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Top 20 Richest Men in Nigeria

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Nigeria is endowed with a plethora of natural resources and intellectual capital. The country has valiant men and women who have dedicated themselves to the country’s positive growth. They are exceptional today because they chose the right path. Some of them were not born into wealthy families, but they have made strides for future generations. Without further ado, let’s get into the list.

Aliko Dangote: Aliko Dangote is the first on the list. This business tycoon is worth $12.5 billion. According to Forbes, he is the 67th richest man in Africa and the 183rd richest man in the world. In 1977, his company, the Dangote Group, began as a small trading firm. His company has grown to become Africa’s leading manufacturer of flour, sugar, and cement. The business magnate also expanded his operations into countries such as Nigeria, Benin Republic, Togo, Ghana, Ethiopia, Senegal, Cameroon, Tanzania, and Zambia. He has interests in other business ventures, the fruits of which contribute to his wealth.

More than wealth, Aliko Dangote is also known for giving back to society through donations and charity, such as a N50 million donation to the National Mosque and a N100 million donation to alleviate child hunger and malnutrition in Nigeria.

Mike Adenuga: Mike Adenuga is the list’s second business magnate. His fortune stems from telecommunications enterprises and investments, which have netted him $6.3 billion. Adenuga was a hard worker from the start. He began working as a cab driver to help pay for his tuition and other expenses. This was before his first million, which he earned at the age of 26 while trading lace materials and beverages.

He began his career in the mining industry before moving on to telecommunication services. Currently, his Globacom company is Nigeria’s second-largest telecommunications enterprise, after Conoil. In 2019, he was named the 22nd most influential person in Africa by the New African Magazine.

Alafayaa Kariboye-Igbo: Also known as “Oil Money,” Alafayaa Kariboye is a businessman and entrepreneur. His net worth is $6.1 billion, and he is currently involved in the oil and gas market and real estate management.

In the entertainment industry, he is setting the standard. He is the owner of a British Entrepreneur Label, the CEO of Trump’s music and events, and the founder of Best Car Sales LTD. Jaydboy is one of the official artists signed to his label, Oil Money Records, which was founded in March 2021.

Femi Otedola: Zenon Petroleum and Gas Limited is owned by Femi Otedola. He is also the chairman of Forte Oil PLC.

femi otedola

He is the son of former Lagos State Governor Micheal Otedola and the father of social media stars Temi and Florence (DJ Cuppy). His net worth is currently $5.9 billion. Femi Otedola’s investments are not limited to the oil and gas industry. He has large investments in shipping, and finance. His real estate holdings are not only in Nigeria, but also in Dubai, London, and the United States.

He is a creative genius and a philanthropist, and he supports some scholarship programs in Nigeria. He is well-known for his generosity to Micheal Otedola University students. Some of the other notable charity work he has done include his N200 million donation to the State Security Trust Fund in 2007 to reduce crime in Lagos.

Arthur Eze: Arthur Eze is a prince from a royal family in Ukpor, Dunukofia Local Government Area, Anambra State. Atlas Oranto Petroleum was founded by him. His net worth is currently $5.8 billion.

Arthur eze

The majority of his assets are in the oil and gas industry. His company is Nigeria’s largest privately-owned petroleum company. His businesses can also be found in Liberia, Guinea, and the Gambia. He is a mechanical and chemical engineer who also happens to be a politician.

Over time, Arthur Eze has donated generous sums to political parties, including the PDP. Some of his charity work includes building a medical research facility at Nnamdi Azikwe University.

Cletus Ibeto: Cletus Madubugwu Ibeto is a businessman hailing from the city of Nnewi. He serves as the Ibeto Group’s Chief Executive Officer. He is a hard-working entrepreneur who invests in a variety of industries.

Cletus ibeto

His net worth is estimated to be more than $3.8 billion. His resort establishments are well-known throughout the country. He works in real estate, cement manufacturing, petroleum & gas, energy distribution, and even automobiles. He began his journey as a spare parts import dealer, after serving as an apprentice in the automobile industry. Eventually, the Ibeto Group became one of the largest auto spare parts manufacturers in the country.

Benedict Peters: Benedict Peters is a Nigerian business magnate with ties to the petroleum industry.

Before joining MRS Oil Nigeria PLC, he worked for Oando PLC. He was so driven by the desire to make things better that he went on to create his own petroleum industry. Benedict Peters is currently the CEO of Aiteo Group, one of the largest petroleum industries in the country. He has $3.3 billion in assets. As part of his charitable work, he started the Joseph Agro Foundation, which helps farmers in rural areas live better lives.

Emeka Offor: Emeka Offor was regarded as Nigeria’s richest Igbo man. He started his business by importing bitumen.

Emeka offor

He had been in the business for many years and had become acquainted with many well-known corporations. In 1985, he founded Chrome Oil Services. In 1994, he transformed the company into the Chrome Group, a conglomerate. This includes industries such as telecommunications and energy. He is estimated to be worth $2.9 billion.

Emmanuel Nnamdi Uba: Emmanuel Nnamdi Uba is a businessman and philanthropist who served as governor of Anambra State for only 14 days.

Emmanuel Nnamdi Uba

He was appointed governor on May 27, 2007, but his rule was terminated on June 14, 2007, by the Supreme Court. He amassed a net worth of $2.1 billion as a result of his business exploits.

Igho Sanomi: Igho Sanomi is currently a businessman who has retired. During his tour of duty, he served as a police officer. He is the owner of one of the country’s largest conglomerates.

Igho Sanomi

He is the founder of Cosmos AG Oil, the CEO of Talaveras, and many other companies. He amassed his $2.1 billion net worth through numerous investments in real estate, energy, and communications. Igho Sanomi also founded a humanitarian organization named Dickens Sanomi Foundation (DSF), in 2011 in memory of their father. The foundation exists to alleviate socio-economic problems in Nigeria. It also provides children and young people access to education. Because of his philanthropic activities, he has been awarded several honors.

Ambrose Bryant Chukwueloka: popularly known as ABC Orjiako, started his entrepreneurial journey as a medical doctor. He worked for a while before entering the money market.

Ambrose Bryant Chukwueloka

He was a surgeon, but he was also interested in business. Before establishing the Seplat Petroleum Industry, he attended Harvard Business School. He has a net worth of $1.2 billion. Orjiakor also operates in other businesses, including construction, pharmaceuticals, and shipping, not to mention his several positions and stakes in different companies. His humanitarian work includes focusing on education, healthcare, the economy, and employment.

Emmanuel Ojei: Because of his numerous investments in banking and automobile services, Emmanuel Ojei has amassed a net worth of $1.2 billion. He is the sole proprietor of Ojei Holdings Limited.

Emmanuel Ojei

He is a very successful investor and industrialist with a group of worldwide companies in diverse forms of trade, including construction, banking, sales, and automobile services.

Abdul Samad Rabiu: Abdul Samad Rabiu is a billionaire with a net worth of $1.1 billion.

Abdul Samad Rabiu

He developed his business acumen by investing in his company, the BUA group, and real estate. The BUA Group is one of Nigeria’s largest cement and sugar producers. He possesses several refineries in various parts of the country.

His father, Khalifah Isyaku Rabiu, gave him the BUA group company. His father was a hard worker. Despite this, he did not settle on the successes of the family company. He went on to improve the company’s infrastructure and establish new institutions.Abdusalam Rabiu has been a tremendous help to the nation. Through the BUA Foundation, he paid for the building of the Pediatric Ward at Aminu Bayero University.

Jimoh Ibrahim: Jimoh Ibrahim’s current net worth is $1.1 billion as a result of his investments in real estate, oil and gas, and insurance. He is a businessman, lawyer, politician, and philanthropist who was born in 1997.

Jimoh Ibrahim

He is the CEO of Global Fleet Group, a business conglomerate that invests in a variety of areas. Global Fleet Oil and Gas, the most successful group in his conglomerate, has grown over the years. He has donated N40 million to the Ondo State Government in the struggle against COVID-19, as well as scholarship opportunities to Ondo State youths, as part of his humanitarian efforts.

Orji Uzor Kalu: Former Governor of Abia State, Orji Uzor Kalu He is the CEO of SLOK Holdings and is worth $1.1 billion. His investments include furniture manufacturing, transportation, and the oil and gas industry.

Orji Uzor Kalu

He is also a shareholder in the Daily Sun and the New Telegraph newspapers. He also owns a foundation that gives scholarships to undergraduates as well as anti-malaria treatment to impoverished communities. He began in the palm oil business before moving on to furniture manufacturing and diversifying into other ventures. A few years after his business meeting, his company, SLOK Holdings, became a reality. Today, SLOK Holdings is a conglomerate that includes a wide range of industries from all over the world.

Paschal Gabriel Dozie: Paschal Gabriel Dozie is a hard-working businessman. He focused on financial firms and experienced rapid progress in the field.

He is the Chairman of Diamond Bank PLC, one of the country’s leading commercial banks. He is a former Director of the Central Bank of Nigeria, a former President of the Nigerian Stock Exchange, and the Chairman of the Nigeria Economic Summit Group until recently. He is committed to progress and currently has a net worth of $2.1 billion.

Folorunsho Alakija: The first woman on this list is Folorunsho Alakija. Her investments include the fashion, real estate, oil and gas, and printing industries.

She is the richest African businesswoman, with a net worth of $1 billion. As of 2014, Forbes ranks Alakija as the 96th most powerful woman in the world. According to Forbes, two Nigerian women, Finance Minister Ngozi Okonjo-Iweala and Alakija, were named among the world’s top 100 most powerful women in May 2015. She was 86th on the list.

In 1993, she established the Famfa Group. She is a philanthropist for the Rose of Sharon Foundation, which promotes women’s empowerment. She supports many Nigerian students through the Folorunsho Alakija Scholarship Scheme, as well as other scholarship programs.

Jim Ovia: Jim Ovia established Visafone Communication, which is now a subsidiary of the MTN group. He did not back down as he pursued the acquisition of Zenith Bank, one of Nigeria’s top-ranking financial institutions.

Jim Ovia

Furthermore, the bank has branches in several international countries, including Ghana, Gambia, Sierra Leone, and the United Kingdom. He is an economist and the chairman of a number of the country’s largest conglomerates. In addition, he owns the five-star Quantum Luxury Property in Lagos. His non-profit organization, the Jim Ovia Foundation, focuses on providing young people with ICT skills and university scholarships. He currently has a net worth of $980 million.

Danjuma Theophilus: Danjuma Theophilus, amidst being a retired army general, continues to make waves in the business world. He is one of the billionaires with a stake in the country’s wealth through the extraction of oil and gas. He is the CEO of South Atlantic Petroleum (SAPETRO) and is worth $750 million.

Danjuma Theophilus

He did not begin his career at the gold mine in his early years. His parents made a living through agricultural production and the metal trade. He was deeply involved in politics after school and while in office. During the Olusegun Obasanjo administration, he was appointed Chief of Staff.

Tony Elumelu is a successful businessman with a $700 million net worth. His primary holdings include Heir Holdings, Transcorp Company, and the United Bank for Africa.

Tony Elumelu

He is a true businessman and philanthropist who graduated from Harvard Business School. When he bought the United Bank for Africa in 2005, he reformed it from a local commercial bank to a Pan-American commercial bank with accounts in 19 countries.

He demonstrated his worth by investing in capital services, real estate management, agriculture, and the energy industries. Tony Elumelu is a social activist with numerous official positions in financial institutions. Through his financial achievements, he has helped thousands of entrepreneurs all over the world.

Conclusion

Nigeria is just one of the different countries in Africa and yet it has some level of pride in having some of the richest people in Africa and the world. These individuals had dedicated their lives to creating businesses, conglomerates, and foundations capable of putting them on the list of richest people in Nigeria. Although some of them may have been born with a silver spoon or dabbled in some other venture that contributed to their wealth, there is no denying the amount of resilience, creativity, and financial intelligence that has helped them.

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