The Sandesara brothers fled India in 2017 and now their business is booming in Nigeria
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About 20 years ago, he entered Nigeria’s oil industry and now his focus is solely on the business there. According to the CBI, the Sandesara brothers have also applied for citizenship of Nigeria. In November, Nigeria’s government celebrated the discovery of one billion barrels of oil reserves in the dry northeast of the country, according to a Bloomberg report. Sandesara Brothers is the partner of the Government of Nigeria in this discovery. Nigeria’s new President Bola Tinubu has set new goals for the country’s hydrocarbon sector. Due to this the importance of Sandersa Brothers has increased. Tinubu has announced the abolition of subsidy on petrol in the country, due to which its price in the country has tripled overnight.
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Nigeria is the largest oil producing country in Africa. But big companies like Shell and ExxonMobil have left the country. In such a situation, the Sandesara brothers are getting silver. His company has been given the responsibility of extracting oil in this project. His companies Sterling Oil Exploration and Production Company and Sterling Global Oil Resources Ltd extract about 50,000 barrels of crude oil a day. These companies are preparing to extract oil from another block. Their daily production is expected to go up to 100,000 barrels by the end of this year. The Sandesara family is one of the largest oil exporting companies from the West African country of Nigeria.
The Sandesara family had a tea trading business. In the 1980s, Nitin and Chetan Sandesara expanded this business into many sectors. These include oil and gas, health care, construction and engineering sectors. His company was among the world’s largest manufacturers of pharmaceutical grade gelatin. In the early 2010s, the group’s value was around $7 billion. According to the CBI, the group defrauded several banks including SBI, Bank of Baroda and Union Bank of India to the tune of Rs 14,000 crore. The Sandesara brothers are accused of using fake documents to obtain loans and sending money abroad.
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The Government of India has also issued a non-bailable warrant against him. But the Nigerian government refused to arrest the Sandesara brothers four years ago. He said that the allegations against him were politically motivated. In India, he had a 60,000 square feet farmhouse in Gujarat. Also he had his own private plane and many expensive cars. He used to organize big parties in his farmhouse. In Nigeria too, he has maintained this tradition. There they throw a big party on the occasion of Diwali and invite big personalities to it. The Sandesara brothers are close to many celebrities in Nigeria and this gives them a lot of advantage in business.
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