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Otedola’s recent acquisition solidifies his position as the largest shareholder in the parent company of First Bank of Nigeria, raising the market value of his stake to $84.2 million.
Otedola’s net worth has surged by $400 million since the start of 2024, increasing from $1.1 billion to $1.5 billion, according to Forbes.
The agreement will see BUA Foods more than double its current output from 400,000 tonnes to 900,000 tonnes per year.
DJ Cuppy made history as the first British Nigerian to host an opening session at the UN General Assembly (UNGA).
The Dangote Oil Refinery, which started loading petrol into trucks on Sun., Sept. 15, is seen as a breakthrough in Nigeria’s decades-long struggle with fuel imports and shortages.
FBN Holdings, led by Femi Otedola, is selling its 100-percent stake in FBNQuest Merchant Bank to streamline operations and focus on core banking.
