There are so many successful businessmen and women in Nigeria as of today. In this article, we look at the top ten entrepreneurs in Nigeria currently who have made their marks within the business sector.
The names on this list built their business empire from scratch indicating that with hard work, nothing is impossible.
See also: Top Ten Richest Men In Nigeria
Aliko Dangote – $9.9 billion
Top on this list is Alhaji Aliko Dangote. He is Nigeria’s richest man and also doubles as the richest man in Africa. Alike Dangote was born on the 10th day of April 1957. He owns the Dangote Group and is the largest cement and sugar producer in Africa. His company operates in other African markets such as Benin, Ethiopia, Cameroon, South Africa, and Ghana among others.
The Dangote Group currently controls about 70% of the Nigerian sugar market and operates as the third-largest sugar refinery in the world and the largest in all of Africa.
He is set to delve into Nigeria’s oil industry when his refinery which is currently being built becomes functional. His net worth as of January 2019 is estimated to be 9.9 billion USD.
Mike Adenuga Jr. – $9.5 billion
Michael Adeniyi Adenuga, born on the 29th of April 1953 is a Nigerian billionaire businessman and the second richest man in Nigeria. He is also the second richest man in Africa according to the recently released Forbes list.
His net worth as of January 2019 is estimated to be 9.9 billion USD. Adenuga made his fortune from oil and telecom. His mobile phone network, Globacom, is currently the second largest operator in Nigeria, with over 37 million subscribers. His oil exploration outfit, Conoil Producing, currently operates 6 oil blocks in the Niger Delta.
Femi Otedola – $1.5 billion
Femi Otedola is 3rd on this list. The elite businessman was born on the 4th of November 1962. He is an entrepreneur, philanthropist, and chairman of Forte Oil PLC, an importer of fuel products in Nigeria.
He is the son of the former Governor of Lagos, Michael Otedola. He is also the founder of Zenon Petroleum and Gas Ltd, as well as a number of other businesses across shipping, real estate, and finance.
Recently, he invested in power generation as part of the liberalization of the sector in Nigeria. His current net worth is believed to be in the region of 1.5 billion USD.
Folorunso Alakija – $1.1 billion
Mrs. Folorunso AAlakija was born on the 15th of July 1951. She is a Nigerian billionaire businesswoman, the richest woman in Nigeria and one of the richest African women, and also one of the richest black women in the world.
In 2014, Folorunso Alakija temporarily unseated Oprah Winfrey as the richest woman of African descent in the world. She is the vice chair of Famfa Oil, a Nigerian oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset.
Famfa Oil’s partners include Chevron and Petrobras. She started off as a fashion designer and one of her customers include the wife of former Nigerian president Ibrahim Babangida. She is currently estimated to be worth 1.1 billion USD as of January 2019.
Abdul Samad Rabiu – $1.1 billion
Abdul Samad Isyaku Rabiu was born on the 4th of August 1960. He is a Nigerian businessman and the founder of BUA Group, a Nigerian conglomerate operating in sugar refining, cement production, real estate, logistics, and port operations.
In January 2016, the BUA Group agreed to sell its flour milling and pasta making businesses to Olam Group of Singapore for a whopping sum of $275 million. Rabiu set up his own business in 1988 with the land inherited from his father who himself was a businessman.
Rabiu went into rice importation, sugar, and edible oils as well as iron and steel rods. In 2016, Forbes estimated his net worth to be 1.1 billion USD.
Theophilus Danjuma – $0.75 billion
Lt. Gen Theophilus Danjuma was born on the 9th of December 1938. He is a former Nigerian defense minister and the founder of oil exploration company South Atlantic Petroleum (SAPETRO), which owns upstream assets in Nigeria and neighboring countries, Republic of Benin, the Central African Republic and Madagascar.
He also has an investment in real estate and a stake in Notore Chemical Industries, a manufacturer of urea fertilizer. He also has a stake in NALComet, one of the largest shipping companies in Nigeria. According to Forbes, his net worth in the year 2015 was estimated to be $0.75 billion.
Tony Elumelu – $0.7 billion
Tony Onyemaechi Elumelu was born on the 22nd of March 1963. He is a Nigerian economist, entrepreneur, and philanthropist. He is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and also the founder of The Tony Elumelu Foundation.
He came into the limelight in the year 1997 when he led a small group of investors to take over a small, floundering commercial bank in Lagos. In 2012, Tony Elumelu was recognized as one of Africa’s 20 Most Powerful People in 2012 by Forbes magazine. His net-worth in 2015 according to Forbes was estimated to be $0.7 billion.
Oba Otudeko – $0.55 billion
Oba Otudeko was born to a royal family in Oyo state on the 18th of August 1943. He is a Nigerian entrepreneur and founder/chairman of Honeywell Group and he also chairs FBN Holdings Plc.
His companies operate in the oil and gas, flour milling, real estate, and marine transportation industries. He is also the owner of oceanfront Radisson Blu in Lagos, Nigeria. He is the founder of Oba Otudeko Foundation. His net-worth in 2014 was put at 0.55 billion USD.
Jim Ovia – $0.55 billion
Jim James Ovia was born on the 4th of November 1951. He is a Nigerian businessman and founder of Zenith Bank, one of the largest commercial banks operating in Nigeria.
He is the chairman, board of directors of the Bank and the pioneer Group Managing Director / CEO. Zenith Bank is Nigeria’s largest and Africa’s 6th largest bank by Shareholders’ Funds.
Jim Ovia is the largest individual shareholder with a slightly more than 9% stake. He’s also into real estate and owns prime real estate across Nigeria.
He once owned mobile telecom operator Visafone which has since been acquired by MTN. According to Forbes magazine, his net worth in the year 2015 was estimated to be 0.55 billion USD.
Orji Uzor Kalu – $0.33 billion
Orji Uzor Kalu was born on the 21st day of April in the year 1960. He is the former governor of Abia state and is the chairman of SLOK Holding. He has other investments such as the Daily Sun and the New Telegraph newspapers.
His Slok Holding is a West African conglomerate with interests in shipping, banking, oil trading, manufacturing, as well as media.
He entered into business at age 19 after he was expelled from a Nigerian university for spearheading a series of student riots. His net-worth was put at 0.33 billion USD as of 2015 according to Forbes.
These are the top entrepreneurs dominating the business sector of Nigeria. Although there are some equally notable entrepreneurs such as Jimoh Ibrahim, Raymond Dokpesi, Sayyu Dantata who missed out on this list. They are equally prolific entrepreneurs too as well as many others out there.