Heirs Holdings / Heirs Oil & Gas

Heirs Holdings Limited is a pan-African proprietary investment company founded in 2010 by Tony Onyemaechi Elumelu CFR (born 22 March 1963 in Jos, Plateau State), a Nigerian banker, entrepreneur, and philanthropist who is also Chairman of United Bank for Africa (UBA) and Transcorp. Heirs Holdings invests across power (Transcorp Power, Heirs Energies), oil and gas, financial services, hospitality, and real estate in Africa. In January 2021, Heirs Oil and Gas Limited acquired a 45% equity in OML 17 from Shell, Total, and ENI for USD 1.1 billion - one of the largest oil and gas transactions ever led by an African company and a landmark indigenous Nigerian upstream deal. Tony Elumelu is the leading proponent of "Africapitalism" - the philosophy that the African private sector should drive African economic development - and his USD 100 million Tony Elumelu Foundation has committed to empowering 10,000 African entrepreneurs over 10 years.