Business

NECA Champions ESG in Nigerian Business Through Strategic Training

Published

1 year ago

July 24, 2025

ESG in Nigerian business gains momentum as NECA empowers 52 firms through training to embed sustainability, social impact and governance into core strategy

ESG in Nigerian business is no longer a futuristic goal — it has become a vital standard for competitiveness and resilience.

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Recognising this, the Nigeria Employers’ Consultative Association (NECA) is taking decisive action to support businesses in embracing sustainability.

On 8–9 July in Lagos, NECA hosted a Training of Trainers (ToT) session under the ILO ACT/EMP’s LEADER Programme, which stands for Leading Employers in Action for Social and Environmental Responsibility.

The training, conducted in partnership with the ITCILO, was tailored to meet the unique needs of Nigerian enterprises navigating Environmental, Social and Governance (ESG) compliance.

A total of 20 NECA staff and partners participated in the capacity-building workshop. They will now serve as key resource persons for expanding ESG practices across various industries.

Following this, NECA organised a two-day step-down training from 10–11 July.

Representatives from 52 companies — ranging from multinational corporations to small and medium enterprises — gathered to enhance their ESG knowledge, exchange ideas, and build strategies to integrate sustainability into their daily operations.

“ESG is no longer an option, and NECA is committed to championing it and demonstrating leadership in sustainable business practices,” said Mr Adewale-Smatt Oyerinde, NECA’s Director-General.

Participants explored practical applications of ESG principles, including environmental stewardship, ethical labour practices, inclusive growth, and transparent governance structures.

The training provided actionable frameworks for aligning business goals with global sustainability standards while addressing local challenges.

The initiative reflects NECA’s commitment to creating a responsible and competitive private sector that thrives not just on profit, but on purpose and accountability.

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ESG in Nigerian business is gaining traction — and thanks to leadership from organisations like NECA, more companies are now equipped to rise to the challenge of sustainability with clarity and confidence.

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Business

Dangote Refinery Sets ₦525 Share Price for Landmark IPO

Published

7 days ago

September 5, 2026

Basit Saba

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.

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.