The Dangote Group has announced the appointment of renowned economist and former Central Bank of Nigeria (CBN) Director, Dr. Mahmud Hassan, as its new Group Chief Economist.

The appointment, announced in a statement on Monday, aims to bolster the Group’s economic advisory capacity, particularly amidst the current environment of high global and domestic market volatility.

In his new capacity, Dr. Hassan will report directly to the President of the Group, Aliko Dangote, and will serve as the Group’s principal advisor on economic strategy, market trends, and policy implications across the conglomerate’s diverse interests.

Dr. Hassan brings over 30 years of extensive experience in economic policy formulation, financial sector regulation, and central banking.

His career at the CBN included key senior positions such as:

Director of the Trade and Exchange Department

Director of the Monetary Policy Department
Secretary to the Monetary Policy Committee (MPC)

Special Assistant on Economic Policy and Research to the CBN Governor
Dr. Hassan is highly credentialed, holding a PhD in Economics and an MSc in Energy Economics and Policy from the University of Surrey in the United Kingdom, alongside a BSc in Economics from Ahmadu Bello University, Zaria.

He is also an alumnus of the Harvard Kennedy School and holds professional certifications as a Bank Examiner and AML/CFT Analyst.

Beyond his corporate roles, Dr. Hassan has played a key part in regional economic integration, serving as a lead consultant to the African Union Commission on trade integration and the establishment of the African Monetary Fund.

He also continues to serve as a visiting professor at several Nigerian universities and is the current President of the Nigerian Association for Energy Economics.

Food price increases, driven by year-end festivities demand and insecurity challenges, emerged as the major driver of inflationary pressure in November 2025, pushing the month-on-month (MoM) headline inflation rate to 1.22 per cent, its highest level in four months, with analysts projecting a similar trend in December.

The Rural Electrification Agency and the National Bureau of Statistics have entered into a strategic partnership to conduct a comprehensive National Energy Survey aimed at strengthening data-driven planning in Nigeria’s power and energy sector.

The partnership was sealed through a Memorandum of Understanding signed in Abuja by Managing Director and Chief Executive Officer of the REA, Dr. Abba Aliyu, and Statistician-General of the Federation and Chief Executive Officer of the NBS, Prince Adeyemi Adeniran .

A statement issued by the REA on Tuesday disclosed that the survey will be conducted using the globally recognised Multi-Tier Tracking Framework and implemented under the Energy Sector Management Assistance Programme of the World Bank.

According to the agency, the initiative is designed to generate high-quality and analytical energy data that will support evidence-based policymaking, programme design, and investment decisions across Nigeria’s electricity value chain.

The statement read, “The Rural Electrification Agency and the National Bureau of Statistics have signed a Memorandum of Understanding to collaborate on the conduct of a comprehensive National Energy Survey using the Multi-Tier Tracking Framework in Nigeria.

“The MoU formalises a strategic partnership between the two Federal Government agencies to provide mutual collaboration and technical support for the survey, which is being implemented under the Energy Sector Management Assistance Program of the World Bank.

“The initiative is designed to generate high-quality, analytical data to support evidence-based planning and policy formulation in Nigeria’s power and energy sector.”

Speaking at the signing ceremony, Aliyu said the collaboration underscored the agency’s commitment to data-driven rural electrification and sustainable energy access.

“This collaboration will provide granular, credible data on electricity access, affordability, and off-grid energy solutions across Nigeria. The findings will directly inform national electrification initiatives such as the National Electrification Strategy and Implementation Plan, while also strengthening investor confidence in the sector,” he said.

He explained that the outcome of the survey would directly inform national electrification initiatives, including the National Electrification Strategy and Implementation Plan, while also boosting investor confidence in the power sector.

“As we work towards universal energy access, accurate data remains critical to prioritising interventions, targeting underserved communities and attracting private capital into the sector,” Aliyu added.

On his part, Adeniran emphasised the role of robust statistical standards in national development planning, noting that the NBS would ensure the credibility and reliability of the survey results.

“NBS is pleased to provide technical oversight, sampling expertise, and quality assurance to ensure that the survey adheres to global best practices,” he said.

“Reliable data is fundamental to effective policy formulation and sustainable development, particularly in a sector as critical as energy,” Adeniran stated.

Under the terms of the MoU, both agencies will collaborate to assess energy access at the household, community, enterprise, and public institution levels using the Multi-Tier Framework.

The survey will also examine household energy affordability, expenditure patterns, and willingness to pay for both grid-connected and off-grid solutions, while analysing access to and usage of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions.

The REA will serve as a key implementation and policy partner, providing sector expertise, stakeholder engagement, public awareness, and alignment with Nigeria’s rural electrification priorities.

Meanwhile, the NBS will be responsible for regulatory approvals, sampling frames, methodological validation, technical supervision, and capacity building for enumerators to ensure data quality and credibility.

The World Bank, through its Energy Sector Management Assistance Programme, will fund and provide technical oversight for the survey, while engaging a qualified survey firm to handle field data collection, analysis, and reporting.

It explained, “Under the MoU, the Parties will work together to: Assess energy access at household, community, enterprise, and public institution levels using the Multi-Tier Framework; Examine household energy affordability, expenditure patterns, and willingness to pay for grid and off-grid solutions;

“Analyse access to and usage of off-grid technologies, including solar home systems, mini-grids, and clean cooking solutions.

“REA will serve as a key implementation and policy partner, providing sectoral expertise, stakeholder engagement, public awareness, and alignment with Nigeria’s rural electrification priorities.

“NBS will provide regulatory approval, sampling frames, methodological validation, technical supervision, and capacity building for enumerators, ensuring data quality and credibility.”

The MoU is expected to remain in force for 18 months, with data generated from the exercise projected to support national energy planning, improve programme targeting, guide private sector investments, and accelerate Nigeria’s transition towards universal access to electricity and clean cooking solutions.

The collaboration comes against the backdrop of Nigeria’s long-standing electricity access gap, particularly in rural and underserved communities, where millions of households still lack reliable power despite ongoing reforms and investment initiatives.

The availability of credible, up-to-date energy data remains a critical constraint to effective planning and sustainable investment in the sector.

The partnership, therefore, signals the Federal Government’s renewed push to strengthen inter-agency collaboration, improve the availability of reliable energy statistics, and advance inclusive and sustainable electrification nationwide.