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Forex: Dangote repatriates $687,977m from pan-African operations

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Aliko-Dangote

Nasiru Yusuf Ibrahim

 

Management of Dangote Industries Limited (DIL), have revealed that the company has so far repatriated over USD576,008,672.41 through various banks in Nigeria, in addition to a USD$111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines; thus saving the same amount that would have been paid by the Central Bank of Nigeria (CBN).

KANO FOCUS reports that the company revealed this in a statement released to the media, where it accused BUA Group of sponsoring fake and misleading news about its foreign exchange transactions, approved by the CBN, which were meant for its pan-African operations.

Dangote re-affirmed its determination and belief in Nigeria, noting that the present Government, of President Bola Ahmed Tinubu, has shown the will and resolve to get the economy moving again.

“We are not body-shop investors. We believe in Nigeria, and we believe in Africa. We are genuine and authentic about our investments, and we call on all relevant agencies to investigate our FX transactions in the past ten years and make public any infraction noticed or discovered.”

Insisting that all forex purchased in respect of its African Project Expansion were genuine and fully utilised for what they were meant for, Dangote revealed that the projects for which the forex was utilised are visible for everyone to see.

“It is on record that some of these projects were commissioned by Nigerian top-ranking government officials and in attendance were Chief Executives of various banks, Captains of Industries, and the Presidents of the host countries supported by their Senior Government Officials.

“The commissioning events of these projects were well documented and covered by both local and international media. There are also print and electronic copies of the commissioning ceremonies as further testimony to the judicious utilisation of the funds.”

Dangote further explained that its massive investments in Pan Africa will lead to the repatriation of forex in the very near future and boost foreign exchange earnings in Nigeria, as well as stabilise the forex Market.

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Dangote Refinery maintains ex-depot price of PMS

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Nasiru Yusuf Ibrahim

Dangote Petroleum Refinery and Petrochemicals Limited has announced that its ex-depot price of Premium Motor Spirit (PMS) remains unchanged, reaffirming its commitment to stability in Nigeria’s domestic energy market.

 

In a statement issued by Esan Sunday, Head of Media Relations, Branding and Communication, the company said sustaining the current price reflects its efforts to cushion the broader economy against external shocks. It noted that by absorbing prevailing cost pressures, the refinery is helping to moderate inflationary risks, promote energy affordability, and ensure uninterrupted fuel supply amid ongoing global uncertainties.

 

The company reiterated its dedication to the steady supply of high-quality petroleum products to the Nigerian market, while aligning with national objectives of price stability and energy security.

 

It also urged the public to rely solely on official communications from the refinery for accurate and up-to-date information regarding its operations and pricing.

 

 

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Tinubu congratulates Garo on appointment as Kano deputy governor

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Nasiru Yusuf Ibrahim

 

President Bola Ahmed Tinubu has congratulated Alhaji Murtala Sule Garo on his emergence as the Deputy Governor of Kano State following his swearing-in on Tuesday.

 

KANO FOCUS reports that Garo was sworn in by Governor Abba Kabir Yusuf after being nominated to fill the vacancy created by the resignation of former deputy governor, Comrade Aminu Abdulsalam.

 

In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described Garo’s appointment as a positive step toward strengthening unity within the All Progressives Congress (APC) in Kano State.

 

The President noted that the 48-year-old politician has held several public offices, including Chairman of Kabo Local Government Area and Commissioner for Local Government and Chieftaincy Affairs during the administration of former governor Abdullahi Umar Ganduje. He also served as the APC governorship running mate in the 2023 general elections.

 

Tinubu commended Governor Yusuf for the appointment, urging political stakeholders in the state to rally behind the administration to ensure stability and progress.

 

He also called on the new deputy governor to work closely with the governor in delivering effective leadership and accelerating development in Kano State.

 

The President wished Garo success in his new role.

 

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Ganduje acknowledges Sanusi II as Emir of Kano, 6 years after dethroning him

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Ibrahim Khalil

 

A dramatic political moment unfolded in Kano on Tuesday as former governor Abdullahi Umar Ganduje publicly acknowledged Muhammad Sanusi II as the Emir of Kano and Chairman of the Kano State Council of Emirs.

 

KANO FOCUS reports that the unexpected gesture occurred during the swearing-in ceremony of the newly appointed Deputy Governor, Murtala Sule Garo, at Government House, Kano—an event attended by top political leaders and traditional rulers.

 

While delivering his goodwill message, Ganduje addressed Sanusi by his full royal title, drawing immediate attention from dignitaries at the ceremony. The audience responded with loud applause when he greeted the Emir and recognised his position as head of the Kano Emirate Council.

 

The development is particularly significant given the long-standing rift between the two figures. Sanusi was removed from the throne during Ganduje’s administration, a decision that sparked widespread political and legal controversy at the time.

 

However, the political landscape shifted following the emergence of Governor Abba Kabir Yusuf, under whose administration Sanusi was reinstated as Emir of Kano.

 

Observers say Ganduje’s public acknowledgment signals a possible easing of tensions and may point to broader efforts at reconciliation within Kano’s political and traditional institutions.

 

The moment has since been described by analysts as a “twist of fate” in Kano politics, where former rivalries appear to be giving way to cautious gestures of respect among key actors.

 

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