Energy Group Boss, Jimoh Ibrahim, Bounces Back

Love or hate him, Jimoh Ibrahim, Chairman and CEO of Energy Group, is a phenomenon.

His business strategies may not appeal to you, but what is incontestable is that he is blessed with uncommon business acumen.

In the eyes of some, the Ondo State-born billionaire, for want of a better description, is also controversial. He is also known to possess a bagful of tricks that have continued to leave many in wonderment. In 2017, he aspired to clinch the number one job of the state, as he dished out different antics daily.

His ambition nearly marred the peace of the state after he obtained the Peoples’ Democratic Party nomination form from the factional National Chairman of the party, Senator Ali Modu Sheriff, even though the faction was not recognised by the Independent National Electoral Commission (INEC). The gambit continued when the primary election was held.

Before then, the primary election of the more recognisable faction led by Makarfi had been held in Akure and  Eyitayo Jegede, a lawyer, had emerged as the party’s flag-bearer.

He went along with other aggrieved members of the party to organise another primary in Ibadan, Oyo State in an election that produced the businessman as its own flag bearer.

But that was not the first time he had attempted to govern the state. He contested for the Ondo State gubernatorial seat during the 2003 election under the platform of the All Nigeria People’s Party (ANPP). He was said to have budgeted about N5 billion to pursue the ambition, which saw him dropping by the side when the real players started surfacing at the election, which was eventually won by Dr. Olusegun Agagu. He took a break from politics and did not contest the 2007 election, strategising and looking for a structureless party he would hijack. The opportunity presented itself after Agagu was booted out, leaving his party, the PDP, in a state where they needed some revival.

He quickly switched allegiance to the party with the belief that the federal might of the party would present him with a better chance of achieving his long-term ambition. He spent so much money on the party, but the people of the state were not comfortable with him.

In view of this, he once used the period of his political hibernation to seek more knowledge, as he went back to Cambridge University to sharpen his business intellect.

Today, he is now back in the scheme of things in his state, as he recently clinched the senatorial ticket for Ondo South under the ruling party of All Progressives Congress (APC).  

Ibrahim, no doubt is a rare gem, who has set out to achieve greatness in life.  Evidence of this, no doubt, manifests in all his business interests, which include oil and gas distribution, hotels, resorts, aviation, banking, real estate, insurance, publishing and investments, among others.

 This will increase Geregu Power Plant’s capacity to 735 MW. It is expected to also positively impact the company’s revenue, which rose to N70.9 billion in 2021, recording a 32.3 per cent year-on-year growth last year.