Nigerian billionaire Mike Adenuga’s oil firm rakes in over $140 million in revenue in 2023
Adenuga, renowned telecom mogul and one of Africa’s wealthiest billionaires, owns a 74.4-percent stake, equivalent to 516,298,603 shares, in Conoil.
Adenuga, renowned telecom mogul and one of Africa’s wealthiest billionaires, owns a 74.4-percent stake, equivalent to 516,298,603 shares, in Conoil.
The primary cause behind this abrupt plunge in Dangote’s wealth is attributed to the revaluation of his assets, triggered by the recent devaluation of the Nigerian naira.
Darwish, the chairman and CEO of IHS, who ranks as one of the top figures in the African telecom industry, holds a substantial 4.17-percent stake in the group.
Elumelu, through his investment firm HH Capital, holds a commanding 29.5-percent stake in Transcorp, owning 11,990,957,350 ordinary shares.
Under Dennis’ leadership, Sundial Brands thrived, and in 2017, Unilever acquired the brand in a $1.6-billion deal.
Having been linked to Ferrari multiple times throughout his F1 career, Hamilton’s anticipated move to the Italian team marks a significant chapter in his racing journey.
According to the Bloomberg Billionaires Index, his wealth surged from $15.1 billion on Jan. 1 to $22.2 billion on Jan. 31, marking a $7.11-billion increase.
The surge in revenue is attributed to price adjustments and volume increases from capacity expansion for IRS.
The decision to elevate Otedola to the position of chairman was reached at a board meeting today.
Coumantaros faced significant losses as the company’s shares took a recent hit on the Nigerian Exchange.
Similarly, the company’s profit saw a substantial increase of over 270 percent from $1.37 million $5.14 million, indicating improved operational efficiency and cost-effectiveness.
The company’s revenue soared beyond the $90-million mark during the period under review, marking a significant milestone in its operations.
The move by the Dangote Oil Refinery, led by Aliko Dangote, who holds the title of the world’s richest Black billionaire, signals a significant change in strategy.
The contract, part of the Direct Sale and Direct Purchase (DSDP) initiative, was awarded to six oil companies.
With a year-to-date wealth gain of $4.18 billion, pushing his net worth to $8.27 billion, he ranks among the top 20 wealth gainers globally in January 2024.
The surge in Otedola’s net worth is attributed to the stellar performance of his diverse investment portfolio.