Muhammadu Indimi Net Worth, Biography, Age, Wives, Children

Muhammadu Indimi Net worth

Online publications claim that the Borno-state billionaire was valued at $500 (N500 Billion In Naira) million in 2023, but it’s a known fact that Muhammadu Indimi remains one of the billionaires in Nigeria.

Not only is he close to the corridor of power in the Northern parts of Nigeria, but he is also an in-law to President Muhammadu Buhari, in Nigeria’s political system, this means a lot.

Muhammed indimi's Biography

Muhammed indimi is a very rich man, founder and chief executive officer of Oriental Energy Assets, an oil investigation and creation organization. He is additionally an in-regulation to the former President Muhammadu Buhari, by uprightness of the way that his child, Ahmed, is hitched to Zahra, the former president's girl.

However he was not brought into the world with a silver spoon, Indimi, through sheer coarseness and assurance, had the option to remove himself from the paws of destitution into the hug of fortune. He is accepted to be worth more than $1bn with interests in various region of the economy, including oil and gas. He is likewise on the leading group of many organizations, including Jaiz Bank.

Indimi's Date of birth:

Indimi was brought into the world on August 12, 1947, in Maiduguri, the capital of Borno State. He just went to Quaránic schools yet he figured out how to talk, read and write in English.

Indimi's Family, Wife And Children

READ ALSO » Top 5 Billionaire Wives Of Wealthiest Men In Nigeria 2024

Alhaji Mamman Kurundu, Indimi's father, was a trader who procured skins and hides from nearby communities and sold them to those in need.

He attended a Quranic school alone as a child and did not have any formal education.

At ten years old, he started working with his dad in the privately-run company of selling creature stows away and skins and this was the way he began learning the demonstration or exchange which he developed to become who he is today.

The pioneer behind Oriental Energy is honored with 20 youngsters from 2 wives Fatima Mustapha Haruna, Samsu Samara, they are

Muhammed indimi 's Business Career

The Beginning of Oriental Energy In 1990, he established Oriental Energy Resources, an offshore exploration and production company, which marked the beginning of his first venture into the oil and gas industry.

He went on to get oil prospecting licenses (OPL) which permit him to acquire as much as 1000 kilometers of seismic information and drill somewhere around three exploratory wells in that year.

Oriental Energy began developing three properties offshore Nigeria with Block OPL224: Ebok, Okwok, and OML 115.

READ ALSO » Katherine Jackson Net Worth, Age, Children, Husband, Who Is Michael Jackson's Children

The Okwok Field began producing in the second quarter of 2015, while the Ebok Field began producing in the second quarter of 2011.

On the bank of Nigeria, Oriental Energy has assembled a seaward creation center point focused on the Ebok Terminal, which is utilized to store and transport raw petroleum to and from processing plants and different areas.

Source of Wealth:

Mohammed Indimi is the executive and driving investor of Oriental Energy Assets, a secretly held Nigerian oil investigation and creation organization he established in 1990. Oriental right now has three undertakings seaward of Nigeria's Niger Delta district. Six of his kids serve on the organization's board. His total assets dropped from an expected $670 million a year prior because of continuous low oil costs.

Forbes estimated the Borno-state billionaire's net worth at $500 million in 2015, but he has since invested an estimated $1 billion.

Philanthropy:

A serious humanitarian, Indimi set up the Muhammad Indimi Establishment in a bid to contact however many lives as would be prudent, with center around aiding weak families through neediness easing programs, as well as battling against yearning, ignorance and chronic sickness.

He is said to have fabricated a 100-unit N600m lodging home, as well as given food and dress to weak individuals dislodged by Boko Haram fear based oppressors. Through the foundation, Indimi has also constructed clinics and schools. In Mbo, Akwa Ibom State, it constructed a N700m residential estate with 100 units. This is even as he has granted north of 470 grants to understudies in Akwa Ibom. He likewise made a sponsorship program for the College of Uyo's Branch of Oil and Synthetic Designing. He gave an extravagant global business place to Lynn College in Florida, US of America. The middle is named after him.

Controversy:

The executive of Oriental Energy Assets was not known for debate, yet he was in the information in 2016 when the Borno-conceived tycoon gave a huge structure to Lynn College in the US.

The Nigerian media reported that the donation was worth $14 million, but his oil and gas company's spokesman denied the report and stated that the donation was $900,000.

READ ALSO » What Is Callie Khouri Net Worth? Net Worth, Age, Biography, Children

Although Muhammadu Indimi quickly corrected the public figure, he was criticized for giving such a large sum to an American university when his donations were more needed in his home state and throughout Nigeria.

In particular, on May 25, 2016, an editorial titled The Prodigal Billionaire in THISDAY Newspaper criticized the billionaire.

Some of his daughters went to Lynn University, which might have motivated Indimi to help.

Muhammadu Indimi Age

The Nigerian businessman was born on August 12, 1947. Therefore, he's 76 years old as of January 2023.

Career

Mr. Indimi founded Oriental Energy Resources Limited, a private oil exploration and production firm in 1990. Even if it’s hard to imagine, Indimi didn’t become a household name immediately.

Despite his well-deserved reputation as an oil and gas tycoon, Indimi got his start in the world of small-time entrepreneurial ventures.

After learning the craft at a young age, Indimi set out on his own in 1963 at the age of 16. When he couldn’t get the money to start his own business, he started renting out bicycles. By virtue of his youth and his father’s network, Indimi quickly gained a reputation as a successful dealer in the local area.

Indimi later includes the selling of ready-made garments he got from Aba and other Eastern states in Maiduguri and its environment, but when a Biafran conflict in 1967 cut off the supply of ready-made clothes to northern Nigeria, Indimi began crossing the borders to get them in Cameroon and Chad.

Indimi’s economic aptitude was established even though he was still a teenager but he already had all it takes to be successful.

How He Made His First Millions

When flour was scarce in Maiduguri in the early 1970s, he acquired 50,000 bags from the Chief Commercial Officer of the Ministry of Commerce for Sokoto state at a lower price and resold them for big profits in Maiduguri. From this single transaction, he made a fortune.

Journey to Success

When the South Chad Irrigation Project was at risk of being delayed due to a lack of water, Indimi traveled to Florida in search of industrial water pumps and delivered them to aid in the project’s successful completion.

To further his commercial interests, the first pump plant in Maiduguri was established by him.

Muhammadu Indimi Oriental Energy

His first foray into the oil and gas sector began in 1990 when he founded Oriental Energy Resources, an offshore exploration, and production firm.

He went ahead to acquire oil prospecting licenses (OPL) which allow him to obtain up to 1000 kilometers of seismic data and drill at least three exploratory wells in that year.

Ebok, Okwok and OML 115 are three of the three properties under development offshore Nigeria that Oriental Energy began with Block OPL224.

Production on the Ebok Field began in the second quarter of 2011, while that on the Okwok Field began in the second quarter of 2015.

On the coast of Nigeria, Oriental Energy has built an offshore production hub centred on the Ebok Terminal, which is used to store and ship crude oil to and from refineries and other locations.

Muhammadu Indimi Other Investment

• He is the Chairman of M & W Pump Nigeria Limited
• Board member of Arab Contractors, OAO Nigeria,
• International University of Africa in Khartoum, Sudan.

Recognition and Awards

For his achievements and philanthropic efforts, Indimi was awarded the honorary title of Officer of the Federal Republic of Nigeria in 2012.

Honorary doctorates from Lynn University, Florida, the University of Uyo, Nigeria, and the Nigeria Defense Academy have also been awarded to him throughout the years.

In 2017, he was named the Vanguard Businessman of the Year for his humanitarian efforts in Borno State.

Controversy

The chairman of Oriental Energy Resources was not known for controversy, but he was in the news in 2016 when the Borno-born billionaire donated a massive building to Lynn University in the United States.

The donation was rumored to be worth US$14 million by Nigerian media organizations, but the spokesman of his oil and gas company denied the report, stating that the donation was $900,000.

While Muhammadu Indimi swiftly corrected the figure in the public domain, he was criticized for donating such a humongous amount to an American-based university when his donations were more needed in his home state and across Nigeria.

Specifically, THISDAY Newspaper in an editorial entitled “The Prodigal Billionaire”, criticized the billionaire in its May 25, 2016 publication.

Some of his daughters attended Lynn University, which may have inspired Indimi to make a contribution.

Muhammadu Indimi Wive(s)

He's married to Fatima Mustapha Haruna and Samsu Samara. He has 20 children.

Mrs. Samira is one of his ex-wives. She's a Chadian and Swiss (dual citizenship).