Economy
Dangote Sets To Begin Coal Exports, Projects $7m Daily Revenue From Fertilise Sale
Dangote Sets To Begin Coal Exports, Projects $7m Daily Revenue From Fertilise Sale
Dangote sets to begin coal exports, projects $7m daily revenue from fertiliser sale. Abubakar Dantsoho, managing director/CEO of the Nigerian Ports Authority (NPA), (3rd Left); Aliko Dangote, president and GCEO of the Dangote Group, (3rd Right) another stakeholders on May 26, 2025, when the leadership of the Dangote Group visited the NPA headquarters in Marina, Lagos.
Aliko Dangote, president of the Dangote Industries Limited (DIL), says the company will soon start exporting coal out of Nigeria.
Speaking on Monday during a courtesy call to the Nigerian Ports Authority (NPA) headquarters in Lagos, Dangote said DIL is also targeting a $7 million daily revenue from the sale of fertiliser in the next two years.
The billionaire said the company will soon “massively expand” its export operations.
“For some of you who have been to our Cement factory in Itori, we’re already exporting cement out of Nigeria. We have a whole factory of six million tons for cement export,” he said.
“In the next couple of weeks, we will start exporting coal out of Nigeria. Our fertiliser export will be almost like eight cargoes. The refinery operations will not export less than 25 million tons of various products.
“We will also be exporting about 600,000 to 700,000 metric tons of polypropylene. So when you are talking about export, we are going to be very big.”
Dangote said the DIL plans to export about 16,000 tons of fertiliser within the next two years.
“When you talk about 16,000 tons of fertiliser, it’s actually about $6.5 million to $7 million revenue that will be coming into the country on a daily basis,” the philanthropist said.
“With our export programme, our company will be the major supplier of foreign exchange earnings in Nigeria.
“So the operations of Nigerian ports will definitely double in the next one or two years.” Dangote thanked the NPA for “doing a great job” and said the DIL is the authority’s “biggest or largest customer.”
“I think this kind of interaction between us and them is very important for the growth of the industry. So, we discussed quite a lot of issues,” he said.
“We also discussed issues of how to deepen the Marine and Blue Economy of the nation. And we have agreed to actually work together for the benefit of Nigeria.”
Dangote said the size of his group’s operations in Lekki alone will be “almost 240 ships of crude, with each ship carrying one million crude each”, adding that products “will amount to over 600 ships in a year”.
Dangote said DIL’s fertiliser operations will also involve loading nearly eight ships.
“This is an operation that has never, ever been seen in the country. So, it’s a major challenge. But with the leadership of the NPA, we are very comfortable that they will deliver,” he said.
“Our operations will sink if NPA doesn’t give us the services we will be needing.
“So, the NPA will need a lot of support from the federal government because they won’t be able to do these things with their own physical hands. They need equipment. They need more tug boats.”
“We will also be putting in a few words in necessary quarters to make sure that NPA gets all the necessary assistance from the federal government”.
‘DANGOTE VISITED NPA HEADQUARTERS TO LAUD NAIRA-FOR-CRUDE POLICY’
In his remark, Abubakar Dantsoho, NPA’s managing director and chief executive officer (CEO), said Africa’s richest person visited the authority to show appreciation for the dividends of the naira-for-crude policy.
“He’s here to appreciate that the initiative has contributed immensely to achieving a lot of efficiency in the area of the transactions and operations between Nigerian government agencies,” Dantsoho said.
“This is something that started on the 1st of October last year 2024, and so far, we have treated or operated over 57 vessels every month. The projected volume that Dangote was looking at per annum was 600 vessels.
“If you do 56, 57 vessels into 12 months, you will see that we are already doing bigger than what they projected. We will continue to do our best with support from the government.”

Dangote
Dantsoho said if all government agencies work collaboratively and align their efforts, efficiencies will be realised in other sectors of the economy.
“We’re happy that the government has approved the national single window. We’re also happy that as of today, we are 95 percent ready for the Port community system,” he added.
On development of new ports, he said capacity improvement or the expansion port capacity can be done “on a brownfield, which is, you renovate or rehabilitate existing ports; or on a greenfield, which is building new ports”.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
-
Crime9 months agoKogi Assembly Considers Law To Regulate Rent, Establish Control Board: Tenancy Law
-
News10 months agoAtiku Reveals Why He Failed To Pick Wike As Running Mate In 2023
-
Crime12 months agoFederal High Court Jails 2 For Vandalizing Transformer, Telecom Mast In Kogi
-
Akwa Ibom1 year agoThe Apostolic Church Gets New Territorial Chairman, Exco
-
News12 months agoThe Apostolic Church Gets New National President, Executive
-
Akwa Ibom1 year agoUmo Eno Commences Payment Of 80,000 Naira Minimum Wage With Arrears
-
News11 months agoSenator Natasha Returns To Senate With Husband Amid Seat Dispute
-
Economy9 months agoKiyosaki: Is Tinubu’s Government Afraid Of Ibrahim Traore?
