The Chairman of First HoldCo, Femi Otedola, has revealed he will invest $100 million in Dangote Refinery
The multi-billionaire businessman announced this on Wednesday after leading top executives of First HoldCo to Dangote refinery.
Otedola’s planned investment is part of the $2 billion private placement Dangote Refinery is targeting from private investors ahead of the Initial Public Offering (IPO), which has no date yet.
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He said: “On a personal note, I’ve appealed to him (Aliko Dangote).
“I’ve been here with him 25 times.
“So my compensation is he’s going to allocate to me shares worth $100 million in the private placement.
“That’s one of the reasons why I sold my stake in Geregu Plant to come and invest my proceeds in the IPO of Dangote refinery.”
Dangote on October 22, 2025 said the refinery could sell up to 10 percent stake in the listing, which Bloomberg valued to be about $5 billion.
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Source:Eagle online
