Meet Africa’s youngest billionaire

39 –year-old Igho Charles Sanomi II said to be the youngest Africa’s Billionaire and he happens to be a Nigerian from Agbor in Delta State. His business foray ranges from oil, power sector, etc. and his net worth is said to be in the billions. He owns a private jet.

“Igho Charles Sanomi II was born in 1975 in Agbor Delta State, Nigeria, the fifth child (and first son) of a devout Catholic family. His father, the late Dickens Oghenereumu Patrick Sanomi hailed from Delta State Nigeria and was a retired Assistant Inspector General of the Nigerian Police. He is the young, dynamic founder and Chief Executive Officer of the Taleveras Group, an internationally recognized energy and power conglomerate with offices in London, Geneva, Cape Town, Dubai, the Ivory Coast, Abuja and Lagos. He also acts as Chairman or Co-chair on the boards of companies with interests as diverse as construction, telecommunications, shipping, aviation and real estate. Mr Sanomi’s mother, Mabel Iyabo Sanomi holds a Royal title of Yeye Jemo of Isotun Ijesha Kingdom in Osun State. She was a renowned nurse and medical entrepreneur from Osun State in South Western Nigeria.

Mr Sanomi entered the world of business shortly after completing his Bachelor’s Degree in Geology and Mining at the University of Jos in Northern Nigeria. He rose quickly to the position of Executive Director with Sarian Oil and Cosmos Oil AG, an international Oil Trading Company with its core activities in West Africa. During his time in this role he single handedly developed the company’s trading operations by negotiating the export and delivery of fuel oils from West Africa to the United States Gulf Coast. He also developed a strategic alliance with a major international oil trading group based in Zug, Switzerland. This partnership oversaw the import and export of millions of tons of refined petroleum products to and from the West African coast.

In the power sector, Taleveras Group is working in partnership with Nigeria’s Federal Capital Development Authority on the construction of several electrical substations. Additional substations are also under construction in the Niger Delta region as part of the National Integrated Power Project. In 2010 the Taleveras Group coordinated a number of well known power industry suppliers to construct an 185MW power station and distribution substation. The second phase of this project, involving the delivery of a further 200MW capacity is currently in progress. Most recently, the Taleveras Group lead a consortium that acquired a majority stake in the Port Harcourt Electricity Distribution company via a process of competitive tender. This company will be responsible for the distribution of more than 2,000MW of power in River State, Nigeria.