Founded in 1977, Jagal has risen to become one of Nigeria’s leading conglomerate holding companies, operating not only in world-class energy, but also in a number of diverse investment portfolios.
CEO and Executive Director of Jagal, Maher Jarmakani is a director in all its diverse operating subsidiaries including Afrik Delta Marine, Nigerdock, NigerStar 7 and Sinopec Nigeria. He is also chairman and a board director of Hello Products, Rack Centre and the Jagal Foundation. Penresa had the immense privilege to catch up with him recently and uncover his phenomenal role in driving investment and business in Nigeria.
Could you give us an overview of the core operations that have allowed for Jagal’s presence in several markets?
Jagal is known for a number of its leading oil and gas companies including Nigerdock, Nigerstar 7 and Afrik Delta Marine, but we are much more than an oil and gas group. We are a diversified industrial conglomerate. We have a leading FMCG business called Hello Products we established over 40 years ago and a tech company called Rack Centre we established eight years ago as the first tier III certified data centre in Nigeria.
What is your vision for Jagal for the next five to ten years?
Our vision is to continue to build on our current success as well as diversify our investments into new growing sectors of the Nigerian economy. We see numerous new opportunities in the next ten years. Nigeria has a vision to diversify and the current government is implementing a new Nigerian content strategy. This new push for diversification is something Jagal already has in its DNA. You can see that in our investments. We look for areas of long term growth, invest in a unique propositions and develop leaders in all the industries we enter.
Who are your strategic partners and what are the biggest competitive advantages that have allowed you to continue to grow and add significant value towards the development of several sectors of the economy?
Our current partners in our oil and gas division include Subsea 7, Smit Lamnalco and Sinopec. In our non oil and gas operations we recently partnered with Actis, a leading emerging markets private equity company. I would also add that our banks in Nigeria are very important partners and play a key role in our success. We have been known to be able to establish companies and bring them to life in a short period of time which allows us to go into markets very quickly. We are also able to attract world-class partners and compete at the highest levels, especially in our oil and gas operations. I would say that our key strength has always been to plan and seize opportunities ahead of others.
How is Jagal helping to support its host communities?
The Jagal Foundation promotes economic opportunities through programmes in education, training, healthcare and counselling. We care a lot for our communities. We believe in lifelong sustainability and put a lot of focus on training graduates and young Nigerians to prepare them for employment.
Could you tell us what Nigeria’s 60th anniversary means to you?
Nigeria is a great nation. I have called it my home for all of my life. My aspiration for Nigeria is for it to continue to be the beacon of investment in Africa. Nigeria is much more than just business: it is a beautiful country of traditions.
For the readers of Forbes Africa and discerning investors, could you tell us why NOW is the time to invest in Nigeria and why should Jagal be the partner of choice?
Nigeria is a country that offers very diverse opportunities. At 60 years, it is still a young nation, both in age and growth. Jagal is a great partner because of our high levels of governance, transparency and belief in mutually successful partnerships.