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Dangote Proffers Solutions To Investors, Manufacturers Leaving Nigeria

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The President, Dangote Industries Limited, Aliko Dangote, has identified solutions to sustaining existing local and foreign investments as well as attracting new investors into the country.
Dangote gave the solutions in a keynote speech delivered at the opening of a three-day Nigeria Manufacturers Summit with the theme,” Rethinking Manufacturing in Nigeria”.
The Tide’s source reports that the summit, held at the Banquet Hall, State House, Abuja, was declared open by Vice President Kashim Shettima.
The Africa richest man said, to arrest investors from leaving the country in droves and attract new ones, the Federal Government must initiate deliberate industrial policies that assure investors of support and protection
According to him, such policies are the greatest incentives for all existing investors, manufacturers, both local and foreign.
The industrialist also noted that foreign investors, manufacturers would be attracted only when they see that local investors are also doing well.
According to him, what attracts foreign investment is not when the President or any other government agencies go outside the country to seek for foreign investment.
“ I am recommending that government policies should support, protect existing industries so that others will know that their investments will also be protected.
“ Is there any better incentives than that ? I don’t think so.
“So, I humbly summit that an industrial policy that assures investors of support and protection is the greatest incentives for all investors both local and foreign,” he said.
Dangote also underscored the importance of stable and affordable power, as well accessible financing to sustaining and attracting investors and manufacturers.
He said stable, affordable power and access to finance by manufacturers and investors would guarantee growth, industrialisation and prosperity.
According to him, import dependent economy is equivalent to importing poverty and exporting jobs.
He further said that when government policies become more supportive and protective, investors would be more willing to collaborate and partner with government.
“ This will help in resolving others challenges such as infrastructure deficit, market instability and market economic issues such as inflation and foreign exchange volatility.
“However, ignoring all these facts is what give rise to insecurity, banditry, kidnappings and abject poverty in the land,” he said
On Bank loans to investors, Dangote said that the current 30 per cent interest rates is stifling growth and there is no way anybody can create jobs.
The business magnate, however, expressed the optimism that Nigeria has all it takes to develop and sustain a globally competitive manufacturing sector.
“To do so, we must rethink our industrialisation policy. We must look to leading countries in the West and the East who are actually protecting their domestic industries.
“We must similarly, introduce policies to protect our domestic industries and nurture them into home champions that will create the jobs and prosperity we desperately need.
“ The time to rethink our industrial policy is now,” Dangote said.
He reiterated that manufacturing remains the key driver in the nation’s quest to economic development and self sufficiency.
Dangote added that the strengths of a country’s manufacturing sector determines its capacity to compete in global trade.
Also speaking at the event, a former Minister of Industry, Trade and Investment, Olusegun Aganga, appealed to President Bola Tinubu to declare manufacturing, a national priority sector.

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NDLEA Intercepts 1.63m Tramadol Pills, Arrests 80-Year-Old Suspect

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The National Drug Law Enforcement Agency (NDLEA) has intercepted 1.63 million pills of tramadol concealed in two long trailers heading for Kano as it intensified efforts to dismantle a transnational drug trafficking syndicate operating along the Togo-Benin Republic-Nigeria corridor.

The agency also arrested an 80-year-old suspected drug dealer in Rivers State, a businesswoman linked to cannabis shipments from Canada, a Chadian woman, a couple and other suspects in coordinated operations across Lagos, Edo, Kogi and Rivers states.

The NDLEA’s Director of Media and Advocacy, Femi Babafemi, disclosed this in a statement, yesterday.

According to the statement, the latest intelligence-led operation came barely one week after NDLEA operatives recovered 558,900 pills of tramadol concealed in the false-bottom compartment of a truck that entered Lagos through the Togo-Benin Republic route.

Babafemi said, “Ongoing efforts to dismantle a transnational drug trafficking syndicate smuggling tramadol from Togo, through Benin Republic into Nigeria have yielded another success with the interception of two long trailers used to move One Million Six Hundred and Thirty (1,630,000) pills of tramadol 250mg concealed in fabricated compartments of the trucks across multiple borders into Lagos.”

He added that one of the two trailers was intercepted on July 2 along the Lagos-Ibadan Expressway, where operatives recovered 853,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor.

Babafemi said, “One of the two trucks already heading to Kano was tracked and located on 2nd July 2026 along the Lagos-Ibadan Expressway where NDLEA officers recovered 853,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor of the trailer and arrested the 22-year-old driver Jabir Kabiru.”

He further disclosed that another trailer was intercepted two days later on the same route.

“Two days later, 4th July, NDLEA operatives acting on processed intelligence successfully tracked and recovered the second trailer from the Lagos-Ibadan Expressway while heading to Kano. A total of 777,000 pills of tramadol 250mg concealed in a fabricated compartment beneath the cargo floor of the truck were evacuated and the 22-year-old driver Muhammed Nuhu arrested,” the statement read.

According to Babafemi, investigations established a link between the three intercepted consignments.

He said, “Investigations revealed that all three trucks and consignments intercepted on 21st June, 2nd July and 4th July belong to the same transnational drug trafficking syndicate operating along the Togo-Benin Republic-Nigeria axis.”

The agency also intercepted 4.70 kilograms of Canadian Loud, a synthetic strain of cannabis, at the import shed of the Murtala Muhammed International Airport, Ikeja, Lagos.

Babafemi said, “Two consignments of Canadian Loud, a synthetic strain of cannabis, with a combined weight of 4.70 kilograms have been intercepted at the import shed of the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos. The cargoes, which arrived the Lagos airport from Canada in cartons with ‘Odugwu’ boldly written on them, came aboard British Airways and Ethiopian Airlines flights on 24th June and 3rd July respectively.”

He said two cargo agents, Ali Rotimi Samson and Orimolade Oluwagbenga, were initially arrested in connection with the shipments, while another suspect, Edeh Onyeamachi Stanislus, was apprehended after arriving at a logistics company to take delivery of the consignments.

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FG Alerts Nigerians Of N50,000 Allowance Registration Scam

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The Federal Ministry of Humanitarian Affairs and Poverty Reduction has denied claims that it has commenced registration for a purported ?50,000 National Support Allowance.

The ministry, in a public notice posted on its official X handle, yesterday, described messages, links and websites advertising the alleged programme as fraudulent.

It urged Nigerians to disregard such claims and verify information only through official government channels.

“The Federal Ministry of Humanitarian Affairs and Poverty Reduction has NOT commenced registration for any ?50,000 National Support Allowance,” the ministry said.

It added, “Disregard fraudulent messages, links and websites claiming otherwise. Verify any info only through official govt channels.”

The alert is in response to a circulating scam flyer that falsely claims the program is ongoing under President Bola Tinubu’s directives.

The fake advertisement, which includes text in Hausa and English, directs victims to a suspicious website (kluspz.com) for applications.

The ministry’s warning comes amid heightened concerns over digital fraud targeting vulnerable populations seeking social support.

Similar scams have previously surfaced around programs like N-Power, prompting questions from citizens in replies to the official post.

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Minimum Wage Review: We’re Battle Ready For Major National Struggle -NLC

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The Nigeria Labour Congress (NLC) has expressed its preparedness for a major national struggle for a comprehensive review of the national minimum wage.

NLC President, Comrade Joe Ajaero, hinted at this while making his remarks at the commissioning of the Comrade Godwin Abumisi Pensioners Legacy House and Multipurpose Hall in Abuja.

Ajaero said it is no longer acceptable to discuss the welfare of workers without also discussing the welfare of those who have completed their active years of service.

He advised workers and pensioners to get prepared for the ideological and economic battles that lie ahead.

According to the NLC president, “The Nigeria Union of Pensioners (NUP) is one of the proud affiliates of the Nigeria Labour Congress. Therefore, your struggle is our struggle, and your welfare remains a priority for the organised labour movement.

“We are currently in the preparatory stages for a major national struggle for a comprehensive review of the national minimum wage.

“However, let me state unequivocally that it is no longer acceptable to discuss the welfare of workers without also discussing the welfare of those who have completed their active years of service.

“Accordingly, the Nigeria Labour Congress will not only push for a new national minimum wage but will also demand the establishment of a national minimum pension. It is a historical injustice that men and women who devoted their youth, strength and productive years to the service of this nation should be condemned to live below the poverty line after retirement.”

Ajaero noted that the cost of living has risen astronomically as food, healthcare and transportation have become increasingly unaffordable.

“We cannot continue to allow our senior citizens to survive on pensions that have become poverty wages. Every retiree deserves to live with dignity after decades of faithful service to the nation,” he said.

He urged pensioners across the country to remain united and prepared as the process begins, adding: “This Legacy House should not merely be seen as a physical structure; it should become a centre for mobilisation, strategic engagement and solidarity as we prepare for the struggles ahead.”

The NLC president pointed out that the working class has always understood that “those who exploit workers are united in advancing their interests. We too must remain united in defending our collective interests and ensuring that government fulfils its obligations to both serving workers and retirees.”

He urged pensioners across the country to remain united and prepared as the process begins, adding: “This Legacy House should not merely be seen as a physical structure; it should become a centre for mobilisation, strategic engagement and solidarity as we prepare for the struggles ahead.”

The NLC president pointed out that the working class has always understood that “those who exploit workers are united in advancing their interests. We too must remain united in defending our collective interests and ensuring that government fulfils its obligations to both serving workers and retirees.”

He said the completion of the project should serve as a clarion call to all workers and lovers of the masses.

“We must not only build physical structures but also build a strong movement capable of compelling government to honour its commitments,” he said.

Ajaero further stated: “We will continue to demand the immediate payment of all outstanding pension arrears and the implementation of a pension regime that guarantees every retiree a life of dignity and security.

“Together, we shall continue to fight until every Nigerian worker and pensioner receives the justice, respect and welfare they deserve.”

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