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Jubril Adewale Tinubu: The Extraordinary Corporate Disrupter in the Oil & Gas Sector

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Jubril Adewale Tinubu is a highly respected figure in the history of Nigeria’s Oil & Gas industry. His insights are backed by solid facts and figures, making him a true authority in the field. Whether you admire him or not, there’s no denying that he operates on his terms and has made significant contributions to the industry. For students seeking a degree or postgraduate qualification in the Oil and Gas sector, understanding the remarkable strides made by JAT (as he is fondly known in the industry) will offer valuable perspectives on upstream, midstream, and downstream aspects of the industry.

His audacious nature, resilience, risk-taking ability, foresight, and tenacity are qualities that students should pay close attention to. Moreover, his practical experience in the field, gained over three decades, is invaluable and cannot be taught within the confines of an academic institution; because he has seen it all by crossing the T’s and Dotting the I’s in the industry which he is currently staying afloat after 3 decades of investment and still winning.

JAT, a trained lawyer, has proven that his business success is not merely a product of his background. He displayed exceptional traits of greatness early in life, earning him the well-deserved title of “King of African Oil.” Instead of relying on family wealth, he focused on forming alliances and studying the market to achieve his goals. His journey from a Law student at the University of Liverpool to obtaining an LLM from the London School of Economics and eventually specializing in corporate law showcases his determination and commitment. Wale Tinubu has a proven track record in building successful businesses across the energy value chain.

In 1993, he co-founded Ocean and Oil Group, one of the first indigenous trading companies with extensive operations exporting Nigerian petroleum products. In 2000, during the Nigerian Government’s privatization exercise, Tinubu led Ocean and Oil’s successful bid for a stake in Unipetrol. While his peers were partying and spending their business proceeds on frivolities; he was busy investing in a terrain that was meant for the richest of the richest in the country. For him, opportunity meets preparedness; Two years later, he led the largest-ever acquisition of a quoted Nigerian company, with Unipetrol PLC’s purchase of Agip Nigeria PLC. The group was rebranded to Oando PLC in 2003. Instead of Wale being swallowed by the deep waters and eaten by the sharks in the oil and gas business; he was skilful enough to navigate through the waters to remain in business to date waxing stronger. While expanding; he became a headache for his competitors as he infused impeccable ideas into running his business conglomerate. He also infused some ideas to strengthen the Oando brand with the successful transformation of Oando from a petroleum marketing company to an integrated energy group, included in the downstream – OVH Energy (formerly Oando Marketing) and Oando Trading; midstream – Axxela Limited (formerly Oando Gas and Power) and upstream – Oando Energy Services and Oando Energy Resources.

With these impeccable ideas; he was able to transform and capture other aspects of the terrain which aims at developing not only the sector but also ensuring divesting into other terrain. In 2014, Wale through the OER led the $1.8 billion landmark acquisition of Conoco Phillips solidifying the company as the leading independent exploration and production company in Nigeria. OER has assets on and offshore in Nigeria, and the Exclusive Economic Zone (EEZ) of São Tomé and Príncipe. The portfolio which includes 14 licenses boasts of net average production of ~44,000 boepd, 2P reserves of ~ 485.3mmboe, 2C reserves of ~158.9 mmboe as well as extensive infrastructure including ~22,500km2 of combined acreage, ~483,000 bpd of oil handling capacity, ~3,663 mmscf/d (million standard cubic feet per day) of gas handling capacity, 3.5 mmbbls (million barrels) terminal capacity, and over 1,255 km pipeline network, amongst others.

JAT’s disruptive and transformative ideas have not only changed the fortunes of the oil and gas sector but have also set new standards for the industry. His pioneering efforts and strategic vision have been instrumental in shaping the energy landscape in Nigeria and beyond. In 2019, he was set to eliminate the operational constraints and inefficiencies in petroleum product importation into Nigeria, Wale led the successful divestment of Oando Marketing Limited to the Vitol Group, the world’s largest independent trader of energy commodities and Helios Investment Partner with a sale portfolio of $461 million. OVH Energy boasts the largest distribution value chain in Nigeria, with over 1,500 trucks, 50 million litres in tank farm storage capacity and over 400 retail station outlets dispensing PMS and other products. He pioneered the development of the first privately owned mid-stream jetty in West Africa which sits within OVH Energy’s business portfolio. In the same year, Oando divested from Axxela to a vehicle owned by Helios Investment Partners LLP (“Helios”), an investment of $160 million which focuses on the development and distribution of Nigeria’s natural gas. The company pioneered the private sector piping and distribution of natural gas to industrial and commercial consumers, successfully reviving private sector participation in Nigeria’s gas distribution business.

The witty and highly cerebral Wale despite having the heart of Hercules; is a man soft at heart. He loves to enjoy life but one thing he can’t stand is the face of people in distress. Despite being a very private person, who would rather spend time doing business or with his family; he is a very generous man with a large heart. His generosity is one thing that keeps him going. Those who have cried to him have always returned with smiles on their face because cheerful giving is part of his culture and personal lifestyle. Annually during fasting periods, Wale is known for silently reaching out to those Muslims faithful by distributing edible items and also meals. He also holds an annual lecture in memory of his late father; Oluwole Kafaru Tinubu where he also uses the avenue to touch people’s lives. As the generous money bag saunters into age 57 today; his joy knows no bounds and he is super excited with joy in his heart. He is feeling happy and ready to climb the mountain top to shout but one thing remains constant he stays in tune with his creator via prayers for a longer life in good health and wealth. Apart from his persona proceeds to help the needy; he also loves education. He has personally spoken against the educational deficit in the country which is why he thinks that a public and private partnership should be imbibed by many rich individuals and companies to bridge the gap in education for national development. This led to the founding of the Oando Foundation in 2011, with the mission to improve the learning environment in primary schools by holistically creating world-class basic education systems for the community; Wale personally spearheaded the Adopt-A-School Initiative (AASI). The initiative has adopted 88 public primary schools across Nigeria, supporting over 500,000 students, enrolled over 60,000 School Children, trained 3,000 teachers, promoted infrastructure rehabilitation of 300 classrooms (renovation and new build) and established 40 solar-powered digital learning centres.

For Wale, his best is yet to come as he has lots of ideas in the pipeline and also plans to divest more and take over critical sectors of the economy. His success is not by fluke but by sheer dint of hard work and his passion for the development of Nigeria. Despite his dreams gradually becoming reality; Wale is not relenting on his oars until he finally holds a stake in the Oil &Gas sector in Africa and by extension the rest of the world putting Nigeria on the world map.

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5th Bodex Social Media Hangout: Exploring the power influence and impact of digital platforms

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The 5th edition of the Bodex Social Media Hangout (BSMH) unfolded in grand style, spotlighting the transformative power of social media in shaping narratives, fostering collaboration, and addressing societal challenges. With the theme “Social Media: The Influence, Power, and Impact,” the event attracted dignitaries, influencers, and stakeholders from across various sectors.

 

Panellist discussing at the 5th Edition of the Bodex Social media hangout

The event was moderated by the visionary Bodex Florence Hungbo, who guided the discussions with her signature poise and depth. Representing Governor Babajide Sanwo-Olu, Dr. OreOluwa Finnih, S.A. on SDG who delivered a keynote address on behalf of the governor, who was on an official trip.

The presence of Dr. OreOluwa Finnih highlighted the Lagos State Government’s commitment to leveraging social media as a tool for growth and societal well-being.

The Bodex Social Media Hangout is a distinguished media talk-shop fostering collaboration among social media users, professionals, and stakeholders. Focused on promoting responsible digital citizenship, BSMH aligns with the United Nations Sustainable Development Goals (SDG 3) to enhance the well-being of users and encourage cultural and societal advancements through social media.

The event emphasized the urgent need for Nigeria to address challenges such as fake news, cyberbullying, and online harassment.

A recent survey by The Guardian Nigeria revealed that 86% of Nigerians have encountered fake news, reflecting the pervasive influence of misinformation on social stability. Additionally, issues like mental health threats, cybercrime, and privacy concerns were discussed as critical challenges requiring immediate attention.

Through its sessions, the event showcased how social media has become a powerful tool for fostering awareness, driving economic growth, and promoting cultural exchange. Speakers and panelists also examined the darker side of digital platforms, including the rise of cyberbullying, mental health issues, and the spread of divisive content.

The event featured an impressive lineup of speakers and panelists who provided unique perspectives on the influence, power, and impact of social media:
Dotun Babatunde – The Impact of AI on Social Media

Dotun Babatunde explored the transformative role of Artificial Intelligence in the social media landscape, emphasizing its impact on the “attention economy.” He remarked, “We live in an attention economy, where human attention is a scarce commodity.” Babatunde explained how AI-driven algorithms prioritize engagement, often amplifying sensational content, but also creating opportunities for personalized and meaningful interactions. He encouraged users and creators to approach AI with a balanced perspective, recognizing both its potential and pitfalls.

A/Prof Tayo Popoola Ph.D. – Social Media: The Influence, Power, and Impact

Associate Professor Tayo Popoola from the Department of Mass Communication, University of Lagos, provided a thought-provoking analysis of social media’s role in society. He stated, “Social media is a double-edged sword: it empowers the voiceless but also creates spaces for misinformation and toxicity. The challenge lies in managing its influence responsibly.” Prof. Popoola underscored the importance of digital literacy in enabling users to harness the benefits of social media while mitigating its negative impacts.

Akin Olaniyan – Navigating the Social Media Age: Clout, Influence, and the Ethics of the Attention Economy

Akin Olaniyan delivered a compelling critique of clout-chasing in the social media era. He commented, “Give any moron a smartphone, and anything and everything becomes content. To such a fellow, clout-chasing is an end in itself, and the smartphone just makes it super-easy.” Reflecting on the quality of content creation, he added, “I am tempted to believe that their choice of subjects reflects their intellect, with the more empty-headed being the most daring.” Olaniyan called for ethical standards in digital content creation and urged society to value substance over virality.

ACP Olumuyiwa Adejobi – The Digital Detective: Solving Crimes in the Social Media Age

The Force Public Relations Officer, ACP Olumuyiwa Adejobi, showcased how social media has revolutionized law enforcement. He stated, “Social media is not just a platform for entertainment; it’s a valuable tool for law enforcement. By leveraging the power in the mass number of social media active users, we can solve more crimes and make our communities safer.” Adejobi shared examples of cases solved through digital platforms and emphasized the need for digital-savvy officers to maximize this potential.

In addition to the keynote speakers, the panelists brought fresh insights and diverse expertise to the event. Notable contributors included:
Olufemi Oguntamu, CEO of Penzaarville Africa.
Tomiwa Talabi, Founder/CEO of Lagos Life Influencer.
Dayo Oketola, Author, PR Consultant, and Former Editor at The Punch.
Iyabo Ojo, Actress, Filmmaker, and Influencer.

Hosted by celebrated media personality Frank Edoho, the event featured workshops, live sessions, and networking opportunities, creating an interactive atmosphere for attendees. Discussions covered a range of topics, from personal branding and content creation to the role of digital platforms in fostering community and enhancing security.

The panelists emphasized the power of social media in amplifying voices, holding leaders accountable, and fostering a sense of global connection. However, they also called attention to the darker aspects of the digital world, advocating for measures to combat negativity and promote a safer online environment.

Dr. OreOluwa Finnih reaffirmed the Lagos State Government’s vision of creating a digital ecosystem that promotes economic growth, cultural exchange, and societal well-being. The event’s mission remains clear: to foster collaboration, combat negativity, and shape Nigeria’s digital landscape for the better.

The Bodex Social Media Hangout remains a leading force in shaping Nigeria’s digital landscape.

In the words of Bodex Florence Hungbo: “Social media is the new oil well, Let us go fetch it.”

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Rejoinder: “I Don’t Know Justice Osiagor from Adam”: Adegboruwa and the Distortion of Truth

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By Valentine Idedia

It is regrettable and deeply troubling to read Ebun Adegboruwa SAN’s feeble response titled “I don’t know Justice Osiagor from Adam,” in an attempt to deflect attention and create a diversion through disinformation, all while a court case is ongoing. This has been a hallmark of this simple civil dispute since it began in 2022.

Frankly, no one is concerned about whether Adegboruwa knows Justice Osiagor. He is free to associate with the judge, but that should not interfere with a case of this significance. The real issue is Adegboruwa’s disregard for the judicial process, which has led to unnecessary controversy.

The case centers on Maurice Etim, a minority shareholder and director of several companies within the Edmark Group, and his co-director, Sam Low Ban Chai, a Malaysian businessman under investigation by Interpol for serious criminal offenses, including forgery, fraudulent corporate practices, and money laundering.

Etim claims that his signature was used without his consent for corporate resolutions, financial statements, tax filings, and more. These allegations prompted an official investigation, and the Nigerian Attorney General, in collaboration with Interpol, has uncovered substantial evidence, including over 500 bank accounts opened in Edmark’s name without Etim’s approval.

The focus now should be on Adegboruwa’s behaviour throughout this case. Settlement talks initially occurred but broke down when Etim refused to agree to a condition barring him from pursuing legal action. Since then, Adegboruwa’s legal tactics have taken a concerning turn.

While Adegboruwa can claim not to know Justice Osiagor, his insistence (following his letter to the Chief Judge of the Federal High Court) that it must only be Justice Osiagor that will handle his cases on the Edmark matters is intriguing.

This is despite Justice Osiagor’s earlier decision in a sister case, which favours Adegboruwa, raising serious questions, where Osiagor held that the police should be stopped from investigating Maurice’s complaint of forgery of his signature on a board resolution—a document that is part of Adegboruwa’s defence to the Maurice petition for unfairly prejudicial conduct.

Adegboruwa described Justice Aneke as unfair. He is not satisfied that the matter is before Justice Dipeolu. The distinguished SAN wants the matter returned only to Justice Osiagor.

It appears that it is only Osiagor who can do justice in the legal world of Adegboruwa. Is he saying that all the other justices of the Federal High Court, including the senior Justices in the Lagos Division, are not fit and proper to be judges?

Issues of Judicial Bias
What is even more baffling is the series of petitions, motions, and allegations of bias put up by Justice Osiagor. Osiagor had previously handled a case involving Adegboruwa, creating a potential conflict of interest.

Etim’s counsel requested Osiagor’s recusal from two pending suits, and while Osiagor agreed to recuse himself from one, he refused to do so for the primary petition, where Adegboruwa represented the Respondents.

When Etim’s counsel appealed, Osiagor dismissed the motion for a stay of proceedings and vacated earlier interlocutory orders without formal application. He then appointed a junior auditor, Samuel Ibrahim, against Etim’s request for a more qualified firm.

Later, Osiagor replaced Ibrahim with Ariyibi, who was found to have a close connection to Osiagor’s church—a relationship not disclosed at the time.

Questionable Orders and Interventions
Etim’s counsel opposed the auditor’s actions and filed for intervention, but Justice Osiagor ruled against them. Additionally, Osiagor granted orders restricting Etim’s access to the Edmark Group’s premises in a separate petition, despite objections from Etim’s counsel.

Meanwhile, Adegboruwa filed a new action in the Lagos State High Court for more restraining orders, which were challenged by Etim’s counsel as an abuse of the court process.

To complicate matters further, the police were involved in enforcing these orders, despite questions about their legitimacy. The intervention of the Inspector General of Police was required to halt the unlawful execution.

Etim’s counsel also sought Justice Osiagor’s recusal from the subsidiary petition, which was granted in November 2024.

Public Concern
The public is left wondering: What is the nature of the special relationship between Adegboruwa SAN and Justice Osiagor? Why has Adegboruwa insisted that only Justice Osiagor should preside over this matter?

Justice Osiagor’s emotional outburst in court and his subsequent recusal do little to mask the apparent bias and possible collusion between him and Adegboruwa.

This situation is a clear example of the Tragedy of the Commons, where individuals act solely in their own self-interest, ultimately causing harm to all parties involved. This behaviour reflects a broader problem in Nigeria’s legal system.

Conclusion
Ebun Adegboruwa SAN’s actions in this case are tarnishing his reputation and casting a shadow over the legal profession. His tactics, including judicial intimidation, obstruction of justice, and the abuse of state power, suggest that his earlier image as a human rights advocate may have been a façade for self-serving ambitions.

By manipulating legal processes for personal gain, Adegboruwa risks losing the respect he once commanded and may be remembered not as a defender of justice, but as a legal villain who uses his position to manipulate the law.

Valentine Idedia, Sales and Marketing Specialist and has followed the court proceedings closely. He is also an an avid interest in fighting injustice

 

 

Reference: https://www.facebook.com/share/p/1FSpUJ9gQU/

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Entertainment

Exclusive: Why Funke Akindele Left Femi Adebayo’s Seven Door Movie Premiere in Anger

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Funke Akindele, a prominent actor and producer celebrated for her recent film release, “Everybody Loves Jenifa,” was once again the center of attention during the premiere of her former lover, collaborator, and fellow actor Femi Adebayo’s much-anticipated movie, “Seven Doors.” This event took place at the Imax Cinema in Lekki Phase 1 on December 11, 2024. Many guests, including cast and crew members, gathered to get a glimpse of the new film, which is slated for release on Netflix tomorrow.
Eyewitness accounts reveal to CITYSPY that; Funke Akindele arrived at the venue accompanied by a group of about five individuals, consisting mainly of her assistants. However, Funke was the only member of her entourage to possess an access tag, as mandated by the event organizers, who had instructed security personnel to prioritize those with tags for crowd control purposes. While Funke and one other individual were allowed entry, the remaining three members of her party were denied access due to the security team not recognizing their association with her.
Instead of engaging with the security staff to clarify the situation—similar to how veteran actor Prince Jide Kosoko managed to gain entry for himself and his daughters, who also lacked tags—Funke reportedly became agitated. She expressed her frustration and abruptly left the event before the premiere started, making her way toward her car. Witnesses noted that many attendees expected her to handle the situation with more composure; after all, the security personnel were simply performing their duties.
As the incident unfolded, several senior actors present at the premiere attempted to intervene, calling Funke in hopes of calming her down and facilitating a resolution. However, she dismissed their concerns, got into her vehicle, and instructed her driver to leave the premises. This display of impatience and disregard for the assistance offered by her peers left a sour taste in the mouths of many attendees, who questioned why Funke Akindele, known to have a cordial relationship with Femi Adebayo, would react in such a manner—especially considering that Femi had supported her at her own movie premiere just days prior.
However, several eyewitnesses countered his perspective, explaining that it was Funke who had escalated a minor issue into something significant, when all that was required was a bit of patience and understanding to resolve the misunderstanding.
The reactions from veteran colleagues within the industry were overwhelmingly negative, as many felt that Funke’s behavior was not only insulting but also unbecoming of someone of her stature. They expressed their disappointment, noting how they had tried to reason with her as she departed the event without acknowledgment. Such responses have sparked discussions among industry peers about the importance of humility and professionalism, especially in public settings.

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