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Halima Dangote: Family-Owned Businesses driving global economic success

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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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BREAKING: Governor Yusuf Appoints Umar Farouk Ibrahim as Kano New SSG

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Kano State Governor, Abba Kabir Yusuf, has appointed Umar Farouk Ibrahim as the new Secretary to the State Government (SSG).

The appointment was announced in a statement issued by the governor’s spokesperson, Sunusi Bature Dawakin Tofa, on Saturday.

Ibrahim’s appointment takes effect from Monday, February 10, 2025.

According to the statement, Ibrahim was selected based on his extensive experience and expertise, which are expected to play a vital role in advancing the administration’s development agenda and keeping the state on track with its goals.

Umar Farouk Ibrahim brings over three decades of distinguished public service to his new role.

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His career in the civil service, spanning from 1987 to 2023, has been marked by key leadership positions that significantly contributed to the governance and administrative structure of Kano State.

From March 2001 to May 2015, Ibrahim served as the Permanent Secretary for Research, Evaluation, and Political Affairs in the Office of the Secretary to the State Government.

In this capacity, he was instrumental in analyzing key policy options, advising the government on viable alternatives, and overseeing the implementation of these policies across various Ministries, Departments, and Agencies (MDAs).

Following this, from June 2015 to March 2016, Ibrahim held the position of Permanent Secretary for the Administration and General Services Directorate.

His tenure in this role showcased his strong leadership and administrative skills. Notably, he served as acting Secretary to the State Government during annual leaves in 2013 and 2014, underscoring the trust and confidence placed in him by the state leadership.

In addition to his formal roles, Ibrahim served as Secretary for several high-profile committees, including the Coordinating Committee on Independent Power (2012-2015), the Committee on the Identification and Sale of Government Property (GP Houses) in 2012, and the State Payroll Standing Committee (2000-2004).

His early career also saw him play pivotal roles in community and educational reforms, such as his position as Secretary of the Inter-Community/Religious Consultative Forum in 1998 and the Committee on the Review of the Operations of the Agency for Mass Education in 1994.

Mr. Ibrahim obtained a B.Sc. in Political Science from the prestigious Ahmadu Bello University in 1985, followed by several professional certificates that further enriched his qualifications.

As a seasoned administrator and retired Permanent Secretary, Umar Farouk Ibrahim is expected to bring a wealth of knowledge, strategic insight, and a commitment to excellence in his new role as SSG.

His appointment is seen as a strategic move to strengthen the administrative framework of the current government and facilitate the effective execution of its policies and programs.

Governor Yusuf expressed confidence that Ibrahim’s appointment would significantly contribute to realizing his administration’s vision for Kano State, emphasizing the importance of experienced leadership in steering the state toward sustained development and growth.

 

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Hakimi: Labour Party Will Capture Northern Nigeria Under Abure’s Leadership

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The Director of Peter Obi Coalition 2023 (CPO), Sadisu Isyaku Hakimi, has expressed strong confidence in the leadership of Julius Abure, the National Chairman of the Labour Party (LP).

In an interview with newsmen in Kano, Hakimi stated that if Abure’s footsteps are followed, the Labour Party has the potential to capture Northern Nigeria and ultimately the entire nation.

Praising Abure’s tenure as the best, Hakimi emphasized that the National Chairman’s focus on the interests of Northern Nigeria would lead to significant gains for the party. “Julius Abure’s tenure is the best. He has to look at the interests of Northern Nigeria, and the party will make it,” Hakimi remarked.

Hakimi further criticized the All Progressives Congress (APC), stating that the party is failing to protect the interests of the masses. “APC is not protecting the interest of the masses, and as such, the APC is going to lose the election,” he asserted.

Hakimi’s comments highlight the growing confidence within the Labour Party’s leadership and supporters. He believes that under Abure’s guidance, the party can address the needs and aspirations of the Northern Nigerian populace, leading to broader national support.

The interview has sparked discussions among political analysts and the public, with many watching closely to see how the Labour Party’s strategies unfold in the upcoming elections.

 

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Military Needs 500,000 Personnel To Defeat Insurgency-Retired General

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A former Provost Marshall of the Nigerian Army, Maj-Gen Pat Akem-Vingir (rtd), says the military needs at least 500,000 personnel to eliminate terror groups like Boko Haram and the Islamic State West Africa Province (ISWAP).

“Our army is small. We need to have an army of at least 500,000 personnel,” the retired general said on the Friday edition of Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television

The Nigerian military has about 230,000 personnel, according to the ranking platform, Global Fire Power. Maj-Gen Akem-Vingir said much of the successes of the military in the theatre of war in Nigeria’s North-East zone have been lost because of the lack of manpower to hold the ground after clearance operations.

He said until there is sufficient manpower to secure territories after terrorist dislodgement, the blood-thirsty marauders would continue to regain those places.

He said, “When you are fighting insurgency, you must capture ground and hold it. It takes troops to do that. When you capture ground, then you build and hold so that people can resume their lives and there will be security but if you are clearing areas and you are not holding, then they (terrorists) will come back.”

The retired general also said the government should not recognise the newly formed terror group Lakurawa wreaking havoc in the North-West geopolitical zone of the country.

Maj-Gen Akem-Vingir described the Lakurawa group as “one small tiny group” seeking attention.

He said, “We shouldn’t recognise them, we shouldn’t even discuss them because they will think they are being noticed now and want to do more.

“They are one small tiny group that shouldn’t even get out attention; that should be swatted away – that shouldn’t be given any energy to feed upon. They are seeking attention.”

He urged the government to empower the military with the right equipment, training, and the “full authority” to crush the enemies of the state.

The former army provost said, “The president needs to give the instruction to security agencies in the open where Nigerians will hear it.

“When he does that openly, and tell them I want to see your needs on my table in two weeks because, without security, you can’t be talking about governance.”

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