Femi Otedola, Chairman of First HoldCo Plc, has increased his holding in the company following a major share acquisition worth about ₦43.41 billion. The transaction was carried out on the Nigerian Exchange on May 13, 2026.The deal involved the purchase of 549,535,653 shares at an average price of ₦79 each. With this addition, Otedola’s total…
The Federal Government of Nigeria has received presidential approval for a $75 million investment in Flutterwave, a leading African fintech company. President Bola Tinubu granted the approval as the firm advances preparations for its initial public offering (IPO). The investment is expected to be executed through the Ministry of Finance Incorporated and forms part of…
Dangote Petroleum Refinery has announced an upward adjustment in its ex-depot prices for petroleum products. Effective immediately, the price of Premium Motor Spirit (petrol) has risen to ₦1,275 per litre, while Automotive Gas Oil (diesel) has increased to ₦1,950 per litre. This revision reflects ongoing volatility in international crude oil markets and associated external pressures…
Aliko Dangote has once again secured his place as Africa’s wealthiest individual in the 2026 Forbes ranking of the continent’s billionaires. His net worth has grown impressively to $28.5 billion, marking a gain of $4.6 billion compared to the previous year. This notable increase stems primarily from the strong performance of Dangote Cement, whose shares…
The U.S. stock market experienced a significant downturn today, with major indices closing lower amid heightened investor concerns. The S&P 500 declined by approximately 1.3%, while the Dow Jones Industrial Average fell nearly 1%, and the Nasdaq Composite dropped about 1.6%. This broad-based sell-off contributed to a substantial reduction in overall market capitalization. Reports indicate…