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China Dominates Africa’s Business Because West Won’t Finance Projects – Dangote

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Africa’s richest man, Aliko Dangote, says China has become Africa’s dominant business partner because Western countries often fail to provide the financing support needed for large-scale industrial projects.
Speaking on a podcast, Dangote stated: “Honestly, China has really dominated business in Africa because of the absence of the others.”
He explained that Chinese suppliers offer equipment on credit backed by export insurance, allowing African businesses to spread payments over several years rather than paying up front, giving them a significant advantage.
Key Points:
Chinese firms offer 20% down payment with the rest financed over five years; Western firms demand full payment upfront.
Dangote plans to spend $45 billion on expansion projects between 2026 and 2030.
The US Development Finance Corporation is now showing “renewed interest” in African infrastructure.
Dangote warned a Japanese delegation that Japan will “be missing for a very long time” unless it changes its approach.
Financing terms now matter more than technology alone in Africa’s industrial sector.
Sources: Premium Times
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Breaking News
Police Dismiss Officers for kidnapping, Extortion, Armed robbery in Rivers State

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The Nigeria Police Force has dismissed several officers over alleged kidnapping, armed robbery, extortion, and other criminal activities in Rivers State. Investigations uncovered a criminal syndicate involving Inspectors Ayanniyi Jelili, Durojaye Francis, and Olayemi Titus, who allegedly abducted victims during illegal stop-and-search operations, accessed their banking and cryptocurrency apps, and extorted millions of naira. In a separate case, five other officers were dismissed for organised kidnapping and extortion. Three accomplices remain at large.
Key Points:
The dismissed officers used police uniforms and firearms to kidnap and rob civilians.
Victims were forced to transfer money from bank and cryptocurrency apps during illegal patrols.
N7.3 million was recovered, along with three Toyota Sienna buses used for operations.
Three accomplices remain at large as police continue investigations.
The police described the conduct as “a gross betrayal of ethics and professional values.”
Sources: Premium Times
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Breaking News
‘I Chose business over Arsenal’ – Dangote Explains why he Didn’t Buy the Gunners

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Africa’s richest man, Aliko Dangote, has revealed how the enormous scale of his 20 billion refinery project in Lagos forced him to abandon plans to buy English Premier League giants Arsenal.
Speaking on a podcast, Dangote explained that when Arsenal was valued at about 20 billion, a refinery project in Lagos forced him to abandon plans to buy English Premier League giants Arsenal.
He had to choose between buying the club or completing his refinery, fertiliser, and petrochemical projects. He decided to remain a loyal supporter, saying: “I should remain a fan and continue to fund my business.”
Key Points:
Dangote prioritised a transformational African industrial project over personal football ownership.
Arsenal’s value has risen dramatically since it first explored a takeover, now worth billions more.
He has been an Arsenal fan for over a decade and wears a signed jersey for every game.
Dangote urged young Africans to “stay at home” and believe in the continent’s opportunities.
The refinery stands as proof that long-term investment in Africa can yield transformational results
Sources: Premium Times
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Oyo Shuts Schools in four LGAs as Gunmen Kill teacher, Abduct principal, students

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The Oyo State Universal Basic Education Board has ordered the closure of schools in Oriire, Surulere, Oyo East, and Olorunsogo Local Government Areas following a kidnap incident in Ahoro-Esinle community on Friday.
Gunmen abducted the principal and several students of Community High School, Ahoro-Esinle, and a teacher was killed during the attack. OYOSUBEB chairman Nureni Adeniran said security operatives have deployed a tactical response team to rescue the victims and stabilise the situation.
Key Points:
A teacher was killed in addition to the abduction of the principal and students.
The exact number of abducted pupils has not yet been ascertained.
Schools in four LGAs are shut indefinitely to prevent further attacks.
Security agencies are still combing the affected areas for victims.
The closure aims to allow security operatives to stabilise the area.
Sources: The Cable, Channels
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