Nigerian billionaires Femi Otedola and Abdul Samad Rabiu recently met in Dubai, where they discussed major deals reshaping Nigeria’s banking, power, and manufacturing sectors.
Otedola, chairman of First HoldCo Plc, had just completed a significant transaction, selling 77% of his stake in Geregu Power Plc for $750 million.
Meanwhile, Rabiu’s BUA Group is expanding its manufacturing, energy, and agribusiness footprint, with projects including a 22-megawatt gas-fired power plant and an integrated sugar complex.
Their meeting reflects the growing trend of African business leaders conducting deals and discussions away from home, with Dubai emerging as a hub for such conversations.
Both Otedola and Rabiu are managing companies at critical junctures, balancing large transactions with long-term commitments to their respective industries.
