Dangote’s half-brother Sayyu Dantata eyes sale of lavish Banana Island mansion

Nigerian businessman Sayyu Dantata, the founder and CEO of MRS Holdings, and the half-brother of Africa’s richest man Aliko Dangote, is considering the sale of his opulent Banana Island mansion. The luxurious residence, situated in Lagos, is renowned for its grandeur, featuring a unique design that merges two separate sections into one expansive compound.

The leading businessman known for his affinity for luxury and lavish assets, is reportedly contemplating a return to his hometown of Kano State. The decision to sell his Banana Island mansion is driven by his desire to relocate, and he aims to execute the sale as soon as possible.

Sayyu Dantata’s influence leading the charge in Nigeria’s petroleum industry

Sayyu Dantata, who initially started his career as the Director of the Engineering and Transport Division of Dangote Group, has made a name for himself in the business world. An avid polo player, he is distinguished as the only Nigerian businessman who pilots his own helicopter, often navigating the Lagos metropolis to bypass the city’s notorious traffic congestion. Besides a private jet, Dantata’s luxurious assets reflect his successful career and taste for opulence.

Through his investment holding company, MRS Africa Holdings, Dantata holds a commanding 60-percent stake, equivalent to 205,730,806 ordinary shares, in MRS Oil Nigeria. The company is a key player in Nigeria’s petroleum industry, specializing in refined products such as gasoline, marine fuels, and aviation fuels.

With operations extending across West African countries, including Benin, Togo, Cameroon, and Cote d’Ivoire, MRS Oil Nigeria stands as one of Nigeria’s top fifty most valuable companies on the Nigerian Exchange.

Sayyu Dantata’s leadership propels MRS Oil: Revenue soars 80.9 percent to $112.8 million

Under Sayyu Dantata’s leadership, MRS Oil Nigeria Plc witnessed an impressive 80.9-percent surge in revenue, climbing from N100.78 billion ($62.36 million) in 2022 to N182.31 billion ($112.8 million) for the year ending December 31, 2023. This remarkable increase is primarily attributed to the rise in Premium Motor Spirit (PMS) prices during the year, driving PMS sales from N85.84 billion ($53.1 million) in 2022 to N161.74 billion ($100.1 million) in 2023.

In a strategic move aimed at rejuvenating Nigeria’s aging pipeline infrastructure, the Nigerian National Petroleum Corporation Limited (NNPC) awarded multimillion-dollar contracts for pipeline rehabilitation in October 2023. Among the recipients was MRS Oil Nigeria Plc, underscoring Sayyu Dantata’s impact on the nation’s oil sector.