Adenuga’s firm, six others get approval to distribute fuel from Aliko Dangote’s refinery
The marketers have registered for the lifting and distribution of refined petroleum products.
Nigerian billionaire
Nigerian businessman Tony Elumelu gains $14 million from UBA stake
Tony Elumelu, with his 7.39-percent stake in UBA, equivalent to 2,527,372,285 shares, stands out as one of the Nigerian Exchange’s most affluent investors
Greek tycoon John Coumantaros gains $13.4 million from Flour Mills stake
Coumantaros, the chairman of Flour Mills also ranked as one of the richest investors on the Nigerian Exchange, holds a substantial 63.34-percent stake in Flour Mills.
Blackrock acquires Nigerian billionaire Adebayo Ogunlesi’s GIP for $12.5 billion
Under the leadership of Ogunlesi, GIP has flourished into the world’s largest independent infrastructure manager.
Dangote back as Africa’s richest man as Forbes adds billion-dollar fertilizer plant to fortune
The Dangote Fertilizer Plant, launched in March 2022, was conceived as part of an ambitious initiative to meet Nigeria’s 1.5 million-tonne annual fertilizer demand.
Nigerian billionaire Femi Otedola reclaims spot on Forbes rich list with $1.2-billion fortune
This is the third time in the last 15 years that Otedola is being listed as one of the world’s richest people.
Mike Adenuga becomes Nigeria’s second-richest man as Forbes revalues Globacom
His net worth now stands at $7.4 billion — solidifying his position as a top figure in Africa’s business landscape.
Led by pan-African billionaire Benedict Peters, Aiteo unveils plans for new oil pipeline
This revelation follows the recent collaboration between Nigeria’s state-owned Nigerian National Petroleum Corporation (NNPC) and Aiteo Eastern E&P Company.
Nigerian billionaire Femi Otedola donates $1.1 million to boost Lagos State security
The significant contribution follows a series of philanthropic endeavors and is earmarked to bolster security initiatives within the state.
Refinery owned by Africa’s richest man prepares for test runs as sixth batch of crude arrives
The latest delivery, consisting of one million Agbami barrels of crude, marks the completion of the 6-million-barrel consignment to be utilized in the start-up phase.
Nigeria’s richest banker Jim Ovia’s Zenith Bank shares surge by $25 million 8 days
This surge firmly cements Ovia’s status as Nigeria’s wealthiest banker.
Nigerian billionaire Aliko Dangote gains over $100 million in first week of 2024
The surge is credited to the robust performance of his diversified investment portfolio on the Nigerian Exchange (NGX).
Mega-refinery of world’s richest Black billionaire welcomes fourth crude shipment
This delivery follows three previous shipments in December 2023.
Nigeria’s second-richest man Abdul Samad Rabiu lost $1.8 billion in 2023
Starting 2023 with a net worth of $7.5 billion, Rabiu faced a $1.8-billion wealth decline due to the Central Bank’s implementation of a free float policy.
This Week In Review: A Snapshot of African Wealth Dynamics — Peters Expands Global Footprint, Mauritius Sees Passing of Legend (Dec. 25 to 29)
From Peters’ ace move in Mozambique to Johann Rupert’s claim of the title of Africa’s richest man, it has been an interesting week in African wealth.
Johann Rupert reemerges as Africa’s richest man in latest Forbes ranking
While Forbes positions Rupert as the richest man in Africa, with a net worth of $10.2 billion, Bloomberg’s estimations paint a different picture.