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Halima Dangote: Family-Owned Businesses driving global economic success

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1 year ago

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Family-owned businesses (FOBs) can continue to drive economic success, create value for shareholders, and positively impact their communities worldwide by staying true to their core values and adopting strategic practices that prioritise long-term growth, efficiency, and resilience. This was part of the submission made by Halima Aliko-Dangote, Group Executive Director of Dangote Industries Limited, during the Forbes Global CEO Conference in Bangkok, Thailand.

Halima, who is also the Executive Director, Family Office, spoke at the panel session on Family Business: Looking at the Next Frontier, opined that family-owned businesses have demonstrated exceptional resilience, navigating challenges and thriving over multiple decades.  Other speakers include Carolyn Choo, Managing Director and CEO of Worldwide Hotels; Rose Damen, Managing Director of Damen Yachting, third-generation family shareholder of Damen Shipyards Group; and Caroline Link, Co-Chairman of B.GRIMM Pharma, President of B. Grimm Joint Venture, and Board Member of B. Grimm Power.

She stated that  success in family-owned businesses starts with shared values, goals, governance policies and alignment adding that reputation is part of Family Capital. According to her, governance structure, adherence to core values, customer satisfaction, optimization of shareholder value, meritocracy, integrity, leadership, brand equity, diversification/growth, philanthropy and preserving generational wealth play key roles to the success of our businesses.

She opined that Dangote Group’s governance policies do not allow board and management to operate in silos as each business unit have at least three independent directors that will give a holistic view.

Speaking on other factors of success for Dangote Group, Halima emphasized, “We family-owned businesses have to stick to our tradition of asset rich-cash moderate or as my father will correct me, asset rich-cash poor. We as Dangote perpetuate a profitable business with strong values and strong governance structure. We make money while building our nation by contributing heavily to the global economy, creating massive jobs, thinking of our great grand kids and contributing  excessively to humanity.”

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Highlighting the significant contribution of FOBs to the global economy, Halima noted that studies by Mckinsey showed  that they account for more than 70% of global GDP, generate annual turnovers of between $60 trillion and $70 trillion, and provide around 60% of global employment. She stressed the crucial role these businesses play in creating jobs, sustaining communities, and driving development in sectors such as manufacturing, education, healthcare, and infrastructure across the world.

“Family-owned businesses (FOBs) have proven to be resilient, weathering challenges and thriving across multiple decades. Despite facing external pressures, many FOBs not only survive but also grow, contributing significantly to the global economy in ways that are often underestimated or overlooked,” she said.

She also pointed out that family-owned businesses often employ two key approaches in preparing the next generation for leadership roles: internal and external capacity building. Regarding internal capacity building, Halima explained that many families create internship programmes for young family members interested in taking over the business or assuming leadership positions.

In Nigeria, we  train the next generation so they can grow organically  to  leadership roles in family businesses. My dad’s approach is for you to start from ground up knowing you will get to leadership role if you work hard and do your job right. These experiences  make it easier for you to learn the ropes and be prepared for leadership role in the future,” she said.

On external capacity building, Halima discussed the practice of sending younger generations to work in non-family businesses. This approach enables them to acquire new skills, learn better processes, and gain diverse perspectives that can benefit the family business in the long run adding that she started her career as an Analyst at KPMG before joining Dangote Industries Limited.

The approach she explained “removes the familiarity tag as the young generation got employed as other people and supervised to monitor their performance. This has been a common avenue business families have chosen to pursue for many years, having their next generation spend three to five years working outside the family business before eventually joining with a new set of skills and business knowledge.”

Addressing the challenges of succession planning, Halima emphasised the importance of involving the younger generation in the business early on. She suggested that this creates a space for open communication, where the next generation can share their thoughts, ideas, and aspirations, while the senior generation provides critical information to help the next leaders make informed decisions.

She stressed the need for a balance between tradition and innovation in family-owned businesses. While tradition provides continuity and stability, she noted that innovation is vital to staying relevant and competitive in the modern marketplace.

“Successful family businesses recognise the need to adapt to changing consumer preferences, technological advancements, and market trends. Family businesses often have a wealth of experience and deep-rooted traditions. They can also benefit from external expertise and fresh perspectives,” she concluded.

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Petrol Price Surge to Deepen Cost-of-Living Crisis as Dangote Refinery Hikes Rates Again

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33 minutes ago

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March 9, 2026

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By Yusuf Danjuma Yunusa

The financial burden on Nigerian consumers is set to intensify following a sharp increase in petrol prices by the Dangote Petroleum Refinery, marking the third adjustment in less than a week.

Effective Monday, the refinery raised the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre. This represents a significant jump of ₦180, or approximately 18.1%, from the ₦995 per litre price announced just last Friday. In a parallel move, the gantry price of Automotive Gas Oil (diesel) was also revised upward to ₦1,620 per litre.

Confirming the development to our correspondent, a senior official at the refinery, who spoke on condition of anonymity due to restrictions on public commentary, stated that the changes have been formally communicated to marketers and depot operators.

“Yes, the gantry prices have been adjusted. PMS is now ₦1,175 per litre while Automotive Gas Oil is ₦1,620 per litre,” the official said. “The market has been extremely volatile, and replacement costs have shifted significantly in recent days. These adjustments reflect prevailing market fundamentals and the cost environment we are currently operating in.”

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Data from the industry pricing platform, petroleumprice.ng, confirmed that the revised rates have been integrated into depot pricing systems nationwide, effectively resetting the benchmark for downstream marketers.

This latest surge—which has seen gantry prices climb from ₦774 to over ₦1,175 in a matter of days—is already translating to higher costs at the pump. Retail outlets in several states are now selling petrol for approximately ₦1,200 per litre, adding another layer of economic strain on households and businesses.

The increase is expected to trigger a fresh wave of price adjustments across the country. Higher fuel costs invariably lead to increased expenses for transportation, logistics, and production, costs that are typically passed on to consumers. This dynamic threatens to exacerbate Nigeria’s already high cost of living.

The price hikes underscore the challenges facing the Federal Government’s efforts to stabilize the downstream sector. Through the Nigerian National Petroleum Company (NNPC) Limited, the government has been working to secure crude oil supply for the Dangote refinery via third-party international traders in a bid to sustain local refining and, ultimately, moderate prices.

However, officials caution that these interventions may not yield immediate relief for consumers. As the 650,000-barrel-per-day Lekki-based refinery adjusts its prices in response to volatile market realities, Nigerians are left grappling with the immediate consequences of a deregulated market where pump prices are increasingly subject to global and local market forces.

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ADVERT:KANO STATE PRIMARY HEALTH CARE MANAGEMENT BOARD IMMUNIZATION PLUS AND MALARIA PROGRESS BY ACCELERATING COVERAGE AND TRANSFORMING SERVICES (IMPACT PROJECT)

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46 minutes ago

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March 9, 2026

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KANO STATE PRIMARY HEALTH CARE MANAGEMENT BOARD
IMMUNIZATION PLUS AND MALARIA PROGRESS BY ACCELERATING COVERAGE AND TRANSFORMING SERVICES (IMPACT PROJECT)

CREDIT NO. IDA-65390

Request for Bids – Goods

Procurement of 44 Nos. Ultrasound Scan Machines for 44 Secondary Facilities in Kano State.

NG-KANO MPA-536529-GO-RFB

Date of Issue: March 9, 2026

1. The Kano State Government through the Government of the Federal Republic of Nigeria has received a credit from the International Development Association toward the cost of the Immunization Plus and Malaria Progress by Accelerating Coverage and Transforming Services (IMPACT), Project and intends to apply part of the proceeds of this credit to payments under the Contract for the Procurement of 44 Nos. Ultrasound Scan Machines for 44 Secondary Facilities in Kano State.

2. The Kano State Immunization Plus and Malaria Progress by Accelerating Coverage and Transforming Services (IMPACT), Project now invites sealed bids from eligible and qualified bidders for the Procurement of the following:

Item No.
Description / Identification of Items
Qty
Bid Security
Delivery Period
Location(s)

 

Procurement of 44 Nos. Ultrasound Scan Machines for 44 Secondary Facilities in Kano State.

NG-KANO MPA-536529-GO-RFB
44
₦19,700,000.00
90 days
Immunization Plus and Malaria Progress by Accelerating Coverage and Transforming Services (IMPACT), Project, State PIU Office, Na’ibawa Zaria Road, Opposite Gidan Fiat, Kano State

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Bidding Procedures
3. Bidding will be conducted through National Competitive Bidding using Request for Bids (RfB) as specified in the World Bank’s “Procurement Regulations for IPF Borrowers” Procurement in Investment Projects Financing” November 2020 (“Procurement Regulations”) available on www.worldbank.org/procure and is open to all Bidders as defined in the Procurement Regulations. In addition, please refers to paragraphs 3.14 to 3.17 in the “Procurement Regulation” on the conflict of interest.

Invitation
4. Interested and eligible bidders may obtain further information from the State Project Manager, Kano State IMPACT Project, and inspect/obtain the bidding documents at the address below, between 9.00 am to 4.00 pm Mondays to Fridays, except on public holidays.

5. Qualifications requirements include:

The Bidder should demonstrate that it has successfully completed the supply/installation of a minimum of 30 (Thirty) Ultrasound Scan Machine within the last 5 (five) years.”
Audited financial statements for the last three (3) years, to demonstrate the financial capability of the Bidder in terms of Profitability and adequate working capital,
Registration with Professional organizations/Licenses to sell Medical Equipment in Nigeria.
Company Registration,
Certified Manufacturers Authorization,
Evidence of after-sales services in Nigeria

A margin of preference for eligible national contractors shall not apply; Additional details are provided in the Bidding Documents.

6. A complete set of Bidding Documents in English may be purchased by interested bidders on the submission of a written Application to the address below and upon payment of a non-refundable fee of ₦ 100,000.00 (One Hundred Thousand Naira only). The payment method will be a Bank Draft in favour of the Kano State IMPACT Project. The Bidding Documents will be collected by the representative of the Bidder or by courier services on request, which shall be at the bidder’s cost.

7. Bids must be delivered to the address below at 11:00 am local time on Wednesday, April 15, 2026. Electronic bid submissions will not be accepted; Late bids will be rejected. Bids will be opened in the presence of the bidders’ representatives, who choose to attend in person at the address below 11:00 am local time on Wednesday, April 15, 2026. All bids must be accompanied by a Bid Security of ₦19,700,000.00 in local currency or an equivalent amount in a freely convertible currency.

8. The address referred to above is:

The State Project Manager,
State Project Implementation Unit (SPIU),
Kano State Immunization Plus and Malaria Progress by Accelerating Coverage and Transforming Services (IMPACT), Project,
Address: Na’ibawa Zaria Road, Opposite Gidan Fiat, P.M.B 3295, Kano State.
Telephone: +234 803 530 7255 / +234 806 558 1226
Email address: piukanoimpactproject@gmail.com

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Legal Setback for Turaki Faction as Appeal Court Affirms High Court’s Ruling on Ibadan Convention

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1 hour ago

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March 9, 2026

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By Yusuf Danjuma Yunusa

The Court of Appeal in Abuja has dismissed an appeal filed by a faction of the Peoples Democratic Party (PDP) led by Kabiru Turaki, SAN, thereby upholding the jurisdiction of the Federal High Court to intervene in matters concerning the party’s planned national convention.

Delivering judgment in a set of nine consolidated appeals, a three-man panel of the appellate court unanimously affirmed the earlier decision of the lower court. The Federal High Court had previously barred the Independent National Electoral Commission (INEC) from recognising or validating any convention organised by the Turaki-led faction.

The legal battle stemmed from a dispute over the party’s scheduled national convention, initially planned for November 14 and 15, 2025, in Ibadan, Oyo State. The Turaki faction had challenged a lower court order that restrained the party from proceeding with the event.

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In its ruling on Thursday, the Appeal Court rejected the appellants’ contention that the matter constituted an internal affair of the party and was therefore outside the jurisdiction of the Federal High Court. The panel held that the Federal High Court was fully competent to hear the suit.

Delivering the lead judgment, the court stated that the appellants could not “repackage a clear violation of the party constitution and that of the Constitution of the Federal Republic of Nigeria as an internal party affair.” It emphasised that the issues raised extended beyond internal party politics and touched on statutory and constitutional violations.

Consequently, the court dismissed the appeals for lacking in merit and awarded a cost of N2 million against the appellants, to be paid to the respondents.

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