Nigeria is home to some of the wealthiest individuals in Africa, and their net worths continue to rise year after year. From business tycoons and politicians to entrepreneurs, these men have made a name for themselves as some of the most successful people in Nigeria. In this post, we’re going to take a deep dive into 6 of the most richest men in Nigeria, exploring their backgrounds, businesses, and what sets them apart from the rest. So get ready to be inspired by some serious wealth – let’s jump right in!
Aliko Dangote is a Nigerian businessman and the founder of the Dangote Group, an industrial conglomerate with interests in cement production, sugar refining, flour milling, salt packaging, and real estate. He is also the owner of the Dangote Cement Company. As of 2023, he has an estimated net worth of $14.1 billion, making him the richest man in Nigeria.
Dangote was born on April 10, 1957, in Kano State, Nigeria. He attended Alhaji Ahmadu Bello University and graduated with a degree in business studies in 1977. He then started his own business importing and selling commodities such as rice, sugar, and cement. In 1981, he established the Dangote Group with a focus on manufacturing food products and other consumer goods. The company later diversified into other industries such as telecommunications and oil and gas exploration.
Dangote has been active in philanthropy, donating money to various causes such as education, health care, and disaster relief. In 2015, he pledged to donate $1 billion to help fight poverty in Africa over the next 10 years.
Abdul Samad Rabiu
Abdul Samad Rabiu is a Nigerian business magnate and entrepreneur. He is the founder and chairman of BUA Group, a conglomerate with interests in manufacturing, infrastructure development, and agriculture. With an estimated net worth of $8.2 billion, he is ranked by Forbes as the second richest man in Nigeria.
Rabiu started his business career in the early 1980s, trading commodities such as rice and sugar. He later diversified into manufacturing, setting up a cement factory in 1988. The BUA Group was officially founded in 1990, and has since grown into a leading conglomerate with operations across Nigeria and West Africa.
The BUA Group has a significant presence in the Nigerian economy, with interests in sectors such as manufacturing, infrastructure development, agriculture, and mining.
Nigerian business tycoon Mike Adenuga is the third richest man in Nigeria with a net worth of $6. 1 billion as of 2023. Adenuga made his fortune in telecom and oil production. He is the founder and chairman of Globacom, a telecom operator with over 36 million subscribers. He also has interests in oil exploration and production through Conoil Producing, which operates six oilfields in the Niger Delta.
Adenuga was born into a poor family in Ibadan, Nigeria in 1953. His father was a schoolteacher and his mother was a trader. He started out selling firewood and soft drinks before going into business for himself. In 1976, he obtained a license to sell petroleum products from the Nigerian National Petroleum Corporation (NNPC). He then set up his own company, Conoil, which quickly became one of the largest importers of petroleum products in Nigeria.
Tony Elumelu is a Nigerian entrepreneur, economist, and philanthropist with a net worth of $1.98 billion. He is the founder of the Tony Elumelu Foundation, a pan-African entrepreneurship program. Elumelu was named one of “Africa’s 50 Most Powerful People” by Forbes magazine in 2013.
Elumelu was born in Jos, Nigeria. His father was a civil servant and his mother was a businesswoman. He attended Enugu State University, where he studied economics. After graduation, he worked in various banks in Nigeria before moving to London to study for an MBA at Greenwich University.
In 2010, Elumelu founded the Tony Elumelu Foundation, which provides training and mentorship for African entrepreneurs. The foundation has committed $100 million to the program over 10 years. In 2015, he was appointed as the United Nations Sustainable Development Goals Advocate by UN Secretary-General Ban Ki-moon.
Elumelu is also the chairman of Heirs Holdings, an investment company with interests in banking, energy, real estate, healthcare, agribusiness, and hospitality. Heirs Holdings has invested over $5 billion across Africa.
Femi Otedola is a Nigerian business magnate and philanthropist with a net worth of $1.8 billion. He is the chairman of Forte Oil PLC, a petroleum marketing company with operations in Nigeria and other African countries. He is also the founder of The Femi Otedola Foundation, a non-profit organisation that provides educational opportunities for young people in Nigeria.
Born into a wealthy family in Ibadan, Otedola started his career as a bank clerk before moving into the oil business. He quickly rose to prominence as an entrepreneur, and by the early 2000s he had become one of the richest men in Nigeria. His businesses have been hugely successful, and he has used his wealth to support various charitable causes.
Otedola has been active in politics, and was appointed as a Special Adviser to the Nigerian President on Petroleum Matters in 2006. He has also served on the boards of several companies, including National Oil Company of Nigeria and Niger Delta Development Commission.
Otedola is married to Nana Otedola, with whom he has three children.
Orji Uzor Kalu
Orji Uzor Kalu is a Nigerian businessman and politician who served as the governor of Abia State from May 29, 1999 to May 29, 2007. He is currently the chairman of SLOK Holding and the Daily Times Group. As of March 2019, he has an estimated net worth of $1.8 billion.
Kalu was born on April 21, 1960, in Ikwuano, Abia State. He attended Government College Umuahia and Hope Waddell Training Institute before moving to the United States to study political science at the University of Maiduguri. He later transferred to Eastern Kentucky University on a football scholarship, where he graduated with a Bachelor of Arts degree in 1984.
Kalu began his business career in 1986, when he founded Slok Airline. The airline eventually became one of the largest private airlines in Nigeria before it ceased operations in 2006. He also founded Intels Nigeria Limited, a maritime logistics company, in 1989.
In 1992, Kalu was elected to the House of Representatives as a representative for Aba North and Osisioma Ngwa constituencies. He was re-elected in 1995 and 1999. In 1998, he was appointed Chairman of the House Committee on Petroleum (Downstream). In 1999, he resigned from his position as a representative to run for governor of Abia State under the People’s Democratic Party (PDP)platform. He won the election and was sworn in on May 29, 1999.