Fidelis Ayebae’s stake in Fidson Healthcare falls to under $7 million

Feyisayo Ajayi -
Key Points
  • Fidelis Ayebae's 33.1% stake in Fidson Healthcare dropped in value from $15 million to $6.79 million due to Nigeria's economic challenges.
  • Fidson’s shares have fallen 14.57% this year, reflecting the impact of Nigeria’s inflation and naira depreciation on business investments.
  • Despite losses, Ayebae’s leadership remains vital to Fidson’s future, with his strategic vision potentially guiding recovery amid Nigeria’s economic instability.

Nigerian pharmaceutical mogul Fidelis Ayebae has seen the value of his 33.1% stake in Fidson Healthcare Plc fall from over $15 million to $6.79 million in 2024.

The drop in value, totaling N1.94 billion ($8.29 million), is due to Nigeria's economic challenges, including a 47 percent depreciation of the naira against the U.S. dollar. Fidson’s share price, which started the year at N17.5 ($0.0106), is now trading at N14.95 ($0.0089).

Despite the setback, Ayebae remains a key figure in Nigeria’s pharmaceutical industry. Under his leadership, Fidson has become one of the country's top pharmaceutical companies, making history in 2005 as the first in the region to produce antiretroviral (ARV) drugs.

Fidson’s decline mirrors broader challenges in Nigeria

The drop in Fidson’s shares reflects broader challenges facing Nigerian businesses, particularly in pharmaceuticals and manufacturing.

The country’s economic instability, with high inflation, fluctuating exchange rates, has led to significant losses for many investors.

For Ayebae, the losses in his Fidson Healthcare investment are notable. Fidson’s shares have fallen 14.57 percent this year, with a total loss of 54.99 percent when adjusted for the naira’s devaluation. The company’s market capitalization is now struggling to stay above $21 million.

For investors, the impact is evident: A $100,000 investment in Fidson at the start of the year is now worth $45,993. Despite these losses, Ayebae’s leadership remains crucial for Fidson’s future.

What you should know

Though Ayebae has faced substantial losses, but his resilience in the pharmaceutical sector remains strong. As one of Nigeria’s wealthiest individuals, his leadership has been key to Fidson's growth.

Despite ongoing challenges, Ayebae's strategic vision could guide the company toward recovery as economic conditions stabilize.