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Billionaires Hangout, Abuja (2026)

08/11/2025

⛽ Aliko Dangote Reduces Petrol Prices to Ease Holiday Travel Pressure .

Africa’s richest man, Aliko Dangote, has once again stepped in to support Nigerians by reducing petrol prices at his world-class Dangote Refinery by 5.6%, bringing relief ahead of the festive season.

Starting Friday, the refinery began selling Premium Motor Spirit (PMS) at ₦828 ($0.57) per litre — down from ₦877 ($0.61). This marks the second major price reduction in just three months, reflecting global oil market adjustments and improved local supply efficiencies.

With a daily output of over 45 million litres of petrol and 25 million litres of diesel, the Dangote Refinery continues to play a critical role in stabilizing Nigeria’s energy sector.

In a major innovation, the refinery has also introduced a fleet of CNG-powered trucks to enhance nationwide fuel distribution — a move expected to save Nigeria about ₦1.7 trillion ($1.13 billion) annually in transport costs and create over 15,000 new jobs.

Commissioned in 2024, the refinery currently operates at 350,000 barrels per day and aims to scale up to 1.4 million barrels daily within three years, solidifying its position as Africa’s largest refinery complex.

Dangote’s latest move not only supports motorists and businesses but also reinforces his reputation as a visionary industrialist driving Nigeria’s economic transformation.

08/11/2025

The Billionaire Powering Africa’s Energy Future ⚡

Benedict Peters is one of Nigeria’s most successful and influential billionaires, best known as the visionary founder and CEO of Aiteo Group, one of Africa’s largest indigenous oil and gas companies. His rise from humble beginnings to becoming a global energy magnate showcases the power of determination, innovation, and strategic leadership.

Early Life & Education:

Born in Onicha-Ugbo, Delta State, Nigeria, Benedict Peters studied Geography and Regional Planning at the University of Benin (UNIBEN). His early exposure to Nigeria’s oil-rich region shaped his passion for energy and business development.

Career & Business Empire:

Peters began his career at Shell Petroleum Development Company (SPDC) and later worked with Ocean and Oil Limited (now Oando Plc), gaining deep industry experience before founding Aiteo Group in 2008.
Under his leadership, Aiteo has grown into a multi-billion-dollar conglomerate with investments in:

-Oil and Gas Exploration & Production.

-Energy Infrastructure & Power Generation.

-Mining and Agriculture.

-Banking and Real Estate.

Aiteo is currently one of Nigeria’s largest indigenous oil producers, operating major oil blocks and pipelines, including the Nembe Creek Trunk Line, a vital national energy asset.

Global Recognition:

Benedict Peters has been recognized globally for his contributions to Africa’s energy growth and sustainability. He was named “Africa’s Oil and Gas Leader of the Year” by the Forbes Best of Africa Awards and continues to champion local content development and youth empowerment across Nigeria.

Net Worth:

As of 2025, Benedict Peters’ estimated net worth is around $2.7 billion, making him one of the richest men in Nigeria and a key figure in Africa’s private energy sector.

Philanthropy & Impact:

Through the Benedict Peters Foundation, he supports education, healthcare, sports, and community development projects across West Africa. His philanthropic initiatives focus on empowering local communities and creating sustainable opportunities for young Africans.
Benedict Peters embodies the future of African entrepreneurship — blending vision, innovation, and social impact to transform the continent’s energy landscape.

08/11/2025

Nigerian Business Icon and Champion of Ethical Entrepreneurship 🇳🇬

Peter Gregory Obi is one of Nigeria’s most respected businessmen, celebrated for his sharp intellect, disciplined leadership, and unmatched success in the corporate world. Born on July 19, 1961, in Onitsha, Anambra State, Obi’s life story is a testament to integrity, innovation, and enterprise.

Early Life & Education:
Peter Obi attended Christ the King College, Onitsha, before earning a degree in Philosophy from the University of Nigeria, Nsukka in 1984. A lifelong learner, he also completed executive programs at Harvard Business School, London School of Economics, Columbia Business School, and the University of Oxford.

Business Career & Achievements:
Before gaining national prominence, Obi built a sterling career in banking and corporate management. He served in leadership positions across major financial institutions, including:

*Fidelity Bank Plc – where he rose to become Chairman.

*Guardian Express Bank, Future View Securities, and Next International (Nigeria) Ltd – his privately-owned import and distribution company with interests in consumer goods, retail, and global trade.

His exceptional business acumen transformed Next International into one of Nigeria’s most efficient and transparent trading firms, with strong ties across Africa and Europe.

Peter Obi is also known for his investments in banking, manufacturing, hospitality, and education, positioning him among Nigeria’s top business elites who have built wealth through ethical entrepreneurship and sound financial management.

Net Worth:
Peter Obi’s estimated net worth stands at around $10 million – $20 million, derived from his wide-ranging business interests and prudent investments. Known for his modest lifestyle and emphasis on value creation, Obi exemplifies financial discipline and long-term wealth building.

Legacy & Impact:
Beyond his business empire, Peter Obi is a strong advocate for corporate governance, accountability, and economic diversification. His career remains an inspiration for young Nigerians aspiring to build success through integrity, education, and smart investment decisions.

A visionary entrepreneur and a model of simplicity, Peter Obi represents the power of principled business leadership in shaping Nigeria’s economic future.

08/11/2025

Nigerian Executive Chuka Mordi Leads Ellah Lakes’ $163 Million Expansion Drive for Agro-Industrial Growth 🚜

Visionary entrepreneur Chuka Mordi, CEO of Ellah Lakes Plc, is steering the company toward regional agro-industrial dominance with an ambitious $163 million (₦235 billion) public offer aimed at scaling production and strengthening Nigeria’s agribusiness sector.

The integrated agro-industrial firm plans to expand operations across over 30,000 hectares of farmland in Enugu, Edo, Ekiti, and Ondo States, marking a major step in its mission to transform Nigeria’s agricultural landscape.

According to Mordi, the capital raise is a strategic move designed to boost capacity, enhance processing infrastructure, and position Ellah Lakes as one of West Africa’s most competitive indigenous agribusinesses.

Under his forward-thinking leadership, the company has successfully diversified into oil palm, cassava, and piggery, supported by modern facilities and strong partnerships that promote sustainability and local value creation.
With this bold expansion, Ellah Lakes Plc is not just investing in agriculture — it’s cultivating a future of food security, industrial growth, and economic empowerment across Nigeria.

08/11/2025

Nigeria’s Richest Woman, Folorunsho Alakija, Donates Ultra-Modern Hospital to Osun State 🇳🇬

Billionaire businesswoman and philanthropist Folorunsho Alakija, Nigeria’s richest woman, has once again demonstrated her deep commitment to humanity by donating a newly constructed hospital to the Osun State Government.

The modern healthcare facility was officially handed over in a special ceremony attended by state officials, who praised Alakija’s generosity and vision. The hospital is designed to provide quality medical services to underserved communities that have long struggled with limited healthcare access.

Alakija continues to make a powerful impact through her philanthropic foundations — the Rose of Sharon Foundation and Flourish Africa — which empower widows, orphans, and women entrepreneurs across Nigeria.

Known globally for her success in Famfa Oil, fashion, and real estate, Folorunsho Alakija stands as a shining example of how wealth and compassion can transform lives.

Her latest act of generosity reinforces her legacy as not just a billionaire, but a beacon of hope and change in Nigerian society.

07/11/2025

The Esama of Benin and One of Nigeria’s Pioneer Billionaires 🇳🇬

Chief Gabriel Osawaru Igbinedion, fondly known as the Esama of Benin Kingdom, is one of Nigeria’s most accomplished and respected businessmen. Born on September 11, 1934, in Okada, Edo State, he rose from humble beginnings to become one of the nation’s earliest indigenous billionaires — a symbol of hard work, vision, and perseverance.

Early Life & Education:
Chief Igbinedion began his journey in the mid-20th century, starting his career in the civil service before venturing into business. Despite limited formal education, his sharp business instincts and resilience laid the foundation for a vast business empire.

Business Empire:
Chief Igbinedion is the founder and chairman of the Igbinedion Group of Companies, a conglomerate with interests across multiple sectors, including:

Aviation – Okada Air, one of Nigeria’s first privately owned airlines, established in 1983.

Education – Igbinedion University, Okada, founded in 1999, the first private university in Nigeria.

Media – Independent Television (ITV) and Radio, based in Benin City.

Real Estate, Banking, Oil & Gas, and Hospitality, with major investments spread across Nigeria and beyond.

Philanthropy & Influence:
Beyond business, Chief Igbinedion is celebrated for his philanthropic contributions, especially in education, health, and community development. His foundation has supported thousands of students through scholarships and empowerment programs. As Esama of Benin, he holds a revered traditional title and remains a key figure in promoting Benin culture and heritage.

Net Worth:
While his exact net worth is not publicly confirmed, estimates place Chief Gabriel Igbinedion’s fortune in the range of $600 million to $1 billion, placing him among Nigeria’s wealthiest traditional and business leaders.

Legacy:
Chief Igbinedion’s legacy extends beyond wealth — he paved the way for private enterprise and education in Nigeria. His family continues his legacy, with his son, Lucky Igbinedion, serving as a former governor of Edo State.

A true pioneer, Chief Gabriel Igbinedion remains a living legend — a man who built an empire from the ground up and opened doors for future generations of Nigerian entrepreneurs.

07/11/2025

Nigerian Executive, Dalu Ajene, Appointed CEO of Rand Merchant Bank Nigeria 🇳🇬

A proud moment for Nigeria as Dalu Ajene, a distinguished banking professional from Nnewi, Anambra State, takes the helm as Chief Executive Officer (CEO) of Rand Merchant Bank Nigeria (RMBN) effective November 1, 2025.

Before his elevation, Ajene served as Head of Client Coverage at Rand Merchant Bank (RMB) in South Africa, overseeing client origination teams across South Africa, broader Africa, and the United Kingdom. He previously held the roles of Deputy CEO and Head of Investment Banking at RMBN, where he also led the Corporate Finance Division.

With over 21 years of global banking experience, Dalu Ajene has successfully executed transactions valued at over $15 billion across North America, Europe, the Middle East, and Africa — showcasing his deep expertise in advisory, capital markets, and financing.

Ajene is an alumnus of the prestigious Harvard Business School, where he earned his MBA in Finance and Strategy, and Dartmouth College, where he obtained his Bachelor’s degree in Economics.

As CEO, he is set to lead RMBN’s next phase of growth, innovation, and expansion in Nigeria.
Rand Merchant Bank (RMB), a division of FirstRand Bank Limited, stands as one of Africa’s leading corporate and investment banks, operating across 25+ African countries with international offices in the UK, India, China, and the Middle East. RMBN first launched in Lagos in 2012 and recently expanded with a new office in Abuja.

👏 Congratulations to Dalu Ajene — a shining example of Nigerian excellence on the global financial stage!

07/11/2025

Nigeria’s Real Estate King and Billionaire Philanthropist.

Sir Olu Okeowo is one of Nigeria’s most prominent real estate moguls, widely celebrated for his luxurious developments and contributions to urban transformation. As the founder and chairman of Gibraltar Construction Nigeria Limited, Okeowo has built an empire rooted in excellence, quality, and class — earning him the title of “Nigeria’s Real Estate King.”

Born into a modest family in Ijebu Ode, Ogun State, Sir Olu Okeowo rose from humble beginnings to become one of the most successful property developers in West Africa. His company, Gibraltar Construction, specializes in high-end residential estates, luxury mansions, and commercial complexes, shaping skylines across Lagos and beyond.

A devout Christian and philanthropist, Sir Okeowo is known for his generosity, community development projects, and strong moral values. He often speaks about the importance of integrity, faith, and giving back to society.

Among his iconic developments is the Palacio de Okeowo, his lavish mansion in Ikoyi — a masterpiece that symbolizes success, elegance, and hard work.

With an estimated net worth of over $400 million, Sir Olu Okeowo stands tall among Nigeria’s elite billionaires, admired for his discipline, resilience, and unmatched vision in the construction industry.

From humble roots to real estate royalty, Sir Olu Okeowo is a symbol of grace, grit, and greatness.

07/11/2025

The Billionaire Who Built Coscharis from ₦200

Dr. Cosmas Maduka, fondly known as “The Billionaire Mechanic,” is one of Nigeria’s most inspiring self-made entrepreneurs. Born on December 24, 1958, in Jos, Plateau State, to Igbo parents from Nnewi, Anambra State, Maduka’s journey from street hawker to billionaire businessman is a story of resilience, faith, and determination.

At just 12 years old, he dropped out of school to support his family after his father’s death. Starting as an automobile apprentice, he learned the ropes of car repair before venturing out to create his own path in business.

In 1977, with only ₦200, he founded Coscharis Motors Limited, a company that would later grow into Coscharis Group, one of Nigeria’s largest conglomerates. Today, Coscharis Group has interests spanning automobile distribution, agriculture, ICT, manufacturing, and finance.

The company is the exclusive distributor of luxury brands such as BMW, Ford, Jaguar, Land Rover, and Rolls-Royce in Nigeria — making it a powerhouse in the nation’s automotive industry.

Dr. Maduka’s estimated net worth is over $800 million, positioning him among Africa’s most successful industrialists. Beyond business, he is a devout Christian, philanthropist, and motivational speaker who continues to inspire millions with his life story of hard work, integrity, and grace.

From mechanic to mogul — Dr. Cosmas Maduka embodies the true spirit of African entrepreneurship.

07/11/2025

Alhaji Umaru Kwabo, MFR, is one of Northern Nigeria’s most respected industrialists and entrepreneurs. Over the years, he has built a strong legacy in construction, real estate, oil and gas, and logistics, earning recognition as a symbol of integrity, vision, and economic empowerment.

Hailing from Sokoto State, Alhaji Kwabo has contributed immensely to regional development, creating employment opportunities and supporting education, healthcare, and community development projects. His hard work and service to humanity earned him the national honor of Member of the Federal Republic (MFR), a testament to his influence and dedication.

Through his flagship company, Kwabo Group of Companies, he has invested in key sectors such as infrastructure, agriculture, and transportation — helping to strengthen Nigeria’s economic foundation.

With an estimated net worth of over $100 million, Alhaji Umaru Kwabo remains one of the most prominent business figures in Northern Nigeria. His commitment to empowering the youth and promoting entrepreneurship continues to inspire a new generation of African leaders.

A true example of success built on vision, discipline, and service to humanity.

06/11/2025

🌍 WTO Chief Ngozi Okonjo-Iweala: Africa Must Cut Trade Costs and Boost Regional Growth.

World Trade Organization (WTO) Director-General Dr. Ngozi Okonjo-Iweala has revealed that it currently costs African nations nearly 20% more to trade with one another than with countries outside the continent — a gap she says must be urgently addressed.

She emphasized the need for the swift implementation of the African Continental Free Trade Area (AfCFTA) to dismantle trade barriers, enhance regional value chains, and create a truly integrated African market.

Okonjo-Iweala also urged massive investments in technology, education, and infrastructure, noting that these are essential drivers to unlock the continent’s economic potential and competitiveness.

Despite persistent structural hurdles, the WTO chief remains deeply optimistic about Africa’s future — driven by its young, innovative, and entrepreneurial population.

06/11/2025

AMCON Moves on Nduka Obaigbena’s Oil Company Amid Loan Dispute.

Nigeria’s Asset Management Corporation (AMCON) has officially taken over General Hydrocarbons Limited (GHL) — the oil firm owned by media mogul Nduka Obaigbena — following a loan dispute with First Bank, which is now chaired by billionaire Femi Otedola.

The receivership marks a major setback for Obaigbena, whose business empire spans across media and energy. Analysts warn the move could ripple into his other flagship ventures — Arise Television and ThisDay Newspaper — as financial pressures mount.

In a notice dated November 6, 2025, AMCON-appointed receiver Oluseyi Akinwunmi instructed all creditors to file claims within 30 days and announced the freezing of GHL’s bank accounts. The dispute reportedly stems from unresolved obligations tied to Oil Mining Lease 120.

While GHL insists that a court injunction is still in effect preventing enforcement, the public receivership notice suggests that legal and financial tensions are escalating.

Observers believe this development could test Obaigbena’s resilience and his ability to shield his influential media brands from creditor actions in the coming months.

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