Mr Otedola noted that he is hoping to invest part of the proceeds of the divestment of his shareholding in Geregu Power, an electricity generation company he took public in October 2022, in the private placement.

Aliko Dangote hosted Femi Otedola and senior First HoldCo executives at the Dangote Refinery, highlighting collaboration for Africa's industrial future.

The Chairman of First HoldCo, Femi Otedola, has announced plans to invest $100 million in Dangote refinery.