Nigerians on Africa's richest 40 list who owe their wealth to oil and gas include
Mike Adenuga of Conoil Producing is at number 5. At 59 years of age, his net worth is calculated at $4.6 billion. Conoil is one of Nigeria’s most successful indigenous producers with a production capacity of 100,000 barrels of oil per day. He made the Rich List last year, rising oil prices have since increased his fortune.
– Folorunso Alakija weighs in at number 24, with $600 million. The 61 year old owes her fortune to OML 127 awarded by Babangida to her Famfa Oil company. The block has since gone on to become one of Nigeria’s most prolific. The award of the block has proved controversial and was revoked without compensation by Obasanjo’s government but was reinstated this year after a lengthy court battle. Chevron owns a 40% stake in the block.
– Theophilus Danjuma is joint 24th with Mrs Alakija with his wealth estimated at $600 million. The 73 year-old former Defence Minister owes his wealth to an oil block awarded to him by the Sani Abacha’s government. CNOOC bought a 45% stake in the block for $1.75 billion. His company has a 5% stake in OML 130.
– With a net worth of $575 million, and coming in at number 26, 68 year old ex-banker, Oba Otudeko is chairman of the Honeywell Group which also owns has oil and gas exploration and production interests.
– Next, is Mohammed Indimi, with a net worth of f $550 million. The 64 year old is the chairman of Oriental Energy Resources, which is involved in exploration and production with a current daily production of about 35,000 barrels of oil.
– 82 year old O.B. Lulu Briggs is number 31 on the list with a net worth of $500 million. He got an oil block award during Babangida’s rule which has gave his exploration and production company, Moni Pulo, a kick start as an indigenous producer. Their OML in bringing in 10,000 barrels a day although they have interests in other blocks too.
– 70 year old Sani Bello, a former military governor and ambassador is number 37 on the list with a net worth of $425 million. He is one of the founders of AMNI Petroleum, a successful indigenous oil and production company which owns a 50% interest in Okoro and Setu fields. Afren owns the remaining 50% stake.
– Harvard educated jazz fan and petroleum economist, Hakeem Bello-Osagie who is 57 years old, only just managed to scrape onto the list at number 40, with a net worth of $400 million. He has a strong oil and gas background, having worked as presidential adviser on petroleum and energy and also NNPC before setting up his own oil and gas consultancy.
The Forbes list of Africa’s Richest 40 people just released shows these Nigerians among the richest Africans.