:: Cover Story...

Thursday, November 27, 2014.

Shore Energy Boss, Kola Karim Buys Private Jet In The Face Of Growing Stringent Economic Measures!

While the government adopts hard stance policy to safeguard spiralling economy, in the face of plummeting oil price – Kola Karim, internationally listed big player in the sector whose performance created ripple effect that paved way for the devaluation of the naira just acquired an expensive toy.


Information filtering in revealed the Group Managing Director of Shore Energy International just purchased a private jet of his own.


This development comes on the heels of ownership of another private by the organisation he heads.

Kola Karim

According information available, the big money acquisition in the face of stringent economic policy is meant to ‘ease his movement’.


Others view it more as a status enhancement for the 45 yrs old who though frolics the nation’s social scene , quarters his family in the United Kingdom – where his three children schools.


Karim who once had a party staged in his honour by American designer with celebrity status that cuts across borders of continents - Ralph Lauren is listed by Forbes as one of the Most Powerful men Africa. This feat is as recent as the 2014 edition of international barometer of wealth and social standing.


Sources define the purchase of the a private jet by wealthy Nigerian as attempt to live up to the billing and further cement his standing, despite the economic implication in the face of national cost saving approach to spending.


Kola Karim’s Shoreline Energy International is described as a Nigerian conglomerate with interests that span oil & gas, power generation, engineering, commodities trading, infrastructure and construction.


The organisation caught a big break in 2012, when it partnered with U.K-based Heritage Oil in acquiring a stake in OML 30, an oilfield asset in Nigeria for a reported $850 million.


...additional report thecapital and forbes

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