Nigerian oil tycoon Uju Ifejika says she put $400 million into a field Chevron let go
Catherine Uju Ifejika says Brittania-U spent $400 million on the Ajapa field it bought from Chevron, as Nigeria targets 2.5 million barrels a day.
West & Central Africa
Nigerian cable tycoon George Onafowokan expects rate cuts within two CBN meetings
George Onafowokan says the CBN could start cutting from 26.5% within two meetings, after Coleman spent $20 million generating its own electricity.
Nigerian billionaire Kunle Soname is being pushed to run the NFF, and he keeps saying no
The National Sports Commission favours Kunle Soname for the NFF presidency after the entire executive resigned. He has said he is not interested.
Aliko Dangote could add $20 billion to his fortune in a single day in October
Bloomberg carries Dangote's refinery at construction cost. Pricing it at what investors paid in July adds $18.5 billion to his fortune overnight.
Nigerian billionaire Femi Otedola's 'Making It Big' turns one, 8 lessons from the bestseller
Making It Big turned one on Aug. 18. It won Axiom gold in the US, placed second in London, and Otedola is writing the sequel.
Nigerian billionaire Phillip Ihenacho is selling most of Azura Power to an Abu Dhabi buyer
ePointZero is buying 90% of Azura Power, the 752MW producer Phillip Ihenacho's Amaya Capital founded in 2010. Amaya keeps a 10% minority stake.
Nigerian Pharma tycoon Stella Okoli raises $19.8 million to complete new production facility
Stella Okoli's Emzor has raised N26.7bn ($19.8m) at a 19% coupon to finish West Africa's first antimalarial API plant a Sagamu facility that was due to open in late 2025, then early 2026, and is still incomplete.
Nigerian tycoon Tope Shonubi's Sahara supplies six months of fuel to Madagascar's power stations
Sahara Group supplied the 67 million litre cargo that opened Madagascar's state fuel imports, after the government seized a rival's storage tanks.
Nigerian billionaire Aliko Dangote cuts off petrol supply to marketers who import
Aliko Dangote's refinery has stopped selling petrol to marketers who also import, citing blending and quality. It lands while he is in court trying to cancel the import licences of six marketers and NNPC which says imports prevent monopoly pricing.
Nigerian tycoon Ernest Azudialu is pumping more oil while owing lenders over $1 billion
Ernest Azudialu's Nestoil ran its own rig on OML 42 to lift output, twelve days after paying $60 million under an EFCC-brokered repayment plan.
Dutch-Nigerian billionaire Cornelis Vink owns the tower Burna Boy craned a Ferrari into
Cornelis Vink sold Chivita to Coca-Cola for $1 billion and bought Union Bank. His Kaizen Properties is building Burna Boy's Bourdillon tower.
Nigeria’s Femi Otedola lost $1.2 billion, now he’s Africa’s fastest-growing billionaire
Femi Otedola's fortune rose 36% to $1.9 billion since March, faster than any other African billionaire, on a single concentrated bet on First HoldCo.
Nigerian real estate mogul Sijibomi Ogundele repays $30 million debt as corruption inquiry continues
Sijibomi Ogundele says Sujimoto has repaid more than N40bn ($30m) and will be debt-free by January 2027. He makes the claim while an EFCC investigation into N5.7bn of Enugu State schools money remains open. He denies wrongdoing.
MTN seeks Nigerian buyers for 30 percent IHS stake worth up to $1.1 billion
MTN is hunting Nigerian buyers for 30% of IHS Nigeria, a sale that could raise $900m to $1.1bn. The sell-down is the price Nigeria's competition regulator set for clearing MTN's takeover of the continent's biggest tower operator.
Aliko Dangote family office to launch in 2027 as investment hub
Aliko Dangote's Dubai family office will become visible in the first quarter of 2027, his daughter Halima says, taking on governance, capital management and philanthropy for a group built to survive eight to 10 generations.
Africa's richest man says fuel import licences are squeezing his Nigerian refinery
Dangote Refinery says imported petrol took 43% of Nigeria's market in July and that licences are still being issued despite ample local capacity.