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Indimi’s daughters have taken legal action against their father and his oil company, alleging they were unjustly denied their rightful share of a $435.1 million dividend.
Otedola’s generosity has touched lives nationwide, with substantial donations spanning education, health, security, and economic empowerment.
Despite revenue gains, net profit fell 18.64% to N8.96 billion ($5.45 million) due to rising costs.
Tony Elumelu, chairman of UBA and founder of the Tony Elumelu Foundation, will co-chair the New Africa Summit at the 8th Future Investment Initiative in Riyadh, advocating for Africa’s economic role on the global stage.
Otedola’s $2.25-million donation to Augustine University in Lagos bolsters his legacy in education and philanthropy.
Pan-African operations drive growth; profit margins remain steady despite rising costs.
The meeting, anticipated between Tuesday and Wednesday, aims to establish pricing and supply terms for petrol from the $20-billion refinery.
Total assets rose 21 percent to N221.09 billion ($136.4 million), reflecting strong growth and strategic investments under billionaire Femi Otedola's leadership.
This brings his fortune to $1.6 billion, cementing his position as one of Africa’s richest and most influential businessmen.
At the handover ceremony, Danjuma emphasized that the concession marked the beginning of a long and challenging journey towards achieving reliable electricity for the state.
Nigerian billionaire Aliko Dangote loses $11 billion in 250 days due to naira decline, failed merger, and market sell-off.
Otedola’s recent acquisition solidifies his position as the largest shareholder in the parent company of First Bank of Nigeria, raising the market value of his stake to $84.2 million.
Otedola’s net worth has surged by $400 million since the start of 2024, increasing from $1.1 billion to $1.5 billion, according to Forbes.
The agreement will see BUA Foods more than double its current output from 400,000 tonnes to 900,000 tonnes per year.
DJ Cuppy made history as the first British Nigerian to host an opening session at the UN General Assembly (UNGA).
The Dangote Oil Refinery, which started loading petrol into trucks on Sun., Sept. 15, is seen as a breakthrough in Nigeria’s decades-long struggle with fuel imports and shortages.