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$19bn petrochemicals plant earn Aliko Dangote, award from Afreximbank

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President of Dangote Group, Aliko Dangote was on Monday night recognized and given the “Founder of the Year 2023” award by the African Export-Import Bank (Afreximbank) at an award ceremony held by the bank in in Accra, Ghana.

 

The award was given to Dangote because of his newly opened $19bn petrochemicals plant, which is now the Africa’s largest refinery.

 

Group Managing Director, Dangote Industries Limited, Olakunle Alake, was in Ghana to receive the award on behalf of Aliko Dangote.

 

A statement issued by the organisers of the award stated that: “The Pan-African Business and Development Awards were designed to celebrate and recognise the excellence of outstanding organisations and individuals within the African business and finance sectors.

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“The evening recognised some leaders in African business, and Aliko Dangote (GCON) won the Afreximbank Founder of the Year in recognition of his extraordinary achievements building one of Africa’s leading industrial groups with a truly pan-African footprint. This comes on the back of the recent official opening of his $19bn petrochemicals plant and Africa’s largest refinery, which received substantial support from Afreximbank.

 

“Two other greats of industry, the Zimbabwean Strive Masiyiwa and the Togolese Koffi Gervais Djondo were also recognised for their outstanding contributions to African business and industry. Masiyiwa is the founder of Liquid Intelligent Technologies, which has the largest network of fibre optic cables on the continent, Cassava Technologies, and Econet, the largest telecoms and mobile payment operator in Zimbabwe. Djondo helped found Ecobank, the leading African group in terms of footprint, as well as regional airline Asky.

 

The statement further revealed that telecoms operator MTN and Egyptian business ElSewedy were also given Special Recognitions awards. MTN was recognised for transforming the Africa telecoms sector and ElSewedy for its role in the Africa infrastructure sector. ElSewedy and Afreximbank have built a strong relationship that has seen its group become a true continental champion and part of a consortium of African banks and private sector companies that are building the multi-billion dollar Julius Nyerere Hydropower Project in Tanzania.

 

Three banks were recognised in the Financial Institutions of the Year category. National Bank of Egypt, First Bank of Nigeria and Coris Bank, an important regional player in West Africa that started off in Burkina Faso, were chosen based on their volume of trade finance facilities they have utilised.

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Reps Summons Finance, Agriculture Ministers, Auditor-General Over Agricultural Funds

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By Yusuf Danjuma Yunusa

The House of Representatives Ad hoc Committee investigating Agricultural Subsidies, Intervention Funds, Aids, and Grants Programmes has summoned the Ministers of Finance and Agriculture and Food Security, as well as the Auditor-General of the Federation, to account for expenditure on agricultural programmes between 2015 and 2025.

The summons was issued during a public hearing held in Abuja on Tuesday, where lawmakers demanded explanations regarding funds released for key agricultural initiatives over the past decade.

The committee directed the officials, or their duly authorized representatives, to appear before it on February 3, warning that failure to comply would result in legislative sanctions in accordance with the powers vested in the National Assembly.

In his ruling, the Chairman of the committee, Rep. Jamo Aminu (APC-Katsina), stated that the investigation aims to ensure transparency and accountability in the use of public funds intended to boost food production, support farmers, and enhance national food security.

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“The interventions under review were designed to strengthen our agricultural sector and ensure food security for all Nigerians. However, persistent concerns over food insecurity, rising food prices, and the effectiveness of past programmes have made this scrutiny imperative,” Rep. Aminu said.

The chairman expressed strong dissatisfaction with the Office of the Auditor-General of the Federation for its failure to provide audit reports on several agricultural subsidy and intervention programmes during the specified period.

He emphasized that comprehensive audit documentation is essential for tracking the disbursement, utilization, and outcomes of the funds.

“We cannot effectively conduct this investigation without proper audit records. These funds span a decade and involve critical national programmes. Transparency and accountability in this process are non-negotiable,” he stated.

Earlier in the hearing, Mr. Mohammed Adamu, a Deputy Director from the Office of the Auditor-General, attributed the lack of completed audit reports to insufficient cooperation from the Ministry of Agriculture and Food Security.

According to Adamu, the Auditor-General’s office has repeatedly requested necessary documents related to agricultural subsidies, grants, aids, and intervention programmes but has not received the required information from the ministry.

“The primary source of these documents is the Ministry of Agriculture. Without their cooperation, finalizing the audit process has been challenging,” he explained.

The hearing continues as part of the House’s ongoing efforts to enhance oversight and ensure that public funds are used effectively for national development.

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Bye Election: Fubara refutes allegations of supporting ADC candidates

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Governor of Rivers State, Sir Siminalayi Fubara has debunked speculations that he is supporting the candidates of the African Democratic Congress (ADC) for the forthcoming bye -election scheduled to hold on February 21, 2026.

The Independent National Electoral Commission (INEC) has slated the bye-election to fill two vacant seats in the Rivers State House of Assembly. In preparation for the said election, the All Progressives Congress (APC) recently conducted its primary, resulting in the emergence of
Napoleon Ukalikpen and Bulabari Henrietta Loolo, for elections into Ahoada East State Constituency II and Khana State Constituency II, respectively.

Since both candidates are known allies of the former Governor of Rivers State, Nyesom Wike, many analysts have been interpreting the situation as a minus for Governor Fubara with some alleging that he (Fubara) was planning to support the candidates of the ADC instead of the APC during the election.

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However, Fubara has dismissed the allegation, describing it as “blatant lies from the pit of hell.”

He said those peddling such falsehood were doing so with the mischievous intention of creating division within the APC in Rivers State.

“The APC in Rivers State is one family. What happened was that in the build up to the primaries, the President (Tinubu) intervened and asked every one to support the candidates of the former Governor and Minister of the FCT( Nyesom Wike) for peace to reign. So if these candidates are members of the APC and we are all members of the same party, how can I be supporting the candidates of another political party? These are blatant lies from the pit of hell,” Fubara said

The governor said that it was unfortunate that political detractors were always busy fanning the embers of division even when there was none.

He assured members of the APC in the state that he will continue to support the party and ensure it’s victory at the polls.

Fubara urged citizens of the state to remain focused on issues of development and not be swayed by baseless claims.

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BREAKING: National grid collapses second time in 2026 

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The national grid collapsed on Tuesday morning, causing the power outages across Nigeria.

Data obtained by TheCable from the Nigerian Independent System Operator N(ISO) showed that load allocation to the 11 electricity distribution companies (DisCos) dropped to zero MW as at 11 am on Tuesday.

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