Nigerian oilman Muhammadu Indimi is one of Africa’s most successful businessmen. Indimi, who has a net worth of $500 million according to FORBES Magazine’s 2015 ranking of Africa’s richest people, is the founder of Oriental Energy Resources, a leading privately owned Nigerian oil exploration and production company. Oriental, which he founded in 1990, has three projects offshore of Nigeria’s Niger Delta region.
His current status in Nigerian society is a far cry from his origins. Born in Maiduguri, northern Nigeria in 1947, Indimi had a deprived childhood. His father was a poor hides and skin trader and the young Indimi could not get a formal education because his father could barely afford it. At a very young age, Indimi was forced to take over his father’s business. Indimi says it was the springboard to the success he enjoys today.
Indimi, who is currently working on his memoirs ahead of his 70thbirthday next year, rarely grants interviews to the media. He recently invited me over for a chat in Abuja, Nigeria, where he offered a sneak peek into his memoirs, recounted his life story, and spent well over an hour sharing five of the most important lessons he has learned in business. I share the lessons here, in his own words: Read more