RansomeKuku:
Silent, influential and rich rich. The palm oil Cartel.

Another tycoon to look out for in the oil palm sector is Rasheed Sarumi of Saro Africa. He's taking the oil palm industry by storm.

HisaacPlus:
Broad street Lagos, 1951

nairavsdollars:
This is the most handsome senator in Nigeria at the moment

KunleMax:
[url][/url]=https://www.thisdaylive.com/index.php/2017/06/03/emmanuel-ibru-a-bold-foray-into-deaf-football[url][/url]

[url][/url]=https://tribuneonlineng.com/what-we-are-doing-to-salvage-nigerias-oil-palm-industry-ibru-pofon-chairman/[url][/url]

[url][/url]=https://www.vanguardngr.com/2011/10/through-partnership-nigeria-can-learn-from-brazil’s-economic-development-ibru/[url][/url]

[url][/url]=https://edostate.gov.ng/obaseki-targets-100000-hectare-oil-palm-plantation-in-3-years/[url][/url]

[url][/url]=https://allafrica.com/stories/201108241147.html[url][/url]

olasaad:


Yeah awon Rasaki Okoya set. Those Baba's are just blessed and they living there life gently and quietly.

ChidiKalu:
Funny I remember his time at NFF Lmao. The 2002 NFF (then NFA) elections came with a lot of drama. Aliko Dangote was tipped for the NFF chairmanship position as the govt needed him to bring his financial muscle to the association. Back then the NFF was highly politicized and aso rock was directly involved, it was about "who is who" of the society.

Long story short, Dangote eventually stepped outside for Galadima for the chairmanship position, and declined serving on the board all together. Emmanuel Ibru was later appointed to replace Dangote on the board of the NFF as a govt nominee.

Time flies sha.

ChidiKalu:
otunba onye ezigbo aku. The Nigeria palm oil industry needs further investment and development. Potential billions of dollars to be unlocked.

NoSmoking:
Deep pockets

💪

OGterry:
I just found this and thought to share to support the documents you earlier shared. This is a STUDY on the "Nigerian palm oil industry" funded by UK's department for international development (DFID)

How can every research/study (foreign & domestic) point to the fact that Aden River (Ibru) is a major industrial player in the palm oil industry, yet someone who claims to be a palm oil guy and industry consultant foolishly argues otherwise? In fact this same person had never heard of the POFON you spoke about.

This same boy said 5k hectares of palm plantation is small & insignificant (in Nigeria) yet Ada Palms reputed to be one of the largest palm oil plantations in Nigeria is less than 5k hectares. The reality is that a lot of the major private plantations in Nigeria are less than 5k hectares, except the foreign/govt owned. The idiot had no reply after you posted the Wilmar documents.

That boy is literally an ignorant two faced liar. A clueless mofo.

OGterry:
Apparently he's the one oh. The silly casualobserver should tell us a more prominent indigenous player who operates above this level in the palm oil sector in Nigeria (the only indigenous player we know perhaps on similar level is Chief JB Adebutu). He should give us a name and the name of the person's palm oil company.

There are facts and evidence on ground that points to the fact that Emmanuel Ibru is a palm oil big boss. The man is grounded and entirely involved in the palm oil industry across board.

But the fool doesn't even know.

Lifemanage:

I like ur write up. U re definitely very informed

KunleMax:
If na Emmanuel Ibru you dey talk about (Osaze Odewingie's boss), then you dey correct. The man is "perhaps" the most prominent indigenous player in the Oil palm industry. Owns over 15k hectares of plantation in Nigeria. Na proper billionaire.


Cadidlady na you start this thread oh. Where you even dey sef?

ChidiKalu:


https://drive.google.com/file/d/15h1T7yl1trTN9Pb_02gVZDFRYp75NUAT/view?usp=drivesdk

https://drive.google.com/file/d/160xPzvzJSxKPgcz_SNA4HgVuvNqZfStA/view?usp=drivesdk

https://drive.google.com/file/d/15S0CwXoPqKic8rBEQ1jOGbdDhHXvhoAX/view?usp=drivesdk

casualobserver:


Your problem is ignorance. Best performance means nothing when talking about the value of a company. If a street seller uses his N10,000 to buy pure water and makes 50% profit, he is still worth only N15,000. The man who manufactured the pure water and sells N10.5b worth of pure water to distributors around the country with N10b in costs has a lower performance because his profit margin was 5% but who is wealthier? If you are rating both based on performance you will say the street seller performed better than the manufacturer but one is worth only N15,000 while the other is worth N10.5b. So when you ignorantly talk of “performance” what exactly are you talking about and what does it mean especially in relation to the subject matter, I.e the wealth of an individual? If you make 100% profit and you are the top performer it does not mean you are rich, if your shares are the best performing stock on the index and your company is a small company, it does not mean you are rich, what matters is the value of your stake in the company.

Please go and check the market cap of Ikeja hotels plc. They are only worth N24b or less than $20m. Dangote is not on the list of top 10 performers but Dangote’s profit in a year is probably more than the value of all those companies combined. In case you don’t understand what that means, Dangote can buy all those companies with the profit it makes in just 1 year.

If you do not understand things do not comment. Performance of a company has nothing to do with its value. You clearly do not understand what stock market performance of a company means. You clearly don’t own any shares. The problem with ignoramuses like you is you comment on things you have no knowledge of and make foooools of yourselves for the world to see. If you knew what you were talking about, I.e wealth, you would not have brought up the performance of a relatively small company as evidence of wealth. 1. It is a small company, 2) performance is no indication of wealth.

We are talking about dollar billionaires and evidence of such and in your ignorance and shamelessness you had the gall to disturb my peace to mention a company that is only worth $20m and of which the Ibru’s own less than 50%? We’re you dropped as a child? A billionaire will get more than twice the value of Ikeja hotels plc in a year just by putting his money in US government bonds (currently 4%) and going to sleep.

Having said that, the Ibru’s own less than 50% of the company ( so their stake and wealth tied up in the company is less than $10m) and the company is a serial loss maker. See below.


Do not drag me into this discussion anymore, I am tired of forced engagements with ignoramuses. I warned you cohorts to find better things to do than occupying your time with the perceived wealth of others and spend time trying to get your own.

PS: feel free to use google to find out the meaning of market cap and don’t bother thanking me for educating you, that’s my contribution to charity and the less privileged and the mentally deficient and unfortunate of society.

Finally, I keep telling you, if the Ibru’s who have been in business for over 60 years were billionaires, they would be on the Forbes list. There are ways to value the wealth of those whose businesses are private especially a business that has operated for over 60 yrs. Alakija and Adenuga’s businesses are private….but m0r0ns like you think you have more knowledge from beer parkour heists that Forbes.


You think billion dollars is beans? Or is it that you are confusing dollar billionaire with Naira billionaire? People like you are why the government is introducing school feeding programmes so that the citizens can get nutrients as children to develop their brains as youths when the brain is still able to develop so they don’t come on Nairaland as adults typing nonsense.

casualobserver:


My friend can you not see I have been ignoring you. I am not even reading your messages, this is he only one I partially read. I told you to provide the evidence Michael ibru was worth $8b as you claimed when he died. We all know that federal place hotel was insolvent when he died. It had debts of 17b and assets if N10b. As at that time they had given away 49% to an investor who later pulled out of the deal. The days of federal pace and Sheraton are over, when last did you hear of Sheraton or FPH except for the balmoral hall as a venue for weddings and parties? Nobody lodges at Federal place or Sheraton anymore.

I repeat don’t respond to me unless you have evidence of this $8b wealth or you are ready to admit you made it up or just hearsay. You are just talking out of hearsay and bear parkour Geist. The real rich ibru was Michael, Felix was just a normal average rich Nigerian who was probably not worth more than $10m when he died if that. Same with Alex. I am not so sure about Godiie but I know 100% feleix and Alex were not super wealthy as at the time they died or ever. Ibru is Michael, the others lived off the name and while they were millionaires were nowhere near Michael…not even close.

I advice you to find something doing with your life instead of obsessing about other people’s wealth or lack of. I am done with you.

KunleMax:
You see how foolish you are? No one quoted you. Na you jump come here.

Dangote is worth 13.5B$, Rabiu 7.6b$, Adenuga $5.6b = $26.7B. (2023 networth).

PWC senior partner, Sam Abu, stated that the top 100 billionaires in Nigeria are worth $68B. Which leaves 97 billionaires with the remaining $41.3B, that's atleast $400m per billionaire.

Mugu So how's Elumelu worth $135m? Or Elumelu is not amongst the top 100 billionaires in Nigeria?

He also stated that the three leading family bussinesses in Nigeria are worth over $20b, (Dangote, Ibru, Dantata, Folawiyo), were the family bussinesses mentioned in that article. Infact, the SA to president Tinubu on bussiness environment, specifically identified the Ibru family. Go read the article online.

You don't want us to count on the professional
opinion of a top asset manager, or the verifiable statement made by a PWC senior partner, or even the word of the SA to the president, but you want us to believe you a faceless font on nairaland? Even when you have shown that you are incorrigible and foolish.

Ibru family is old glory yet most of their bussinesses and investments are still standing, and they are still being mentioned as one of the top family business in Nigeria even in 2023. This same family was rated by Forbes as one of the top ten leading family bussiness in AFRICA in 2014. Dantata & Folawiyo families are also old glory & yesterday's story too? Ode!!

How the simplest of points fly over your head is beyond me. But then again, you have a porous brain.

You clearly have a thing against the Ibrus. Maybe you or your parents were sacked from one of their companies, or your family lost money in oceanic bank. Or something else...

Same you said Aden rivers is not a major palm oil player in Nigeria. PZ Wilmar documents were posted here that proved you wrong. You for respond to that one nah. Shameless fool.


See ehn!! You be mad person! abeg get out.

KunleMax:
$500m networth is very very poor. They are certainly worth above that.

If it was discovered by authorities that madam Cecilia alone was worth $3.5B (569B) in 2010 (more than Dangote and Otedola's networth combined as at the time). Common sense suppose tell us say the Family worth atleast three times of that amount in 2010. The thing be say folks mostly know about their domestic ventures & some of their interests are private. The family get mad & shady real estate investments across the world, their real estate portfolio alone overseas is possibly worth above $500m. For example, Atlanta folks fit tell you how the Ibrus were buying up the Atlanta property market in the 90s. They have considerable assets domiciled in the state of Georgia. Casualobserver dey only view things from a domestic lense!!.

casualobserver:


Abeg I have told you people to stop citing me in your beer parkour gossips. I deal in facts and evidence. When I make a claim I provide evidence/ citations. Dangote and Adenuga alone are worth $20b. Your so called article where is it?
Any properly educated person who has been to a university and written a dissertation knows you have to provide citation for your claims. The whole point in going to university is to train the mind in how to think critically and based on evidence…..not “they said”, “they said”! PWC can never cite IBRU as top3 in Nigeria. I challenge you to provide the article.


I repeat the Ibrus are past glory and yesterday’s story and I would be shocked if they are collectively worth $1b today. I stand by by claim.


You people should leave me out of your quackery and dick measuring contest. If it were your own dicks I might even understand. I don’t know what kind of grown men spend months talking about, are so obsessed with and take delight in making false claims about another man’s dick.
What do you gain from it?

Moh247:


For now, nobody can really beat Dangote in Lagos.. his investments are just too massive.

KunleMax:
Just last month, Shebi the special adviser to president Tinubu on bussiness economy said the likes of Ibru family, Dantata/Dangote family, Folawiyo, etc contribute over $200B to Nigeria's GDP. And PWC Nigeria has said the top 3 leading family bussinesses in Nigeria has a market cap of about $20b, and we all know the leading family conglomerates in Nigeria. Was Jowizaza and his father's name/bussiness mentioned? Or the Okunbor folks? they are not really relevant in the grand scheme of things. They were classified as "others", if they were even considered at all.

Talking about we should forget old name as if TotalEnergies, Ecobank, Midwestern Oil, Ibru port, Jetty, etc don't all exist till date.

You guys should keep arguing nonsense. I like how receipts come out everyday to debunk all these misyarnings here. E just be like say FG know say we dey on this topic.

Hedonisco:


Abeg make I laugh. Even some top level yahoo boys would dust his azz in that same Dubai.

Generally I don't need to mention some heavy names but trust me, 'ordinary' Jowi, Captain Okunbor's heir, and many more will run Obaro out of own.

ChidiKalu:


https://drive.google.com/file/d/15h1T7yl1trTN9Pb_02gVZDFRYp75NUAT/view?usp=drivesdk

https://drive.google.com/file/d/160xPzvzJSxKPgcz_SNA4HgVuvNqZfStA/view?usp=drivesdk

https://drive.google.com/file/d/15S0CwXoPqKic8rBEQ1jOGbdDhHXvhoAX/view?usp=drivesdk

Hedonisco:


Lol. I know it is not a comprehension problem. It is an impatience problem.

Read my post again slowly and understand my unambiguous point: Jowizaza is richer and more liquid than OBARO Ibru and many of the Ibru kids, one on one. And again I repeat currently, Jowi will run OBARO out of town when it boils down to the money doings that OBARO was infamous for in his prime.

If you're doubting that or relating it to Jowizaza's dad's so-called wealth, then you'll are deluded. This even has nothing to do with Jowi's father or his potential inheritance when he dies. I'm talking about essentially Self-made Jowizaza.

Hedonisco:


Abeg make I laugh. Even some top level yahoo boys would dust his azz in that same Dubai.

Generally I don't need to mention some heavy names but trust me, 'ordinary' Jowi, Captain Okunbor's heir, and many more will run Obaro out of own.

Hedonisco:


Even Tunde Folawiyo alone is wealthier than the Adelekes. But he is dead silent.

That said, it is ridiculous to say that the Ibrus are wealthier than Dangote. Not anywhere close to close. Forget old name. In fact, a lot of the new kids on the block with access to new money schemes (related or unrelated to government funds) would casually put the Ibrus to shame when it is a matter of cash. Even their previously conspicuously extravagant children (Obaro and Co) have been forced into hiding because they simply lack contemporary liquidity and can no longer compete!

Ahmeduana:

You don't know the Ibru family, you are only narrating from there later day events, ask around who owns continental fisheries, they owns lot of 5 ⭐ hotels, most lands in Apapa belongs to Ibrus dynasty, and almost all the family members are millionaires or billionaires, they also owns Guardian news paper.

Bizibi:
jowizaza Come on,this is ibru oooh,abeg calm down.

Hedonisco:


Abeg make I laugh. Even some top level yahoo boys would dust his azz in that same Dubai.

Generally I don't need to mention some heavy names but trust me, 'ordinary' Jowi, Captain Okunbor's heir, and many more will run Obaro out of own.

ChidiKalu:
Yes, The Ibru family is extremely wealthy and connected. I think the family "collectively" is wealthier than Dangote. They've got investments/assets in almost every important sector of the economy. The Ibru port complex alone is a multi-billion money spinner.

PS: The Adelekes are non-factor here. They don't have it like that. It's OBO that gave them that wealth PR. There are wealthier Yoruba families.