Segun Adebutu

Adebutu founded a record company called Baseline Records, signing Nigerian musicians Skales and Saeon. In 2020, his radio station, Baseline FM, started test-running in Lagos.

Multiple officials at the lottery commission accused Mr. Kashamu of triggering the investigation because he wanted to dominate a section of the betting business in Nigeria. Following the petition Economic and Financial Crimes Commission (EFCC) started investigating Segun's father's Premier Lotto for tax fraud. Segun Adebutu attended the questioning on his father's company behalf on 28 January 2020. Tony Orilade, chief spokesperson for the EFCC, did not immediately return a request seeking comments on the details of the investigation.

Back then, it had the capacity to turnover 600 million litres of petroleum products every month, enabling products to be stored and distributed effectively and more efficiently, for better services and higher turnover. At the time of launch, it was expected that the tank farm project would be the largest product storage tank farm in sub-Saharam Africa and would create over 10,000 jobs. The company received its first cargo in Q2 of 2018.

After the conclusion of the first phase of the Mega Oil City, the result was an infrastructure that covers 101 square kilometres, making it Africa's largest petroleum products hub, approximately 10% of the size of Lagos State. The first phase of the project was the Ibefun tank farm in 2018, a US$426 million petroleum products storage facility with a 300-million-litre capacity, making it the largest and first of its kind in sub-Saharan Africa. The City also boasts 30 loading gantries and a 4000-truck capacity trailer park. It also reduced gridlock at the Apapa seaports by 60%.

In 2014, Adebutu founded Oladiran Olusegun Adebutu (OOA) Foundation, a non-profit and non-political organisation, established and registered with CAC in the year 2014 and based in South West, Nigeria. Since 2014, OOA Foundation has been involved in philanthropic initiatives ranging from educational support, health support, nutritional support, psychosocial support, recreational support, shelter and provision of clean water. It was formally launched on Saturday, 22 October 2016 at Abeokuta, Ogun State, South West Nigeria.

Back then, Segun Adebutu found the ideal place to set up an S&D facility in Ibafo, which is on the border between Ogun and Lagos. After setting the foundation, he started real estate acquisition in 2010 and block construction in 2013, until December 2017, when Segun Adebutu came under the spotlight when he drew massive attention, including from Nigerian Vice President, Prof Yemi Osibanjo, following the announcement of his construction of Sub-Saharan Africa's largest tank farm as a part of his Mega Oil City project in Nigeria. The tank farm is a 300-million litre storage facility with 20 storage tanks.

In 2007, Segun Adebutu founded Petrolex Oil & Gas Limited, as a part of Petrolex Group. For ten years, Adebutu quietly and organically nurtured his energy firm, Petrolex Oil & Gas Limited, into a key player in a volatile sector.

Segun Adebutu is born to the family of Kesington Adebukunola Adebutu, founder and chairman of Premier Lotto Nigeria Limited, who hails from Iperu Remo, Ikenne Local Government, and Caroline Oladunni, from Odogbolu, both in Ogun State, South West Nigeria. Segun Adebutu, graduated in Economics at the University of Ibadan, and started trading in oil and gas in 2004.

After starting with oil and gas trading in 2004, Segun Adebutu's ventures grew from small business into a world-class conglomerate with interests in shipping, mining, construction, infrastructure, real estate, telecommunications, and entertainment.