British executive David Bird named CEO of Aliko Dangote’s $20 billion refinery
David Bird takes over $20 billion Dangote refinery as output rises and plans for public listing take shape in Nigeria.
West & Central Africa
Nigerian business executive Adegbite Falade steers Aradel to $240 million in H1 revenue
Aradel reports $240.5 million revenue, $95.7 million profit in H1 2025, fueled by strong crude output and asset expansion.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts nearly $600 million in half-year revenue
BUA Foods posts $596 million revenue, $169.8 million profit in H1 2025 as sugar, flour, and pasta drive strong gains.
Karl Toriola-led MTN Nigeria posts $1.57 billion in half-year revenue
MTN Nigeria posts $1.55 billion H1 revenue, swings to $271 million profit on soaring data, fintech growth, and improved forex environment.
Nigerian oil mogul Wale Tinubu’s Oando reports $1.12 billion in half-year revenue
The company also posted a net profit of $41.3 million, boosted by a tax credit and a recovery from earlier losses tied to asset impairments.
Seplat, co-founded by Austin Avuru, reports nearly $1.4 billion in half-year revenue
Seplat Energy posts $1.4 billion H1 2025 revenue, up 231%, as oil sales soar; profit falls 45% on tax bill and rising admin costs.
Africa’s richest man, Aliko Dangote, nears $29 billion fortune as refinery listing looms
Dangote nears $29 billion net worth with refinery listing plans and strong gains in cement, sugar, and energy.
Nigerian oil mogul Wale Tinubu’s Oando plans $1.2 billion solar power project
Oando to build $1.2 billion solar panel factory with Africa’s first recycling line, expand drilling, and raise $327.5 million for clean energy growth.
Shelf Drilling secures two-year contract extension with Conoil in West Africa
Shelf Drilling renews Nigeria offshore deal with Conoil through 2027, with option to extend to 2028 in OMLs 153 and 59.
First HoldCo’s half-year earnings top $1 billion under Nigerian billionaire Femi Otedola
First HoldCo’s gross earnings jump to $1.07 billion in H1 2025, while Otedola-led reforms drive asset growth and investor confidence.
Nigerian oil tycoon Mohammed Indimi makes $8.3 million from Jaiz Bank shares
Indimi is the largest shareholder in Nigeria’s pioneering non-interest bank, holding a 29.36% stake in Jaiz Bank.
Nigerian businessman Tony Elumelu’s Transcorp reports $183 million in half-year revenue
Transcorp posts $183 million H1 2025 revenue, with assets rising to $592 million across power, hospitality, and energy sectors.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa posts $1.42 billion in first-quarter revenue
Airtel Africa, led by Indian billionaire Sunil Mittal, posted $1.42 billion in Q1 revenue, driven by mobile money, data growth, and user expansion.
Nigerian billionaire Femi Otedola’s ‘Making It Big’ now available for pre-order
Femi Otedola’s new book reveals lessons on building billion-dollar businesses, overcoming setbacks, and inspiring Africa’s next leaders.
Aliko Dangote’s cement business hauls in $1.35 billion in six months
Dangote Cement posts $1.35 billion H1 revenue, profit surges 174% as pricing strategy and strong Nigerian market drive top-line and bottom-line growth.
Vitafoam Nigeria, partly owned by Samuel Bolarinde, posts $55 million nine-month revenue
Vitafoam posts $55 million revenue, returns to profit, and grows assets to $38.46 million amid strong demand and West Africa expansion.