Top 10 Richest Men In Nigeria [June 2023 ]

Nigeria, the most populous country in Africa, is home to some of the wealthiest individuals on the continent. These individuals have made significant contributions to the Nigerian economy through their various business ventures, creating jobs and sustaining numerous families. In this article, we will explore the top 10 richest men in Nigeria, their net worth, and the industries that have propelled them to such great heights.

1. Aliko Dangote

Net Worth: $13.9 Billion

Aliko Dangote is not only the richest man in Nigeria but also the richest black man in the whole world. Born on April 10, 1957, in Kano State, Dangote started his business journey with seed money from his uncle, Sanusi Dantata. He ventured into the production of commodities such as sugar, flour, salt, and cement, eventually establishing the Dangote Group. Today, the group is involved in manufacturing, oil, and construction, making Dangote a prominent figure in Nigeria’s industrial landscape.

2. Abdulsamad Rabiu

Net Worth: $7 Billion

Abdulsamad Rabiu, born on August 4, 1960, in Kano State, is a leading industrialist significant investments in the Nigerian economy. He is the chairman of the BUA Group, a conglomerate with interests in cement, flour, pasta, sugar, edible oils, rice, iron/steel, and more. Rabiu inherited his father’s company, Khalifah Isyaku Rabiu, and has since expanded it into a major player in the Nigerian market.

3. Mike Adenuga

Net Worth: $6.7 Billion

Mike Adenuga, born on April 29, 1953, in Oyo State, is a self-made billionaire with interests in oil, and communications. He started his career by selling fabrics and soft drinks, eventually venturing into the oil industry with the establishment of his oil company, Conoil. Adenuga also founded Globacom, Nigeria’s second-largest telecommunications company, which has expanded its operations to other West African countries.

4. Femi Otedola

Net Worth: $5.9 Billion

Femi Otedola, born on November 4, 1962, in Ibadan, Oyo State, is a prominent Nigerian businessman with interests in oil and banking. He is best known for his takeover of African Petroleum (AP), which he later renamed Forte Oil. Otedola has since shifted his focus to banking and energy, becoming the primary shareholder and de facto chairman of First Bank of Nigeria PLC and investing heavily in the energy sector.

5. Arthur Eze

Net Worth: $5.7 Billion

Arthur Eze, born on November 27, 1948, in Ukpo Town, Anambra State, is the founder and chairman of Atlas Oranto Oil Company, the largest indigenous oil company in Africa. Eze has strategically avoided the Nigerian market, focusing on investments in countries like Sudan, Equatorial Guinea, South Sudan, Senegal, Uganda, Zambia, and Sao Tome and Principe. He is also a well-known philanthropist, donating to various causes in Nigeria.

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6. Orji Uzor Kalu

Net Worth: $3.7 Billion

Orji Uzor Kalu, born on April 21, 1960, in Abia State, is a businessman with diversified investments. He started his career in procurement, supplying tools to the Nigerian service. Kalu also innovated Slok Holding, an empire with interests in oil painting, shipping, manufacturing, air transport, and media. He served as the governor of Abia State from 1999 to 2007 and is presently an assemblyman representing Abia North.

7. Emeka Offor

Net Worth: $2.9 Billion

Emeka Offor, born on February 10, 1957, in Kafanchan, Kaduna, is the chairman of Chrome Group, a company with interests in oil and gas, energy generation and distribution, broadcasting, and media. Offor owns several radio stations and advertising agencies, contributing to his vast wealth.

8. Folorunsho Alakija

Net Worth: $1 Billion

Folorunsho Alakija, born on July 15, 1951, in Ikorodu, Lagos State, is the richest woman in Nigeria and one of the wealthiest citizens in the country. She started her career in fashion, establishing a fashion house that catered to Nigeria’s elite. Alakija later co-founded Famfa Oil, an oil exploration company with several productive oil blocks in Nigeria, partnering with companies like Chevron and Petrobras for distribution.

9. Pascal Uzoma Dozie

Net Worth: $1 Billion

Pascal Dozie, born in 1939 in Egbu village, Owerri State, is a career banker and entrepreneur. He founded Diamond Bank, which has since been acquired by Access Bank Nigeria. Dozie is also on the board of MTN and serves as the chairman of Sparkle, a financial services company in Nigeria.

10. Jim Ovia

Net Worth: $980 Million

Jim James Ovia, born on November 4, 1951, in Agbor, Delta, is one of the pioneers of the Nigerian banking sector. He founded Zenith Bank in 1990, which has grown to become the largest bank in Nigeria by value and branch network. Ovia also founded Visafone, a mobile communications company later acquired by MTN, and is a notable philanthropist in the Nigerian education sector.

In conclusion, the top 10 richest men in Nigeria come from diverse backgrounds and have made their fortunes in various industries, including oil, manufacturing, banking, and media. Their success stories serve as an inspiration to aspiring entrepreneurs and a testament to the vast opportunities available in Nigeria’s thriving economy.

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