After nearly two decades of holding on to his investments in the Nigerian telecommunications industry, shipping magnate Victor Odili has emerged as one of the biggest beneficiaries of MTN Nigeria‘s remarkable success, the most profitable subsidiary of African mobile telecommunications giant, MTN Group.
The leading businessman has established himself as a force to be reckoned with in the global business world, with a stake in the leading Nigerian telecom now worth a staggering $430 million.
His rise to prominence is the result of a combination of astute business acumen and a daring investment strategy that has seen him diversify his interests across multiple industries.
Odili’s story of success began after he graduated from Croydon Technical College in London and the London School of Economics.
He began his career with Lonhro Limited in London and later spent many years in Beirut, Lebanon. He eventually entered the private sector and rose to the position of chairman of Brawal Shipping Nigeria.
Today, he is the chairman and executive director of Aeromaritime Group, a parent company to over eight member companies operating in different sectors across Nigeria including shipping, stevedoring, and oil and gas.
Brawal Shipping Nigeria is presently a subsidiary of the Aeromaritime Group of Companies.
Odili ranks as one of Nigeria’s richest businessmen, as well as one of the wealthiest investors on the Nigerian Exchange, with a well-diversified portfolio of assets that spans the shipping and telecommunications industries, thanks to his 3.96-percent stake, or 806,886,900 ordinary shares, in MTN Nigeria.
As of the time of writing, the market value of his 3.96-percent stake in MTN Nigeria exceeded $430 million. This represents an increase of N24.61 billion ($53.48 million) since the start of the year when the value of his stake stood at N173.48 billion ($377 million).
The surge in value can be attributed to the double-digit year-to-date growth in MTN Nigeria’s share price. As of the date of this report, the market value of his stake had reached N198.1 billion ($430.5 million).
The recent increase in the market value of his stake in MTN Nigeria solidifies his position as one of the richest investors on the Nigerian Exchange, as well as one of the country’s richest people.
