Mr Femi Otedola expanded his First HoldCo Plc stake to 18.12% in 2025, becoming one of the company’s largest shareholders.
Over the year, he acquired 3.82 billion additional shares.
Consequently, the increase appeared in First HoldCo’s 2025 financial statement published on the Nigerian Exchange on January 30, 2026.
Otedola now owns 8.05 billion shares, more than double his 2024 holding of 4.23 billion.
Therefore, he joins RC Investment Management Limited, which controls a 23.47% stake, as one of the company’s two dominant shareholders.
Direct Vs Indirect Holdings
He directly controls 3.25 billion shares, up from 1.68 billion in 2024.
This represents a 7.31% direct stake, more than double the previous year.
Meanwhile, he increased his indirect holdings to 4.80 billion units, from 2.54 billion in 2024.
Combined, these stakes give him 18.12% of the company, solidifying his influence.
Otedola December Share Surge
In December, Otedola’s company, Calvados Global Services, bought ₦14.8 billion worth of First HoldCo shares.
The deal involved 369,986,122 shares at ₦40.06 each, disclosed on the Nigerian Exchange.
Consequently, daily trading volume jumped to 385.6 million shares, boosting market activity.
First HoldCo shares rose from ₦40 to ₦53 by December 24, 2025.
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As a result, the month’s gain reached 54%, contributing to a 70.77% increase for the year.
Market Strategy And Performance
Otedola also sold his Geregu Power stake in a $750 million transaction.
These moves reflect his strategy to consolidate influence and capitalise on market momentum.
First HoldCo reported a pre-tax profit of ₦229.097 billion in 2025, down 71% from ₦796.461 billion in 2024.
Similarly, profit after tax fell 93% to ₦44.98 billion, compared with ₦677.005 billion previously.
The stock declined 2.5% on January 30, 2026, closing at ₦45 and marking a 6.05% year-to-date loss.
Despite weaker earnings, Otedola retains his position as a key shareholder alongside RC Investment Management.
Consequently, his growing stake strengthens his control and positions him to influence First HoldCo’s future.
