with caution.

    The development comes amid broader conversations around wages, labour standards, and employment conditions in Nigeria.

  • Adeosun Raises Alarm as Dangote Struggles to Find Skilled Workers in Nigeria

    Former Minister of Finance, Kemi Adeosun, has raised fresh concerns about Nigeria’s labour market, pointing to a widening gap between job seekers and employable skills.

    She made the remark during an appearance on Channels Television’s The Platform, citing a recent discussion with industrialist Aliko Dangote.

    “Too many CVs, not enough skills”

    Adeosun said Dangote expressed frustration over the difficulty of recruiting qualified staff locally, despite receiving large volumes of applications.

    “I had a conversation with Dangote recently… he told me it’s not that he wants to employ foreigners but he can’t get staff in Nigeria,” she said.

    She noted that the situation suggests a deeper structural issue within the country’s workforce.

    Growing mismatch in labour market

    According to Adeosun, the problem goes beyond unemployment figures, pointing instead to a disconnect between education and industry needs.

    She warned that many graduates lack practical, job-ready skills, making it difficult for employers to fill roles even when vacancies exist.

    Echoes of earlier concerns

    Her comments come shortly after Moniepoint CEO Tosin Eniolorunda revealed that the fintech company is struggling to fill over 500 roles due to a shortage of qualified candidates.

    The parallel concerns from both the industrial and tech sectors have intensified discussions around Nigeria’s workforce readiness.

    Online reactions highlight deeper tensions

    The remarks have triggered mixed reactions online, with some Nigerians blaming poor education and lack of training opportunities, while others questioned whether companies are offering competitive salaries.

    The debate continues to reflect broader concerns about wages, employability, and the future of Nigeria’s workforce.

  • Dangote Commits N550m to FUTO Hostel Project After Funding Remark

    President of Dangote Group, Aliko Dangote, has pledged N550 million for the construction of student hostels at the Federal University of Technology, Owerri (FUTO), to ease accommodation pressure.

    He made the announcement during a visit to the institution, stressing his commitment to supporting education infrastructure.

    Funding Remark Draws Attention

    Dangote revealed he had attempted to seek additional support from his daughter but was unsuccessful.

    “I have been trying to beg Zuweirah to give me some money, but she said she has already spent N1 trillion in the foundation,” he said.

    Despite this, he confirmed the project would go ahead.

    “But notwithstanding, we are going to build a hostel here at the cost of N550 million,” he added.

    Relief for Students

    The planned hostel is expected to address the growing shortage of accommodation at FUTO, where demand has continued to exceed available spaces.

    University communities have long raised concerns over housing challenges affecting students’ welfare and academic performance.

    Expanding Education Support

    Dangote has maintained a strong record of supporting education through his foundation and private initiatives.

    In a related development, he recently committed to constructing a N1.1 billion ultramodern hostel project linked to the University of Ilorin.

    The facility, initiated by the Ilorin Central Jumma’at Mosque, is designed to generate income for the mosque’s upkeep through student accommodation.

    Sustained Philanthropic Drive

    The latest pledge reinforces Dangote’s ongoing investment in education and infrastructure across Nigeria, as institutions continue to seek partnerships to bridge funding gaps.

  • Dangote Named in TIME100 2026 as Elumelu Praises “Indefatigable” African Billionaire

    Africa’s richest man, Aliko Dangote, has been named among TIME Magazine’s 100 Most Influential People in the World for 2026, marking his second appearance on the global list and reinforcing his position as one of Africa’s most prominent business figures.

    What happened

    TIME released the 2026 TIME100 list on Wednesday, recognising individuals shaping global conversations across business, politics, technology, and culture.

    Dangote, the only Nigerian on the list, was featured in the “Titans” category alongside top global figures including Sundar Pichai, Neal Mohan, and Ralph Lauren.

    This marks his second appearance after his first recognition in 2014.

    Global names on the list

    The 2026 TIME100 list includes world leaders such as US President Donald Trump, Chinese President Xi Jinping, Israeli Prime Minister Benjamin Netanyahu, and Canadian Prime Minister Mark Carney.

    Others recognised include Pope Leo XIV and leading figures in business and technology.

    Elumelu reacts

    Chairman of Heirs Holdings and United Bank for Africa, Tony Elumelu, who wrote Dangote’s profile for TIME, described him as “indefatigable, resilient, and foresighted.”

    According to Elumelu, Dangote’s investments across cement, sugar, and oil demonstrate Africa’s capacity for industrial growth using local resources.

    He pointed to the Dangote Refinery as a major milestone for Nigeria’s economy and Africa’s industrial future.

    “He has inspired a generation of entrepreneurs… and can always be counted on to return a phone call,” Elumelu said.

    “A great man, creating a great legacy,” he added.

    Background

    Dangote’s business empire spans multiple sectors across Africa, making him a central figure in conversations around industrialisation and economic development.

    His continued inclusion on the TIME100 list highlights his global influence and impact on African enterprise.

    How TIME selects its list

    TIME editor-in-chief Sam Jacobs said the selection is based on individuals shaping the world through their actions and ideas.

    “Our selections are led by the stories that are shaping the world each year and the people who write them,” he said.

    He added that the TIME100 continues to expand into key areas such as artificial intelligence, climate, health, and digital innovation.

    What it means

    Dangote’s recognition further places Nigeria on the global map of influential business leaders, while underlining Africa’s growing role in shaping the future of the global economy.