News
Dangote Feared Broke; Plans Massive Lay-offs
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.
News
CAN President Tasks Christians On Unity
Against the backdrop of rising economic challenges and global uncertainties, the President of the Christian Association of Nigeria (CAN), Archbishop Daniel Okoh, has called for calm, unity, and responsible leadership as Christians across the country mark Palm Sunday, yesterday.
In a statement released yesterday, Okoh reflected on the significance of Palm Sunday, saying that it is a moment that symbolises peace, humility, and hope, even in times of tension and uncertainty.
He further explained that Jesus entered Jerusalem with calm resolve, not as a display of force, but with a message of peace and purpose.
The CAN President noted, “The message of the Christian observance is particularly relevant as many Nigerians grapple with economic hardship, including rising cost of living, increasing fuel prices, and escalating food costs.”
He attributed part of the economic pressure to global developments, especially geopolitical tensions involving Iran, Israel, and the United States that are already impacting energy markets and, by extension, everyday life in Nigeria.
He stressed that across the country, families are feeling the weight of these times, with transport costs rising, food prices climbing, and daily life becoming more difficult.
He stated that Nigerians are primarily concerned with survival and stability, appealing to leaders at all levels to be mindful of the tone and impact of their words and actions.
According to him, when life feels uncertain, people need reassurance, they need stability and the confidence that those in authority understand their struggles. He stressed that the lessons of Palm Sunday should guide leadership, as true leadership is defined not by force or rhetoric, but by empathy, restraint, and a commitment to the common good.
He stressed that it is a time for decisions that ease burdens, calm anxieties, and bring people together, and called on the Church and Nigerians of all faiths to embrace their responsibility in promoting peace and unity.
He said Palm Sunday serves as a reminder of a time when people from diverse backgrounds came together in shared hope and purpose, pointing out that the same spirit is needed now to stand for peace, strengthen unity, and support one another, especially in a season that could easily tilt towards tension.
Okoh encouraged young Nigerians and those most affected by the current economic realities not to lose hope, acknowledging that while the challenges are real, they are not insurmountable.
News
Acting Provost Dismisses Alleged Missing Equipment Claims At Rivers Health College
The Acting Provost of the Rivers State College of Health Science and Management Technology, Dr. (Mrs.) Peace Chigozirim Amadi has refuted claims circulating in the media suggesting that laboratory equipment went missing from the college.
In a recent statement, Dr. Amadi described the reports—particularly those attributed to certain publications—as false and misleading. She emphasized that all laboratory equipment at the college remain intact.
“I am here to set the record straight. No laboratory equipment disappeared from my college. Nothing is missing,” Dr. Amadi said, challenging anyone with contrary claims to provide evidence, including the names of the equipment and their supposed locations.
She further noted that the college recently underwent an accreditation exercise, during which significant investments were made in laboratory equipment. According to Dr. Amadi, these items are fully accounted for, and the college maintains a robust security system to protect its assets.
“Everything is intact. Nothing disappeared. The information being circulated is false and should be discarded,” she reiterated.
Beyond addressing the allegations, Dr. Amadi also called on media practitioners to exercise professionalism and verify stories before publication. “I want to plead with journalists to always verify their stories. Junk journalism does not help anyone. No matter the information you receive, it is important to hear the other side before publishing,” she said.
While social media posts have occasionally raised concerns about various issues in the region’s health education sector, including extortion and examination malpractice at related institutions, there is no independent evidence from credible news sources confirming that equipment went missing from Rivers State College of Health Science and Management Technology.
The college, a public tertiary institution based in Port Harcourt, Rivers State, is accredited to offer a variety of health-related programs, including Nursing, Midwifery, Laboratory Technology, and Environmental Health. It has consistently emphasised integrity, safety, and transparency in its operations.
Dr. Amadi’s statement seeks to reassure the public, students, and stakeholders that the college remains secure, well-managed, and free from the alleged equipment losses, while urging journalists to prioritise accuracy in reporting.
News
Hausa Leader Lauds Fubara For Sustaining Peace, Security In Rivers
The Chairman of the Arewa Traditional Council of Chiefs in Rivers State, Alhaji Hussaini Isa Madaki, has commended Governor Siminalayi Fubara of Rivers State for his efforts in sustaining peace and security of lives and property across the state.
Madaki, who is also the Sarkin Hausawa in Rivers State, described the governor as a leader who has embraced the Hausa community as part of the larger family in the state.
Speaking with journalists at his office in Port Harcourt during the 2026 Eid al-Fitr celebration, Madaki noted that Governor Fubara has demonstrated fairness and inclusiveness by not segregating any ethnic group, particularly the Hausa community.
He added that the governor’s peaceful disposition has positioned Rivers State as one of the most accommodating and peaceful states in the country.
Madaki further assured that the Hausa community would continue to give maximum support to the Fubara-led administration until the end of its tenure.
He also urged members of the community to remain peaceful and law-abiding as they go about their lawful activities.
On community development, Madaki disclosed that district and ward heads have been appointed and crowned across Hausa settlements in the State to ensure proper coordination and profiling of residents. According to him, the initiative is aimed at strengthening security, enhancing identification, and improving crisis management at the grassroots level.
He explained that the move became necessary due to recurring security concerns, including disturbances allegedly caused by some scavengers and cart pushers.
Madaki called on the newly appointed leaders to promote inclusiveness, harmony, and peaceful coexistence in the discharge of their responsibilities.
Those appointed include Alhaji Abubakar as Port Harcourt City District Head; Alhaji Buba Usman (Eleme axis); Malam Adamu (Eagle Island); Alhaji Tanlasuki (Gborokiri Yam Zone); Abdullahi (Rumukwurushi); Adamu Suleiman (Aboloma); and Useni Umaru (D-Line).
He appealed to Governor Fubara to formally recognise the efforts of the Hausa leadership structure in the State and extend further support in the spirit of inclusivity and unity.
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