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  • Davido Begins Construction of ₦8bn Mega Mansion in Eko Atlantic

    Davido has commenced construction of a multi-billion naira mansion in the upscale Eko Atlantic area of Lagos.

    The Afrobeats star made the revelation during a recent visit to the construction site, where he disclosed that he purchased the land for ₦4 billion in January 2024.

    Property Value Reportedly Doubles

    According to Davido, the property has already appreciated significantly in value within a short period.

    The singer revealed that the land is now estimated to be worth about ₦8 billion, barely two years after purchase.

    The development has generated excitement online, with fans praising the singer’s growing real estate investments and luxury lifestyle.

    Inside Davido’s Luxury Mansion

    Davido disclosed that the mansion would feature a massive four-story structure designed specifically for his family and career needs.

    According to him, separate floors would reportedly be allocated to himself, his wife Chioma Rowland and their children to guarantee privacy within the home.

    The singer also revealed plans for a fully equipped in-house recording studio inside the mansion.

    Luxury Features Planned

    The upcoming property is also expected to include several luxury features often associated with high-end resorts.

    According to details shared during the site inspection, the mansion will reportedly have a large underground garage capable of accommodating up to 20 vehicles.

    Other planned features include a luxury swimming pool and dedicated residential quarters for domestic staff and security personnel.

    The video from the construction site has since gone viral online, with many Nigerians reacting to the scale and ambition of the project.

     

  • Otedola Commits $100m Stake in Dangote Refinery Amid Billion-Dollar IPO Plan

    Business mogul and Chairman of First HoldCo, Femi Otedola, has announced plans to invest $100 million in Dangote Refinery, marking a fresh boost to the multibillion-dollar energy project.

    Otedola made the disclosure on Wednesday after leading a delegation of top executives from First HoldCo on a visit to the refinery owned by Africa’s richest man, Aliko Dangote.

    The investment is part of a broader private placement exercise targeting about $2 billion ahead of the refinery’s eventual public listing.

    “Personal commitment to Dangote project”

    Otedola said his decision followed repeated engagements with Dangote and a personal interest in supporting the refinery’s expansion and long-term vision.

    He noted that his investment would come through allocated shares in the ongoing private placement, describing it as a strategic shift of his portfolio.

    According to him, “From a personal note, I’ve appealed to him. 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.”

    He also revealed that proceeds from the sale of his stake in Geregu Power would be redirected into the refinery investment.

    Dangote Refinery IPO plans gather momentum

    The development comes as Dangote Refinery prepares for a potential initial public offering (IPO), which could see up to 10 percent of the company floated on the market.

    Reports suggest the refinery could be valued at as much as $5 billion during listing, with projections pushing overall valuation toward $50 billion.

    Dangote has previously stated that the IPO is aimed at widening ownership and allowing more Africans participate in the continent’s industrial growth.

    Strategic push for energy investment

    Otedola’s latest move adds to growing investor confidence in the refinery, which is regarded as one of the largest single-train refineries in the world.

    Analysts say the investment signals renewed momentum in Nigeria’s downstream oil sector and could attract more high-net-worth participation ahead of the listing.

  • Tinubu Meets Global Investors in Paris, Pushes Reforms and Fiscal Discipline Agenda

    President Bola Tinubu has met with global investors in Paris, France, where he outlined his administration’s economic reform agenda and commitment to fiscal discipline.

    The meeting forms part of his ongoing three-nation trip aimed at strengthening investor confidence in Nigeria.

    Tinubu defends reform strategy

    Speaking at the session, Tinubu said his government’s policies are focused on removing economic distortions and stabilising key macroeconomic indicators.

    He stressed that transparency, especially in the oil sector, remains a priority, alongside broader efforts to ensure policy consistency.

    “The focus remains on policy stability and diligent execution to ensure these strategic shifts translate into concrete benefits for all Nigerians,” he said.

    Investors react to policy direction

    Some of the investors at the meeting commended the reforms and expressed optimism about Nigeria’s economic outlook.

    During the engagement, Tinubu also addressed questions about his long-term plans, including his post-2027 agenda, reaffirming his commitment to transparency and sustained policy execution.

    Finance minister highlights growth figures

    Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, pointed to improvements in key economic indicators.

    He disclosed that Nigeria recorded 11.2 per cent GDP growth in dollar terms in 2025, aligning with the government’s target of building a $1 trillion economy by 2030.

    Oyedele added that the administration would begin publishing quarterly financial data to strengthen accountability.

    Debt management and investor confidence

    Director-General of the Debt Management Office, Patience Oniha, assured investors of a responsible approach to borrowing.

    She said the government remains focused on sustainable debt management while supporting economic growth.

    The meeting brought together investors from major global institutions, including Citibank, Amundi, and Prudential Global Investment Management.