Africa’s richest man Aliko Dangote’s refinery begins supplying fuel to local market
The Dangote Petrochemical Complex, located on a peninsula on the outskirts of Lagos, represents a significant leap in industrial advancement.
Nigeria
Femi Otedola returns to world’s billionaires list as global billionaire wealth hits $14.2 trillion
With Otedola’s return to the billionaire ranks, Africa now boasts 20 billionaires, up from 19 in 2023 and 18 in 2022.
Globacom founder Mike Adenuga’s net worth rebounds sharply, nearing $7 billion
Adenuga remains among the world’s 400 richest people and one of the top five wealthiest individuals in Africa.
Nigerian tycoon Tony Elumelu-linked power company posts revenue exceeding $100 million in 2023
The surge in the company’s revenue led to a significant 74.9-percent jump in profit, reaching N30.23 billion ($23.15 million) at the end of 2023.
Nigeria’s richest banker Jim Ovia’s stake in Zenith Bank grows by $20.4 million
This recent gain strengthens Ovia’s position as Nigeria’s wealthiest banker, underscoring his success as a leading figure in the financial services industry.
Late Nigerian banker Herbert Wigwe led Access Holdings to $451-million profit in 2023
While Wigwe’s leadership is sorely missed, his impact remains evident in the group’s record-breaking 2023 profits.
Nigerian billionaire Femi Otedola sees net worth jump to $1.7 billion
This surge is attributed to the strong performance of his diverse investment portfolio and a recent strengthening of the Nigerian naira against the U.S. dollar.
Africa’s richest man Aliko Dangote donates $11 million to fight hunger in Nigeria
His latest $11.02-million food intervention program underscores his unwavering commitment to improving lives and tackling social challenges in Nigeria.
Nigerian banker Jim Ovia’s Zenith Bank invests in Niteon to boost digital export infrastructure
Zenith Bank’s decision to invest in Niteon underscores its dedication to fostering economic growth and innovation across Africa.
Nigerian businessman Tony Elumelu awards $5-million seed capital to 1,000 African entrepreneurs
Each recipient is set to receive a $5,000 non-refundable seed capital to kickstart their entrepreneurial endeavors.
Greek tycoon John Coumantaros’ stake in Flour Mills of Nigeria tumbles below $70 million
Since Feb. 6, the market value of Coumantaros’ stake in the leading agro-allied group has plunged by $8.7 million, falling from $77.06 million to $68.36 million.
Africa’s richest man Aliko Dangote’s net worth hits $15 billion as naira rebounds to N1,400/$
Dangote’s financial resurgence reflects not only his vast fortune and investment portfolio but also the broader economic dynamics at play within Africa’s biggest economy.
Nigerian gambling magnate Kessington Adebutu makes $2.3 million from Wema Bank stake
This surge not only reaffirms Adebutu’s status as one of the wealthiest investors on the NGX but also underscores Wema Bank’s pivotal role in Nigeria’s financial landscape.
Adaora Umeoji emerges as first female CEO of Nigeria’s most profitable bank
Umeoji will ascend to the helm of the institution, taking over the reins of control from Ebenezer Onyeagwu, whose term as group managing director and CEO expires on May 31.
British-Nigerian entrepreneur Ladi Delano’s startup raises $100 million at $750 million valuation
Established in 2020 by Delano alongside Jide Odunsi, Moove has rapidly emerged as a key player in the mobility fintech sector.
Nigerian gas tycoon Julius Rone seeks investment for revolutionary FLNG project
The appeal for investment was made during a meeting between Rone’s management team at UTM Offshore and Felix Omatsola Ogbe, the executive secretary of NCDMB.