Salt company of Africa’s richest man registers $17-million revenue in Q1 2024
As the majority owner of NASCON, Dangote’s stake in the salt and seasoning processing company is worth over $74 million.
Nigerian billionaire
Nigerian billionaire Abdul Samad Rabiu’s food business records $261-million revenue in Q1 2024
Revenue growth was fueled by a significant increase in sugar sales. the strong performance expands its lead as Nigeria’s top food conglomerate.
Dangote’s half-brother Sayyu Dantata’s MRS tops $60 million in revenue in Q1 2024
Revenue for the first three months of 2024 climbed to N79.16 billion ($62.6 million), up from N30.78 billion ($23.83 million) in the prior-year period.
Cement company of Africa’s richest man doubles revenue to $659.3 million in Q1 2024
Group revenue from cement, clinker, and other products surged 100 percent year-over-year, reaching N817.35 billion ($659.3 million).
Dangote’s half-brother Sayyu Dantata’s oil firm mulls Nigerian Exchange exit
Following a successful delisting, the board intends to seek shareholder authorization to list the company’s shares on the NASD OTC Securities Exchange.
Nigerian mogul Abdul Samad Rabiu loses $1.2 billion as naira weakens against U.S. dollar
Ranked as Nigeria’s third-richest person and Africa’s sixth by Forbes, Rabiu has recently experienced a notable drop in his wealth figures.
Marketers anticipate Africa’s richest man Aliko Dangote to slash diesel price to less than $0.7 per liter
The Independent Petroleum Marketers Association of Nigeria (IPMAN) expects the Dangote refinery to reduce diesel prices further.
Nigerian tycoon Tony Elumelu-linked power company reports strong Q1 2024, revenue tops $60 million
Transcorp Power’s journey in Nigeria’s energy sector commenced in 2013 with the acquisition of the Ughelli Power Plant under the leadership of Elumelu.
Africa’s richest man Aliko Dangote’s refinery ramps up production with U.S. crude
The recent decision to ramp up operations, follows Dangote Refinery’s move to slash diesel prices in Nigeria, marking a substantial decrease from previous rates.
Nigerian billionaire Femi Otedola nears $2-billion net worth as naira strengthens
Otedola’s focus on operational efficiency across his portfolio has fueled earnings growth and valuations.
Dangote’s fortune rebounds above $17 billion as naira leads global currencies in April
Dangote remains Africa’s richest person and the world’s wealthiest Black billionaire. His net worth has surged past $17 billion.
Nigerian billionaire Abdul Samad Rabiu to receive $79.4 million from food business
The $79.4-million dividend which will be paid electronically into the bank accounts of Abdul Samad Rabiu and his son from the group’s 2023 earnings of $210.48 million, is part of a proposed cash distribution by the board of directors.
Africa’s richest person Aliko Dangote says diesel price cut could curb Nigeria’s inflation
By offering diesel at N1,200 ($1), below the market rate of N1,650 ($1.325), Dangote believes inflation will decrease.
Nigerian billionaire Femi Otedola’s power company rakes in $40-million revenue in Q1 2024
The remarkable feat follows the company’s strong financial performance in 2023, where revenue surpassed the $90 million mark
Publicly listed companies linked to Nigerian billionaire Femi Otedola are worth $12.9 billion combined
The market value of the publicly listed companies he holds stakes in has surged to N16.7 trillion ($12.9 billion), highlighting his impact not only on the firms he manages but also on those in which he holds significant ownership.
Forbes list shows Globacom founder Mike Adenuga as fifth richest in Africa
In recent times, his net worth has surged to $6.9 billion from $6.1 billion in 2023, solidifying his rank as Africa’s fifth-richest and Nigeria’s second wealthiest person.