Tag: Nigerian billionaire

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Nigerian billionaire Femi Otedola’s First HoldCo stake rises to $1.27 billion after latest share purchase

Femi Otedola’s First HoldCo stake rises to $1.27 billion after a N18.11 billion share purchase lifts his ownership to 26.1 percent.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu.
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Nigerian billionaire Abdul Samad Rabiu’s BUA Foods hits $1.2 billion assets as profits surge

Abdul Samad Rabiu’s BUA Foods crosses $1.2 billion in assets while net income surges 12 percent despite softer consumer demand.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu.
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Nigerian billionaire Abdul Samad Rabiu commits $85 million to ports expansion project

Nigerian billionaire Abdul Samad Rabiu is investing $85 million to expand BUA Ports in Port Harcourt, boosting logistics for BUA Foods' growth.

Omokolade Ajayi Omokolade Ajayi
Heirs Holdings
BusinessHot News

Heirs Holdings’ portfolio companies earn international recognition across industries

Heirs Holdings companies Transcorp, AEDC, and Redtech rank among Africa's top performers as Tony Elumelu's Africapitalism model scales.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu.
BusinessBillionairesHot News

Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $238 million half-year profit

Abdul Samad Rabiu's BUA Cement reports a N324.88 billion ($238 million) half-year profit, driven by strong sales and lower finance costs in 2026.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Tony Elumelu
Hot NewsBillionairesBusiness

Transcorp, led by Nigerian billionaire Tony Elumelu, grows assets to $797 million

Transcorp's assets rose to $797 million as retained earnings neared $144 million, strengthening its balance sheet in the first half of 2026.

Omokolade Ajayi Omokolade Ajayi
Femi Otedola, Nigerian billionaire and chairman of First HoldCo, the parent company of First Bank of Nigeria.
Hot NewsBusiness

Femi Otedola-led First HoldCo posts $473 million half-year pre-tax profit

Femi Otedola-led First HoldCo posted $473.8 million in half-year pre-tax profit as stronger fee income and lower credit losses lifted earnings.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu.
Hot NewsBillionairesBusiness

Nigerian billionaire Abdul Samad Rabiu collects $337 million BUA Foods dividend

Abdul Samad Rabiu receives a record N467 billion ($337.3 million) dividend as BUA Foods doubles its payout on surging profits.

Omokolade Ajayi Omokolade Ajayi
Hot NewsBillionairesBusiness

Nigerian billionaire Femi Otedola’s First HoldCo stake tops $700 million as shares hit record high

Femi Otedola's First HoldCo stake surpasses $700 million as the lender's shares hit a record high ahead of half-year earnings.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Tony Elumelu
BillionairesBusinessHot News

Nigerian billionaire Tony Elumelu retires as UBA chairman, capping a 21-year run that built a $24.5 billion banking giant

Tony Elumelu retires as UBA Chairman after a 21-year tenure, building a banking giant with $24.5 billion in assets. Emmanuel Nnorom takes over.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire businessman Tony Elumelu
Hot NewsBillionairesBusiness

Nigerian billionaire Tony Elumelu reveals the single quality every African founder needs

Nigerian billionaire Tony Elumelu shares the one crucial quality every African entrepreneur needs to build lasting institutions.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu.
BillionairesBusinessHot News

Nigerian billionaire Abdul Samad Rabiu loses $3.4 billion in under six weeks

BUA Group chairman Abdul Samad Rabiu loses $3.4 billion in six weeks following a major profit-taking wave on the Nigerian Exchange.

Omokolade Ajayi Omokolade Ajayi