Nigerian billionaire Mike Adenuga

Nigerian business magnate Mike Adenuga has witnessed a surge in the market value of his stake in Conoil Plc over the last two months as renewed buying interest in the company shares following its impressive financial performance sent its shares flying on the Nigerian Exchange. According to data tracked by Billionaires.Africa, Adenuga, who currently ranks as Nigeria’s third-richest man after being displaced by Abdul Samad Rabiu in October 2022, has seen the value of his Conoil stake rise by N10.5 billion ($22.82 million) since the start of the year. Conoil is a leading petroleum marketing firm that offers a range…