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Nigerian billionaire Femi Otedola is set to invest $100 million in the Dangote Petroleum Refinery through a private placement. This significant investment was highlighted by a visit from Otedola and First HoldCo executives to the refinery.
Femi Otedola, through his special purpose acquisition company Calvados Global Services Limited, acquired 549.5 million shares in First HoldCo for N43.4 billion, with each unit priced at N79.
First HoldCo Plc announced significant financial growth, with gross earnings reaching N3.4 trillion for the full year ended December 31, 2025. The company also sustained strong revenue momentum, increasing gross earnings to N942 billion in the first quarter of 2026.