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”.
Eid-el-Fitr: NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
Eid-el-Fitr: NRC sets to run three Lagos–Ibadan train trips Monday. He assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
This was contained in a statement issued on Friday in Lagos by NRC chief public relations officer, Callistus Unyimadu.
He said the additional trip was in response to high passenger turnout during the Eid-el-Fitr travel period.
“The extra trip is aimed at easing passenger movement and providing more travel options for commuters returning after the Eid-el-Fitr celebrations.
“Under the schedule, departures from Lagos (Mobolaji Johnson Station, Ebute Metta) will be at 7.45 a.m., 1.40 p.m., and 4.00 p.m.
“From Ibadan (Obafemi Awolowo Station, Moniya), trains will depart at 8.00 a.m., 10.50 a.m., and 4.30 p.m.,” he said.
Mr Unyimadu assured passengers of NRC’s continued commitment to safe, reliable, and efficient rail services.
NRC Sets To Run Three Lagos–Ibadan Train Trips Monday
He advised travellers to arrive early, comply with ticketing and security procedures, and plan their journeys.
“The corporation appreciates the continued patronage of its services and wishes all passengers a safe and pleasant journey,” he added.
UBA, BII Sign Letter Of Intent To Explore Trade Finance Collaboration Across Africa
United Bank for Africa (UK) Limited (“UBA UK”) and British International Investment plc (“BII”), the UK’s development finance institution and impact investor, announced that they have signed a letter of intent to develop trade finance collaboration opportunities.
The proposed initiative aims to expand access to trade and working capital facilities for businesses operating across Africa.
Access to trade finance remains one of the most significant structural constraints on African trade. Businesses, particularly small and medium-sized enterprises, are frequently unable to secure letters of credit, guarantees, and supply chain finance on commercially viable terms, limiting their capacity to export and import competitively. This trade finance gap is estimated by the African Development Bank to be over USD 80 billion annually.
To help close this gap, UBA UK, the London subsidiary of UBA Group, Africa’s Global Bank, will leverage its deep relationships across the Group’s 20-country African network to originate and structure trade finance transactions. While BII, with a mandate to support productive, sustainable, and inclusive growth across Africa, can support transactions that might otherwise fall outside conventional commercial appetite.
“The signing of this letter with BII represents a landmark moment for UBA UK and for the UBA Group’s global ambitions. As the Group’s hub for Trade Operations, UBA UK is uniquely positioned to connect African businesses with the international financial system. Working alongside BII, we can extend that capability further — mobilising capital where it matters most and helping to close the trade finance gap that holds back so much African potential,” said Lok Mishra, Chief Executive Officer, UBA UK
“British International Investment is committed to catalysing private sector growth across Africa, and trade finance is a critical enabler of that growth. We welcome the opportunity to collaborate with UBA Group, whose pan-African network and deep institutional relationships can help advance our ambition to expand access to trade and working capital finance, particularly in frontier markets,” Chris Chijiuitomi, Managing Director and Head of Africa
The announcement builds on growing momentum around intra-African trade facilitated by the African Continental Free Trade Area (AfCFTA), which entered into force in 2021 and represents one of the world’s most significant trade integration initiatives. Both institutions have identified the operationalisation of AfCFTA as a priority catalyst for a trade finance facility, with UBA UK’s network across major AfCFTA economies offering a basis for supporting businesses navigating the emerging continental market.
This also complements the UK Government’s broader engagement with African economic development, including commitments made at the UK-Africa Investment Summit, and reinforces the City of London’s role as a leading international finance centre for Africa-focused capital mobilisation.
Future cooperation remains subject to further assessment, due diligence and the completion of internal approvals by both parties.
ABOUT UNITED BANK FOR AFRICA (UK) LIMITED
UBA UK is the London-based subsidiary of United Bank for Africa Plc, one of Africa’s leading financial institutions with operations across 20 African countries, the United Kingdom, the United States of America, France, and the United Arab Emirates. UBA UK serves as the Group’s hub for Trade Operations, providing a comprehensive suite of trade finance, treasury, and correspondent banking services to institutional and corporate clients worldwide.
UBA
ABOUT UNITED BANK FOR AFRICA GROUP
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
ABOUT BRITISH INTERNATIONAL INVESTMENT
British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good.
Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development.
The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.
Eid-el-Fitr: President Tinubu Felicitates Muslims, Urges Renewed Unity, Patriotism
Eid-el-Fitr: President Tinubu felicitates Muslims, urges renewed unity, patriotism. Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan.
The president urged them to renew commitment to national unity, peaceful coexistence, and service to humanity as they celebrate the festival across the country on Friday.
This is contained in a statement issued by presidential spokesperson, Bayo Onanuga, on Thursday in Abuja.
Mr Tinubu called on Muslims to reflect on the spiritual lessons of Ramadan, noting that the holy month teaches discipline, sacrifice, compassion, and devotion to God and humanity.
He said: “We have a lot to draw from the noble lessons of Ramadan, especially at a time like this.
“We must continue to abide by the virtues of piety, selflessness, perseverance, kindness and compassion beyond this period.”
The president emphasised the need for Nigerians to remain united across religious and ethnic lines, stressing that national cohesion remains vital for sustainable peace and development.
He urged Muslims to extend acts of kindness and charity to the less privileged, irrespective of religious or ethnic background, in line with the enduring values of Islam.
Mr Tinubu noted that such gestures would strengthen social bonds, promote inclusiveness, and reinforce the spirit of brotherhood that defines the Nigerian society.
The president also called on religious leaders to use the occasion to offer prayers for peace, stability, and economic prosperity across the country.
Tinubu
He expressed optimism that with collective efforts, Nigeria would overcome its challenges and achieve lasting progress for the benefit of all citizens.
Mr Tinubu wished Muslims a joyous celebration, praying that the blessings of Ramadan would bring renewed hope, strength, and guidance to individuals, families, and the nation.
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