Read The Huffington Post Article on Igho Sanomi
19th May, 2017
Huffington Post comments on Igho Sanomi's rise to success and his plans for the future.
Elizabeth Laiza King, who profiles businesses, people and innovative concepts that are changing the world, wrote in a feature for the Huffington Post.
"Sanomi’s success story flunks the usual narrative of palm-greasing and political-ball-licking rife in the rancid Nigerian oil and gas sector. In fact, his accomplishment in his almost-two-decades foray into the oil sector terrain hinges on his shrewd business acumen and focused organic growth, a feat reminiscent of American oil magnate, John D Rockefeller.
"But his rise to success has been greeted with allegations and cynicism. The oil tycoon’s name and business has made news for myriad of reasons. One of which is the allegation that Sanomi’s Taleveras high standing stems from sweetheart deals he benefited from the Goodluck Jonathan’s administration.
"While the Nigerian oil and gas sector has gained notorious reputation for its numerous shady underhand dealings, attributing Sanomi’s success to favors enjoyed from Jonathan’s administration doesn’t quite add up. For one, one of Taleveras’ most important revenue streams was cut off during Goodluck Jonathan presidency. In December 2014,Taleveras failed to clinch the renewal of its crude for product exchange contract it had operated for over three years. An arrangement it had with Duke Oil Incorporated, a subsidiary of NNPC. The development led to stormy waters for Taleveras, dealing with several lawsuits and rearrangements with financial partners. Those days are behind now and Sanomi says, in the meantime, Taleveras has decided to reduce its government tenders and oil lifting participation business."
Read the full article from the Huffington Post "Nigerian Oil Billionaire Igho Sanomi Focuses on Reduced Dependencies On State Contracts.