Meet Nigeria’s young real estate multimillionaires
Across Nigeria, a new generation of real estate developers is turning concrete and land into the country’s next fortunes.
Central and West Africa
Nigeria’s second-richest man gifts $250,000 lecture theatre to Adamawa University
Billionaire Abdul Samad Rabiu, founder of ASR Africa and chairman of BUA Group, has funded a 500-seat lecture theatre at Adamawa State University for ₦350 million (US$241,379), extending his structured philanthropy in Nigeria’s tertiary sector.
Nigerian oil tycoon Tein Jack-Rich urges Africa to bankroll its own energy future
Nigerian oil executive Tein Jack-Rich has called for African governments and investors to use the continent’s gas reserves, demographics and market size to build an energy system that is less exposed to foreign capital and imported fuel.
Nigerian tycoon Solomon Onafowokan opens Africa’s largest fibre-optic cable plant
Coleman Technical Industries chairman Asiwaju Solomon Onafowokan has launched a massive fibre-optic cable factory in Sagamu, boosting Nigeria’s digital-economy capacity and reducing dependence on imported network infrastructure.
6 businesses owned by Nigerian multimillionaire Kashim Shettima Bukar
From banking to aviation and oil logistics, Nigerian businessman Kashim Shettima Bukar has built the Barbedos Group into a multi-sector empire.
Nigerian magnate Aderemi Makanjuola’s Caverton Offshore trims losses to $3.13 million, turns cash positive
After a sharp drop in revenue, Caverton Offshore Support Group Plc delivered a markedly reduced loss in its Q3 2025 interim results, under the leadership of founder-chairman Aderemi Makanjuola.
Nigerian billionaire Kola Karim says Nigeria should chase 5 million barrels of oil a day by 2030
Shoreline Group chairman Kola Karim has urged government to lift its oil ambition to 5 million barrels a day by 2030, arguing that security, financing and contract fixes can unlock brownfield and deepwater barrels far above today’s output.
Femi Otedola donates $2.8 million for Augustine University engineering block
Billionaire Femi Otedola has committed ₦4 billion to build a new electrical and electronics engineering block at Augustine University, reinforcing his role as the institution’s largest private benefactor.
Nigerian banking and private aviation mogul Atedo Peterside calls for electoral reform
Anap Foundation’s Atedo Peterside says Nigeria’s election manager must face tougher disclosure rules and time-bound audits, arguing courts have “failed woefully” and investor confidence is at risk.
Seplat co-founder ABC Orjiako faces $220 million judgment in BVI court
A British Virgin Islands judge granted Access Bank a US$220 million summary judgment against Seplat co-founder ABC Orjiako, piercing offshore structures tied to historic oil-sector debts.
Nigerian billionaire Arthur Eze faces backlash in Liberian parliament over oil deal
Liberian MPs have urged colleagues to reject production-sharing deals with Arthur Eze’s Atlas Oranto, citing a chequered record and opaque terms. The Boakai administration says the agreements will revive offshore exploration.
Nigerian businessman Ernest Azudialu faces $1 billion debt fight as banks seize Nestoil
A Lagos court has placed Nestoil under receivership in a debt dispute exceeding $1bn, thrusting founder Ernest Azudialu-Obiejesi into the spotlight as banks move to seize assets and police seal the firm’s Victoria Island headquarters.
Nigeria's NIPCO, controlled by Indian billionaire Ramesh Kansagra, acquires 19% of Savannah Energy
NIPCO Plc, controlled by the wealthy Kansagra family via Purebond, is acquiring about 19% of London-listed Savannah Energy.
Dangote to expand refinery to 1.4 million barrels a day, eyes $55 billion in annual revenue
Aliko Dangote plans to double the capacity of his Lagos refinery to 1.4 million barrels a day, aiming to make it a global refining leader. The billionaire also reaffirmed plans to list shares on the NGX and promised steady fuel supply during the festive season.
Nigerian tycoons Ladi Jadesimi and Adegbite Falade gain $25.7 million as Aradel stock rallies 25 percent
A one-week surge in Aradel’s share price added $25.7 million to the fortunes of founder Ladi Jadesimi and CEO Adegbite Falade. Rising output, fresh deals and a steadier oil market helped drive the rally.
Femi Otedola sells $6.25 million in Geregu shares
Billionaire investor Femi Otedola has sold 9.04 million shares in Geregu Power Plc through his investment vehicle Amperion Power, in a ₦9.29 billion ($6.25 million) deal that trims his controlling stake but keeps him firmly in charge.