Top 5 richest men in Nigeria

Nigeria may be a developing country but that doesn’t mean that there are no bright minded and successful individuals in the country. Below are some of the richest men in Nigeria and some of them are even considered rich in the whole of Africa.

Aliko Dangote


Aliko Dangote was born in the month of April, 1957 in Kano State, Nigeria. He is the CEO and chairman of Dangote Group which so happens to be a multinational corporation that is into flour, sugar, cement, telecommunications, noodles and oil and gas. Aliko Dangote was born into a very rich family. His great grandfather, Alhaji Alhassan Dantata was the richest man in Africa in his time. Dangote worked hard to be very wealthy ever since he was young.

During his days in primary school, Dangote was said to sell candy to other students in the school for profit. He is presently the richest Nigerian, and the wealthiest black man in the world. His business operates in countries such as Togo, Zambia, Tanzania, and more.

He is the richest Nigerian with a net worth of $12.5 Billion.

Mike Adenuga

Mike Adenuga was born in April, 1953 in Ibadan, Oyo State, Nigeria. His family was middle class and he took on the responsibility of funding his education in New York, this he did by combining his school with cab driving.

With a lot of perseverance and hardwork, today, he is the CEO and founding father of Globacom (a Nigerian Telecommunications company). Also, he is a major owner of shares in CONOIL, which so happens to be an oil and gas company and he used to be a major share owner of the former Equitorial Trust Bank.

He lives a very reserved life in the tranquil and secluded confines of Nigeria’s most expensive neighborhood Banana Island, Lagos, Nigeria.

Being a man who tries to escape media attention, he lives a private kind of life in the serene and quiet precinct of Banana Island in Lagos, Nigeria (the most luxurious vicinity in Nigeria).

He is the second richest Nigerian with a net worth of $5.8 Billion.

Femi Otedola

Femi Otedola was born in November, 1962 in Ibadan, Nigeria. His father was Sir. Michael Otedola, who was the former governor of Lagos State between 1992 and 1993. In the 1980’s, Femi Otedola ventured into the trade of petroleum products as well as the marketing of the printing press owned by his family.

Otedola is the current chairperson of Forte Oil, the CEO of Seaforce Shipping Company Ltd, founder of Zenon Oil and Gas Ltd, owner of Swift Insurance and he was once the chairman of Transcorp Hilton Hotel in Abuja. He also invests in real estate and in the generation of power.

As at 2009, Femi Otedola was listed in the Forbes Dollars-Denominated Billionaires as the second Nigerian after Dangote.

He is the third richest Nigerian with a net worth of $1.8 Billion.

Theophilius Danjuma


Theophilus Yakubu Danjuma was born in the month of December, 1938 in Takum, Taraba State, Nigeria. He dropped out of the Ahmadu Bello University, Zaria, Kaduna State, Nigeria to join the Nigerian Army in the year 1960. In less than 3 years, Danjuma became a captain and four years later, he became a Lieutenant colonel. After he retired from the Nigerian Army in the year 1979, he established a shipping company with the name, Nigeria America Line. Six years later (1985), he established COMET Shipping Agencies Nig. Ltd.

In 1995 he delved into the oil industry and founded the South Atlantic Petroleum Limited.

As at 1995, he ventured into the petroleum business where he established the South Atlantic Petroleum Limited. He became the chairman of Ntel, a telecommunications company that started the 4G/LTE network in Nigeria in 2016. He also runs the TY DANJUMA FOUNDATION.

His net worth is $1.7 Billion.

Abdulsamad Isyaku Rabiu


Abdulsamad Isyaku Rabiu was born in 1928 in Kano State, Nigeria to a family whose religion was Islam. As a result, he was brought up under the doctrines of Islam especially as his father was an Islamic scholar. He became an Islamic scholar himself and while he was teaching, he established Rabiu and Sons group in the early part of the 1950’s. Rabiu and Sons group was into the trade of sewing machines, bicycles, and religious equipments. Later, the company engaged in the manufacture of handbags and suitcases.

Sometime later, he founded BUA group of companies that thrives in the production of cement. Currently, he is also into real estate, sugar processing, textile production and sales of motor vehicle spare parts.

His net worth is $1.5 Billion


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