Top Ten Richest Men In Nigeria

Aliko Dangote

Nigeria is a country that is home to many wealthy individuals. Interestingly, the richest man in Africa is a Nigerian. But in this list, someone fell from 3rd to 6th, who knows what happened.

In this post, we’ll take a look at the top ten richest men in the country.

Aliko Dangote

Aliko Dangote, with a net worth of over 10.5 billion USD. He is Africa’s richest man, founded and chairs Dangote Cement, the continent’s largest cement producer. He owns nearly 88% of publicly-traded Dangote Cement through a holding company.

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Dangote Cement produces 44 million metric tons annually and plans to increase its output by 33% by 2020. Dangote also owns stakes in publicly-traded salt, sugar, and flour manufacturing companies.

Mike Adenuga

Adenuga, Nigeria’s second richest man, with a net worth of over 9.5 billion USD, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the third largest operator in Nigeria, with 43 million subscribers.

His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver. He made his first million at age 26 selling lace and distributing soft drinks

Arthur Eze

Arthur Eze is a Nigerian businessman and philanthropist reputed to be one of the wealthiest men in Africa with a net worth of over 5.8 billion USD. He is the founder and Chairman of Atlas Oranto Petroleum, which has assets in Nigeria, Liberia, Guinea,Gambia, and the UK.

In 1970, Eze attended secondary school in Nkwere, Nigeria. He studied chemical and mechanical engineering at California State University, Long Beach from 1974 to 1978.

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Cletus Ibeto

Cletus Ibeto is a Nigerian entrepreneur, manufacturer, and philanthropist with a net worth of over 3.7 billion USD. He is the founder and Chairman of Ibeto Group, the largest conglomerate in the Eastern part of Nigeria.

His humanitarian gestures have lifted thousands of people from poverty and his success story is truly that of from grass to grace. Cletus Ibeto was born on the 6th of November, 1952 in Nnewi city of Anambra State, a city best known for their entrepreneurial endeavors.

Benedict Peters

Benedict Peters is a Nigerian billionaire with a net worth of over 2.7 billion USD, who founded the Aiteo Group, which has interests primarily in energy and is the largest indigenous oil producing firm in Nigeria by output.

Peters hails from Onicha Oloma in Delta State and was born in Abakaliki, Ebonyi State to a banker and a homemaker. He attended Ekulu Primary School, Enugu; and Federal Government College Enugu, after which he proceeded to the University of Benin, where he obtained a Bachelor of Science (B.Sc) Hons degree in Geography and Town Planning.

Femi Otedola

Femi Otedola with a net worth of over 2.3 billion USD is the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Originally a Nigerian subsidiary of British Petroleum (BP), Forte Oil has more than 500 gas stations across the country. It owns oil storage depots and manufactures its own line of engine oils.

In 2013, Otedola led the company to purchase a government-owned stake in a gas-fired power plant in Kogi state in central Nigeria. In September 2015, Swiss commodities giant Mercuria said it would acquire a 17% stake in Forte Oil for $200 million; as of late February 2016, the transaction is not yet complete.

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Otedola’s daughter, Ifeoluwa, is a popular disc jockey who goes by the moniker ‘DJ Cuppy’. She was the official disc jockey during the May 2015 inauguration of Nigeria’s President Muhammadu Buhari.

Otedola is a fitness buff, spending at least one hour in the gym every day. Otedola is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate, and finance. He has recently invested in power generation as part of the liberalization of the sector in Nigeria.

Abdusalam Rabiu

Abdulsamad Rabiu with a net worth of over 1.6 billion USD is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining, and real estate.

In December 2018, Rabiu merged his privately-owned Kalambaina Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled. His BUA Group also owns Obu Cement, which expanded its production with a new line in 2018.

Rabiu, the son of a businessman, inherited land from his father. He set up his own business in 1988 importing iron, steel, and chemicals.

Emmanuel Ojei

Emmanuel Isichei Ugochukwu Ojei with a net worth of over 1.5 billion USD, is a noble Nigerian and as a result of his hard work, integrity, and diligence he attained the height of a successful entrepreneur.

He is the Founder, Executive Chairman and Managing Director of Nuel Holdings LTD the sole distributor of Madza, Nuel Autos, Emo Oil. Emmanuel Ojei was born in 1951 in Lagos, Nigeria.

He had his primary and Secondary Education in Lagos. After which he attended Issele-Uku Technical College, Issele-Uku, Delta State Nigeria where he attained his Ordinary National Diploma (OND) in Business Administration and Management between 1970 and 1972.

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In 1973 Emmanuel Ojei started off his career as a sales manager with Rutam Motors Limited-a part of Ibru Organization. In 1976, after gaining the skills and knowledge he needed, he left Rutam Motors in order to establish his own business

Tony Elumelu

Nigerian entrepreneur and investor Tony Elumelu with a net worth of over 1.4 billion USD, owns a controlling interest in Transcorp, a publicly traded Nigerian conglomerate with interests in hospitality, agriculture, oil production, and power generation.

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He came into the limelight in 1997 when he led a small group of investors to take over a small, floundering commercial bank in Lagos. He turned it profitable within a few years and in 2005 he merged it with the United Bank for Africa.

That banking group now has subsidiaries in 20 African countries and in the U.S and U.K. Elumelu also owns extensive real estate across Nigeria and a minority stake in mobile telecom firm MTN Nigeria, among other assets.

ABC Orjiako

Dr. ABC Orjiako with a net worth of over 1.2 billion USD, is a heavyweight of the Nigerian oil and business sphere. It’s interesting to learn that Mr. Orjiako was a highly skilled orthopedist and traumatologist before he became a businessman.

Doctor ABC Orjiako established SEPLAT. It is one of the biggest Nigerian oil companies. The successful Igbo businessman also makes investments in some other industry, shipping, the pharmaceutic industry, real estate, and construction.

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