General News
NPA Brainstorms on 5-Year Development Plan
Mallam Habib Abdullahi, managing director of Nigerian Ports Authority (NPA), has urged top management staff of the organization to remain focused and rededicate themselves toward attaining its mission and vision of becoming the leading port in Africa and to deliver efficient port services in a safe, secure and customer friendly environment.
While speaking at a retreat, Abdullahi recently made the call-on to management staff, fashioning out a five year strategic development plan for the NPA, according to Ships and Ports Daily.
He said time has come for every top management staff of the Authority to initiate strategies for the overall development of the nation’s seaports to meet International standards.’
While reiterating the need for all top management staff members to embrace new technology and innovation; which can make the mission and vision a reality, he urged participants to draw a roadmap for the future of the organization.
Speaking earlier, Mr. Olumide Oduntan, executive director, Finance and Administration of NPA, told the gathering comprising of Executive Directors, General Managers,Assistant General Managers and Port Managers that as leaders, there are subordinates who look forward to them for inspiration and leadership.
According to him, NPA has a direction that is outlined in its vision and mission, which all management staff must key into.
After watching a video clip on the Port of Singapore during the opening session, Odunatan told the participants that “nothing happens by chance. Somebody or group of people dreamt about what is happening now in Singapore and other major ports of the world some years ago”.
Participants at the weekend retreat stressed the need for every employee to imbibe the culture of efficiency and leave no margin for error at the work place irrespective of cadre in the organization.
Participated also suggested other areas for management to look into include reward and consequence systems in the work environment, motivation, attitudinal change, succession plans, political interference, multiplicity of agencies at the ports, monitoring and evaluation of performance , among others.
Meanwhile, Abdullahi has called for mutual economic cooperation between NPA and the Port of Hong Kong, especially in the area of training and manpower development.
Abdullahi made the call in Lagos recently while receiving the International President of the Chartered Institute of Logistics and Transport (CILT), Dr. Dorothy Chan who paid a courtesy visit to his office recently.
He said NPA has operated the landlord model of port operation since 2006 after port terminals were out-sourced to private operators.
He said NPA is willing to avail its experiences to other ports who may wish to operate the model.
Abdullahi noted that NPA has benefited from the programs of CILT and other organizations like the Port Management Association of West and Central Africa (PMAWCA), International Association and Ports and Harbours (IAPH), and others.
While acknowledging the support of the International President to the Nigerian chapter, he assured Chan that NPA will continue to give maximum support to the activities of CILT.
Earlier, the CILT International President who hails from Hong Kong and is the first female President of the 95 year old institute, said she is aware of the enormous contributions NPA has made towards the growth of CILT in Nigeria.
Chan appealed to Abdullahi to assist CILT Nigeria in respect of its bill before the National Assembly which she said aims at according professional recognition to CILT in Nigeria.
She was accompanied on the visit by the International Secretary General of the institute, Keith Newton; President of CILT Nigeria, Major General U.T Usman, CILT Nigeria National Executive Director, Francis Ehiguese; and the Chairpersons of Nigeria, Ghana, South Africa and Ugandan chapters of Women in Logistics and Transport (WILAT).
Dangote Petroleum Refinery is reportedly nearing completion of a $2.5 billion private placement that values the company at about $40 billion ahead of its planned public listing.
Private placement is the direct sale of company shares or bonds to pre-selected investors instead of the general public and it is used to raise money quickly while avoiding strict public reporting rules.
People familiar with the transaction said investors acquired as much as 6 per cent of the refinery, according to a BusinessDay report.
The reported terms would value the business at approximately $40 billion.
Neither Dangote Group nor the refinery has publicly announced the final amount raised, the identities of most subscribers or the precise percentage sold.
The figures should therefore be treated as transaction details supplied by unnamed sources rather than confirmed company disclosures.
The reported $2.5 billion total is nevertheless significant as it indicates strong demand for exposure to a privately controlled refinery that has rapidly become central to Nigeria’s fuel supply and an increasingly important exporter of petroleum products.
The placement was said to have attracted more demand than the available shares, allowing the company to secure substantially more than the amount initially associated with the fundraising exercise.
Femi Otedola, chairman, First HoldCo, is the only major participant publicly identified in the report.
He reportedly committed $100 million to the transaction and sold his investment in Geregu Power Plc to finance the acquisition.
Nigeria’s pension industry was also reportedly cleared to participate.
Access to more than $17 billion in retirement assets would broaden the refinery’s potential investor base beyond wealthy individuals and conventional institutional buyers.
Participation by Pension Fund Administrators would, however, require careful attention to valuation, liquidity and portfolio-concentration limits.
Retirement funds must balance the attraction of a large Nigerian industrial asset against their responsibility to protect contributors’ savings.
The implied $40 billion valuation represents investor expectations about the refinery’s future earnings rather than only the physical cost of constructing the facility.
Its ability to process 650,000 barrels of crude daily gives it a central role in supplying Nigeria and other markets, but its commercial performance remains connected to crude availability, product prices, exchange rates and regulation.
The refinery has struggled to obtain all the Nigerian crude it requires under the government’s naira-for-crude arrangement.
It has consequently purchased some feedstock internationally and recently moved local petroleum-product pricing into dollars to align sales revenue more closely with its foreign-currency expenses.
Those constraints will be important during any public offering.
Prospective shareholders will want greater clarity on crude-supply contracts, debt, operating margins, export revenue and the company’s relationship with Nigerian regulators.
It is also unclear whether the private placement involved newly issued shares, a sale by existing owners or a combination of both.
That distinction determines whether the reported $2.5 billion becomes fresh capital for the refinery or proceeds received by selling shareholders.
The transaction could provide a useful price reference for the planned initial public offering.
Federal government will next month launch Nigeria’s first national organized crime strategy to strengthen the country’s response to terrorism, cybercrime, human and drug trafficking, kidnapping, illicit financial flows, and other forms of organized crime.
Major General Adamu Laka, national coordinator of the National Counter Terrorism Centre under the Office of the National Security Adviser, disclosed this in Abuja during the validation of the strategy document.
He said the strategy provides a coordinated national framework for tackling organized crime through improved intelligence sharing, stronger collaboration among security agencies, and closer cooperation with the criminal justice system, civil society organizations, and international partners.
Major General Laka explained that the document was developed through a partnership involving the Federal Government, the United Nations Office on Drugs and Crime (UNODC), the United States Government, and other stakeholders.
Speaking at the event, Cheikh Toure, UNODC representative, said the strategy would strengthen Nigeria’s capacity to combat transnational crimes, including drug trafficking, cybercrime, human trafficking, kidnapping, and illicit financial flows.
Also speaking, Douglas Grane, acting director of the United States Department of State’s Bureau of International Narcotics and Law Enforcement Affairs, reaffirmed the U.S. government’s support for Nigeria’s efforts to tackle organized crime through stronger inter-agency and international cooperation.
Representatives of the National Institute for Strategic Studies, the Nigeria Financial Intelligence Unit, and the National Cyber Security Centre also endorsed the initiative, describing it as a major step towards improving Nigeria’s fight against organized crime.
FATE Foundation, with funding from the Citi Foundation, has launched the Youth Entrepreneurship Incubation Programme to equip young people in Nigeria with financial literacy and entrepreneurship skills.
Delivered through free, safe, and accessible platforms, the programme supports the incubation and scaling of youth-led enterprises, enabling income generation and job creation.
In October 2025, FATE Foundation was selected as a recipient of Citi Foundation’s 2025 Global Innovation Challenge to Accelerate Youth Employability. Joining the cohort of 50 organisations globally, the Foundation will receive $500,000 over two years to advance its youth employability initiative.
“We are excited to be selected for Citi Foundation’s 2025 Global Innovation Challenge,” said Ayomide Akindolie-Igwe, Executive Director of FATE Foundation.
“This support enables us to equip young entrepreneurs in Nigeria with the financial literacy and skills needed to build and scale sustainable businesses.”
The programme addresses youth employability by tackling Africa’s growing jobs crisis. By 2030, the African continent will be home to 40% of the world’s youth, and with one in three under 35 already unemployed, this initiative will support Nigerian youth with a two-phase approach. It begins with financial literacy training before progressing to entrepreneurship development, incubation support, and access to tools needed to build viable, job-creating businesses.
“Through this innovative initiative, FATE Foundation is supporting low-income Nigerian youth to develop essential financial and entrepreneurial skills using accessible platforms.
“This support is not just helping individuals to succeed; it is building a solid foundation for sustainable enterprises that will drive job creation and contribute significantly to our nation’s economic vitality. This initiative is empowering and investing in the future of Nigeria, one youth at a time,” said Nneka Enwereji, MD/CEO Citibank Nigeria Limited.
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