Who are the richest men in Nigeria?
If you’re one of 480 people searching for the Richest Men in Nigeria on google (average monthly volume), I sincerely welcome you to this updated list of wealthiest billionaire in our dear country, Nigeria.
Nigeria is blessed with many billionaires, ranging from celebrities to entrepreneur and I hope this list will motivate you to put more efforts in whatever you’re doing to earn living in Nigeria.
The list of the richest people in Nigeria as aligned below is based on the known source of income of the respective individuals.
And, I didn’t cook this up.
I took this list from Forbes Magazine and this magazine is one among the top 3 ranking magazine in the world.
But one thing that amazes me is that, everything increases while the net worth decreases.
For instance, in the 2017 Forbes’s list of richest people in Nigeria, Aliko Dangote had $12.5 billion as net worth but in 2019, he had lost $2 billion.
Now Dangote has $10.5 billion but still maintaining the throne of the richest man in Nigeria and Africa. Meaning that Nigeria’s economy is affecting everybody including these rich men.
This list includes their names, company, age, net worth and their respective source of income.
Other richest men in Nigeria without a verified source of income are left out, irrespective of how influential they are.
Now here they are;
Top Richest Men in Nigeria, Net worth & Age
Aliko Dangote:
Net Worth – $10.5 Billion | Age: 61
Aliko Dangote is a business magnate and also Africa’s richest man. He’s the CEO and Chairman of Dangote Group.
He is known for his brand of cement – “Dangote Cement” which is the largest producer of cement in the continent of Africa. Operating in 10 African countries, Dangote Group produces 45.6 million metric tons of cement every year.
Dangote is also known for his exploits in the manufacturing of sugar, salts and flour.
Recently, Dangote has kicked off the construction of his own oil refinery, this refinery should compete with other top refinery when it is launched. These and many more has led Dangote to the top among richest men in Nigeria and also in Africa.
Here is what you need to remember about him;
- Aliko Dangote is the richest black person in the world
- Aliko Dangote is the richest man in Africa
- Alike Dangote is the richest man in Nigeria
- Aliko Dangote is the richest Hausa man
- Aliko Dangote’s age is currently 61
- Aliko Dangote’s net worth is $10.5 billion
Mike Adenuga:
Net Worth – $9.4 billion | Age: 65
Nigerian billionaire and Businessman Michael Adeniyi Agbolade Ishola Adenuga, is the second richest man in Nigeria and in Africa.
Mike Adenuga made his first million naira at the age of 26 while selling lace and soft drinks. With the assistance from his taxi driving, Mike Adenuga was able to bag an MBA degree from Pace University, New York.
He’s the founder of Globacom (popularly known as GLO) Nigeria which is the second largest telecommunication operator in Nigeria, with 43 million subscribers in Nigeria and branches across several African countries including Benin Republic and Ghana.
He is the chairman of the oil exploration firm – ConOil. Formerly known as Consolidated Oil Company, ConOil has 6 oil blocks in the Niger Delta region of Nigeria.
Here is what you need to remember about him;
- Mike Adenuga is the founder of Glo Nigeria
- Mike Adenuga is the second richest man in Nigeria
- Mike Adenuga is the chairman of conoil
- Mike Adenuga’s age is 65
- Mike Adenuga’s networth is currently $9.4 billion
- Mike Adenuga is the richest Yoruba man
Authur Eze:
Net Worth – $4 billion | Age: 59
Usually referred to as Prince Arthur Eze, Authur is a Nigerian businessman and philanthropist and also one of the richest men in Nigeria.
Arthur Eze is the founder of Atlas Oranto Petroleum. The company is a Pan-African company with 22 licenses in various African countries.
As part of the company’s cooperate social responsibility (CSR), Authur started the building of two primary schools worth $800,000 in two communities in South Sudan last year.
Here is what you need to remember about him;
- Arthur Eze is the richest Igbo man
- Arthur is the third richest men in Nigeria
- Arthur Eze is currently 59 years old
- Arthur Eze’s net worth is $4 billion
Cletus M Ibeto:
Net Worth – $3.7 billion | Age: 66
Here’s another star in the galaxy of rich men in Nigeria, Clement M Ibeto!
Clement M Ibeto is a Nigerian businesses man who hail in the industrial city of Nnewi, Anambra state, Nigeria.
He’s the head of Ibeto Group, known for its exploits in cement industry. The Ibeto Group led to the trading and manufacturing development in Nigeria under the leadership of Clement M Ibeto.
He also owns Ibeto Petrochemical Industry LTD. which he established in 1996. The company deals with the production of oil lubricants and other petroleum products for local and worldwide markets.
With a capacity of 60,000 metric tons located in Lagos, Nigeria; this makes it the largest liquid storage facility for petroleum products in Nigeria.
Here is what you need to remember about him;
- Clement M Ibeto is the second richest Igbo man
- Clement M Ibeto has the largest liquid storage facility for petroleum in Nigeria
- Clement M Ibeto net worth is $3.7 billion
5. Benedict Peters:
Net Worth – $2.7 billion | Age: 52
The youngest in our list, founder of Aiteo Group, Benedict Peters is the fifth richest man in Nigeria.
His firm Aiteo Group, is the biggest indigenous oil producing company in Nigeria based on output.
Aiteo Group has the one of the biggest petroleum tank farms in the country with over 250 million litres and a landmass of over 100,000 square meters.
Aiteo Group signed a five-year partnership deal with the Nigeria Football Federation (NFF) worth about N2.9 billion in 2017. Since then, Aiteo have paid the salaries of all NFF coaches including Super Eagle’s head coach, Gernot Rohr.
Here is what you need to remember about him;
- Benedict Peters is the youngest richest man in Nigeria’s list of billionaire in US dollars
- Benedict Peters owned Aiteo Group
- Benedict Peters is 52 years old
- Benedict Peters Net worth is $2.7 billion
6. Abdulsamad Rabiu:
Net Worth – $1.6 billion | Age: 58
Abdulsamad Rabiu, one of the richest men in Nigeria is the founder of BUA Group, a top company that deals with cement production, sugar refining and real estate.
His firm is also into importation and supply of steel, billets and of iron ores.
As a philanthropist, Abdulsamad Rabiu has built a 7,000 sq meter paediatric ward at the Aminu Kano Teaching Hospital.
He’s ranked as the 16th richest man in Africa and 1425 on the world richest men list according to Forbes.
Here is what you need to remember about him;
- Abdulsamad Rabiu net worth is $1.6 billion
- He is the founder of BUA Group
- He’s the 16th richest man in Africa
7. Femi Otedola:
Net Worth – $2.3 billion | Age: 56
Nigerian philanthropist and businessman Femi Otedola is the current Chairman of Forte Oil and also the founder of the oil and gas firm – Zenon Petroleum and Gas LTD.
He’s a business mogul in real estate, shipping and financial sector.
Otedola has always had interest in business right from his childhood days where he would groom the nails of his parent’s visitor and was paid for his service. This enthusiastic business passion has led him to becoming one of the richest men in Nigeria.
He has helped underprivileged students to gain access to tertiary education, with the Michael Otedola Scholarship Scheme.
Since the inception of Micheal Otedola Scholarship Scheme in 1985, it has empowered more than a thousand students in Lagos State, Nigeria.
Also, Femi Otedola is the father of famous and wealthy Africa’s female Disc Jockey, “DJ Cuppy” (Who is originally Florence Otedola).
Here is what you need to remember about him;
- Femi otedola is DJ Cuppy’s father
- He is the chairman of Forte Oil and Gas
- He is the founder of Zenon petroleum
8. Tony Elumelu:
Net Worth – $1.4 billion | Age: 55
Anthony Onyemaechi Elumelu is a Nigerian economist, an entrepreneur and also a philanthropist.
He’s the current chairman of United Bank for Africa (UBA), Hiers Holding and Transcorp.
Tony Elumelu successfully inspired the acquisition of UBA in 2005 and since then the company have been transformed to a Pan-African bank with over 7 million customers across 19 African nations.
In 2010, Tony Elumelu founded the Tony Elumelu Foundation which empowered many entrepreneurs and start-ups. The aim of the foundation is to improve Africa’s economic development by improving the competitiveness in the private sector economy.
Here is what you need to remember about him;
- Tony Elumelu is the chairman of United Bank for Africa (UBA)
- He’s the chairman of Heirs Holding
- He founded Tolu Elumelu Foundation (TEF) to help entrepreneurs
9. Folorunsho Alakija:
Net Worth – $1.1 billion | Age: 68
The only woman on our list, Folorunsho Alakija is a Nigerian billionaire and business woman.
Folorunso Alakija is the richest woman in Nigeria and Africa.
She is the vice chairman of FAMFA Oil, an oil exploration firm operating in Nigeria. FAMFA Oil has a share in one of Nigeria’s offshore assets; the Agbami Oilfield.
She is the managing director of Rose Of Sharon Group, a conglomerate of Rose Of Sharon Print and Promotions LTD. and Digital Reality Prints LTD.
She currently runs a foundation known as the Rose Of Sharon Foundation which assist widows and orphans with the provision of business grants and scholarships.
Here is what you need to remember about her;
- Folorunso Alakija is the richest woman in Nigeria and Africa
10. Jim Ovia:
Net Worth – $1 billion | Age: 67
Jim Ovia makes our list of richest men in Nigeria with a net worth of about $1 billion.
Jim Ovia is the founder of Zenith Bank Nigeria PLC., which is one of the biggest commercial banks in Nigeria and Africa.
In the year 1977, Jim Ovia was awarded a B.Sc degree in Business Administration from Southern University, Baton Rouge, Louisiana USA.
He later bagged a master degree in the same field from University of Louisiana, Monroe, Louisiana USA in 1979. He’s also into various philanthropic activities.
Here is what you need to remember about Jim Ovia;
- He is the founder of Zenith Bank Nigeria Plc.
Wrapping Up the list of Richest Men in Nigeria
This is our list of the richest men in Nigeria.
But you know what?
Many of these billionaires are on this list not because they are birthed and brought up with silvers and golds. But, they build their wealth from nothing and if they can do it, you can also do it and even do it more than them.
There are tons of business ideas in Nigeria and different ways you can actually make money online without any legal issues.
Just stop dreaming and start doing something today!
Do you have any comment or addition to this list of richest men in Nigeria? Kindly let me know if you have any modification below. Thanks
