Sir Kesington Adebukunola Adebutu, popularly known as “Baba Ijebu,” is a highly influential Nigerian business magnate, industrialist, and philanthropist. He is best known as the founder and Chairman of Premier Lotto Limited(PLL), one of Nigeria’s leading lottery and gaming companies.
Early Life and Education
- Birth: Adebutu was born on October 24, 1935, in Iperu Remo, Ogun State, Nigeria.
- Education: He received his elementary education at Wesley Primary School in Iperu Remo before moving to Ijero Baptist School, Ebute-Metta, Lagos. He attended Baptist Academy, Lagos, for his secondary education, which he completed at Remo Secondary School (RSS), Sagamu, Ogun State, in 1955.
Career and Businesses
Adebutu’s business career began in the post-colonial era, demonstrating an early entrepreneurial spirit.
- Early Career: After school, he worked at Classic Chemical Limited (a pharmaceutical company producing products like Andrew’s Liver Salt and Cafenol), where he rose from a salesman to a Sales Manager.
- The Lotto Empire: In 1963, he left the chemical company to start his own pooling business. He reportedly rented his first pool shop with just £3. This modest venture, initially named Face-to-Face Million Dollar Pools Limited, grew into his flagship enterprise, Premier Lotto Limited (PLL), which was formally incorporated in 2001. The name “Baba Ijebu” (meaning “Ijebu father/elder”) became synonymous with his popular lottery and gaming brand.
- Diversified Investments: Leveraging the success of his gaming business, Sir Adebutu diversified his portfolio into a vast business conglomerate with interests spanning:
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- Construction: He is the Chairman of Arbico Plc, a public-listed building and civil engineering company.
- Banking/Finance: He holds substantial shares in Wema Bank Plc through his investment vehicle, Neemtree Limited.
- Oil and Gas: Interests in the sector through companies like Wessex Petroleum.
- Real Estate: Ownership and management of real estate assets through ventures like Pentagon Real Estate.
- Agriculture, Manufacturing, and Entertainment.
Net Worth
While there are no publicly verified, official figures for his total net worth, Sir Adebutu is widely considered one of Nigeria’s wealthiest individuals. His wealth is derived from his majority stake in the highly profitable Premier Lotto, as well as significant investments in construction, real estate, and banking. His business empire is frequently described as being worth billions of Naira.
Wife and Children
Sir Kesington Adebutu has been a devoted family man.
- Wives: He is a polygamist. One of his wives, Dame Caroline Oladunni Adebutu, passed away in January 2023. Another prominent figure is Chief Mrs. Kofoworola Adebutu Kessington, whom he married in 2005.
- Children: He is a father to many children, many of whom hold director-level positions in his companies and have become successful businesspeople and politicians in their own right.
- Notable children include:
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- Mr. Adesegun Adebutu (Segun Adebutu): Founder, Chairman, and CEO of Petrolex Oil and Gas, a major integrated energy conglomerate.
- Ladi Adebutu: A prominent politician who has contested for the governorship of Ogun State.
Philanthropy (Kessington Adebukunola Adebutu Foundation – KAAF)
Adebutu is a renowned philanthropist. His foundation, Kessington Adebukunola Adebutu Foundation (KAAF), is focused primarily on supporting education, healthcare, and humanitarian causes across Nigeria. His contributions include:
- Donating state-of-the-art libraries, e-libraries, science laboratories, and buildings to numerous educational institutions (e.g., Crescent University, Baptist Academy, Olabisi Onabanjo University, and the University of Lagos).
- Supporting hospital patients and the less privileged.
Scandal and Controversy
The major controversies associated with Sir Kesington Adebutu and his company, Premier Lotto, have revolved around the competitive and regulatory landscape of the Nigerian gaming industry:
- Tax Fraud Allegations: In early 2020, the Economic and Financial Crimes Commission (EFCC) reportedly launched an investigation into Premier Lotto based on a petition from a rival gaming company (Western Lotto, owned by the late politician Buruji Kashamu). The petition alleged multi-billion Naira tax fraud and economic sabotage against the government.
- Industry Conflict: The feud between Adebutu’s Premier Lotto and Kashamu’s Western Lotto led to high-profile legal and governmental interventions, including a move by the House of Representatives to mediate the intense competition and allegations within the gambling sector.
Despite these legal challenges, he remains a respected elder statesman, holding numerous chieftaincy titles, including the prestigious Odole Oodua of Ile-Ife, and the Asoju Oba of Lagos.
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