FEMI Otedola, chairman of First HoldCo, has revealed plans to invest $100 million in the Dangote Refinery.
News Point Nigeria reprots that Otedola made the announcement on Wednesday after leading top executives of First HoldCo on a visit to the refinery.
The development comes barely a week after the billionaire businessman denied reports claiming he funded the Dangote Petroleum Refinery project.
At the time, Otedola clarified in a post on X that he had not invested any money in the refinery, insisting that he had not contributed “a single kobo, dollar, or naira” to the project.
The Dangote Group had also dismissed reports suggesting that prominent Nigerian business figures provided personal loans for the construction of the refinery.
However, following his latest visit to the facility, Otedola expressed interest in the refinery’s upcoming public offering and disclosed that he had requested a special allocation as part of his planned investment.
More details shortly…
