THISDAY Awards: Titans of the Year
ALIKO DANGOTE
– For Dangote Refineries & Petrochemicals
Nigerian businessman and industrialist, Alhaji Aliko Dangote is the President, Dangote Group and is referred to as the first man who built a private refinery in Nigeria.
Inaugurated on May 22, 2023
the Dangote Petroleum Refinery which had since commenced operations is a 650,000 barrels per day (BPD) integrated refinery owned by Dangote Group, making it the largest single-train refinery in the world with an investment valued at $19 billion at full capacity.
It is a multi-billion dollar project that will create a market for $21 billion per annum of Nigerian crude and designed to process Nigerian crude with the ability to further process other crudes.
The private refinery was designed to end the country’s refined oil and petroleum products import to help conserved scarce Foreign Exchange and to create jobs.
The refinery will meet 100 per cent of the Nigerian requirement of all refined products and surplus of each of the products for export, thereby earning FX and reducing pressure on the local currency.
BENEDICT ORAMAH
– Financing Nigeria at a critical time
The African Export-Import Bank (Afreximbank) under the watch
of its President/Chairman of the Board of Directors, Prof. Benedict Oramah, has advanced critical financing to Nigeria particularly at a time when the country was experiencing fiscal constraints to implement its developmental projects.
Among other interventions. Afreximbank had participated as a lender, bookrunner, and agent in a syndicated facility of up to EUR 2 billion for the Bank of Industry (BoI) to enable the development finance bank critical projects and drive sustainable development in the country.
Afreximbank also arranged a $650 million financing facility for Oando Petroleum and Natural Gas Company Limited to acquire a 20 per cent participating interest in a Nigerian joint venture.
The bank further approved a $200 million Corporate Finance Facility to support BUA Industries Limited’s expansion plans. The first tranche of $150 million was disbursed in October 2024.
ABDUL SAMAD RABIU
– Investing across Nigeria
Nigerian businessman and philanthropist, Abdul Samad Rabiu is the Founder/ Chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing over $2.5 billion in revenue.
BUA has expanded further into steel, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria. The company acquired Nigerian oil mills Limited, the largest edible oil processing company in Nigeria. In 2005 BUA started two flour-milling plants, in Lagos and in Kano. By 2008, BUA had broken an eight-year monopoly in the Nigerian sugar industry by commissioning the second largest sugar refinery in sub-Saharan Africa. In 2009 the company went on to acquire a controlling stake in a publicly listed Cement Company in Northern Nigeria and began to construct a $900 million cement plant in Edo State, completing it in early 2015.
Only recently, Rabiu, disclosed that the company plans to increase cement production to about 11 million metric tons by 2025 boost availability as well as gain more market access and share.
Mele Kyari
– Restoring the refineries
The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC), Mele Kyari, has worked tirelessly to restore the NNPC and make it one of the most formidable National Oil Companies (NOCs) globally.
Under Kyari’s astute leadership, the NNPC has revamped phase one of the 210,000 barrels per day Port Harcourt refinery which hit a 70 per cent production milestone at its reopening in November, 2024.
Similarly, the 125,000 bpd Warri Refining and Petrochemical Company (WRPC), which had been inactive for several years, is now significantly back on stream and operating at 60 per cent capacity. These were feats not thought possible a few months back.
Kyari has overseen the ramping up of oil production from a lowly 1 million bpd to about 1.7 million bpd, literally leading the charge to remove all the bottlenecks that had hobbled oil output as well as mobilising the security forces to minimise the massive oil theft in the Niger Delta.
He has turned the national oil company around from being a loss making entity to a profit-oriented one and has made it a task to release the company’s annual financial statement to the public.
Demola Bero
– Creating a National Oil Major
Ademola Adeyemi-Bero is a well-known figure in Nigeria’s oil and gas industry. As the founder and Chief Executive Officer of FIRST E&P, he has contributed immensely to Nigeria’s oil and gas sector.
With over 33 years of experience in the industry, Adeyemi-Bero has worked with top players in the sector. With him in the saddle, FIRST E&P has achieved significant milestones, including the attainment of first oil and contributing to Nigeria’s Decade of Gas initiative.
Adeyemi-Bero’s vision of creating a Nigerian oil major is centered around building a sustainable and successful integrated oil and gas business. Recently appointed the Chairman of the Board of Governors of the Organisation of Petroleum Exporting Countries (OPEC), under his watch, First E&P, has achieved several notable milestones in its operations.
First E&P has successfully increased its production levels from its operated assets, drilled and completed several new wells and made significant progress in the development of its operated fields. It is also part of the consortium that recently bought some oil assets from Shell.
Mohammed Indimi
– Ramping up oil production
Mohammed Indimi, a Nigerian businessman and chairman of Oriental Energy Resources Limited, has been instrumental in helping to ramp up oil production in Nigeria, with his huge investments in the sector.
Indimi is widely recognised as a leader in Nigeria’s oil and gas industry, and his company, Oriental Energy Resources Limited, is considered one of the most successful indigenous oil companies.
Through the company, Ndimi recently unveiled a $315 million Floating Production, Storage and Offloading (FPSO) vessel, which is expected to increase Nigeria’s oil production capacity by 30,000 barrels per day soon.
The increased oil production capacity is expected to contribute significantly to Nigeria’s economic growth and development, create job opportunities and stimulate economic activity in the country.
Mike Adenuga
– Ramping up oil production
Mike Adenuga, through his company Conoil Producing, is playing a significant role in ramping up oil production in Nigeria. One of the earliest local upstream operators, Conoil has been operating a number of assets in the Niger Delta.
Under Adenuga’s leadership, Conoil has demonstrated remarkable financial success, a testament to his strategic vision and leadership in the oil industry. His commitment to investing in the company’s infrastructure and operations continues to drive growth in the sector.
Aigboje Aig-Imoukhuede
– Banking beyond Nigeria
Aigboje Aig-Imoukhuede, a distinguished financier and visionary leader, redefined banking in Nigeria and across Africa. As the former Group Managing Director of Access Bank, Aig-Imoukhuede spearheaded the transformation of the institution into a leading pan-African financial services powerhouse. Under his leadership, Access Bank expanded its footprint spanning 3 continents and over 20 countries reshaping its financial landscape.
Beyond traditional banking, Aig-Imoukhuede championed diversification into pensions, insurance, and asset management, driving economic inclusion and sustainable growth. His foresight positioned Access Holdings as a key player in addressing Africa’s financial challenges while unlocking vast opportunities across sectors.
Aig-Imoukhuede’s influence extends beyond corporate achievements. Through philanthropy and mentorship, he has inspired a new generation of African leaders, earning global recognition for his commitment to innovation and economic development on the continent. His legacy exemplifies banking that transcends borders and transforms societies
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Jim Ovia
– Banking beyond Nigeria
Jim Ovia, founder and Chairman of Zenith Bank, has positioned the institution as a catalyst for economic growth across Africa and beyond. The bank’s recent entry into Paris, France, in 2024, reinforces its commitment to facilitating trade and investment between Africa and Europe, while its established presence in Ghana, Sierra Leone, and The Gambia bolsters its influence across West Africa.
Zenith Bank is a key driver of non-oil export promotion, supporting Nigerian businesses in accessing global markets. Additionally, the bank actively collaborates with the African Continental Free Trade Area (AfCFTA) to boost intra-African trade, enhancing economic integration across the continent.
With gross earnings of N2.9 trillion in the first nine months of 2024, a 118 per cent year-on-year growth, and a brand value of N201.5 billion, Zenith Bank exemplifies innovation and strategic impact under Ovia’s visionary leadership.
Segun Agbaje
– Driving shareholder value
Since assuming the role of Managing Director/CEO of Guaranty Trust Bank (GTBank) in 2011, Segun Agbaje has demonstrated a commitment to enhancing shareholder value and redefining customer-centric banking. At the start of his tenure, the bank’s share price was approximately N12.30. Under his leadership, it surged significantly, reaching N31.80 by June 2014.
The strategic transformation of GTBank into Guaranty Trust Holding Company (GTCO) in 2021 marked a new chapter, enabling the group to diversify its operations across banking, payments, pensions, and asset management. This expansion has further solidified its position as a leading financial services group. By December 2024, GTCO’s share price achieved a high of N57, reflecting the market’s confidence in Agbaje’s leadership.
Agbaje’s focus on innovation and customer satisfaction has not only strengthened the bank’s reputation but also positioned it as a driver of shareholder value in Nigeria’s financial sector.
Dele Farotimi
The trial and criminalisation of free speech
Dele Farotimi, a prominent Nigerian human rights lawyer and activist, embodies resilience in the face of systemic oppression.
Known for his bold critiques of governance and social injustice, he was targeted with threats, lawsuits, and public vilification aimed at silencing his voice, which culminated to his gestapo-styled arrest on December 3, 2024, by the Ekiti State Police Command, afterwhich he was detained for 21 days over alleged defamation tied to his book Nigeria and Its Criminal Justice System.
Farotimi’s ordeal exposed the weaponisation of the legal system against dissent. Despite harsh detention conditions and stringent bail terms, including a N30 million bond and media restrictions, his unwavering stance on governance and social justice in the shrinking space for free speech in Nigeria and his enduring commitment to truth and accountability, puts him on the radar.
John Tanimola Obaro
– Advancing payment systems
John Tanimola Obaro is the CEO of SystemSpecs, which he founded in 1992 as a human capital management and financial software solutions company to revolutionize payment system in Nigeria and beyond.
In 2011, Obaro, through his company SystemSpecs, signed an agreement with the Central Bank of Nigeria (CBN) to deploy its wholly homegrown Remita software for the implementation of the Treasury Single Account (TSA) policy that enabled e-payment and e-collection of all inflows, remittances and expenditure of the federal government for enhanced transparency and increased efficiency. With Remita, Obaro’s was able to block all financial loopholes and saved billions of Naira for the federal government, through TSA.
