RismadarVoice Reporters
November 2, 2026
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has urged Lotus Capital Limited to pursue more ambitious investments in Nigeria’s production sectors as the company marks its 20th anniversary.
Speaking at the anniversary celebration in Lagos, Dangote challenged the non-interest financial institution to take what he described as “elephant steps” over the next two decades by expanding financing for manufacturing, agriculture, infrastructure, energy and industrial development.
He said Nigeria required stronger financial institutions capable of mobilising long-term capital to support businesses, industrial expansion and economic growth.
Dangote identified trust and integrity as essential foundations for attracting investment, stressing that investors must have confidence in those entrusted with managing their resources.
He commended Lotus Capital’s Managing Director, Hajara Adeola, for establishing and sustaining the institution despite the challenges associated with introducing non-interest finance to Nigeria.
The industrialist, whose family was among the company’s early major clients, also advocated stronger partnerships with international financial institutions to attract Sharia-compliant investment into Nigeria and other African markets.
He maintained that non-interest finance could complement conventional banking by providing alternative funding arrangements for productive economic activities.
Speaking at the event, Adeola said Lotus Capital was established 20 years ago to promote financial inclusion and provide investment opportunities consistent with religious and ethical values.
She disclosed that the company had established four Securities and Exchange Commission-registered public mutual funds and collaborated with the Nigerian Exchange to develop the NGX Lotus Islamic Index.
According to her, Lotus Capital also advised the Federal Government on its first three sovereign Sukuk issuances, which helped finance road and bridge infrastructure across Nigeria.
Adeola said the company would deepen its involvement in agriculture, manufacturing, real estate and renewable energy through innovative financing arrangements and partnerships with businesses.
She added that the non-interest finance industry had expanded considerably, with more financial institutions and investment products now available to Nigerian investors.
Also speaking, Lotus Capital Chairman, Fola Adeola, recalled the uncertainty surrounding the company’s establishment when Islamic finance was relatively unfamiliar in the country.
He said the company’s first investment product, the Halal Fund, attracted subscriptions exceeding its initial ₦1 billion fundraising target.
Adeola described the response as an early indication of investor interest in financial products aligned with ethical and religious principles.
The anniversary celebration highlighted Lotus Capital’s contributions to Nigeria’s non-interest finance industry and its plans to expand financing for businesses and infrastructure development.
