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LAGOS – In recognition of his outstanding contributions to Nigeria’s oil and gas industry, as well as his commitment to corporate excellence and philanthropy, Ernest Azudialu-Obiejesi, Chairman of Nestoil Group, has been named the Telegraph Newspaper’s Businessman of the Year 2024.
The prestigious award was presented to him on February 21, 2025, at the New Telegraph Awards Ceremony held at the Balmoral Event Center, Federal Palace Hotel, Victoria Island, Lagos. The event, attended by industry leaders, policymakers, and dignitaries, celebrated individuals and organizations that have made significant contributions to national development in various sectors. Azudialu-Obiejesi’s selection as Businessman of the Year highlights the vital role he has played in reshaping Nigeria’s energy industry and beyond.
Azudialu-Obiejesi’s recognition by Telegraph Newspaper is a testament to his leadership in the energy sector, where he has established Nestoil as a dominant force. Under his direction, Nestoil has grown into West Africa’s largest indigenous Engineering, Procurement, Construction, and Commissioning (EPCC) company, specializing in the delivery of complex pipeline projects. With a firm commitment to excellence, the company has successfully executed high-stakes projects in collaboration with international oil majors such as Shell, Chevron, and Mobil.
His expertise and forward-thinking strategies have helped the company maintain global standards in an industry that is crucial to Nigeria’s economy. Through its various subsidiaries, Nestoil has contributed significantly to infrastructure development, enhanced local content, and improved the overall efficiency of the oil and gas sector in Nigeria. His ability to navigate regulatory landscapes and adopt cutting-edge technology has placed Nestoil in a league of its own within the industry.
Beyond Nestoil, Azudialu-Obiejesi has successfully diversified his business portfolio through the Obijackson Group, which includes subsidiaries such as White Dove Shipping, B&Q Dredging, and Shipside Drydock. These companies cater to different aspects of the maritime and energy industries, reinforcing Nigeria’s position as a hub for oil and gas exploration and trade. His investment in these sectors has not only contributed to Nigeria’s industrial development but has also created numerous employment opportunities for thousands of Nigerians. Additionally, his work with Neconde Energy Limited has played a pivotal role in the exploration and development of oil and gas assets in Nigeria, reinforcing the country’s energy security. Neconde Energy Limited, an independent oil exploration and production company, has been instrumental in reviving dormant oil fields, increasing crude production, and optimizing Nigeria’s energy resources. His strategic foresight has enabled Neconde to leverage partnerships with both local and international stakeholders to achieve operational efficiency and sustainability.
While his business accomplishments are remarkable, it is Azudialu-Obiejesi’s philanthropic endeavors that set him apart as a leader committed to social impact. Through the Obijackson Foundation, he has provided scholarships for over 200 students, ensuring that children from underserved communities receive quality education. His vision for educational empowerment extends beyond financial assistance; he actively promotes skill development and vocational training to prepare young Nigerians for the evolving job market. His support extends to healthcare initiatives, including the establishment of the Obijackson Women and Children’s Hospital, a modern medical facility that offers treatment to those in need, regardless of financial status. The hospital provides state-of-the-art medical services, with a focus on maternal and pediatric care, making a tangible difference in the lives of many Nigerians who previously had limited access to healthcare facilities. Through regular health outreach programs and community-driven initiatives, Azudialu-Obiejesi continues to bridge the healthcare gap in Nigeria, ensuring that vulnerable populations receive quality medical attention.
Azudialu-Obiejesi’s dedication to philanthropy was further demonstrated during the Dennis Memorial Grammar School (DMGS) Old Boys Association Class of 1978 Reunion Gala Night, where he pledged an annual commitment of N6,060,015 for life and health insurance schemes for his classmates and their spouses. This initiative highlights his deep-rooted values of camaraderie and community support. His generosity has gone beyond monetary contributions; he actively participates in mentorship programs, offering guidance to young professionals and entrepreneurs looking to make their mark in various industries. His personal approach to philanthropy reflects his belief that true leadership involves giving back to society and fostering an environment where others can thrive. By ensuring that his former classmates and their families have access to healthcare and insurance, he has set a powerful example of lifelong commitment to friendships and shared responsibilities.
His contributions to education are evident in the establishment of Gonzaga Jesuit College in Okija, a school founded by him and his wife with the aim of fostering intellectual and moral excellence among young Nigerians. The institution stands as a beacon of educational empowerment, preparing future leaders to contribute meaningfully to society. Gonzaga Jesuit College is built on a foundation of academic excellence, character development, and ethical leadership. Through a robust curriculum and state-of-the-art learning facilities, the institution equips students with the knowledge and skills needed to compete on a global scale. The school’s emphasis on discipline and holistic education aligns with Azudialu-Obiejesi’s vision of nurturing well-rounded individuals who will play pivotal roles in Nigeria’s future. His commitment to education extends beyond his personal institutions; he continues to collaborate with government agencies and international organizations to promote policies that enhance learning opportunities for Nigerian youths.
Azudialu-Obiejesi’s approach to business is guided by principles of integrity, transparency, and accountability. He has ensured that his enterprises not only achieve commercial success but also operate with a strong sense of corporate social responsibility. His leadership style balances ambition with empathy, setting an example for ethical entrepreneurship in Nigeria. He places a high premium on ethical business practices, advocating for policies that promote fairness, innovation, and sustainable development. His companies have been recognized for their adherence to corporate governance standards, reinforcing investor confidence and industry credibility. As a thought leader, he has also used his platform to engage in discussions about policy reforms, economic diversification, and energy transition strategies that can drive Nigeria towards a more sustainable and resilient future.
The Businessman of the Year award from Telegraph Newspaper further solidifies his status as a visionary leader. This accolade follows his recent recognition as The Capital’s Oil and Gas Personality of the Year, reaffirming his impact on the industry and his unwavering commitment to economic growth and social development. These accolades are not just personal triumphs; they serve as a reminder of the power of dedication, hard work, and an unyielding commitment to excellence. His journey serves as an inspiration to aspiring entrepreneurs, demonstrating that true success is measured not only by financial prosperity but also by the positive impact one has on society.
Azudialu-Obiejesi’s influence extends beyond business, as he continues to inspire through his dedication to uplifting communities and fostering sustainable development. His story is one of resilience, innovation, and benevolence, making his recognition by Telegraph Newspaper not just an individual achievement, but a celebration of leadership that drives positive change in Nigeria. With a legacy deeply rooted in enterprise, philanthropy, and nation-building, he remains a formidable force in shaping Nigeria’s economic landscape and improving the lives of countless individuals. As he continues to push the boundaries of what is possible, his story will remain a blueprint for those who seek to combine business success with meaningful social impact.
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