Nigerian billionare businessman, Kessington Adebutu, a leading figure in the country’s economy, has left an indelible mark across multiple sectors with his multiple investments and successful ventures in the country.
Premier Lotto Limited, commonly referred to as “Baba Ijebu,” is a leading example of Adebutu’s entrepreneurial skills. With his strategic leadership, the company has expanded into a lottery and gaming platform that operates through a network of more than 200 primary agents and 16,000 retail gaming representatives.
Adebutu’s effective leadership and management strategies have positioned Premier Lotto as an influential brand in the lottery and gaming industries.
The 88-year-old Nigerian gambling magnate owns a majority 69.9 percent stake in Arbico Plc, a major player in Nigeria’s construction industry. Additionally, he has made astute investments in the financial services sector, including his shares in WEMA Bank.
His ascent from salesman to Premier Lotto’s visionary leadership exemplifies his commitment to building enduring businesses. In recent years, his philanthropic efforts have empowered many, boosting the national economy.
Billionaires.Africa analyzes seven highly valued firms reflecting Kessington Adebutu’s entrepreneurial prowess.
Premier Lotto (Baba Ijebu)
Premier Lotto, known as “Baba Ijebu,” is a leading lottery business founded by Kessington Adebutu. It has been around since 2001 and is a national provider of lottery services and sports betting. Premier Lotto has become well-known throughout western Nigeria, where it is distributed by 200 primary agents and 16,000 retail gaming representatives. This has had a significant effect on the gaming industry and on youth unemployment.
Adebutu owns 28.15 percent of Wema Bank Plc, a financial behemoth best known for ALAT, Africa’s first totally digital bank. His investment is held through Neemtree Limited, a strategic vehicle established in 2013 to buy stakes in specific firms. Adebutu’s investment in Wema Bank, a famous lender with decades of financial experience, demonstrates his ongoing impact in Nigeria’s financial environment.
Kessington Adebutu is the architect of Neemtree Investments, a conglomerate that includes gaming, manufacturing, media, energy, and real estate. Adebutu’s key investments highlight his pivotal role in developing Nigeria’s economy, including a remarkable 28.09 percent stake in Wema Bank.
Arbico Plc, founded in 1958 and listed on the Nigerian Exchange since 1978, is a major player in Nigeria’s construction industry, operating across multiple geopolitical zones. Adebutu is the Chairman of Arbico Plc and owns 69.9% of this full-service building and civil engineering contracting company.
Kessington Adebutu launched Wessex Petroleum in a strategic move into the oil and gas sector, adding to Nigeria’s energy landscape and playing a role in the country’s oil business. His involvement in the oil and gas industry, notably through Wessex Petroleum, demonstrates his diverse investment strategy.
Pentagon Real Estate
Adebutu’s real estate assets are managed through Pentagon Real Estate, a property development enterprise. This exemplifies Kessington Adebutu’s vision for infrastructure and urban development in Nigeria, which will help the country grow and progress.
Kessington Adebukunola Adebutu Foundation (KAAF)
Aside from business, Adebutu’s charity arm, the Kessington Adebukola Adebutu Foundation, is a symbol of empowerment. The foundation symbolizes Adebutu’s commitment to elevating the less fortunate and contributing to the country’s general development, with a concentration on education, healthcare, and cultural promotion.
Source: The Capital NG