Nigerian oil and gas magnate Kola Karim has shared the three simple but powerful business principles he believes transformed him from a middle-class boy in Ibadan into a global entrepreneur leading a company with annual revenues exceeding $1 billion.
Speaking in an interview with James of The School Of Hard Knocks, Karim offered rare insights into the mindset, negotiation skills and global outlook that have defined his remarkable rise in business, while encouraging young entrepreneurs to focus less on money and more on building value.
Asked the secret behind his wealth, Karim’s response was brief but emphatic: “By working hard.”
The businessman, whose interests span the oil and gas industry across multiple countries, said he did not grow up wealthy.
“No, but I come from a reasonably middle-class family,” he said, recalling his roots in Ibadan, Nigeria.
According to Karim, the first quality that separates exceptional entrepreneurs from the rest is the ability to identify opportunities before others do.
“Ability to smell, see, feel and touch a deal,” he said when asked about his business superpower.
That instinct, he suggested, has been instrumental in helping him secure some of the biggest transactions of his career, including an oil and gas deal worth just over $1 billion.
Karim also stressed that every successful entrepreneur must master the art of selling and negotiation.
“As an entrepreneur, you got to be a good seller,” he said, before reducing successful negotiation to three memorable words:
“Listen. Agree or disagree, close.”
The billionaire businessman further challenged the belief that huge capital is required before starting a business, insisting that intelligence and credibility matter far more than cash.
“You don’t need that much money. You need smart,” he said.
“The world is not short of capital. There is capital always looking for a return. But that capital is waiting to match the right person.”
Beyond entrepreneurship, Karim urged young business owners to think beyond national borders while remaining connected to local realities.
With business operations extending into the United States, where his company is actively producing oil and gas, Karim said global thinking has become essential in today’s interconnected economy.
“The key is, if you look at the world, we are so interconnected today. So any business that is worth its onions got to think global. But I call it Glo-Cal. Go global but think local.”
As the interview drew to a close, Karim left young people with a message that reflected both ambition and purpose.
“Do your best. Leave the rest. But live life making a mark that you could be remembered for doing something good that has added value to the lives of so many people.”
His reflections distilled three enduring principles that have shaped his journey: developing an instinct for spotting opportunities, mastering the art of selling and negotiation, and building businesses with a global vision while remaining grounded in local realities—principles that have helped turn a businessman from Ibadan into a global entrepreneur behind billion-dollar deals.
Asked the secret behind his wealth, Karim’s response was brief but emphatic: “By working hard.”
The businessman, whose interests span the oil and gas industry across multiple countries, said he did not grow up wealthy.
“No, but I come from a reasonably middle-class family,” he said, recalling his roots in Ibadan, Nigeria.
According to Karim, the first quality that separates exceptional entrepreneurs from the rest is the ability to identify opportunities before others do.
“Ability to smell, see, feel and touch a deal,” he said when asked about his business superpower.
That instinct, he suggested, has been instrumental in helping him secure some of the biggest transactions of his career, including an oil and gas deal worth just over $1 billion.
Karim also stressed that every successful entrepreneur must master the art of selling and negotiation.
“As an entrepreneur, you got to be a good seller,” he said, before reducing successful negotiation to three memorable words:
“Listen. Agree or disagree, close.”
The billionaire businessman further challenged the belief that huge capital is required before starting a business, insisting that intelligence and credibility matter far more than cash.
“You don’t need that much money. You need smart,” he said.
“The world is not short of capital. There is capital always looking for a return. But that capital is waiting to match the right person.”
Beyond entrepreneurship, Karim urged young business owners to think beyond national borders while remaining connected to local realities.
With business operations extending into the United States, where his company is actively producing oil and gas, Karim said global thinking has become essential in today’s interconnected economy.
“The key is, if you look at the world, we are so interconnected today. So any business that is worth its onions got to think global. But I call it Glo-Cal. Go global but think local.”
As the interview drew to a close, Karim left young people with a message that reflected both ambition and purpose.
“Do your best. Leave the rest. But live life making a mark that you could be remembered for doing something good that has added value to the lives of so many people.”
His reflections distilled three enduring principles that have shaped his journey: developing an instinct for spotting opportunities, mastering the art of selling and negotiation, and building businesses with a global vision while remaining grounded in local realities—principles that have helped turn a businessman from Ibadan into a global entrepreneur behind billion-dollar deals.
Kola Karim is a Nigerian businessman and investor renowned for building one of Africa’s leading indigenous energy companies, with operations across Africa, the United States and other international markets.
A native of Ibadan, Oyo State, he has earned global recognition for his accomplishments in the oil and gas sector, overseeing businesses with annual revenues exceeding $1 billion while championing entrepreneurship, innovation and sustainable economic growth.
He is the Chairman of Shoreline Group, a diversified energy and infrastructure conglomerate with interests in oil and gas, power, engineering, construction and logistics, operating across Africa and beyond.
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