Mohammed Indimi Net Worth (Updated 2023)

Mohammed Indimi Net Worth $670 million, and he is the founder of the privately held Nigerian oil exploration and production business Oriental Energy Resources.  He serves as its chairman and largest stakeholder. Three projects are presently underway by Oriental in the Niger Delta area of Nigeria. All six of his kids are on the board of directors here. 

Introduction

Mohammed Indimi, the wealthy entrepreneur and chairman of Oriental Energy Resources, is in the oil sector. His son Ahmed is married to Zahra, the president’s daughter, making him an in-law of Muhammadu Buhari.

Read: Dapo Abiodun Net Worth (Update 2023)

Mohammed Indimi Biography and Net Worth

Mohammed Indimi’s father is a trader in hides and skins, hence he claims that the lack of financial resources in his family prevented him from attending a prestigious western school.

Someone’s rise from poverty to the ranks of Nigeria’s wealthy is really motivational. Mohammed Indimi, at the tender age of 10, launched his first company. He accompanied his father to the marketplace to observe the latter at work.

After his father passed away, he took over the family company and, thankfully, was able to grow it. As a result, he rises to become Cameroon’s preeminent exporter of skins and hides.

Read: Hakeem Belo-Osagie Net Worth (Updated 2023)

In 1990, Ibrahim babangida recognised his talents and appointed him to a position in Nigeria’s oil industry. Let’s go right to the nub of this article and find out how much money Mohammed Indimi has, shall we?

Mohammed Indimi Income from Business

In 1963, at the age of 16, Indimi had already learned the ropes and was prepared to go out on his own. He started a bike rental business, which he operated for a short time before he borrowed one hundred pounds to use as initial capital. Young Indimi quickly made a name for himself among the region’s merchants, thanks to his industriousness and the connections he’d made through his father’s network.

Fast-forward to 1967, when the Biafran War disrupted the flow of clothing to northern Nigeria, and Indimi has expanded his company to include the selling of clothing sourced from Cameroon and Chad.

Indimi had honed his business sense at an early age, allowing him to seize possibilities. In the early 1970s, he acquired 50,000 bags of flour from the Chief Commercial Officer of the Ministry of Commerce for Sokoto state at a discounted price and resold them in Maiduguri for enormous profits due to the city’s food scarcity.

Again in the late 1970s, when the South Chad Irrigation Project was in jeopardy of being delayed owing to water shortages, Indimi flew to Florida in quest of industrial water pumps and delivered the same. The first pump plant he established in Maiduguri brought him much more money, and he eventually dominated the market. According to Indimi, this is when his financial success began in earnest.

To begin his career in the oil and gas sector, he launched Oriental Energy Resources, an offshore oil exploration and production firm, in 1990. In that year, he was granted permission to drill three exploratory wells and obtain seismic data covering up to a thousand km.

Offshore Nigeria, Oriental Energy has grown from its initial holdings in Block OPL224 to encompass the Ebok Field (OML 67), Okwok Field (OML 67), and OML 115, all of which are now in development. Production on the Ebok Field kicked up in the second quarter of 2011, whereas on the Okwok Field it didn’t start until 2015.

Using the already built Ebok Terminal for the storage and dumping of crude oil, Oriental Energy has created a centre for offshore production.

Mohammed Indimi Business Career

Many community service projects, including ones in Akwa Ibom State, have been completed by his firm. In Enwang, the capital of Akwa Ibom State’s Mbo Local Government Area, Oriental Energy unveiled a N700 million, 100-unit, ultra-modern residential complex.

Through initiatives like as the construction of a 100-unit housing complex costing N600 million and the provision of food, clothes, schools, and clinics for the Internally Displaced Persons (IDPs) in Borno state, his foundation, MIF, has helped to empower those who have been impacted by the Boko Haram situation in the North-East.

Over 470 students in Akwa Ibom State, Nigeria, have been given scholarships thanks to Indimi, and he has donated a multi-million dollar International Business Centre to Lynn University in the United States.

Mohammed Indimi serves on the boards of Jaiz Bank, Arab Contractors, O.A.O. Nigeria Limited, and the International University of Africa in Khartoum, Sudan, in addition to being the Chairman of M & W Pump Nigeria Limited. Over the years, he has also contributed to the boards of other businesses.

 Mohammed Indimi Net worth in 2023

Forbes estimates that by 2023 Mohammed Indimi will have a net worth of $650.0 million. is the head of the privately held Nigerian oil explorer and producer Oriental Energy Resources, which he established in 1990.

 

Leave a Comment