Boss Picks

Celebrating Col. Vinay Singh (Retd): His Last Interview

Published

5 years ago

February 19, 2021

Eric

Col Vijay Singh, a retired Indian soldier, and former General Manager, Still Construction Limited, is dead.

In celebrating his life and selfless service to humanity, especially as one of the enabling forces in the fold of Ms Oyindamola Adeyemi’s Still Earth Group, we present his last interview, where he bared it all, and published in 2020.

By Michael Effiong

Still Earth Construction and Realty is a premier indigenous, diversified company, with an illustrious list of satisfied clients and successful projects; some of its clients include all tiers of government, parastatals, agencies and multinationals.

The company is highly regarded as one of the leading engineering and construction companies in Nigeria with a portfolio of completed projects and satisfied clients that are in both the public and private sectors.

With the company’s headquarters situated at Parkview, Ikoyi, Lagos, Still Earth is committed to developing the country’s infrastructural base by responsibly executing every project it is entrusted with, while creating real benefit for communities it serves by adopting principled and uncompromising approach to its professional and value standards. Its portfolio includes but not limited to roads, bridges, civil works, buildings and fit outs across Nigeria.

In this interview with its Managing Director, Col. Vinay Ashish John Singh (Retd), he reveals what makes the company unique and its future ambitions.

Can we begin with you detailing what areas of the economy Still Earth presently operates?

Still Earth is a company that is into construction. We have been in the construction space for about 10 years and in these 10 years, we have done a variety of projects both for the government both at the Federal and State levels. We have also served sub-contractors to multinationals such as Julius Berger on a number of notable projects. Our completed projects are mainly in building constructions, roads, bridges, civil works for industries, fit-outs for buildings and plants, which we have delivered excellently. The works that we carry out are mainly in the space of infrastructure and realty. We look froward to doing several development works partnering with the government and other companies.

Interesting, having told us about your operations, what makes Still Earth unique?

I feel we have a very strong foundation which stands out. We have solid direction and guidance from our Group Managing Director (GMD), Ms Oyindamola Lami Adeyemi.
She is an individual that has a lot of focus and has instilled in us a lot of discipline, she has a process-driven attitude to work which has been responsible for our steady growth.

We pride ourselves as having a very immaculate type of system which guides our business. We do not compromise on rules. We have strict standard operating procedures on which we run and follow. We follow very detailed designs, we endeavor to give our clients the best results, the best engineering and the best technology. These qualities distinguish us from the rest.

The general impression is that local Nigerian companies usually cut corners and hardly deliver good quality, is Still Earth different?

Yes, we are very different. There are a lot of examples where we have actually improved on the job specification we were given. One recent one that comes to mind was a drainage project we did for Lagos State Government. We improved on what was provided to us by the ministry, we improved on the design, we are looking on how to make it even better through technology since we believe the lifespan of the projects should be up to its designed life. We do not have any issue of recall or cutting corners in our projects. Basically, we deploy the best of manpower, the best of engineering, the best of technology, the best of material and the best of equipment.

That takes me to the vision and mission of Still- Earth?

Our culture, our focus and our sense of corporate social responsibility are captured in our mission and vision which have summarized into the company’s Global Objective which is “To add exceptional, lasting value through our technical expertise, corporate culture and corporate social responsibility to our staff, clients, country and humanity”.

Okay, many companies complain of the tough operating environment here in Nigeria, are you also facing these challenges?

Yes! Nigeria does have unique set of challenges that we face and some of these include the unavailability of technical skills in the manpower. There are challenges of knowhow with the available manpower which means there is a need for training and motivation.

Further, we also have challenges with the working environment that we face in respect of the unique weather, which is often wet and is not too good for our kind of work.

Also, we have challenges in respect of constraints in certain technologies, some of which are not available here and so we have to import them. In addition, we have to bring in expatriates to fulfill certain responsibilities which we would not have done if the experts were available here.
To summaries, we do have challenges, but we have developed processes in our system which enable us to overcome these challenges.

Can you expatiate on how you have been able to overcome these challenges?

Like I was saying, the processes that we have developed have helped. The processes cater for all the shortcomings that we face and the reporting systems that we have put in place are excellent.
Daily reports, system of requisition, purchases, etc. help us take care of the manpower challenges. The technological background of our staff, the expatriates as well as the indigenous staff also helps. We have a robust system of importing items that we require. We have our shippers who deliver on time when required. We have excellent vendors too who provide us with technical expertise when required.

Manpower is a key challenge for many industries and you have just mentioned it too, do you offer internships here, which can actually be a way out?

Yes, we have a program that we are developing that will bring in interns. We have contacted Registrars of eleven leading Universities in Nigeria and we have asked them to provide us candidates whom we can recruit as Graduate Engineering Trainees, who if found suitable can be permanently absorbed into the company. We have looked at the civil departments of these Universities to source for their best talents. We are optimistic that this will reduce our manpower challenges in the future.

That’s a very good one because on the long run, it will benefit you, I have to commend Still Earth for this initiative.

Thank you. Even on social media, we are putting up certain educational posts, memes and infographics that can give information to students about construction and construction practices. We are developing student-friendly content for our social media platforms. It is all geared towards attracting them to our company.

The buzz word in today’s world is the new normal, so how has Still Earth been able to adapt to COVID-19. Has the pandemic affected you?

Yes, it did affect us initially. Around April and May, during the lockdown, most of our projects were stopped due to the restrictions put in place. We were still doing some interior works in buildings, but in the exteriors we could not. But here in the office and on the site, we have put in place the parameters required, we adhere strictly to the COVID-19 protocols. We have hand sanitizers placed at all strategic locations in the office, we also have temperature check system in place, and we have sanitization every two to three hours of the contact points: railings and door handles etc, our cleaners ensure that this is done.

Also, we have strict rules of wearing face masks in the open office. When we are in company of others, masks are worn.

Onsite, we follow all the protocols too. We have washing points; we have masks being worn by workers who are in proximity of each other. We also have sanitizers placed for workers to sanitize their hands while working, we have provided all the protocols required by the federal and state governments.

You have these protocols on all your sites?

Yes.

Let’s soften up a bit, I would like to meet you, can you tell us a bit about yourself?

I have 37 years of work experience. I was an Officer in the Indian Army. I was in the Corps of Engineers which deals with Civil Construction. I am a Civil Engineer. I attended the National Defence Academy, where I obtained a B.Sc. from the Jawahar Lal Nehru University, I also attended, the College of Military Engineering where I obtained a B. Tech and I also have a Post Graduate Diploma in Construction Management from National Institute of Construction Management and Research.

I am a strategic Architect with over three decades of rich experience in Business Process Management, Project Management, Tendering & Contract Management, Operations Management and Quality Assurance.

My experience span across the combat engineering part of the Army where we deal with explosives, mines, operating equipment, road construction, bridges, ferries, buildings, field fortifications, obstacles, barb wires etc. and other skills required in the war scenario.

Then I later had the opportunity to move to government organizations in India. I was seconded to the Border Roads Organization in India which is responsible for the strategic roads required for the Army in the border regions. I was responsible for 420-kilometre roads in a high-altitude mountainous terrain, it was a large project with over 2000 staff and numerous equipment.

I was later seconded to the Indian Coast Guard Headquarters to manage their works pan India. There, I was Works Director and worked closely with the Ministry. I had a lot of experience in dealing with the Government Ministries.

From there, I became the Project Director at the Project Implementation Units in the National Highways Authority of India.

I was responsible for coordinating the construction of the NH-25 & NH-26. Also, I handled the rehabilitation and resettlement of 7800 Project Affected Persons as per Asian Development Bank Standards and handled other key responsibilities in the almost four years that I was there.

I became for a brief period, Commanding Officer, Indian Army 970 Railway Territorial Army Regiment where I managed the construction of the infrastructure at the new location of the regiment with training areas, offices, accommodation, play areas, workshop and classes. I then took voluntary retirement from the Army and joined the private sector.

In the private sector, I have had the opportunity of handling large projects basically in roads. I was the Project Director for an SPV “Simhapuri Expressway Limited”, a DBFOT Project in the state of Andhra Pradesh in India. The main assignment was construction and structure the operations of the 181 Km 6 lane highways by formulating the organization and commissioning of the Tolling & Highway Traffic Management System.

My job also included ensuring proper collection of revenue and maintaining the toll collection without hitches.
I went on to work as Project Director, Vindhachal Expressway Pvt Limited in the state of Madhya Pradesh in India where I was given the responsibility to turnaround stalled project by rekindling the financial structure of the sub-contract, revive the quality mechanism of the project by infusing fresh vigor in the project management consultancy and developing an operational structure to prevent overloaded vehicles from plying on the completed highway.

I was also the Head Infra, the Business Head at Lanco Infratech Limited, EPC Division, Gurgaon India where I was reasonable for the P&L for all infrastructure projects and the went on to Autostrade Indian Infrastructure Development Private Limited where I worked as CEO, Pune Solapur Expressway Pvt Ltd, a Highway Development Project in the State of Maharashtra, India.

There, I reorganized the tolling operations, created revised tolling software to refine the tolling process, provided effective leadership and guidance of various teams among other responsibilities. I left in September 2019 to resume at Still Earth.

I should add that at Lanco, I was also the Head of Power Transmission and Distribution, so I had tremendous experience in that respect as well. We had projects in sub-stations, power distribution projects and power transmission projects. There I handled the plant and machinery for the Lanco Group and all mechanical matters too. My father was a Mechanical Engineer, so I have spent my childhood in workshops developing skills in Mechanical Engineering as well. I have a lot of automobile experience too.

So, you have a lot of hands-on experience in all areas of engineering?

Yes. I like to get involved as much as I can.

What attracted you to Nigeria, why did you take up this responsibility after working in India for years?
Actually, right from the time I was still in the Army, I had few opportunities of going abroad but I didn’t have the experience of actually working abroad.

I have travelled a lot, I have been to the US, I have been to the Gulf, I was actually born in Nepal, So, you can say I was born travelling. But I have had no work experience in a foreign country which I always wanted to have.
Therefore when I got this opportunity to come to Nigeria, I knew it will be different from all I have been doing before, I saw it as a good experience for me and an opportunity to deploy my skills in a different environment. I believed it will also give me a perspective of how people do things here.

I felt that it will be different from what I have been doing so I thought it will be good experience and good education for me to learn how people do things other than in my own country.

But I notice something about you, at your last two jobs, you spent just two years, what happened?

Yes, you see, construction is a line where nothing lasts, because if you are on the field, you are selected for a particular project. So, when that project is done, you are sent to another project if the company has another project that is in line with your schedule or you can then move there. There is nothing static in that industry.
My problem was my schedule. Right from 2006, I have been a Project Director, being able to get the position of Project Director in the same company back to back is usually difficult. When your project finishes, you have a choice of waiting for the company to get another project, but I chose to move on to seek work on another project. That is why the tenure is shorter.

You spend averagely two to three years on a project and that is why you take the decision to move on or stay. I believe moving on also gives you varied experiences which is why I usually move on to seek opportunities elsewhere.

I love new challenges and that is why I am now in Nigeria. It helps you in your all-round growth.

How has the experience in the last one year been in Nigeria?

Nigeria is a developing economy, therefore there are a lot of opportunities and areas of improvements which gives you a good challenge and also helps you in developing good skills trying to train people, educate them, and make them understand how things can be done in a better and more organized manner.
So I am taking this opportunity as a good challenge and a good way of using my experience to be able to improve things and that is part of the targets I have set for myself in life, which is to go to a place and try to improve something there. There is this satisfaction you get when you are able to add value anywhere you go.
So, I am quite satisfied with what I am experiencing here. I feel it is a good challenge.

Now I have to ask you about your meeting with the GMD, what kind of person is she?

As I already said while answering your first question, she is such a unique lady. She is a person who has so much drive. So much discipline, she is someone who strives for perfection. She really likes things to be done in a correct manner, she is a role model for all of us and we really appreciate the work environment that she has created here which is rare for people who own businesses.

I feel she really motivates us, keeps us on our toes, she never allows us to relax at all. This is helping us to develop a better Still Earth.

The last time I was here, I saw the cordial relationship that exists here, how she related so warmly with staff

Yes, she’s very informal but still very stern. She complements both sides which makes her a good leader. She takes her business seriously.

Earlier, you indicated that the philosophy that drives you is to always improve anywhere you work, what other philosophies drive you?

Like I said earlier, I like to go to places and make an impact, and ensure there is improvement, I like to see my mark left behind. I like to go somewhere, meet something at a level, and then take it a step better. I also feel blessed that I have a sense of imagination, understanding of process-oriented systems which ensures that things are organized in a better manner.

I believe if I use my skills and experience, and I succeed in the creation of a system which runs without me being physically present, that will be the best. That is what gives me satisfaction, and this is the philosophy that drives me.

Putting something sustainable in place for the success and smooth running of the company is what I strive for all the time.

If I walk into Still Earth today as a client, what would I find that will make me engage your service?

What we guarantee any client that walks in here is mainly detail. There is nothing that we do without deep thought, planning, research and a lot of interaction. We are very deliberate in our approach.
I will give you a simple example, on site, if we have a carpenter, our carpenter should have a carpenter’s pencil not a normal pencil, we are that thorough and detailed.

The second thing that we offer clients is engineering. With my vast experience and the experience of our team and Project Managers, we have a pool of experience that there is no type of project that we have not encountered, which gives us the ability to give expert advice to clients. With us, you can get top engineering concepts, design improvements etc.

The third is quality. We have a quality system that we follow strictly. We have methodologies which we use at all our projects. When we get a project, we develop the methodology, we handle the quality processes, testing processes, so quality is assured at Still Earth.

Last but not the least is that we are economical. We try to develop a project in such a way that we do not waste anything. We always look for the best solution before we start. We offer the best for the least cost. Quality as you know comes with a price. But we do not overdo it. We do not encourage waste, we do not add anything that is unnecessary, and we offer the best solutions all the time.

I know Still Earth is not a project like your previous appointments, I believe you are not coming here for a two-year period, so where do you see Still Earth in 5 years?

In five years, Still Earth will be a bigger company. We are targeting turnovers which will be in billions. Already the target that I have myself is huge monthly. I see a situation where we will be having eight to ten projects running simultaneously. I am looking at us getting involved in very large projects, we would have established regional offices in South West, South South and in the North also. With each office handling 2 to 3 projects from their base.

I will say in 5 years about 15 projects at one time including the North if the situation improves and surely a few projects in other African countries.

Which parts of Nigeria have you travelled to since your arrival?

I have been to Uyo which is in the South South, I have been on a road trip to all the South West states: Ondo, Osun, Oyo and Ogun, repeatedly, I have travelled to Ibadan many times because we had a project there. Of course, I have been to the Federal Capital, Abuja. I move around quite a lot.

Have you tried Nigerian jollof?

(Smiles heartily) Yes, I have. I have tried some stews and soups. It is a little spicy for my palate, but it is okay. It is tasty.

How do you want to round off?

I wish we can carry on excellently with the guidance of our GMD with the line of business that we have chosen and get involved in good projects.

I pray that we can get out of this pandemic in good time so we can deliver big projects to our clients and continue to grow and succeed.

Boss Picks

Koumagnon Family Pledges Unalloyed Support for Romuald Wadagni As President

Published

3 weeks ago

April 9, 2026

Eric

By Eric Elezuo

The Koumagnon Family and Allied Families of Seme-Kpodji, of the Republic of Benin, led by Monsieur Alberto Koumagnon, has declared their unflinching support for the candidacy of Romuald Wadagni as he steps out on Sunday to vie for the presidential seat of the Republic of Benin.

In statement of declaration, the families observed that Wadagni is propelled by a ‘vision embodied in this ambitious, realistic project, resolutely focused on the future of our country’.

The declaration is presented in full:

DECLARATION OF SUPPORT BY THE GREAT KOUMAGNON FAMILY AND ALLIED FAMILIES OF SÈMÈ-KPODJI FOR CANDIDATE ROMUALD WADAGNI

The great KOUMAGNON family and allied3 families of Sèmè-Kpodji, deeply committed to the values of peace, progress, and development, followed with particular interest the presentation, on Saturday, March 21, 2026, of the “Further Together” (Plus loin ensemble) social project by our dear candidate, President Romuald WADAGNI.

Following this important political event, and gathering on this day, 04/04/2026, we wish to express our full support for the vision embodied in this ambitious, realistic project, resolutely focused on the future of our country.

From the outset, we, descendants of the KOUMAGNON family and allied families, commend the enlightened leadership of President Patrice TALON who, faithful to his commitment to building a modern and prosperous Benin, has been able to propose to the presidential majority a competent, credible candidate who brings hope for consolidating achievements.

In this dynamic of continuity and progress, the candidacy of President Romuald WADAGNI is fully in line with the continuation of the structural reforms undertaken over several years in all sectors, particularly in infrastructure.

In this regard, we recognize and commend the many achievements of the government, especially road infrastructure, which has significantly improved mobility and living conditions for the populations of the communes of Sèmè-Kpodji and surrounding areas.

Moreover, these remarkable efforts reflect a constant determination to connect localities, stimulate economic exchanges, and sustainably strengthen the attractiveness of our territories.

Building on these achievements and firmly oriented toward the future, we are convinced of the relevance of the “Further Together” project.

Therefore, the great KOUMAGNON family and allied families of Sèmè-Kpodji give their firm, committed, and unconditional support to candidate Romuald WADAGNI, as well as to his running mate, Mrs. Mariam Chabi Talata Zimé Yérima.

In the same spirit, we call on all daughters and sons of Sèmè-Kpodji, as well as all citizens committed to peace and development in our country, Benin, to mobilize massively in support of this hopeful momentum by turning out in large numbers on April 12.

We also wish to assure our dear candidate of our commitment to mobilize widely to ensure a high voter turnout in the commune of Sèmè-Kpodji.

Together, let us continue the efforts undertaken.

Together, let us consolidate our achievements.

Together, let us go further.

Long live Benin on its path toward progress!

Long live the WADAGNI–TALATA ticket!
Thank you.

Done at Sèmè-Kpodji, on 04/04/2026

The great KOUMAGNON family and allied families

Boss Picks

The Billionaire Gang: The Quartet That Keeps Nigeria in Limelight

Published

2 months ago

March 16, 2026

Eric

By Eric Elezuo

With a loud ovation, Nigerians reveled at the announcement of its billionaire-quartet, Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu as among Africa’s richest individuals in 2026.

The four has constantly put Nigeria in the limelight, ensuring that Forbes is never complete without a mention of the giant of Africa, Nigeria

According to the latest Africa Billionaires ranking released by Forbes, Dangote retained his position as Africa’s richest man, with an estimated net worth of $28.5 billion. He added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.

Telecommunications magnate Adenuga also retained his place among Africa’s billionaires.

The founder of Globacom and chairman of Conoil Producing remains one of Nigeria’s most influential entrepreneurs with diversified interests spanning telecoms, oil and gas, and banking.

Otedola, chairman of Geregu Power Plc, also featured on the list despite a slight dip in his wealth over the past year. Forbes estimates that the billionaire investor lost about $200 million following the sale of a majority stake in the power generation company at a discount to its market price.

The increase in Rabiu’s net worth was largely driven by the performance of BUA Cement, whose shares rose 135% over the past year, outperforming the broader rally on the Nigerian stock market.

The 23 billionaires on the continent are now worth a combined $126.7 billion, representing a 21% increase from 2025 after they collectively added $20.3 billion to their net worth.

Across the continent, billionaire fortunes were boosted by strong equity market performance, record corporate profits, and improving currency stability in several African economies.

South Africa remains the highest number of billionaires on the list, with seven individuals, followed by Egypt with five, Nigeria with four, and Morocco with three.

Here is a peep into the world of Nigeria’s Billionaire-Quartet.

ALIKO DANGOTE

For the President of the Dangote Group, Alhaji Aliko Dangote, and his multifaceted group, playing second fiddle has never been an option. Both the enterprise and the entrepreneur have maintained market leadership to the extent that Dangote himself has appropriated the richest man in Africa status to himself, and has hardworkingly sustained the tag for as long as anyone can remember.

Since 2014, when Forbes magazine named him the world’s 23rd billionaire, jumping 20 spots on the scale from his previous 43rd position among the elite club of the world’s richest people. Aliko Dangote has not looked back, winning back to back the accolade among African billionaires, and never slipping from the world ranking.

Again, as expected, the famous Forbes has proclaimed the soft spoken businessman as Africa’s richest man for the 12th time in a row; a proof that the name Dangote is synonymous with consistency. He is a businessman, who understands that no man rest on his oars if turnovers have to continue to turn over. With marked differentiation, he has demystified the business terrain, and proved that if it can be done, then it must done. His establishment of the humongous fertilizer and sugar plants and the ambitious refinery in Lekki, Lagos, Nigeria, are testimonies of the trajectory of one who knows his onions.

Worth $13.4 by the last Forbes ranking, which sustained him as the richest man in African for the 11th time, entrepreneur extraordinaire has the following points to his name:

Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.
He owns 85% of publicly-traded Dangote Cement through a holding company.
Dangote Cement has the capacity to produce 48.6 million metric tons annually and has operations in 10 countries across Africa.
After many years in development, Dangote’s fertilizer plant in Nigeria began operations in mid-2021.
Dangote Refinery, under construction since 2016, hit the public space since 2024, and is one of the world’s largest oil refineries, with a capacity of 650,000 barrels per day production.

The above and many has remained the factors that have made it easy for the billionaire to remain in the top echelon of world’s money men, and the supremo among African businessmen. Little wonder he is one of the few recipients of the GCON national honours reserved for top politicians of vice president ranking and top government appointees.

Born in Kano in 1957, Dangote proudly shuttles between three wonderful tags as the richest man in Nigeria; the richest man in Africa and the richest Black man in the world. He has paid his dues, and mankind is the better for it.

Releasing impacts, Aliko Dangote Foundation (ADF), the private charitable foundation of Alhaji Aliko Dangote. Incorporated in 1994, as Dangote Foundation, is saddled with the mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities. 20 years later, the Foundation has become the largest private Foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

The primary focus of ADF is child nutrition, with wraparound interventions centered on health, education and empowerment, and disaster relief. The Foundation also supports stand-alone projects with the potential for significant social impact.

The Foundation works with state and national governments and many highly reputable international and domestic charities, non-governmental organizations and international agencies to advance its humanitarian agenda.

In one of its biggest collaboration to date, Aliko Dangote Foundation started working in partnership with the Bill and Melinda Gates Foundation and key northern State Governments in Nigeria from 2013 to eradicate polio and strengthen routine immunization in Nigeria.

Worthy of praise is the fact that nearly a decade, the Foundation has spent over N7 Billion in the course of feeding, clothing and the general welfare of the Internally Displaced Persons in the Northeast.

To make his host communities feel at ease, and the impact of his presence, Dangote has embarked on an initiative to provide further support to improving educational systems in Ibeju-Lekki and Epe locality. The educational support initiative is a tripartite programme consisting of scholarship, capacity building for teachers and school infrastructure projects.

In addition, Scholarships have been awarded to 52 secondary school students whilst some financial support was provided to their parents and/or guardians. Tertiary students will be included in the next batch of the scheme.

Furthermore, about 100 teachers, principals and school administrators were trained in teaching techniques for the 21st century. After which they were monitored in class on how they were using the skills acquired.

There is hardly any sector that has not felt the milk of human kindness running through Aliko Dangote; the military, media, politicians, governments across boards and more.

Dangote is surely an asset to this world!

As at today, there is no space for slowing down for Dangote as he continues to trudge on, creating firsts after first for himself and for humanity. He is blessed with three wonderful daughters, who have followed the rewarding footprints of entrepreneurship, and is looking forward to hitting the richest man in the world status. And very soon too.

ABDULSAMAD RABIU

Abdulsamad Rabiu’s consistent climb on the ladder of success has become phenomenal. The unassuming Chairman at BUA Group has become a study in entrepreneurial discipline, focus, philanthropy and intentional sacrifice. But what can actually be said of a man who has steadily evolved as one of Africa’s biggest investors, in fact, the biggest in the order of reckoning on the Nigerian Exchange. He has graciously used his BUA Foundation and the phenomenal Abdul Samad Rabiu Africa Initiative to not only affect lives, but ensured that the people of the world, especially his native Nigeria, live in better comfort. The Chairman/Chief Executive Officer, Bua Group, makers of quality cement, sugar, flour among other wonderful household items has been a epitome of enterprise. He is presently by divine and entrepreneurial orchestration one of Nigeria’s richest investor. He is also the third richest man in the Africa, by Forbes calculation behind Nigeria’s Aliko Dangote, South African billionaire, Johann Rupert.

In 2023, via a list compiled by Billionaires in Africa revealed the rankings on the Nigerian Exchange, NGX, showing that Abdulsamad Rabiu, the billionaire businessman and industrialist, overtook Aliko Dangote as the richest investor in the country, albeit temporarily.

According to data tracked by Billionaires.Africa, Rabiu’s holdings in his publicly-listed businesses on the local bourse were valued at an impressive $6.01 billion, making him the only investor with an investment portfolio worth over $6 billion then. This is a feat that can only be achieved through wholesome business acumen and dedication.

Born August 4, 1960, in Kano, to one of Nigeria’s foremost industrialists in the 1970s and 1980s, Khalifah Isyaku Rabiu, Abdul Samad Isyaku Rabiu CON is a perfect combination of many things in one.

It was in his native Kano that he kick-started his academic pursuit, carousing through elementary education with ease as a gifted child, and obtained his First School Leaving Certificate. He was later admitted into the Federal Government College, Kano, where he had his secondary education, and gradually with honours.

With a combination of fate, brilliance and determination, Abdulsamad was catapulted to Capital University in Columbus, Ohio, where he studiously studied Economics, and acquired his tertiary education before returning to Nigeria, all before his 24th birthday, to oversee his family business. He was that much sought after, and highly brilliant, and considered capable of holding fort for his father, who was being detained by the administration of General Muhammadu Buhari over matters concerning import duties.

In 1988, just after learning the ropes of entrepreneurial excellence, Abdul Samad Rabiu established BUA International Limited, for the sole purpose of commodity trading. The company followed after the footsteps of his father, and imported rice, edible oil, flour, iron and steel.

In 1990, having exhibited the character worthy of a world class entrepreneur, and the ability to execute classical projects, Rabiu’s BUA was invited by the government, which owned Delta Steel Company to supply its raw materials in exchange for finished products. This provided a much-needed leverage for the young company, and consequently expanded further into steel, producing billets, importing iron ore, and constructing multiple rolling mills in Nigeria.

Rabiu’s dexterity showed further a few years later, when the company acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria, and there erupted the company’s and BUA’s influence and care over the people in the provision of affordable edible oil. His passion to see people excel in comfort has continued to make him churn out one great tiding after another, and endearing him in the hearts of the generality of the public.

A man with a vision for tomorrow, Rabiu, in 2005, started two flour-milling plants, in Lagos and in Kano, and by 2008, had broken an eight-year monopoly in the Nigerian sugar industry by commissioning the second-largest sugar refinery in sub-Saharan Africa. This was a feat only a bravest of hearts could wroth. As a result, 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. Rabiu’s passion for expansion is unequalled.

BUA Group has since concentrated and excelled in manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5 billion. This is in addition to being the chairman of the Bank of Industry (BOI).

The Group, in 2019, announced plans to merge its privately owned BUA Cement with the publicly traded Cement Company of Northern Nigeria Plc (CCNN), to create Nigeria’s second largest cement producer thereby consolidating the grip on the cement market and breaking its monopolistic status.

MICHAEL ADENUGA

Michael Adenuga Jr. is one entrepreneur, who has proved over the decades that he is not the regular billionaire. He is of the stock that is not regulated by stock market figures, but by liquid cash. And that explains why his wealth and net worth supercedes whatever figures churned out by any institution, or any position he is placed in the billionaires’ list.

Adenuga is, for all intent and purpose, in a world and class of his own. This is because his business trajectory and personal philosophy are uniquely his, and therefore worthy of emulation.

Sitting atop one of the most cherished and subscribed network, Glo, Adenuga has not only inspired lives, but practically lifted not a few to enviable heights.

Known for his diverse investments in oil, gas, telecommunications, banking, construction, and real estate, Mike Adenuga notably shook up the African telecom sector with the launch of his telecommunications network, Globacom Limited (Glo), in August 2003.

Also referred to as The Guru, Adenuga is like the proverbial Iroko tree, who is unlike any other. In terms of humility, pedigree, magnanimity, wealth and portfolio of investments, he is one of a kind.

“As of Jan. 1, 2024, Forbes, the U.S.-based business magazine renowned for tracking global billionaire fortunes, estimated Adenuga’s wealth at $6.1 billion. By Dec. 31, 2024, his net worth had grown to $6.8 billion, ranking him as the 448th richest person in the world. Adenuga’s wealth is anchored in his control of Globacom, Nigeria’s second-largest mobile telecommunications and digital services provider, which boasts over 60 million subscribers,” according to Billionaires.Africa

Adenuga is fondly remembered for launching operations on Per Second Billing, thus ensuring subscribers only pay for actual time spent on a call instead of the practice of billing customers N50 per minute even when the call cuts off at just 2 seconds. It also crashed the cost of SIM card from N30,000 to N6,999 and later N100, thereby making it possible for low income earners, students and artisans to own GSM lines today. It is now one of the most recognizable brands across the continent.

Love him or hate him, you can’t fault him. He is an enigma. A definition of class, humanity, intellectual discipline and entrepreneurial acumen. He is the very epitome of when the going gets tough, the tough gets going. And of course, a reference point and research material when it comes to philanthropy. Dr. Mike Adenuga doesn’t give little or give just for giving sake. He gives to sort and solve a lasting challenge. Yes, he is Dr. Michael Adenuga Jr., ‘The People’s Billionaire,’ and without introduction, the brain behind the increasingly success stories recorded at the Globacom Group, among his many other conglomerates and subsidiaries.

Known by many appellations, such as the Spirit of Africa, a rare gem, walking kindness, moon amongst the stars, owner of wealth beyond money, the mighty oak, the man with the gift of Foresight, the Bull, Pillar of sports among a whole lot more, Adenuga’s image looms large. He appears little, and achieves so much more. Hardly seen, but gracefully and consistently felt.

Born on April 29, 1953 to Oloye Michael Adenuga Sr and Chief (Mrs) Juliana Oyindamola Adenuga, the Yeyeoba of Ijebuland, Otun Gbadebo of Ikija and Iyalaje of Ijebu-Igbo, Dr. Mike Adenuga Jnr was not a silver spoon kid, but his parents were comfortable.

The indigene of Oru, Ijebu-Igbo, Ogun State was born and schooled in Ibadan. He attended the famous Ibadan Grammar School. He had his university education in the United States. He majored in Business administration with emphasis on Marketing.

While in school, to augment the allowance sent by his parents, he worked as a cabbie (Taxi Driver), putting in many hours of work a week. This culture of back-breaking hard work shaped him for his ambitious business adventures later in life.

Dr. Mike Adenuga Jr is married to Mrs. Titi Adenuga (nee Adewale). She provides the comfort and stability that such an incredibly busy man requires. His children are Oyin, Babajide (Bobo), Paddy, Bella, Eniola, Bimbo, Sade and ‘Niyi Jnr. He also has grandchildren.

FEMI OTEDOLA

Billionaire businessman, and Chairman, Geregu Power Plc, simply addressed as Femi Otedola (CON), is a focused and determined man. He made his choice from day one, and has refused to be derailed. This explains his prolific nature in the world of entrepreneurship, which has directed his life.

One thing is very obvious before all and sundry, and that is the fact the dotting father of four adorable children is really an Epicurus son, and has no place for half measures when it comes to giving himself, his business and of course everyone around him the good life.

It won’t be forgotten in a hurry how the philanthropist spent a whopping Three Million Pounds to rent a cruise boat in celebration of his 60th birthday in 2022.

Born on November 4, 1962, in Ibadan to the family of the late Sir Michael Otedola, a former governor of Lagos State, Otedola is a definition of everything good, positive and encouraging. He has lived his 60 years representing the very essence of living, affecting lives as a philanthropist, developing careers and manpower as a businessman, industrialists and entrepreneur, and raising biological children, who has stood their own in the society. There is hardly anywhere this tall, handsome phenomenon of a personality can be faulted.

The billionaire businessman started his education at the University of Lagos Staff School before attending Olivet Baptist High School from where he was admitted into Obafemi Awolowo University in 1980. He graduated in1985.

A former chairman of Forte Oil Plc, the Chancellor of St Augustine University, Epe, Lagos, is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He has recently invested in power generation as part of the liberalisation of the sector in Nigeria.

The author of the bestseller, MAKING IT BIG, who has homes in Lagos, Abuja, Dubai, London and New York City has a much impressive existence since he set out to take the bull by the horns in the field of enterprise. This is as chronicled by wikipedia. In 2003, having identified an opportunity in the fuel retail market, Otedola secured the finance to set up Zenon Petroleum and Gas Ltd, a petroleum products marketing and distribution company.

As owner and chairman of Zenon, in 2004 he invested N15 billion in downstream infrastructure development and acquired storage depots at Ibafon, Apapa as well as four cargo vessels, amounting to a combined total storage capacity of 147,000 metric tonnes. The same year he acquired a fleet of 100 DAF fuel-tanker trucks for N1.4 billion.

By 2005, Zenon controlled a major share of the Nigerian diesel market, supplying fuel to most of the major manufacturers in the country including Dangote Group, Cadbury, Coca-Cola, Nigerian Breweries, MTN, Unilever, Nestle and Guinness.

Boss Picks

The Boss Newspaper Welcomes Folu Adebayo into Its League of Columnists

Published

2 months ago

March 13, 2026

Eric

By Eric Elezuo

As The Boss Newspaper continues to gain traction, expansion and readership across the media spaces, more intellectuals are joining the long list of columnists contributing beneficial articles and information to the reading public.

The latest among The Boss columnists is AI expert, humanitarian and leading autism advocate among others, Mrs. Mofolu Adebayo.

Folu, as she is fondly called, is an AI expert, technology architect, charity founder, philantropist and autism advocate with academic backgrounds in Science, Law and Artificial Intelligence. She brings a unique perspective that combines technical expertise with lived experience as the mother of an autistic young man.

Her work focuses on the intersection of artificial intelligence, technology policy and neurodiversity, exploring how emerging technologies can improve diagnosis, support, education and long-term independence for autistic individuals.

Folu is passionate about ensuring that innovation is inclusive, and that technology is designed with neurodiverse communities in mind. Through her writing, she aims to bridge the gap between technology, policy and real-world family experiences.

Folu, who writes about the intersection of AI, society, and human potential, also explores how emerging technologies are reshaping the future of work, education, and everyday life. She is also an autism advocate and brings lived experience to conversations about inclusive and accessible technology.

She joins eminent columnists already in the fold of The Boss Newspaper.