A decade after envisioning an indigenous company that would rival global giants while uplifting African communities, Deji Somoye has successfully navigated SG Holdings to the vanguard of Africa’s energy sector.
Deji Somoye’s journey from banker to energy sector leader illustrates how strategic vision combined with unwavering execution can reshape entire industries. His foresight in building SG Holdings has metamorphosed into thousands of jobs, economic prosperity, and earned the company a reputation as a trusted partner in Nigeria’s energy and shipping sectors. With an impressive balance sheet and a fleet of ocean-going tankers valued at over USD 350 million, Somoye’s leadership has transformed SG Holdings into a symbol of African resilience and ambition.
Somoye, armed with an M.Sc. in Finance from the University of Liverpool and an MBA from Wharton, brought a wealth of experience from his 22-year banking career, including pivotal roles at UBA and Citibank. His strategic acumen has propelled SG Holdings to operate across four divisions: oil and gas transportation, energy downstream, infrastructure, and real estate. The company’s shipping arm, with vessels like MT IJEMO and MT ADEBOMI, has secured leases with global leaders like Shell and BP, employing maritime professionals and boosting Nigeria’s presence in international trade. This success has made SG Holdings one of Sub-Saharan Africa’s largest indigenous operators of crude oil vessels.
In the energy downstream sector, SG Holdings’ Petrosafe brand has revolutionized retail fuel distribution, creating jobs for station attendants, logistics teams, and management staff. Its partnerships with refineries and off-takers like Total Nigeria Plc have strengthened Nigeria’s energy supply chain, while exports to Mali and Burkina Faso have expanded economic ties across West Africa. Somoye’s focus on infrastructure, including a 42-million- litre tank farm and a coastal jetty, has furthered job creation in construction and operations, with the upcoming Jetsafe aviation depot set to employ even more.
Somoye’s commitment to excellence is reflected in SG Holdings’ stellar financial ratings – AA from GCR and A from Agusto C Co. and its robust corporate governance. His adoption of the Titan 1.0 accounting system and an Enterprise Risk Management framework has fortified the company’s operations, earning trust from stakeholders. The SG Holdings Foundation, under his guidance, has invested over N400 million in education, health, and infrastructure, from donating wheelchairs to Ogun State hospitals to building e-libraries, enhancing the company’s reputation as a community champion.
As SG Holdings eyes global expansion with operations approved in London, Dubai, and Mauritius, Somoye’s vision remains clear: to build a legacy of innovation and impact. By fostering job creation, economic growth, and ethical leadership, he has positioned SG Holdings as a vanguard of African enterprise, inspiring a new generation of indigenous businesses to dream big and deliver bigger.