Honeywell Group

Honeywell Group is a conglomerate based in Nigeria. It operates in diversified businesses such as foods and agriculture, telecommunication and infrastructure, real estate and financial services.[1] The company was founded by Dr. Oba Otudeko, who is the group chairman.[2]

Not to be confused with Honeywell, a multinational American conglomerate.
Honeywell Group
Private
IndustryConglomerate
Founded1972
FounderOba Otudeko
HeadquartersLagos, Lagos State, Nigeria
Products
Services
  • Energy
  • Real Estate
  • Security
  • Hospitality
  • Power
Number of employees
10,000
Subsidiaries
  • Honeywell Flour Mills
  • HOGL Energy Limited
  • Pivot Engineering Company
  • Uraga Real Estate
  • Anchorage Leisures
  • Pavilion Technology
  • Broadview Engineering
  • Hudson Power
  • Uraga Power Solution
  • Honeywell Energy
Website

Overview

Honeywell operates across five main sectors.[3] The Group is diversified along the lines of foods and agro-allied, real estate, infrastructure, energy and services.[4] During the Centenary anniversary of Nigeria in 2014, the Federal Government recognised the Honeywell Group among the top 100 companies in the country[5]

History

Honeywell started as a trading enterprise. Initially, the company majored in importation and marketing of commodities between the North and South of Nigeria and later across the West African sub-region, especially Ghana.[6] The company traded baking yeast, stock fish, glass, steel rods and other commodities.[7] The Group has since evolved into a leading Nigerian conglomerate employing over 5000 staff.[8] Honeywell Group has also recorded a number of milestones in its almost 5 decades of operations. Some of these milestones are: listing of Honeywell Flour Mills on the Nigerian Stock Exchange in 2009 after an initial public offering (IPO) in 2008;[9] opening of the first Radisson Blu hotel brand in Nigeria in 2011 (the Radisson Blu Anchorage Hotel in Victoria Island);[10] and launch of the first trampoline park in West Africa, called Upbeat Recreation Centre, Lekki Lagos.[11]

Subsidiaries

The Group is divided into five main sectors; namely, Foods & Agro Allied, Infrastructure, Energy, Real Estate and Services. The Foods & Agro Allied subsidiary is Honeywell Flour Mills Plc (flour-based consumer products) which is listed under the Nigerian Stock Exchange.[12] Under Infrastructure, there are Pivot Engineering Company Limited (an electrical and mechanical engineering contracting firm) and Broadview Engineering Ltd (an EPC contracting company in oil and gas).[13]

In the Energy sector, the Group’s interests include HOGL Energy Limited (an operator in the downstream sector of the oil industry); Hudson Petroleum Limited (representing the upstream oil activities of the Group); Hudson Power Limited (a power generation and distribution company) and Honeywell Energy Resources International Ltd (energy provider). The Honeywell Group with its energy aspect of business partnered with General Electric (GE) in 2013 to boost power generation in Nigeria.[14]

Uraga Real Estates Limited (a property development company)[15] and Anchorage Leisures Limited (a tourism and hospitality promotion outfit) make up the Real Estate sector of the Group. Pavilion Technology Limited is the Group's operating company in the Service sector.[16]

Contributions

Honeywell contributes to human and economic development through a number of initiatives. It has the Honeywell Baking School programme, which is a vocational training programme in Baking Technology. The programme offers participants skills on modern and more efficient baking methods that will ensure better baked products.[17] Honeywell Group also runs the Honeywell Excellence Programme (HEP). HEP is a platform for young, intelligent Nigerian graduates of tertiary institutions to hone their business management skills by providing them with a comprehensive and robust training in business management principles, over a-12 month period.[18] Recently, Honeywell launched an accelerator programme called Itanna.[19] Itanna is a social impact investment aimed at facilitating rapid growth of innovative, tech-based start-ups and transform them into strategic enterprises that will further propel economic growth on the African continent.[20] Finally, Honeywell regularly donates gifts, cash and products to orphanages as part of its corporate social responsibility.[21]

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References
  1. "Honeywell Group". World Economic Forum. Retrieved 2017-06-10.
  2. "Leadership - Honeywell Group". Honeywell Group. Retrieved 2017-06-10.
  3. Kudaya, Francis (2012). "Business & Management Journal". Dr. Oba Otudeko: The Driving Force of Nigeria's Entrepreneurial Renaissance. 2 (3). Michael Stevens Consulting.
  4. "Honeywell Group: Private Company Information - Bloomberg". bloomberg.com. Retrieved 2017-06-11.
  5. Adeleke, Dr. Wale. "Jonathan hosts CEOs of the Top 100 businesses in Nigeria - Regions". NaijaSky. Retrieved 2017-06-20.
  6. Kudaya, Francis (2012). "Business & Management Journal". Dr. Oba Otudeko: The Driving Force of Nigeria's Entrepreneurial Renaissance. 2 (3). Michael Stevens Consulting.
  7. Agekameh, Dele. "Oba Otudeko: Celebrating an Icon". thenationonlineng.net. The Nation. Retrieved 30 July 2019.
  8. Komolafe, Babajide. "Oba Otudeko: Lifetime of Entrepreneurship Read more at: https://www.vanguardngr.com/2018/01/oba-otudeko-lifetime-entrepreneurship/". vanguardngr.com. Vanguard Newspapers. Retrieved 30 July 2019. External link in |title= (help)
  9. Kudaya, Francis (2012). "Business & Management Journal". Dr. Oba Otudeko: The Driving Force of Nigeria's Entrepreneurial Renaissance. 2 (3). Michael Stevens Consulting.
  10. "Radisson Blu Anchorage Hotel opens in Lagos". BivNze's Space. Retrieved 30 July 2019.
  11. Ajomale, Gboyinwa. "First ever West Africa trampoline park opens in Lagos". pulse.ng. Pulse.ng. Retrieved 30 July 2019.
  12. "HONYFLOUR:Lagos Stock Quote - Honeywell Flour Mill PLC". Bloomberg.com. Retrieved 2017-06-20.
  13. (http://www.hydrant.co.uk), Site designed and built by Hydrant (2012-11-08). "OBG talks to Oba Otudeko, Chairman, Honeywell Group". Oxford Business Group. Retrieved 2017-06-11.
  14. Gupta, Kasturi. "Honeywell and GE to build 150MW power plant in Nigeria". African Review (in Polish). Retrieved 2017-06-11.
  15. "Uraga Real Estate Company Profile | Matchdeck". matchdeck.com. Retrieved 2018-03-09.
  16. "Oba Otudeko: Lifetime of Entrepreneurship". Vanguard News. 2018-01-01. Retrieved 2019-06-14.
  17. Published. "Honeywell graduates 14 master bakers". Punch Newspapers. Retrieved 2019-06-14.
  18. "Growing Capacity Through Training". ThisDay. 2015-0-0. Check date values in: |date= (help)
  19. Ojekunle, Aderemi. "Honeywell Group launches Itanna, an accelerator program for tech startups in Nigeria". Business Insider by Pulse.
  20. "Honeywell Group launches Lagos-based Itanna accelerator and investment vehicle". Ventureburn. 2018-08-07. Retrieved 2019-06-14.
  21. editor (2019-05-31). "Honeywell Restates Commitment to CSR, Donates to Orphanages". THISDAYLIVE. Retrieved 2019-06-14.CS1 maint: extra text: authors list (link)
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