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    Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

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    FG fines Multichoice N766m over privacy breaches

    FG fines Multichoice N766m over privacy breaches

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    Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

    Food inflation: NSA, 36 states launch joint action

    Food inflation: NSA, 36 states launch joint action

    Petrol imports drop 54% as Dangote boost supply

    Petrol imports drop 54% as Dangote boost supply

    World Bank retains Nigeria’s growth at 3.6%

    World Bank retains Nigeria’s growth at 3.6%

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Petrol: 6 depots slash prices as competition heightens in downstream sector

    Market capitalisation hits N70.89tr as 36 stocks close in green

    Market capitalisation hits N70.89tr as 36 stocks close in green

    Sixteen years after meltdown, NGX market cap surges by 347.5%

    Sixteen years after meltdown, NGX market cap surges by 347.5%

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      Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

      Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

      FG fines Multichoice N766m over privacy breaches

      FG fines Multichoice N766m over privacy breaches

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

      Food inflation: NSA, 36 states launch joint action

      Food inflation: NSA, 36 states launch joint action

      Petrol imports drop 54% as Dangote boost supply

      Petrol imports drop 54% as Dangote boost supply

      World Bank retains Nigeria’s growth at 3.6%

      World Bank retains Nigeria’s growth at 3.6%

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Petrol: 6 depots slash prices as competition heightens in downstream sector

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Market capitalisation hits N70.89tr as 36 stocks close in green

      Sixteen years after meltdown, NGX market cap surges by 347.5%

      Sixteen years after meltdown, NGX market cap surges by 347.5%

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        Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

        Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

        FG fines Multichoice N766m over privacy breaches

        FG fines Multichoice N766m over privacy breaches

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

        Food inflation: NSA, 36 states launch joint action

        Food inflation: NSA, 36 states launch joint action

        Petrol imports drop 54% as Dangote boost supply

        Petrol imports drop 54% as Dangote boost supply

        World Bank retains Nigeria’s growth at 3.6%

        World Bank retains Nigeria’s growth at 3.6%

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Petrol: 6 depots slash prices as competition heightens in downstream sector

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Market capitalisation hits N70.89tr as 36 stocks close in green

        Sixteen years after meltdown, NGX market cap surges by 347.5%

        Sixteen years after meltdown, NGX market cap surges by 347.5%

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          Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

          Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

          FG fines Multichoice N766m over privacy breaches

          FG fines Multichoice N766m over privacy breaches

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

          Food inflation: NSA, 36 states launch joint action

          Food inflation: NSA, 36 states launch joint action

          Petrol imports drop 54% as Dangote boost supply

          Petrol imports drop 54% as Dangote boost supply

          World Bank retains Nigeria’s growth at 3.6%

          World Bank retains Nigeria’s growth at 3.6%

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Petrol: 6 depots slash prices as competition heightens in downstream sector

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Market capitalisation hits N70.89tr as 36 stocks close in green

          Sixteen years after meltdown, NGX market cap surges by 347.5%

          Sixteen years after meltdown, NGX market cap surges by 347.5%

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            Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

            Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

            FG fines Multichoice N766m over privacy breaches

            FG fines Multichoice N766m over privacy breaches

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

            Food inflation: NSA, 36 states launch joint action

            Food inflation: NSA, 36 states launch joint action

            Petrol imports drop 54% as Dangote boost supply

            Petrol imports drop 54% as Dangote boost supply

            World Bank retains Nigeria’s growth at 3.6%

            World Bank retains Nigeria’s growth at 3.6%

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Petrol: 6 depots slash prices as competition heightens in downstream sector

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Market capitalisation hits N70.89tr as 36 stocks close in green

            Sixteen years after meltdown, NGX market cap surges by 347.5%

            Sixteen years after meltdown, NGX market cap surges by 347.5%

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              Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

              Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

              FG fines Multichoice N766m over privacy breaches

              FG fines Multichoice N766m over privacy breaches

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

              Food inflation: NSA, 36 states launch joint action

              Food inflation: NSA, 36 states launch joint action

              Petrol imports drop 54% as Dangote boost supply

              Petrol imports drop 54% as Dangote boost supply

              World Bank retains Nigeria’s growth at 3.6%

              World Bank retains Nigeria’s growth at 3.6%

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Petrol: 6 depots slash prices as competition heightens in downstream sector

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Market capitalisation hits N70.89tr as 36 stocks close in green

              Sixteen years after meltdown, NGX market cap surges by 347.5%

              Sixteen years after meltdown, NGX market cap surges by 347.5%

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                Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                FG fines Multichoice N766m over privacy breaches

                FG fines Multichoice N766m over privacy breaches

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                Food inflation: NSA, 36 states launch joint action

                Food inflation: NSA, 36 states launch joint action

                Petrol imports drop 54% as Dangote boost supply

                Petrol imports drop 54% as Dangote boost supply

                World Bank retains Nigeria’s growth at 3.6%

                World Bank retains Nigeria’s growth at 3.6%

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Petrol: 6 depots slash prices as competition heightens in downstream sector

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Market capitalisation hits N70.89tr as 36 stocks close in green

                Sixteen years after meltdown, NGX market cap surges by 347.5%

                Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  Banking Sector Strengthens as Capital Adequacy Ratio Hits 15.2%, Liquidity 49.06%

                  Amid 27.50% MPR, Economic Challenges, Prime Lending Rate Rise to 18.19%

                  FG fines Multichoice N766m over privacy breaches

                  FG fines Multichoice N766m over privacy breaches

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Despite Economic Downturn, Nigeria’s Non-pension AuM Up 71% to N10.1trn

                  Food inflation: NSA, 36 states launch joint action

                  Food inflation: NSA, 36 states launch joint action

                  Petrol imports drop 54% as Dangote boost supply

                  Petrol imports drop 54% as Dangote boost supply

                  World Bank retains Nigeria’s growth at 3.6%

                  World Bank retains Nigeria’s growth at 3.6%

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Petrol: 6 depots slash prices as competition heightens in downstream sector

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Market capitalisation hits N70.89tr as 36 stocks close in green

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

                  Sixteen years after meltdown, NGX market cap surges by 347.5%

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                  Dangote to Build 18m MTA Cement Plant in Itori, Largest Seaport at Olokola in Ogun State

                  Thisdaylive | March 18, 2025
                  Dangote to Build 18m MTA Cement Plant in Itori, Largest Seaport at Olokola in Ogun State
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                  President of Dangote Group, Alhaji Aliko Dangote, said by the time he was done with his cement plants across Ogun State, the total capacity would be 18 million metric tons per annum, making the state the highest cement-producing state or region in Africa.

                  Dangote, who said the vision and policies of Governor Dapo Abiodun brought him back to the state, also said he would work with the state government to return to Olokola, with plans to construct the largest port in the country.

                  Dangote spoke during a courtesy visit to the governor at his office in Abeokuta.

                  He said Ogun was one of the most attractive investment destinations in Nigeria, but alleged that the former administration of Senator Ibikunle Amosun demolished his factory twice before he decided to leave the state.

                  But in response to the allegation, yesterday, Amosun told Dangote that he was not among the class of people he could compromise, bully, or blackmail.

                  Speaking during the visit, Dangote said, “I would especially like to commend, in a special way, my good friend and brother, Your Excellency, the governor of Ogun State, for your vision and deliberate policies that focus on attracting enterprises through immense support for the private sector, which is now attracting investors.

                  “Our factory at Itori was pulled down twice. When we started the second time, they not only demolished the factory, but also the fence, so we left. But right now, because of His Excellency, our governor, Prince Dapo Abiodun, we are back. When you visit the factory, you will be surprised at what we have done.

                  “We had earlier abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of your policies and investor-friendly environment, I want to say we are back and will work with the state government to return to Olokola, and plans are underway to construct the largest port in the country.”

                  Giving an update on the company’s ongoing projects in the state, Dangote said two new lines with a capacity of six million metric tons of cement per annum had been constructed at Itori, while the 12 million metric tons per annum cement plant was at Ibeshe.

                  Upon completion, Dangoted assured that the total capacity of the company’s cement plants in the state would be in the neighbourhood of 18 million metric tons per annum, making it the highest cement-producing state or region in Africa.

                  “With the contributions of other cement producers in the state, Ogun remains far ahead of other countries across Africa in terms of cement production,” he said.

                  Dangote Cement, according to him, was the leading cement producer in Africa with a capacity of 52 million metric tons per annum across the African continent.

                  He added that 70 per cent of the production was carried out in Nigeria, with the Obajana plant in Kogi State accounting for 16.25 million metric tons per annum, the largest in Africa.

                  He said investment in the manufacturing of the product had made Nigeria self-sufficient in cement, just as the country was now self-sufficient in fertiliser, with the surplus going to the export market, and earning foreign exchange.

                  Dangote stated that the company’s target was to make Nigeria self-sufficient in whatever it consumed.

                  He said his company was currently meeting domestic demand for petrol, aviation fuel, and Liquefied Petroleum Gas (LPG) from its 650,000 barrels per day refinery at Ibeju-Lekki.

                  Dangote said Nigeria was a growing economy, hence the need for private companies to complement government efforts. He assured that his company would continue to demonstrate its belief in the country and its people by making investments targeted at transforming the economy.

                  He appreciated traditional rulers and the people of Itori for their support and partnership, which enabled the smooth and speedy take-off of the cement plant.

                  Dangote added that the encouragement from the people of Yewaland had fostered smooth operations, assuring of continued adherence to its Corporate Social Responsibilities to the host communities.

                  THISDAY learnt yesterday that polypropylene products from the 900,000 metric tonnes per annum Dangote Petrochemical Plant would officially be unveiled in early April 2025.

                  Polypropylene would be the latest from a variety of petroleum products being produced and sold in Nigeria and many parts of the world by the Dangote-owned facility as the company continued to assert its leadership position in the global petroleum refining and supply business.

                  Abiodun described the day Dangote refinery’s ground-breaking was performed in Lagos as “the day of heartbreak for the sons and daughters of Ogun State as they watched helplessly on television”. He said it was an indication that the project had left Olokola.

                  Abiodun stated, “I want to thank you for coming back to Ogun State and also for your belief and trust in your country, Nigeria. I want to thank you for all that you have done, the number of people you have employed, and the impact you continue to make, not just in this state, but in Nigeria as a whole.

                  “The way you selflessly continue to promote this country all over the world, we can’t thank you enough. Your life and story continue to be an inspiring narrative for all young men. You have excelled in everywhere you touch; you have the Midas touch.

                  “These are, indeed, giant strides. For us in Ogun State, we welcome your return to the state. Today is a historic day, March 17, 2025, the same March when you did the ground-breaking in Lagos for the refinery, and you are now coming back in March to Ogun State.

                  “Not only have you chosen to complete Itori, but you have also chosen to come back and develop the biggest port in Nigeria. For this, I thank you.”

                  Amosun: Dangote Can’t Bully, Blackmail Compromise Me

                  Meanwhile, Amosun, yesterday, told the chairman of Dangote Group, Alhaji Aliko Dangote, that he was not and would never be among the class of people he could compromise, bully or blackmail.

                  In a statement from the Senator Ibikunle Amosun Media Office, signed by Lanre Akinwale, Amosun said the assumption that everyone had a price was the basis of Dangote’s attack on him.

                  Dangote had, in a viral footage, accused the Amosun administration of demolishing his Itori Cement Plant on two different occasions, while commending his successor, Dapo Abiodun, for facilitating his return to site.

                  But Amosun, in his response, titled, “Re: Government Demolished My Cement Factory Twice,” said, “While we will not give vent to this obvious mischief, as it is deliberate, we will advise Alhaji Dangote to furnish the public with details of the land acquisition with relevant planning approvals, and let us engage in a constructive conversation therefrom.

                  “However, while we will wait to hear from him, we will like to state that not all Nigerians can be compromised, bullied or blackmailed. The notion that everyone has a price is an expression applicable only to people with weak foundations and questionable upbringing. This is why some of us will continue to uphold high standards in all our undertakings, irrespective of whose ox is gored.”

                  According to him, “We have just seen a footage in which the Chairman of the Dangote Group, Alhaji Aliko Dangote, alleged that his cement factory in Itori, Ogun State, was demolished twice while Senator Ibikunle Amosun served as governor.

                  “We assume that an average person understands how government functions through Ministries, Departments, and Agencies, with each exercising mandates on specific responsibilities, including approvals for physical development.

                  “It is on this basis that we want to appeal to Alhaji Dangote to avail the public of the requisite approvals for the construction of the structures he alleged were demolished. This will, at least, help the public to put the issue in proper context and for us to know what exactly his grouse is.

                  “For us, as a government, we believed that there could not be two governments in a state, and Dangote, therefore, could not operate above the law or under a different set of laws.”

                  Amosun also said, “It is important to note that at the commissioning of his Ibese Cement factory, Dangote praised the Amosun administration to high heavens for its promotion of investments in Ogun State and for facilitating the commencement of the cement factory after eight years of frustration as he then alleged by other administrations.

                  “Dangote is just one of the many going concerns in Ogun State, and the Amosun administration is on record to have attracted over 500 companies to the state and was acknowledged by the World Bank as one of the top three states ensuring Ease-of-Doing-Business in Nigeria.

                  “Highlighted as one of the top reforming states in 2014, which marked a significant improvement from its previous rankings, the World Bank report attributed this progress to substantial reforms across multiple indicators like construction permits and property registration.

                  “It is also on record that during Senator Amosun’s administration, Ogun State became the ‘Industrial Capital’ of Nigeria. Our state at the time accounted for about 75 per cent of the Foreign Direct Investments (FDIs), in relation to industry in the country. This is a fact subject to verification.

                  “This recognition was further given fillip to by former president, Dr. Goodluck Ebele Jonathan, when he visited Ogun State to commission multinational projects on five different occasions.”

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