The 10 investors on the Nigerian Exchange with the highest gains in 2021
Founders and investors on the Nigerian Exchange have seen their wealth rise astronomically since the start of the year, as a growth in earnings across the board swayed bargain hunters to sustain buying pressure on the shares of fundamentally strong companies on the local bourse.
The sustained buying pressure has led to an increased market value of equity stakes belonging to company founders such as Austin Avuru and A.B.C. Orjiako, who established Seplat in 2009, and Obafoluke Otudeko, the founder of Honeywell Group.
Meanwhile, billionaire businessmen like Aliko Dangote and Abdul Samad Rabiu have suffered huge losses from their holdings.
Data computed by Billionaires.Africa revealed that the 10 investors who saw their wealth rise the most this year have seen the market value of their stakes increase by a total of $174.8 million.
Here is how investors have performed so far this year:
#1 Austin Avuru
Holdings: Seplat Energy
Equity gains: $52.2 million
Austin Avuru, the Nigerian oil magnate who holds a beneficial stake in Seplat Energy, has seen the market value of his equity position rise by $52.2 million this year on the back of an 89-percent increase in the share price of the leading oil company.
Seplat rebounded from a loss of $145.3 million in the first half of last year to a pretax profit of $62.1 million in the first half of 2021.
This resilient performance led shares in the company to increase by double digits, as investors sustained buying interest on the Nigerian Exchange.
#2 Obafoluke Otudeko
Holdings: Honeywell Flour Mills Plc, First Bank of Nigeria Holdings Plc
Equity gains: $40.1 million
Nigerian business tycoon Obafoluke Otudeko, who runs the Radisson Blu Anchorage Hotel on Victoria Island, Lagos, has seen his wealth surge by $40.1 million since the start of the year.
The majority of the $40.1-million gain in Otudeko’s stakes on the local bourse came off of a 257-percent increase in the share price of Honeywell Flour Mills, as investors digest its most recent quarterly filings.
In the first quarter of its 2021-2022 financial year, Honeywell reported that its profit grew by 233 percent to N150 million ($364,521), from N45 million ($109,356) in the corresponding quarter of its 2020-2021 financial year.
The triple-digit growth in the company’s profit spurred investors and bargain hunters to acquire stakes in the flour miller.
#3 A.B.C. Orjiako
Holdings: Seplat Energy
Equity gains: $40.1 million
A.B.C. Orjiako co-founded Seplat Energy with Austin Avuru, another investor who recorded a double-digit increase in his wealth due to the rise in the share price of Seplat Energy on the Nigerian Exchange.
Data tracked on the Nigerian Exchange revealed that the 89-percent increase in the share price of Seplat Energy caused the value of Orjiako’s stake in the company to gain $32.8 million since the start of the year.
Aside from his gains, the multimillionaire businessman is on course to earn an interim $1.9-million dividend.
#4 John Coumantaros
Holdings: Flour Mills of Nigeria
Equity gains: $18 million
Nigeria-based Greek businessman and investor John Coumantaros is one of the investors on the Nigerian Exchange who have seen their wealth rise the most so far this year.
The multimillionaire businessman holds an indirect stake of 63 percent in Flour Mills of Nigeria through Excelsior Shipping Company Limited.
Data compiled by Billionaires.Africa revealed that the market value of his indirect stake in the leading flour miller has increased by $18 million so far this year.
The $18-million gain in his stake can be attributed to an 11-percent increase in the share price of the leading flour miller on the Nigerian bourse.
#5 Belinda Ajoke Disu
Holdings: Julius Berger Nigeria
Equity gains: $7.5 million
The 35-year-old Nigerian businesswoman and the executive vice chairman of Globacom has seen the market value of her stake in Julius Berger Nigeria Plc increase by $7.5 million since the start of the year.
The multimillion-dollar gain in her stake can be attributed to a 42-percent increase in the price valuation of Julius Berger shares on the Nigerian Exchange.
#6 Abdulwasiu Sowami
Holdings: Ardova
Equity gains: $5.2 million
Abdulwasiu Sowami, who acquired Forte Oil following Femi Otedola’s decision to divest his shares in the oil company, has played a crucial role in transforming the company into one of the leading players in the Nigerian oil and gas sector.
The market value of his equity stake in Ardova Plc, which amounts to 970,666,694 ordinary shares, is presently worth $37.2 million, up by $5.2 million since the start of the year.
The $5.2 million increase in the value of his stake came off of a 14.4-percent increase in the company’s share price.
#7 Victor Odili
Holdings: MTN Nigeria
Equity gains: $5.1 million
Nigerian energy magnate Victor Odili, the chairman and executive director of Aero-Maritime Group and a former member of the board of MTN Nigeria Communications, has seen the market value of his stake in MTN Nigeria Plc increase by $5.1 million.
The largest telecom service provider in Nigeria, MTN Nigeria recorded a 54.1-percent growth in profit in the first half of 2021.
The double-digit growth, which spurred investors to sustain buying interest in the leading telecom service provider, caused MTN shares to rise from N169.90 in January to N172.50 today, Sept. 1.
#8 Goni Musa Sheikh
Holdings: Julius Berger Nigeria
Equity gains: $4.8 million
Goni Musa Sheikh, who is on the board of Julius Berger Nigeria Plc and Oriental Energy Resources Limited, is among those investors who recorded a double-digit increase in their wealth as a result of the rise in the share price of Julius Berger Nigeria.
The $4.8-million increase in the market value of his stake in Julius Berger was driven by a 42-percent increase in the price valuation of Julius Berger shares on the Nigerian Exchange.
#9 Obafemi Otudeko
Holdings: Honeywell Flour Mills
Equity gains: $4.6 million
Obafemi Otudeko, the son of Obafoluke Otudeko, the Nigerian multimillionaire businessman who founded Honeywell Flour Mills Plc, is one of the beneficiaries of the recent surge in the share price of the indigenous miller on the Nigerian Exchange.
Data compiled by Billionaires.Africa revealed that the 257-percent increase in the share price of Honeywell Flour Mills triggered the market value of his holdings to increase by $4.6 million.
#10 Kessington Adebutu
Holdings: Wema Bank Plc
Equity gains: $4.5 million
The equity stake of Nigerian gambling magnate Kessington Adebutu in Wema Bank Plc has gained $4.5 million since the start of the year.
The $4.5-million gain came off of a 25-percent increase in the price valuation of Wema Bank shares on the Nigerian Exchange.