TY Danjuma acquires British Hotel for N1.2 billion

Deprecated: mb_convert_encoding(): Handling HTML entities via mbstring is deprecated; use htmlspecialchars, htmlentities, or mb_encode_numericentity/mb_decode_numericentity instead in /var/www/nairametrics/wp-content/themes/nairametrics/functions.php on line 104

South Atlantic Petroleum boss and former minister of defence, General Theophilus Yakubu Danjuma (rtd) recently acquired a 14 bedroom Kings Arms Hotel in London for N1 billion.

Kings Arms Hotel is a 300 years old inn formerly the home of King Henry VIII, next to London’s Hampton Court Palace. Once refurbished, the hotel will cost guests about N114,581.57 (£250) per night. The hotel has 6 restaurants, a reference to the monarch’s many wives.

Kings Arms Hotel London
Photo credit: HotelPlanner

Danjuma, a retired general of the Nigeria Army, is a billionaire, politician, philanthropist and was once a minister of defence under the Olusegun Obasanjo administration. He is the chairman of South Atlantic Petroleum Limited – licensee of Oil Prospecting License (OPL) 246 and Oil Mining Lease (OML) 130.

He served as the Chief of Army from July 1975 to October 1979 and was the Minister of Defence under the president Olusegun Obasanjo’s administration.

Danjuma is the board chairman of May and Baker Nigeria Plc – A pharmaceutical company – owns 43% stake (746,841,302 of its issued shares of 1,725,234,886) of the company through indirect holding (through TY Holdings Limited, Oil Tech Nigeria Limited, and Osis Yuvic Limited), according to its FY 2018 reports.

TY Danjuma inspecting the Guard of Honor, 1st battalion Coldstream Guards, at the British Ministry of Defense. Source: Central Press/Getty Images

Aside from this £2.4 million hotel, he owns assets that span at least three continents managed by his family, according to Bloomberg. Danjuma is currently worth $1.2 billion.

He is also the owner of the TY Danjuma Foundation. A foundation whose aims are to provide durable advantages through the implementation of development programs.