Spotlight Monday on Mr. Aderemi Makanjuola: The Nigerian Millionaire who Left Banking For the Oil and Gas Sector

This week’s spotlight is on Mr. Aderemi Makanjuola, a Nigerian millionaire who transitioned from a successful career in banking to the Oil and Gas sector. 

He earned a Bachelor’s degree from the University of Leicester and a Master’s degree from the University of Manchester, both located in the UK. Before founding Caverton, he was the Executive Vice-Chairman at Devcom Merchant Bank. In 2014, he was appointed Chairman of International Commercial Bank Senegal, S.A., part of the ICB Banking Group with a presence across Asia, Europe, and Africa. 

Since it started, Caverton Marine has become one of the top local oil field service companies in Nigeria. It has taken advantage of local content policies, which encourage Nigerian companies to participate more in the oil and gas industry.

One such policy, the Coastal and Inland Shipping [Cabotage] law passed in 2003, limits certain marine operations and the transport of petroleum products to Nigerian-owned vessels, helping Caverton Marine grow in the industry.

The company aims to capture opportunities in the global market by using a strong asset base, the right infrastructure, and technology to increase efficiency.

Caverton Marine has grown its service abilities by learning from international offshore experiences through its partners, focusing on using local resources and aiming to lead in marine logistics in Nigeria and sub-Saharan Africa.