March 21, 2023

Global News

…The News First With Us!


3 min read


These are the best times for Jubril Adewale Tinubu, the mercurial entrepreneur dubbed “The King of African Oil”, by the renowned Forbes Magazine.


First he was named by ASKMEN magazine as one of the Top Ten CEOs in the world.  Also, his company has again been vindicated of any wrong doing for participating in the fuel subsidy scheme. This time around the sound and ethical practice of Oando was affirmed by the dreaded Aig-Imokhuede Committee on forensive review of fuel subsidy payments.


As if that was not enough, JAT has also been nominated for the Africa Investor Capital Markets Personality of the Year for the Ai Institutional Investment Summit- Index Awards shortlist 2012. Winners will be announced at the Ai Institutional Investment Summit- Index Awards, on 21 September 2012, at the New York Stock Exchange.


In a top 1o list of the magazines top world CEO, Wale Tinubu was ranked second. The top place was clinched by Lakshmi Mittal founder of the Mittal Steel and CEO of Arcelor Mittal. Other CEOs named in the list are Warren Buffet, John Werdelin, Mohammed Shahjahen, Laura Lang, Fujio Motaria, Jim Sinegal, Daniel Levy and Tim Cook.


Speaking on the nomination of Wale Tinubu, popularly called JAT by friends and colleagues, ASKMEN described him as “An ambitious entrepreneur who started out with just one leaky second-hand oil tanker, Tinubu is now the driving force behind a multi-million dollar enterprise that is one of Africa’s largest energy companies”.


AskMen is a free online men’s web portal , with international versions in Australia, Canada, the United Kingdom and the United State with 20 million unique visitors. Owned by IGN Entertainment a division of News Corporation with interest in media, digital distribution, and game technology,  AskMen is the leading  “Lifestyle – Men’s Sites” category.


Adewale Jubril Tinubu was born June 26 1967 in Lagos from Lagos Island of Eti-Osa local government. He attended Corona Primary School, Victoria Island, Lagos from 1973 to 1978, Federal Government College, Odogbolu, from 1978 to 1983, Framingham College, Suffolk, United Kingdom from 1983 to 1985, University of Liverpool from 1985 to 1988, where he obtained an LLB degree with a second class upper. He later obtained an LLM from London School of Economics from 1988 to 1989, specializing in International Finance and Shipping and Nigerian Law School from 1989 to 1990.


Prior to becoming the Group Managing Director of Oando Group, he served as the Executive Director of Ocean and Oil Services in 1995, Executive Director, Finance and Administration in Unipetrol in 2000 and Managing Director of Unipetrol in 2001.


He started his career with as advocate with the family law firm. In 1994, Wale Tinubu, Jite Okoloko and Mofe Boyo came together to establish Ocean and Oil Limited, an indigenous oil company, to supply and trade petroleum products worldwide. In December 2001, Tinubu and his team made a shock purchase of Italian Agip Petrol’s 60 percent stake in Agip Nigeria Plc, for $74 million. Unipetrol and Agip was later fused into one and the Oando brand was born.


Tinubu led Oando to be the first African company to achieve a secondary listing on the Johannesburg Stock Exchange. He has also achieved another milestone with the completion of the Canadian oil & Gas firms, Exile Resource giving birth to Oando Energy Resources.  He will be most recognized for turning a mono-product called Oando Marketing into an energy giant with investments across the energy chain


Wale Tinubu was named a Young global leader by the World Economic Forum in 2007 and a member of the Global Agenda Council for the future of Africa in 2008. In 2010, he won the Africa’s ‘Business Leader of the Year’ award by the African Business Magazine and the Commonwealth Business Council on the basis of his contributions to the development of the African Oil and Gas industry. In 2011, he was awarded the ‘African Business Leader of the Year’ by Africa Investor.

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