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| Description: Net Worth: $1.8 BILLION Industry: Oil and Gas Country of Citizenship: Nigeria Age: 75 Number of Jobs Created: 4,400 The highly respected retired General and former Defence Minister of Nigeria is the chairman of South Atlantic Petroleum (SAPETRO), which he founded in 1995. SAPETRO was awarded an Oil Prospecting License (OPL) 246 in 1998. OPL 246 covers a total area of 2,600 square kilometres. SAPETRO sold 50 percent of the block to Total and Petrobas. After a series of successful oil finds, in 2005 the Nigerian Government granted the company an Oil Mining Lease, OML 130. A year later, Danjuma sold 45 percent of the lease to China National Offshore Oil Corporation (CNOOC) for $1.8 billion. SAPETRO owns a 100-percent interest with operatorship in Block 1 in the Republic of Benin, as well as valuable upstream assets in Mozambique and Madagascar. Danjuma consolidated his holdings into a family office, the TY Danjuma Family Office, in order to streamline his investments. A former soldier and veteran of the Nigeria Civil War, Danjuma served as Chief of Army Staff to Olusegun Obasanjo when he was Military Head of State in 1975, and as Minister of Defence after Obasanjo was democratically elected as president in 1999. In 2008, Danjuma endowed his TY Danjuma Foundation with $100 million and the mandate to transform the lives of underprivileged Nigerians. |
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