Aliko Dangote’s Dangote Cement, Karl Toriola-led MTN Nigeria eye N1 trillion profit
Dangote Cement and MTN Nigeria are in a tight race to become the first Nigerian company to hit a record N1 trillion profit in 2025.
West & Central Africa
MTN Nigeria posts $518 million profit under Karl Toriola in 9M 2025
The return to profit reflects improved market conditions in Nigeria, where the naira has strengthened, inflation pressures have eased and foreign exchange liquidity has improved.
Nigerian businessman Ladi Jadesimi gains $29 million from Aradel stake
Ladi Jadesimi’s stake in Aradel Holdings rises by $29 million as shares surge nearly 31% on the Nigerian Exchange over 10 months.
Aliko Dangote’s refinery pledges steady fuel supply as output tops demand
Dangote refinery lifts output above demand and pledges stable petrol and diesel prices across Nigeria.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods doubles nine-month profit to $283 million
BUA Foods, led by billionaire Abdul Samad Rabiu, doubles nine-month profit to $283 million on rising sales and cost control.
Nigerian billionaire Femi Otedola’s First HoldCo posts $1.7 billion in gross earnings
Femi Otedola’s First HoldCo posts $1.7 billion gross earnings in nine months, with strong asset and equity growth.
American-Burkinabè banker Simon Tiemtoré's Vista Bank eyes controlling stake in ACEP Cameroon
Vista Bank, led by Simon Tiemtoré, is in advanced talks to acquire a controlling stake in ACEP Cameroon to expand across Central Africa.
Oando links $450 million revenue loss to Aliko Dangote’s $20 billion refinery
Oando blames a $450 million revenue fall on Dangote’s $20 billion refinery as it shifts focus to crude and gas trading.
Burkinabe tycoon Idrissa Nassa’s Coris Holding gets $115.7 million to boost banking in West Africa
Idrissa Nassa gets $115.7 million investment to grow Coris Bank and expand banking access across West Africa.
Nigerian oil mogul Wale Tinubu’s Oando reports $145 million 9-month profit
Oando posts $145 million profit in 9 months as production rises and NAOC acquisition boosts output.
Nigerian billionaire Femi Otedola's FirstHoldCo settles $350 million Eurobond
FirstBank, the flagship banking subsidiary of FirstHoldCo, redeems a $350 million Eurobond, reinforcing liquidity and investor confidence.
Nigerian billionaire Adebayo Ogunlesi-linked OpenAI prepares IPO that could top $1 trillion
OpenAI, backed by Nigerian billionaire Adebayo Ogunlesi, prepares a $1 trillion IPO to fund AI expansion and acquisitions.
American-Nigerian mogul Sam Darwish’s IHS slashes diesel consumption by 50 million liters
Sam Darwish’s IHS Nigeria saves 50 million liters of diesel with $750 million investment in hybrid and solar systems.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $200 million nine-month profit
Abdul Samad Rabiu’s BUA Cement reports a $200 million profit in nine months, driven by higher sales, strong demand, and efficient cost control.
Africa’s richest man Aliko Dangote seeks $5 billion to expand Lagos refinery
Dangote seeks $5 billion to expand Lagos refinery, aiming to double output and boost Nigeria’s energy independence.
Nigerian entrepreneur Innocent Onwunali expands spirits portfolio with new launch
Nigerian entrepreneur Innocent Onwunali’s IKI Leads debuts Doncoco, a new line of locally crafted spirits blending quality, flavor, and homegrown pride.