By Ambrose Nnaji

Africa’s foremost industrial conglomerate, the Dangote Group, is on track to become the world’s largest producer of fertilizer by 2028, according to its Chairman, Alhaji Aliko Dangote. He made the disclosure at the Imo Economic Summit held in Owerri.

Dangote said the group is accelerating an aggressive expansion strategy that will raise its urea production capacity from 3 million metric tons to 12 million metric tons within four years—placing Nigeria at the forefront of the global fertilizer market.

He emphasised that Africa must now assert its place in global commerce and industrial growth, noting that the continent’s development will only be achieved through bold local investments.

“The time has come for Africans to step into greatness. We will top global fertilizer production by 2028 because we are expanding capacity from 3 million to 12 million tons,” he said.

Dangote urged African investors to prioritise investments within the continent, arguing that foreign capital often follows the confidence demonstrated by local entrepreneurs.

“Only a local investor can convince a foreign investor to invest in his home. There is no place like home,” he said.

He also revealed ongoing efforts to double the group’s domestic investments—including plans to scale up operations to 1.4 million barrels per day in the energy sector—while calling for stronger private-sector interventions in electricity generation.

The summit also featured notable global leaders. Former President of Mauritius, Ameenah Gurib-Fakim, noted that Africa’s youthful population and its 30% share of the world’s mineral resources offer a foundation for long-term economic transformation.

“It is time for Africa to take her destiny in her hands,” she said.

President Bola Tinubu, represented by Vice-President Kashim Shettima, declared the event open. Former United Nations Secretary-General Ban Ki-moon also graced the summit, underscoring its international significance.

By Ambrose Nnaji

FirstPower Electricity Distribution Company Limited has unveiled an ambitious plan to deliver world-class energy services in Anambra State, marking what it describes as the beginning of a new era in power distribution in Nigeria.

The company recently secured an operational licence from the Anambra State Electricity Regulatory Commission (ASERC), effectively transferring distribution responsibilities from the Enugu Electricity Distribution Company (EEDC).

Speaking to journalists in Awka, the Managing Director of FirstPower, Okechukwu Okafor, described the approval as a “landmark event” for both the company and the state. He noted that FirstPower had laid extensive groundwork long before ASERC’s formal inauguration.

“We want all stakeholders to know that it is no longer EEDC. FirstPower, an independent company, is now in charge of power distribution in Anambra,” he said.

Okafor said the company would collaborate closely with ASERC, industrial clusters, business associations, and community groups to improve energy supply, enhance customer confidence, and deepen understanding of electricity services across the state.

He also emphasised a strong commitment to public engagement, transparency and improved communication with residents.

“The perception of the sector as exploitative will change. Our focus is on the customer because the customer is the platform for our success,” he added.

A major priority, he said, is the elimination of estimated billing through an aggressive metering rollout. Okafor noted that inadequate metering has long distorted billing accuracy, fuelled customer dissatisfaction, and increased financial losses for operators.

“Estimated billing comes with variations and often penalises innocent customers. Power theft also makes things worse. Our focus is to get everybody metered, even though it requires huge investment,” he said.

He disclosed that the Federal Government and the World Bank have supported ongoing metering initiatives, and urged the state government and private sector players to join in driving the effort.

According to him, FirstPower pays the Transmission Company of Nigeria (TCN) for all energy supplied but still records significant revenue losses due to unmetered consumption. A mass metering programme, he revealed, will begin next week, with a major second phase scheduled for January 2026.

Okafor expressed confidence that the company’s strategy would reshape power delivery in the South East and set a new benchmark nationally.

“We plan to make a major impact in the power industry, if not across Nigeria, certainly in the South East. By the end of 2027, there will be a significant change in the power landscape,” he said.

By Ambrose Nnaji

Seplat Energy Plc., Nigeria’s leading independent energy company, has secured three significant awards across finance, upstream operations, and sustainability, reinforcing its position as one of Africa’s most admired corporate performers.

At the 30th Anniversary of the PEARL Awards in Lagos, Seplat clinched the Market Excellence Award for the 2025 Highest Net Asset Ratio, a recognition that underscores the company’s strong asset efficiency and profitability on the Nigerian Exchange (NGX). The PEARL Awards—established in 1995 to promote discipline, transparency, and growth within Nigeria’s capital market—apply a rigorous, data-driven process to honour top-performing listed companies.

Explaining the metrics, the organisers stated that the Return on Net Assets (RONA) ratio highlights how efficiently a company converts its assets into earnings. Seplat’s performance in this category reflects sustained operational strength and investor value creation.

The company also won Upstream Deal of the Year at the World Energy Capital Assembly (WECA) Awards in London, a global recognition that celebrates outstanding transactions, financial performance, and innovation in the oil and gas industry. The accolade places Seplat among globally respected deal-makers shaping the future of upstream energy.

Rounding off the honours, Seplat received the Education Intervention of the Year at the SERAS Africa Sustainability Awards in Lagos. The award recognises the company’s contributions to human capital development and its role in driving inclusive, community-focused education initiatives. This year’s SERAS theme—“Sustainability 2.0: Innovating for Impact and Inclusive Growth”—reflects a shift towards more intentional, future-ready actions across the continent.

SERAS Founder Ken Egbas emphasised that African companies must increasingly connect “growth to inclusion, profit to purpose, and ambition to equity,” noting that Seplat and other winners demonstrated exemplary leadership in sustainable development.

Pearl Awards President/CEO Tayo Orekoya highlighted the credibility of the awards’ methodology, adding that each category is determined through verifiable metrics. NGX CEO Jude Chiemeka commended the Awards’ founders for fostering a culture of performance excellence within Nigeria’s capital markets.

Together, the recognitions affirm Seplat’s strong strategic execution, operational resilience, and commitment to innovation and social impact—hallmarks that continue to position the company as an industry leader both locally and globally.