Hakeem Belo-Osagie Net Worth (Updated 2023)

Hakeem Belo-Osagie Net Worth is $600 million, according to Forbes Magazine. Mr. Belo-Osagie, Chairman of Etisalat Nigeria, as the 41st richest man in Africa.

Despite the ups and downs of his business career, Belo-Osagie persists and in 2014 was ranked as Africa’s 41st wealthiest person with a net worth of $600 million.


As Board Chairman of Etisalat Nigeria, Hakeem Belo-Osagie rose to prominence, although he has been instrumental in Nigeria’s economic growth for decades. He has lately expanded his interests to include the real estate market in addition to the energy market, banking, telecommunications, and other industries.

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Hakeem Belo-Osagie Biography and Net Worth

Hakeem’s parents, the late Professor Tiamiyu Belo-Osagie (a famous gynaecologist) and Iyalekitue Bazuaye (a nurse), welcomed him into the world in 1955. His father ran the Osagie Medical Centre, where many prominent Nigerians, like as General Ibrahim Babangida and President Shehu Shagari, sought treatment.

He obtained his early schooling in England, where he had moved with his family when he was three years old. When he was eight, his family moved back to Nigeria, where he finished elementary school and then went on to attend King’s College, Lagos. But then they moved again, so he finished high school in Wales at the United World College of the Atlantic.

Hakeem Belo-Osagie has an MA in Politics, Philosophy, and Economics from Oxford, an MBA from Harvard Business School, and a JD from Cambridge University.

His father, Professor Tiamiyu Belo-Osagie, was a well-known gynaecologist who cared for the Babangida family while Ibrahim was Nigeria’s military president.

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He started his formal education at King’s College in Lagos, Nigeria, and then transferred to the United World College of the Atlantic in Wales to complete his secondary education.

Hakeem Belo-Osagie Income from Business

Credit Transactions and Investments Limited (CTIL), an energy consultancy business, was created by him after he left his previous position in 1986. It’s hardly surprising that CTIL’s customers increased rapidly given the founders’ prior experience and network in the petroleum industry. Several American, European, and Japanese businesses sought advice from Hakeem’s firm.

Hakeem Belo-Osagie left the consulting company and now works in the financial sector. In 1998, he bought 51% of United Bank of Africa (UBA) from the government of Nigeria and rose to the position of chairman at the institution. He was the bank’s chairman of the board until 2004 when he decided to step down.In 1992, he founded FSDH Merchant Bank Limited, then known as First Securities Discount House, to further establish himself in the financial industry. One of the first merchant banks in the new period to receive a licence from the Central Bank of Nigeria is FSDH Merchant Bank Limited.


FSDH Merchant Bank Limited has expanded over the years to become a leading provider of financial services, enabling its customers to build permanent financial security. Hakeem Belo-Osagie is an introverted businessman.

Hakeem Belo-Osagie widened his focus to include the telecommunications industry as well as other crucial parts of the Nigerian economy. At Emerging Markets Telecommunications Services Limited, he presided as chairman of the board. Etisalat is a mobile phone service provided by Emerging Markets Telecommunications Services Limited.

Premium Telecommunications Holdings, his holding company, along with Mubadala Development Company and the Etisalat Group, run the business as a joint venture.

In a similar vein, the astute businessman has substantial holdings in Duval Properties Limited, a real estate development company. Duval Properties Limited is a business and residential real estate development firm. The $120 million retail complex in Abuja’s Jabi Lake has Duval Properties Limited as a sponsor.

Hakeem Belo-Osagie Business Career

With more than 18 million customers, Etisalat Nigeria is the fourth biggest mobile telecom network in Nigeria, and its chairman is Hakeem Belo-Osagie. Former Nigerian military leader Ibrahim Babangida’s family saw his father, a gynaecologist. A few oil deals, where he made his first fortune, came about because of the connections he made while working as a Special Assistant to the Presidential Adviser on petroleum and energy and later as a Special Assistant to the Minister of Petroleum and Energy.

He took over a major Nigerian commercial bank, United Bank For Africa, in 1998, but was later forced out of the bank by the Central Bank on claims of fraudulent activity on his part. In addition, he controls the Nigerian financial services provider First Securities Discount House, which deals in money markets and Treasury bills. He is one of the investors of a new $120 million mall being built in Jabi Lake, Abuja (the Nigerian capital). 

 Hakeem Belo-Osagie Net worth in 2023

Forbes magazine ranked Mr. Belo-Osagie, Chairman of Etisalat Nigeria, as the 41st richest man in Africa in November 2014, with a net worth of $600 million.


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