Business
HON. SHINA PELLER’S HEADACHE
Shina Peller’s name is synonymous with night club business in Nigeria.
Having plied his trade for some years, the CEO of Aquila Group of
Companies has redefined the face of the business to the admiration of
all.
His entry into the business had been hailed by many who know his
antecedent as an accomplished entrepreneur.
From the outset, his vision was clear and his strategies were also
realistic.
Consequently, since Quilox Nite Club kicked-off five years ago, he has
proven that he has that Midas touch to change the clubbing business in
Nigeria.
Quilox has become a fun spot for top businessmen, politicians and
die-hard fun lovers, among others, from across social divides.
However, the outfit, which is regarded as one of the biggest and most
luxurious in the continent of Africa, seems to be gradually losing its
lustre.
www.crystal.com.ng [1] gathered that since the Oyo State-born
businessman won election into the House of Representatives, the club has
suffered a serious decline in status. It has allegedly lost patronage
of its many patrons, as Peller’s attention seems to be divided now.
The source disclosed further that the upscale fun place might be
relocating away from its present location on Ozumba Mbadiwe, as Peller
has fallen out with the real owner of the building, who is a newly
elected governor of a state in the South Western region of Nigeria.
Our source also disclosed that the upwardly mobile man is also thinking
of replicating the type of club in Abuja.
“He is currently doing visibility study in the Federal Capital
Territory for the possibility of establishing Quilox.”
The top socialite is also the Chairman/Chief Executive Officer of Aquila
Oil and Gas Limited, a new-generation, systems-driven oil and gas firm
that has made a strong presence in the oil sector in its 12 years of
existence.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
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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