Business
World Bank Praises Gombe for Strong RAAMP Performance
Gombe RAAMP World Bank commendation highlights strong performance as the state earns praise for rural road and agricultural development projects
The World Bank has commended Gombe State for its outstanding performance in implementing the Rural Access and Agricultural Marketing Project (RAAMP), ranking it among the best-performing states in Nigeria under the programme.
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World Bank commends Gombe State for RAAMP performance was delivered during the 10th Implementation Support Mission, where the World Bank team praised the state’s adherence to project guidelines and its commitment to transparency and accountability.
According to the task team leader, Gombe State has demonstrated remarkable progress in the construction of rural roads and the implementation of agricultural marketing initiatives aimed at improving market access and boosting economic activities in rural communities.
Officials noted that the developments under RAAMP are already enhancing connectivity across rural areas while creating improved opportunities for farmers and small-scale traders.
The Permanent Secretary of the Gombe State Ministry of Works, Housing and Transportation, alongside the state RAAMP Project Coordinator, expressed appreciation to the World Bank for the recognition, describing it as a validation of ongoing reforms.
A statement from the governor’s spokesperson, Ismaila Uba Misilli, attributed the achievement to the administration of Governor Muhammadu Inuwa Yahaya, noting that his commitment to development projects has strengthened implementation across sectors.
He added that the state’s interventions under RAAMP continue to improve rural access roads and support economic growth in underserved communities.
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The recognition was described as a morale booster for the state government, reinforcing its determination to sustain progress and maintain Gombe’s strong standing in the national implementation of the RAAMP programme.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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