Rich Nigerians Playing Big In GHANA’s Oil Business


(Chika Okafor)

Since Commercial Oil Production began in Ghana about 2 years ago, the country has become the newest bride of businessmen across the globe that have their noses in oil business.  Within this period, the volume of investments in the country’s oil industry has tripled.  Interestingly however, Nigerian businessmen have been investing in the Ghanaian Oil Industry even before oil was found in commercial quantity, before it climaxed with the commencement of production 2 years back.  In this piece, TOPE ALERU writes about rich Nigerians who are playing big in the thriving oil business in Ghana.



            Chief Chika Okafor is the popular multimillionaire Igbo businessman, who is playing big in the country’s  business set up.  He has vast interests in different sectors of the economy, all of which fall within umbrella of his company, the Chicason Group.  One of the subsidiaries of the group is A-Z Petroleum, which is one of the thriving companies in the oil servicing/lubricants sector in Nigeria.  A-Z Petroleum however is playing big in the  Ghanaian Oil industry.  The company has fine products that are doing well in the market in Ghana.



            It is a known fact that Forte Oil boss and respected Nigerian businessman, Femi Otedola is a big player in the Nigerian Oil Sector.  He is playing big in Ghana too.  Though, his company, African Petroleum has re-branded into what is known as forte oil in Nigeria today; it is still known as A.P in Ghana and it is doing well.



            The Sifax-Group is not a small player in the Nigerian business climate.  It is one of the highly respected business conglomerates in the country.  The man behind the business empire, Dr. Taiwo Afolabi is also one of Nigeria’s finest businessmen.  Sifax is a big player in the downstream oil servicing business and it operates one of the biggest storage and transfer facilities in that sector in the country.  Interestingly too, the company is replicating this feat in Ghana.  Sifax is a respected name in the Ghanaian oil industry.  The company’s lead office is located at Tema.



            Mr. Charles Adeniji is the coordinator of the multi-billion dollars cross-border gas project called the West Africa Gas Pipeline.  The project is to provide a link for the transfer of gas among West Africa countries.  Adeniji sits atop the project’s main office in Accra, Ghana.  The WAGP Project is one of the biggest investments in the Oil & Gas sector in the subregion.



            Highly respected Nigerian businessman of international repute, Tonye Cole is the Managing Director of Sahara Energy Group.  Port-Harcourt-born Tonye cofounded the Sahara Energy Resource Limited with his friends, Tope Shonubi and Ade Odunsi in 1986.  The company started out as an Oil & Gas Company whose core business at that time was trading of excess oil form the Port Harcourt and Warri Refineries.  Today, the company has diversified into storage depot and vessel ownership with a combined capacity of 55.000 metric tons and a fleet of 5 vessels moving products across West Africa.  Sahara Energy remains very strong and has set up trading offices in Geneva, Switzerland and also maintaining a strong presence in Ghana, Ivory Coast and Senegal.



            Benjamin Dagadu is in charge of the affairs of A-Z Petroleum Products Ghana Limited.  A-Z is a subsidiary of the Chikason Group, owned by Chief Chika Okafor.



            Mr. Olu Ade Onikita is the Managing Director of African Petroleum (A.P) in Ghana.  The company is doing so well in Ghana and has a reputation of its impressive performance in Nigeria working for him in the country.



            Oando Ghana Limited, an off-shoot of Oando Nigeria Plc is yet another Nigerian Oil Company that is doing well in Ghana.  Mr. Reuben Amakwah is in charge of the company’s affairs in Ghana and he is piloting the affairs very well positioning the company as one of the major players in the Ghana oil sector.



            His company, First Deepwater  Discovery Limited is a big player in Nigeria.  Respected, Ondo State born businessman.  Babatunde Babalola, the Chief Executive Officer of the company is also a big time player in the sector as well.  First Deepwater Limited is into down-stream oil servicing business and it holds a big stake in the sector.  The company’s impressive portfolio however is not limited to Nigeria.  It is a big player in Ghana too.



            She is in charge of UBI Energy Ghana Limited/Telerevas Group which is yet another  big player in the new thriving Ghanaian oil industry.



            He runs the affairs of Sahara Energy and Petroleum Resources in Ghana Limited.



One response to “Rich Nigerians Playing Big In GHANA’s Oil Business

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