Business
President Tinubu Reaffirms Commitment to Pro-Business Reforms in Meeting with Airtel Chairman
In a meeting with Airtel Chairman Sunil Bharti Mittal at the State House in Abuja, President Bola Tinubu emphasized his administration’s dedication to creating a conducive environment for business growth, particularly in the telecom sector. The President stated that Nigeria’s regulatory framework for telecommunications would be revised to align with global best practices, with a strong focus on safeguarding infrastructure.
During the meeting, President Tinubu expressed appreciation for the confidence and readiness demonstrated by Mittal and his delegation. He highlighted the fruitful discussions held during the recent visit of India’s Prime Minister and reaffirmed Nigeria’s openness to learn from successful global models. “I am grateful for your openness, readiness, and confidence, which moved us very close to the Prime Minister of India. When he was here, we discussed things at length,” said the President.
He further assured that Nigeria is prepared to adopt policies that have proven successful elsewhere, particularly if they contribute to economic growth. “The entire ecosystem will be further examined, and if there is anything we can copy from India, we are ready to do so. We are prepared to learn. We are not ashamed of copying what is working in other climes,” he said, emphasizing the critical need to adopt revolutionary strategies that benefit the nation. Tinubu added, “It is for the good of all of us, and Nigeria is so critically important that we must give attention to those revolutionary intentions that can make business work. I am pro-business, and I will continue to be that. I can give you that assurance.”
The President also spoke on the importance of ongoing tax reforms in fostering a more investor-friendly climate, pledging to work with tax administrators to encourage growth and create opportunities.
Bosun Tijani, Nigeria’s Minister of Communication, Innovation, and Digital Economy, thanked President Tinubu for his continued support of the telecom industry. Tijani specifically highlighted the President’s recent approval to classify fiber optic and undersea cables as critical national assets, a move expected to enhance the sector’s growth. He confirmed that the National Security Adviser’s office has already started enforcing this protection.
Mittal commended the President for the impactful economic reforms he has undertaken, drawing parallels between Nigeria’s current transformation and India’s economic resurgence in the early 1990s. Reflecting on India’s struggles at the time, Mittal noted, “When you took office, you made some promises. Given the country’s situation, I was unsure how deep and far you could take your commitments.” He compared the reforms in Nigeria to those that had propelled India into one of the largest economies in the world, saying, “The duties went down, the rupee was floated, and it depreciated significantly. Relicensing happened, and it was the dawn of a new world in India. We just moved forward.”
He praised Tinubu for his resilience and decisive actions, such as floating the naira and removing the petrol subsidy, both of which had significant economic impacts. “I feel that what you have done here is unprecedented in a challenging time. Only people of resolve and steel can endure this huge pressure, floating the naira, which moved from N450 to about N1900 and is now coming back to N1400 to N1500. It has been a remarkable achievement celebrated by the entire world. This was much required, and you delivered on your promises,” he said.
Acknowledging the tough decision to remove the petrol subsidy, Mittal added, “The second one was the removal of subsidy, which was a very tough decision for any politician. It was unpopular and difficult, but you held your position, knowing fully that not doing it would not help the country. You have taken a long-term position. It is my belief and hope that you have created a legacy for yourself. Your first term as President will mark a watershed in the development of your country.”
He concluded by urging more Nigerians, especially those with substantial financial portfolios abroad, to invest back into the country. He noted that many local businesspeople are now feeling more optimistic and ready to invest, echoing his experiences in India. “I have been speaking to people in Nigeria, friends and business people, and they are all now feeling calm, and when they start to get back, they will move very fast. I have experienced this in India,” he stated.
The exchange highlighted President Tinubu’s commitment to supporting policies that ensure long-term economic growth and sustainability, positioning Nigeria as an attractive destination for investment.
The Dangote Group is pursuing a $45bn investment programme across its businesses as it targets annual revenue of $100bn by 2030, with Dangote Cement expected to play a major role in funding the conglomerate’s next phase of expansion.
The group’s expansion strategy covers cement, refining, fertiliser, gas, infrastructure and other industrial businesses as it seeks to increase production capacity and strengthen its presence across African markets.
Dangote Cement, described as the group’s largest cash-generating business, is targeting an increase in annual production capacity from its current 55 million tonnes to more than 80 million tonnes as part of the growth programme.
The cement company said its expansion strategy would rely substantially on internally generated cash, reflecting the strength of its existing operations and cash-generating capacity.
In the 12 months to June 2026, Dangote Cement recorded revenue of $3.1bn, representing a 22 per cent year-on-year increase. Its cash conversion stood at 89 per cent, while return on capital employed reached 68 per cent during the period.
The company’s financial performance has also remained strong in naira terms. For the first half of 2026, Dangote Cement reported profit before tax of N981.39bn, up 34.43 per cent from N730.03bn recorded in the corresponding period of 2025. Profit after tax rose 22.69 per cent to N638.53bn.
The group’s wider investment plan is expected to include further expansion of the Dangote Refinery, with its capacity targeted to rise towards 1.4 million barrels per day. The company is also pursuing gas and LNG projects and additional industrial investments across Africa.
Dangote Cement’s expansion includes projects such as the proposed six-million-tonne-per-year plant at Itori in Ogun State, which is expected to strengthen the company’s production base as demand for cement and construction materials grows across the continent.
The group is also increasingly positioning its businesses around export earnings and geographically diversified operations. Management expects a larger share of revenue to be generated in foreign currency as its African expansion gathers pace.
The scale of the investment programme is underpinned by the group’s broader Vision 2030 strategy, which includes a target of more than $30bn in adjusted earnings before interest, taxes, depreciation and amortisation by 2030 alongside the $100bn revenue objective.
For Dangote Cement, the strategy represents a combination of capacity expansion and financial discipline, with strong operating cash flows expected to support investment while maintaining the company’s balance-sheet strength.
The wider Dangote Group is therefore positioning its 2030 strategy around expanding industrial capacity, increasing exports and using the cash generated by established businesses to finance further growth across Africa.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
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