Abdul Samad Rabiu overtakes Mike Adenuga as Nigeria’s second-richest man
Rabiu’s $7.2-billion fortune places him second in Nigeria, fifth in Africa, and 343rd globally on Forbes’ billionaires list.
West & Central Africa
Africa’s richest man Aliko Dangote makes $1.5 billion within 24 hours
The impressive surge in his fortune over the past 24 hours has seen his net worth increase from $15.5 billion to $17 billion.
Nigeria’s fourth-richest man Femi Otedola invests big in Dangote Cement
This investment follows Otedola’s return to the Forbes Africa’s Richest List, where he now boasts an estimated net worth of $1.2 billion.
$9-trillion Wall Street giant lands in Nigeria following takeover of billionaire Adebayo Ogunlesi’s GIP
The strategic move comes in the wake of BlackRock’s announcement of its intention to acquire GIP in a deal valued at $12.5 billion.
Africa’s richest man Aliko Dangote’s net worth skyrockets, exceeding $17 billion
In just 17 days of 2024, he has already regained over $2 billion.
Consortium including Nigerian tycoon Abdulrazaq Isa’s group to acquire Shell assets for $1.3 billion
Notably, Waltersmith Group, led by Nigerian businessman Abdulrazaq Isa, brings extensive experience in oil exploration and production.
Tony Elumelu becomes third Nigerian businessman to hold stakes in two trillion-naira companies
This achievement, following in the footsteps of Femi Otedola and Abdul Samad Rabiu, highlights the growing influence of Nigerian business leaders.
Nigerian banker Herbert Wigwe-led group acquires new insurance brokerage firm
The move aligns with the group’s vision of building a globally connected community of ecosystems inspired by Africa for the world.
Adenuga’s firm, six others get approval to distribute fuel from Aliko Dangote’s refinery
The marketers have registered for the lifting and distribution of refined petroleum products.
Nigerian insurance tycoon Wole Oshin gains nearly $2 million from Custodian stake
Oshin wields significant influence with a 26.81-percent stake, equating to 1,576,662,503 ordinary shares.
Kenyan tycoon Kiprop ‘Buzeki’ Bundotich forced to lay off 300 staff amid soaring fuel prices
Buzeki cited the adverse effects of high fuel prices, exacerbated by the government’s decision to eliminate fuel subsidies during Kenyan President William Ruto’s administration.
Nigerian businessman Tony Elumelu gains $14 million from UBA stake
Tony Elumelu, with his 7.39-percent stake in UBA, equivalent to 2,527,372,285 shares, stands out as one of the Nigerian Exchange’s most affluent investors
Nigerian banker Adebayo Ogunlesi emerges as Africa’s newest billionaire
With a calculated 17.5-percent stake in GIP, Ogunlesi now stands as one of Africa’s top 20 billionaires.
Greek tycoon John Coumantaros gains $13.4 million from Flour Mills stake
Coumantaros, the chairman of Flour Mills also ranked as one of the richest investors on the Nigerian Exchange, holds a substantial 63.34-percent stake in Flour Mills.
World’s richest Black billionaire’s refinery begins diesel and aviation fuel production
The Dangote Petrochemical Complex aims to meet 100 percent of Nigeria’s demand for refined petroleum products, including petrol, diesel, kerosene, and jet fuel.
5 companies linked to Nigerian lawyer and business executive Ifeoma Esiri
With more than 25 years of expertise and a pivotal role in Stanbic IBTC Holdings, she advocates for ethical governance while reshaping the nation’s financial landscape.