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States kick as Senate moves to amend Electricity Act; read details

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A fresh battle over the control of Nigeria’s electricity sector is brewing, as state electricity regulators have accused the National Assembly of attempting to claw back powers already devolved to states under the Constitution and the Electricity Act 2023.

In a strongly worded memorandum submitted to the Senate Committee on Power and obtained by our correspondent on Tuesday, electricity regulatory commissions and bureaus from 16 states warned that the proposed Electricity Act (Amendment) Bill 2026 could reverse one of the most significant reforms in Nigeria’s power sector.

The regulators argued that the amendment bill, rather than strengthening the electricity market, seeks to restore extensive federal oversight over matters they insist have constitutionally become the responsibility of states.

The concerns were contained in a letter dated May 26, 2026, addressed to the Chairman of the Senate Committee on Power and signed on behalf of the State Electricity Regulatory Commissions and Bureaus.

Signatories to the document included the chairmen and chief executives of electricity regulators in Abia, Anambra, Bayelsa, Edo, Ekiti, Enugu, Gombe, Imo, Kogi, Lagos, Nasarawa, Niger, Ogun, Ondo, Oyo and Plateau states.

The regulators said they had taken advantage of the Electricity Act 2023 to begin building sub-national electricity markets and had already engaged investors based on the framework created by the law.

They noted that they had earlier met with the Senate committee and were subsequently requested to consolidate their concerns into a single memorandum for the consideration of lawmakers, the Nigerian Electricity Regulatory Commission and other stakeholders.

The letter stated, “We represent State Regulatory Commissions/Bureaus that have taken advantage of the Electricity Act 2023 to commence the development of our sub-national electricity markets and sectors.

We are grateful for the audience you granted us to raise concerns on the ongoing consideration of the proposed Amendment Bill 2026 to the Electricity Act 2023.

“As agreed during our discussion, we have collated and consolidated the comments into one document which is hereby attached for the consideration of the Senate and House Committees on Power, NERC and other stakeholders.”

The state electricity regulators said they had identified 17 contentious provisions in the proposed amendments to the Electricity Act that they believed could undermine the constitutional powers already granted to states in the electricity sector.

According to the regulators, the areas of disagreement include the authorisation of State Houses of Assembly to legislate on electricity matters, the supremacy of state laws within state electricity markets, and provisions seeking to retain federal control over all activities connected to the national grid.

Other disputed clauses relate to restrictions on states’ participation in the wholesale electricity market, matters concerning the Nigerian Wholesale Electricity Market, the authority of states over independent transmission and distribution networks, and the establishment and administration of the Power Consumers Assistance Fund.

The regulators also raised concerns over the proposed expansion of the powers of the Nigerian Electricity Management Services Agency, the structure and decisions of the Forum of Electricity Regulators, and the provision granting the Nigerian Electricity Regulatory Commission final administrative appellate jurisdiction on certain issues arising within the forum.

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They further opposed provisions designating electricity generation, transmission, distribution and supply as essential services, as well as clauses dealing with government-owned enterprises as licensees and obligations to host communities.

Additional areas of contention include the regulation of intra-state electricity matters that may have implications for the national grid, the imposition of timelines and phased conditions for states transitioning into independent electricity markets, and proposed federal oversight on consumer protection, anti-trust measures and tariff design within state electricity jurisdictions.

The regulators argued that the disputed provisions require further consultation to ensure that the decentralisation objectives of the Electricity Act are not weakened by subsequent amendments.

“A review of the Bill suggests that the general intention is to reverse the devolution of legislative, governance and regulatory powers over electricity matters that occur solely within the respective states to the state governments, in favour of a reconsolidation of powers at the federal level, with the Nigerian Electricity Regulatory Commission retaining full supervisory powers over the market. Effectively, it appears that the intention of the Bill is that Nigeria should continue with the same regime that, for 20 years, has not led to any significant increase in power availability or per capita consumption for Nigerians, despite ever-increasing (and unsustainable) federal debt.”

At the centre of the dispute is the interpretation of the constitutional amendments that allowed states to legislate on electricity matters within their territories. The regulators argued that the proposed amendment bill wrongly assumes that state legislatures derive their powers from the National Assembly rather than directly from the Constitution.

According to them, any attempt by the National Assembly to grant, restrict or redefine those powers through ordinary legislation would amount to a constitutional violation.

The memorandum stated, “Section 2 of the Bill aims to amend Section 2(2)(a)-(e) of the Principal Act. By that section, the National Assembly reserves to itself the power to delegate legislative powers to States’ Houses of Assembly, suggesting that the Bill (or the Principal Act) is the source of the powers of a state to make laws on its electricity markets.

“This provision is based on a shocking miscomprehension of Nigerian constitutional law—it proceeds from the wrong assumption that the NASS, by ordinary legislation and not constitutional amendment, can confer (or restrict) the legislative power of states.

“The constitutional division of powers is fundamental to federalism, ensuring a balance between national unity and state autonomy. There is no legal framework for the NASS to ‘empower’ state governments to make law by ordinary legislation, as the language of the Bill attempts to do.

“The constitutional division of powers is fundamental to federalism, ensuring a balance between national unity and state autonomy. There is no legal framework for the NASS to ‘empower’ state governments to make law by ordinary legislation, as the language of the Bill attempts to do. Consequently, Section 2 of the Bill, seeking to amend Section 2 of the Act, is not consistent with the Constitution.”

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The regulators described as “a shocking miscomprehension of Nigerian constitutional law” the provisions of the bill that appear to suggest that the National Assembly is the source of states’ authority over electricity matters.

They warned that the proposed law could undermine the principle of federalism by weakening state autonomy. Beyond constitutional concerns, the regulators said the bill could create uncertainty in the electricity market and discourage investors who had already committed resources based on the existing legal framework.

“The clear intention behind the new drafting is to reconsolidate in the Federal Government matters solely within the state electricity markets which had been devolved to the states,” the memorandum stated.

“This will defeat the key objectives of the Electricity Act and the various states’ electricity laws, even before the regime introduced by them has taken any root. It will introduce avoidable disruption in the industry as significant investment decisions have already been taken based on the Electricity Act 2023, and these investments are now put at risk by this proposed amendment.”

The state regulators specifically faulted provisions relating to federal oversight of activities connected to the national grid, restrictions on state authority over wholesale electricity transactions, the proposed expansion of NERC’s powers and changes affecting mini-grids and independent distribution systems.

They argued that allowing NERC to retain overriding authority over electricity activities merely because they have some connection to the national grid would effectively render state powers meaningless.

The memorandum stated, “What is required, in order to attain the full benefits of the decentralisation of the Nigerian Electricity Supply Industry that is the theme of the Fifth Alteration and provided for in the Principal Act, is proper coordination on transmission matters between NERC and state regulators, and not top-down federal legislation.”

The regulators also rejected provisions that would permit NERC to exercise final administrative appellate jurisdiction over disputes involving state electricity regulators. According to them, NERC and the SERCs are on equal standing within their respective constitutional spheres of authority.

“NERC and the SERCs are on equal standing within their respective constitutional spheres of authority,” the memorandum said. “The National Assembly cannot arrogate to NERC quasi-judicial authority over SERCs, especially where the dispute might be on a matter over which NERC has no authority.”

They further argued that the Constitution already vests judicial powers in the courts and that such responsibilities cannot be transferred to a regulatory agency. The proposed establishment of a Forum of Electricity Regulators also drew criticism.

Although the regulators acknowledged the importance of coordination among electricity regulators, they argued that participation in such arrangements should be voluntary rather than imposed through federal legislation.

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“The better approach would be a Memorandum of Understanding or similar instrument jointly negotiated by all relevant regulatory bodies in which the principles of coordination and harmonisation will be agreed,” they said.

The state regulators equally opposed provisions declaring generation, transmission, distribution and supply of electricity as essential services covering both federal and state electricity markets.

According to them, such provisions could inadvertently expand NERC’s jurisdiction into areas already devolved to states, including tariff regulation. “The provision is invidious, regressive and should be expunged,” the memorandum stated.

The regulators also faulted proposals empowering NERC to determine contributions to the Power Consumers Assistance Fund from electricity consumers. They argued that since electricity tariffs and retail supply have become matters for state regulation, decisions relating to subsidies and customer contributions should similarly reside with state authorities.

Other contentious areas identified by the regulators included host community obligations, the role of the Nigerian Electricity Management Services Agency, licensing arrangements involving government-owned electricity enterprises and timelines for states transitioning into independent electricity markets.

The dispute highlights the growing tension between the Federal Government and states over the future structure of Nigeria’s electricity industry. The Electricity Act 2023 was enacted following the Fifth Alteration to the 1999 Constitution, which removed electricity from the Exclusive Legislative List and empowered states to generate, transmit and distribute electricity within their territories.

Since then, several states have enacted electricity laws and established regulatory agencies to oversee emerging sub-national electricity markets. Lagos, Enugu, Ekiti, Ondo, Edo and other states have already commenced varying stages of implementation of their electricity reform programmes.

Energy experts have repeatedly described the decentralisation of the sector as a major opportunity to attract investment, improve efficiency and expand access to electricity. However, the latest amendment proposals appear to have reopened the debate over how regulatory powers should be shared between Abuja and the states.

As the National Assembly continues deliberations on the amendment bill, the position adopted by lawmakers could shape the future direction of Nigeria’s electricity reforms and determine whether the country deepens its experiment with decentralisation or returns to a more centralised regulatory model.

The Electricity Act 2023 was designed to operationalise the constitutional amendments that empowered states to participate directly in electricity generation, transmission and distribution within their boundaries. Since its enactment, several states have passed their own electricity laws and established regulatory commissions.

The proposed Electricity Act (Amendment) Bill 2026 seeks to amend several provisions of the principal legislation. However, state regulators contend that some of the proposed changes amount to an attempt to reverse the gains of decentralisation and restore broad federal control over the Nigerian Electricity Supply Industry.

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Lawmakers oppose dollar billing for local petrol sales

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The House of Representatives has commenced moves to address mounting concerns in Nigeria’s downstream petroleum sector, opposing the continued imposition of US dollar-denominated charges on locally refined petroleum products and announcing plans to investigate alleged irregularities in the allocation of fuel import licences.

The House Committee on Petroleum Resources (Downstream) disclosed this on Tuesday during an interactive session with key industry stakeholders, including the Independent Petroleum Marketers Association of Nigeria, the Depot and Petroleum Products Marketers Association of Nigeria, and the Major Energies Marketers Association of Nigeria.

The engagement forms part of the committee’s ongoing consultations on proposed amendments to the Petroleum Industry Act and broader reforms aimed at strengthening domestic refining, guaranteeing national energy security and ensuring a competitive downstream petroleum market.

The Chairman of the committee, Ikenga Ugochinyere, said the lawmakers would invite the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Ports Authority, the Central Bank of Nigeria, refiners and other relevant agencies to respond to issues raised by industry operators.

“We’ll be meeting with the NMDPRA, NUPRC, the refiners—both modular refinery owners and the large refinery operators—as well as the NPA, the CBN and other relevant agencies on the issues that have been raised. These will form part of our downstream reforms, including proposed amendments to the Petroleum Industry Act and legislative motions to correct identified gaps,” Ugochinyere said.

The lawmaker expressed concern over the continued charging of port fees in U.S. dollars for petroleum products refined and transported within Nigeria, describing the practice as detrimental to the economy.

“We have taken special note of the issue of dollar-denominated charges by the Nigerian Ports Authority. It is not good for the economy that, at a time like this, people involved in domestic downstream activities are still being charged in dollars. That ultimately affects the pump price of Premium Motor Spirit,” he said.

Ugochinyere also pledged to investigate allegations that fuel import licences for the first three quarters of 2026 were issued to the same group of marketers.

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“We have also taken note of what you said about the lopsidedness in the issuance of import licences, where allocations for the first, second and third quarters went to the same set of operators. We will raise these questions when the NMDPRA appears before the committee to explain the criteria used in issuing those licences,” he added.

The committee chairman stressed the need to strike a balance between protecting Nigeria’s expanding domestic refining capacity and preserving the investments of marketers who have built storage and distribution infrastructure over several decades.

“How do we encourage and protect owners of domestic refineries while also protecting the investments of marketers? We cannot continue importing the same volume of petroleum products as before, given that more refineries are coming on stream. At the same time, we must guarantee national energy security in case local refineries experience disruptions.

“We need a balanced framework that supports domestic refining, preserves healthy competition and ensures the country always has a reliable fuel supply. That is the direction this committee is pursuing,” he said.

Presenting DAPPMAN’s memorandum, the association’s Executive Secretary, Mr Olufemi Adewole, urged lawmakers to address what he described as structural distortions affecting petroleum marketers and depot operators.

According to him, at least 72 of Nigeria’s 154 licensed petroleum depots recorded little or no trading activity over the past year because of what he described as an uneven operating environment.

“From the records of the NMDPRA, not fewer than 72 of the 154 depots nationwide had no regular or consistent trading activity in the last one year. They are merely paying salaries without engaging in meaningful business. This is largely due to an uneven playing field, persistent trading losses and the inability to access alternative sources of supply,” he said.

While welcoming the commencement of operations at the Dangote Refinery, Adewole warned against what he described as a near-monopoly in the supply of PMS.

“Our experience has been one of mixed feelings, bordering on an almost total monopoly in the supply of PMS by the mega refinery. Although the Petroleum Industry Act provides for a fully deregulated market where prices are determined by market forces, that has not been our experience,” he said.

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The association also accused the NMDPRA of allocating import permits repeatedly to the same group of marketers. “The same set of marketers received import allocations in the first, second and third quarters of 2026, as though other qualified operators do not exist. This is unacceptable, and we urge this committee to ensure greater transparency and fairness in future allocations,” Adewole said.

DAPPMAN argued that retaining the option of fuel imports remains necessary to prevent shortages during refinery maintenance, operational disruptions or logistics challenges.

“In order to avoid the return of fuel queues, the import option provided under the Petroleum Industry Act must remain available as a regulated contingency mechanism whenever domestic supply is insufficient,” he said.

The association also decried what it described as duplicated port charges and the continued billing of domestic petroleum transactions in foreign currency.

“Marketers are invoiced at the loading point and again at the discharge port for products moved entirely within Nigeria. More critically, certain charges are still imposed in US dollars despite the purely domestic nature of these transactions. This practice persists despite a presidential directive suspending foreign currency-denominated billing for local operations. We urge the committee to ensure compliance,” Adewole added.

DAPPMAN further called for accelerated dredging of major waterways, rehabilitation of pipelines and depots, improved rail transportation for petroleum products and the creation of a national downstream logistics master plan.

IPMAN National President, Abubakar Shettima, commended the Federal Government for encouraging private investment in refining but said marketers continue to grapple with high financing costs, multiple taxation, foreign exchange volatility, inadequate storage infrastructure and limited access to refinery products.

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He called for policies that would support domestic refining while preserving competition. “We support strengthening domestic refining, but we also need equitable access to locally refined petroleum products, affordable financing and reduced regulatory costs that ultimately increase pump prices,” he said.

Shettima proposed the establishment of a specialised Petroleum Bank to provide single-digit interest loans to operators. “Today, marketers borrow from commercial banks at interest rates of up to 32 per cent. Those costs are eventually passed on to consumers. We are proposing a Petroleum Bank that will provide single-digit interest loans, similar to what exists in the agriculture and industrial sectors,” he said.

He also urged multinational oil companies involved in fuel importation to invest in local refining. “Before now, we depended almost entirely on imported petroleum products. Today, Nigeria is exporting refined products. Multinational companies should invest in domestic refineries to complement the existing capacity rather than relying solely on imports,” he added.

On the future of Nigeria’s state-owned refineries, Shettima suggested that independent marketers be allowed to participate in their management.

“If independent marketers are allowed to participate in operating the government refineries, we believe we can contribute significantly to their revival. We have done it before. Independent marketers invested in what is today NIPCO, which has become one of Nigeria’s leading petroleum marketing companies,” he said.

The committee’s consultations come as Nigeria seeks to consolidate gains from recent reforms in the downstream petroleum sector following the implementation of the Petroleum Industry Act and the expansion of domestic refining capacity.

Lawmakers are expected to engage regulators, refiners, NNPC Limited and other stakeholders before proposing legislative measures aimed at creating a more competitive, transparent and sustainable petroleum market while safeguarding the country’s long-term energy security.

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Nigeria tops Africa in petrol price surge during US-Iran war

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Nigeria recorded the sharpest increase in petrol price across Africa during the first half of 2026, with pump prices surging by 39.5 per cent as the Middle East conflict disrupted global crude oil supplies and exposed the country’s vulnerability to external market shocks despite growing domestic refining capacity.

The disclosure was contained in the Nigeria Half-Year Downstream Industry Report (January–June 2026) released on Tuesday by the Major Energies Marketers Association of Nigeria.

According to the report, the conflict involving Israel, Iran and the United States, which began on February 28, 2026, triggered widespread uncertainty in global oil markets, sending crude oil prices above $100 per barrel and sharply increasing the cost of transporting petroleum products worldwide.

The report explained that the temporary disruption of shipping through the Strait of Hormuz forced oil tankers to abandon the traditional route and sail around the Cape of Good Hope, more than doubling voyage time from about 18 days to nearly 40 days.

MEMAN stated, “During the first half of 2026, severe geopolitical tensions in the Middle East sparked immediate supply anxieties, injecting a heavy risk premium that drove international crude benchmarks past $100/bbl.

“This price surge was quickly compounded as the conflict bottlenecked traffic through the Strait of Hormuz, forcing maritime oil tankers to reroute around the Cape of Good Hope and stretching what is typically an 18-day voyage into a nearly 40-day journey.”

The association said Nigeria’s deregulated petrol market transmitted the global price shock directly to consumers, making the country the hardest hit in Africa.

It said, “Operating under a newly deregulated system, Nigeria experienced an immediate price transmission at the pumps. Data from the height of the crisis revealed that Nigeria recorded a 39.5 per cent gasoline price surge, the sharpest increase across Africa, more than doubling the price jumps seen in regional peers like Egypt (14.3 per cent).”

Despite the sharp rise in prices, the report said the period also marked a significant turning point in Nigeria’s downstream petroleum industry as local refining displaced imported fuel at an unprecedented pace.

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According to MEMAN, the expansion of the Dangote Petroleum Refinery significantly reduced Nigeria’s dependence on imported Premium Motor Spirit.

The report stated, “Against the backdrop of this intense price shock, the downstream sector achieved a significant structural shift away from import dependence toward domestic refinery supply, driven primarily by the operational scale-up of the Dangote Refinery, which by the review period accounted for the majority of local PMS supply.”

It added, “Premium Motor Spirit (PMS) local refining share expanded from 38.9 per cent in 2025 to 81.7 per cent over the review period. Concurrently, local units met an average of 64 per cent of diesel demand, while domestic gas processing facilities captured 90.5 per cent of the cooking gas market.”

However, the association warned that increased domestic refining had yet to eliminate Nigeria’s dependence on imported petroleum products. According to the report, local refinery production remained below national demand during critical periods between February and April, forcing regulators to approve fuel imports to prevent shortages.

MEMAN said, “However, the charts also highlight that domestic production alone was still structurally unable to fully bridge national demand, especially during peak periods. This supply-to-consumption deficit became visually evident between February and April, when the national consumption curve systematically crossed above domestic refinery output lines.”

It added, “To prevent severe product stockouts and stabilize the grid, the regulatory framework actively intervened by issuing refined product import licenses to selected marketers, a hybrid supply approach that successfully buffered fuel security during the worst of the international logistical shocks.”

The report further revealed that marketers drastically reduced fuel inventories because of soaring replacement costs, leading to a sharp decline in Nigeria’s strategic fuel reserves.

According to MEMAN, “The high-cost, volatile open-market environment forced aggressive realignments in inventory management across the value chain, as marketers optimized liquidity by drawing down physical buffers rather than holding expensive static wet stocks.”

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It added, “This structural shift caused national PMS stock sufficiency to drop progressively from 33 days in January to a low of 16 days by May, falling drastically short of the statutory 30-day safety benchmark, before recovering to roughly 20 days in June as licensed imports began filtering into the system.”

The marketers warned that the rapid depletion of fuel reserves highlighted the need for government-backed strategic petroleum reserves to cushion future global supply disruptions.

The report stated, “The rapid depletion of refined sufficiency days during the global shipping crisis underscored Nigeria’s lack of a resilient buffer, prioritizing the urgent downstream requirement to establish robust, state-backed Strategic Product Reserves and a dedicated Crude Oil Feedstock Reserve to insulate domestic refineries and consumers from sudden external supply chain closures.”

MEMAN also disclosed that persistently high fuel prices forced consumers to cut back on fuel purchases. It stated, “Furthermore, sustained open-market pricing triggered strong consumer demand elasticity, reducing average daily consumption by 22.3 per cent for PMS and 17.5 per cent for AGO.”

The association maintained that while Nigeria’s downstream reforms were beginning to yield results through higher domestic refining capacity, effective regulation would remain essential to sustain competition and protect consumers.

It added, “As domestic refining expands and the downstream sector evolves, sustained regulatory vigilance will remain essential to fostering fair competition, protecting consumers, strengthening investor confidence, and ensuring that the benefits of ongoing reforms are realised across the entire petroleum value chain.”

Under a section titled “Impact of the Middle East Conflict – Strait of Hormuz,” MEMAN said the conflict fundamentally altered global petroleum trade routes after the strategic waterway became temporarily inaccessible.

The report explained that suppliers increasingly shifted cargoes from the Persian Gulf to the U.S. Gulf Coast and West Africa as shipping companies sought safer alternative routes.

According to MEMAN, “The start of the conflict in the Middle East on 28th February 2026 and the subsequent temporary closure of the Strait of Hormuz significantly reshaped global crude oil and petroleum product trade flows during the first half of the year. Under normal market conditions, the Gulf serves as the primary export hub for refined petroleum products moving to Europe, Asia and parts of Africa.”

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It continued, “However, with access through the Strait severely restricted, cargoes were rerouted to alternative supply sources, particularly from the U.S. Gulf Coast and West Africa. The longer sailing distances, coupled with higher freight and insurance costs, increased delivered product costs and placed additional pressure on global shipping capacity.”

MEMAN further stated, “Under normal conditions, some Gulf-origin cargoes could reach key Asian markets in approximately 18 days via the Strait of Hormuz; however, rerouting around longer alternative routes extended voyage times to nearly 40 days, significantly delaying supply flows and increasing logistical costs. The disruptions reinforced the importance of diversified refining centers and demonstrated the growing strategic role of Atlantic Basin suppliers in maintaining global product availability during supply shocks.”

The first half of 2026 was one of the most volatile periods for Nigeria’s downstream petroleum sector since the full deregulation of the petrol market. Pump prices became fully responsive to movements in international crude oil prices, foreign exchange fluctuations, freight costs and supply chain disruptions following the removal of petrol subsidies.

Although the operational expansion of the 700,000-barrels-per-day Dangote Petroleum Refinery substantially reduced Nigeria’s reliance on imported petrol during the review period, local refining capacity was still insufficient to meet peak national demand, prompting the Nigerian Midstream and Downstream Petroleum Regulatory Authority to approve imports by selected marketers to maintain energy security.

The report underscores the opportunities and challenges of Nigeria’s transition to a market-driven downstream sector, where increased domestic refining has strengthened supply resilience but global geopolitical events continue to exert a significant influence on domestic fuel prices.

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Dangote to donate one-third of wealth to charity, daughter reveals

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Africa’s richest man, Aliko Dangote, plans to donate one-third of his wealth to charity as part of his succession plan, his daughter, Halima Dangote, has revealed.

Halima, a trustee of the Aliko Dangote Foundation, disclosed the arrangement in an interview with Bloomberg published on Tuesday, saying the billionaire had secured his family’s support to dedicate 33 per cent of his estate to philanthropy.

According to the Bloomberg Billionaires Index, Dangote’s net worth is estimated at $35.1 billion, meaning one-third of his current fortune would amount to about $11.7 billion if maintained at that level.

Explaining the decision, Halima said her father considers philanthropy central to his legacy and has embedded it into the family’s long-term succession plans.

“He sort of put all the structure in place whereby we focus a lot on health and education. He actually donated 25 per cent to the foundation. If you look at it, it is what we call in Sharia Code in Islam; it means he has donated 33 per cent of his whole inheritance to his foundation,” she said.

“That is how important it is to him because philanthropy needs to be in existence generation after generation.

“So giving back is part and parcel of what we do. We believe we’re here, that our business is successful because of the giving back and because of the philanthropic aspect. That is why the 33 per cent is important.

“And that is why he made an announcement and he asked myself, my two sisters and his mother to sign under that will that he is able to give that 33 per cent to humanity.”

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The planned donation builds on Dangote’s existing philanthropic work through the Aliko Dangote Foundation, established in 1994.

According to Halima, the foundation was endowed with $1.25 billion about a decade ago and has since received an additional $700 million in funding.

She said about 70 per cent of the foundation’s spending is directed to Nigeria, while 20 per cent supports projects across Africa and the remainder funds initiatives in other parts of the world.

The foundation’s interventions span health, education, nutrition and humanitarian relief, and include partnerships with the Bill & Melinda Gates Foundation and state governments in northern Nigeria that contributed to the eradication of wild poliovirus in Africa.

Dangote’s planned charitable commitment comes amid growing global attention on billionaire philanthropy. While the proposed 33 per cent allocation falls short of the 50 per cent threshold commonly associated with the Giving Pledge, it would rank among the largest philanthropic commitments ever announced by an African billionaire.

Earlier this year, TIME magazine named Dangote among the world’s most influential philanthropists in its inaugural TIME100 Philanthropy list, recognising his charitable work through the Aliko Dangote Foundation, which spends more than ₦50 billion annually on programmes across Africa.

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