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Dangote Feared Broke; Plans Massive Lay-offs

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There are worrying indications that Nigeria’s richest man, Alhaji Aliko Dangote is facing a financial tempest that has pushed the Forbes-listed billionaire on the brink of bankruptcy as his financial empire suffocates under the weight of crumbling debt and mismanagement.

Forbes magazine reported that Aliko Dangote, whose net worth was estimated at $2.5 billion, is in debt to the tune of over $1.7 billion and facing insolvency as the global financial meltdown hits the Nigerian economy. To weather what appears to be the perfect storm, Huhuonline.com has learnt from close sources that the Dangote group of companies will undertake a massive down-sizing exercise that will involve as many as over 3000 lay-offs.

It was unclear when or where the lay-offs will occur, but a senior employee at the Dangote group told Huhuonline.com that the “right-sizing” exercise will cut across the board of companies which include: Dan sugar, Dan salt, Dan Flour, Benue Cement, Chevron Texaco amongst others. The Nigerian cement king was among dozens of to business executives singled out by Nigeria’s central bank, in its published list of recalcitrant debtors, who have been told to pay up or face arrest and possible assets seizure. The Economic and Financial Crimes Commission (EFCC) is also looking into recovering the loans.

Loans related to Dangote-owned companies so far appear to have amounted to hundreds of millions of dollars and counting as Dangote continues to expand his cement operations with new plants in Nigeria as well as South Africa, Ethiopia, Senegal and Zambia. The Dangote group recently signed two agreements worth $228 million with the Chinese group Sinoma International Engineering.

The first contract involves its subsidiary Dangote Industries Senegal SA and covers construction of a new production plant near Dakar with capacity of 3,000 tonnes per day. The deal is worth $144 million. Under the second contract, for the same amount, Dangote Industries Zambia Ltd will build a similarly sized cement plant in Zambia. Along with the second project, roughly another $324 million will be invested in infrastructure, which will be handled by sub-contractors.

Nigerian Central Bank sources told Huhuonline.com that part of this expansion by the Dangote group has been funded with debt financing from Nigerian banks reportedly to the tune of $1 billion and some of these assets may potentially be in trouble. The Dangote group is also interested in minTing ore: in particular it has positioned itself to obtain coal mining permits in Nigeria, according to sources.

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Easter: DHQ Orders Troop Alert, Confirms US Support

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The Defence Headquarters has placed troops on nationwide alert ahead of the Easter celebrations, assuring Nigerians of tightened security.

The DHQ also reaffirmed that ongoing support from the United States is strengthening counter-terrorism operations, with a visible impact expected in the coming weeks.

Addressing journalists during the end-of-the-month briefing on Tuesday in Abuja, the Director, Defence Media Operations, Maj Gen Michael Onoja, assured citizens of heightened vigilance by troops during the Easter celebrations.

Onoja said the Armed Forces had already placed personnel on alert nationwide to prevent any security breach during the holiday period.

He added that similar measures were implemented during previous festive seasons, including Christmas and Eid-el-Fitr, and would be sustained.

“We know that festive seasons usually have heightened security activities. The military command gives instructions to ensure all personnel are on alert. This time will not be different,” he said.

He emphasised that security agencies would not relax despite the celebrations, noting that adversaries often attempted to exploit such periods.

“I can assure you that we will always be on alert, particularly at this period of festivities, because we know that the threats expect us to relax.

“But we are not going to relax. Everything will be okay for this Easter,” he added.

Speaking on the ongoing collaboration with the US forces, Onoja said the impact of the collaboration may not be immediately visible due to the nature of military engagements, but expressed confidence that the benefits would become evident in the coming weeks and months.

He said the U.S. support to Nigeria’s operations had been significant, particularly in the areas of intelligence sharing and training, noting that the assistance was being provided on favourable terms to strengthen ongoing counter-threat operations.

According to him, “You are aware that they are bringing intelligence and training support to us, which we need. They are giving that to us on very favourable terms. There are lots of things I cannot say because of confidentiality.”

He added that the intelligence being provided included information on the location of threats and hostile elements, stressing that Nigerian troops would act accordingly.

“All we can say is that these things take time. There is a gestation period when we are conducting military operations.

“You will not see it immediately, but in the next few months or weeks, you will feel the difference in the impact of the assistance that the U.S. is providing,” Onoja stated.

On February 16, 2026, DHQ confirmed the arrival of approximately 100 US military personnel and equipment at Bauchi Airfield.

According to the military high command, the personnel, who are not combat troops, were in Nigeria strictly for technical assistance, training, and advisory roles in counter-terrorism efforts.

However, insecurity has continued to surge in several parts of the country since their deployment, raising concerns about the effectiveness of the collaboration.

 

 

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RSG Pledges Support For Youth Initiative …As Youth Dev Advocate Seeks Policies On Transformational Leadership

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The Rivers State Ministry of Youth Development has restated the State Government’s commitment towards supporting initiative that will empower youth socially and economically in the State.

Permanent Secretary, Rivers State Ministry of Youth Development, Mrs Ruhoma Kejeh, stated this during the launching of a book titled: ‘A-Z Nuggets of Goal Setting: Discover Winning Ways To Set And Achieve Goals Like a Pro’, in Port Harcourt.

Kejeh said the State Government was committed towards supporting initiative that will empower youth socially and economically in the state.

The Permanent Secretary, represented by the Head of Department, Youth Education and Counseling, Rivers State Ministry of Youth Development, Mrs. Veronica Oborolor,  described the book as a practical guide that will serve as a source of inspiration for youths.

According to her, the book is not only timely and commendable, but comes at a time when many youths face uncertainty in life.

In his remarks, the author of the book and a youth development advocate in Rivers State, Mr. Ibeleogute Emmanuel Ibodeng, called for policies that will promote transformational leadership in the country.

He said transformational leadership comes when the right policies are in place, and described the book as his contribution to human capacity development in Nigeria. 

“This is my book launch. This will serve as my own contribution to human capacity building in this country,” he said.

Ibodeng added that the book will serve as a coaching template and model for emerging leaders, readers and passionate nation builders to coach themselves into excellence and patriotic citizens.

According to him, reading the book and imbibing its message has the capacity to make one a nation builder as it is tailored towards mind transformation and community development.

“My major target is to see that the leaders who come after this set will have their minds tuned after transformational leadership, and not just the kind of leadership we are used to today,” he said.

Also speaking, the guest speaker, Mrs. Uche Etiaba, said rather than relying on false hope and partisan politics, Nigerian youths should set clear goals and work out ways of achieving them.

Etiaba also described the book as a masterpiece, adding that vision without structure is like a mere dream.

She, however, blamed systemic failure as Nigeria’s major problem, arguing that the nation is experiencing high youth unemployment because the nation’s education system does not align with the job market.

According to her, there must be an alignment across all levels of our national life.

The event attracted people across all works of life.

 

John Bibor

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Police Foil Kidnap Attempt, Recover Rifles In Rivers

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The Rivers State Commissioner of Police, Olugbenga Adepoju, has reaffirmed the commitment of the Nigeria Police Force to safeguarding lives and property, following a major breakthrough in the fight against kidnapping in the State.

Adepoju said this in a statement by the command’s Police Public Relations Officer, CSP Grace Iringe-Koko which was made available to the Press in Port Harcourt, on Tuesday.

The police boss, in the statement, noted that the recent operation underscores the resolve of the command to intensify intelligence-driven policing and dismantle criminal networks operating within the State.

“Operatives of the Rivers State Police Command recorded the success after foiling an attempted abduction in Port Harcourt, leading to the arrest of a suspected gang member and recovery of arms and ammunition”, it said.

The incident, according to the statement, occurred in the early hours of March 20 when a 35-year-old resident, Fadi Nasser, raised the alarm over an invasion of his residence along Orogbum Crescent, Woji Road, in the Government Reserved Area of the state capital.

According to Police sources, the armed assailants attempted to abduct the victim and opened fire during the attack, creating panic in the neighbourhood.

“The victim, however, managed to escape unhurt, an outcome described by security operatives as both fortunate and instrumental in enabling a swift response by the police”, it said.

Investigations gained momentum after a mobile phone suspected to belong to one of the attackers was recovered at the scene, providing a critical lead for operatives.

Acting on the intelligence, officers of the Special Weapons and Tactics (SWAT) unit based in Aluu deployed technical resources to track the device, which led to the arrest of one Joseph Abibo, identified as a member of the gang.

During interrogation, the suspect, the statement revealed, reportedly confessed and provided useful information that guided operatives to the gang’s hideout within the State.

Police sources also disclosed that upon arrival at the location, the operatives came under heavy gunfire from other members of the gang, prompting a fierce exchange.

The Police team, however, overpowered the criminals, forcing several of them to flee, with about six suspects escaping into a nearby river with gunshot wounds.

The police revealed that a search of the hideout led to the recovery of two AK-47 rifles, four magazines and 108 rounds of live ammunition, while efforts are ongoing to apprehend the fleeing suspects and recover more weapons.

 

King Onunwor

 

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