Tinubu, Buhari, Shettima, Atiku, Obi, Govs, Others Mourn Business Mogul, Dantata

*Dantata was part of a family of traders and merchants who built the famous groundnut pyramids of the First Republic

Deji Elumoye, Chuks Okocha, Folalumi Alaran in Abuja, and Ahmad Sorondinki in Kano

President Bola Tinubu; former President Muhammadu Buhari; Vice President Kashim Shettima; former Vice President Atiku Abubakar; former Senate President, David Mark; Kano State Governor, Abba Kabir Yusuf yesterday mourned an elder statesman, renowned business mogul and philanthropist, Alhaji Aminu Dantata, who passed away at 94 in the early hours of yesterday in Abu Dhabi, United Arab Emirates.

 The Northern States Governors’ Forum (NSGF); presidential candidate of the Labour Party (LP) in the 2023 general election, Mr. Peter Obi; former National Chairman of the All Progressives Congress (APC) and ex-governor of Kano State, Dr. Abdullahi Umar Ganduje; Chairperson of the National Caretaker Committee of the Labour Party, Senator Nenadi Usman; and a Coalition of Northern Groups (CNG) have also expressed their condolences on the passing of the business icon.

The late Dantata was an uncle to Africa’s richest man, Alhaji Aliko Dangote.

In a statement signed by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, the president described Dantata’s death as a monumental national loss.

“With the death of Alhaji Dantata today, we lost a prominent business mogul, patriot, and elder statesman who contributed significantly to the growth and development of our nation,” Tinubu stated.

Tinubu praised his sterling contributions to Nigeria’s economic growth and development.

The president eulogised Dantata for his public-spirited philanthropy, which touched lives, especially in education and healthcare delivery.

He recalled his relationship with the late mogul, describing his wise counsel and support as deeply encouraging and beneficial.

“Alhaji Dantata will be remembered for his industry, diligence, steadfastness, and great commitment to national unity through his many business ventures and philanthropic activities that touched countless lives of Nigerians,” the president declared.

On his part, former President, Buhari described him as a “visionary leader” whose legacy will endure for generations.

In a statement released by his media aide, Garba Shehu, Buhari said Dantata “leaves behind a monumental legacy in philanthropy and entrepreneurship that reshaped the lives of people and business settings in the country and beyond.”

Buhari extolled Dantata’s far-reaching influence in business, Islamic education, healthcare, and rural development, calling his contributions “inspirational” across national and international spheres.

Reflecting personally on their relationship, Buhari remarked, “I will always cherish my interactions with him.”

Also, in his condolence message, Vice President Shettima expressed deep grief over the passing of Dantata, saying the nation has lost an irreplaceable institution.
Shettima described him as “a living bridge that connected us to our past.

“We have not just lost a leader; we have lost an irreplaceable institution,” the Vice President said, describing Dantata as “one of the greatest titans in Nigeria’s philosophical history” whose departure marks the end of a vital chapter in the country’s economic and democratic evolution.

“In African tradition, when such an elderly person transitions, a vital chapter of our history departs with them. He was indeed among the great titans, a living bridge that connected us to our past,” Shettima added.

Former Vice President Atiku expressed sadness over the passing of Dantata, saying it “marks the end of an era”.

Reacting to the news via his X (formerly Twitter) account yesterday, Atiku described the death of late Dantata as a monumental loss to the nation.

Former Senate president, Mark, in a statement by his Special Adviser on Media, Paul Mumeh, expressed deep sorrow over the death of Dantata.

In a condolence message to the government and people of Kano State, Mark described the late Dantata as a man of impeccable character, whose life was marked by selfless service, humility, and unwavering commitment to humanity.

Kano State Governor, Yusuf, also expressed deep sorrow over the passing of Dantata, describing his demise as an immense loss to the state and the nation.
In a heartfelt condolence message issued by his spokesperson Mr. Sanusu Dawakin Tofa, the governor extended his sympathies to the immediate family of the deceased, the people of Kano, and Nigeria at large.

The governor hailed Alhaji Dantata as a towering figure whose lifetime of dedication, philanthropy, and investments greatly shaped the economic and social landscape of Kano.

Similarly, northern governors, under the aegis of NSGF, expressed deep sorrow over the death of Dantata, describing his passing as a significant loss to Nigeria.
The Chairperson of NSGF and Governor of Gombe State, Muhammadu Yahaya, who described the death as a national loss, said: “It is with profound sorrow and a deep sense of national loss that I, on behalf of the Northern States Governors’ Forum, mourn the passing of elder statesman and one of Africa’s most accomplished businessmen and philanthropists, Alhaji Aminu Alhassan Dantata.

“His demise marks the end of a remarkable era defined by enterprise, generosity, humility, and integrity,” he said.

On his part, Obi expressed his sadness over “the exit of a business mogul who changed the face of business in Northern Nigeria”.

The former governor of Anambra State described the late Dantata as “a humble man who was outstanding in leadership.”

In a separate statement by his Media office, Obi said:

”His humility, compassion, and simplicity, even in vast wealth, are virtues worth emulating. He uplifted not just Nigeria’s economy but the Nigerian people through his wisdom in commerce and his philanthropy.”

Similarly, Ganduje, in a statement signed by his Chief Press Secretary (CPS), Edwin Olofu, described the late Dantata as a pillar of commerce, philanthropy, and community development, whose legacy will continue to inspire generations to come.

On her part, the acting National Chairperson of LP, Senator Usman, in a condolence message, recalled that the late Dantata believed in mentorship and investment in human capital development.

She pointed out that the late businessman’s drive and foresight led to “the remarkable success of his nephew, Aliko Dangote, Africa’s wealthiest man, whose story continues to reflect the enduring impact of Alhaji Dantata’s belief in building people, not just businesses.”

Also, a northern group, CNG, has expressed profound sorrow over the passing of Dantata.

 In a statement, the National Coordinator of CNG, Jamilu Aliyu Charanchi, described the late Dantata as a pioneer whose contributions to Nigeria’s economic and social development were both foundational and transformative.

 Born on May 19, 1931, Dantata was the 15th of 17 children in a family with a storied history in commerce and enterprise.

He was the son of Alhassan Dantata, a legendary merchant who laid the foundation of a business empire that would span generations.

Aminu Dantata began his education at Dala Primary School in 1938 and completed his studies in 1949 through home education at a private school established by his father.

He joined the family business, Alhassan Dantata & Sons, in 1948 and quickly rose through the ranks, becoming the head of the company in 1960 after the death of his brother and former managing director, Ahmadu Dantata.

Under his leadership, the Dantata business empire expanded its interests across several industries, including construction, petroleum, finance, and manufacturing.

 He was the founder of Express Petroleum & Gas Company Ltd. and played a significant role in the establishment of Jaiz Bank, Nigeria’s first non-interest banking institution.

His influence extended to public service. In 1968, he was appointed Commissioner for Economic Development, Trade, and Industry in Kano State under Governor Audu Bako.

He also served on the board of the Nigerian Industrial Development Bank and was part of Nigeria’s first global economic mission after independence.
During Nigeria’s indigenisation policy era in the 1970s, Dantata’s companies acquired stakes in prominent firms, including Mentholatum, SCOA, Funtua Cotton Seed Crushing Company, and Raleigh Industries.

Dantata for Burial in Saudi Arabia, Kano Holds Absentia Funeral Prayer

Meanwhile, the funeral prayer in absentia (Salatul Ga’ib) was held yesterday in Kano for the late business mogul, Dantata.

The News Agency of Nigeria (NAN) reported that the prayer, held at the Umar Bin Khattab Mosque in the Kano metropolis, was led by Sheikh Ibrahim Khalil, Chairman of the Kano State Council of Ulamas.

Thousands of sympathisers, including prominent personalities such as the Deputy President of the Senate, Senator Barau Jibrin, attended the prayer to honour the memory of the deceased.

Speaking after the prayers, Khalil described the late Dantata as a devout Muslim, philanthropist, and community leader who lived a life of service and humility.
NAN also reported that “he is expected to be buried in Madina, Saudi Arabia, in accordance with family arrangements.”

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    With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months

    With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months

    ·                     NGX capitalisation jumps 41.4% to N88.77trn

    ·                     FX stability, bold reforms, corporate resilience fueling rally

    ·                     Analysts project market to cross N100trn mark before end of 2025

    Kayode Tokede

    With renewed confidence, the stock market has delivered a stunning performance, gaining N26.01 trillion in just eight months.

    Driven by strong investor appetite, bold policy shifts, and a wave of corporate resilience, the rally signals not just numbers on the trading board but a broader story of optimism and recovery.

    Specifically, the market capitalisation that opened 2025 at N62.763 trillion, gained N26.01 trillion or 41.43per cent in eight months to close yesterday, the last trading day in August at N88.769 trillion.

    Also, the Nigerian Exchange Limited All-Share Index (NGX ASI) closed yesterday, at 140,295.50 basis points, advancing by 37,369.10 basis points or 36.31 per cent year-to-date (YtD) from 102,926.40 basis points it closed for trading in 2024.

    Capital market analysts attributed the stock market N26.01 trillion growth to stability in the foreign exchange market, companies recovering from foreign exchange losses, market liquidity, capital inflow, dominance of domestic investors, increasing portfolio investment, Central Bank of Nigeria’s (CBN) banking sector recapitalisation, and insurance sector reforms. All these, they pointed out, have played  critical role in overall stock market appreciation in the growth so far in the first eight months of 2025.

    So far in 2025, the stock market has seen the Monetary Policy Committee of the CBN retaining interest rate at 27.50 per cent, inflation rate moving to 21.88 per cent as of July 2025 from 15.44per cent in December 2024, listing by introduction of Legend Internet Plc and banks announcing the outcome of fresh capital raising on the  Exchange.

    Also, yield on Nigerian Treasury Bills  (NTB) has dropped to 15.61 per cent as of July 2025 from  18.00 per cent. 

    In the eight months under review, several stocks listed on the NGX have recorded strong month-to-date appreciation, reflecting heightened foreign investor confidence driven by improved macroeconomic indicators and robust corporate earnings.

    THISDAY checks showed that out of the N88.769 trillion market capitalisation, BUA Foods Plc contributed 11.96 per cent when its market capiitalisation closed yesterday, at N10.62 trillion, followed by MTN Nigeria Communications Plc that contributed 10.3 per cent amid N9.13 trillion market capitalisation as of August 29, 2025. 

    The growth in BUA Foods stock price impacted on NGX Consumer Goods Index on the NGX to emerge as the best performing index, while the NGX Oil & Gas Index maintained its position as the worst performing index on NGX.

    As NGX Consumer Goods Index appreciated by 84.24per cent YtD, NGX Oil & Gas plummeted to -12.19 per cent in its YtD performance. 

    Capital market analysts noted that the corporate earnings reports of H1 2025, among other factors, encouraged investors seeking high returns in a volatile macro environment.

    The Managing Director, Globalview Capital Limited, Mr. Aruna Kebira in a chat with  THISDAY,  noted  that the  stock  market  in the eight months of 2025, benefitted from drop in inflation, among others.

    “The yields in the money market are not looking as attractive as they were in 2024, making discerning investors in search of better yields consider the capital market as their investment destination.

    “In the last MPC, the MPR was retained, including other metrics. This is sending positive signals that, as the inflation figure and money market yields are downward looking,  the MPC would have a reason to tinker the MPR downward. Which is not always fixed income friendly,” he added.

    He predicted that the stock market in  September 2025, would be hinged on the quality of the audited half year results and account of Zenith Bank Pl, among others.

    “If the various issuers demonstrate a performance higher than the corresponding period of 2024 and declare an impressive interim dividend, the stock  market will move to appreciate their prices.

    “I also see an improvement in the liquidity around the stock market arena, which will boost market participation and invite the bull into the market,” he added.

    For his part, the Managing Director and Chief Executive Officer, APT Securities and Funds Limited, Kasimu Garba Kurfi, projected that the market capitalisation was expected to surpass the N100 trillion mark by the end of 2025, buoyed by foreign exchange stability, strong corporate fundamentals, and increased primary market activities.

    Kurfi identified key drivers of the 2025 market rally, including the elimination of foreign exchange-related losses by companies.

    He pointed out that in 2024, listed firms posted pre-tax FX losses of N507.2 billion, up from N359 billion in 2023, representing a combined N867 billion in losses.

    “In 2025, we have seen zero FX losses due to exchange rate stability, and this has significantly boosted investor confidence,” he said.

    The APT Securities boss said the signing of the Nigerian Insurance Industry Reform Act (NIIRA 25) has triggered a rally in insurance stocks, while the CBN’s bank recapitalisation programme has revived the primary market, attracting over N2 trillion in 2024, with similar volumes anticipated in 2025.

    Capital market analysts noted that sustaining this momentum in the remaining of 2025 will depend on the continuation of stable and credible economic policies.

    The Vice President, Highcap Securities, David Adonri noted that the equities market so far in 2025 has witnessed massive interest in the recovering major stocks such as Airtel Africa, Nestle Nigeria Plc, Nigerian Breweries Plc, Cadbury Nigeria Plc, MTN Nigeria Communications Plc, and others which propelled the rally.

    In addition,  analysts at Cordros Research stated that, “We believe the domestic equities market might respond positively to the MPC’s decision to pause interest rate ikes as investors assess the likelihood of policy easing in the medium term.

     “We also expect to see some rotation into sectors positioned for expansion in a lower-rate environment, particularly the manufacturing sector, as lower financing costs, improved input cost dynamics, and stronger consumer demand enhance growth prospects, making the sector more attractive to investors

    The post With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months appeared first on THISDAYLIVE.

    ​  

    ·                     NGX capitalisation jumps 41.4% to N88.77trn ·                     FX stability, bold reforms, corporate resilience fueling rally ·                     Analysts project market to cross N100trn mark before end of 2025 Kayode Tokede With renewed confidence, the
    The post With Renewed Confidence, Stock Market Gains N26.01trn in Eight Months appeared first on THISDAYLIVE.

    Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin

    Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin

    ·Bala Mohammed: PDP considering former president, Obi for 2027 presidential ticket

    Chuks Okocha in Abuja

    Former President Goodluck Jonathan has denied reports suggesting that he has abandoned plans to contest the 2027 presidential election, describing the publication as false and misleading.

    Jonathan’s cousin, Azibaola Robert, who debunked the report in a statement on his verified Facebook page, however, declined to confirm if the former president has decided to contest in 2027.

    The denial followed a report that Jonathan had opted not to pursue a second-term ambition so as not to disrupt Southern unity ahead of the polls.

    Although the former president has not formally declared his candidacy, strong indications point to ongoing nationwide consultations with political stakeholders as part of moves to actualise a potential comeback bid.

    Azibaola, who faulted the news report, wrote: “The story is completely false. Former President Jonathan never said he would not contest in 2027. The so-called aide quoted in the publication does not exist.”

    The clarification comes amid growing speculation over Jonathan’s political future.

    While he has not officially announced his intention to run, his cousin stressed that he has equally not ruled himself out.

    “The former president has made it clear that he would not yield to calls not to run, since those making such admonitions had selfish motives,” Azibaola said, without disclosing when Jonathan might formally declare his ambition.

    Jonathan, who served as president between 2010 and 2015, remains a formidable figure in Nigeria’s political landscape.

    Meanwhile, Governor of Bauchi State, Bala Mohammed, has said the Peoples Democratic Party (PDP) is considering Jonathan or Peter Obi, ex-governor of Anambra, to possibly lead the party to the polls in 2027.

    His comment comes in the wake of the PDP’s decision to zone the 2027 presidential ticket to the South.

    On Wednesday, Abba Moro, Senator representing Benue South, said some individuals have been engaging with Jonathan and Obi over a potential return to the PDP.

    He also hinted that Obi could clinch the party’s presidential ticket in 2027 if he decides to return.

    Speaking during his appearance on national television, Mohammed said Jonathan remains “one of the most celebrated politicians today despite previous political blackmail against him” before the 2019 election.

    Mohammed, who is Chairman of the PDP Governors’ Forum, said Obi, who contested on the platform of the Labour Party (LP) in 2023, would be given a chance if he returns.

    “But certainly, President Jonathan is one of the candidates we are thinking of, if he joins us and opens his mind to run,” he said.

    “And even other people like Governor Obi, because if he decides to come to a better platform where there are no encumbrances, he will be given the opportunity too,” Bala said.

    Asked whether the PDP governors were engaging Obi ahead of the 2027 election, he replied: “Have you not seen him with me? He’s my brother, my friend.”

    “And of course, he’s one of the most celebrated politicians too. You see him within the coalition or no coalition. Definitely, we are not sleeping, only that we don’t make noise,” Mohammed added.

    He noted that other Southern politicians, including Seyi Makinde, Governor of Oyo State, are also free to contest the ticket.

    “There are so many politicians. I even had a session with Governor Amaechi. I have not been sleeping,” the Bauchi governor said.

    “I have to make sure I create a closing-of-rank for people to come and help.”

    When asked about the possibility of Rotimi Amaechi returning to the PDP, the Bauchi governor replied: “Well, he’s free if he wants to come back.”

    Mohammed also said the PDP lost the 2023 election because it failed to zone the presidential ticket to the South.

    The governor suggested that the party needs a Christian from the South to emerge as a presidential candidate, with a Muslim from the north as running mate

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    ​  

    ·Bala Mohammed: PDP considering former president, Obi for 2027 presidential ticket Chuks Okocha in Abuja Former President Goodluck Jonathan has denied reports suggesting that he has abandoned plans to contest the
    The post Jonathan Has Not Ruled Himself Out of 2027 Contest, Says Cousin appeared first on THISDAYLIVE.

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