Folasope Aiyesimoju tops $90 million on UACN shares rally

Nigeria’s youngest dealmakers, Folasope Babasola Aiyesimoju, CEO and largest shareholder of UAC of Nigeria Plc (UACN), has gained nearly $18 million from his stake in UAC of Nigeria Plc (UACN), since the start of 2026, as shares in the leading diversified conglomerate operating across foods and beverages, real estate, paints, and logistics, continue to climb on the Nigerian Exchange (NGX).

The gain, which has lifted his combined equity exposure in UAC of Nigeria Plc and its Property Development Company (UPDC) to more than $90 million (N121.8 billion), follows the group’s N2.93 billion ($2.12 million) dividend for fiscal 2025, underscoring its performance across a diversified business portfolio.

Aiyesimoju’s holdings on NGX rise as UAC shares climb

Aiyesimoju owns 743.08 million shares in UAC, representing a 25.36% stake in the diversified conglomerate and holding company with six (6) subsidiaries with interests organised around four (4) principal sectors.

Since Jan. 1, the market value of that holding has increased by N22.29 billion ($17.67 million), reflecting a steady rise in the company’s share price and renewed confidence in its financial position as investors hunt down dividend-paying stocks.

UAC shares have gained 34% so far this year, rising from N91 ($0.0674) on Jan. 1 to N121 ($0.09). That increase has pushed the bank’s market cap above $260 million, keeping it among Nigeria’s top 40 most valuable companies as of report writing.

The recent share-price increase has lifted Aiyesimoju’s stake from N67.62 billion ($49.04 million) to N89.91 billion ($66.71 million). For long-term shareholders, this reinforces UAC’s rich business portfolio, which includes UACN Property Development Company Plc, UAC Foods Limited (producers of Gala Sausage Roll, Delite Fruit Juice, etc.), MDS Logistics Limited (an integrated logistics company with investments in the development of pharmaceutical distribution hubs), UAC Restaurants Limited (operator of Mr Bigg’s outlets), and several others.

Consequently, Aiyesimoju’s 41.47% indirect stake in UACN Property Development Company (UPDC), representing 7,697,451,236 shares, is now valued at N31.94 billion ($23.7 million). Combined with his more than $67 million holding in UAC of Nigeria, bringing his equity exposure value to more than $90 million, he ranks among the top 25 wealthiest shareholders on the Nigerian Exchange.

UAC of Nigeria’s strong revenue despite profit dip
Under Aiyesimoju’s strategic leadership, UAC of Nigeria Plc reported mixed financial results for the period, with profit after tax declining 39% to N9.91 billion ($7.19 million) from N16.31 billion ($11.83 million), while gross revenue surged 73% to N340.47 billion ($246.8 million) from N196.90 billion ($142.8 million), reflecting robust performance across its diversified businesses in foods and beverages, real estate, paints, and logistics.

The company’s balance sheet showed significant expansion, with total assets soaring 278.5% to N597.06 billion ($433.2 million), driven by strategic acquisitions and investments. Retained earnings rose to N53.38 billion ($38.7 million), while total equity inched up 5% to N69.77 billion ($50.6 million), underscoring UAC’s resilience and commitment to long-term financial stability amidst aggressive growth in key sectors.