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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.”

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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Power Shift in Kano: Ganduje Family Bows to Emir Sanusi as Nephew Gets Turbaned

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Ganduje and Emir Sanusi ,Photo Credit BBC Hausa

 

In a dramatic political twist that may redefine Kano’s traditional power matrix, former Governor Abdullahi Umar Ganduje has thrown his weight behind Emir Muhammadu Sanusi II, as the monarch turbaned Ganduje’s nephew, Alhaji Jamilu Sani Umar, as the new Village Head of Ganduje.

This development signals a major shift in political allegiance, coming from a family that once stood at the heart of Emir Sanusi’s 2020 dethronement.

The former village head, Alhaji Sani Ganduje — who was removed from office — had openly challenged the Kano Emirate over the legitimacy of his removal, deepening the rift between the Gandujes and Sanusi’s loyalists.

However, following the recent reinstatement of Emir Sanusi II by Governor Abba Kabir Yusuf, political equations in Kano have shifted rapidly.

In what many see as a move to realign with the prevailing tide, Dr. Ganduje reportedly convened a strategic meeting with his extended family and directed full support for the new appointment.

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Rather than sending a delegate, the entire Ganduje family physically accompanied Jamilu to the Emir’s palace, a powerful public gesture of submission and allegiance to Sanusi’s throne.

Political analysts interpret this as Ganduje’s calculated pivot — recognizing Emir Sanusi’s regained influence and perhaps seeking to reposition himself within Kano’s changing political terrain.

The move also draws a clear contrast with the dethroned Emir Aminu Ado Bayero, who enjoyed close ties with Ganduje during his administration but is now increasingly sidelined.

By endorsing the turbaning and realigning his family under Sanusi’s leadership, Ganduje appears to be reading the political handwriting on the wall — that Emir Sanusi’s return is not just ceremonial, but a restoration of deep-rooted traditional authority with growing political resonance.

As Kano continues to balance tradition and politics, the Ganduje family’s public allegiance to Emir Sanusi may be the clearest indication yet that the old guard is adapting to a new power order.

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We closed hostels over non-compliance with our rules— MAAUN President

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The President of the Maryam Abacha American University of Nigeria Prof. (Dr.) Mohammad Israr has clarified the closure of the Al-Ansar Indabo hostel over non-compliance with the university rules.

It would be recalled that the university has on Monday closed the hostel citing noncompliance and non-adherence to the welfare of students.

In a statement on Tuesday, Professor Israr explained that the university Management found it necessary to take the action due to non-compliance with the university’s rules and regulations governing the operation of private hotels.

“Despite issuing queries to the owners of the affected hostels, they failed to comply with our rules and regulations, we have no option but to take this appropriate action.

“Non-compliance resulted in several unwanted situations and activities within the hostel, including poor water and power supply. These issues pose a serious threat to the well-being of our students.

“We have to protect the reputation that we built for over 13 years, we stand by ethics to ensure good conduct and welfare of our students”.

The hostels are privately owned facilities approved by the institution to accommodate students.

According to Israr, it was part of the university’s effort to ensure safe, secure, and decent hostel accommodations for students while maintaining a zero-tolerance policy for any form of immorality among university students.

The school, which acquired its operational license and commenced academic activities in 2021, allowed private developers to build and apply for the school’s accreditation to house students.

“This is part of the founder’s initiative to contribute more to the economy of the state.

You cannot find these irregularities in our hostels but in the ones owned by the private developers. The closure is in the best interest of the parents and students”. Israr said.

“Accordingly, all affected students are strongly directed to vacate the hostel immediately after the completion of the first-semester examination.

Meanwhile, the management is collaborating with relevant security agencies to ensure total compliance,” the statement said.

It would also be recalled that the university last week ordered the immediate closure of Insktaf hostel as a result of some criminal activities such as torture, physical assault and injury among others, posing a serious security threat to the well-being of students living in the affected hostels.

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FEC endorses life insurance for Tinubu, Shettima, Gbajabiamila, Akume, ministers

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Didi Walson-Jack, head of service of the federation, says the Federal Executive Council has approved the Group Life Assurance Scheme for government workers, paramilitary and uniformed personnel.

Ms Walson-Jack said this while briefing State House correspondents on Monday at the end of the sixth FEC meeting of the year.

She said through the insurance scheme, the federal government would provide a life policy for each public servant and that in the event of death, the public servant’s next-of-kin would benefit from helping the family cushion the effect of the loss.

This scheme underscores the importance that President Bola Tinubu’s administration has placed on the welfare of the federal workers. This year, the group life assurance scheme covers key government officials, comprising Mr President, the vice-president, the chief of staff, and the secretary to the government of the federation.

The other beneficiaries are ministers, the head of the civil service of the federation, permanent secretaries and staff of federal government ministries and treasury-funded agencies,” she stated.

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According to her, the scheme also covers the paramilitary agencies such as the Nigerian Immigration Service, Nigeria Security and Civil Defence Corps, Nigeria Correctional Service, the Federal Fire Service, Federal Road Safety Corps, National Drug Law Enforcement Agency and the Office of the National Security Adviser.

She added that the insurance scheme would be annual, and that the approval given by FEC was for the 2025/2026 policy year, and the policy would commence from the date of premium payment to underwriters in line with the no premium, no cover policy.

“The approval for today was for the appointment of 17 insurance underwriters for the group life insurance cover and for the year 2025/2026, as I had earlier mentioned.

“The premium is paid to the insurance companies for 12 months. So, this policy will expire in 2026,” she disclosed.

(NAN) Peoples gazette

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