Nigerian billionaire Solomon Onafowokan's Coleman spent $20 million generating its own power
Coleman has spent more than $20 million on gas-fired power generation while paying $8.70 per unit for gas, its managing director said.
Nigerian billionaires
Nigerian billionaire Femi Otedola's First HoldCo stake crosses $1.2 billion at record N140
Otedola's 11.96 billion First HoldCo shares are worth about $1.2 billion after the stock hit a record N140 on Thursday.
Nigerian billionaire Aliko Dangote's refinery seeks $5 billion in Africa's biggest share sale
Dangote's refinery aims to raise $5 billion in an October listing, with exchanges in Kenya, South Africa, Egypt, Ghana and Rwanda seeking a role.
Nigerian tycoon David Olurin's Cardinal Torch is betting $4.5 million that Nigeria can stop exporting raw cashews
David Olurin's Cardinal Torch is building a $4.5 million cashew plant at Sagamu, chasing the processing income Nigeria currently exports to Vietnam and India.
Nigerian tycoon Tunji Olowolafe funds West Africa's first eye surgery simulator in wife's memory
Tunji Olowolafe's foundation has opened West Africa's first ophthalmic surgical simulation centre in Lagos, named after his late wife Gbemisola Olowolafe.
Nigerian billionaire Aliko Dangote commits $800 million to double his Itori cement plant
Aliko Dangote has signed an $800 million agreement with China's Sinoma to double capacity at his Itori cement plant in Ogun State to 12 million tonnes.
Nigerian billionaire Abdul Samad Rabiu is building 120 homes for junior soldiers
Nigerian billionaire Abdul Samad Rabiu is privately funding 120 homes for junior Nigerian Army personnel, a ₦2 billion project now 85 percent complete.
Nigerian tech entrepreneur Olugbenga Agboola's Flutterwave is acquiring an East African bank
Flutterwave is acquiring an undisclosed bank in East Africa as Olugbenga Agboola builds a banking arm around the company's payments business.
Billionaire Femi Otedola's First HoldCo to pay out 60% of profit as dividends
First HoldCo will pay out at least 60% of profit as dividends, a policy worth roughly ₦83 billion to chairman Femi Otedola on half-year earnings.
Nigerian billionaire Mike Adenuga's Conoil lifts half-year profit 472% as margins widen
Conoil lifted half-year profit 472% to ₦5.15 billion, yet paid ₦8.29 billion in finance costs, more than the company earned before tax.
Nigerian billionaire Victor Odili to pocket $19.9 million MTN interim dividend
Victor Odili's 5.08% stake in MTN Nigeria will earn ₦27.69 billion from the ₦26 interim dividend, on a holding now worth about $657 million.
Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.
Nigerian billionaire Rasheed Sarumi's Presco sees profit falls 20% to $23.8 million in second quarter
Presco's second-quarter profit fell 20% to ₦33 billion as revenue declined, with earnings per share dropping to ₦28 from ₦41 a year earlier.
Nigerian billionaire Aliko Dangote's cement sales rose 22% last quarter, profit just 4%
Dangote Cement lifted half-year profit 24% to ₦640.2 billion, but second-quarter profit growth slowed to 4.4% even as revenue rose 22.2%.
Nigerian billionaire Aliko Dangote pitches Cameroon fuel terminal to reach landlocked Central Africa
Nigerian billionaire Aliko Dangote has proposed a fuel storage terminal in Cameroon to serve landlocked Chad and Central African Republic.
France looks to Nigerian billionaire Mike Adenuga to fund its Abuja cultural institute
France is in talks with Nigerian billionaire Mike Adenuga over funding a new Institut Français in Abuja, where Macron will lay the foundation stone.