Business

AVRS Holds Stakeholders’ Forum in Port Harcourt for Copyright Owners and Users in South-South Nigeria

Published

3 years ago

September 5, 2023

Audio Visual Rights Society of Nigeria, AVRS, Nigeria’s sole collective management organisation for audiovisual works, is hosting a stakeholders’ forum in Port Harcourt to educate and enlighten copyright owners and users in the South-South region of Nigeria.

The forum aims to emphasize the importance of meeting copyright obligations, promote partnerships, and boost investments in the audiovisual sub-sector.

The select stakeholders’ forum which is scheduled to hold at the prestigious Le’Meridien Hotels (Ogeyi Place), GRA Phase II in the heart of Port Harcourt will be an important gathering of creators, actors, producers, filmmakers, hotels, restaurants, television stations, transport companies, video streaming services, OTT platforms, etc in Rivers State and its surrounding states.

According to a statement made available to TCN, the forum will also be attended by officials of the Nigerian Copyright Commission, the Federal government agency responsible for copyright regulation, administration and enforcement in Nigeria.

Speaking on the upcoming event, filmmaker and Chairman of AVRS, Mr. Mahmood Ali-Balogun said, “the Forum is aimed at providing continuous education and enlightenment on the need for commercial and public users of audiovisual works to meet their copyright obligations to AVRS in line with the extant laws. Such compliance from the users ensures that filmmakers and copyright owners in the film sectors are compensated for their creativity and labour. It also helps in boosting investments in the audiovisual sub-sector and performance of Nigeria’s creative economy at large.”

He added that “the Forum would also provide AVRS the opportunity to initiate functional partnerships with Rivers State Government, hotel unions, broadcast organizations and other relevant stakeholders in Rivers State and neighbouring States in the South-South and South Eastern parts of the country.”

The AVRS Select Stakeholders’ Forum has been held several times in Lagos, Abeokuta, Abuja, Kano and Benin among others.

The event would be coming up on Tuesday, September 19, 2023.

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Business

Dangote Refinery Sets ₦525 Share Price for Landmark IPO

Published

4 weeks ago

September 5, 2026

Basit Saba

Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.

The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.

The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.

The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.

The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.

The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.

The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.

The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.

The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.