The former Minister of Defence, Lt. General. Theophilus Yakubu Danjuma (retd.) is no new name when you talk about politics and business in Nigeria. Theophilus Danjuma is a Nigerian politician and all-round businessman with investments in different sectors across and beyond Nigeria.
Danjuma is known for his oil and gas business, having established the company as far back as 1995. The oil and gas exploration and production company called South Atlantic Petroleum (SAPETRO) was established when Danjuma purchased a prized oil block from the then military Head of State, Gen. Sanni Abasha. The oil field exploration license is said to have cost him a whopping $25 million at the time.
This deal made Danjuma so wealthy that he became one of the wealthiest Nigerians alive. However, what some people do not focus on is the fact that the former defence minister also has an established real estate business.
TY Properties
Since 1998, Theophilus Danjuma has become a billionaire who owns hotels and real estate in Nigeria and across the world.
Danjuma knew the effect of the real estate business as he invested his oil money into setting up his company called TY Properties (UK) Ltd. The company, which handles the properties of TY Danjuma, is involved in the business of real estate development. The company also rents out commercial properties in the United Kingdom (UK), and private properties in Singapore and the United Kingdom.
The company is responsible for the full refurbishment of The Kings Arms Hotel, a Grade II-listed boutique hotel in Hampton Court in UK which was once the home of King Henry VIII.
According to Bloomberg’s report of 2019, Danjuma owns not less than 30 properties worldwide some of which include hotels and luxury apartments. The report also disclosed Danjuma’s net worth to be about $1.2 billion (N432billion).
In addition to the Kings Arms Hotel, the Danjumas have developed residential properties this year in Esher and Wimbledon. They also own a boutique hotel in Lagos, one which serves beef carpaccio and lobster bisque in one of three dining areas, while displaying works from the family’s art firm.
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Shipping business
Danjuma’s shipping business, Comet Shipping Agencies Nigeria Limited was established in 1984, primarily to act as an agent for the Nigerian American Line (NAL). The business continued to grow and by the late nineties, it became one of the largest independent agents operating in Nigeria with experience in handling many types of vessels and cargo.
In 2009 Comet handled over 200 vessels at the ports of Lagos, Port Harcourt, Calabar and Warri. In 2005 NAL-COMET acquired a roll-in-roll-out port (RORO) in Lagos which made it the largest independent port operator in Africa.
Educational Background
Theophilus Danjuma started his schooling at St Bartholomew’s Primary School Wusasa, and then proceeded to the Benue Provincial Secondary School, Katsina-Ala for his secondary education. After completing his Senior School Certificate Examination in 1958, he received the Northern Nigerian Scholarship to study History at the Nigerian College of Arts, Science and Technology, Zaria (now known as Ahmadu Bello University, Zaria) in 1959. In 1960, he dropped out of the university to join the Nigerian Army in which he served the military for 19 years.
Philanthropy
Like some billionaires we know, Theophilus Danjuma is also a philanthropist. His foundation is called the TY Danjuma’s Foundation which was created in 2008 with the aim of alleviating poverty in communities. This is done through the provision of basic amenities, education for children and young adults while also providing free medical care for indigenous people.
The foundation has partnerships with over 50 NGOs throughout Nigeria, as well as the support and cooperation of the 36 state governors.
