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Ethiopia, Djibouti hail Dangote’s $660 million pipeline as energy security boost

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Ethiopian Prime Minister Abiy Ahmed and Djibouti President Ismaïl Omar Guelleh have commended Dangote Group’s $660 million Damarjog-Dewele Oil Terminal and Pipeline Project, describing it as a major infrastructure investment capable of transforming regional trade and energy supply.

The leaders spoke at the groundbreaking ceremony for the project at the Damerjog Industrial Development Free Trade Zone in Djibouti.

The project involves the construction of a 120-kilometre multiproduct pipeline connecting marine and coastal storage facilities at Damarjog in Djibouti with inland storage and distribution facilities at Dewele in Ethiopia.

Upon completion, the pipeline is expected to facilitate the movement of refined petroleum products into Ethiopia, reduce transportation bottlenecks and improve the reliability of fuel supplies to the country and the wider region.

Boost to Djibouti

President Guelleh said the project would support Djibouti’s ambition to become a major logistics, industrial and energy hub in Africa.

“Today marks an important chapter in Djibouti’s journey toward becoming a premier centre for logistics, energy, and industrial development. The Damarjog-Dewele Pipeline Project is not merely infrastructure; it is an investment in the future prosperity of our region,” he said.

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According to him, the investment would increase trade volumes, expand port operations, attract additional investments and create direct and indirect employment opportunities.

“We are proud to partner with the Dangote Group in delivering a project that demonstrates the strength of African-led investment and practical African solutions to African challenges,” Mr Guelleh said.

On his part, Prime Minister Abiy said the pipeline would strengthen Ethiopia’s energy security by providing a more efficient and reliable channel for transporting refined petroleum products.

“Ethiopia’s continued economic expansion depends on reliable and efficient access to energy resources. This pipeline will provide a modern, dependable, and cost-effective system for transporting refined petroleum products into the country, thereby enhancing our energy security and reducing supply-chain vulnerabilities,” he said.

He said the project would support sectors including aviation, transportation, agriculture, manufacturing and construction by improving access to petroleum products.

The prime minister also said the infrastructure would reduce losses associated with long-distance transportation and improve the efficiency of Ethiopia’s petroleum distribution network.

He described the project as another example of economic cooperation between Ethiopia and Djibouti.

The project will reduce logistics risks

Speaking at the ceremony, Aliko Dangote, President and Chief Executive of Dangote Industries Limited, said the project was part of the group’s broader efforts to develop infrastructure that supports Africa’s economic growth and self-sufficiency.

“This project is designed to enhance energy security, improve supply-chain efficiency, and create sustainable economic value for both Djibouti and Ethiopia,” Mr Dangote said.

He said Djibouti would benefit from increased port activity, revenues and employment, while Ethiopia would gain improved energy security and reduced logistics constraints.

Mr Dangote noted that the Djibouti corridor is a major route for Ethiopia’s imports and exports, including petroleum products.

According to him, the pipeline would reduce dependence on long-distance tanker movements, ease congestion and lower operational risks associated with transporting petroleum products by road.

READ ALSO: Dangote refinery drove Nigeria’s petrol supply in August as NNPC refineries remain shut — Report

The project is also expected to create jobs during construction and operation and provide opportunities for local contractors, suppliers, transport operators and communities.

The Damarjog-Dewele project is part of Dangote Group’s Vision 2030 strategy, under which the conglomerate plans to invest $50 billion across Africa in industrial and energy infrastructure.

Mr Dangote said the group’s objective was to support African countries in reducing dependence on imports and increasing local production.

“Our vision is to support African countries in becoming self-sufficient in products for which they possess the raw materials, market demand, and strategic necessity,” he said.

The project further expands Dangote Group’s investments in Africa’s energy and industrial sectors, following the development of the Dangote Petroleum Refinery in Nigeria and other investments across the continent.


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Business

MTN Nigeria appoints ex-Etisalat boss, four other new directors

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MTN Nigeria Communications Plc has appointed five new directors to its board as part of efforts to strengthen its operations and support the company’s growth and strategic direction.

The appointees include former Etisalat Nigeria executives, Ibrahim Dikko and Boye Olusanya, who were appointed as independent non-executive directors to the board of the telecommunication company.

The telco giant also appointed corporate governance expert Fabian Ajogwu, Imoni Akpofure and Lwazi Bam as non-executive directors.

The appointments, which take effect from 1 December were disclosed in a regulatory filing signed by the company’s secretary, Uto Ukpanah, on Tuesday.

MTN Nigeria said the new directors were expected to bring their experience and expertise to strengthen the telco giant’s operations.

“The new Directors are expected to bring their wealth of experience and expertise to enhance Board operations and contribute to the Company’s growth and future direction,” MTN Nigeria said.

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Profiles

Mr Dikko brings more than three decades of experience spanning banking, telecommunications, information and communications technology, and regulatory advisory.

He served as chairman of First Securities Discount House Limited from 2002 to 2012 and was vice president of regulatory and corporate affairs at EMTS Limited, which operated as Etisalat Nigeria, from 2007 to 2017.

He holds a Bachelor of Laws degree from the University of Buckingham and a Master of Laws degree from Queen Mary and Westfield College, and University of London.

Mr Dikko is a Fellow of the Society of Corporate Governance Nigeria and a Member of the Institute of Directors, Nigeria.

Boye Olusanya

Mr Olusanya, who currently leads FMN Holdings Limited, has more than 25 years of executive leadership experience across the fast-moving consumer goods, agriculture, telecommunications, technology, energy, infrastructure and financial services sectors.

He has led the strategic transformation of FMN Holdings into a vertically integrated, consumer-focused food and agro-industrial business.

MTN Nigeria said Mr Olusanya’s experience includes enterprise transformation, business restructuring, strategic acquisitions, operational turnaround and regional expansion.

Fabian Ajogwu

Mr Ajogwu is a Senior Advocate of Nigeria and professor of corporate governance at Lagos Business School. He is also the senior partner at KENNA LP and has practised law for 35 years.

He assisted the Securities and Exchange Commission in drafting Nigeria’s first Code of Corporate Governance and served on the Financial Reporting Council of Nigeria committee that worked on the National Code of Corporate Governance 2018.

Mr Ajogwu is also the founder of the Society for Corporate Governance Nigeria and has authored several books on corporate governance.

He holds a PhD in Law from the University of Aberdeen, an MBA from IESE Business School in Barcelona and law degrees from the University of Nigeria and the University of Lagos.

Imoni Akpofure

Ms Akpofure brings nearly three decades of experience in finance, infrastructure and sustainability, particularly across Sub-Saharan Africa.

Her career includes senior roles at the International Finance Corporation, CDC Group, now known as British International Investment, and KINA Advisory.

She currently serves on the boards of Africa50 and the Development Bank of Nigeria, where she brings experience in infrastructure investment, sustainable growth and corporate governance.

Lwazi Bam

Mr Bam joined MTN Group as group chief risk officer in June. Before joining the telecommunications group, he served as chief executive officer of Deloitte Africa and Deloitte Southern Africa from 2012 to 2022.

READ ALSO: Access Holdings’ nine-month profit jumps 6% to N474.2 billion

During his nearly three decades at Deloitte, he also served on the firm’s Global Executive Committee and advised organisations on mergers and acquisitions, strategy, governance and risk oversight.

Between 2022 and 2026, he served as a non-executive director on the boards of Standard Bank Group and Valterra Platinum. He currently serves on the boards of Woolworths Holdings Limited and ZEDA Limited.

Mr Bam is a chartered accountant in South Africa and completed the Advanced Management Programme at Harvard Business School.

MTN Nigeria, one of Africa’s largest providers of communications services, connects over 94 million people in communities across the country.

Launched in 2001, the telco operates in 19 markets in Africa and the Middle East, serving over 300 million people.


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Business

Insurance Industry Set for 2026 Almond Awards November 6

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Excitement is building within Nigeria’s insurance industry as stakeholders prepare for the 2026 Almond Insurance Industry Awards, scheduled to hold on Friday, November 6, 2026, at the Stable Event Centre.

The highly anticipated annual event, organised by Almond Productions Limited, is expected to attract leading personalities, industry professionals and other distinguished guests from within and outside the insurance sector.

Preparations for this year’s edition have been ongoing for over six months, generating considerable interest across the insurance industry and beyond.

Speaking in a press release, the Head of the Awards Team and Chief Executive Officer of Almond Productions Limited, Ms. Faith Ughwode, said the organisers had gone above and beyond to ensure that guests enjoy a memorable experience.

According to her, the organisers have lined up some of the finest entertainers in the music and comedy industries to add excitement and glamour to the occasion.

The Almond Insurance Industry Awards is an annual platform dedicated to recognising and celebrating individuals and organisations whose contributions are making a significant difference in Nigeria’s insurance ecosystem.

The 2026 edition is expected to bring together key industry stakeholders and dignitaries for an evening of recognition, networking, entertainment and celebration of excellence in the insurance sector.

The event will be strictly black-tie, with guests expected to appear in formal evening attire.

Ms. Ughwode also emphasised that admission to the event would be strictly by ticket, urging prospective attendees to make the necessary arrangements ahead of the ceremony.

The post Insurance Industry Set for 2026 Almond Awards November 6 appeared first on Business Today NG.

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