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Why Jack Ma is retiring at 54 from Alibaba

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Alibaba co-founder and chairman Jack Ma plans to retire from the Chinese e-commerce giant on Monday to devote his time to philanthropy focused on education.

Ma was an English teacher before starting Alibaba in 1999 and built it into a multibillion-dollar internet colossus, becoming one of the world’s richest men and a revered figure in his homeland.

His own worth has soared along with that of the company, which was valued at $420.8 billion based on its share price at the close of trade on Friday.

Ma told The New York Times that he plans to step down from the company on Monday — his 54th birthday — referring to his departure as “the beginning of an era” rather than an end.

Ma, who gave up the title of CEO in 2013, said he now planned to devote his time and fortune to education.

The way he chose to make the announcement was unusual. The New York Times is blocked in China by Communist Party censors and there was no official statement from Alibaba on Saturday.

But in an interview with Bloomberg TV released on Friday, he hinted at his retirement plans, saying he wanted to follow in the footsteps of Microsoft founder Bill Gates, one of the world’s most prolific philanthropists.

“There’s a lot of things I can learn from Bill Gates. I can never be as rich, but one thing I can do better is to retire earlier,” he said.

“I think some day, and soon, I’ll go back to teaching,” he said, adding he had been preparing philanthropy plans at his eponymous foundation “for 10 years”.

Ma is part of a generation of billionaire entrepreneurs who made their fortunes as China embraced the digital age, creating some of the country’s largest and most successful companies in the space of little more than a decade.

Huge conglomerates like Alibaba, Tencent, Baidu and JD.com are to China what Facebook and Google are to the United States.

Ma is the first of his generation of uber-wealthy tech bosses to retire, a rare move in a country where business figures often run their empires well into their 80s — Hong Kong tycoon Li Ka-shing only retired in May at the age of 89.

Ma’s rags-to-riches story is particularly remarkable.

Born into a poor family in Hangzhou, eastern Zhejiang province, Ma became a university teacher but gave the job up after discovering the internet.

After being knocked back by US venture capitalists in 1999, a cash-strapped Ma persuaded friends to give him $60,000 to start Alibaba, which operated out of an apartment in Hangzhou.

“The first time I used the internet, I touched on the keyboard and I find ‘well, this is something I believe, it is something that is going to change the world and change China,’” Ma once told CNN.

The company, still headquartered in his hometown, initially allowed businesses to sell products to each other online but soon morphed into China’s largest online retail market.

It transformed how Chinese people shop and pay for things, especially through the now ubiquitous Alipay digital payment service.

The Alibaba empire now spans well beyond online retail and payments to include cloud computing, digital media and entertainment, with sterling revenue growth that jumped another 61 percent in the quarter ending June 30.

As he prepares to leave the company, Ma is among China’s richest men with a net worth estimated by Forbes at $38.6 billion.

Ma has inspired strong devotion among his employees and users, drawing comparisons with late Apple co-founder Steve Jobs — although he practised a more open management style.

A devotee of tai chi, he has made references to Chinese martial arts in both business strategy and corporate culture.

Porter Erisman, a former Alibaba employee who made a documentary about the firm, “Crocodile in the Yangtze,” said: “What Silicon Valley is known for, he embodies a lot of that with Chinese characteristics — that spirit of openness, risk-taking, innovation.”

Chinese state media have burnished his rags-to-riches story, saying his parents were poorly educated and his father depended on a monthly retirement allowance of just $40 to support the family.

Ma’s retirement comes after a torrid couple of weeks for his rival tech CEOs in China.

Richard Liu, the billionaire founder of Alibaba’s main competitor JD.com, was briefly arrested in the US over a rape allegation last week. He was released and returned to China, although the investigation remains active.

Meanwhile internet and gaming giant Tencent, an e-payment rival, has seen its profits and share price drop amid an apparent regulatory squeeze on the tech giant’s online gaming business.

Beijing has announced plans to regulate the country’s highly popular video game industry, including restrictions on the number of new releases to address concerns over children’s eyesight and gaming addiction.

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Nestoil: Lagos CP dragged to court for contempt, risks imprisonment

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This is certainly not a good time for the Lagos State Police Commissioner, Mr. Moshood Jimoh as he has been dragged to court for commiting contempt by defying a clear court order that he and his men must not go near the business premises of Nestoil Group which belongs to Drawcok Estates LTD.

The fresh suit by Drawcok Estates LTD followed Monday’s deployment of over fifty armed police officers by Mr. Moshood Jimoh to seal off the business premises of Nestoil Group which belongs to Drawcok Estates LTD despite an order by Justice Ofili Ajumogobia.

Also, despite a directive by the federal government that police escorts be withdrawn from VIPs, Mr. Moshood Jimoh illegally allocated several police officers to be guarding Mr. Sulu Gambari, the self-acclaimed Receiver Manager which was appointed by a former judge that was handling the case, Justice Isaac Dipeolu.

Recall that Justice Daniel Osiagor of the Federal High Court in Ikoyi vacated all the orders made by Justice Isaac Deinde Dipeolu who wrongly appointed the Receiver Manager.

Meanwhile, dissatisfied with the action of the Lagos Police Commissioner, Drawcok Estates LTD yesterday filed a case of contempt against the Lagos State Commissioner of Police, Mr. Olohundare Jimoh Moshood (Contemnor) before a Federal High Court in Abuja.

In Suit No: FHC/ABJ/CS/2385/2025, the applicant wants Police Commissioner Moshood Jimoh to be found guilty of contempt of court and also be committed to prison unless he obeys the directives contained in Justice Ofili Ajumogobia’s Order of November 24, 2025.

Recall that Justice Ofili Ajumogobia had on November 24, 2025 ordered that the building in question belongs to Drawcok Estates LTD, adding that no police officer must be seen carrying out orders of the Lagos State Police Commissioner around the premises.

The Orders made by Justice Ofili Ajumogobia on November 24, 2025 in suit number FHC/ABJ/CS/2385/2025 were that:

The applicant has a right to own and possess her properties as mentioned in the addresses above as guaranteed by the 34 Constitution of the Federal Republic of Nigeria, 1999 as amended and the African Charter on Human and People’s Rights..

That the sealing-off and occupation of the applicant’s properties on the addresses mentioned above by the Respondents constitute an infringement on the right of the applicant to own property, as guaranteed by Sections 43 and 44 of the he Constitution of the Federal Republic of Nigeria, 1999 as amended.

That the Respondents, whether by themselves , their agents, agencies and servants, acting for it through them or any other person(s) howsoever described or claiming through them, to vacate the applicant’s properties on the addresses mentioned above, and deliver possession over to the applicant forthwith.

That the Respondents, whether by themselves, their agents, agencies, and servants, acting for or through them or any other person(s) howsoever described or claiming through them, to provide security for the applicant to take back possession of her properties on the addresses mentioned above.

That the Respondents is restrain, whether by themselves, their agents, agencies and servants, acting for or through them or any other person(s) howsoever described or claiming through them, from harassing the applicant and refusing her access to her properties on the addresses mentioned above.

Nigerian Concord Newspapers reporters that visited the business premises yesterday reported that pollice officers have been denying workers of several companies access to their offices located within the Nestoil building in Lagos on the order of Moshood Jimoh, despite a subsisting court order directing that they be allowed into the premises.

The affected workers had resumed duties following a court order delivered by Hon. Justice Ofili Ajumogobia of the Federal High Court, Abuja on November 24, which directed that they be granted access to their offices.

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Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down

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By: Fabian Apechihin

The Dangote Petroleum Refinery has ramped up fuel exports to international markets amid widespread refinery shutdowns in the Middle East, industry sources confirmed.

A senior official at the $20bn Lagos-based plant told The PUNCH that the facility exported significant volumes of petrol (PMS), diesel (AGO), and aviation fuel (Jet A1) to foreign buyers in August, following earlier shipments in June and July.

The surge comes as Saudi Aramco and other regional producers face heavy maintenance schedules, tightening fuel supply. Aramco has already shut down two plants and plans further closures, including its 460,000 b/d Satorp refinery in Jubail for a 60-day turnaround in November–December. Kuwait and India are also scaling back capacity for maintenance and seasonal demand.

According to Argus Media, these shutdowns are pushing Gulf nations to import record volumes of gasoline, with Saudi Arabia and the UAE sharply increasing purchases from Europe and other markets in recent months.

While some reports pointed to operational constraints at Dangote’s 650,000 b/d facility, the company dismissed such claims, insisting production is on track to reach 700,000 b/d by December. Earlier this year, Aliko Dangote announced the refinery had sold two cargoes of jet fuel to Saudi Aramco and recently achieved exports of about 1 million tonnes of petrol between June and July.

“With Gulf refiners offline, Nigeria has now emerged as a net exporter of refined products,” Dangote said.

Analysts suggest the extended refinery outages in the Middle East will further strengthen demand for Dangote’s output, positioning the Nigerian plant as a key supplier in regional fuel markets.


Would you like me to tighten this further into a 5–6 paragraph wire-style news brief, or keep it as a detailed feature-style report with more context on Gulf refinery shutdowns?

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US Oil Exports to Nigeria, Others Fall to 3.3m bpd as Local Output Rises

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By: Fabian Apechihin

The United States’ crude oil exports to Nigeria and other African countries fell for the fifth consecutive month in July 2025, averaging 3.3 million barrels per day (bpd), the lowest level since March 2022.

The Organisation of Petroleum Exporting Countries (OPEC) disclosed this in its August 2025 Monthly Oil Market Report (MOMR), attributing the decline to weaker flows to Europe and Africa, particularly Nigeria, but without giving further details.

Industry analysts link the slowdown to the ramp-up of local refining capacity, especially the 650,000 bpd Dangote Refinery, which has reduced Nigeria’s reliance on imported crude, including from the US. Vanguard checks also show that crude importation has slowed further in recent months due to improved domestic production.

According to OPEC data, Nigeria’s crude oil output—excluding condensates—rose by 11 per cent year-on-year to 1.559 million bpd in July 2025, up from 1.386 million bpd in the same period of 2024. This marks the country’s highest monthly production level so far this year.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) corroborated the figures, stating that overall output, including condensates, exceeded 1.8 million bpd in July.

Gbenga Komolafe, Chief Executive of the NUPRC, said the milestone was achieved through the agency’s “Project 1 MMBOPD Incremental” initiative, supported by a multi-stakeholder collaborative framework.

“We are glad to report that we crossed the 1.8 million bpd mark on peak production last month, with average production hovering at 1.78 million bpd,” Komolafe stated.

He added that the Commission is working to sustain production growth by optimising the Maximum Efficient Rate (MER) framework, improving produced water management, and aligning operational shutdowns and maintenance schedules to minimise disruptions.

“With these measures and continued collaboration, the presidential mandate on production increase is well within reach,” he said.


Do you want me to make this rewrite more concise for a newspaper front-page brief or keep it detailed like a full energy market report?

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