Menu
Home
Forums
New posts
Search forums
What's new
Featured content
New posts
New media
New media comments
New resources
Latest activity
Media
New media
New comments
Search media
Resources
Latest reviews
Search resources
Misc
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Labrish
Nyuuz
Nigerian billionaires flex hard, reserves hit $45 billion
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Munyaradzi Mafaro, post: 80616, member: 636"] It was a big year for Nigerian money guys. The country's economic scene saw major moves from its top business figures, led by Aliko Dangote. His wealth jumped over two billion dollars, partly thanks to a new cement plant in Côte d'Ivoire. His massive Lagos oil refinery began petrol production and announced plans to list on the Nigerian exchange, while also sparking a fuel price war and legal battles with regulators. Abdul Samad Rabiu of BUA Group saw his fortune grow significantly, and he distributed millions in cash rewards to long-serving employees. Mike Adenuga's Conoil proposed a large dividend payout after strong revenue growth. Femi Otedola strengthened his controlling stake in First Bank's holding company. Tony Elumelu's Transcorp Group posted major revenue increases, and his Heirs Energies secured a large credit facility. He also engaged in diplomatic outreach with foreign investors. On the policy side, Central Bank Governor Yemi Cardoso oversaw a surge in national external reserves past forty-five billion dollars, a six-year high, which helped stabilize the currency. The government also saw overwhelming demand for a Eurobond issuance. At the state oil company NNPC, Group CEO Bashir Ojulari highlighted a record daily crude production level, the highest in decades. Corporate merger and acquisition activity was notable, including deals in the food and banking sectors. Guaranty Trust Bank also achieved a milestone by listing on the London Stock Exchange. [/QUOTE]
Insert quotes…
Name
Post reply
Home
Forums
Labrish
Nyuuz
Nigerian billionaires flex hard, reserves hit $45 billion
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…
Top