Business

Malaika took me almost two months to produce, Toyin Abraham reveals (Video)

Published

3 years ago

January 17, 2024

A Nigerian actress and movie producer, Toyin Abraham Adeyemi, has revealed that it took her just two months to produce her alleged N500 million budget movie, Malaika.

Also read: Tinubu hails Funke Akindele, creative industry

She made this revelation during a chat with the media while addressing the disturbing thread of piracy in the Nollywood industry.

A victim of piracy herself, Toyin, as she simply called, lamented how her N500 million budget movie was leaked on Telegram and how she was able to salvage it with the help of her team.

“If you look at me, I’m actually not okay. I’ve to come from the hospital; I’ve been having panic attacks. It’s not easy shooting a movie for close to N500 million and just seeing it out there.

“I saw my movie and another movie, and I thought I was dreaming, and they said, ‘No, you’re not dreaming,’” she said.

She went on to disclose that the hackers announced on Telegram that they were going to upload the movie by 12, which they eventually did.

When asked how long it took her to produce the movie, Toyin responded that it took her almost two months.

“I shot Malaika for two months, almost two months,” she replied.

By a comparative analysis, on average, Hollywood studio movies are shot within 30 to 120 days, with outliers falling below or above this range. The length of principal photography depends greatly on the scale, genre, and length of a film.

“Lift,” the new Kevin Hart-led heist thriller now streaming on Netflix, took approximately five months; between March and July 2022 to be precise, for filming with a $100 million budget.

Toyin further disclosed that her advocacy against movie piracy isn’t about her interests alone but for the general good of the industry.

“This is not about Malaika or any movie in the cinema; it is not about tribe. It’s about the creative industry; it’s about the entertainment industry. Because this is the only thing we do,” she stated.

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Business

Dangote Refinery Sets ₦525 Share Price for Landmark IPO

Published

2 months 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.