Mohammed Indimi – Biography And Net worth Of The Founder Of Oriental Energy

Alhaji Mohammed Indimi is a Nigeria-based oil mogul, entrepreneur, and philanthropist. He is the founder and chairman of Oriental Energy Resources Limited, a privately-owned oil exploration, and production company.

Even though he had a deprived childhood, he worked hard to become one of the most successful businessmen in Africa. His philanthropic gestures cannot go unnoticed; it has earned him numerous awards and honorary doctorate degrees from notable Universities in Nigeria, Ireland, and the United States.

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Background of Mohammed Indimi

Mohammed Indimi was born into Alhaji Kurundu family on the 12th of August, 1947 in the Northern part of Nigeria. He grew up in Maiduguri, Borno State with his parents. His father, Alhaji Mamman Kurundu was a renowned hides and skins trader who sort animal skins from villages around Maiduguri.

Unlike most successful Nigerians, Young Mohammed Indimi was denied formal education because his father could barely afford it. According to him in Premium Times, “…as an unlettered person by western standards, I still supervise people with masters and PhDs who are working in my organisation. No teacher of western education can say he or she had taught me how to pronounce the alphabet ‘A’ in my life.”

Mohammed Indimi has eight children including Ahmed Indimi who is the husband of Zahra Buhari, one of the daughters of the current president of Nigeria, Muhammadu Buhari.

Net Worth of Mohammed Indimi

According to Forbes.com, Muhammadu Indimi’s net worth as of 2015 was $500 million where he ranked 39th richest man in Africa.

His Little Beginning

At a very young age, Mohammed Indimi worked with his father in trading animal hides and skins. In 1963, when he has mastered the trade, he became independent and started his own business. Young Indimi managed his business so well that it earned him a good reputation among other big traders in the region.

As time went on, he expanded his business activities into the selling of clothes; this was during the period of the Biafra war. As such, getting goods into the Northern part of Nigeria was hard, industrious Indimi devised new means by crossing the Cameroon border to buy ready-made clothes to sell.

Diversifying his entrepreneurial Pursuit

In 1973, there was a shortage of flour in Maiduguri. The state government were importing bags of flour and selling at a reduced rate to the locals. Unlike Maiduguri, Sokoto state at the time had excess flour to sell. Mohammed contacted the Chief Commercial Officer of the Ministry of Commerce for Sokoto state who was in charge of the sale, he bargained and bought 50,000 bags of flour. He then transported the bags of flour to Maiduguri where he sold and made huge profits from the transaction.

Another business opportunity presented itself during Olusegun Obasanjo’s regime in 1979. At the time, the former president was to commission the South Chad Irrigation Project, a pumping station built with canals from Lake Chad.

Three months to when the station was to be commissioned, the water pulled back, and there was a need for industrial water pumps. Mohammed Indimi cashed in on the opportunity. He travelled to Florida to source for them for the water pumps, supplied the said pumps and which helped in completing the project.

As with every business opportunity in Nigeria, there is bound to be competitors, so he went a step ahead of competitors by monopolising the business. He did this by quickly setting up an agency so that no one could sell water pumps except him. In six years, he built the first pump factory in Maiduguri. The factory became extremely successful that he started making real money according to him.

Even though the water pump venture gave him “real money” according to him, that was just a tip of the icerberg compared to the goldmine he stumbled on.

Oriental Energy Resources Limited

While still in the water pump business, the astute businessman expanded his business portfolio into the oil and gas industry. He established an offshore oil exploration and production company named Oriental Energy Resources in 1990.

In September of that year, Indimi was awarded an oil prospecting license by the then Nigerian president; General Ibrahim Babangida. This license was for his oil company to acquire a minimum of up to 1000 km of seismic data and to drill at least three exploratory wells. Today, Oriental Energy has expanded its portfolio and currently has three assets under development in offshore Nigeria. These include Ebok Field (OML 67), Okwok Field (OML 67) and OML 115.

According to the company’s website, Oriental Energy is currently producing an average 19,000 barrels of oil per day from 27 producer’s well. From its inception to date, the company has produced over 60 MMbbls.

Mohammed Indimi’s Philanthropy

Mohammed Indimi is a well-known humanitarian whose philanthropic activities cuts across education, health, housing and social welfare. He launched the Muhammadu Indimi foundation (MIF) to lift individuals and families in Northern Nigeria out of hunger, illiteracy and poverty. In 2016, his foundation sponsored some northern students, mostly Borno indigenes, to study at the International African University of Sudan.

Also, the MIF has greatly empowered and supported people affected by the Boko Haram crisis in the North East. They built a 100-unit N600 million housing estate, provided food, clothing, schools and clinics for the Internally Displaced Persons (IDPs) by the Boko Haram Insurgency in Borno State.

Apart from his humanitarian gestures in the Northern state, Indimi donated a multi-million-dollar International Business Centre to Lynn University in the USA, which was named after him. Through his company and foundation, he built a 100 unit N700 million modern residential estate in Enwang, awarded over 470 scholarships in Akwa Ibom State and created a sponsorship program for University of Uyo’s Department of Petroleum and Chemical Engineering. 

Boards where Mohammed Indimi Serves:

Mohammed Indimi serves as the Chairman of M & W Pump Nigeria Limited; which partnered with MWI Corp of Deerfield Beach, Florida. He sits on the board of several companies including Jaiz Bank, Arab Contractors O.A.O Nigeria Limited and the International African University of Sudan.

Recognition and Awards

Officer of the Federal Republic of Nigeria.                                             2012

Honorary Doctorate of Humane Letters from Lynn University, Florida 2013

Honorary Doctorate in Business Adm. from University of Uyo    2017

Vanguard Businessman of the Year                                                           2017

Honorary Doctorate in Mgt Science from Nigeria Defense Academy 2018

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