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Dangote announces new appointments for strategic growth sustenance
In order to strengthen the group’s Executive management team and sustain its strategic business growth trajectory, Africa’s foremost indigenous conglomerate, Dangote Industries Limited (DIL) has announced new appointments.
In the new organizational rejig, Olakunle Alake the erstwhile Chief Operating Officer (COO) is now the Group Managing Director and Dr. Adenike Fajemirokun, the Group Chief Risk Officer has been elevated to the office of Group Executive Director, President’s Office, where she will take on new roles in addition to her schedule as the Risk Officer. She is the first ever female executive director in Dangote Group.
Adenike Fajemirokun, the Group Chief Risk Officer has been elevated to the office of Group Executive Director, President’s Office
The management also announced the appointment of Austine Ometoruwa as Group Executive Director, Corporate Finance and Treasury.
Earlier the Board of Dangote Cement Plc, global, announced the appointment of Cherie Blair and Mick Davies as Independent Non-Executive Directors.
President/Chief Executive, Dangote Group, Aliko Dangote, speaking on the new appointments said “it is exciting seeing a female occupy such a high position. We are gender sensitive and create equal opportunities for both male and female to get to the top.”
“The new appointments are to strengthen the Group’s executive management team and to consolidate on its strategic business growth trajectory”, he added.
Olakunle Alake, the erstwhile Chief Operating Officer (COO) is now the Group Managing Director
Alake has been the Chief Operating Officer of Dangote Industries Limited since 2007. He serves on the board of Dangote Sugar Refinery Plc, NASCON Allied Industries PLC, Dangote Cement PLC and Dangote Flour Mills PLC. Mr. Alake’s experience spans 34 years which covers banking, management consultancy and manufacturing industries.
He joined Dangote Group in July 1997 and served as its Financial Controller and Head of Strategic Services till 2001 when he was appointed to the board of Dangote Industries Limited as Executive Director/ Group Strategist.
Austine Ometoruwa, Group Executive Director, Corporate Finance and Treasury
He started his working career at PricewaterhouseCoopers, a firm of Chartered Accountants in September 1984 and left in 1990 to join Liberty Merchant Bank Limited as the Financial Controller for three years.
Between August 1993 and July 1997, Mr. Alake served as the Managing Director/Chief Executive Officer of Liberty Merchant Securities Limited and was part of the team that provided consultancy services for the smooth take-over of the International Trust Bank Plc, by Dangote Group in August 1996. He is a Fellow of the Institute of Chartered Accountants of Nigeria. Mr. Alake holds a Bachelor’s degree in Civil Engineering from Obafemi Awolowo University, Ile-Ife in 1983.
Dr. Fajemirokun, a consummate Risk Management & Insurance specialist has over 18 years diverse experience in developing and implementing risk management strategies in Financial, Engineering, Manufacturing and other industries.
She started her career with Ove Arup and Partners as a Fire Engineer where she was responsible for carrying out qualitative and quantitative risk assessment of various assets and developing risk assessment frameworks for quantifying identified risks.
She later joined Deutsche Bank AG, UK, and served in senior leadership roles such as Director and Global Head Operational Risk, Head of Transaction Management Group for leverage finance at the Corporate and Investment Bank. Prior to specializing in the Risk Management field, she held positions in finance as a front office quantitative analyst at Goldman Sachs London and New York.
Dr. Fajemirokun worked with First Bank of Nigeria where she developed the operational risk management framework for the bank as well as its Business Continuity Certification by the British Standard Institute. She also managed and tracked the firm’s risks across all directorates, transaction services and alternative investments.
Cherie Blair, Independent Non-Executive Director
In 2010, She founded and headed AFRisk Management Consultants Limited which developed the enterprise risk management frameworks for some of the country’s major institutions including Central Bank of Nigeria, First Bank Nigeria and First Bank Capital Plc.
She was appointed Chief Risk Officer of Dangote Group in 2013 and leads the Risk Management Functions for the Group and its various Businesses where she oversees the company’s governance model and enterprise risk program. She develops and manages processes to identify, assess, monitor and reduce risks that could interfere with the achievement of the company’s goals and objectives. She is also responsible for managing the Group’s Insurance, Procurement Portfolio and Logistics.
A holder of B.Eng. in Civil, Structural and Fire Engineering and a Ph.D. in Risk Informed Engineering both from the University of Manchester, UK, Dr. Fajemirokun is a Fellow of the Engineering and Physical Sciences Research Council (EPSRC) and Specialist member (SIRM) of the Global Institute of Risk Management. She is also a visiting professor at the University of Manchester, UK. She has been recognized globally for her work with the Operational Riskdata Exchange Association (ORX), Institute of Risk Management, UK. She is a member of the Lagos State Research and Innovation Council.
Ometoruwa is an accomplished international investment banker. Prior to joining the Dangote Group as the Group Executive Director, Corporate Finance and Treasury, Austine Ometoruwa provided advisory services to the Dangote Group over the past 25 years in his capacity as the Executive Chairman of his firm, Boston Trico Capital LLC.
He started his professional career as a credit analyst at Chase Manhattan Bank. He thereafter progressed to Bank of Boston as the General Manager in Nigeria before moving on to Standard Bank of South Africa (Stanbic) as Strategy Consultant.
Mr Ometoruwa was the first Nigerian appointed as Executive Director to the Board of Citibank Nigeria leading its West Africa investment banking and subsequently as CEO and Regional Director of Corporate & Investment Bank, Citibank Middle East North Africa (MENA) operating in Cairo, London & New York.
Mr Ometoruwa setup and launched the Africa Finance Corporation (AFC) as the founding President and CEO.
He was awarded the Dean’s Prize and First Class Honours Bachelor’s Degree in Banking and Finance from the University of Lagos, Lagos, Nigeria.
Cherie Blair CBE, QC is a leading barrister with over 35 years’ experience in arbitration, mediation, public international law, human rights, employment law and European Community law. She studied law at the London School of Economics (LSE) and graduated with a First Class Degree in 1975. While studying for her Bar examinations she also taught Law at the University of Westminster. Cherie came top of her year in her Bar examinations and was called to the Bar in 1976. She was appointed Queen’s Counsel (QC) in 1995.
In 2000, shortly before the implementation of the Human Rights Act, Cherie and 21 other prominent Barristers set up a ground breaking legal practice, Matrix Chambers. She has also argued cases in the House of Lords, one of the most well-known being the Begum case. She is an accredited Advanced Mediator under the ADR Chambers/Harvard Law Project and an Elite Mediator with Clerksroom.
Cherie Blair, has appeared in the European Court of Justice and in multiple Commonwealth jurisdictions and also lectures internationally. She is the Chancellor Emeritus and Honorary Fellow of Liverpool John Moores University; Governor Emeritus and Honorary Fellow of the LSE and the Open University (D.Univ.Open 1999); LLD (Hons), University of Liverpool (2003); Hon.D.Lit UMIST (2003); Doctor of Laws (Westminster University).
Cherie Blair is the Founder and Chair of Omnia Strategy where she focuses on strategic international legal and advisory work and practices as a barrister, representing over 30 governments as well as numerous multinational corporations in international disputes.
In 2012, she was designated to serve on the ICSID panel of arbitrators and is a panellist at the Kuala Lumpur Regional Centre for Arbitration. She continues to work independently, primarily as an arbitrator and mediator
Cherie is closely involved with various charities and is a strong advocate for women’s rights. She is the founder of the Cherie Blair Foundation for Women, which runs programmes to support women entrepreneurs across the developing world, including Africa. She is also Vice Chair of the International Council on Women’s Business Leadership founded by Secretary Hillary Clinton.
Cherie sits as an Honorary Chair of the World Justice Project. In 2007, she received the Eleanor Roosevelt Val-Kill medal in recognition of her high ideals and courageous actions.
In 2013, she was awarded the CBE in the New Year Honours for her services to women’s issues and to charity in the UK and overseas.
Cherie is also an active campaigner for prison reform and was ‘President of The Commission on English Prisons Today’ between 2007 and 2009, under the auspices of the Howard League for Penal Reform.
She is an adviser to “B Team,” a not-for-profit initiative formed by a global group of leaders, to be a driving force for social, environmental and economic benefit. She is wife of former British Prime Minister Tony Blair.
Sir Mick Davies is currently Chairman of Macsteel, a global trading shipping company, and Chief Executive of the Conservative party of the United Kingdom.
Davies has occupied several directorship positions. From 2001 to 2003, he was Chief Executive of Xstrata Plc, one of the world’s largest global diversified mining and metal companies; executive director and chief financial officer of Billiton Plc; Chairman of Billiton Coal and Executive Director of South African State-owned Eskom.
With extensive capital markets and corporate transaction experience, he has raised over US$40 billion from global capital markets and successfully completed over US$120 billion of corporate transactions. He participated in the creation of the lngwe Coal Corporation in South Africa; listing of Billiton on the London Stock Exchange; merger of BHP and Billiton into the largest diversified mining company in the world and the successful merger of Xstrata and Glencore amongst others.
Sir Davies is the immediate past President of the Council of Members and Chairman of the Board of Trustees of the Jewish Leadership Council in the United Kingdom, member of the Brookings International Advisory Council and a Trustee of the Institute of National Security Studies, Israel.
He is a Chartered Accountant by profession and an alumnus of Theodor Herzl School in Port Elizabeth. He holds an honours degree in Commerce from Rhodes University. South Africa, and an Honorary Doctorate from Bar llan University. In the 2015 Queen’s birthday Honour’s list, he was made a Knight’s Bachelor
The Minister-designate for Power, Joseph Olasunkanmi Tegbe, has firmly clarified that he never promised to fix Nigeria’s national electricity grid within three months, describing such claims circulating in sections of the media as a misrepresentation of his Senate screening remarks.
A statement issued after his appearance before the Senate stressed that Tegbe was deliberate and cautious in his presentation, avoiding unrealistic timelines while outlining a structured reform pathway for the power sector.
According to the clarification, Tegbe explained that while Nigerians can expect early signs of progress, particularly in grid stabilisation within his first 100 days in office, comprehensive reforms will be guided strictly by technical assessments, stakeholder consultations, and sector realities.
He noted that critical challenges such as gas supply constraints, metering gaps, infrastructure decay, and commercial inefficiencies require coordinated interventions that cannot be resolved through arbitrary timelines.
“My commitment to this distinguished chamber and to Nigerians is clear: we will deliver visible and measurable improvement in the power sector,” Tegbe stated during the screening.
He assured that his focus would include stabilising the national grid, modernising transmission and distribution infrastructure, strengthening commercial frameworks, and enforcing accountability across the electricity value chain.
On tariff policy, the minister-designate reaffirmed that reforms would be carefully designed to balance sustainability with social protection, ensuring that vulnerable households are shielded while also restoring investor confidence in the sector.
The statement further emphasised that Tegbe’s approach reflects discipline, technical understanding, and a reform-minded agenda aimed at delivering lasting solutions rather than short-term political promises.
It added that he remains open to responsible media engagement and constructive clarification where necessary, noting that accurate reporting is essential to public understanding of ongoing efforts to reposition Nigeria’s power sector.
Tegbe reaffirmed his readiness to lead a transparent, results-driven reform process anchored on accountability, realism, and measurable progress.
A grand cultural renaissance celebrating the enduring legacy of legendary Yoruba war hero and statesman, Ogedengbe Agbogungboro, will take centre stage as the 2026 edition of Ogedengbe Fiesta holds from July 29 to 31 across Osun State and Ekiti State.
The three-day heritage festival, unveiled by organisers on Wednesday, is themed, “Ogedengbe Agbogungboro Legacy: Leadership, Security, and Statecraft for Modern Governance in Nigeria.”
The event is designed to preserve Yoruba cultural heritage, deepen historical consciousness, promote tourism and stimulate national conversations on leadership, peacebuilding and governance.
According to the organisers, the fiesta will commence with traditional homage at Atorin and heritage excursions to notable Kiriji War historical sites in Imesi-Ile, where participants will relive significant moments in Yoruba military and political history.
The programme will also feature guided visits to the historic Ogedengbe Cave, Ibu Latoosa Site and the Yoruba Peace Treaty Grove, all regarded as symbolic monuments of Yoruba resilience, diplomacy and unity.
As part of activities lined up for the celebration, participants will tour the gardens of renowned legal icon and elder statesman, Afe Babalola, in Okemesi-Ekiti.
The organisers further disclosed that a Legacy Awards and Hall of Fame Investiture ceremony would hold in Ilesa to honour individuals who have contributed immensely to the promotion of Yoruba culture, leadership and community development.
A distinguished personality lecture in honour of Aare Afe Babalola, SAN, OFR, CON, and Arole Fabunmi of Okemesi-Ekiti is also expected to headline the event, with scholars, traditional rulers, cultural enthusiasts and public intellectuals billed to discuss pathways to strengthening governance and security through indigenous values and historical lessons.
The organisers noted that all activities would commence daily by 11am, adding that the festival would serve as a rallying point for lovers of Yoruba culture, history and tourism across Nigeria and beyond.
They described the fiesta as not only a celebration of the heroic exploits of Ogedengbe Agbogungboro, but also a strategic platform to inspire a new generation of leaders through the ideals of courage, unity, patriotism and visionary leadership.
The Federal Government on Tuesday ruled out any plan to reinstate fuel subsidy despite worsening economic hardship and mounting public pressure.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, stated this in Paris, France, during a meeting with global investors alongside President Bola Tinubu.
Oyedele said the government would also not introduce price controls, stressing that market forces remain the preferred mechanism for determining petrol prices.
“We will not bring back fuel subsidy because it creates distortions for the economy, and we won’t introduce price control because we believe in the market,” he said.
The minister argued that the subsidy regime had long undermined economic efficiency, adding that emerging global energy shifts, including developments in Iran, present fresh investment opportunities for Nigeria.
The removal of petrol subsidy in May 2023 triggered a steep rise in inflation, worsening the country’s cost-of-living crisis.
Nigeria’s headline inflation climbed from 22.41 per cent in May 2023 to 34.19 per cent by June 2024 — its highest level in nearly two decades — driven by surging fuel, food, and transportation costs.
Food inflation further accelerated, exceeding 39 per cent by October 2024, while transport fares soared by nearly 300 per cent, compounded by currency devaluation.
Despite the economic strain, Tinubu defended the policy, saying it had stabilised the foreign exchange market.
“Subsidy that was a burden to the entire country was removed, and ever since we have achieved FX stability,” the President said, according to his Special Assistant on Social Media, Dada Olusegun.
In a related statement, the President’s Special Adviser on Information and Strategy, Bayo Onanuga, said the administration’s reforms were aimed at eliminating structural distortions, strengthening macroeconomic stability, and laying the foundation for inclusive growth.
He added that the government remained committed to fiscal discipline and transparency.
Highlighting economic progress, Oyedele disclosed that Nigeria recorded an 11.2 per cent growth in Gross Domestic Product in dollar terms in 2025, describing it as a major step towards the country’s ambition of building a $1tn economy by 2030.
He also pledged that the government would begin publishing quarterly financial reports to enhance accountability and public trust.
Also speaking, the Director-General of the Debt Management Office, Patience Oniha, assured investors of Nigeria’s commitment to prudent borrowing and sustainable debt management.
The Federal Government has continued to defend its reform agenda despite growing public discontent, insisting that the long-term gains will outweigh the current economic pains.
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