- Fidelis Ayebae's 33.1 stake in Fidson Healthcare dropped in value from 15 million to 6.79 million due to Nigeria's economic challenges.
- Fidsons shares have fallen 14.57 this year, reflecting the impact of Nigerias inflation and naira depreciation on business investments.
- Despite losses, Ayebaes leadership remains vital to Fidsons future, with his strategic vision potentially guiding recovery amid Nigerias economic instability.
Nigerian pharmaceutical mogul Fidelis Ayebae has seen the value of his 33.1 stake in Fidson Healthcare Plc fall from over 15 million to 6.79 million in 2024.
The drop in value, totaling N1.94 billion 8.29 million, is due to Nigeria's economic challenges, including a 47 percent depreciation of the naira against the U.S. dollar. Fidsons share price, which started the year at N17.5 0.0106, is now trading at N14.95 0.0089.
Despite the setback, Ayebae remains a key figure in Nigerias pharmaceutical industry. Under his leadership, Fidson has become one of the country's top pharmaceutical companies, making history in 2005 as the first in the region to produce antiretroviral ARV drugs.
Fidsons decline mirrors broader challenges in NigeriaThe drop in Fidsons shares reflects broader challenges facing Nigerian businesses, particularly in pharmaceuticals and manufacturing.
The countrys economic instability, with high inflation, fluctuating exchange rates, has led to significant losses for many investors.
