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Dangote Cement trucks wrongfully intercepted in Adamawa

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…We don’t need to export to Cameroun where we have an existing cement plant

The management of Dangote Cement Plc has stated that two of its trucks that were wrongly intercepted in Adamawa State have been released.

The company stated the two trucks loaded with 900 bags of cement each from the Obajana Cement Plant were on their way to Jamtari, Maiha Local Government, Adamawa State, based on a customer’s request.

However, they were intercepted by security agents who accused them of trying to export banned products to the Republic of Cameroun through the Adamawa routes. The interception, on Friday, February 9, 2024, followed an executive order banning the transportation of food and building materials across the country’s border through Adamawa routes by the Adamawa State Government.

A statement signed by the Group’s Chief Branding and Communication Officer, Mr. Anthony Chiejina, revealed that the company has a functional cement plant in Cameroun and that, the allegation of attempting to export cement there is false and malicious.

Chiejina explained that the two trucks were on their way to deliver products requested by a customer and wondered why the security agents would intercept and accuse them of attempting to divert their load to the Republic of Cameroun.

Mr. Chiejina said: “It was surprising that on their way to deliver the products to the stated address, the security agents on that particular route intercepted them at a village called Wurolabi.”

He said the officers who made the arrest insisted the trucks were on diversion since they apparently did not pay attention to details of what was written on the Waybill. The company said the two drivers tried to explain to the soldiers but to no avail.

He added: Our officials were thereafter invited by the DSS Adamawa State, and we explained to them the true position of things.  We had to show them the tracking movement of the trucks from the DCP Obajana to the last point where they were arrested by the soldiers, to convince them that the trucks were not crossing to the republic of Cameroon as was being wrongfully insinuated by some media.

In the same vein, the Government of Adamawa State, in a press briefing with the Adamawa State Police Headquarters, also on Friday 16th Feb confirmed that both trucks were intended to deliver within the state and were escorted by police to deliver the products to the customer.

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Naira continues to depreciate against dollar at official market

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The naira continued to depreciate against the dollar at the official foreign exchange market on Wednesday.

According to the Central Bank of Nigeria’s data, the naira weakened slightly to N 1,531 per dollar on Wednesday from N 1,529.22 exchanged on Tuesday.

This means that the naira dropped by N1.78 against the dollar on a day-to-day basis, the highest depreciation this week.

Meanwhile, at the black market, it remained unchanged at N1,550 per dollar on Wednesday, the same rate exchanged on Tuesday.

This comes as CardinalStone’s mid-year outlook predicted that Nigeria’s external reserves are expected to rise to $41 billion by year-end.

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Fuel price cut: Dangote Refinery petrol distribution will reduce Nigeria’s inflation – Rewane

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The Chief Executive Officer of Financial Derivatives Company, Bismarck Rewane, said that Dangote Refinery’s petrol distribution initiative, billed to kick off on August 15, 2025, would help in curbing Nigeria’s headline inflation, which stood at 22.97 percent as of May.

Rewane made this known in a statement on Monday, citing an FDC report published in the Lagos Business School (LBS) Executive Breakfast Presentation for July 2025.

According to Rewane, Dangote Refinery’s plan to spend over N1.7 trillion annually on logistics costs to distribute fuel is a game changer in the country’s oil and gas downstream sector.

He noted that Dangote Refinery’s move to use compressed natural gas trucks to distribute fuel and automotive gas oil nationwide to the doorsteps of end-users will lower prices and curb inflation.

“The initiative is set to revolutionise Nigeria’s oil downstream business by cutting logistics costs and by spending over N1.7 trillion annually,” it stated, emphasising that Dangote Refinery’s fuel distribution strategy, which involves deploying 4,000 compressed natural gas (CNG) trucks nationwide, will lower pump prices, curb inflation, and support over 42 million MSMEs (micro, small, and medium enterprises).

“With 4,000 CNG-powered trucks delivering refined products directly to the doorsteps of end-users, the move will lower pump prices, curb inflation, and support over 42 million MSMEs.”

Ekwutosblog reports that Dangote Refinery announced a plan to commence direct petrol and diesel distribution to end-users.

However, petroleum products marketers and retailers have kicked against the move, noting it would lead to massive job losses.

Ekwutosblog reports that fuel prices dropped in the last six days following the drop in global crude oil prices and the ex-depot price slash to N840 per litre from N880 by Dangote Refinery.

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Nigerian govt agencies to unlock $25bn revenue through electricity, digital development

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Two Nigerian government agencies, the Galaxy Backbone and the Rural Electrification Agency, have signed a partnership to provide electricity and digital connectivity to schools, hospitals, and other public institutions across the country.

This comes as the federal government agencies said the initiative is expected to help unlock $25 billion in revenue annually associated with the lack of electricity and other infrastructural development in Nigeria.

This was made known during a Memorandum of Understanding signing event in Abuja on Friday.

Speaking on the partnership, the Managing Director of GBB, Prof. Ibrahim Adeyanyu, said it would ensure effectiveness in government services to Nigerians.

He explained that the collaboration will ensure that hospitals, universities, security outfits, and government institutions have access to electricity and digital connectivity.

“We are going to target public institutions to make them more efficient and reduce the cost of governance.

“Already, we are looking at starting with a number of federal institutions within Abuja, including the National Hospital and some security outfit institutions within Abuja, and we would like to work this infrastructure deployment to get out of Galaxy Backbone, Abuja.

“Imagine providing access to the internet and electricity to the lowest micro-level of the sub-national, the local government level. Imagine how we would transform local government administration. And this is very much also in line with Mr. President, where the roles and responsibilities of local government have been brought back to make them more effective and to make sure that governance has gone down to the community level,” he stated.

On his part, the Managing Director of REA, Abba Abubakar Aliyu, said the MoU is an effort by President Bola Ahmed to drive inclusive development in Nigeria.

He emphasised that the initiative would unlock $25 billion annually associated with lack of electricity and infrastructural development in the country.

According to him, the partnership will ensure that no community is left behind in Tinubu’s government’s renewed hope agenda and the realisation of its $1 trillion economy target.

“For us, today (Friday), we are showing and demonstrating how two different government agencies can collaborate towards the development of this country. Today, we are showing we are planting the seed to unlock a $25 billion economy. The cost of lack of electricity and associated development initiatives within the country is costing the country $25 billion annually.

“Today, we are looking at contributing to the objective of Mr. President towards the realisation of the $1 trillion economy. Today, we are planting the seed for the development of small, medium, and micro enterprises across the country. Today, we are enhancing the governance of this country by making public institutions more efficient, operating with less cost, and also having all the necessary digital requirements for them to carry out their own functions.

“The nexus between electricity, financial inclusion, and the digital economy cannot be overemphasised. We have seen it over and over in the study that wherever there is no electricity, there is no financial inclusion, and there is no digital value that has been created within those communities. Nigeria has the highest number of people without electricity, which by extension means that the country has the highest number of people that are financially excluded, and they are not reaping the benefit of the digital economy,” he stated.

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