Top 20 Richest Nigerians Of All Time And How They Made Their Money
Nigeria is home to several business tycoons; some started with little or nothing, while others had help from family and friends; nevertheless, they all were successful.
It proves that there are business opportunities one could invest in or venture into with the right amount of help and turn out quite successful.
This list comprises the top 20 wealthiest persons in Nigeria, their net Worth, which runs into millions of naira, and the businesses they are involved in. Read on to find out the new billionaires in the picture:-
- Igho Sanomi
Net Worth: $500 Million
Igho Sanomi is an entrepreneur and Philanthropist. Sanomi was one of the youngest billionaires within the country.
His wealth is gotten from numerous business sectors, as his business interests include oil, real estate, aviation, maritime industry, telecommunications, logistics, and power.
Igho Sanomi was the executive Director of Cosmos oil. In 2004, he founded Taleveras Group, subsequently purchasing Agam Power.
- Oba Otudeko
Net Worth: $650 Million
Oba Otudeko is a Nigerian businessman best known for being the founder and Chairman of Honeywell Group.
In addition, he was a banker and former Director to the Board of the Central Bank of Nigeria.
Oba Otudeko’s wealth comes from diversified industrial, trading, and investment conglomerates.
- Fifi Ekanem
Net Worth: $850 Million
Fifi Ekanem Ejindu is an architect, businesswoman, and Philanthropist.
She founded Starcrest Group, which is involved in real estate, building construction, oil, and gas.
This company has been quite successful as Fifi Ekanems currently stands as the 18th richest person in Nigeria, with a net worth of $850 million.
Richest People In Nigeria
- Theophilus Danjuma
Net Worth: $900 Million
Theophilus Yakubu Danjuma is a politician and retired Nigerian Army Lieutenant General who is an oil and gas guru.
Danjuma is one of the richest men in Nigeria, amassing an enormous fortune through shipping and petroleum. He is
The CEO of South Atlantic Petroleum (SAPETRO).
- Bola Shagaya
Net Worth: $950 million
Bola Shagaya started her business with the importation of photographic materials.
It led to the creation of Konica, a brand of photographic materials in Nigeria and West Africa.
In 1983, she worked in the Central Bank of Nigeria (CBN).
She has made some smart business choices, earning her a spot as No.16 among the wealthiest persons in Nigeria.
- Jim Ovia
Net Worth: $980 Million
The founder of Zenith Bank, Jim Ovia, is the 15th wealthiest man in Nigeria.
His sources of income include commercial banking, real estate, and technology.
He is also the founder of Visafone Communications Limited and the Chairman of the Nigerian Software Development Initiative.
- Benedict Peters
Net Worth: $1 Billion
Benedict Peters is an oil and gas guru who founded the Aiteo Group, one of Nigeria’s largest indigenous oil producing firms.
Currently, the wealthiest person in Delta State, Nigeria, Benedict Peters, is said to have investments in numerous energy industries, and these investments are producing good returns for the billionaire.
- Pascal Dozie
Net Worth: $1 Billion
Pascal Gabriel Dozie is a Nigerian entrepreneur and businessman, best known for being the founder of Diamond Bank and the Chairman of Pan-Atlantic University.
He is also one of the six largest individual shareholders in MTN; it is no surprise that he is the 13th richest person in Nigeria.
However, one can hardly tell Pascal Dozie’s financial status as he lives a short private life.
- Uzoma Dozie
Net Worth: $1.1 Billion
CEO and founder of Sparkle, Uzoma Dozie, is one billionaire worthy of note.
With a net worth of $1 billion, the founder of the financial technology community and ecosystem is currently one of the richest men in Nigeria.
In 2014 he became the CEO of Diamond Bank. Subsequently, in 2018, he successfully merged the Bank with Access Bank Plc.
Richest People In Nigeria
- Jimoh Ibrahim
Net Worth: $1.1 Billion
Jimoh Ibrahim is a lawyer, politician, businessman, and Philanthropist who makes his wealth from an extended range of business sectors.
Ibrahim is the CEO of Global Fleet Group, a conglomerate based in Nigeria, with diversified business interests and subsidiaries within and outside the country.
Jimoh Ibrahim is currently worth over $1 billion, and this amount got from his investments in oil & gas, hospitality, real estate, airlines, banking, among others.
- Dr. Bryant (ABC) Orjiako
Net Worth of $1.2 billion
One of the wealthiest doctors in Nigeria, Dr. Ambrose Bryant Chukwueloka Orjiako, is the co-founder and Chairman of the independent oil and gas company SEPLAT.
He has also made wise investments in various sectors of the economy, from Pharmaceuticals, Oil and Gas, Shipping, Banking, and even Insurance.
- Tony Elumelu
Net Worth: $1.4 Billion
Nigeria economist, entrepreneur, and philanthropist, Tony Elumelu is next on the list at number nine.
He is the Chairman of the United Bank for Africa (UBA), the founder of The Tony Elumelu Foundation, and the CEO of Heirs Holdings.
In 2005, he acquired Standard Trust Bank, subsequently followed by UBA. In addition, Tony founded Heirs Holdings in 2010, intending to invest in financial services, real estate, energy, agriculture, healthcare, and hospitality.
This endeavor is quite successful as he is, at the moment, one of the richest men in Nigeria.
- Folorunso Alakija
Net Worth: $1.9 Billion
The richest woman in Nigeria, Folorunso Alakija, is a business guru and investor who has made herself well known in the Nigerian economy.
Folorunso Alakija is the Managing Director of The Rose of Sharon Group, which consists of printing industries.
She is also involved in fashion, real estate, oil, and gas, where she currently serves as the executive vice-chairman of Famfa Oil Limited.
It has earned her a spot as No. 8 on this list and several global recognitions.
- Orji Uzor Kalu
Net Worth: $3.2 Billion
Orji Uzor Kalu, one time former governor of Abia State, Nigeria, is one politician who knows his way around entrepreneurship.
Standing as the 7th richest man in Nigeria, Orji Uzor is the Chairman of the Nigerian newspapers, Daily Sun and New Telegraph.
Uzor Kalu is also the Chairman of SLOK Holding. The former governor has harnessed a net worth of $3.2 billion from his wise investments and stands as the 7th richest man in Nigeria.
- Cletus Ibeto
Net Worth: $3.8 Billion
Business tycoon and entrepreneur Cletus Ibeto is currently the 6th richest man in Nigeria.
Ibeto is head of The Ibeto Group, the most prominent business enterprise from Nnewi, which focuses on hospitality, real estate, oil, and gas.
These investments are no doubt lucrative as Cletus’s net Worth is a whopping sum of $3.8 billion.
- Abdul Samad Rabiu
Net Worth:$4.9 Billion
Abdul Samad Isyaku Rabiu is a businessman and Philanthropist. He is the son of Khalifah Isyaku Rabiu, one of Nigeria’s foremost industrialists in the 1970s and 1980s.
Today, Abdul Samad is the fourth wealthiest man in Nigeria; his wealth is gotten from being the founder and Chairman of BUA Group, which he created in 1988 for commodity trading.
The company is a conglomerate concentrating on cement production, sugar refining, and real estate. He is also the current Chairman of BOI (Nigerian Bank of Industry).
- Arthur Eze
Net Worth: $5.7 Billion
Arthur Eze is an oil businessman, Philanthropist, and politician, best known for being the CEO of Atlas Oranto Petroleum.
The company, founded in 1991, with assets in Guinea, Gambia, and Liberia, is currently one of the largest Nigerian oil exploration and production groups.
Oil and gas is indeed a lucrative business sector, and it’s no surprise Arthur Eze has amassed a net worth of $5.7 billion.
- Femi Otedola
Net Worth: $5.9 Billion
When the Otedolas’ are mentioned, no doubt money comes to mind. Femi Otedola is a businessman involved in several sectors of the economy.
For example, he is the controlling shareholder of Forte Oil, an oil marketing and power generation company with more than 500 gas stations.
So one can say Femi Otedola makes his wealth from making wise oil and gas investment choices.
- Mike Adenuga
Net Worth: $7.9 Billion
Chief Michael Adeniyi Agbolade Ishola Adenuga Jr, known as Mike Adenuga, is a businessman and the second richest person in Nigeria.
He is the owner of Globacom, one of Nigeria’s second-largest telecom operators in Ghana and Benin. He also makes his money from Equitorial Trust Bank, where he owns stakes, and Conoil, an oil exploration firm.
As it stands, Mike Adenuga is currently the third richest man in the world, and the second richest man in Nigeria, with a net worth of $7.9 billion.
Read also: List Of The Top 20 Richest People in Africa
- Aliko Dangote
Net Worth: $12.1 Billion
Aliko Dangote has maintained the wealthiest person in Nigeria position since 2013.
He is, as it stands, also the richest man in Africa and among the top 200 richest persons in the world.
Dangote makes his money from his brand Dangote subsidiaries of the Dangote Group, which produces, essential, and export household items like sugar, flour, spaghetti, cement, among other brands.
He is the Chairman of Dangote Group, a well-known brand within and outside Nigeria.
Coming from a long line of entrepreneurs, Aliko Dangote is the great-grandson of Alhaji Alhassan Dantata, who was the richest man in West African in 1955.
Aliko Dangote seems to be maintaining the wealth trend; to date, his family is among the richest in Africa.