Nigerian billionaire Mohammed Indimi, the founder of Oriental Energy Resources, has addressed the ongoing family dispute over a $435.1 million dividend, revealing in court that he bought out his daughters’ stakes for $10 million.
Indimi, one of Nigeria’s most influential oil moguls, is battling a lawsuit filed by his daughters, Ameena and Zara Indimi, who claim they were unfairly excluded from their share of the 2024 dividend. The sisters, who together held a 10% stake in Oriental Energy, argue they are entitled to $43.5 million. However, their father has firmly denied these claims, stating that they willingly transferred their shares and no longer have any claim to the dividend payout.
The lawsuit has drawn public attention, as Indimi, known for his low-profile business approach, rarely makes headlines. Despite the family drama, he remains one of Nigeria’s wealthiest businessmen, with Richlist Nigeria valuing his net worth at $1.6 billion—far higher than previous estimates.
New FPSO Vessel to Boost Nigeria’s Oil Output
While the legal battle continues, Indimi is pushing ahead with major oil investments. He recently unveiled a state-of-the-art Floating Production Storage and Offloading (FPSO) vessel, designed to store up to one million barrels of oil.
The FPSO, which will operate at the Okwok Oil Field in Nigeria’s Niger Delta, is expected to start with an output of 17,000 barrels per day (bpd) before scaling up to 30,000 bpd. This move is expected to boost Nigeria’s oil revenues and economic growth. The vessel is set to leave Dubai in early 2025 and begin operations by mid-year.
Oriental Energy: The Cornerstone of Indimi’s Billion-Dollar Wealth
Founded in 1990, Oriental Energy Resources has built a reputation as a key player in Nigeria’s oil and gas industry. The company operates three major offshore assets in the Niger Delta:
•Ebok Field (its flagship production hub)
•Okwok Field (where the new FPSO will operate)
•OML 115 (a strategic offshore oil block)
Despite Forbes discontinuing its tracking of his wealth after 2015, Indimi remains one of Nigeria’s most powerful businessmen. His assets extend beyond oil, with significant holdings in Jaiz Bank, where he is the largest shareholder.
Indimi’s Billionaire Status and Business Empire
While his net worth peaked at $670 million in 2014, many estimates failed to account for the true value of his oil empire. Richlist Nigeria now values his fortune at $1.6 billion, reflecting the immense worth of Oriental Energy’s assets and its growing influence in Nigeria’s energy sector.
Despite family disputes and shifting oil market conditions, Indimi continues to expand his business empire, reaffirming his position as one of Africa’s leading oil magnates.
