Abdul Samad Rabiu’s BUA pours $65 million into port terminal project
This follows public controversy after former Nigerian Ports Authority (NPA) Managing Director Hadiza Bala Usman accused BUA of breaching concession terms.
Nigerian billionaire
Mike Adenuga’s Globacom expands network to community near Nigeria’s capital
Glo expands mobile network to rural Kura near Abuja, connecting 12,000 residents with LTE, public WiFi for schools, clinics, and businesses.
Jim Ovia makes over $4.6 million from Zenith Bank stake
Zenith Bank shares climb, lifting market cap above $1 billion, as investor sentiment strengthens.
Mike Adenuga exports new Nigerian crude grade to international market
The Obodo blend is a medium sweet crude extracted from the onshore OML 150 block, operated by Continental Oil & Gas Limited, one of Conoil Producing’s units.
Abdul Samad Rabiu signs deal to boost Nigeria's food security
Abdul Samad Rabiu's BUA Group has partnered with Turkish firm Agrimac Makina Limited to install wheat handling equipment with a 2 million metric tonne annual capacity.
Before the billions, Aliko Dangote was Nigeria’s rising trading magnate
Before Aliko Dangote became Africa’s richest man, he quietly built a trading empire in Nigeria, mastering supply chains and laying his industrial legacy.
Arthur Eze to pay $10 million to regain oil blocks in Equatorial Guinea
Authorities there are demanding a $10 million bonus from him if he wants a chance to recover his oil blocks in the small but oil-rich nation on Africa’s west coast.
Abdul Samad Rabiu’s BUA Cement posts $62 million profit in Q1 2025
Pre-tax profit for the first quarter of 2025 surged to $62 million, marking a significant increase from the same period last year.
Nigerian billionaire Femi Otedola to receive $1.6 million dividend from FirstHoldco
Otedola, chairman of FirstHoldCo and Geregu Power, holds an 11.8% stake in the Lagos-based financial group.
Tensions rise in Nigerian billionaire Indimi family over oil fortune
Indimi family feud deepens as Mohammed Indimi’s eldest son challenges sisters’ $435 million dividend claim over Oriental Energy shares.
Femi Otedola leads FirstHoldCo to $660 million earnings in 2024
The results reflect the growing impact of Otedola’s leadership on the 130-year-old institution.
Abdul Samad Rabiu’s BUA to build gas power plant for LNG project
The new plant will power BUA’s LNG project, boosting energy efficiency and ensuring a dedicated supply.
Abdul Samad Rabiu signs deal for palm oil refinery
The facility will support sustainable practices in agriculture and manufacturing.
Nigerian billionaire Abdul Samad Rabiu to pocket $143 million dividend from BUA Foods
This dividend, which will be paid on September 25, is the lion’s share of the proposed N234 billion ($152.43 million) payout for the year.
5 investment strategies by Africa’s richest man, Aliko Dangote
Dangote's empire thrives on diversification, with investments spanning cement, sugar, and oil refining, ensuring stability and long-term growth amid economic fluctuations.
BlackRock stock slide wipes $100 million off Adebayo Ogunlesi’s net worth
Adebayo Ogunlesi's fortune fell to $2.2 billion as BlackRock shares declined from $1,075 to $951.73 since Jan. 31.