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Dangote Refinery Deploys CNG Trucks to Begin Direct Fuel Supply Across Nigeria

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Dangote Refinery Deploys CNG Trucks to Begin Direct Fuel Supply Across Nigeria

The Dangote Petroleum Refinery has commenced a new phase in its operations with the deployment of its recently acquired fleet of Compressed Natural Gas (CNG) trucks.

Dangote Refinery Deploys CNG Trucks to Begin Direct Fuel Supply Across Nigeria

On Monday, the trucks officially began loading petroleum products at the refinery’s facility in Ibeju-Lekki, Lagos, for direct distribution to filling stations across the country.

According to company officials, the move is part of efforts to strengthen domestic fuel supply, reduce reliance on intermediaries, and lower the cost of transportation in line with Nigeria’s energy transition goals. The use of CNG-powered vehicles is also expected to cut down on emissions and provide a more sustainable model for fuel distribution.

Industry experts have welcomed the development, describing it as a significant step toward ensuring stable nationwide access to refined petroleum products. With the refinery now channeling supplies directly to filling stations, the burden of scarcity and inflated costs caused by middlemen is expected to ease.

The introduction of CNG trucks also aligns with the federal government’s push for cleaner energy alternatives, as Nigeria seeks to gradually reduce its dependence on diesel-powered transportation in the downstream sector.

The Dangote Refinery, Africa’s largest integrated refining complex, has been central to Nigeria’s energy reforms since it commenced operations, and Monday’s rollout of CNG trucks marks another milestone in its drive to transform the nation’s oil and gas industry.

 

African Descendants in Brazil Could Generate $250 Billion Cultural Market for Nigeria Through Orisa Pilgrimage

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African Descendants in Brazil Could Generate $250 Billion Cultural Market for Nigeria Through Orisa Pilgrimage

Nigeria has been presented with a rare opportunity to transform its cultural heritage into a multi-billion-dollar industry by tapping into the spiritual and ancestral connections of Afro-Brazilians of Yoruba descent.

According to Hon. Otunba Biodun Ajiboye, Executive Secretary and CEO of the National Institute for Cultural Orientation (NICO), structured Yoruba cultural and spiritual pilgrimages could attract millions of descendants of the Yoruba people in Brazil and other parts of the Americas, creating a cultural tourism market worth up to $250 billion for Nigeria.

The Yoruba Legacy in Brazil

The Yoruba, known in Brazil as the nagôs, were among the millions transported across the Atlantic during the slave trade. Despite the tragedy of their displacement, their cultural traditions have endured, shaping the heart of Afro-Brazilian identity, particularly in the northeastern state of Bahia.

Today, Brazil, with its population of about 213 million, is home to an estimated 90 million people of Yoruba descent. For many, Yoruba culture remains a proud marker of identity, with significant numbers practicing Orisa worship. For these communities, Nigeria represents the sacred homeland—carrying the same spiritual weight as Mecca for Muslims and Israel for Christians.

Pilgrimage as a Global Economic Model

Ajiboye explained that Nigeria could learn from countries such as Saudi Arabia and Israel, where religious pilgrimages have become billion-dollar sectors, powering tourism, hospitality, and cultural preservation.

“If properly structured, pilgrimages from Brazilian Yoruba Orisa worshippers alone could generate up to $250 billion for Nigeria,” Ajiboye said. “With an investment of about $2 billion in infrastructure—covering heritage sites, cultural festivals, and tourism facilities—this vision can be realized.”

Pathways for Development

The proposal centers on creating vibrant Yoruba cultural experiences across Ibadan, Ogun, and Osun States, where festivals, sacred groves, and heritage monuments can be showcased to international pilgrims. Such a program would not only provide spiritual fulfillment but also expand Nigeria’s tourism earnings, generate employment, and promote global cultural diplomacy.

Ajiboye further stressed that this projection does not account for Yoruba adherents outside Brazil, including communities in Cuba, Argentina, Trinidad and Tobago, and across South America and the Caribbean. This broader diaspora, he said, represents an even larger cultural market waiting to be tapped.

A Cultural Goldmine

Industry experts believe that with the right policies, Nigeria could position itself as the global spiritual home of the Yoruba, attracting millions of cultural tourists annually. This would not only boost foreign exchange but also strengthen Nigeria’s image as a custodian of African heritage.

“The world already celebrates Yoruba culture through music, dance, and festivals,” Ajiboye noted. “What remains is for Nigeria to provide the infrastructure, organization, and vision to make cultural pilgrimage a global attraction.”

Niger Bans Cement Exports, Cuts Prices to Boost Local Supply

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Niger Bans Cement Exports, Cuts Prices to Boost Local Supply

The Government of Niger has introduced sweeping measures to stabilize the domestic cement market, including an export ban and a significant price reduction aimed at making the commodity more affordable for local consumers.

Under a decree first issued in October 2024, the price of cement has been slashed by more than 35 percent. As of the latest adjustment, a 50kg bag of cement now sells for 2,750 CFA francs, while a tonne is fixed at 55,000 CFA francs. In Niamey, regional variations place the cost of a tonne between 51,000 and 55,000 CFA francs, while in other regions it ranges up to 59,000 CFA francs.

The government also announced a ban on the export of CEM II 32.5 cement, explaining that the measure was necessary to guarantee sufficient supply for the domestic market. Authorities said additional production plants are being installed to increase capacity and meet growing demand.

Officials praised the reforms as part of broader efforts to ease inflationary pressures on households and support the construction sector. The measures have also been welcomed by consumers, who had previously faced high prices driven by supply bottlenecks and export pressures.

General Abdourahamane Tiani, Head of State, has been credited with spearheading the initiative as part of his administration’s push to prioritize local needs and strengthen Niger’s self-sufficiency in strategic industries.

Analysts say the move could stabilize the country’s construction industry in the short term, though its long-term impact will depend on whether domestic production can keep pace with rising demand.

 

Meet Issad Rebrab: Algeria’s Leading Entrepreneur and Africa’s Business Champion

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Meet Issad Rebrab: Algeria’s Leading Entrepreneur and Africa’s Business Champion

Algeria’s foremost private-sector entrepreneur, Issad Rebrab, stands as a symbol of African enterprise and global ambition. Through his flagship conglomerate, the Cevital Group, Rebrab has built one of the continent’s most successful privately owned companies, employing 18,000 people directly and generating an annual turnover exceeding 2,200 billion CFA francs.

Cevital: Algeria’s Largest Private Employer

Founded by Rebrab, Cevital has grown into Algeria’s number one private employer, spanning 26 subsidiaries across three continents. The group’s influence cuts across strategic sectors including agribusiness, automotive, mining, real estate, hydrocarbons, and transportation.

With operations extending beyond North Africa, Cevital has positioned itself as a global player while retaining its roots in Algeria’s economy. Its impact is seen not only in job creation but also in its role in diversifying Algeria’s industrial base and boosting the country’s export potential.

A Visionary for African Business

Rebrab’s journey from modest beginnings to leading one of Africa’s largest conglomerates highlights the transformative role of entrepreneurship in driving economic growth. Industry observers regard him as one of the champions making Africa proud on the global stage, demonstrating that African businesses can compete internationally across diverse sectors.

A Call for More Builders of Africa’s Future

At a time when the continent is seeking stronger private-sector leadership to complement public development efforts, Issad Rebrab serves as an example of what strategic investment, innovation, and determination can achieve.

“Africa needs more of the businessman Rebrab,” one economic analyst noted, stressing that his model of growth-through-diversification provides a roadmap for the next generation of African entrepreneurs.

📸 Cevital Group

 

NiMet Forecasts Thunderstorms and Rainfall Across Nigeria from Monday to Wednesday

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NiMet Forecasts Thunderstorms and Rainfall Across Nigeria from Monday to Wednesday

The Nigerian Meteorological Agency (NiMet) has issued a fresh weather outlook, warning of thunderstorms and rainfall across several parts of the country between Monday and Wednesday.

In its statement released on Sunday, the agency projected that northern states such as Sokoto, Kano, Katsina, Kaduna, and Maiduguri would experience morning thunderstorms, with further rainfall and lightning likely later in the day.

NiMet added that central states including Abuja, Jos, Minna, and Makurdi would come under heavy cloud cover, with intermittent showers and thunderstorms expected during the forecast period.

In the southern region, widespread rainfall is anticipated across Lagos, Port Harcourt, Calabar, Owerri, Benin City, and other coastal areas, particularly in the afternoon and evening.

The agency cautioned that the combination of sustained rainfall and thunderstorms could heighten the risk of flooding in low-lying and riverine communities. Motorists were advised to exercise caution on slippery roads, while air travelers were warned of possible delays due to weather disruptions. Farmers and other stakeholders in the agricultural sector were also urged to factor the forecast into their planning.

NiMet reaffirmed its commitment to providing reliable and timely weather information to safeguard lives and property, urging members of the public to continue to monitor its daily updates.

Regional Weather Briefing (Monday – Wednesday)

Northern Region

  • Morning thunderstorms in Sokoto, Kano, Katsina, Kaduna, and Maiduguri.
  • Rainfall expected to persist into afternoon and evening.
  • Strong winds and lightning possible in some areas.

Central Region

  • Cloudy skies with intermittent showers in Abuja, Jos, Minna, and Makurdi.
  • Thunderstorms likely in afternoon and evening hours.
  • Potential disruptions to flights and road traffic.

Southern Region

  • Widespread rainfall forecast in Lagos, Port Harcourt, Calabar, Owerri, Benin City, and other coastal states.
  • Thunderstorms expected mostly in the afternoon and evening.
  • Increased risk of flash floods in low-lying and riverine areas.

General Advisory

  • Residents in flood-prone zones should take precautionary measures.
  • Motorists advised to drive carefully on wet and slippery roads.
  • Air travelers should prepare for possible weather-related delays.
  • Farmers encouraged to consider rainfall patterns in their activities.

 

Wema Bank’s Bull Run: Can Momentum Defy Gravity?

Funmilayo
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Wema Bank’s Bull Run: Can Momentum Defy Gravity?

Wema Bank Plc has emerged as one of the standout performers in Nigeria’s financial markets in recent weeks, with its stock sustaining a bullish run that has caught the attention of investors and market analysts.

The bank’s share price has recorded significant gains on the Nigerian Exchange (NGX), driven by strong investor sentiment, improved earnings performance, and optimism about its growth strategy. Market watchers note that the rally has placed Wema among the top gainers in the banking sector, even as questions persist on whether the current momentum can be sustained in the medium term.

Industry reports show that Wema Bank has continued to leverage its digital banking platform, ALAT, to expand its customer base, boost transaction volumes, and strengthen its position in the retail banking space. Analysts suggest that this digital-first approach, coupled with operational efficiency, has fueled investor confidence and contributed to the surge in its market valuation.

However, concerns remain over broader market realities. Rising inflation, exchange rate volatility, and tighter monetary policies could weigh on banking sector performance in the months ahead. Some analysts caution that Wema’s rapid upward trajectory may face resistance if macroeconomic pressures persist, noting that the Nigerian stock market has a history of sharp corrections following prolonged rallies.

Despite these concerns, Wema Bank continues to project resilience. Its half-year financial statements revealed steady growth in profit after tax, alongside improvements in non-interest income and loan portfolio expansion. The bank has also made strides in strengthening its capital adequacy and risk management frameworks, further reassuring investors.

Market experts argue that while the current bull run reflects genuine optimism around Wema’s fundamentals, sustaining momentum will depend on the bank’s ability to navigate regulatory headwinds, deepen digital penetration, and maintain profitability in a challenging economic climate.

As trading resumes this week, investors will be closely watching Wema Bank’s stock performance to determine whether the rally can hold or whether market forces will trigger a correction. For now, the bank remains firmly in the spotlight as one of the most closely tracked equities on the NGX.

Resident Doctors Suspend Warning Strike After Federal Government Assurances

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Resident Doctors Suspend Warning Strike After Federal Government Assurances

The Nigerian Association of Resident Doctors (NARD) has announced the suspension of its five-day nationwide warning strike, effective Sunday, September 14, 2025, after receiving assurances from the Federal Government that their key demands would be addressed.

The association confirmed that the Federal Government had committed to clearing the 2025 Medical Residency Training Fund (MRTF) arrears, a major issue that triggered the strike action. NARD leadership noted that the decision to suspend the industrial action followed a series of engagements with government representatives, who pledged to expedite the payment process.

In its statement, NARD emphasized that while the Federal Government had shown willingness to resolve the immediate concerns, vigilance would be maintained to ensure that promises are translated into action. The association warned that any failure to fulfill commitments could trigger a fresh round of strikes.

Beyond the federal-level demands, NARD issued a strong warning to the Oyo State Government over unresolved welfare matters affecting doctors at the Ladoke Akintola University of Technology (LAUTECH) Teaching Hospital. The association expressed dissatisfaction with the state government’s handling of the situation and cautioned that an indefinite solidarity strike could be declared if urgent steps were not taken.

“The plight of our members at LAUTECH Teaching Hospital remains unacceptable. Unless the Oyo State Government addresses these welfare concerns without delay, NARD will have no choice but to escalate its action,” the statement read.

The suspension of the strike has brought temporary relief to patients and healthcare facilities nationwide, where services had been disrupted over the past week. However, both the medical community and the public remain watchful, as the resolution of long-standing disputes between doctors and government authorities continues to shape the stability of Nigeria’s healthcare sector.

Cocoa Prices Surge Amid Weather Concerns in West Africa

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Cocoa Prices Surge Amid Weather Concerns in West Africa

Global cocoa prices have surged sharply over the past week, rebounding from a year-low as adverse weather conditions in West Africa renewed fears of supply shortages.

Data from the New York Exchange showed that cocoa, which had slumped to a 52-week low last week, recovered to settle at $7,420 per metric ton. The rebound reflects renewed investor confidence, with traders pricing in the potential impact of unpredictable rainfall patterns and pest outbreaks in major producing countries such as Ivory Coast, Ghana, and Nigeria.

Analysts noted that weather conditions in West Africa remain the single largest driver of global cocoa prices, as the region accounts for more than 70 percent of global output. Concerns that excessive rains could disrupt harvesting and transportation have added pressure to the supply outlook, while rising demand from chocolate manufacturers continues to support upward price momentum.

The latest rally comes less than a year after cocoa futures hit an all-time high of $12,646 per ton in December 2024. Since then, the commodity has seen significant volatility, swinging between record peaks and multi-year lows.

Traders warn that the fragile balance between supply and demand in the cocoa industry will likely sustain price instability. “Any disruption in West Africa immediately reflects on the international market. With climate patterns becoming increasingly erratic, price swings are almost inevitable,” one commodity analyst explained.

Industry stakeholders are now closely monitoring weather reports and harvest projections in Ivory Coast and Ghana. Further deterioration in conditions could drive prices higher in the coming weeks, leaving confectionery companies and processors bracing for tighter margins if volatility persists.

⸻

📊 Cocoa Market Snapshot

•Current Price: $7,420/ton (New York Exchange)

•52-Week Low: $7,420/ton (Sept. 2025)

•Record High: $12,646/ton (Dec. 2024)

•Year-to-Date Trend: Volatile, marked by sharp swings

•Key Drivers: Erratic rainfall, pest outbreaks, strong global demand

Shea Nut Prices Plunge 30% After Export Ban, CPPE Warns of Threat to Livelihoods and Investor Confidence

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Shea Nut Prices Plunge 30% After Export Ban, CPPE Warns of Threat to Livelihoods and Investor Confidence

The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the sharp decline in shea nut prices following the recent export ban, warning that the policy is endangering rural livelihoods and undermining investor confidence in Nigeria’s agricultural sector.

According to the CPPE, prices of shea nuts have dropped by as much as 30 percent since the restriction was introduced, leaving farmers and traders grappling with unsold stock and dwindling incomes. The group noted that shea nut production, a vital economic activity across parts of northern Nigeria, supports thousands of smallholder farmers, women’s cooperatives, and local processors.

“The ban has created significant market distortions. Farmers are unable to access international buyers, and local demand is not strong enough to absorb the supply. This has triggered a price crash that threatens the survival of many rural households,” the CPPE explained in a statement issued on Sunday.

The organisation also cautioned that the policy could erode investor confidence in Nigeria’s non-oil export sector at a time when the government is seeking to diversify the economy. “Export restrictions discourage long-term investment in value chains. They send the wrong signal to both local and foreign investors who are critical to the growth of agribusiness,” it added.

Shea nuts, valued globally for their use in cosmetics, pharmaceuticals, and food production, represent one of Nigeria’s key non-oil exports. Industry experts fear that if the current ban persists, producers may be forced out of business, while regional competitors such as Ghana and Burkina Faso could gain market share at Nigeria’s expense.

The CPPE urged the Federal Government to reconsider the export prohibition and adopt policies that encourage local processing while still allowing access to international markets. It stressed that a balanced approach was necessary to protect farmers’ livelihoods, promote value addition, and sustain Nigeria’s competitive position in the global shea industry.

 

New Wave of Indigenous Retailers Challenges Shoprite’s Dominance in Nigeria

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New Wave of Indigenous Retailers Challenges Shoprite’s Dominance in Nigeria

Nigeria’s retail landscape is undergoing a quiet but significant transformation as homegrown supermarket chains such as Jendor, Justrite, Bokku, and others expand their footprint, steadily taking over market share once dominated by South African giant Shoprite.

For over a decade, Shoprite stood as the face of modern retail shopping in Nigeria, with large outlets in major cities serving as hubs for groceries, household items, and lifestyle products. However, the company’s 2021 exit from direct operations in the country, citing harsh business conditions, created space for a new generation of local competitors.

Chains like Justrite—with branches across Lagos, Ogun, and Oyo—have positioned themselves as family-friendly, affordable alternatives, combining the supermarket model with an understanding of local consumer behavior. Similarly, Jendor, headquartered in Eastern Nigeria, has built loyalty with regional expansion strategies and strong emphasis on indigenous supply chains. Bokku, meanwhile, has emerged as a rising force, particularly in Northern Nigeria, offering a mix of groceries, clothing, and household essentials tailored to community needs.

Industry analysts note that these indigenous marts have succeeded by offering competitive pricing, locally sourced products, and a more flexible business model that adapts quickly to Nigeria’s economic realities, including fluctuating exchange rates and inflationary pressures that often cripple foreign-owned brands.

“Local supermarket chains have the advantage of knowing the market intimately,” said a Lagos-based retail consultant. “They are not burdened by foreign exchange volatility to the same degree as international players, since much of their supply is domestic. They also understand the cultural nuances of Nigerian shopping habits.”

Beyond groceries, some of these indigenous retailers are experimenting with in-store bakeries, eateries, and entertainment corners, transforming their outlets into community hubs rather than just shopping points.

The rise of these brands signals a broader trend of economic localization, as Nigerians increasingly embrace homegrown solutions to fill gaps left by international companies struggling with Nigeria’s challenging business environment.

For Shoprite, which now operates under Nigerian ownership through Persianas Retail, the challenge will be whether it can reinvent itself to withstand the momentum of these fast-growing competitors.

If current trajectories continue, Nigeria’s once South Africa-dominated retail space may soon become a proudly Nigerian-driven industry, reflecting the resilience and adaptability of local businesses in Africa’s largest consumer market.

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