Business
MAN Calls on NAFDAC to Suspend Sachet Alcohol Ban
MAN urges NAFDAC to halt its sachet alcohol ban, warning it threatens jobs, indigenous producers, government revenue, and could boost illicit products
The Manufacturers Association of Nigeria (MAN) has called for restraint following NAFDAC’s renewed ban on sachet alcoholic beverages, warning the move could disrupt businesses, threaten jobs, and harm the Nigerian economy.
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MAN’s Director General, Segun Ajayi-Kadir, said the ban contradicts the Federal Government’s directive and earlier resolutions by the House of Representatives, which had restrained NAFDAC from taking punitive action against sachet and PET bottled alcohol.
He cautioned that banning the products would push consumers toward illicit, substandard alternatives, deny adult consumers affordable options, and reduce government revenue from local producers.
Ajayi-Kadir stressed that sachet alcohol is produced under hygienic conditions and certified by NAFDAC and other regulatory agencies.
The MAN DG also highlighted that the industry has actively promoted responsible consumption and spent over N1 billion on campaigns to prevent underage abuse.
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He urged the Federal Government to intervene and ensure NAFDAC suspends the ban, allowing local manufacturers to operate profitably while adhering to regulations.
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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