Femi Otedola’s Geregu Power eyes growth as Nigeria finalizes $1.15-billion power plant sale
The company is in line to acquire one of five power plants being sold by the Nigerian government through the Ministry of Power.
The company is in line to acquire one of five power plants being sold by the Nigerian government through the Ministry of Power.
This new acquisition represents a major milestone for the company. From the outset of its operations one year ago, LIZ Aviation had announced its expansion fleet to four aircraft.
Femi Otedola now holds a 7.01 percent stake in the financial services group.
Oando’s return to JSE is seen as a positive boost for investor confidence and market position under Wale Tinubu’s leadership.
The former two-time heavyweight champion, who earned $83 million over the past year, is now setting his sights on the football world.
The confrontation between billionaire businessman Femi Otedola and Jim Ovia, chairman of Zenith Bank, over an alleged multibillion-naira fraud has escalated further.
Fidson Healthcare Plc, a leading Nigerian pharmaceutical manufacturing company led by Fidelis Ayebae, will seek shareholders’ approval to raise additional capital of up to N20 billion at its forthcoming 25th Annual General Meeting.
Dangote, whose net worth stands at $15 billion, highlighted the pivotal role of recent restructuring efforts and strategic leadership appointments within the conglomerate.
Sources within First Bank confirmed that the CBN credited the lender before revoking Heritage Bank’s license.
The world-class research laboratory is one of many interventions under ASR Africa’s Tertiary Education Grants Scheme (TEGS), which is funded by ASR Africa’s $100-million Fund for Social Development and Renewal.
Despite a tough fiscal year, the group plans to reward shareholders with a proposed dividend of N7.38 billion ($4.9 million)
Oando’s average production for 2023 was 20,837 barrels per day, slightly up from 20,703 barrels per day in 2022.
This ambitious plan relies on bringing three marginal fields online within the next year. Lulu-Briggs unveiled the strategy at the recent Offshore Technology Conference (OTC) in Houston.
The maiden consignment, comprising 45,000 metric tons of jet fuel, embarked on its journey to Rotterdam, Netherlands, aboard the vessel “Doric Breeze” from the Lekki Free Zone in Lagos on May 27.
The MoU, signed in Berlin on May 29, 2024, focuses on developing solutions for sustainable, resilient, and efficient power generation at Geregu’s existing plant.
The NNPCL announced on May 30, 2024, the formalization of an agreement that transfers ExxonMobil’s interests in Mobil Producing Nigeria Unlimited (MPNU) to Seplat.