There is a saying that when it rains, it pours. Meet the 21 richest men in Nigeria that have made a mark not only in Nigeria but also the continental and globally. Its definitely a money rain and its pouring because money sure makes the world go round.
21) Oba Otudeko
Net worth: $550 million (Forbes)
Industry: Diversified
Obafoluke Otudeko is a chattered accountant, chattered banker and a chattered secretary by profession. He is estimated to be worth $550 million by Forbes and about $1 billion by Ventures Africa. he has a wide spread of business interests both locally and internationally. He has sat and is still sitting on the boards of various companies such as Honeywell Group, Airtel Nigeria, Fanmilk, Ecobank, Firstbank and numerous others. The Honeywell Group is a business conglomerate which spreads across oil and gas, flour mills, real estate and marine transportation. He also owns minority stakes in both First and Eco Banks.
20. Hakeem Belo-Osagie
Net Worth: $600 Million
Industry: Oil and Gas/Telecoms
Hakeem Bello Osagie is a Harvard educated petroleum economist and the chairman of Etisalat. Etisalat is the forth largest telecoms service provider in Nigeria with over 18 million subscribers. His net worth as estimated by Forbes is about $600 million. He is a philanthropist who regularly makes contributions to the African Leadership Academy based in Johannesburg in South Africa. He is also an Oxford University M.A holder.
19. Tunde Folawiyo
Net Worth: $650 Million
Industry: Oil and Gas/Telecoms
Tunde Folawiyo, a staunch business man is the managing director of Yinka Folawiyo Group, a conglomerate founded by his father, Wahab Folawiyo, with interests in shipping, oil and gas, real estate, agriculture and engineering. The company’s oil exploration firm owns a 60% interest in an oil block that contains the Aje offshore field. Other interest include owning minority shares in telecommunication giants, MTN Nigeria, and Access Bank.
18. Mohammed Indimi
Net Worth: $670 Million
Industry: Oil and Gas/Self-made
Mohammed Indimi is the owner of a privately owned Nigerian oil exploration and production company, Oriental Energy Resources, where he serves as chairman with six of his children serving on the board. The company owns three major offshore assets including OML 115, Ebok Field (OML 67) and Okwok Field (OML 67).
17. Abdulsamad Rabiu
Net Worth: $700 million
Industry: Consumer goods
This prominent Nigerian business man was born in Kano State in the year 1928 to a business oriented family. His major line of business include trading in commodities such as sugar, rice and vegetable oil. he is currently the chairman of BUA Group which is also involved in sugar refining, flour mills and processing vegetable oil. he is estimated to be worth $700 million by Forbes and $1.5 billion by ventures Africa.
16. Femi Otedola
Net Worth: $900 (Forbes)
Industry: Oil and Gas
Femi Otedola is a controlling shareholder in Forte Oil with about 78% stake. The company owns gas/petrol stations and fuel storage depots and manufactures its own line of engine oil. Forte said its shares rose in 2014 due to the company’s diversification into power generation and distribution.
15. Micheal Ibru
Net Worth: $1.1 Billion (Ventures Africa)
Industry: Diversified
He is the head of Ibru organisation, one of the largest conglomerates in Nigeria. He is one of the nation’s foremost industrialists. He has over 13,000 employees due to his organisation’s diverse interests such as media publishing, Jetties, oil and gas, hotels, fishing, poultry, aviation and shipping.
14. O.B Lulu Briggs
Net Worth: $500 (Forbes), $1.1 Billion (Ventures Africa)
Industry: Oil and Gas
This 83 year old is a well respected elder statesman, the chairman and founder of Moni Pulo Ltd, the company majors in oil drilling, exploration and production. Some of the company’s oil blocs are located in Abia, AKwa-Ibom and Ondo States. The major project has the capacity to produce up to 10,000 barrels of oil per day.
13. Emmanuel Ojei
Net Worth: $1.2 Billion (Ventures Africa)
Industry: Diversified
He serves as the chairman of Nuel Ojei Holding Limited. Dr. Ojei heads a worldwide group of companies whose scope of activities to include construction, banking, importation, oil and sales and services of motor vehicles. He is a renowned industrialist and investor.
12. Bode Akindele
Net Worth: $1.2 Billion (Ventures Africa)
Industry: Diversified
He is the chairman of Mondola Group, one of the largest Nigerian-owned conglomerates which interests spread across agriculture, beverages, food processing, maritime, real estate and transportation.
11. Dr. ABC Orjiakor
Net Worth: $1.2 billion (Ventures Africa)
Industry: Oil and Gas
He is an orthopedic and trauma surgeon turned oil and gas mogul is the chairman co founder of SEPLAT, one of Nigeria’s Largest petroleum development company. The company made history as the first indigenous Nigerian company to make the London Stock Exchange list. SEPLAT’s dual listing on both the Nigerian and London stock exchange raised the company’s worth up to $1.9 billion. The Initial Public Offer also raised the NSE market capitalisation by 2.23%. SEPLAT was named a Global Growth Company in 2014 by the World Economic Forum. Dr. Orjiakor also has interests in construction, pharmaceuticals, shipping and real estate.
10. Igho Sanomi
Net Worth: $1.3 Billion (Ventures Africa)
Industry: Oil and Gas
Igho Sanomi is Nigeria’s youngest billionaire and founder and CEO of Taleveras Group, a Nigerian energy, trading, power and construction conglomerate with annual returns of $3.4 billion. He was profiled by Forbes in 2007 as ‘one of the new generation of young professionals in Nigeria who are establishing themselves as young leaders in the private sector business community’.
9. Orji Uzor Kalu
Net Worth: $1 Billion (Forbes)
Industry: Oil and Gas
Orji Uzor Kalu is a two time governor of Abia State, he is the chairman of SLOK Holding, Daily Sun and The Telegraph newspapers in Nigeria. SLOK has interests ranging from shipping, banking, oil manufacturing to the media. He is the chairman of First International Bank Limited. The bank operates through out the Gambia.
8. Benedict Peters
Net Worth: $2.7 Billion
Industry: Oil and Gas
He is the founder and vice chairman of Aiteo Group, He is listed as the 17th richest man in Africa. He cut his teeth in the oil and gas industry working with the younger brother of Aliko Dangote, Sanyyu Dantata and with Wale Tinubu, Mofe Boyo and Onajite Okoloko at Ocean and Oil (now Oando).
7. Jim Ovia
Net Worth: $850 (Forbes) $2.3 Billion (Ventures Africa)
Industry: Telecoms/Banking
He is the founder of Zenith Bank which is the second largest company in Nigeria. The bank is headquartered in Victoria Island Lagos State, Nigeria. The bank has branches in Ghana, Zambia, Sierra Leone, South Africa and the UK. He owns numerous properties through out Nigeria.
6. Tony Olumelu
Net Worth: $1 billion (Forbes), $1.6 (Ventures Africa)
Industry: Investments
As one of the most outstanding entrepreneurs in Africa and as such he sits on many boards. He is the Chief Executive and also the group managing director of the United Bank of Africa (UBA), a director at Standard Global Services Limited and ADIC. He is also the chairman of Standard Aliance Insurance, Verticom WIreless, STB capital markets as well as Flame Petroleum and Gas Limited. He has a variety of investments which include controlling interests in Transcorp, significant stake in UBA and an extensive portfolio of real estate across Nigeria.
5. Theophilus Danjuma
Net Worth: $1.1 billion (Forbes), $1.8 billion (Ventures Africa)
Industry: Oil and Gas
He started off as a soldier with Nigerian Army later venturing into politics serving as the Minister of Defense under the Olusegun Obasanjo administration. He is the chairman of SAPETRO (South Atlantic Petroleum), a Nigerian upstream oil and gas exploration and production company.
4. Cletus M. Ibeto
Net Worth: $3.7 billion (Ventures Africa)
Industry: Diversified
He is an Nnewi born businessman. He is the head of Ibeto Group, the largest conglomerate from the entrepreneurial city of Nnewi. His interests range from automobile parts, cement production, energy, petrochemical, real estate amongst others. He owns several hotels across Nigeria under the Ibeto Hospitality brand.
3. Prince Arthur Eze
Net Worth: $5.7 billion (Ventures Africa)
Industry: Oil and Gas
Arthur Eze is the founder and currently serving chairman of Atlas Petroleum International Limited. The company is a West Africa based oil exploration company. Its the largest holder of oil exploration blocs with at least 38 oil acreage. Atlas Oranto Petroleum also owns interests in several acreages across the Gulf of Guinea in countries which includes Nigeria, Ghana, Liberia, Ivory Coast, Mali, Senegal, Republic of Benin, Gambia and Equatorial Guinea.
2. Mike Adenuga
Net Worth: $4.7 billion (Forbes) $8 billion (Ventures Africa)
Industry: Oil and Gas/Telecoms
He is the second richest man in Nigeria and the 5th richest man in Africa. He amassed his wealth from both the telecom and oil and gas industries. He is the owner of Nigeria’s second largest mobile network company with over 24 million subscribers and also operates in Benin Republic.
1. Aliko Dangote
Net Worth: $21.6 billion (Forbes), $25.7 (Ventures Africa)
Industry: Cement/Sugar/Flour
He is the richest man in Africa and the 67th richest man in the world according to Forbes. He is the chairman and CEO of the Dangote Group of Companies. The Company has interest in petroleum, steel, mining and cement. Its operations are spread out in countries such as Cameroon, Zambia, Togo, Ghana, South Africa and Benin.
