Segun Adebutu

{{short description|Nigerian businessman}}

{{short description|Nigerian businessman}}

{{Use dmy dates|date=December 2020}}

{{Use dmy dates|date=August 2024}}

{{Infobox person|image=Segun-Adebutu.jpg|birth_name=Olusegun Oladiran Adebutu|birth_date=May 4, 1974|education=[[University of Ibadan]]|occupation=Businessman, philanthropist and economist|title=Founder, CEO, Chairman of [[Petrolex]]}}

{{Infobox person

| name = Segun Adebutu

| image = Segun-Adebutu.jpg

| birth_name = Olusegun Oladiran Adebutu

| birth_date = May 4, 1974

| education = [[University of Ibadan]]

| occupation = Businessman, philanthropist and economist

| title = Founder, CEO, Chairman of [[Petrolex]]

}}

'''Segun Adebutu''' (born May 4, 1974) is a Nigerian businessman, economist and philanthropist. He has business interests in oil and gas, shipping, mining, construction, real estate, agriculture and entertainment. He is the chairman and CEO of [[Petrolex]] Oil and Gas, a company presently building the second largest refinery in sub-Saharan Africa.

'''Segun Adebutu''' (born May 4, 1974) is a Nigerian businessman, economist and philanthropist. He has business interests in oil and gas, shipping, mining, construction, real estate, agriculture and entertainment. He is the chairman and CEO of [[Petrolex]] Oil and Gas, a company presently building the second largest refinery in sub-Saharan Africa.

Adebutu is also Chairman of Bluebridge Marine Ltd, Bluebridge Minerals, Oladiran Agro-Allied Company and Oladiran Engineering & Trade Ltd.<ref>{{Cite news|title=OLADIRAN OLUSEGUN ADEBUTU; COMBINING BUSINESS WIZARDRY WITH SELFLESS PHILANTHROPHY IN UPLIFTING HUMANITY|work=Smile International Magazine|url=https://smileinternationalmagazine.com/oladiran-olusegun-adebutu-combinig-business-wizadry-selfless-philanthrophy-uplifting-humanity/}}</ref><ref>{{Cite news|title=My mum took me to three countries where I had sixteen operations as a child — Adebutu|work=Vanguard Nigeria|url=https://www.vanguardngr.com/2019/06/my-mum-took-me-to-three-countries-where-i-had-sixteen-operations-as-a-child-adebutu}}</ref> Segun Adebutu is the founder of Baseline Records Label, who signed on music artists like [[Skales]] and Saeon. He is also founder of Trade Nigeria Limited, and is a member of the Board of Premier Lotto, a gaming company based in Nigeria.<ref>{{Cite web|url=https://brandspurng.com/2019/04/08/petrolex-plans-250000-barrel-refinery-in-ogun/|title=Petrolex Plans 250,000 Barrel Refinery In Ogun|date=8 April 2019|website=Brand Spur|language=en-US|access-date=3 February 2020}}</ref><ref>{{Cite web|url=https://www.vanguardngr.com/2018/05/i-started-multi-billion-dollar-business-with-50-litres-of-fuel-i-sold-to-my-father-adebutu/|title=I started multi-billion dollar business with 50 litres of fuel I sold to my father — Adebutu|date=12 May 2018|website=Vanguard News|language=en-US|access-date=3 February 2020}}</ref>

Adebutu is also Chairman of Bluebridge Marine Ltd, Bluebridge Minerals, Oladiran Agro-Allied Company and Oladiran Engineering & Trade Ltd.<ref>{{cite news|title=Oladiran Olusegun Adebutu; Combining Business Wizardry With Selfless Philanthrophy in Uplifting Humanity|work=Smile International Magazine|url=https://smileinternationalmagazine.com/oladiran-olusegun-adebutu-combinig-business-wizadry-selfless-philanthrophy-uplifting-humanity/|archive-url=https://web.archive.org/web/20210415225842/https://smileinternationalmagazine.com/oladiran-olusegun-adebutu-combinig-business-wizadry-selfless-philanthrophy-uplifting-humanity/|archive-date=15 April 2021|url-status=dead}}</ref><ref>{{cite news|title=My mum took me to three countries where I had sixteen operations as a child — Adebutu|work=[[Vanguard (Nigeria)|Vanguard]]|url=https://www.vanguardngr.com/2019/06/my-mum-took-me-to-three-countries-where-i-had-sixteen-operations-as-a-child-adebutu|date=8 June 2019|access-date=31 August 2024}}</ref> Segun Adebutu is the founder of Baseline Records Label, who signed on music artists like [[Skales]] and Saeon. He is also founder of Trade Nigeria Limited, and is a member of the Board of Premier Lotto, a gaming company based in Nigeria.<ref>{{cite web|url=https://brandspurng.com/2019/04/08/petrolex-plans-250000-barrel-refinery-in-ogun/|title=Petrolex Plans 250,000 Barrel Refinery In Ogun|date=8 April 2019|website=Brand Spur|access-date=3 February 2020}}</ref><ref>{{cite news|url=https://www.vanguardngr.com/2018/05/i-started-multi-billion-dollar-business-with-50-litres-of-fuel-i-sold-to-my-father-adebutu/|last1=Sessou|first1=Ebun|last2=Majekodunmi|first2=Dolapo|title=I started multi-billion dollar business with 50 litres of fuel I sold to my father — Adebutu|date=12 May 2018|work=Vanguard|access-date=31 August 2024}}</ref>

Adebutu is founder and financier of the Oladiran Olusegun Adebutu Foundation (OOA), [[NGO|an NGO]] focused on economic empowerment, health, community investments, philanthropy, vocational enterprise for vulnerable women and children in crisis.<ref name="guardian.ng">{{Cite web|url=https://guardian.ng/news/ooa-foundation-bags-international-recognition/|access-date=23 November 2020|website=guardian.ng|title=OOA Foundation bags international recognition|date=19 November 2017}}</ref>

Adebutu is founder and financier of the Oladiran Olusegun Adebutu Foundation (OOA), [[NGO|an NGO]] focused on economic empowerment, health, community investments, philanthropy, vocational enterprise for vulnerable women and children in crisis.<ref name="guardian.ng">{{cite news|url=https://guardian.ng/news/ooa-foundation-bags-international-recognition/|access-date=23 November 2020|work=[[The Guardian (Nigeria)|The Guardian]]|title=OOA Foundation bags international recognition|date=19 November 2017}}</ref>

==Background==

==Background==

Segun Adebutu is born to the family of Kesington Adebukunola Adebutu, founder and chairman of Premier Lotto Nigeria Limited, who hails from [[Iperu, Ogun|Iperu Remo]], [[Ikenne]] Local Government, and Caroline Oladunni, from [[Odogbolu]], both in Ogun State, [[South West (Nigeria)|South West Nigeria]].<ref>{{cite web |title=Meet 'Segun Adebutu, the billionaire owner of Skales' record label, Baseline Records |url=http://thenet.ng/2016/06/meet-segun-adebutu-the-billionaire-owner-of-skales-record-label-baseline-records/ |newspaper=TheNET |date=1 June 2016 |author=Adedayo Showemimo |access-date=6 February 2017 |archive-url=https://web.archive.org/web/20170206195912/http://thenet.ng/2016/06/meet-segun-adebutu-the-billionaire-owner-of-skales-record-label-baseline-records/ |archive-date=6 February 2017 |url-status=dead }}</ref> Segun Adebutu, graduated in Economics at the University of Ibadan, and started trading in oil and gas in 2004.<ref name=":3">{{Cite web|date=17 May 2020|title=Billionaire Businessman Segun Adebutu's Giant Strides|url=https://www.thisdaylive.com/index.php/2020/05/17/billionaire-businessman-segun-adebutus-giant-strides/|access-date=23 November 2020|website=THISDAYLIVE|language=en-US}}</ref>

Segun Adebutu is born to the family of Kesington Adebukunola Adebutu, founder and chairman of Premier Lotto Nigeria Limited, who hails from [[Iperu, Ogun|Iperu Remo]], [[Ikenne]] Local Government, and Caroline Oladunni, from [[Odogbolu]], both in Ogun State, [[South West (Nigeria)|South West Nigeria]].<ref>{{cite news|title=Meet 'Segun Adebutu, the billionaire owner of Skales' record label, Baseline Records|url=https://thenet.ng/2016/06/meet-segun-adebutu-the-billionaire-owner-of-skales-record-label-baseline-records/|newspaper=TheNET|date=1 June 2016|last=Showemimo|first=Adedayo|access-date=6 February 2017|archive-url=https://web.archive.org/web/20170206195912/https://thenet.ng/2016/06/meet-segun-adebutu-the-billionaire-owner-of-skales-record-label-baseline-records/|archive-date=6 February 2017|url-status=dead}}</ref> Segun Adebutu, graduated in Economics at the University of Ibadan, and started trading in oil and gas in 2004.<ref name=":3">{{cite news|date=17 May 2020|title=Billionaire Businessman Segun Adebutu's Giant Strides|url=https://www.thisdaylive.com/index.php/2020/05/17/billionaire-businessman-segun-adebutus-giant-strides/|access-date=23 November 2020|work=[[This Day]]}}</ref>

== Petrolex Oil and Gas Limited ==

==Petrolex Oil and Gas Limited==

After starting with oil and gas trading in 2004, Segun Adebutu's ventures grew from small business into a world-class conglomerate with interests in shipping, mining, construction, infrastructure, real estate, telecommunications, and entertainment.<ref name=":3" />

After starting with oil and gas trading in 2004, Segun Adebutu's ventures grew from small business into a world-class conglomerate with interests in shipping, mining, construction, infrastructure, real estate, telecommunications, and entertainment.<ref name=":3"/>

In 2007, Segun Adebutu founded Petrolex Oil & Gas Limited, as a part of Petrolex Group.<ref name=":4">{{Cite web|title=Self-sufficiency in Refining Products|url=https://www.thebusinessyear.com/nigeria-2019/segun-adebutu-chairman-petrolex/vip-interview|access-date=23 November 2020|website=The Business Year}}</ref> For ten years, Adebutu quietly and organically nurtured his energy firm, Petrolex Oil & Gas Limited, into a key player in a volatile sector.<ref name=":3" />

In 2007, Segun Adebutu founded Petrolex Oil & Gas Limited, as a part of Petrolex Group.<ref name=":4">{{cite web|title=Self-sufficiency in Refining Products|url=https://thebusinessyear.com/interview/segun-adebutu-chairman-petrolex/|date=17 May 2019|access-date=31 August 2024|website=The Business Year}}</ref> For ten years, Adebutu quietly and organically nurtured his energy firm, Petrolex Oil & Gas Limited, into a key player in a volatile sector.<ref name=":3"/>

According to Segun Adebutu, he started trading small batches of petroleum products, which powered electrical generators in homes and industries across Nigeria. After facing congestion and distribution issues during the initial stages, he concluded that there was a need to create a company to solve the issues at hand. At that time, Storage and Distribution (S&D) seemed to be the best area to evolve into, and also the easiest in terms of capital.<ref name=":4" />

According to Segun Adebutu, he started trading small batches of petroleum products, which powered electrical generators in homes and industries across Nigeria. After facing congestion and distribution issues during the initial stages, he concluded that there was a need to create a company to solve the issues at hand. At that time, Storage and Distribution (S&D) seemed to be the best area to evolve into, and also the easiest in terms of capital.<ref name=":4" />

Back then, Segun Adebutu found the ideal place to set up an S&D facility in [[Ibafo]], which is on the border between [[Ogun State|Ogun]] and [[Lagos]]. After setting the foundation, he started real estate acquisition in 2010 and block construction in 2013, until December 2017, when Segun Adebutu came under the spotlight when he drew massive attention, including from Nigerian Vice President, Prof [[Yemi Osinbajo|Yemi Osibanjo]], following the announcement of his construction of Sub-Saharan Africa's largest tank farm as a part of his Mega Oil City project in Nigeria.<ref name="guardian1">{{cite news |newspaper= [[The Guardian]] |title= Petrolex Group to launch sub-Saharan Africa's largest tank farm |url= https://guardian.ng/energy/petrolex-group-to-launch-sub-saharan-africas-largest-tank-farm/ |date= 4 February 2020}}</ref><ref name=":3"/> The tank farm is a 300-million litre storage facility with 20 storage tanks.

Back then, Segun Adebutu found the ideal place to set up an S&D facility in [[Ibafo]], which is on the border between [[Ogun State|Ogun]] and [[Lagos]]. After setting the foundation, he started real estate acquisition in 2010 and block construction in 2013, until December 2017, when Segun Adebutu came under the spotlight when he drew massive attention, including from Nigerian Vice President, Prof [[Yemi Osinbajo|Yemi Osibanjo]], following the announcement of his construction of Sub-Saharan Africa's largest tank farm as a part of his Mega Oil City project in Nigeria.<ref name="guardian1">{{cite news|newspaper=The Guardian|title=Petrolex Group to launch sub-Saharan Africa's largest tank farm|url=https://guardian.ng/energy/petrolex-group-to-launch-sub-saharan-africas-largest-tank-farm/|date=4 February 2020|access-date=31 August 2024}}</ref><ref name=":3"/> The tank farm is a 300-million litre storage facility with 20 storage tanks.

Back then, it had the capacity to turnover 600 million litres of petroleum products every month, enabling products to be stored and distributed effectively and more efficiently, for better services and higher turnover.<ref name="guardian1" /> At the time of launch, it was expected that the tank farm project would be the largest product storage tank farm in sub-Saharam Africa and would create over 10,000 jobs.<ref name="guardian1" /> The company received its first cargo in Q2 of 2018.<ref name=":4" />

Back then, it had the capacity to turnover 600 million litres of petroleum products every month, enabling products to be stored and distributed effectively and more efficiently, for better services and higher turnover.<ref name="guardian1"/> At the time of launch, it was expected that the tank farm project would be the largest product storage tank farm in sub-Saharam Africa and would create over 10,000 jobs.<ref name="guardian1"/> The company received its first cargo in Q2 of 2018.<ref name=":4"/>

=== Mega Oil City ===

===Mega Oil City===

After the conclusion of the first phase of the Mega Oil City, the result was an infrastructure that covers 101 square kilometres, making it Africa's largest petroleum products hub, approximately 10% of the size of Lagos State. The first phase of the project was the Ibefun tank farm in 2018, a US$426&nbsp;million petroleum products storage facility with a 300-million-litre capacity, making it the largest and first of its kind in sub-Saharan Africa. The City also boasts 30 loading gantries and a 4000-truck capacity trailer park. It also reduced gridlock at the Apapa seaports by 60%.<ref>{{Cite web|url=https://guardian.ng/features/petrolex-mega-oil-city-to-ease-apapa-gridlock-by-60/|access-date=23 November 2020|website=guardian.ng|title=Petrolex mega oil city to ease Apapa gridlock by 60%|date=8 December 2017}}</ref>

After the conclusion of the first phase of the Mega Oil City, the result was an infrastructure that covers 101 square kilometres, making it Africa's largest petroleum products hub, approximately 10% of the size of Lagos State. The first phase of the project was the Ibefun tank farm in 2018, a US$426&nbsp;million petroleum products storage facility with a 300-million-litre capacity, making it the largest and first of its kind in sub-Saharan Africa. The City also boasts 30 loading gantries and a 4000-truck capacity trailer park. It also reduced gridlock at the Apapa seaports by 60%.<ref>{{cite news|url=https://guardian.ng/features/petrolex-mega-oil-city-to-ease-apapa-gridlock-by-60/|access-date=23 November 2020|work=The Guardian|title=Petrolex mega oil city to ease Apapa gridlock by 60%|date=8 December 2017}}</ref>

{{Quote box|quote=The Mega Oil City project will not only benefit the industry. In conjunction with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, the City will impact over 2 million lives. Petrolex has long expressed its commitment to the development and growth of indigenous solutions in the Nigerian oil and gas sector. The opportunities created by Mega Oil City are paving the way for Nigerians to seize opportunities in the energy sector.|source=—Forbes Africa, edition April, 2020, page 16.<ref name=forbes>{{cite magazine|title=Nigeria: Africa's Next Level|magazine=Forbes Africa|url=https://web.archive.org/web/20200414073548/https://www.forbesafrica.com/wp-content/uploads/2020/04/FORBES-2020-NIGERIA_OIL_AND_GAS_32PAGS_online-version-with-Zenith-Bluecamel-Catamaran.pdf}}</ref>|align=right|width=33%}}

{{Quote box|quote=The Mega Oil City project will not only benefit the

industry. In conjunction with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, the City will impact over 2 million lives. Petrolex has long expressed its commitment to the development and growth of indigenous solutions in the Nigerian oil and gas sector. The opportunities created by Mega Oil City are paving the way for Nigerians to seize opportunities in the energy sector.

|source=—Forbes Africa, edition April, 2020, page 16.<ref name="forbes">{{Cite news|title=Nigeria: Africa's Next Level|work=Forbes Africa magazine|url=https://web.archive.org/web/20200414073548/https://www.forbesafrica.com/wp-content/uploads/2020/04/FORBES-2020-NIGERIA_OIL_AND_GAS_32PAGS_online-version-with-Zenith-Bluecamel-Catamaran.pdf}}</ref>|align=right|width=33%}}

The industrial complex started the second phase of the project, which is intended to be an investment of US$5&nbsp;billion into the economy of Ogun State, and will house a 250,000-bpd refinery, a 100 MW power plant, a petrochemical plant, a lubricant plant and a gas processing plant.<ref name="vanguardngr.com">{{Cite web|date=23 May 2018|title=Adebutu's Petrolex; slowly but steadily helping to reshape the oil and gas sector|url=https://www.vanguardngr.com/2018/05/adebutus-petrolex-slowly-steadily-helping-reshape-oil-gas-sector/|access-date=23 November 2020|website=Vanguard News|language=en-US}}</ref> Adebutu says, "In conformity with our daring ambitions, we have an expansion plan which will increase the storage capacity of the tank farm to 1.2 billion litres in a few years."<ref name="forbes" />

The industrial complex started the second phase of the project, which is intended to be an investment of US$5&nbsp;billion into the economy of Ogun State, and will house a 250,000-bpd refinery, a 100 MW power plant, a petrochemical plant, a lubricant plant and a gas processing plant.<ref name="vanguardngr.com">{{cite news|date=23 May 2018|title=Adebutu's Petrolex; slowly but steadily helping to reshape the oil and gas sector|url=https://www.vanguardngr.com/2018/05/adebutus-petrolex-slowly-steadily-helping-reshape-oil-gas-sector/|access-date=23 November 2020|work=Vanguard}}</ref> Adebutu says, "In conformity with our daring ambitions, we have an expansion plan which will increase the storage capacity of the tank farm to 1.2 billion litres in a few years."<ref name=forbes/>

Nigeria is Africa's biggest oil-producing nation, but does not have adequate refining capacity and imports at least 70 percent of its needs. A government pledge to end such purchases in the next two years by building local capacity has lured investors including Africa's richest man, [[Aliko Dangote]], who is constructing a 650,000-barrel-a-day refinery. Adebutu has joined Dangote as the only two Nigerians currently building refineries.<ref name="vanguardngr.com"/>

Nigeria is Africa's biggest oil-producing nation, but does not have adequate refining capacity and imports at least 70 percent of its needs. A government pledge to end such purchases in the next two years by building local capacity has lured investors including Africa's richest man, [[Aliko Dangote]], who is constructing a 650,000-barrel-a-day refinery. Adebutu has joined Dangote as the only two Nigerians currently building refineries.<ref name="vanguardngr.com"/>

=== Subsidiaries and other activities ===

===Subsidiaries and other activities===

Segun Adebutu is also Chairman of several subsidiaries to Petrolex, among them, Bluebridge Marine Services and Bluebridge Minerals. There is a focus on minerals and bitumen based on current Nigerian laws.

Segun Adebutu is also Chairman of several subsidiaries to Petrolex, among them, Bluebridge Marine Services and Bluebridge Minerals. There is a focus on minerals and bitumen based on current Nigerian laws.

== Philanthropy ==

==Philanthropy==

[[File:Segun Adebutu, Ooni of Ife and Adebutu Kessington.jpg|thumb|right|[[Ooni of Ife]], Kesington Adebutu and Segun Adebutu at the launch of OOA Foundation in [[Abeokuta]], Ogun State]]

[[File:Segun Adebutu, Ooni of Ife and Adebutu Kessington.jpg|thumb|right|[[Ooni of Ife]], Kesington Adebutu and Segun Adebutu at the launch of OOA Foundation in [[Abeokuta]], Ogun State]]

In 2014, Adebutu founded Oladiran Olusegun Adebutu (OOA) Foundation, a non-profit and non-political organisation, established and registered with CAC in the year 2014 and based in South West, Nigeria. Since 2014, OOA Foundation has been involved in philanthropic initiatives ranging from educational support, health support, nutritional support, psychosocial support, recreational support, shelter and provision of clean water.<ref>{{Cite web|last=admin|date=27 May 2015|title=Who We Are|url=https://ooafoundation.org/who-we-are/|access-date=23 November 2020|website=Oladiran Olusegun Adebutu Foundation|language=en-US}}</ref> It was formally launched on Saturday, 22 October 2016 at [[Abeokuta]], Ogun State, South West Nigeria.<ref>{{cite web |last1=Adejoke |first1=Adeloye |title=Project of Baba Ijebu's son: VP Commissions Africa Largest Tank Farm in Ibefun |url=https://www.thenewsnigeria.com.ng/2017/12/project-of-baba-ijebus-son-vp-commissions-africa-largest-tank-farm-in-ibefun/ |website=The News Nigeria |date=13 December 2017 |access-date=29 January 2019}}</ref>

In 2014, Adebutu founded Oladiran Olusegun Adebutu (OOA) Foundation, a non-profit and non-political organisation, established and registered with CAC in the year 2014 and based in South West, Nigeria. Since 2014, OOA Foundation has been involved in philanthropic initiatives ranging from educational support, health support, nutritional support, psychosocial support, recreational support, shelter and provision of clean water.<ref>{{cite web|last=admin|date=27 May 2015|title=Who We Are|url=https://ooafoundation.org/who-we-are/|access-date=23 November 2020|publisher=Oladiran Olusegun Adebutu Foundation}}</ref> It was formally launched on Saturday, 22 October 2016 at [[Abeokuta]], Ogun State, South West Nigeria.<ref>{{cite news|last=Adejoke|first=Adeloye|title=Project of Baba Ijebu's son: VP Commissions Africa Largest Tank Farm in Ibefun|url=https://www.thenewsnigeria.com.ng/2017/12/project-of-baba-ijebus-son-vp-commissions-africa-largest-tank-farm-in-ibefun/|work=The News Nigeria|date=13 December 2017|access-date=29 January 2019}}</ref>

Patrons of the Foundation many of whom graced the occasion and pledged their support for the Foundation include:<ref>{{Cite web|date=26 October 2016|title=CEO of Petrolex Oil & Gas launches foundation for orphans|url=https://www.pulse.ng/lifestyle/events/olusegun-adebutu-ceo-of-petrolex-oil-and-gas-launches-foundation-for-orphans/z0q9q5x|access-date=23 November 2020|website=Pulse Nigeria|language=en-US}}</ref>

Patrons of the Foundation many of whom graced the occasion and pledged their support for the Foundation include:<ref>{{cite news|date=26 October 2016|title=CEO of Petrolex Oil & Gas launches foundation for orphans|url=https://www.pulse.ng/lifestyle/events/olusegun-adebutu-ceo-of-petrolex-oil-and-gas-launches-foundation-for-orphans/z0q9q5x|access-date=23 November 2020|work=Pulse}} {{Dead link|date=August 2024|bot=InternetArchiveBot|fix-attempted=yes}}</ref>

* Chief [[Olusegun Obasanjo]] (Former President of Nigeria);

*Chief [[Olusegun Obasanjo]] (Former President of Nigeria);

* Dr. Sen. [[Grace Folashade Bent]];

*Dr. Sen. [[Grace Folashade Bent]];

* former [[Chief Justice of Nigeria]], Hon Justice Salihu Modibo Alfa Balgore; F

*Former [[Chief Justice of Nigeria]], Hon Justice Salihu Modibo Alfa Balgore;

* former Minister of Youth and Culture, Alabo Tonye Graham Douglas;

*Former Minister of Youth and Culture, Alabo Tonye Graham Douglas;

The organization works primarily on the economic empowerment, health, community investments, women and children in crisis in Nigeria.<ref>{{Cite web|url=https://guardian.ng/news/ooa-foundation-bags-international-recognition/|title=OOA Foundation bags international recognition|last=Akinfenwa|first=Gbenga|date=19 November 2017|website=guardian.ng|access-date=4 February 2020}}</ref> Through the philanthropic work of the Foundation, Adebutu and his team have adopted over 400 vulnerable children. It was also responsible for incubating over 500 youth-led micro-enterprises and setting up pioneering youth entrepreneurship programmes in Lagos and Osun States<ref name="guardian.ng"/>

The organization works primarily on the economic empowerment, health, community investments, women and children in crisis in Nigeria.<ref>{{cite news|access-date=4 February 2020|url=https://guardian.ng/news/ooa-foundation-bags-international-recognition/|last=Akinfenwa|first=Gbenga|date=19 November 2017|work=[[The Guardian (Nigeria)|The Guardian]]|title=OOA Foundation bags international recognition}}</ref> Through the philanthropic work of the Foundation, Adebutu and his team have adopted over 400 vulnerable children. It was also responsible for incubating over 500 youth-led micro-enterprises and setting up pioneering youth entrepreneurship programmes in Lagos and Osun States<ref name="guardian.ng"/>

== Baseline records ==

==Baseline records==

Adebutu founded a record company called Baseline Records, signing Nigerian musicians [[Skales]] and Saeon. In 2020, his radio station, Baseline FM, started test-running in Lagos.<ref>{{Cite news|date=9 February 2020|title=Segun Adebutu Breaks New Grounds|work=The Punch Newspaper|url=https://punchng.com/segun-adebutu-breaks-new-grounds/}}</ref>

Adebutu founded a record company called Baseline Records, signing Nigerian musicians [[Skales]] and Saeon. In 2020, his radio station, Baseline FM, started test-running in Lagos.<ref>{{cite news|date=9 February 2020|title=Segun Adebutu Breaks New Grounds|work=The Punch|url=https://punchng.com/segun-adebutu-breaks-new-grounds/|access-date=31 August 2024}}</ref>

==Controversy==

==Controversy==

Nigeria's ''[[Premium Times]]'' reported that a petition by Western Lotto's owner, [[Buruji Kashamu]], triggered an investigation against rival company Premier Lotto, owned by Segun's father, Kesington Adebutu,<ref name=":2">{{Cite web|date=28 January 2020|title=EXCLUSIVE: EFCC goes after 'Baba Ijebu' over alleged multi-billion naira..|url=https://www.premiumtimesng.com/news/headlines/374794-exclusive-efcc-goes-after-baba-ijebu-over-alleged-multi-billion-naira-tax-fraud.html|access-date=23 November 2020|language=en-GB}}</ref> Buruji Kashamu is a former politician, [[Nigerians|Nigerian]] [[Senate|senator]], and U.S. fugitive. It is claimed that Kashamu is the real identity of "Alhaji", the drug kingpin in [[Piper Kerman]]'s book, ''[[Orange Is the New Black: My Year in a Women's Prison]]'', which was adapted in the [[Netflix]] hit series ''[[Orange is the New Black]].''<ref name=":1" /><ref>{{Cite news|url=https://www.chicagotribune.com/news/ct-orange-is-the-new-black-nigerian-senator-0215-chicago-inc-20170214-story.html|title=Nigerian who inspired 'Orange Is The New Black': 'I haven't seen' show|last=Janssen|first=Kim|work=Chicago Tribune|access-date=16 November 2018}}</ref><ref>{{Cite news|url=https://www.washingtonpost.com/news/worldviews/wp/2015/05/26/meet-the-nigerian-senator-who-may-have-been-an-inspiration-for-orange-is-the-new-black/|title=Meet the Nigerian senator who may have been an inspiration for 'Orange is the New Black'|newspaper=The Washington Post|access-date=16 November 2018}}</ref>

Nigeria's ''[[Premium Times]]'' reported that a petition by Western Lotto's owner, [[Buruji Kashamu]], triggered an investigation against rival company Premier Lotto, owned by Segun's father, Kesington Adebutu,<ref name=":2">{{cite news|date=28 January 2020|title=EXCLUSIVE: EFCC goes after 'Baba Ijebu' over alleged multi-billion naira..|url=https://www.premiumtimesng.com/news/headlines/374794-exclusive-efcc-goes-after-baba-ijebu-over-alleged-multi-billion-naira-tax-fraud.html|access-date=23 November 2020}}</ref> Buruji Kashamu is a former politician, Nigerian [[Senate|senator]], and U.S. fugitive. It is claimed that Kashamu is the real identity of "Alhaji", the drug kingpin in [[Piper Kerman]]'s book, ''[[Orange Is the New Black: My Year in a Women's Prison]]'', which was adapted in the [[Netflix]] hit series ''[[Orange is the New Black]].''<ref name=":1"/><ref>{{cite news|url=https://www.chicagotribune.com/news/ct-orange-is-the-new-black-nigerian-senator-0215-chicago-inc-20170214-story.html|title=Nigerian who inspired 'Orange Is The New Black': 'I haven't seen' show|last=Janssen|first=Kim|work=[[Chicago Tribune]]|access-date=16 November 2018}}</ref><ref>{{cite news|url=https://www.washingtonpost.com/news/worldviews/wp/2015/05/26/meet-the-nigerian-senator-who-may-have-been-an-inspiration-for-orange-is-the-new-black/|title=Meet the Nigerian senator who may have been an inspiration for 'Orange is the New Black'|newspaper=[[The Washington Post]]|access-date=16 November 2018}}</ref>

Multiple officials at the lottery commission accused Mr. Kashamu of [[Lawfare|triggering the investigation because he wanted to dominate a section of the betting business in Nigeria]].<ref name=":2" /> Following the petition [[Economic and Financial Crimes Commission]] (EFCC) started investigating Segun's father's Premier Lotto for tax fraud. Segun Adebutu attended the questioning on his father's company behalf on 28 January 2020. Tony Orilade, chief spokesperson for the EFCC, did not immediately return a request seeking comments on the details of the investigation.<ref name=":1">{{cite web|author=Samuel Ogundipe|date=28 January 2020|title=EXCLUSIVE: EFCC goes after 'Baba Ijebu' over alleged multi-billion naira tax fraud|url=https://www.premiumtimesng.com/news/headlines/374794-exclusive-efcc-goes-after-baba-ijebu-over-alleged-multi-billion-naira-tax-fraud.html|newspaper=Premium Times}}</ref><ref>{{cite web|date=2 February 2020|title=All eyes on Kessington Adebutu as EFCC takes him on|url=https://www.newtelegraphng.com/all-eyes-on-kessington-adebutu-as-efcc-takes-him-on/|newspaper=New Telegraph}}</ref><ref>{{cite web|date=28 January 2020|title=Report: EFCC investigating 'Baba Ijebu' for alleged tax fraud|url=https://www.thecable.ng/report-efcc-investigating-baba-ijebu-alleged-tax-fraud|newspaper=TheCable}}</ref><ref>{{cite web|author=Seun Adeyeye|date=28 January 2020|title=EFCC goes after 'Baba Ijebu' over alleged tax fraud|url=https://www.pulse.ng/news/local/efcc-goes-after-baba-ijebu-over-alleged-tax-fraud/6mcp753|newspaper=Pulse NG}}</ref><ref>{{Cite web|last=admin|date=30 January 2020|title=Segun Adebutu not detained by EFCC – Family|url=https://www.chronicle.ng/2020/01/segun-adebutu-not-detained-by-efcc-family/|access-date=23 November 2020|website=Chronicle.ng|language=en-US}}</ref><ref>{{Cite web|last=Busari|first=Niyi|date=30 January 2020|title=Baba Ijebu Not Under Arrest By EFCC – Latest Sports in Nigeria|url=https://bsnsports.com.ng/baba-ijebu-not-under-arrest-by-efcc-latest-sports-in-nigeria/|access-date=23 November 2020|website=BSN Sports|language=en-GB}}</ref><ref>{{Cite web|last=Ogundipe|first=Samuel|date=18 February 2020|title=Nigeria: Why I Was Quizzed By EFCC – Segun Adebutu|url=https://allafrica.com/stories/202002180137.html|access-date=23 November 2020|website=allAfrica.com|language=en}}</ref><ref name=":0">{{Cite web|last=Ogundipe|first=Samuel|date=18 February 2020|title=Why I was quizzed by EFCC – Segun Adebutu|url=https://www.premiumtimesng.com/news/top-news/377868-why-i-was-quizzed-by-efcc-segun-adebutu.html|access-date=27 February 2020|language=en-GB}}</ref>

Multiple officials at the lottery commission accused Mr. Kashamu of [[Lawfare|triggering the investigation because he wanted to dominate a section of the betting business in Nigeria]].<ref name=":2"/> Following the petition [[Economic and Financial Crimes Commission]] (EFCC) started investigating Segun's father's Premier Lotto for tax fraud. Segun Adebutu attended the questioning on his father's company behalf on 28 January 2020. Tony Orilade, chief spokesperson for the EFCC, did not immediately return a request seeking comments on the details of the investigation.<ref name=":1">{{cite news|last=Ogundipe|first=Samuel|date=28 January 2020|title=Excvlusive: EFCC goes after 'Baba Ijebu' over alleged multi-billion naira tax fraud|url=https://www.premiumtimesng.com/news/headlines/374794-exclusive-efcc-goes-after-baba-ijebu-over-alleged-multi-billion-naira-tax-fraud.html|newspaper=Premium Times}}</ref><ref>{{cite news|date=2 February 2020|title=All eyes on Kessington Adebutu as EFCC takes him on|url=https://www.newtelegraphng.com/all-eyes-on-kessington-adebutu-as-efcc-takes-him-on/|newspaper=New Telegraph|access-date=2 February 2020|archive-url=https://web.archive.org/web/20200202235704/https://www.newtelegraphng.com/all-eyes-on-kessington-adebutu-as-efcc-takes-him-on/|archive-date=2 February 2020|url-status=dead}}</ref><ref>{{cite web|date=28 January 2020|title=Report: EFCC investigating 'Baba Ijebu' for alleged tax fraud|url=https://www.thecable.ng/report-efcc-investigating-baba-ijebu-alleged-tax-fraud|website=[[TheCable]]}}</ref><ref>{{cite web|last=Adeyeye|first=Seun|date=28 January 2020|title=EFCC goes after 'Baba Ijebu' over alleged tax fraud|url=https://www.pulse.ng/news/local/efcc-goes-after-baba-ijebu-over-alleged-tax-fraud/6mcp753|newspaper=Pulse}}</ref><ref>{{cite news|date=30 January 2020|title=Segun Adebutu not detained by EFCC – Family|url=https://www.chronicle.ng/2020/01/segun-adebutu-not-detained-by-efcc-family/|access-date=23 November 2020|website=Chronicle.ng}}</ref><ref>{{cite web|last=Busari|first=Niyi|date=30 January 2020|title=Baba Ijebu Not Under Arrest By EFCC – Latest Sports in Nigeria|url=https://bsnsports.com.ng/baba-ijebu-not-under-arrest-by-efcc-latest-sports-in-nigeria/|access-date=23 November 2020|website=BSN Sports}}</ref><ref>{{cite news|last=Ogundipe|first=Samuel|date=18 February 2020|url=https://allafrica.com/stories/202002180137.html|access-date=23 November 2020|work=Premium Times|via=[[allAfrica]]|title=Nigeria: Why I Was Quizzed By EFCC – Segun Adebutu}}</ref><ref name=":0">{{cite news|last=Ogundipe|first=Samuel|date=18 February 2020|title=Why I was quizzed by EFCC – Segun Adebutu|url=https://www.premiumtimesng.com/news/top-news/377868-why-i-was-quizzed-by-efcc-segun-adebutu.html|access-date=27 February 2020}}</ref>

The investigation was summarily dismissed after further clarifications from the company, and the EFCC found no malpractices in the affairs of Premier Lotto and Segun Adebutu.<ref>{{Cite news|title=EFCC attempts to balance action with fairness as it sanitizes Nigeria's corporate sector|work=Vanguard Nigeria|url=https://www.vanguardngr.com/2020/03/efcc-attempts-to-balance-action-with-fairness-as-it-sanitizes-nigerias-corporate-sector/}}</ref><ref>{{Cite web|url=https://tribuneonlineng.com/thumbs-up-to-efccs-concern-over-telecom-lottery-industries/|access-date=23 November 2020|website=tribuneonlineng.com|title=Thumbs up to EFCC's concern over telecom, lottery industries|date=31 March 2020}}</ref><ref>{{Cite web|date=30 March 2020|title=EFCC praised as it sanitizes Nigeria's Corporate sector -|url=https://www.thenewsnigeria.com.ng/2020/03/30/efcc-praised-as-it-sanitizes-nigerias-corporate-sector/|access-date=23 November 2020|website=The NEWS}}</ref> The factual basis of Mr Kashamu's allegations remained unclear at this time as the EFCC is yet to make its findings public.<ref>{{Cite web|date=18 February 2020|title=Why I was quizzed by EFCC – Segun Adebutu|url=https://www.premiumtimesng.com/news/top-news/377868-why-i-was-quizzed-by-efcc-segun-adebutu.html|access-date=23 November 2020|language=en-GB}}</ref>

The investigation was summarily dismissed after further clarifications from the company, and the EFCC found no malpractices in the affairs of Premier Lotto and Segun Adebutu.<ref>{{cite news|work=Vanguard|url=https://www.vanguardngr.com/2020/03/efcc-attempts-to-balance-action-with-fairness-as-it-sanitizes-nigerias-corporate-sector/|last=Samson|first=Adedayo|title=EFCC attempts to balance action with fairness as it sanitizes Nigeria's corporate sector|date=29 March 2020|access-date=31 August 2024}}</ref><ref>{{cite news|url=https://tribuneonlineng.com/thumbs-up-to-efccs-concern-over-telecom-lottery-industries/|access-date=31 August 2024|work=[[Nigerian Tribune]]|last=Omorogbe|first=Paul|title=Thumbs up to EFCC's concern over telecom, lottery industries|date=31 March 2020}}</ref><ref>{{cite news|date=30 March 2020|title=EFCC praised as it sanitizes Nigeria's Corporate sector|url=https://www.thenewsnigeria.com.ng/2020/03/30/efcc-praised-as-it-sanitizes-nigerias-corporate-sector/|access-date=23 November 2020|website=The NEWS}}</ref> The factual basis of Mr Kashamu's allegations remained unclear at this time as the EFCC is yet to make its findings public.<ref>{{cite news|url=https://www.premiumtimesng.com/news/top-news/377868-why-i-was-quizzed-by-efcc-segun-adebutu.html|access-date=31 August 2024|last=Ogundipe|first=Samuel|date=18 February 2020|title=Why I was quizzed by EFCC – Segun Adebutu}}</ref>

==References==

==References==

{{reflist}}

{{Reflist}}

{{DEFAULTSORT:Adebutu, Segun}}

{{DEFAULTSORT:Adebutu, Segun}}

[[Category:1974 births]]

[[Category:Living people]]

[[Category:Living people]]

[[Category:21st-century Nigerian businesspeople]]

[[Category:21st-century Nigerian businesspeople]]

[[Category:Nigerian businesspeople in the oil industry]]

[[Category:Nigerian businesspeople in the oil industry]]

[[Category:Nigerian chairpersons of corporations]]

[[Category:Nigerian chairpersons of corporations]]

[[Category:1974 births]]

[[Category:Nigerian financiers]]

[[Category:Nigerian financiers]]