Business
Odunlade Adekola’s ORISA hits N100Million in Box Office
ORISA, a movie by renowned Nollywood actor Odunlade Adekola, has made a groundbreaking achievement by surpassing the N100 million mark at the box office.
The film, which was released on July 21, 2023, has attracted massive audiences nationwide and has become a topic of conversation in the Nigerian film industry.
ORISA, directed by talented filmmaker Segun Ogungbe, revolves around the story of a king, who becomes rogue and loses respect for the gods and the people. This predicament befalls him at a time when a terrorist, who he once struck a deal with, returns to forcefully take over the kingdom.
The movie combines elements of drama, action, and suspense, captivating viewers with its gripping storyline and exceptional performances.
Since its release, ORISA has received rave reviews from both critics and audiences.
Its success can be attributed to the outstanding performances of the talented cast, which includes Odunlade Adekola himself in the lead role, alongside other gifted actors such as Femi Adebayo, Shaffy Bello, Jide Kosoko, Dele Odule, Muyiwa Ademola, and Eniola Ajao.
The movie’s impressive box office performance reflects the growing popularity and influence of Nollywood films.
Nigerian audiences have shown a deep appreciation for local productions, embracing the unique storytelling and cultural elements woven into these films.
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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