Greek multimillionaire businessman makes $13.3 million from Nigerian food group
The rise in the market value of Coumantaros’ stake in Flour Mills cements his position as a top investor on the Nigerian Exchange.
The rise in the market value of Coumantaros’ stake in Flour Mills cements his position as a top investor on the Nigerian Exchange.
Speaking at the Africa CEO Forum in Kigali, Rwanda, Dangote detailed the refinery’s ability to produce a wide range of refined products, including gasoline, diesel, and aviation fuel.
Ovia maintains his position as Nigeria’s richest banker, highlighting his lasting success as a prominent business leader in the country.
As a security precaution, Flutterwave will notify some customers to migrate their accounts and is urging all customers to enable multifactor authentication, 3D security, and IP whitelisting.
Boasting the world’s largest single-train capacity (650,000 barrels per day), the Dangote Oil Refinery aims to wean Nigeria off its reliance on imported fuels.
This comes after a substantial gain of $7.4 million recorded between April 17 and May 1, when the market value of his stake skyrocketed from $43.41 million to $50.81 million.
The announcement, made during the Choose France Summit 2024, solidifies Aig-Imoukhuede’s role in fostering economic ties between the two nations.
The suspension follows the filing of an injunction by minority shareholders, specifically targeting the allotment of shares. Court hearings are scheduled to commence this week.
The financing will be facilitated through Nigeria’s tax credit scheme, designed to attract private sector participation in infrastructure development.
Dangote, Africa’s richest man and Nigeria’s wealthiest individual, has seen his fortune plummet by $8.6 billion since Jan. 30.
Elumelu has solidified his position as a titan of African commerce, transforming UBA Group from a domestic bank into a continental powerhouse.
The move adds to the foundation’s recent efforts to alleviate economic hardships and address critical social issues in Nigeria.
The donation adds to Offor’s extensive philanthropic record.
The decline follows a brief uptick in April fueled by the Central Bank of Nigeria’s (CBN) efforts to address a backlog of dollar obligations, which strengthened the naira.
The targeted capital will be sourced through public offerings, private placements, rights issues, and other instruments.
Founded in 1960 by the late George Coumantaros and now led by his son John Coumantaros, Flour Mills has become a major player in Nigeria’s food and agro-allied industries.