Business
Dangote Deepens Two-Decade India Ties with $5 Billion Opportunities as Refinery and Fertilizer Empires Expand
Africa’s richest man, Aliko Dangote, is strengthening a partnership with India that dates back to 2003.
He has announced over $5 billion in forthcoming business opportunities for Indian firms as he scales up his massive refinery and fertilizer operations.
In an exclusive interview with Business Today‘s Riddhima Bhatnagar, the Nigerian billionaire and President of Dangote Group described India and Africa as “natural partners” poised for explosive growth in sectors like mining, data centers, energy, and agriculture.
“Our dealings with Indian companies actually go back to 2003,” Dangote said, crediting firms like Engineers India Ltd. (EIL) for their pivotal role in his cement expansion and now mega-refinery projects.
The existing Dangote Refinery already sourced more than $2.5 billion in equipment from India, involving around 10,000 workers in fabrication and installation.
Looking ahead, Dangote revealed that within the next 18-20 months, upcoming expansions will open “$5 billion-plus” in orders for equipment, steel structures, and shipping—creating thousands of jobs in India.
The flagship Dangote Refinery in Lagos, already the world’s largest single-train facility at 650,000 barrels per day, is set for a major upgrade to 1.4 million barrels per day, positioning it among the lowest-cost refiners globally due to economies of scale.
“All African countries are importers [of fuel] with no exception,” Dangote noted, pointing out his goal to “domesticate Africa as our market” while exporting jet fuel to high-growth aviation markets in the U.S., Europe, and Latin America amid surging global aircraft orders.
On the fertilizer front, Dangote is ramping up production to transform African agriculture and ensure food security. With plans to make no African country short on supply, he aims to become a “supplier of choice” to India—the world’s largest urea consumer—leveraging competitive 30-35 day shipping from Nigeria.
“We are very confident about our quality,” he asserted, referencing past U.S. tariff removals after farmer advocacy.
This deepening Indo-African collaboration comes as Dangote Group marches toward its Vision 2030 target of $100 billion in annual revenue. For aspiring entrepreneurs, his advice is straightforward:
“Do what you know best and be very focused and resilient… Nothing is impossible.”
As South-South cooperation gains momentum, Dangote’s moves underscore Africa’s rising industrial prowess and the mutual benefits of partnerships with emerging giants like India—driving jobs, technology transfer, and sustainable development across continents.
Editor’s Note: Business Today, AfroTech, and Reuters contributed to this report.
Business
Ghana Nears Approval of Cannabis Licences as Country Prepares to Launch Regulated Industry
Accra, Ghana – Ghana’s Narcotics Control Commission (NACOC) is in the final stages of reviewing applications for cannabis licences, with successful applicants expected to receive approval to begin operations soon, marking a significant milestone in the country’s efforts to develop a legal and regulated cannabis sector.
Deputy Director-General for Enforcement, Control, and Elimination, Alexander Twum-Barimah, disclosed this while speaking at the Kwahu Business Forum on Saturday.
He emphasised that the review process has been “thorough and deliberate” to ensure that only applicants who fully meet all legal, regulatory, and security requirements are granted licences. NACOC officials engaged with potential investors at the forum’s exhibition stand, providing details on various licence categories, including cultivation, processing, distribution, and export.
Mr Twum-Barimah stressed that the commission is committed to building a properly regulated industry that creates legitimate economic opportunities while maintaining strict controls to prevent misuse and illegal activities.
“The goal is to strike a balance between enabling economic development and safeguarding public health and security,” he said.
All licence holders will be subject to ongoing monitoring and compliance checks.
The development signals Ghana’s intention to harness the economic potential of cannabis through job creation, investment, and export revenue, while aligning with international best practices in regulation. Further updates on the licensing process are expected in the coming weeks.
Business
3 Things Ghana is Doing to Reduce Fuel Prices Amid Global Uncertainty
Accra, Ghana – As global oil prices continue to surge due to the ongoing Middle East conflict, the Ghanaian government has announced immediate and practical measures aimed at cushioning citizens from the impact of rising fuel costs.
Following an emergency Cabinet session chaired by President John Dramani Mahama, the government outlined three key interventions focused on direct price relief, affordable public transportation, and cutting unnecessary government expenditure on fuel.
Here are the 3 major steps Ghana is taking:
1. Suspension of Selected Taxes and Margins on Fuel
Ministers of Finance and Energy have been directed to suspend certain taxes and margins in the next fuel pricing window. This temporary reduction, which will last for four weeks (subject to review based on developments in the Middle East and global crude prices), is expected to ease the burden on consumers and transporters.
2. Massive Expansion of Affordable Metro Mass Transit Buses
The Minister for Transport has been tasked with fast-tracking the deployment of 100 newly acquired Metro Mass Transit buses onto high-traffic routes across the country. These state-owned buses will maintain significantly lower fares compared to private operators, offering citizens a cheaper and more reliable alternative for daily commuting.
3. Strict Enforcement of Ban on Fuel Allocations for Government Officials
All Ministers and senior government appointees have been reminded to strictly comply with President Mahama’s earlier directive cancelling fuel allocations and allowances. This move is aimed at reducing government expenditure on fuel and demonstrating leadership in belt-tightening during these challenging times.
These interventions form part of the government’s broader strategy to protect the economy and citizens from external shocks while hoping for de-escalation in the Middle East conflict.
Business
Upcoming Super El Niño Threatens to Worsen Global Food Crisis Amid Iran Conflict
Climate scientists and food security experts are warning that a powerful “super El Niño” expected later in 2026 could significantly intensify global food price pressures already heightened by the ongoing Middle East conflict involving Iran.
According to US meteorologists, there is roughly a one-in-three chance of a strong El Niño forming between October and December, while European models suggest an even higher probability of an exceptionally strong event.
A “super El Niño” occurs when sea surface temperatures in the eastern Pacific rise at least 2°C above normal. This phenomenon typically triggers extreme weather patterns, including severe droughts in key agricultural regions, which can sharply reduce crop yields for commodities such as cocoa, rice, sugar, food oils, coffee, bananas, and soy.
The timing is particularly concerning because the Iran conflict has already disrupted global fertilizer supplies and shipping routes through the Strait of Hormuz, driving up costs for fuel and agricultural inputs. Analysts say the combination of war-induced supply shocks and El Niño-driven weather extremes could create a “double squeeze” on food production and prices. The United Nations World Food Program has cautioned that prolonged conflict and elevated oil prices could push the number of acutely food-insecure people globally significantly higher.
Dawid Heyl of Ninety One noted that while the Russia-Ukraine war affected food markets, the current situation is more worrying due to its direct impact on fertilizer production and availability.
He warned that overlapping negative factors — geopolitical disruption and strong El Niño conditions — could prove especially damaging for vulnerable countries in Africa, India, Australia, Brazil, and Argentina.
Experts state that long-term resilience will require greater investment in climate adaptation, diversified supply chains, and international cooperation to protect global food security as geopolitical and climate risks increasingly intersect.
-
Opinion16 hours agoOpen Letter to the British Ambassador on Reparatory Justice: Ghana’s Call to the British Government
-
Festivals & Events2 days agoCelebrating Black Voices in Fiction at the 2026 Black Girl Book Fair
-
Ghana News5 hours agoNewspaper Headlines Today: Wednesday, April 10, 2026
-
Ghana News2 days agoGhana Celebrates Link to NASA’s Historic Artemis II Lunar Mission Through Astronaut Christina Koch
-
Taste GH14 hours agoSmoke, Sweetness and Street Life: The Timeless Charm of Ghana’s Roasted Corn
-
Ghana News18 hours ago7 Dead, 2 Missing After Boat Capsizes on Volta Lake in Ghana
-
Taste GH2 days agoIvory Coast Roots, Ghanaian Soul: The Irresistible Rise of Akyeke and Tilapia
-
Business17 hours ago3 Things Ghana is Doing to Reduce Fuel Prices Amid Global Uncertainty
