Nigerian oil tycoon Gabriel Ogbechie has regained ground in his stake in Eterna Oil as the companys shares rebound on the Nigerian Exchange, pushing his holdings back above 20 million, thus offering a welcome turnaround after a challenging stretch earlier this year.
Ogbechies stake recovers 4.3 million
Ogbechie, founder of Rainoil Limited and chairman of Eterna, holds a 62.82 percent stake in the Lagos-based energy firm. Over the past 64 days, his stake has risen by N6.23 billion 4.3 million to N29.09 billion 20.08 million, offsetting losses he suffered in the second quarter.
