Business

Onny Michael shows off his multimillion naira mansion

Published

4 years ago

January 29, 2023

It has been flooding in congratulations for Nollywood actor Onny Michael as he just unveiled his multi millions mansion.

The excited new landlord posted the photo and video of his new building on his verified Instagram page and captioned it, “God did it .. I thank God for this one.”

Since his post, his colleagues and followers on social media have been flooding his comment section with well wishes and congratulatory messages.

Zubby Michael wrote: Ogini Nebor Nebor. Congratulations Nwanne.

Destiny Etiko wrote: A Big congratulations bro.

Frederick Leonard wrote: Congratulations Nwanne.

sexysarraphina_ wrote: Waooooo congratulations onyem

Chizzy Alichi wrote: Congratulations my Gee.

mary.igwe wrote: Congratulations Nwokeoma, this is huge👏👏👏🎉

Walter Anga wrote: Na man you be. Congratulations my bro.

Just a few days ago, Skit maker, Isaac Aloma Junior popularly known as Zicsaloma got himself a luxurious car to mark the beginning of a New Year, 2023.

Sharing the good news on his verified Instagram page, Zicsaloma shared photos of the beautiful ride and captioned it: “My New Baby.”

His post has generated lots of congratulatory messages from fans and colleagues in the entertainment industry.

It would be recalled that late 2022, Zicsaloma bought himself a beautiful mansion in Lagos to mark his birthday.

The excited Funny Man shared the good news on his verified Instagram page on Monday, October 7, 2022 where he also asked friends and fans to credit his bank account so he would have a memorable birthday.

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Business

Dangote Refinery Sets ₦525 Share Price for Landmark IPO

Published

2 months ago

September 5, 2026

Basit Saba

Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.

The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.

The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.

The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.

The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.

The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.

The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.

The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.

The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.