In this post, Platinum Times Nigeria chronicles the life story and net worth of Nigerian business mogul, Gabriel Ogbechie.
Gabriel Ogbechie is a Billionaire businessman and philanthropist from Delta State, Nigeria.
He is the founder of the Rainoil Group, one of Nigeria’s largest indigenous oil and gas company.
He has almost three decades of cognate experience in the Nigerian oil and gas industry.
Profile summary
Name: Gabriel Ogbechie
Born: 28th May, 1966
State of origin: Delta State, Nigeria
Education: University of Benin
Spouse: Godrey Ogbechie
Religion: Christianity
Career: Businessman
Birth
Gabriel Ogbechie is a native of Idumuje Ugboko in Aniocha North Local Government Area of Delta state and was born to an average home as the fifth of six children on 28th May, 1966.
Education
Having completed his education at Queen of the Niger Primary School in Onitsha and St. Patrick’s College in Asaba, he went on to the University of Benin to obtain a Bachelor of Science (B.Sc.) in Production Engineering.
Gabriel Ogbechie is a graduate of Harvard Business School and a pioneer member of the Lagos Business School Owner Manager Program in 2002.
Novena University, Ogume, Delta State, granted him an Honorary Doctorate (D.Sc.) in Technology Management in 2016.
Career
Gabriel began his early career as a factory engineer between 1989 and 1991 and subsequently joined PricewaterhouseCoopers, a leading firm of Chartered Accountants and Management Consultants.
He spent four years at Ascon Oil, heading the Sales and Operations Unit.
At a time of limited indigenous participation, he identified opportunities within the downstream oil and gas space.
In 1997, he founded Rainoil Limited, which he has guided from very modest beginnings to a company with operations across the downstream value chain.
Situated strategically throughout Nigeria, the downstream oil and gas company owns three cutting-edge depots for the storage of petroleum products.
These depots are located in the states of Oghara, Delta; Calabar, Cross River; and Ijegun Egba, Lagos. Each depot has a substantial capacity of 50 million liters.
Rainoil Limited oversees a network of more than 150 retail gas stations and LPG plants throughout Nigeria in addition to its storage facilities.
For effective distribution to its network of stations and clients, the company maintains a fleet of more than 250 tank trucks for petroleum products.
The annual Rainoil Tennis Open, in collaboration with the Nigerian Tennis Federation, was announced by Rainoil in December 2017.
Ogbechie disclosed that Rainoil’s goal in funding a domestic open competition was to create space for an international competition that would bring international players to Nigeria.
Ogbechie became the Chairman of the Eterna PLC board of directors in October 2021 when his Preline Limited purchased a majority share in the Nigerian Stock Exchange-quoted company Eterna PLC.
Personal life
Gabriel Ogbechie is a successful Businessman as well as a loving husband and father, he is married to Godrey Ogbechie, a stakeholder in the Rainoil Group and their union is blessed with three children.
Philanthropy
He has been actively involved in numerous charitable endeavors since founding the Gabriel Ogbechie Foundation, especially in Delta State, where he offers undergraduate scholarships, community healthcare services, and youth employment programs.
Ogbechie provided the Federal Medical Center in Asaba with ambulances and other medical supplies in 2019 during the COVID-19 pandemic in Nigeria to aid in the nation’s efforts to combat the virus.
In addition, he concentrates on providing material infrastructure and public amenities in Delta State local communities, as well as financial support to orphanages in Lagos and Abuja, through the Rainoil Community Empowerment Program.
Controversy
Billionaire Ned Nwoko, a fellow kinsman, accused Ogbechie of plotting against him in a public statement issued in December 2020.
Ogbechie has subsequently refuted the accusations. Following its investigations, the Nigerian Police Force on November 30, 2022, submitted a report to the Federal High Court in Abuja absolving Ogbechie of any involvement in the purported assassination plot.
Ogbechie has sued Ned Nwoko for a billion naira, claiming that Nwoko defamed his reputation.
Achievements
At the annual Oil Trading and Logistics Conference in Lagos, Nigeria, in 2018, Ogbechie was named the Downstream Man of the Year.
Former President Muhammadu Buhari bestowed the honor of Officer of the Order of the Niger (OON) upon Ogbechie on October 11, 2022.
Net worth
With a substantial net wealth of over $2 Billion, Gabriel Ogbechie has a established himself as a successful oil and gas merchant in Nigeria and beyond.