Nigerian pharmaceutical entrepreneur Fidelis Ayebae has gained about $4.2 million from his investment in Fidson Healthcare Plc after a renewed rally in the company’s shares on the Nigerian Exchange (NGX), which has increased the market value of his stake in recent weeks.
Ayebae, founder and chairman of Fidson, owns a 33.1 percent stake in the company, equivalent to about 759.6 million shares. Since mid-December, the value of that holding has risen from N30.39 billion, estimated at $20.99 million, to N36.46 billion, or roughly $25.19 million, translating to a gain of N6.08 billion, valued at about $4.2 million.
The increase follows a sharp movement in Fidson’s share price on the NGX. The company’s shares have climbed by around 20 percent since December 15, moving from N40 to N48 per share. The rally has pushed Fidson’s market capitalisation above $70 million, placing it among the stronger performers in Nigeria’s pharmaceutical segment in 2025.
The recent gain builds on earlier growth recorded this year. Between January 1 and November 10, the value of Ayebae’s stake rose by about $12.95 million, increasing from N11.77 billion, valued at $8.2 million, to N30.39 billion, estimated at $21.15 million, as investor interest in the company strengthened.
Fidson was founded in 1995 by Ayebae as an importer of medicines for Nigerian hospitals and pharmacies. The company began local manufacturing in 2002, a move that shifted its operations from trading to domestic production. In 2005, Fidson became the first Nigerian pharmaceutical company to produce antiretroviral drugs, supporting national HIV treatment programmes.
In 2025, Fidson reported strong financial performance, with revenue rising sharply and profit after tax increasing significantly for the nine months ended September 30. The company also launched a N21 billion rights issue, offering 600 million new shares at N35 each to fund capacity expansion and support future growth. Year to date, Fidson shares have gained about 210 percent. The developments have continued to attract attention from investors.
