In this piece, platinumpost.ng chronicles the biography, family, education, career and net worth of Segun Adebutu.

Segun Adebutu is a Nigerian businessman, economist and philanthropist. He has business interests in oil and gas, shipping, mining, construction, real estate, agriculture and entertainment.

He is the chairman and CEO of Petrolex Oil and Gas, a company presently building the second largest refinery in sub-Saharan Africa.

FAMILY

Adebutu comes from a well-to-do family in Nigeria, a family of businessmen with entrepreneurship at its very heart.

His older brother has one of the largest oil palm plantations in West Africa and another brother runs a pig farm.

His father, Kensington Adebutu, founded the country’s most successful lottery and opened its first casino. He had competitors but his business stood the test of time.

He was renowned for having built a business on strong fundamentals that would outlast a generation.

Those are the values he passed on to his children and the ambitions of his son Segun: to build an oil and gas company to compete with the global international oil companies and outlive him.

Segun is married and blessed with two children: a daughter and a son. He ia an obsessive Chelsea supporter who likes openness and transparency.

EDUCATION

Segun had his undergraduate studies at the University of Ibadan, Oyo state.

CAREER

Adebutu is the Chairman, Petrolex Oil and Gas Limited. He has invested over $330m (a hybrid of equity and debt) in the tank farm, a 300m litre storage facility, the largest of its kind in sub-Saharan Africa.

The investment was in local currency, which was his saving grace. He has secured an agreement with the NNPC (Nigeria’s state owned oil company) for distribution and storage, and given his own needs (he will have 50 petrol stations by the end of the year with a target of 350 by 2022) he knows that he will have to build more capacity. In any case for him it’s a no-brainer.

Apart from his interest in business, he is also passionate about service to humanity. He can’t stand the sight of his fellow human beings in distress or want.

He set up a non-profit organisation in Ogun State to cater to the needy. Since he founded the NGO, Oladiran Olusegun Adebutu (OOA) Foundation in October 2016, he has splashed millions of Naira on several indigent people in the state.

NET WORTH

Adebutu is estimated to have a net worth of about $4bn