Personality in Focus
Otedola Displays Trust in Dangote Cement, Acquires ‘Significant’ Shares
Billionaire business man, who is also a distinguished entrepreneur and investor, Femi Otedola, has announced a significant acquisition of shares in Dangote Cement, the only cement company in Nigeria with two export terminals, with a combined export capacity of eight million tons per annum.
This strategic investment underscores Mr Otedola’s confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.
Though the businessman did not however, disclose the volume of shares he acquired, Premium Times had exclusively reported that he bought N6 billion worth of stocks in the company.
As Sub-Saharan Africa’s largest cement producer, Dangote Cement boasts an annual production capacity of 51.6 million tons across ten countries. This extensive footprint not only highlights the company’s dominance in the cement industry but also its crucial role in driving economic growth across the region.
Dangote Cement’s export capabilities and extensive operations across Sub-Saharan Africa are essential for regional economic integration and growth,” Mr Otedola said. “My investment is a testament to my confidence in its potential to propel Nigeria’s and Africa’s industrial and economic development.”
Mr Otedola’s investment aligns with his vision of long-term wealth preservation and the belief that shareholders should be the primary beneficiaries of a company’s success.
“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice,” the businessman said.
“Dangote Cement’s track record of dividend payments, exceeding N2.1 trillion in recent years, and its commitment to sustainable business practices resonate with these principles. Mr Otedola’s investment strategy prioritises companies that are well-managed, have strong governance, and operate under the principle that no individual should be larger than the company.
“In my investment decisions, I focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company’s success,” Mr Otedola said.
“Companies like Dangote Cement, which consistently deliver value to their shareholders, are fundamental for sustainable economic growth. My investment reflects my belief in its capacity to continue providing significant returns and my commitment to businesses that prioritize their shareholders.”
The evolving regulatory landscape in Nigeria, emphasising Environmental, Social, and Governance (ESG) compliance, complements Mr Otedola’s investment criteria.
Premium Times
Personality in Focus
Transparency Now a Standard at LSSTF, Ayo Ogunsan Vows, Mulls Establishment of Monitoring Team
By Eric Elezuo
The new helmsman at the Lagos State Security Trust Fund (LSSTF), Dr. Ayodele Ogunsan, has vowed that under his watch as the Chief Executive Officer/Executive Director, transparency at all levels will remain the standard, and no longer treated as an exception.
“Public confidence in the Fund is essential. Under my leadership, transparency will be the standard not the exception,” the CEO harped.
Ogunsan made the remarks while addressing a cross section of Security journalists at his Alausa office on Friday, marking the official kickoff of his stewardship in the new portfolio, saying “We will maintain strict oversight on contractor performance, monitor all funded projects closely, publish updates on the utilization of donations, strengthen internal governance and reporting, and deepen stakeholder communication and feedback mechanisms”.
Speaking matter of factly, the CEO noted that his “appointment is a call to service, a responsibility I embrace with humility and unwavering commitment to the safety and well-being of over 20 million Lagosians, who depend on a secure environment to live, work, and thrive,” harping that he will do everything within the legal and humanitarian provisions to ensure that relationship with the security operatives, media and the general public towards security lives and property in Lagos State is not compromised.
Acknowledging Lagos as one of Africa’s fastest-growing megacities, he said noted that there’s the need to shift from traditional security practices, and embrace innovation, strengthen collaboration, and ensure that “our response to emerging security challenges is swift, modern, and people-centered.”
While also highlighting the vision of the Fund as a partner to the government on safety and security, Ogunsan called on donations from all and sundry, saying that “The Fund’s success has always depended on the generosity and partnership of corporate organisations, influential institutions, and public-spirited individuals”, and urged on well meaning and spirited individuals to heed the call to ensure a Lagos where residents can sleep with both eyes closed.
He further stressed that partnership with the public has seen to the investment in ‘critical assets such as patrol vehicles, communication equipment, bulletproof vests, marine assets, training for personnel, and other vital tools that have helped law enforcement safeguard our communities’, adding that time has come to do more with appropriate monitoring.
He noted further:
“In the coming months, we will launch a renewed drive for retail donations — because security is personal. We want every citizen to have the opportunity to contribute directly to making Lagos safer.
“Our plans include:
• A wide-reaching public awareness campaign
• User-friendly digital donation platforms
• Youth-focused engagement and volunteer initiatives
• A strong presence on social and community channels”
Ogunsan while acknowledging responses and contributions from members of the media, he announced that beyond depending on the security agencies for feedbacks, the Fund will launch its own outfit to be known as ‘LSSTF Monitoring Team’ towards ensuring that all materials supplied to security agencies and others are well used, maintained and accounted for.
He also appreciated the governor of Lagos State, Babajide Sanwo-Olu for the opportunity to serve, pledging to improve on the efforts of his predecessors.
Prior to becoming the CEO of the Fund, Ogunsan, a known philanthropist, was a board member.
Other members of staff, who joined him at the parley, were LSSTF Director of Administration, Mr. Degbola Lewis, and Executive Assistant, Mrs. Adaobi Nwankwo.
The Chairman/CEO of Adron Group, who is also Otun Akile of Remoland, Aare Adetola Emmanuelking, has joined well-wishers across Remoland and beyond to celebrate the Akarigbo and Paramount Ruler of Remoland, His Royal Majesty Oba Babatunde Adewale Ajayi, Torungbuwa II, as he marks his 63rd birthday.
In his heartfelt tribute, Aare Emmanuelking described the Akarigbo as a ruler whose life radiates uncommon wisdom, authenticity, and grace. He noted that under Oba Ajayi’s steady and visionary leadership, the Remo Kingdom has continued to flourish, earning him the admiration of his people and respect across Yoruba land.
He praised the monarch’s intellectual brilliance, humility, and deep compassion, qualities he described as central to the Akarigbo’s enduring impact. “Your Majesty’s wisdom illuminates minds, your presence uplifts hearts, and your life exemplifies the harmony of intellect, humility, and grace,” Aare Emmanuelking stated.
He further highlighted that Akarigbo’s reign has been one of dignity, intention, and positive transformation. According to him, it is the character of the man behind the crown that truly endears Oba Ajayi to the people, noting that his counsel often “creates ripples of influence far beyond the palace walls.”
As Kabiyesi marks his 63rd year, Aare Emmanuelking offered prayers for continued good health, peace, joy, and divine wisdom, expressing confidence that the monarch’s legacy of service and enlightenment will continue to guide future generations.
Oba Babatunde Adewale Ajayi, who ascended the throne in 2017, is widely regarded as a progressive and community-focused leader, one whose modern, people-centric approach has strengthened unity and development across Remoland.
The Nigerian Senate has confirmed General Christopher Musa, the former Chief of Defence Staff, as the country’s new Minister of Defence.
The announcement was contained in a statement by Bayo Onanuga, Special Adviser on Information and Strategy to President Bola Tinubu.
Musa, who retired from the military just 40 days ago, was nominated by President Tinubu on Tuesday to succeed former Defence Minister Mohammed Badaru Abubakar, who stepped down on health grounds.
According to Onanuga’s statement, the Senate approved Musa’s appointment on Wednesday through a voice vote, following a thorough screening session during which lawmakers posed numerous questions.
“Senate confirms Gen. Christopher Musa as Minister of Defence The Senate has confirmed the former Chief of Defence Staff, Gen. Christopher Musa, as the Minister of Defence. The Senate confirmed Musa on Wednesday via a voice vote after a rigorous screening session in which lawmakers asked him many questions,” the statement read in part.
