Segun Adebutu

Segun Adebutu (born 4 May 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. 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.

Adebutu is founder and financier of the Oladiran Olusegun Adebutu Foundation (OOA), an NGO focused on economic empowerment, health, community investments, philanthropy, vocational enterprise for vulnerable women and children in crisis.

Background Segun Adebutu was born to the family of Kesington Adebukunola Adebutu, founder and chairman of Premier Lotto Nigeria Limited, who hails from Iperu Remo, Ikenne Local Government, and Caroline Oladunni, from Odogbolu, both in Ogun State, South West Nigeria. Adebutu graduated in Economics from the University of Ibadan and started trading in oil and gas in 2004.

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. Which was a success in the next ten years.

The industrial complex started the second phase of the project, which is intended to be an investment of US$5 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. 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." It was formally launched on Saturday, 22 October 2016 at Abeokuta, Ogun State, South West Nigeria.

Patrons of the Foundation many of whom graced the occasion and pledged their support for the Foundation include:

Chief Olusegun Obasanjo (Former President of Nigeria); Dr. Sen. Grace Folashade Bent; Former Chief Justice of Nigeria, Hon Justice Salihu Modibo Alfa Balgore; 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. 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

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, Kashamu was a politician, Nigerian senator, and U.S. fugitive. It is claimed that Kashamu was 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.

Multiple officials at the lottery commission accused Kashamu of triggering the investigation because he wanted to dominate a section of the betting business in Nigeria.

The investigation was summarily dismissed after further clarifications from the company, and the EFCC found no malpractices in the affairs of Premier Lotto and Adebutu. The factual basis of Kashamu's allegations remain unclear as the EFCC has not made its findings public.