
Nigerian billionaire Abdul Samad Rabiu to pocket $143 million dividend from BUA Foods
This dividend, which will be paid on September 25, is the lion’s share of the proposed N234 billion ($152.43 million) payout for the year.
This dividend, which will be paid on September 25, is the lion’s share of the proposed N234 billion ($152.43 million) payout for the year.
Dangote's empire thrives on diversification, with investments spanning cement, sugar, and oil refining, ensuring stability and long-term growth amid economic fluctuations.
Adebayo Ogunlesi's fortune fell to $2.2 billion as BlackRock shares declined from $1,075 to $951.73 since Jan. 31.
Otedola, one of Africa’s billionaires since 2009, played a key role in guiding the group toward this milestone, reinforcing his influence in Nigeria’s financial sector.
His power company, Pacific Energy currently operates two gas-fired power plants in Nigeria’s southwest region.
The sharp decline highlights the volatility of Nigeria’s currency and its direct impact on the fortunes of the country’s wealthiest individuals.
For Otedola, this is just the beginning. With the new headquarters underway, he is not just reshaping a bank—he is redefining the future of Nigeria’s financial industry.
Revenue from its Nigerian unit rose from N1.29 trillion ($860.6 million) to N2.19 trillion ($1.46 billion), helped by higher cement prices.
The cement manufacturer recorded a 6.4 percent rise in profit despite surging finance costs and operational expenses.
His $3.3 million donation, was the second-largest of the evening, surpassed only by Aliko Dangote’s contribution.
The rebranding reflects a future-focused vision built on a legacy of trust, resilience, innovation, and exceptional service.
Okoya’s legacy is about people. His companies employ over 5,000 Nigerians and support the livelihoods of more than 25,000 others who sell Eleganza products.
The expansion aligns with Globacom’s long-term strategy of deepening its presence across the country.
His $100 million gain comes after an impressive 2024, during which his net worth grew by $600 million
The final dividend for the year ended Dec. 31, 2024, amounts to N21.25 billion ($14.4 million), translating to a payout of N8.5 per share.
The company’s profit more than doubled, reaching over $180 million, underscoring its growing influence and market presence in Nigeria’s food sector.