Business
Dangote Regrets Not Buying Arsenal for $2B
Aliko Dangote, Chairman of the Dangote Group, has expressed his regret over missing the opportunity to purchase Arsenal Football Club for $2 billion.
Speaking during an interview with Bloomberg’s Francine Lacqua in New York, Dangote acknowledged that the window for acquiring the Premier League team had likely closed.
Reflecting on past ambitions, Dangote explained that he had once seriously considered buying the club after completing his refinery project.
However, the rapid increase in football club valuations and Arsenal’s current success made the acquisition less feasible.
He pointed out that when he initially entertained the idea, Arsenal was not performing well on the field, making the purchase more attractive at the time.
Now, with the club’s value reportedly soaring to $4 billion, Dangote noted that he no longer has the excess liquidity to pursue such a venture.
He emphasized that his resources were better utilized in completing his business projects, which he viewed as more critical to his overall strategy.
While the opportunity to buy Arsenal has passed, he remains a passionate supporter of the club, continuing to follow their games and cheer them on as a devoted fan.
Despite his regret over not seizing the opportunity earlier, Dangote reiterated that his decision was influenced by practical considerations.
He expressed satisfaction with his role as a fan and major supporter, acknowledging that the money used to purchase the club could have been better spent on his various business ventures.
Looking back, he admitted that Arsenal’s rising fortunes have only deepened his sense of missed opportunity, but he remains committed to focusing on his core business interests moving forward.
The cost of refilling a 12.5kg cylinder of cooking gas in Nigeria went up slightly in May 2025, rising by 2.18% compared to the previous month. The average price now stands at N20,709.11, up from N20,268.06 recorded in April. This update was captured in the latest Liquefied Petroleum Gas (LPG) Price Watch report for May, released by the National Bureau of Statistics (NBS).
According to the report, Delta State topped the list with the highest refill price at N23,356.56, followed by Abia at N22,953.01, and Ebonyi at N22,943.30. On the other hand, residents in Yobe, Lagos, and Kebbi states paid the least, with refill prices of N18,500, N18,536, and N18,606.60, respectively.
When compared to the same period last year, gas prices have jumped significantly, rising by 32% from N15,627.40 recorded in May 2024 to the current average. The NBS is yet to release figures for June 2025.
Customers of Guaranty Trust Holding Company (GTCO) across Nigeria should brace for early branch closures on Monday, June 30, 2025, as the banking group kicks off its routine half-year audit.
In an official announcement shared on their verified X (formerly Twitter) page, GTCO informed customers that all their branches nationwide will stop attending to walk-in customers earlier than usual to allow for internal review processes.
The bank assured the public that this temporary adjustment is strictly for operational reasons tied to their mandatory half-year audit, a common practice among financial institutions to check financial records, processes, and compliance levels.
While in-person services will pause earlier that day, GTCO encouraged customers to make use of their digital banking platforms. Options such as internet banking, mobile apps, ATMs, and USSD codes, which will remain available 24/7 for essential banking transactions.
MRS filling stations, a key partner of Dangote Refinery, has announced a new petrol price hike, raising its pump prices across the country. In a price update shared on its official X page on Saturday, the company revealed that the new rates now range from N925 to N955 per litre, up from the previous N825 to N895 range.
This means petrol will now sell for N925 in Lagos, N935 in the South-west, N955 in the North-west and South-east, N945 in the North-central, and N955 in the North-east. For Lagos and Abuja, motorists will now pay N925 and N945 per litre at MRS stations, an increase from N875 and N895 respectively.
Meanwhile, NNPC retail stations have kept their pump prices unchanged at N875 in Lagos and N895 in Abuja as of Saturday evening. The nationwide increase comes amid rising global crude oil prices triggered by tensions in the Middle East, particularly the ongoing Israel-Iran conflict.
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