Seyi Makinde, whose full name is Oluseyi Abiodun Makinde, is a 56-year-old Nigerian politician, businessman, and philanthropist who was born on 25th December 196. He has a net worth of N48 billion naira, the equivalent of $104 million and is the executive governor of Oyo State, Nigeria. He owns several companies which contribute alongside his other businesses to his estimated net worth.
The millionaire earned his net worth from his companies and political career. He also gives back to society through his philanthropic gestures to the people. He contributes a lot to the lives of his people through education, health care, sports sectors, and other works of service to humanity. Some of the groups he works with to change lives have offered him some awards due to his generous contributions.
How Old Is Seyi Makinde?
Seyi Makinide is 56 years old as of 2024 and was born to a teacher-turned accountant on 25th December 1967. His parents, late Pa Olatubosun Makinde and Madam Abigail Mkinde are from Oja’ba in Ibadan.
Seyi Makinde’s Education
He attended St Paul Primary School, and St Michael Primary School, Yemetu, Ibadan, for his primary school education. He proceeded to Bishop Phillips Academy, Monatan, Ibadan for his secondary education.
At the age of 18, he was admitted into the University of Lagos (UNILAG) where he got his bachelor’s degree in Electrical Engineering.
In addition to these, he trained and acquired certifications in various training centers and schools across the globe. Makinde acquired training on Safety Shutdown System from Industrial Control Services, Houston, Texas, in 1998; Development Analytical Competence for Managing Operations in 1999 from Lagos Business School; automation training in 2000; Fundamentals of Crude Sampling in 2002 from Jiskoot Auto Control Training Center, Kent, England. Also, he studied at the Massachusetts Institute of Technology (MIT) in 2005, where he acquired a certification in Understanding and Solving Complex Business Problems.
All these education and pieces of training prepared him for the life ahead of him. It also laid the foundation for him in the business world which Seyi utilized positively in his career as a businessman.
How Seyi Makinde’s Net Worth Accrued
Seyi Makinde’s net worth is N48 billion naira which is the equivalent of $104 million. He started working at the age of 23 and he worked for seven years before starting his own company.
This company and other businesses he has engaged in over the years have contributed to his over $100 million net worth. Let’s take a look at his achievements and all the things that have contributed to his impressive net worth.
Makinde’s first working experience was the period of his National Youth Corps one-year compulsory service. He served with Shell Petroleum Development (SPDC) of Nigeria and was retained as a pupil engineer after his service. However, he left the company for Rebold International Limited, where he worked as a Field Engineer, and later the Field Manager.
A Chunk of Seyi Makinde’s Net Worth Comes From the Company He Founded at 30
Having worked for oil companies for seven years as an engineering manager; and having known the basics of running a company, Seyi Makinde started his own engineering company in his youth, just like a fellow business mogul Ibukun Awosika did in her twenties and has grown it from scratch to what we know today. In addition to the knowledge he acquired with experience, he decided to train himself more by acquiring the certifications he got.
Also, these certifications helped him to fully establish his company with the necessary documents and foundation. Seyi also became a member of both national and international bodies like NSE – Nigerian Society of Engineers; ISA – International Society of Automation; COREN – Council for Regulations and Engineering in Nigeria; Institute of Measurement and Control UK, etc.
At the age of 30, Makinde established Makon Engineering and Technical Services Limited (METS) as his first business. This company has given birth to other companies and is now called Makon Group of Companies.
The following companies make up the Makon Group of Companies owned by Seyi Makinde:
- Makon Power System Limited
- Makon Construction Limited
- Makon Oil and Gas Limited
- Makon Engineering and Technical Services Limited
- Energy Traders and Technical Services Limited
- Makon Group Limited
Before joining politics, these companies have been his main source of income and still are a major source of his net worth.
Makinde Joined Politics at the Age of 40
The business mogul also loves to be in the ruling class. He is not satisfied with founding and heading companies, he wants more power. His quest for power started in 2007 when he contested for the Oyo South Senatorial seat under ANPP. However, he lost several times to opposition parties until he joined PDP and got his first win in 2019 as the Governor of Oyo State.
Although Seyi started his political career without winning a position, he got fame and experience from it. These contributed to his big win in the political field.
Seyi Makinde Became the Governor of Oyo State at 52 Years Old
His journey in politics was filled with failures and disappointments but they did not weigh him down. The politician continued fighting till he achieved his aim. In 2007, he lost the Oyo South Senatorial seat to PDP’s Kamoru Adedibu. Seyi, under PDP, lost the 2011 Oyo South Senatorial seat to the incumbent senator of that local government. Not giving up, he aimed higher for the gubernatorial ticket under PDP but was denied the ticket in 2014. However, in 2015, Makinde switched parties from PDP to SDP – Social Democratic Party and contested again for the gubernatorial candidate but took the third position.
Seyi switched parties again in 2017 following the visit of the PDP Caretaker National Chairman, Sen. Ahmed Makarfi. When he came back a year later, he became the PDP gubernatorial candidate for the 2019 general elections. His first and big win in politics came at the 2019 General Elections when he emerged as the Oyo State Governor.
The political journey that Seyi Makinde started in 2007, at 40 years of age, bore him fruits in 2019, at 52 years of age. He never gave up. He has continued to rise whenever he falls which brought him to where he is today. Most people would have given up along the way, but he aimed higher and continued fighting. From 2019, politics was added to his sources of income, and his fat salary and allowances as a governor have immensely contributed to his net worth.
Seyi Makinde’s Awards and Recognitions
Makinde’s contributions as a businessman, philanthropist, and politician earned him some awards and recognitions nationally and internationally. Below is a list of these awards.
- Entrepreneurial Excellence Award by the University of Calabar chapter of Junior Chamber International
- National Association of Oke-Ogun Students (Ibadan) merit award
- CCII Ntional Merit Award
- Laudable Contribution to Humanity Merit Award by the Oyo State Council of Nigerian Union of Journalists
- Gold Merit Award for immense and invaluable contribution to sports development by the Oyo State Chapter of Sports Writers Association of Nigeria
- Astute Politician of the Year 2018 award by the Federal Radio Corporation of Nigeria, Ibadan
- Old Student Merit Award by Fidti Grammar School, Oyo State
- Merit Awards by the Nigerian Association of Social Workers
He Gives Back to Society
Before becoming the Governor of Oyo State, Seyi Makinde always had a thing for philanthropy. He has contributed in one way or the other to the lives of the Nigerian youths, health care facilities, and the sports sector, to mention a few. He provided scholarships for Oyo people and has touched the lives of many others through community development projects.
The businessman sees the need to sustain start-up businesses and has contributed immensely to this course. This was one of the reasons why he sojourned into politics. As a governor and politician, he has stayed true to his dreams of changing lives. His administration has touched the lives of citizens in all the zones in Oyo State.
Beyond His Career, Seyi Has a Successful Marriage
He got married to Tamunominini Makinde whom he met during his Youth Service days in Port Harcourt. They fell in love, courted, and eventually got married to each other. Interestingly, both of them are engineers and they are best friends. They have supported each other over the years and are still so much in love despite the many years they have spent together. Their union is blessed with three children, a boy, and two girls.