Igho Sanomi
Net Worth: $1.3 BILLIONIndustry: Oil and Gas
Country of Citizenship: Nigeria
Age: 39
Number of Jobs Created: 1,300
Nigeria’s youngest billionaire is the founder and CEO of Taleveras Group, a Nigerian energy, power, construction and trading conglomerate with an annual turnover of more than $3.5 billion.
Taleveras is one of Africa’s largest energy trading companies, moving over 100 million barrels of crude and large quantities of condensates, gasoline, jet fuel and liquid petroleum gas every year. Sanomi recently joined with fellow billionaire, Benedict Peters, to acquire an oil mining license, OML 29, for $2.5 billion. Sanomi’s Taleveras owns a 5-percent stake in one of the most prolific oil blocks ever sold, while Benedict Peters’ Aiteo owns 85 percent. The block holds about 2.2 billion barrels of oil and approximately 300 million cubic feet of gas. Taleveras also owns stakes in two other oil blocks in Nigeria as well as lucrative production
sharing contracts in Ivory Coast. Earlier last year, Taleveras won a contract to lift crude oil from Libya. It commenced operations but had to suspend all activity due to ongoing conflict. The group’s power subsidiaries construct electrical substations in Nigeria and recently acquired a majority stake in Port Harcourt Electricity Distribution Company.
Sanomi studied geology and mining. He apprenticed in Sarian Oil and Cosmos Oil AG before branching out to found his own company. He serves as Chairman of Nigeria’s National Heritage Council and Endowment for the Arts. Fellow Nigerian billionaire, Folorunsho Alakija, is vice chairman. The council is charged with ensuring the preservation and promotion of places and objects of cultural and historical significance.
Source: Venture Africa
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