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The African Export Import (AFREXIM) Bank has signed a $1billion memorandum of understanding (MoU) with the Dangote Group of Companies at the 24th Annual General Meeting of the bank holding in Kigali, Rwanda.

AFREXIM Bank’s president, Dr. Paul Oramah, said “the deal was part of the bank’s bid to expand businesses in Africa through disbursement of N9 trillion ($25) billion in the next five years.”

He said, “the bank, had set for itself target of strengthening businesses in various sectors of the economy within the region to bring a major change in the prevailing situation whereby once there was crash in commodity prices, it would send economies of most countries into recession.

He said the regional bank, which was currently focusing its core strategy on promoting intra-African trade, promoting industrialisation and export of manufactured goods as well as maintaining trade financing leadership in Africa, was already making its business supportive and promotion impact in many countries within the continent.

The AFREXIM Bank boss, commended the president of Dangote Group, Alhaji Aliko Dangote for his business efforts describing him as pride of Africa.

Listing Dangote group among the African business Champions, the continent could boast of Oromah, stated, “A number of African champions have emerged creating manufacturing capacities and fostering the emergence of regional and continental supply chains. For instance:

“The Dangote Group has cement plants in about 14 African countries and is now the largest supplier of cement in Africa. The Group will by 2018 open one of the largest refineries in the world. The refinery, with capacity of about 650,000 bpd, can supply the total refining requirements of West Africa.”

Speaking, Dangote thanked the bank for the loan saying it would be judiciously utilised in expansion of the group’s investment. He said the group had investments in 14 African countries adding that its main business in those countries was cement.

He said in its effort to expand its business frontiers, the group had to contend with competition, some of which comes from top government officials of the host countries and that the group had relied on legal appeals to surmount such problem.

The group, according to him, surmounts problem of high production cost in most of the African countries by generating its own power directly from the national grid.

He said even in the midst of the resistance, the group, paid its taxes to these countries and creates employment for their citizens.

He regretted the existing border challenges in the region adding that 30 per cent of business cost was from border challenges and called for ease in intra-Afrcan businesses as was the case in Asia and Europe.

He encouraged young investors in the country to believe in their abilities, adding that this was the beginning of their success.

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JUST IN: Suspected Gunmen Abduct APC Chairman’s Wife, Daughter In Kwara

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The wife and daughter of Alhaji Mohammed Swasun, chairman of the All Progressives Congress (APC) in Patigi Local Government Area of Kwara State, have been abducted.

The incident occurred on Sunday evening when suspected gunmen stormed the community. Swasun reportedly witnessed as his wife, Hajia Fatima, and daughter, Amina, were taken away to an unknown location.

A source confirmed that the matter has been reported to the Patigi Police Division.

“The authorities are aware, but the kidnappers have not contacted the family yet,” the source said.

As of the time of filing this report, security agencies have not issued an official statement on the incident.

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Dangote Vs NUPENG: Union Insists On Strike, Meets Federal Government, Others Today

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The Nigeria Union of Petroleum and Natural Gas Workers on Sunday said it would proceed with its planned strike today (Monday) despite intervention by the Federal Government.

NUPENG President, Williams Akporeha, confirmed that the government had reached out to the union but maintained that the industrial action would continue pending the outcome of a meeting with officials later today.

The union had on Friday announced that its members would stop loading petroleum products nationwide from September 8, following the Dangote Petroleum Refinery’s plan to import 4,000 Compressed Natural Gas-powered trucks for direct distribution to retailers.

In a joint statement signed by Akporeha and the union’s General Secretary, Afolabi Olawale, NUPENG accused the refinery of anti-labour practices, including moves to bar newly recruited drivers from joining any union.

The union described the policy as a violation of constitutional provisions and international conventions on freedom of association. Previous appeals by NUPENG and the Nigerian Association of Road Transport Owners to Dangote to reconsider were reportedly ignored.

To avert the strike, the Minister of Labour and Employment, Muhammad Dingyadi, on Sunday summoned all parties to a conciliation meeting in Abuja. He appealed to NUPENG to suspend the action and urged the Nigeria Labour Congress to withdraw the “red alert” issued in solidarity.

Dingyadi warned that a shutdown in the petroleum sector would cause severe hardship and revenue losses, but assured that government would work toward a resolution acceptable to all sides.

Akporeha, however, told The PUNCH that there was no concrete offer yet from government and confirmed that the strike would commence as planned.

Petroleum marketers also declared support for the union, saying filling stations would close if tanker drivers downed tools. PETROAN President, Billy Gillis-Harry, said the strike posed a “looming danger” and announced a three-day suspension of lifting and dispensing products beginning Tuesday.

He warned that Dangote’s distribution strategy could force out private depot owners, modular refineries, and independent marketers, with widespread job losses and economic disruption.

NUPENG restated on Sunday that the strike would go ahead, dismissing claims by the Direct Trucking Company Drivers Association that it could not speak for tanker drivers. The union alleged that the association was created by the refinery to weaken its ranks.

Labour leaders, including Nigeria Labour Congress President Joe Ajaero, also condemned Dangote’s policy, describing it as “crude and dangerous”.

Human rights lawyer, Femi Falana (SAN), called on government agencies to stop what he described as anti-union and monopolistic practices, stressing that they contravened Nigeria’s constitution, labour laws, and international obligations.

Meanwhile, the Economic Rights Activists urged NUPENG and its allies to suspend the strike, warning that it would inflict hardship on ordinary Nigerians, hike transport fares and food prices, and threaten small businesses.

They appealed to the National Assembly and the Federal Government to intervene, while urging the refinery to address workers’ concerns through dialogue.

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US Restricts Visa Interviews To Applicants’ Country Of Nationality, Residence

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The United States has announced a new policy requiring all non-immigrant visa applicants to schedule their interviews only at embassies or consulates in their country of nationality or residence.

In a statement issued on September 6, the U.S. Department of State said applicants who attempt to schedule appointments outside their home country could face significantly longer wait times and risk losing their application fees, which are non-refundable and non-transferable.

“Applicants for U.S. nonimmigrant visas (NIV) should schedule their visa interview appointments at the U.S. Embassy or Consulate in their country of nationality or residence,” the directive read.

The department explained that nationals of countries where routine non-immigrant visa services are unavailable must apply at designated embassies or consulates, unless they reside elsewhere. Applicants must also prove residency in the country where they apply.

It added that those applying outside their nationality or residence could “find it more difficult to qualify for the visa,” stressing that existing appointments would generally not be cancelled.

The new rule does not apply to applicants for diplomatic or official visas, A, G, C-2, C-3, NATO categories, or those covered by the UN Headquarters Agreement. Exceptions may also be made for humanitarian, medical, or foreign policy reasons.

For Nigerians, the change means travellers seeking American visas must apply only at the U.S. embassy in Abuja or the consulate in Lagos, unlike before when some opted for appointments in other countries to escape long delays.

The directive is part of a wider tightening of U.S. visa rules, a process that began under former President Donald Trump’s administration.

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