Business
Otedola to invest $100 million in Dangote Petroleum Refinery through private placement
Femi Otedola, the chairman and biggest shareholder of financial services group First HoldCo Plc, hopes to invest $100 million in the proposed private placement of Dangote Petroleum Refinery.
The billionaire tycoon made this known to journalists during a tour by the management team of First HoldCo to the refinery in Lagos on Wednesday.
“On a personal note, I have approved him. I’ve been here with him 25 times, so my compensation is that he’s going to allocate to me shares valued at $100 million in the private placement. That was one of the reasons I sold my shares in Geregu Power Plants — to invest in the IPO of Dangote Refinery,” Mr Otedola said of Aliko Dangote, Africa’s richest man and owner of the refinery.
Dangote Petroleum Refinery, Africa’s largest oil refinery, is raising $2 billion through a private placement targeting institutional investors and high-net-worth individuals.
READ ALSO: Billionaire, Femi Otedola, among writers shortlisted for BCA African Business Book 2026
A similar plan to source $5 billion through an initial public offering, equivalent to 10 per cent of its valuation, is also in the works. According to a Bloomberg report this month, the refinery is targeting a valuation of around $50 billion ahead of the planned share sales.
Mr Otedola noted that he hopes to invest part of the proceeds from the divestment of his shareholding in Geregu Power, an electricity generation company he took public in October 2022, in the private placement.
He sold his stake in the power company last December in a $750 million transaction.
The refinery is looking to list the shares from the planned offers across multiple stock exchanges through cross-border listings, opening them to investors in different markets.
Nigerian Exchange Group has intensified its investor education drive through a digital engagement initiative aimed at improving financial literacy and deepening retail participation in the Nigerian capital market.
The Group recently hosted an X Space session themed “Follow the Fundamentals: A Beginner’s Guide to the Stock Market,” reaching over 5,000 users, largely young Nigerians, first-time investors, and retail market participants seeking to better understand investment opportunities in the capital market.
Featuring social media investment influencer, Omiete Inko-Tariah, alongside representatives from Nigerian Exchange Limited and NGX Regulation Limited, the session demystified key concepts around market operations, investor protection, and safe participation. Beyond education, it served as an open forum where retail investors engaged directly with market stakeholders on issues of confidence, transparency, and accessibility.
Speaking on the initiative, Clifford Akpolo, Head, Group Communications and Partnerships at NGX Group, said: “Deepening retail participation is critical to building a more resilient, inclusive, and sustainable capital market. At NGX Group, we believe financial literacy is not just an educational responsibility, it is a strategic imperative for strengthening investor confidence, improving market accessibility, and expanding long-term wealth creation opportunities for Nigerians. Through digital platforms like this, we are leveraging innovation to connect with the next generation of investors and democratize access to market knowledge.”
The initiative forms part of NGX Group’s broader sustainability agenda under its Community pillar, which focuses on advancing financial literacy, inclusion, and economic empowerment through education-driven and stakeholder-focused programmes.
Following the success of this edition, NGX Group plans to sustain similar engagements as part of its ongoing commitment to strengthening investor confidence, deepening retail participation, and building a more resilient and inclusive investment ecosystem.
The post NGX Advances Investor Education Drive with Digital Retail Engagement Initiative appeared first on Business Today NG.
Business
FAAN announces additional health screening measures, enhanced Ebola surveillance at Nigerian airports
The Federal Airports Authority of Nigeria (FAAN) has assured travellers and other airport users that enhanced health surveillance measures have been activated across the country’s international airports following renewed Ebola concerns in parts of Central Africa.
In a statement issued on Wednesday, FAAN said the measures were introduced in collaboration with Port Health Services, the Nigeria Centre for Disease Control and Prevention (NCDC) and other relevant agencies to strengthen preparedness and prevent possible health risks.
According to the authority, surveillance and passenger monitoring have been intensified, particularly for travellers arriving from high-risk regions.
“Passengers are being screened for symptoms associated with Ebola, and any suspected case will be promptly isolated and subjected to secondary health checks in line with established national and international health protocols,” the statement said.
FAAN noted that additional emergency response procedures have also been reinforced while airport personnel have undergone increased sensitisation as part of precautionary efforts.
The authority stressed that there is currently no confirmed Ebola case in Nigeria but said it remains vigilant in safeguarding public health and ensuring safe airport operations.
“FAAN remains vigilant and fully committed to safeguarding public health and maintaining safe airport operations,” the agency stated.
READ ALSO: FAAN nabs four unauthorised persons at Akure airport
Passengers were also advised to remain calm, cooperate with health screening procedures and report any symptoms to health officials at the airports.
The development comes as health authorities across parts of Africa continue to monitor Ebola-related concerns and strengthen border surveillance to prevent cross-border transmission.
Nigeria’s aviation and health authorities have previously activated similar emergency screening measures during periods of global and regional disease outbreaks, including the COVID-19 pandemic and earlier Ebola scares.
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