Who is The Richest Man in Nigeria Today?

Who is The Richest Man in Nigeria Today?

Who are the Nigerians billionaires and how did they amass their wealth? What are the business success secrets of successful entrepreneurs in Nigeria? What does it take to become a billionaire in Nigeria? If the answer to any of these questions interests you, then please read on.


Today, I will be compiling a list of Nigerian billionaires and top richest people in Nigeria but please this list will be restricted to entrepreneurs only. Politicians and individuals whose source of wealth cannot be traced are excluded from this list.

Most people have asked why so few Nigerians made the Forbes list of richest people in the world. So far, only Aliko Dangote and Femi Otedola have made the Forbes list of world billionaires. Well, the answer to that question is this: Forbes estimates the wealth of individuals and rank them based on the value of shares they have in quoted companies (companies listed on the stock exchange) and most of the richest people in Nigeria prefer to run their businesses privately. That’s why they don’t make the Forbes list of richest people in the world.

The criteria for coming up with this list is this

Most of you may be wondering the criteria or benchmark on which I compiled this list of the richest people in Nigeria. Well, I compiled this list based on the following criteria:

  1. By the value of their shares held in quoted companies.
  2. The size and market share of their companies
  3. The number of companies they own and its assumed value
  4. The market value of their company’s brand
  5. The impact of their companies on the Nigerian economy

I compiled this list of the richest people in Nigeria and highlighted the secret to their success because I believe we can learn a lot from them. Nigeria as a country has been branded all sorts of names and a lot has been said about Nigeria; both positive and negative but I am proud that some individuals stood tall to tell the world that we have got potentials.

Despite the harsh terrain and business challenges involved with starting a business in Nigeria; the successful entrepreneurs listed below held their ground and fought their way to the top. In a country with a population of over 150 million inhabitants and millions of businesses; these 20 entrepreneurs diligently carved their names in the sands of time.

Instead of boring you with their success stories; I would rather extract the vital lessons learned from the life of these billionaires. If you are ready to learn, then below is a list of the Nigerian Billionaires (entrepreneurs) and the top richest people in Nigeria.

Nigerian Billionaires and top 20 Richest People (Entrepreneurs) in Nigeria

  1. Alhaji Aliko Dangote – founder of Dangote Group and Richest black man in the world
  2. Mike Adenuga – Conoil, Equatorial Trust Bank, Globacom
  3. Femi Otedola –  ZENON Oil and Gas
  4. Orji Uzor Kalu –  Slok Group
  5. Cosmos Maduka –  Coscharis Group
  6. Jimoh Ibrahim –  Nicon Insurance, Global Fleet
  7. Jim Ovia – Zenith Bank, Visafone
  8. Pascal Dozie –  MTN Nigeria, Diamond Bank
  9. Oba Otudeko –  Honeywell Group Nigeria
  10. Alhaji Sayyu Dantata –  MRS Group
  11. Umaru Abdul Mutallab – former Chairman First Bank Plc, Mutallab Group
  12. Prince Samuel Adedoyin – Doyin Group
  13. Dele Fajemirokun –  Chairman Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards, etc.
  14. Chief Cletus Ibeto –  Ibeto Group
  15. Raymond Dokpesi –  Daar Communication, AIT,
  16. Tony Ezenna –  Orange Group
  17. Chief Molade Okoya Thomas –  Chairman CFAO Nig and other six french companies
  18. Ifeanyi Ubah –  Capital oil and gas
  19. Leo Stan Ekeh – Zinox
  20. Fola Adeola –  GTBank
  21. Chief Ade Ojo – Elizade Motors Nig LTD, Distributor of Toyota cars

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