Energy tycoon Kola Karim’s new huge deal

Striking momentous deal is gradually becoming the second nature of the unassuming billionaire mogul, Kola Karim.

In 2012, with the swagger of the new generation, Kola’s Shoreline Energy International swept up former Shell assets to join the vanguard of Nigeria’s indigenous upstream revolution.

It was that deal that got many to pay attention to this stylish and dandy quiet wealthy dude who has been raking in million since he’s in his 20s. Once again in 2015, Kola’s Shoreline Power, a subsidiary of Shoreline Energy took a 75 percent stake in Gasland Company Limited, who had been granted the Lekki gas distribution franchise by the former Nigerian Gas Company (NGC).

The Lekki franchise gives exclusive rights to distribute and sell gas in the Victoria Island, Ikoyi, Lekki, and Epe areas of Lagos.

So, early this week, Kola activated the commencement of the real deal as his Shoreline Energy and The Shell Petroleum Development Company of Nigeria Limited (SPDC) signed an agreement to explore opportunities to buy, market, distribute and sell natural gas to consumers and companies in the Victoria Island, Ikoyi, Lekki, and Epe areas of Lagos.

The partnership, it is said, will create a significant boost to the Nigerian domestic gas market and help deliver tangible benefits to companies and households in Lagos.

Kola, the 48-year-old member of Nigeria’s newly minted power players, who owns a townhouse in Kensington, London as well as properties in Windsor, Nigeria and South Africa, alongside his younger brother, Tunde turned their mother’s trading company into a big player in the oil and construction sectors, shuttles between Nigeria and the western world frequently.

He is the current Chairman of the Board of Directors of Costain (West Africa) plc, Nigerian Ropes plc, and serves as a director in seven other companies including Ecobank Nigeria Plc, Schlumberger Testing & Production Services Nigeria Ltd, Trans Amadi Facilities Ltd, Grange Education Ltd and African Eagles Plc.

A couple of years ago, Kola, a patron for African Art and a fearsome member of Lagos Polo team, was named Young Global Leader by the World Economic Forum. In 2014 he was listed as one of the 10 Most Powerful Men in Africa by Forbes. His ‘OAK Foundation’, founded and run by his wife, Funke Karim, caters for underprivileged kids in Nigeria and the United Kingdom. The aim is to support education and vocational development with a focus on entrepreneurship.