Prince Arthur Eze is a Nigerian business man and oil tycoon with at least 36 oil acreages. Arthur Eze hails from Anambra state, Nigeria and is the founder and Chairman of Atlas Oranto Petroleum, established in 1991. It is the largest holder of oil exploration blocks in Africa and has assets in Nigeria, Liberia, Guinea, Gambia and the UK. He is recognized as one of the wealthiest men in Africa and is considered the eighth richest person in Africa with a net worth of more than $5.8 billion. In 2010, Arthur Eze made $200M selling oil blocks in Liberia, his immense wealth and influence in the oil industry are the result of sharp and savvy business practices.
Oranto Petroleum announced in 2017, that it was on the brink of signing a petroleum exploration licence and oil production sharing agreements with the Ugandan government. Oranto was one of the first companies to bid in Uganda’s first competitive oil exploration licenses, launched in 2015. Prince Eze’s business model alters the established model whereby big multinational oil players get the big blocks and the rest spills to the local players. At Oranto, Prince Eze’s plan is reportedly to acquire oil acreage with massive value before splitting them up into portions and selling them to the IOCs when the values increase.
Arthur Eze has also become known for his deep connections to Nigerian politics, and is a major donor to Nigeria’s People’s Democratic Party (PDP). He often chairs fundraising for political aspirants who he supports, and gave away close to $100 million to political aspirants in the last election cycle. He is also a big philanthropist, who has shown his generosity towards various causes across Nigeria. Arthur Eze made the headlines in 2013 when he donated $12 million USD at a fundraising event to help fund the construction of an Anglican Church Youth Development Center in Otuoke, Bayelsa State, which is known to be the hometown of Nigeria’s Former President, Goodluck Jonathan, whose administration Arthur Eze supported. He has also made a $6.3-million USD donation to flood relief efforts in Nigeria and regularly makes large donation towards educational causes. Prince Arthur Eze is married with children and has an estimated networth of over 5 Billion Dollars.
It is safe to say that the business mogul and oil tycoon has built a solid reputation in business and entrepreneurship not just in Nigeria but in major parts of Africa, and is possibly someone for young African entrepreneurs to look up to.
In 2019, the Billionaire was embroiled in a land tussle between his hometown of Ukpo and the neighbouring, Abba Town. The battle which stirred the likes of Chimamanda Adichie and Dr. Nwankwo Obidigbo. In his online article entitled ‘Abba Town: Prince Arthur Eze Nigerian Police Limited’, Dr Obidigbo accused the oil magnate of converting the local police force into his private army and unleashing them on the people of Abba Town. This claim was backed by Adichie’s Feature article in The Guardian titled “My Hometown Under Seige”. In the article she described the Arthur-Eze sponsored attacks on the Abba market and how he hired thugs to steal records that dampened the Ukpo-Abba legal battle. Adichie narrated how the billionaire sought to intimidate the people of Abba to give up their land so he could have a university named after him. Both articles generated a lot of controversy and backlash by Arthur Eze supporters.
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