The Jarmakanis (Jagal Group) – Inside the Investment Portfolios of Top Ten Int’l Family Investors in Nigeria

Mr. Anwar Jarmakani, a Nigerian international investor is the head of the Jarmakani business dynasty in Nigeria and founder and executive chairman, Jagal Group – a conglomerate that operates leading energy businesses and manages a diverse portfolio of investments in Nigeria. He is a self-made industrial entrepreneur, who came to Nigeria in 1963 from Syria. He is part of the first generation of private sector pioneers in the post independent Nigeria. He holds a track record of relentless ambition, vision, leadership and integrity.

Jarmakani started the company in 1973 and began with construction and real estate development. By 1980s, he had expanded investments into the health, hygiene and home sectors through partnerships with multinationals brands. He has profound knowledge and deep local experience in Nigeria as a naturalized citizen of Nigeria.

By the late 1990s, Jagal had further extended operations to the energy sector working with key actors in the oil and gas industry. It established partnerships in the upstream sector with major operators such as Sinopec, Fred Olsen and SmitLamnalco among other multinationals.

In 2003, the group made a strategic investment designed to consolidate its position in the oil and gas sector by acquiring a majority interest in Nigerdock, a marine industrial base which was privatized by the federal government in 2001. Thereafter, the company initiated an aggressive investment and restructuring plan that has transformed Nigerdock into a leading oil services company. This move has expanded Jagal’s support activities in the oil and gas industry. Subsequently, the group has added a number of successful oil & gas service businesses to its portfolio, which have further strengthened its support capabilities within the energy sector.

The group took another major step in 2005 when it established a private free zone development aimed at improving investment opportunities and creating economic stimulus through industrial development, technology transfer, employment creation and skills development. In 2013, Jagal made a strategic move into the technology sector with the establishment of the first tier III certified data centre in West Africa.

The company has grown successfully for over 40 years and has become a valuable contributor to the development of the Nigerian economy. Presently, Jagal is a major conglomerate with over 10,000 personnel operating in the energy sector as well as diverse investments in technology, real estate, construction and health, hygiene and home.

Jagal’s enlarged business runs on core family values. It has an executive committee made up of the founder/group executive chairman, Anwar Jarmakani and two group chief executive officers – Manssour and Maher Jarmakani both of who are also Nigerian citizens. The group’s CEOs share strategic areas of executive leadership across all Jagal operations and investments. With shared vision and clearly defined corporate objectives, their teamwork and leadership preserve the group’s legacy across the board through the years.

 Our team of researchers has selected the Jarmakanis among the top ten family international private investors transforming Nigeria’s economy. This is in recognition of the group’s commitment to the development of Nigeria’s economy as demonstrated in their investments across critical sectors which have provided employment to thousands of Nigerians.