Nigerian oil and gas entrepreneur and business leader, Chief Kola Karim, has shared the principles behind his success journey, attributing his achievements to hard work, strategic thinking and the ability to identify opportunities.
Speaking during an Interview with School of Hard Knocks, James Dumoulin, where accomplished individuals share insights into their wealth creation journeys, Karim was asked how he became successful.
His answer was straightforward: “Hard work.”
The Ibadan born business leader said his journey was shaped by discipline, determination and the ability to recognize valuable opportunities. He described one of the greatest skills in business as the ability to “smell, see, feel and touch a deal.”
Karim revealed that he has been involved in major business transactions, including what he described as his biggest deal worth more than $1 billion.
On negotiations, the oil and gas mogul shared his simple approach: “Listen, agree or disagree, and close.” He emphasized that understanding people and situations is key to successful business decisions.
Capital Follows the Right Opportunity
Addressing the perception that huge personal wealth is required to enter the oil and gas sector, Karim said entrepreneurs should understand how capital works.
According to him, the world is not short of capital; rather, investors are constantly looking for the right people, ideas and businesses capable of generating returns.
“You don’t necessarily need that much money to go into oil and gas,” he said, explaining that strong vision, credibility and execution can attract investment.
Think Global, Operate Local
With business interests extending beyond Nigeria, including the United States, Karim encouraged entrepreneurs to adopt a global mindset.
He described his approach as “glocal” combining global thinking with local understanding.
“If you look at the world today, we are so interconnected. Any business that is worth its onions has to think global,” he said.
Karim concluded by encouraging people to focus on impact, saying: “Do your best and leave the rest,” while urging individuals to build lives that create lasting value.
