Home » Aliko Dangote’s brother Sayyu Dantata gains over $10 million from MRS Oil stake

Aliko Dangote’s brother Sayyu Dantata gains over $10 million from MRS Oil stake

by Feyisayo Ajayi
Sayyu Dantata

Nigerian businessman Sayyu Dantata, half-brother of billionaire Aliko Dangote, has seen a remarkable increase of more than $10 million in his net worth, owing to his stake in MRS Oil Nigeria, a fully integrated and efficient downstream player with leading positions in the Nigerian Oil Industry.

According to data tracked by Billionaires.Africa, Dantata’s stake in MRS Oil Nigeria has soared by over $10 million (N8.37 billion) in the past 39 days, driven by a surge in the company’s share price.

MRS Oil Nigeria Plc, a prominent Nigerian oil marketing company, operates in three segments: retail, commercial and industrial, aviation, and lubricants. Its operations span several West African countries, including Benin, Togo, Cameroon, and Cote d’Ivoire.

At present, MRS Oil Nigeria is ranked as the 45th most valuable stock on the Nigerian Exchange, boasting a market capitalization of N37.5 billion ($47.32 million), accounting for 0.104 percent of the local bourse’s total equity market.’

Dantata owns an impressive 60 percent of MRS Oil Nigeria Limited, through his investment company, MRS Africa Holdings. This significant stake, amounting to 205,730,806 ordinary shares in the company, positions him as one of the wealthiest investors in the Nigerian Exchange (NGX).

Over the past 39 days on the Nigerian Exchange, the share price of MRS Oil Nigeria has experienced an impressive ascent, surging from N68.75 ($0.087) on June 16 to N109.45 ($0.138) at the time of writing, resulting in a substantial 59.20 percent gain for shareholders.

The latest surge in the company’s shares has propelled the market value of Dantata’s stake in MRS Oil Nigeria from $17.85 million (N14.14 billion) on June 16 to $28.42 million (N22.52 billion) on July 25.

This recent upswing has translated into an outstanding gain of $10.57 million (N8.37 billion) for the Nigerian businessman over the past 39 days, further cementing his position as one of the country’s top business executives. It showcases the lucrative benefits of his investments and strategic involvement in the oil marketing company.

With his exceptional business acumen and strategic positions within MRS Oil Nigeria through MRS Africa Holdings, Dantata continues to make waves in the Nigerian business landscape, solidifying his status as a highly successful and influential entrepreneur.

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