‘I Have 4 Private Jets, The Gulfstream Is My Favourite’ Ernest Azudialu, Nestoil Boss Boss Credited With Over 20 Cars & N200b Debt Portfolio

…face of Governor Akpabio’s litany of hidden businesses

According to information available to societynowng.com high flyer and Nestoil boss, Ernest Azudialu disclosed in a recent interview ‘My very tight business schedule takes me around a lot and I spend more and more time in the air, and now have a fleet of four aircraft of which the Gulfstream is my favourite’

Further revelations have it that this privilege of the intensely is further complemented with exotic land travels machines.

Azudialu is reputed to posses over twenty arresting automobiles that he navigates around two with.

The wonder on wheels are said to be in the mould of dream names such as the Lamborghini Aventador, the BMW High Security 760, including varied form of the customized Rolls Royce.

But unlike the pictures and glamour and

luxury painted by these high end acquisitions, it isn’t all home free hitch free luxury.

The owner of the eye poppers is said to have a N200b debt in the guise of business loans from different financial institutions hanging on his debt.

The debts were reportedly procured to finance and keep the companies spewing the products that keep Azudialu and his loved ones in comfort.

His claim to fame, Nestoil is described as , a Nigerian company that provides leading Engineering, Procurement and Construction (EPC) services to the biggest players in Nigeria’s upstream space such as Shell, Exxon Mobil and the Nigerian National Petroleum Corporation, NNPC.

But this is not all that feathers the nest of the lover of all round comfort, – and the usage of a debt that rolled up into N200b overtime, insiders disclosed as the sole financier and chairman of Smile Nigeria, an Internet Service Provider.

And there is also the lucrative association with high spender and governor of Akwa Ibom State, Godswill Akpabio.

The Nestoil boss is listed as the man who takes away the edge of public scrutiny from the business moves of the state headman.

‘He is the conjurer of smokescreen behind which Akpabio puts together is private fortune’ a source disclosed.

A glimpse of the mutually beneficiary arrangement between them is revealed in Governor Akpabio’s in put a giant step taken by Azudialu with his nestoil not too long ago.

The state Chief Executive Officer is said to own substantial investment in NECONDE Consortium, of which Azidialu is chairman. The Nestoil-led consortium acquired a 45% stake in the OML 42 from Shell, Total and ENI, containing developed oil fields and gas reserves in the Niger Delta area of onshore Nigeria.

A more telling tell tale development is the mega transaction that created a bit of rumpus for the duo – ownership of Julius Berger Nigeria Plc’ Shares.

According to information that filtered into town Ernest Azudialu served as the acquirer of the controversial shares for Akapbio and his estranged friend Umana Okon.

They arrangement that saw purchase of 10% of 49.9% equity shares of Bilfinger Berger of Germany, an international affiliate of Julius Berger Nigeria Plc transformed the Akapbio biggest shareholder.

One of the perks of this status was conceding the honour of appointing company secretary which Mr Akapbio reportedly perfected with the choice of Cecilia Ekanem Madueke.

The duo are said to strenuously strive to keep their association as guarded as possible for fear of possible persecution and prosecution.

The Akwa Ibom governor continuously faces allegations of using government money to build private fortune, a situation that put their vast wealth on edge – especially Azudialu’s life of super luxury.

additional report thecapital