Love or loathe him, retired General and billionaire tycoon Theophilus Yakubu Danjuma has become a man no one could ignore in the scheme of things.
Whether in the defence, politics or business, the role of the reticent tycoon is guaranteed to be chronicled with a generous mention.
He is a rare icon simply matchless in astuteness and humanity. To those in authority —either in government, religion or business— the former Army Chief is one Nigerian they all treat with awe and respect.
He has become this indispensable figure across the spectrum.
At 88, (by Tuesday December 9) one would have expected the octogenarian tycoon to retire from the hustle. Rather the Taraba-born tycoon is showing no signs of slowing down as he advances in years. Danjuma has always had a strong entrepreneurial vision. He is ranked as one of the richest persons in Nigeria with interest in diverse lucrative sectors of the economy including maritime, oil and gas, energy, real estate, pharmaceuticals, solid minerals, hospitality and telecoms. His mainstay is South Atlantic Petroleum (SAPETRO), the upstream producer he founded in the 1990s which played a key role in opening Nigeria’s deep-offshore sector. Just as he has been making fortunes from his energy business through SAPETRO, the oil exploration company, Danjuma is unrelenting as he keeps expanding his fortune-yielding portfolio. His gaze has been focusing on the multi-billion dollar telecoms sector.
Danjuma’s dalliance with the sector started with a stake in then 9Mobile (now T2) but later through a significant investment in NatCom Development and Investment Limited —the company that acquired Nigeria’s defunct national telecom carrier, NITEL, and now trades as ntel.
In 2016, there was a huge expectation that a tougher competition would ensue in Nigeria’s telecoms industry with the former defence chief agreeing to lead a revolution for nTel as its Chairman. Nearly a decade later, it has been a rollercoaster. Nevertheless, ntel has re-jigged his operation with a new board of directors in the saddle in a move aimed at restoring investor confidence and repositioning the company in preparation for a commercial re-launch in January 2026. The decision marks a significant step in the turnaround plan being led by Danjuma, the company’s controlling shareholder and chairman. ntel is considering launching a fixed wireless home service as its initial market entry, which could precede a roaming or mobile virtual network operator strategy to compete in Nigeria’s telecom sector.
For decades, Danjuma, a recipient of the national honour of Grand Commander of the Order of the Niger (GCON), led a cohort of Nigeria’s wealthiest families who set up Family Offices overseas to formally manage their capital, legacy, and influence. His daughter, Hannatu, alongside a dedicated investment team, runs the TY Danjuma Family Office Ltd. The Surrey, England-registered vehicle is a sliver of Danjuma’s fortune as his SAPETRO and other operating assets are managed outside the entity. But his broader holdings include stakes in Notore Chemical Industries; Japaul Gold & Ventures; Nile Exploration and Development; and a long-established shipping and logistics enterprise: NAL-Comet Group. Danjuma has also built a presence in property and hospitality, with stakes in high-end real estate and a handful of boutique hotels in Nigeria and the United Kingdom.
Credit: The Sun