Africa’s richest man slashes petrol prices in Nigeria by 13 percent in 2025
This aligns with Nigeria’s broader economic recovery efforts under President Bola Ahmed Tinubu and aims to ease financial pressure on consumers.
West & Central Africa
U.S.-Nigerian telecom executive Sam Darwish’s stake in IHS gains nearly $6 million
The recent rally has driven Sam Darwish’s stake to nearly $50 million.
Nigerian cannabis mogul dismisses Trump’s $5 million ‘gold card’ as a hard sell for investors
Nigerian cannabis mogul Bassim Haidar doubts Trump’s proposed “gold card” visa will draw a surge of global investors, pointing to concerns over higher taxes.
Nigerian energy magnate Austin Avuru’s Seplat targets 14 trillion cubic feet of gas from new assets
Seplat Energy targets 14 trillion cubic feet of gas to boost Nigeria’s energy security, expand crude output, and drive economic growth through strategic acquisitions.
Burkina Faso’s banking mogul Idrissa Nassa’s Coris Bank Togo hits $845 million in assets
The steady growth underscores Coris Bank International’s commitment to expanding its West African footprint under Idrissa Nassa’s leadership.
Africa’s richest man Aliko Dangote is $213 million richer this year
The increase is tied to his 86 percent stake in Dangote Cement Plc, Africa’s largest cement producer, which has gained nearly $200 million in value this year.
Flutterwave, led by Olugbenga Agboola, plans Nigerian Exchange listing with focus on profitability
This comes as Flutterwave continues to emphasize that its long-awaited initial public offering (IPO) will only happen once the company becomes profitable.
Abdul Samad Rabiu, Nigeria’s third-richest man, donates $3.3 million at ex-President’s book launch
His $3.3 million donation, was the second-largest of the evening, surpassed only by Aliko Dangote’s contribution.
Africa’s richest man donates $5.3 million at ex-Nigerian President’s book launch
Speaking at the event, he credited Babangida’s economic policies—particularly the abolition of import licenses—for shaping Nigeria’s private sector.
Burkina Faso’s richest man secures $5.2 million to support Togo’s farmers
The funds will be channeled through Bonkoungou Distribution (BKG), a subsidiary of Mahamadou Bonkoungou’s EBOMAF.
Tosin Eniolorunda, Moniepoint founder, eyes Europe’s 13 million unbanked adults
With 13 million adults in Europe still unbanked, he believes African fintechs can help bridge the gap.
Burkina Faso’s banking tycoon Idrissa Nassa takes over TotalEnergies’ operations
The deal, executed through Coris Invest Group, one of Nassa’s holding companies, is part of a broader expansion into the oil sector.
Nigeria’s Sijuwade royal family, one of Africa’s wealthiest, eyes first oil from one of its oil blocks
The Sijuwade Group’s oil and gas arm holds a 10 percent stake in OPL 276, where production is slated to begin within the next 12 to 18 months.
NNPC acquires stake in $7 million CNG Plant owned by Nigerian businessman Greg Ogbeifun
NNPC acquires a 15% stake in Starzs Gas’ $7 million CNG plant, strengthening Nigeria’s clean energy drive, domestic gas expansion, and industrial development.
Nigerian oil mogul Jite Okoloko exits Eroton following major board shake-up
His exit comes amid a major board reshuffle led by political and business heavyweight James Ibori, signaling a new chapter for the company.
Court rules against Herbert Wigwe’s parents in legal battle over Nigerian banker’s estate
Lagos court rejects parents’ bid to challenge control of late Nigerian banker Herbert Wigwe’s estate, upholds existing structure including first daughter Otutochi.