Do you know who the top 10 richest men in Nigeria are? In this post, you’re going to read about the Nigerian richest men: their net worth, their investment and businesses.
But before anything, first, let’s have a quick look at the sectors of the economy the richest men usually engage in.
Businesses of Most Nigerian Richest Men
One thing to understand about rich men is that they’re up-to-date with the right information. In fact, that is probably what separates them from others. They keep abreast of what works best, the latest techniques, smartest plans and ventures.
This is why they don’t engage in just any business. They are strategic and only go for the best.
Long story short, the wealthy guys in Nigeria and also elsewhere are usually found taking huge risks. They engage in businesses and activities that bring high returns. Here are the 7 business sectors most rich men invest in:
- Finance and Investments
- Fashion and retail
- Real Estate
- Food and Beverages
- Health care
Now, let’s delve into the main focus of this article: the top 10 richest men in Nigeria.
The Top 10 Richest Men In Nigeria
1. Aliko Dangote
Net worth: $17.3 billion
Aliko Dangote is the richest man in Nigeria. He is also Africa’s richest man. He owns and controls everything in the Dangote Plc’s, from cement to flour, sugar, and salt. He’s the largest cement producer in the continent, with over 45.6 million metric tons produced yearly. That’s huge, isn’t it?
He’s a top capitalist and an employer of labour. Through his companies, thousands of jobless Nigerians have been employed.
Dangote makes his money from processed agricultural products, real estates, telecommunications and more. With these, he successfully tops our list of the top ten richest men in Nigeria.
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2. Mike Adenuga
Net worth: $4.5 billion
Mike Adenuga heaps his wealth and income from telecommunications and oil production. The popular Globacom mobile network we know was one of Mike’s creations. Imagine a whopping 43 million Nigerian subscribers only for Glo services!
He also owns Conoil, an oil company with 6 oil blocks in the Niger Delta. He began earning his millions from 26 years old. Then, he sold lace materials and distributed soft drinks.
3. Femi Otedola
Net worth: $3.6 billion
Femi Otedola is the CEO of the Xenon Petroleum Oil and Gas. He’s an entrepreneur who has the nation’s interest at heart. In 2019, he gave a mouth-watering sum of 5 billion naira to the less privileged in the north.
As a philanthropist, he contributed $6 million to a storey building project at Augustine University in Epe, Lagos. He had footed medical bills of celebrities threatened by deadly sicknesses.
He was the former chairman of forte oil till he sold it in 2019. He earns his returns basically from oil and gas and Nigerian real estates.
4. Tony Elumelu
Net worth: $2 billion
Tony Elumelu is popular for his cheerfulness and willingness to give. He founded the Tony Elumelu Foundation to empower upcoming entrepreneurs.
Tony owns the Transcorp and Heir Holdings which invests in energy, financial services, real estates, agricultural produce, and health sectors. He was a former chairman of the United Bank for Africa (UBA). He had earned the title of Commander of the Order of Niger (CON).
As one of the top 10 richest men in Nigeria, he has positively affected many lives with his wealth.
5. Theophilus Danjuma
Net worth: $1.3 billion
Fully named Theophilus Yakubu Danjuma, the Nigerian politician is one of the top 10 richest men in Nigeria. He’s an ex-soldier, a businessman and a philanthropist.
He had been awarded the Grand Commander of the Order of the Niger (GCON), Forces Service Star (FSS), and PSS. He was appointed the Chief of Army Staff from July 1975 to October 1979. He served as Defense Minister under Olusegun Obasanjo’s administration. Currently, he is the chairman of the South Atlantic petroleum.
6. Orji Uzor Kalu
Net worth: $950 million
Orji Uzor Kalu was once the governor of Abia State, Nigeria. At 33, he managed First International Bank Limited. He served Borno, with the water corporations and worked as chairman for the Cooperative and Commerce Bank Limited.
He owned News Telegraph, as well as The Sun. The printing site for his newspaper was established in Ikeja, Lagos State. The Daily Sun soon had the highest sales record in Nigeria. That was how he made his way through to being one of the top 10 richest men in Nigeria.
Today, he is the chairman of SLOK Holding. SLOK Holding provides services around Finance, Banking and Finance, Manufacturing, Trading, Tourism, Insurance, Media and Publishing, Oil and Gas.
7. Jim Ovia
Net worth: $870 million
If you know Zenith Bank, one of the biggest commercial banks in Nigeria, Jim Ovia founded it. He is the bank chairman with more than 9% stake.
Jim owns a mobile telecom operator (Visafone), which has 3 million subscribers. He also has prime real estates across Nigeria. From all of these, Jim generated his wealth, and he makes the 7th on our list of the top 10 richest men in Nigeria.
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8. Abdulsalam Rabiu
Net worth: $750 million
Abdulsalam Rabiu founded the BUA Group, a group of companies that produce cement, refine sugar and deal in real estate.
Rabiu, as the son of a notable businessman, inherited land from his father. He came in 1998 with his business initiative to import steel, chemicals and iron. This is was how he got his big break.
9. Mohammed Indimi
Net worth: $690 million
Oriental Energy Resources was founded in 1990 by Mohammed Indimi. It’s a private company which explores and produces oil in Nigeria. He leads as chairman and highest shareholder in the company.
Right now, he’s got three projects offshore Niger Delta region, Nigeria. Six out of his eight children serve with him in the company. He makes his wealth and income from the proceeds of his oil company. For this reason, Muhammad Indimi found his way into our prestigious list of the top 10 richest men in Nigeria.
10. Oba Otudeko
Net worth: $610 million
Fully named Ayoola Obafoluke Otudeko, the rich Nigerian is an entrepreneur, investor, and a philanthropist.
He’s the chairman of the Honeywell Group. The group runs these 7 companies:
- Honeywell Flour Mills Plc
- HOGL Energy Ltd
- Pivot Energy Company Ltd (PECL)
- Uraga Real Estate Ltd
- Anchorage Leisures Ltd
- Pavilion Technology Ltd
- Huston Power Ltd
Considering all these notable companies under him, it is not surprising that he made it into our prestigious list of the top 10 richest men in Nigeria.
The richest men in Nigeria nay the world have one thing in common: they are often business moguls who aren’t afraid to take big risks. With this information about the businesses, investments and notable activities of the top 10 richest men in Nigeria given above, we hope you will find some inspiration and be better informed about the who is who in the Nigerian money world.
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