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Wike: Guzape Mall to Drive Economic Growth in Abuja

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The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has said the newly constructed Guzape Mall Abuja will boost economic growth by fostering increased trade and commercial activities within the country’s capital.

Speaking during the official commissioning of the mall, constructed by the Abuja Investment Company Limited (AICL), in partnership with Urban Shelter Limited, the minister highlighted its potential to increase the internally generated revenue of the FCT.

Our reporter wrote that the Guzape Mall sits on 1.45 hectares of land, with over 200 parking spaces and 46 commercial spaces.

Represented by the Minister of State for FCT, Dr Mariya Mahmoud, the Minister described the project as a notable step forward in advancing infrastructure development, stimulating investment, and fostering sustainable economic growth within the Federal Capital Territory.

Wike commended the Group Managing Director of Abuja Investments Company Limited, Amb. Maureen Tamuno, for successfully completing the project, which was conceptualized 10 years ago, during her first year in office.

 

His words: “We are witnessing yet another significant milestone– the birth of a vibrant commercial hub that will serve the growing needs of our community here in Guzape and beyond. This mall represents progress, vision, and the spirit of development that continues to define Abuja as a modern and one of the fastest growing cities in the world.

“This beautiful edifice (Guzape Mall) is more than just a place for shopping—it is a place for connection, for opportunity, for business growth, and for leisure. It provides a platform for local entrepreneurs, job creation for our youths, and a modern space where families and friends can gather and enjoy quality services.

“The Administration’s dedication to modernizing Abuja through sustainable and strategic projects is a testament to its vision for a prosperous and well-connected capital. These developments not only boost economic growth but also reinforce Abuja’s status as a world-class city”.

On her part, the Group Managing Director, Abuja Investments Company Limited, Amb. Maureen Tamuno applauded the FCT Minister for his visionary and unwavering commitment to making Abuja a world-class city.

According to her, development of the mall demonstrates another successful public-private partnership geared towards the advancement of the district.

“The Guzape Mall has provided hundreds of jobs for our locals during the construction period and now opens the door to many more job opportunities in retail, services, hospitality, and maintenance.

“Beyond the numbers, it is the vision behind this Mall i.e. the blend of modern architecture and sustainable design that defines the new Abuja. In addition, the Mall’s strategic location ensures that not only the residents of Guzape and Asokoro are catered to, but also those of Garki and Apo, with expectations of patronage from other parts of the city”, she said.

In her remarks, the Managing Director, Urban Shelter, Saadiya Aminu noted that the Mall would not only enhance the economic landscape of Abuja but also provide a modern and vibrant space for businesses to thrive.

The Mall, she said, is now open for business, calling on investors to take advantage of the prime location and state-of-the-art facilities to set up their businesses, and for entrepreneurs to explore opportunities in the various commercial spaces available.

She also invited the public to come and experience the mall’s offerings, promising a unique and enjoyable shopping, dining, and entertainment experience.

Aminu expressed confidence that the Guzape Mall would become a hub for commerce and innovation in Abuja, driving growth and development in the region.

In their separate goodwill messages, Minister for Special Duties and Inter-governmental Affairs, Zaphaniah Jisalo; former Governor of Niger State, Mu’azu Babangida Aliyu; ex-Minister of Sports and Chairman, North Central Development Commission, Engr. Sani Ndanusa as well as Head of Service (HoS) of the Federal Capital Territory (FCT), Grace Adayilo lauded the leadership of the two FCT Ministers and Amb. Tamuno for their dedication to economic development in the country’s capital.

Specifically, Jisalo called for the replication of the mall in others districts

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Tinubu to Open Niger Delta Economic Summit in Port Harcourt

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Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth

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Dangote Refinery Sets ₦525 Share Price for Landmark IPO

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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.

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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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Glo @23: Staff Unite for a Memorable Sports Celebration

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Glo marks its 23rd anniversary with a lively staff sports fiesta in Lagos, featuring football, games, prizes and celebrations centred on teamwork (more…)

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