Love or hate him, retired General and billionaire businessman Theophilus Yakubu Danjuma has become a man no one could ignore in the scheme of things. The reticent tycoon 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. Danjuma is ranked as one of the richest persons in Nigeria with interest in diverse lucrative sectors of the economy including telecoms, oil and gas, energy, real estate, pharmaceuticals, hospitality and maritime.
At 87, one would have expected the ageing tycoon to retire from the hustle. Rather the Taraba-born tycoon is showing no signs of slowing down as he advances in years. Just as he has been making fortunes from his oil & gas days, he is unrelenting as he just added a power generation into his fortune-yielding portfolio. Recently, the Federal Government formally handed over the Kashimbila Dam to a consortium led by KP Hydro Limited owned by Danjuma. The handing over took place at the Dam site in Kashimbila, Takum Local Government Area of Taraba State where Danjuma hails from.
Spotlight learnt that the Kashimbila Dam, originally a federal project, has been concessioned and will now be managed by KP Hydro. In addition to power generation, the dam is expected to transform the region into a tourism hub with an airport and a five-star hotel. The Kashimbila Dam was initiated by the Goodluck Jonathan administration to prevent flooding caused by water releases from Cameroon. But the dam has evolved into a vital source of clean energy for Taraba State.
The 40-megawatt hydroelectricity plant is expected to enhance electricity supply and stimulate economic growth. As an adjunct to the dam was an airport and a five-star hotel. It was learnt that the airport used to be an abandoned airstrip built by the missionaries in Kashimbi but was upgraded by Danjuma immediately the hydroelectricity project was awarded to his firm. He also built the five star hotel to serve his staff and the entire public on visit to the area.
Danjuma is a renowned Forbes rated billionaire and philanthropist with a net worth of over $2billion. He owns South Atlantic Petroleum Limited (SAPETRO), an oil exploration company, which owns upstream assets in Nigeria, Republic of Benin, the Central African Republic and Madagascar. He also owns NAL Comet, one of Nigeria’s largest shipping companies.
A recipient of the national honour of Grand Commander of the Order of the Niger (GCON) —the highest award in Nigeria bestowed on a non-head of state— Danjuma also owns no fewer than 30 property worldwide, some of which include posh hotels and luxury apartments.
Source: The SUN
