Business
Breaking: Battle on Buka Street’ Grosses N640mln
NollyWood Actress and filmmaker, Funke Akindele, is now officially the first and only filmmaker to rake in over ₦600 million twice at the Nigerian Box Office.
This is as a result of data from the Cinema Exhibitors Association of Nigeria (CEAN) which shows that the actress’ newly-released comedy-drama, ‘Battle on Buka Street’ has earned over ₦640 million after spending just nine weeks in theatres.
The 2022 flick is now the highest grossing Nollywood movie of all time. This title was previously held by ‘Omo Ghetto: The Saga’, also by Akindele.
She is now the only Nigerian filmmaker to make over ₦500 million twice at the local box office.
The movie crossed the ₦500 million threshold after making ₦507.78 million in its fourth week at the cinemas.
‘Battle on Buka Street’, which has dominated the Nigerian Box Office since its release on December 12, 2022, also earned more than $60,000 in the United States despite showing in only 11 locations. It was also released in the United Kingdom.
‘Battle on Buka Street’ is a comedy-drama that tells the story of two half-sisters who have been rivals for a while. Their rivalry intensifies when they both set up their food businesses on the same street.
It stars Funke Akindele, Mercy Johnson, Nkem Owoh, Sola Sobowale, Kelvin Ikeduba, Tina Mba, and others.
Source: TCN
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.
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