₦airaland Forum

ruggedized1:
Chidiebere, how are you?

AirforceKommand:
Chidimma nko ?

ruggedized1:
My broooother welcome back.

iblawi:
Igbos are too dull and Yorubas are too much for this rubbish. The way your people run to SW for survival is enough to prove we are far ahead of you.

I was surprised to see someone post bank deposit as a measure wealth and no reasonable igbo man could call him to order.

Generally, Igbos are into buying and selling and for this reason you are likely to deposit money on a daily basis and withdraw money to buy more goods frequently too.
This doesn't mean you worth that much.

A very good example is this; your business is worth 5000 and you sell goods worth 3000 in a day so you deposit 3000 in bank and withdraw 3000 the following day to buy more goods. The following day you sell 3500 worth of goods and deposit the money again. Now, your total bank deposit is 6500 but the actual money in the account is just 3500. If this should repeat itself for seven days using an average deposit of 3000 it means bank deposit will hit 21,000 while actual cash in bank will remain around 3000.

Go to school you say No. You want to go to Alaba market in Lagos.


You keep beating your chests Anambra this and that without knowing what is going on in other regions.

For example, Anambra is an industrialized state by your standard but Ogun state is the most industrialized state in Nigeria. Even more industrialized than Lagos.

Innoson motors produce vehicle in Anambra or SE but Proforce in Ogun state owned buy a Yoruba man produce Amoured protected vehicle for security agencies and even Mine Resistance Armoured protected vehicle for military, drones, ships etc.

Now you can see why most Yorubas have been ignoring this thread. Because we know the person that open it is a product of Half education and currently completing the remaining half in Alaba market or somewhere in South West.

You might also not know that the richest man after Dangote is a Yoruba man and the richest woman in Nigeria is also a Yoruba woman.

ImperialYoruba:
That letter is what in civilized society is termed positive criticism. The author is bringing to attention of leaders a need for sustained industrialization.

All these people he listed, did you know Yorubaland had that many industrialists? No, you did not know, not until this author shared this info.

We live in a service economy,what is called globalization. The author was familiar with the old tradition of industrialization where you get land build production facility or plant, employ people and sign up distributorship to get your products to market. He is not conversant with the way things are done in age of internet.

Yoruba has shifted from plqnting capital to flying capital. For the past 30yrs we have pioneered and built a fail-safe model for service industry across the globe. A Yorubaman can own a multi-billion business interest in Nigeria but lives in England. In the age of internet communications and multi-media you can do business anywhere anytime. Who owns and operates data centers in Nigeria, who owns and operates cellular in Nigeria, who owns and operates online distributiin and shipping, who owns and operates call centers in Nigeria? These and many more that he did not list but are they are the big income earners in new age are all controlled by Yoruba.

He said if Ibo leave Lagos IGR will drop because their shops and industry will leave with them. So what happened to Lagos and Oun and Ibadan not drying up as result of the departure of thosr big industrialists in his list? Same effect will happen in the departure of Ibo, replacements will step in.

Look at Kodak how smart phone camera has forced them out of their monopoly. Same with Xerox. You can take graphic image of a document and share across the globe in seconds. You can fax and receive fax on your smartphone. This is the power of innovation, the ability not just to invent but to forecast and see ahead and adjust yourself along. Yoruba has been doing that before Nigeria came into being.

Isn't that why you guys label us betrayers, cause we shift when conditions change and demand a new input and action. Well we are not only flexible in politics, we practice same flexibility in industry and commerce.

Look what we have done with Oodua Investment and Development Corporation, we reinvented it. For every ten multi-billion business contracts signed in Lagos, at least six are touched by OIDC through one or more of its diverse subs. It is the richest wholly indigenous Corporation in Nigeria and continues to wax strong. The author did not list it.

We love that he wrote the wake up call, it is patriotic of him to do so. It keeps us on our feet even in the new way in which we are planting Yoruba across the globe.

ImperialYoruba:
The wealth of Ogun speaks through their IGR, no need to list individual pockets.

Ilovemystate:
Catherine Uju Ifejika, chairman and CEO, Brittania-U Limited.

In terms of female representation in the upper echelons of oil and gas, Nigeria may be an outlier. The largest oil producer in Africa is headed by a woman, Petroleum Minister Diezani Alison-Madueke, and is seeing a growing number of female oil industry bosses. One of them is Catherine Uju Ifejika, chairman and chief executive of Brittania U Limited, an oil exploration and production company. After graduating with a law degree, Uju Ifejika took a job as junior counsel with Texaco, then became Company Secretary Public and Government Affairs for West Africa. In 2001, she set up Brittania-U with N10 million (USD$50,251) in severance pay from her former employer and a USD$115,577 loan.

The company is currently suing Chevron over the sale of three oil mining leases, for which Brittania-U paid $765 million in 2013. A recent feature on Uju Ifejika, who is described as one of the richest women in Africa, has the oil tycoon dismissing those who criticize her rise to power despite a lack of background in petroleum engineering: “I’m not a geologist and I have never worked in exploration and production,” she told Fascinating Nigeria. “The only thing I know is how to take something that is nothing and create something out of it that you can see and appreciate … Not being an engineer or a geologist was immaterial. Today I speak the language of the geologist, I can interpret the maps and when they bring in technical things we look at them together – because I was able to rise above my fear level.”

Read more about her

http://africanmillionaire.net/2013/08/uju-ifejika-africas-most-successfu/

http://www.bbc.com/news/business-29127436

http://www.brittania-u.com/

ImperialYoruba:
Drilling wells that Ibaji people in Kogi have claimed. Let them hear you,they will return and wipe your Aguleri out again like they did before.

Killitoff:
[s][/s]

Same boring line from the puerile, meretricious and socially-retarded plonker. Your attempt at constructing a creative flame was pitiful.human. God created houseflies, maggots, ticks, slugs, leeches, and intestinal parasites, then he lowered his standards and made you.reason you have a few chromosomes short of a full human.

There was a joyous party in your cursed village, when your worthless mother was banished from your village for bringing forth a green-nostriled, crossed eyed, hairy-livered, and inbred trout-defiler. She actually committed suicide after you constantly rape the nitwit daily with your cursed siblings, pathetic.

    You are a monster, an ogre, a malformity even lepers avoid you. You are vile, worthless, and less than nothing. Your worthless life is a monument to foolishness. Your gene is cursed and contaminated from birth, you are a walking sorrow whose presence brings tears and evil for everyone. Do the world a favour and end your miserable life, I promise to burn your worthless corpse and feed your down syndrome alleged father with your cursed ashes. What a big suck on a sour lemon!

Killitoff:
Same delusional and incoherent ramblings. The  thick-headed trog had to keep using my own line, very dumb animal. It is hard to believe how incredibly stupid you are, you emit more foolishness in one minute than our entire galaxy emits in a year. You are stupid as a stone that the other stones make fun of,  If stupidity were crude oil, your scalp would be crawling with caribou. You are the unholy spawn of a bandy-legged hobo and a syphilitic camel. You are the source of all unpleasantness. You spread misery and sorrow wherever you go, reason your adopted parents cry whenever you show face. The good news is that no normal human would ever mate with you, so we won't have to go into the sewers in search of your git.

Your alleged parents abandoned you at birth and then died of shame in recognition of what they had done to an unsuspecting world. You are deficient in all that lends character, a cannibal that derive pleasure in eating fellow Iboes. Even your adopted mother had to tie a pork chop around your neck just to get your dog to play with you. Go end your miserable life and save your cursed village from the generational curse and shame you spread around. You grimy and squalid nitwit.

BeautifulMind2:
Ernest Azudialu

Nestoil billionaire with humble beginning

Nestoil Tower

osita76:
Current research being carried out has shown that Anambra state with 200 billionaires and 1 million millionaires is the richest state in Nigeria This is an attested fact so people shouldn't argue about it

FKO81:
Anambra has highest billionaires in Nigeria

Ifeanyi Uba Capital Oil etc
Ben Anakwe NIPCO oil,
Mike Ajegbo Minaj Tv, Cement and real estate

laudate:
Wow!! Lagos State govt will make plenty of money from this chap through land use charge. Nice!

laudate:
Remove these people from your list, biko. They are not billionaires. Ifeanyi Uba is heavily indebted to banks and to AMCON. At one point in time, his depot was sealed up for failure to pay up his debts. His liabilities exceed his assets.

Ben Anaekwe is not the owner of NIPCO Plc. He is merely the Chairman. NIPCO is a joint venture between the Indians and the National Independent Petroleum Marketers Association. IPMAN. As Chairman of IPMAN, Ben Anaekwe was representing the association's interest on the board of NIPCO.

Mike Ajeigbo's Minaj TV closed down in Lagos some years back. I don't know if the one in Obosi is still operating. He is also reported to be heavily indebted to the banks and has had problems paying staff salaries for a while.

laudate:
In what way is Catherine Uju Ifejika richer than Folorunsho Alakija, please?? Even the article described her as one of the richest women in Africa, and NOT the richest one. So what is your beef?

FKO81:
Nasdaq Stock Market should have name Alakija who got oil wells by licking IBB balls a hairdresser who know nothing about oil firm

Catherine Uju Ifejika (born October 28, 1959) is a Nigerian lawyer and Chairperson/CEO of Brittania-U Nigeria Limited (BUNL), an indigenous petroleum company for upstream exploration and production, and Brittania-U Ghana Limited (BUGL).[1] She is believed to be one of the six most powerful women in oil and gas in the world[2] and one of the richest women in Africa.[3][4] She has received both national and international awards for best practices in business leadership.

Uju Ifejika was educated at University Primary School, Nsukka and Queens School, Enugu, graduated from Ahmadu Bello University, Zaria, Kaduna State, Northern Region, Nigeria with a Diploma in Law and an LLB (Hons.) in 1985. She was called to the Nigerian Bar in 1986. In addition to being a member of the Nigerian Bar Association, she is a member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) and a fellow of the Institute of Arbitration and Conciliation

Career
Catherine Uju Ifejika served a required year in the National Youth Service Corps at Texaco and went on to work in the oil and gas industry for Texaco and Chevron.[3] She joined Texaco as a Junior Counsel in 1987, spent two years at Texaco Overseas Petroleum Unlimited from 1988 to 1989, and was Acting Chief Counsel by 1991. This gave her experience in both the upstream and downstream aspects of the petroleum industry. By 1997, she was the Company Secretary and the Manager of Public and Government Affairs.[5] As of 2003, she became Company Secretary for Public and Government Affairs for West Africa, a position in which she deal with Cameroon, Togo, Benin, Côte d'Ivoire, and the Democratic Republic of Congo. She served on the Board of Directors of the Federal Ministry of Arts and Culture of Nigeria from 2001 to 2002.

In 2007, Uju Ifejika became the Chairperson/CEO of Brittania-U Nigeria Limited, a Nigeria-based affiliate of the oil and gas company Brittania-U Group. the company was registered on 15th December 1995 according to the Nigerian Company and Allied Matters Act but did not become active until 2003.[6] Brittania-U Nigeria bought a stake in the Ajapa Marginal Field, an oil and gas field which is believed to have reserves worth $4.3bn. They took advantage of a government initiative for the development of marginal fields, and raised money through local investors.[8] In additional to Brittania-U Nigeria, Uju Ifejika has established Data Appraisal Co. Ltd. (2001), Nexttee Oil & Gas Trading Co. Nigeria Ltd. (2009), and Brittania-U Ghana Limited (2010).

As an indigenous company, Brittania-U Nigeria has partnered with local Nigerian communities, hiring locals, and engaging in community-development programs. Uju Ifejika has stated that Brittania-U’s main objectives include people's well-being, better quality of life, job opportunities, and a safe and clean environment.

Uju Ifejika has received a number of awards and honors including the 2013 African Businesswoman Award from Black Pumps, a non-profit women's organization based in Los Angeles, California.

Early life and education
Folorunsho was born in 1951 to the family of Chief L. A. Ogbara in Ikorodu, Lagos State. At age seven, she travelled to the United Kingdom to begin a four-year primary education at Dinorben School for Girls in Hafodunos Hall in Llangernyw, Wales. After returning to Nigeria, she attended Muslim High School Sagamu Ogun State, Nigeria. Afterwards, she returned abroad for her secretarial studies at Pitman's Central College, London. She also studied fashion design at the American College, London and the Central School of Fashion

Folorunsho Alakija is a Nigerian businesswoman, one of the richest African women and also one of the richest black women in the world. In 2014 she unseated Oprah Winfrey as the richest woman of African descent in the world. She is a business tycoon involved in the fashion, oil and printing industries. She is the Group Managing Director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited. Alakija is ranked by Forbes as the richest woman in Nigeria with an estimated net worth of $2.1 billion. As of 2015, she is listed as the second most powerful woman in Africa after Ngozi Okonjo-Iweala and the 87th most powerful woman in the world by Forbes. https://en.wikipedia.org/wiki/Folorunsho_Alakija

In May 1993 Alakija applied for an allocation of an Oil Prospecting License (OPL). The license to explore for oil on a 617,000 acre block – (now referred to as OPL 216) was granted to Alakija’s company, Famfa Limited. The block is located approximately 220 miles South East of Lagos and 70 miles offshore Nigeria in the central Niger Delta.

This was in 1993. Many wealthy Nigerian businessmen and military bigwigs who had been allocated oil blocs by the military administration at the time had no clue as to the technicalities in operating an oil block, so many of them typically acquired OPLs, and then flipped them off to international oil companies for substantial profits.

But Alakija was intelligent. She had no expertise or experience in running an oil field, but she decided not to sell off her license. In September 1996, she entered into a joint venture agreement with Star Deep Water Petroleum Limited (a wholly-owned subsidiary of Texaco) and appointed the company as a technical adviser for the exploration of the license, transferring 40 percent of her 100 percent stake to Star Deep. Subsequently, Star Deep sold off 8 percent of its stake in OPL 216 to Petrobas, a Brazilian company. Folorunsho Alakija and her family owned 60 percent.

Folorunsho Alakija and the Nigerian Government

Star Deep Petroleum carried on with exploitation of the oil field. In 2000, the first appraisal well was confirmed to have recoverable reserves in excess of 1 billion barrels of oil equivalent. When this was discovered, the Nigerian government, led by Olusegun Obasanjo immediately ordered that a 40 percent interest in OPL 216 be allocated to the Nigerian National Petroleum Corporation (NNPC) under the Back-in-Right Regulation of 2003 which gives the Nigerian government participatory rights in any OPL or OML.

This would leave Famfa Oil with a 20 percent stake. This was in 2000, and the government did not pay Famfa a dime for the stake. In 2003, Famfa applied for a conversion from an OPL to an OML, and in 2004 the request was granted. OPL 216 became OML 127.
But the Nigerian government was not content with its 40 percent stake in Famfa. In 2005, the government led by General Olusegun Obasanjo forcefully acquired a further 10 percent stake in OML 127.

Folorunsho Alakija immediately went to the courts to challenge the government’s forceful acquisition take a 50 percent in the license. It was a lengthy court battle which lasted for several years, but in May 2012, the Supreme Court voided the government’s acquisition of a 50 percent stake in OML 127 and subsequently transferred the 50 percent stake back to Famfa Oil.

The Nigerian government tried to appeal the Supreme’s court decision, but the case has been dismissed- a victory for Famfa Oil which sees the little-known oil company owning a 60 percent in OML 127, which is one of Nigeria’s most prolific oil blocks.

VALUATION OF OML 127

Daily production at OML 127 currently stands at 200,000 barrels per day. When the Nigerian government, through its wholly-owned petroleum company, NNPC, was trying to justify its forceful acquisition of a 50 percent stake in OML 127 at the Supreme court, the Government admitted that if Famfa Oil owned a 60 percent stake in the OML, the company stood to earn $10 million on a daily basis (after taxes and other exploration costs have been settled). The government’s argument at the Supreme Court can be found through this link, (item number 23).

So how much is a 60 percent stake in OML 127 worth? Comparator: In July 2012, Royal Dutch Shell agreed to sell its 45 percent stake in OML 30 for $850 million to Heritage Oil and Shoreline Energy. OML 30 currently produces 35,000 barrels of oil per day.

So, if 45 percent of a 35,000 bpd-producing oil bloc is $850 million, 100 percent of the same bloc = $1.88 billion i.e 100/45 x $850 million

If a 100 percent stake in a 35,000 bpd-producing oil bloc is $1.88 billion, by the same logic, a 100 percent stake in 200,000 bpd-producing oil bloc is worth $10.74 billion i.e 200,000 bpd/35,000 bpd X $1.88 billion

Folorunsho Alakija’s 60 percent stake in a $10.74 billion oil well is worth $6.44 billion.

Technically, her 60 percent stake in OML 127 is worth $6.44 billion. http://venturesafrica.com/the-richest-black-woman-in-the-world-folorunsho-alakija/

FKO81:
And you are counting IBB boy Mike Adenuga who indebted IBB globalcom as rich man

SPECIAL REPORT: Adenuga’s Mountain of Debt: Several firms, AMCON chase billionaire for unpaid bills

ConOil, owned by Nigeria’s second richest man, is being pursued by creditors for a combined debt of over $140.5 million by two foreign and one local companies, PREMIUM TIMES has learned.

Despite making several pledges to pay, ConOil and other companies owned by Mr. Adenuga have reneged on paying the debts, multiple sources in the oil and gas sector have told this newspaper.

Things have got so bad that some of the creditor companies have either commenced or are considering commencing legal actions to force the billionaire businessman to pay up, having exhausted all options to make him honour promises and agreements to do so.

In fact, one company successful secured an interim order from a federal court to place one of Mr Adenuga’s companies under receivership.

The increasing debt profile of the telecom and oil mogul, who increased his net worth by almost $5 billion in the last year, according to luxury lifestyle magazine, Forbes, has hit some of his creditors so hard that they had to shut down some of their operations.

One of such companies is Depthwize, a local oil servicing company, which is owed $40 million by ConOil.

The refusal of the management of ConOil to pay Depthwize, a small drilling contractor, has forced the company to lay off workers and shut down services on two of ConOil’s rigs until the money is paid, those familiar with the matter said.

“Depthwize says it can no longer afford the day to day running cost of working on the rigs,” one source said.
http://www.premiumtimesng.com/news/headlines/205953-special-report-adenugas-mountain-debt-several-firms-amcon-chase-billionaire-unpaid-bills.html

BeautifulMind2:
Local mind do you know how much money he's making from Lagosians.

muykem:
What is total population of Anambra? are they saying one out of three adult is millionaire in Anambra i know very well.

laudate:
Folorunsho Alakija was never a hairdresser. Go and read her biography. She qualified from Pitmans College in London in the '80s. Her husband Modu Alakija is a fully qualified lawyer. She did NOT get an oil block by licking IBB's balls as you put it. If it were that easy, all of IBB's girlfriends would have gotten one. Why didn't you allege that Ifejika also got her own oil block by licking an ex-president's balls, too?

Afterall, both Alakija and Ifejika knew nothing about how to run oil wells, when they were each allocated an oil block. But both women learnt on the job. It takes guts, foresight, intellects, wits and courage to be able to amass the colossal funds and expertise, needed to buy, operate and turn an oil block into a successful commercial operation.

Both women have successfully done that, and should be commended. But Folorunsho Alakija is far wealthier than Uju Ifejika. It is sad if that upsets you, but the truth is still the truth.

Abagworo:
On individual distribution of wealth yes but as a State no. Most rich Anambrians live outside the State but are doing well individually where they reside. The richest States in terms of funds available for governance are Lagos, Bayelsa and Akwa Ibom.

FKO81:
Nigerian billionaire, Folorunsho Alakija disclosed that her lack of a university degree, did not deter her from achieving her dreams, even though, she would have loved to attend the university.

http://allure.vanguardngr.com/2016/11/lack-of-university-degree-didnt-stop-me-folorunsho-alakija/


Hairdresser" to wife of a former Nigerian leader was allocated Oil Block worth $225,000 a day.

... I never forgot this headline in 2004, shortly after I arrived in Nigeria.

The UK newspapers quickly asked me to track down the so-called hairdresser... but no one wanted to give me the name of the hairdresser.

The original revelation came from Cairo Ojougbo to House Committee on Petroleum Resources and one newspaper story at the time included the paragraph:

"There are rumours that the oil block is worth up to $1billion, but hurrying to another meeting, the head of Nigeria's Parliament's Petroleum Resources Committee, Dr Cairo Ojougbo, refuted the claim: "Oh no, it's worth much more."

Of course, so much money can't hide forever and I have now finally tracked her down!

It turns out the so-called hairdresser is Mrs Folorunsho Alakija.

Christian Purefoy

laudate:
The reporter who called her a 'hairdresser' got his facts totally wrong. So you are looking down on her simply because she does not have a university degree, even though she qualified from Pitman's College in London? Do you think everyone who gets an oil block is able to make a success out of it? Are you even aware of what it takes to run such an exploration and production firm?

Have you ever asked yourself: how many of those men allocated oil blocks, have a university degree? A few of the northerners that got those blocks never went beyond secondary school, and were unable to make a success story out of their oil blocks, despite the stupendous wealth they had.

Don't let the bad belle you have for this woman and her ethnic group blind you to the truth. Folorunsho Alakija of Famfa Oil is still miles richer than Uju Ifejika of Brittania-U. It is what it is. Even Uju would not deny this truth. So kindly free your mind.

FKO81:
According to Afonja

Top 6 Most Powerful Women In Oil And Gas in the world Folorunsho Alakija is missing

Catherine Uju Ifejika, chairman and CEO, Brittania-U Limited is representing

http://oilprice.com/Energy/Energy-General/Top-6-Most-Powerful-Women-In-Oil-And-Gas.html

I hope you know Uju Ifejika is the owner of this shipping line

laudate:
Who is the Afonja here? Are you referring to yourself? Sorry, that appellation means nothing to me as I do not even come from the South-West. So one publication did not include Folorunsho Alakija's name as one of the top 6 most powerful women in Oil and Gas. I see.

Is that publication your new oracle? Or are their writers, infallible? What about all the other international publications that have called Folorunsho Alakija, the richest black woman in the world? Or you deliberately did not see those ones? I fit borrow you my contact lenses make you take check am, o! Even Uju Ifejika knows that Folorunsho Alakija is richer than she is. Shoe dey get size, nah! Money dey get levels, too...

ariesbull:
Oprah Winfrey is the richest black woman in the world

Check your facts ..These Kies won't help

Folorunsho Alakija is a Nigerian businesswoman, one of the richest African women and also one of the richest black women in the world. In 2014 she unseated Oprah Winfrey as the richest woman of African descent in the world https://en.wikipedia.org/wiki/Folorunsho_Alakija