Theophilus Yakubu Danjuma, a retired Nigerian Army General and influential business magnate, has built a legacy across the military, oil and gas, maritime, and philanthropic sectors.
As of April 2025, his estimated net worth stands at $1.1 billion, driven by strategic investments in oil exploration, shipping, and real estate.
Early Life and Education
Born on December 9, 1938, in Takum, Taraba State, Nigeria, Theophilus Danjuma hails from a respected farming family. He began his formal education at St. Bartholomew’s Primary School, Wusasa, and later attended Benue Provincial Secondary School, Katsina-Ala, where he demonstrated leadership qualities and captained the school’s cricket team.
In 1959, Danjuma enrolled at the Nigerian College of Arts, Science and Technology, now Ahmadu Bello University, to study history. However, his time in academia was short-lived as he left in 1960 to pursue a career in the military.
Military Career
Danjuma’s military career, which spanned nearly two decades, is marked by his rise through the ranks and involvement in some of the most pivotal moments in Nigeria’s history.
1960: Commissioned as a Second Lieutenant and participated in the UN Peacekeeping Mission in the Congo.
1966: Took part in the counter-coup that ousted General Aguiyi-Ironsi.
1967–1970: Served in the Nigerian Civil War, promoted to Lieutenant Colonel, and played a crucial role in key operations, including the capture of Enugu.
1975–1979: Appointed Chief of Army Staff under President Olusegun Obasanjo, helping to stabilize Nigeria’s armed forces post-civil war.
He retired from the military in 1979 with the rank of Lieutenant General.
Transition to Business
Following his retirement, Danjuma strategically entered the private sector. His business interests span maritime shipping, oil exploration, real estate, and telecommunications.
Nigeria American Line (NAL)
Founded in 1979, NAL was Danjuma’s first major private sector venture. The company facilitated cargo transport between Nigeria and South America, providing an indigenous alternative in a space dominated by foreign firms.
COMET Shipping Agencies Nigeria Ltd
Established in 1984, COMET served as a logistics partner and agent to NAL. It grew into a major port operations and freight management business in Nigeria’s maritime sector.
South Atlantic Petroleum Ltd (SAPETRO)
Founded in 1995, SAPETRO marked Danjuma’s entry into the highly competitive oil and gas industry. The company was awarded Oil Prospecting License (OPL) 246, one of the most valuable deep offshore blocks in Nigeria.
SAPETRO signed joint venture agreements with major international oil companies, including Total, and has generated billions in revenue through production-sharing contracts.
Real Estate and Global Holdings
Danjuma owns over 30 premium properties globally, including luxury apartments, hotels, and commercial complexes in Lagos, Abuja, London, and New York.
Political Influence and Public Service
Danjuma remained politically active after retiring from the military.
He served as Minister of Defence (1999–2003) under President Olusegun Obasanjo.
In 2010, he was appointed Chairman of the Presidential Advisory Council under President Goodluck Jonathan.
He has also served on national committees related to security, conflict resolution, and oil sector reform.
Net Worth and Asset Breakdown (2025)
As of April 2025, Theophilus Danjuma’s net worth is estimated at $1.1 billion, based on his holdings in:
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SAPETRO – through its production agreements and OPL 246
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NAL-COMET Shipping Group
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Global real estate investments
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Equities in Nigerian banks and industrial firms
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Private ventures in agriculture and logistics
According to Bloomberg, SAPETRO remains one of the most valuable privately-owned oil interests in Africa.
Philanthropy: TY Danjuma Foundation
In 2008, Danjuma established the TY Danjuma Foundation, which focuses on health, education, and economic development in underserved Nigerian communities.
Key Focus Areas:
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Healthcare: Free surgeries, mobile clinics, maternal care programs
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Education: Scholarships, school infrastructure, library and ICT support
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Grants: Funding for over 50 NGOs across Nigeria
Recent Developments (2024–2025)
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Danjuma was not listed on the 2025 Forbes African Billionaires list due to asset transparency standards, though analysts confirm his wealth remains above the billion-dollar mark.
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SAPETRO partnered with an Asian oil company to expand operations in West Africa.
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TY Danjuma Foundation launched a $10 million healthcare innovation initiative.
Global Recognition and Honors
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Honorary degrees from Nigerian universities
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National honors, including GCON (Grand Commander of the Order of the Niger)
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Awards for contributions to oil, national security, and humanitarian causes
Outlook
Danjuma’s wealth strategy is rooted in asset preservation, conservative expansion, and long-term value. With SAPETRO scaling further and his foundation expanding reach, his influence continues to shape both Nigeria’s economy and social development.
Net Worth Trend (2000–2025)
2000 – $100 million
2005 – $250 million
2010 – $450 million
2015 – $780 million
2020 – $950 million
2023 – $1.15 billion
2025 – $1.1 billion
