The youngest billionaire in Nigeria: Igho Sanomi

The youngest billionaire in Nigeria: Igho Sanomi

Forbes Magazine described Igho Sanomi as “One of the new generation of young professionals in Nigeria who are establishing themselves as young leaders of the private sector business community.”

Known to be among the youngest billionaires in Nigeria, with a net worth of over 1.3billion dollars. He is the CEO of Televeras group, a leading oil trading company in Africa, which was founded in 2004.

He is renowned for growing Taleveras into one of the largest physical commodities trading companies in Africa in just a little over a decade while remaining one of the most mysterious storied figures in Nigerian business considering he is reportedly Media Shy. 

He is, however, is starting to break cover in other to debunk the made-up stories that surround his success as ignoring them was no longer effective.

 The 41-year-old CEO has his Taleveras’ trading arm, based in Dubai and Abuja, and is now regarded as one of the largest independent energy traders in Africa. with additional offices spread across West Africa, Europe and Asia. 

The Company moves approximately 170 million barrels of fossil oil in a year.

Sanomi  runs a  foundation DICKENS SANOMI FOUNDATION that donates millions of dollars annually towards better education and health care in Africa and the world at Large

 He has twice been recognized by the world-renowned Institute Choiseul based in France, topping the ranks of the Choiseul 100: Economic Leaders for Tomorrow, which ranks young African leaders under 40 who will play a major role in the economic development of the African continent. 

Taleveras, as it is today, finds its earliest beginnings in 1998. Considering the high barriers to entry in Nigeria’s oil and gas sector, it seems unlikely that a 23-year-old would break-in. Yet that’s exactly what Sanomi did.

In his final year at the University of Jos where he studied Geology and mining, Sanomi was intrigued by the oil industry and started reading everything he could find about physical oil trading, searching for an opportunity to enter into the business of oil properly, he obviously found one. 

At the time it was popular for local Nigerian businessmen to bid for fuel import contracts from the state-owned oil company, and then upon winning the contracts, they resold the contracts to foreign oil trading companies for a tidy sum – without lifting a finger. Very few local business people wanted to do the dirty work. This is where Sanomi saw an opportunity. He began looking for some of the businessmen who won those contracts and offered them a deal they couldn’t refuse.

Sanomi and his team built the business gradually and before long he was able to win the confidence of financial institutions and shipping companies.

Igho Charles Samoni 11 was born in Delta State in the 17th of May 1975  to the late Dickens Oghenereumu Patrick who was a retired Assistant Inspector General of the Nigerian Police.