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If you chose to call Olabode Makanjuola a chip off the old block, you will be perfectly right. For the first son of leading business tycoon and Chairman of Caverton Group, Chief Aderemi Makanjuola, unlike other heirs of some of the world’s wealthiest who are poised to inherit massive fortunes, the dude is just not sitting idle rather has rolled up his sleeves to assist his dad to run the family business —with the total assets valued at over N67.5billion, according to the report from the Group’s 12th AGM in May last year— successfully as the Vice Chairman/CEO and make it a going concern.
Global and local companies operating in the oil and gas sector were hit by a double whammy in 2020. Caverton wasn’t insulated. The group struggled with the volatility of its operating environment on one hand and the larger national and global economic challenges on the other. Undaunted by those challenges, Bode led the Group —with a diversified portfolio— to unveil a cocktail of measures to remain relevant in Nigeria’s oil and gas sector and have a more weatherproof operation and outlook. Its latest drive is commercial boat construction with the prototype, Caverton Waterbus, a 12-metre, 40-passenger boat, unveiled at the Nigerian Oil and Gas Conference in Abuja last month. But Caverton’s biggest diversification bet is its venture into the training of pilots and the maintenance of aircraft in its Lagos state-of-the-art maintenance, repair and overhaul facility. Caverton also handles third-party operations, including for the Nigerian Navy and maintenance of the Presidential fleet of the Benin Republic. Unarguably, Polo-loving Bode —who hold a Bachelor’s degree in Mechanical Engineering from the University of Leicester and a Master’s Degree in Trade, Shipping and Finance from City University Business School— has done a fantastic job of taking the business to the next level in his capacity as the one overseeing its day-to-day running.
