Zulum Seeks NPA Partnership to Boost Borno Non-Oil Exports, Create Jobs

By Tada Jutha, Maiduguri

Borno State Governor Babagana Umara Zulum has intensified efforts to diversify the state’s economy by calling on the management of the Nigerian Ports Authority (NPA) to expand support for non-oil exports from the state in order to boost foreign exchange earnings and create employment opportunities for young people.

The governor made the appeal during a high-level meeting with the management of the Nigerian Ports Authority in Lagos on Tuesday, where discussions were centred on unlocking economic opportunities and strengthening value chains for local producers and exporters in Borno State.

Zulum explained that increasing non-oil exports would not only improve internally generated revenue but also open up broader opportunities for businesses, farmers and entrepreneurs across the state.

Since assuming office in 2019, the governor’s administration has consistently pursued policies aimed at diversifying Borno’s economy while creating a safer and more attractive environment for investors and private sector growth.

During the visit, Zulum was received by the managing director and chief executive officer of the NPA, Dr Abubakar Dantsoho, alongside executive director Engr Ibrahim Abba Umar.

The governor’s latest engagement comes months after a similar strategic visit to the Nigerian Shippers’ Council (NSC), where he advocated the speedy completion of the Maiduguri Dry Inland Port project.

The proposed dry port is expected to serve as a major economic hub for Nigeria’s Northeast region by bringing port services closer to businesses operating far from the coastal states.

According to the governor, the project would generate thousands of jobs, increase commercial activities and significantly reduce transportation and logistics costs for traders and manufacturers in the region.

He also noted that the facility would help decongest major seaports in Apapa, Calabar and Warri by easing cargo movement from the southern corridor to the northeast.

In another major economic initiative, the Borno State Government is pushing ahead with plans to establish the African Continental Free Trade Area’s (AfCFTA) center in Banki, a border town between Nigeria and Cameroon.

Zulum disclosed that the process of establishing the free trade zone is already at an advanced stage, describing it as part of a broader economic transformation agenda for the state.

“By simultaneously advancing the Dry Inland Port in Maiduguri and the Free Trade Zone in Banki, the state government is putting in place a coherent strategy to industrialise the state, create jobs, generate revenue and permanently shift the economy away from overdependence on federal allocations,” the governor stated.

Lafarge Africa Doubles Profit to ₦97.9bn in Strong Q1 Performance

By Auwal Ahmad Umar

Lafarge Africa Plc has reported a remarkable financial performance for the first quarter of 2026, posting a Profit After Tax (PAT) of ₦97.95 billion—more than double the ₦48.64 billion recorded in the same period of 2025.

The cement manufacturer’s unaudited financial results show that net sales climbed to ₦334.88 billion in Q1 2026, representing a 35 per cent increase from ₦248.35 billion achieved in the corresponding period last year.

The company attributed the strong growth to improved sales volumes, enhanced operational efficiency, and sustained cost-control measures across its business segments.

Speaking on the results, the Group Managing Director and Chief Executive Officer, Lolu Alade-Akinyemi, said the performance reflects the company’s disciplined execution of its strategic priorities.

“Our Q1 2026 results reflect continued progress in executing our strategic priorities. Net sales grew by 35 per cent year-on-year, supported by improved volumes, enhanced plant stability, and distribution efficiency,” he said.

He added that operating profit surged by 97 per cent to ₦141 billion, while profit after tax rose by 101 per cent, driven by supply assurance, prudent financial management, and a more efficient route-to-market strategy.

Alade-Akinyemi noted that the company is leveraging the expertise of its technical partner, Huaxin Building Materials Ltd, to further optimise operations and unlock additional efficiency gains.

According to him, Lafarge Africa will maintain strict cost discipline and focus on strategic capital deployment to sustain growth momentum, even as macroeconomic conditions gradually improve.

He explained that easing economic pressures and reduced global supply chain disruptions have supported stronger consumer demand, contributing to the company’s volume growth.

Looking ahead, the CEO expressed optimism about Nigeria’s infrastructure and construction sector, noting that expanding demand across key segments is expected to drive further growth.

“We anticipate continued market expansion from Nigeria’s infrastructure and construction sector demand, underpinned by improving economic fundamentals. We remain focused on capturing volume growth opportunities while maintaining cost optimisation to safeguard margins,” he said.

He also appreciated customers and stakeholders for their continued support, reaffirming the company’s commitment to delivering consistent performance and long-term shareholder value.

Lafarge Africa said it will continue to prioritise supply reliability, cost leadership, innovation, and sustainability initiatives, while maintaining high standards in health and safety across its operations.

Dangote Unveils ₦550m Hostel Project for FUTO Students, Donates ₦25m

By Auwal Ahmad Umar

OWERRI — Africa’s foremost industrialist, Aliko Dangote, has announced plans to fund the construction of a ₦550 million students’ hostel at the Federal University of Technology, Owerri, in a move aimed at tackling accommodation shortages in the institution.

Dangote made the pledge on Monday while delivering a keynote lecture at the university, where he spoke on the topic ‘Enterprise, Leadership and Service to Humanity‘. He said the initiative was part of his commitment to supporting education and improving student welfare.

In addition to the hostel project, the business mogul donated ₦25 million to students through the institution’s Student Union Government to support student-related activities.

He explained that the proposed hostel would help reduce the burden of inadequate housing on campus and create a more conducive learning environment for students.

Addressing the gathering, Dangote expressed confidence in the potential of Nigerian youths, noting that they possess the creativity and skills required to thrive globally if properly nurtured.

He revealed that several young Nigerian engineers trained at his refinery and fertiliser plants had attracted international attention, with some securing lucrative opportunities in Gulf countries where they are engaged as expatriates.

According to him, Nigeria’s challenges are matched by vast opportunities, including a vibrant youth population, rich natural resources and a strong entrepreneurial culture.

He described entrepreneurship as a powerful tool for economic transformation, stressing that equipping young people with relevant skills, mentorship and funding would enable them to become employers of labour rather than job seekers.

Dangote encouraged students to remain innovative and adaptable, urging them to continuously develop themselves in order to make meaningful contributions to society.

Reflecting on his journey, he recounted starting out as a small-scale trader dealing in commodities such as cement before expanding into full-scale industrial production.

He noted that his decision to move into manufacturing was driven by the need to produce locally what was previously imported, adding that reliance on imports weakens the economy.

“Bringing in finished goods from abroad only fuels unemployment and economic pressure, while exporting raw materials without processing limits national growth,” he said.

He emphasised that industrialisation is central to job creation and economic development, urging Nigerians to take ownership of the country’s future through local investment.

Dangote further argued that sustainable development must be driven by domestic investors, drawing parallels with Asian economies, which he said were built largely through internal investments rather than dependence on foreign capital.

“If we don’t invest in our country, others will not see the reason to do so,” he added.