Austin Laz & Company Plc is a Nigerian engineering and manufacturing conglomerate. They specialize in producing industrial ice block machines, refrigerators, air conditioners, aluminum roofing sheets, and thermoplastic products like coolers.
In an address of welcome, the Managing Director and Chief Executive Officer of Nestlé Nigeria PLC, Wassim Elhusseini, said that sustainable access to quality nutrition can only be achieved through resilient value chains supported by long-term investments in sourcing, manufacturing, distribution, livelihoods, and environmental sustainability.
In the parallel market, also known as the black market, the dollar traded at around ₦1,390 to ₦1,397 for selling, while buying rates hovered between ₦1,385 and ₦1,390 depending on location and transaction volume.
According to the company, it had entered into an agreement with Barclays Capital Securities Limited to execute the programme through on-market purchases of its ordinary shares, which would subsequently be acquired by the company.
Bureau De Change operators in Lagos and Abuja quoted the dollar at around ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling.
“Our target really is to get the larger part of the society to buy. Because it is a very good… I think it’s better you buy… you are looking at this now, people don’t know we are going to have 10 percent of the entire America’s production in terms of refining,” the billionaire said.
That’s one of the reasons I sold my stake in Geregu plant to come and invest my proceeds in the IPO of Dangote refinery,” said Otedola
The planned IPO is expected to involve the sale of about 10 percent equity in the refinery through what the Dangote Group has described as a pan-African public offering.
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President Tinubu disclosed that Nigeria would spend about $11.6 billion on debt servicing in 2026, representing nearly half of projected government’s revenue.
