Sayyu Dantata, Half-brother Of Africa's Richest Man, Struggles To Sell 22 Million Banana Island Mansion
- Sayyu Dantata's 22 million Banana Island mansion remains unsold after nearly a year on the market, despite its prime Lagos location.
- Dantata, founder of MRS Holdings, is considering a return to Kano amid his continued business success.
- MRS Oil Nigeria reports revenue increase in 2024, driven by rising demand for Premium Motor Spirit and effective cost management.
Nearly a year after listing his luxurious Banana Island mansion for sale, Sayyu Dantata, the half-brother of Africa's richest man, Aliko Dangote, has yet to find a buyer for the 22 million property. Located in one of Lagos' most exclusive neighborhoods, the mansion, despite its prime position in the sought-after Ikoyi area, remains unsold.
The property, nestled within the prestigious Banana Island enclavehome to Nigerias wealthiest individualshas not attracted significant interest at its asking price. Although the listing has been featured across several platforms, the right buyer has not emerged.
This struggle highlights the challenges within Nigerias luxury real estate market. Despite its enviable location and lavish design, the mansions price seems to be a barrier even for buyers in the citys elite circles. The exclusivity of Banana Island, often likened to the likes of Beverly Hills or Monaco, has not been enough to close the deal, underscoring the complexities of the high-end property market in Nigeria.
Dantata considers return to KanoSayyu Dantata, the founder and majority shareholder of MRS Holdings, is a well-established name in Nigeria's petroleum sector. His company, which produces refined products such as gasoline, marine fuels, and aviation fuels, has cemented his position as a key player in the industry. Known for his love of luxury and high-end assets, Dantatas decision to sell the mansion coincides with reports that he is contemplating a return to his hometown of Kano State.
In 2023, Dantata unveiled a 450-million lubricant plant in Lagos through Bestaf Lubricant Limited. This 200-million-liter facility, the first of its kind in West Africa, covers the entire lubricant value chain and is poised to have a significant impact on Nigerias economy. With the capacity to produce 1,700 different products, the plant will create job opportunities for young Nigerians, generate substantial revenue, and reduce the countrys reliance on imports.