Femi Otedola’s investments in First Bank of Nigeria Holdings (FBN Holdings) and Geregu Power Plc have produced large returns.
Otedola’s wealth has increased significantly in the last two weeks, thanks to a stunning increase in the market value of his stakes in these two companies, cementing his position among Africa’s wealthiest individuals.
Otedola’s 5.65% investment in FBN Holdings, a Lagos-based financial services holding company, has climbed by $8.6 million in the last two weeks.
First Bank of Nigeria Limited, the country’s oldest commercial bank with operations in ten countries, is the parent business of FBN Holdings.
Otedola is the largest individual stakeholder in FBN Holdings, with a stake of 2,029,376,358 shares. The group’s financial performance has reaffirmed its reputation as one of Nigeria’s leading lenders since he became a stakeholder in 2021.
FBN Holdings’ share price has risen by 21% in the last 14 days, rising from N16 ($0.0203) on Oct. 25 to N19.35 ($0.0246) at the time of this publication. This has increased the lender’s market value above $800 million.
As a result, Otedola’s shareholding in FBN Holdings has expanded dramatically in the last two weeks, rising from N32.47 billion ($41.26 million) on October 25 to N39.27 billion ($49.9 million).
Concurrently, Otedola’s majority ownership in Geregu Power Plc, a major participant in Nigeria’s energy producing sector, has grown significantly.
His interest in Geregu Power has increased in market value by N192.31 billion ($251.45 million), from N752.51 billion ($983.95 million) on October 23 to N944.82 billion ($1.23 billion) at the time of this report. This is due to a 25.5 percent increase in Geregu Power shares.
Femi Otedola’s latest investments in FBN Holdings and Geregu Power cement his position as one of Africa’s wealthiest people, showcasing his astute investment expertise in Nigeria’s finance and energy industries.
Otedola’s success in these businesses demonstrates not only his expertise in the banking and energy industries, but also the potential for big profits for investors in Nigeria’s thriving market.