Wale Tinubu’s Oando partners with U.S. firm to boost renewable power in Nigeria
Wale Tinubu, a top figure in the Nigerian energy sector, owns an indirect stake in Oando Plc through his 66.67 percent stake in OODP.
Nigerian businessman
Nigerian businessman Tony Elumelu rakes in $12 million in 31 days from UBA
Elumelu owns a 7.39-percent stake in UBA, equivalent to 2,527,372,285 ordinary shares in the leading lender.
Richest Nigerian banker Jim Ovia’s stake in Zenith Bank declines by $32 million
Ovia, a key figure in the evolution and digital transformation of Nigeria’s banking industry, founded Zenith Bank in 1990.
Nigerian businessman Tony Elumelu gains $5 million in three weeks from UBA
Elumelu, with his 7.17-percent stake in UBA, equivalent to 2,450,603,739 ordinary shares, ranks as one of the wealthiest individuals in the country.
Gilbert Chagoury: Controversial billionaire awarded contract to construct Lagos-Calabar Coastal Highway
Back in 1971, Gilbert Chagoury and his younger brother, Ronald Chagoury, set the stage for their remarkable journey by founding the Chagoury Group.
Nigerian energy tycoon Wale Tinubu gains $40 million from Oando stake
Tinubu, a towering figure in the Nigerian energy industry, who owns 66.67 percent of Ocean and Oil Development Partners (OODP), has an indirect stake in Oando.
Nigeria’s second-richest man Abdul Samad Rabiu rejoins world’s 500 richest billionaires
This surge in wealth has firmly positioned Rabiu as the 500th richest individual globally, just behind the 499th-ranked Charles Dolan.
Burna Boy to earn up to $1 million as headliner for Uganda’s new stadium opening
Burna Boy, known for his electrifying performances, has become a sought-after international act, commanding fees ranging from $700,000 to $1 million.
Nigerian business mogul Ernest Azudialu-Obiejesi orders $76-million luxury jet
Azudialu-Obiejesi’s decision to procure the G-700 aircraft underscores his commitment to building a world-class energy conglomerate.
Bank led by Nigerian tycoon Tony Elumelu, posts $512-million half-year profit
UBA, under the astute guidance of Elumelu, recorded a 437.8-percent surge in its profits in the first half of 2023.
Nigerian businessman Tony Elumelu loses $3.2 million in 11 days from UBA stake
Despite this substantial loss, Elumelu retains his status as one of the wealthiest investors in the local bourse.
5 companies owned by Nigerian energy magnate Austin Avuru
Billionaires.Africa has cataloged companies owned by and linked to Avuru. Here are five companies under his direct or indirect ownership.
Nigeria’s richest banker, Jim Ovia’s gains $17 million in a single week from Zenith Bank stake
Ovia owns a 16.2-percent stake in Zenith Bank, which translates to a total of 5,072,104,311 ordinary shares.
One of Nigeria’s richest bankers, Herbert Wigwe rakes in $2.7 million in 19 days
Wigwe holds a substantial 9.09-percent stake in the lender, equating to 3,230,789,014 ordinary shares.
Nigerian oil tycoon Wale Tinubu’s Oando to acquire Italian-owned NAOC
Tinubu emphasized that this announcement underscores the indispensable role played by indigenous companies in Nigeria’s upstream sector.
Tony Elumelu to co-chair G20 business council in India
Elumelu joins a prestigious group of 38 private sector leaders accompanying Nigerian President Bola Ahmed Tinubu to the Nigeria-India presidential roundtable.