Top 10 Richest People In Nigeria 2023 ( Forbes 2023 )
Nigeria is a country that is not just the Giant of African but also a place where wealthy people lives. The Richest Man in Africa is from Nigeria and the second Richest Woman in Africa is also from Nigeria, Today’s article comprises of Top 10 Richest Men and Women In Nigeria According to Forbes 2023. Top 10 Richest People In Nigeria 2023 Forbes
10. Fifi Ekanem Ejindu
Princess Fifi Ekanem Ejindu is a Nigerian architect, businesswoman and philanthropist. Born in Ibadan, Nigeria, she is the great-granddaughter of King James Ekpo Bassey of Cobham Town in Calabar, Cross River, Nigeria.
Net worth: $850 million
Fifi Ekanem Ejindu is a Nigerian Business woman who is doing well in her field.
She is another amazing woman and numbered among the top richest people in Nigeria. She is a talented business person and has a net worth of $850 million.
Fifi is 60 ( born 1962 ) years of age and the great-granddaughter of King James Ekpo Bassey of Cobham Town Calabar. She studied Architecture from the Prat Institute in the United States.
Fifi established her business called Starcrest Group of Companies and transacts business in the Oil and Gas sector, Building Construction, and real estate.
9. Orji Uzor Kalu
Orji Uzor Kalu is a Nigerian politician and business Man who is a Senator representing Abia North Senatorial District, and has serves as the Chief Whip of the House of Senate, Federal Republic of Nigeria. He served as the Governor of Abia State, Nigeria from 29th May 1999 to 29th May 2007
Net worth: $1 billion
Orji Uzor Kalu, the next mega-rich Nigerian we are profiling, was the ex-governor of Abia state. He was born in 1960. He schooled at the University of Maiduguri and was a student activist, and after a protest at the University, he was suspended and did not finish school.
He then took a loan of $35 from his mother and invested it in palm oil. He bought the palm oil from the east and sold it in the North. He later started selling wholesale Furniture and used a holding company called SLOK.
SLOK invested in Newspaper publishing and owned the Daily Sun and New Telegraph. SLOK has grown into a multinational company operating in other countries like the USA, UK, Korea, South Africa, and more.
SLOK line of business includes a Paper factory, Oil, Banking, and production of Vegetable Oil and Airline.
8. Jim Ovia
Jim James Ovia is a Nigerian businessman, a native of Agbor in Delta State, Nigeria.He is the founder of Zenith Bank
Net worth: $1 billion
Jim Ovia is the next billionaire in this catalog of the top richest people Nigeria and what they do. Jim is the founder of Zenith Bank PLC and its chairperson and has the most substantial individual stake in the stocks of the bank.
He is said to have a net worth of about $1B and an Alumni of the Harvard Business School. Jim was born at Agbor in Delta state in 1951 and worked in Union bank as a clerk before he traveled to the USA for further studies.
He has his first degree in Business Administration from Southern University of Louisiana Baton Rouge. Jim followed this up with a master’s degree in Business Administration from the University of Louisiana, Monroe Louisiana, USA.
Upon his return home, he started his bank in May 1990, and Zenith bank began operating in July 1990. Apart from banking, Jim is also technically savvy and chairperson of Cyberspace Network Limited and The Nigeria Software Development Initiative (NSDI).
He owned Visafone Communications Limited, which was operating with CDMA technology, providing fixed wireless lines for users until MTN acquired the company.
Jim is a Philanthropist, and the Jim Ovia Foundation offers scholarships to needy qualified Nigerian students. The program, which started in 2008, awards N150,000 renewable scholarship per student throughout their schooling period
7. Folorunsho Alakija
Folorunsho Alakija is a Nigerian billionaire businesswoman and philanthropist. She is involved in the fashion, oil, real estate and printing industries.
Net worth: $1 billion
Folorunsho Alakija is the richest woman in Nigeria. She is the second richest woman in African.
She is number twenty in the African continent. Her wealth proves the famous adage that what a man can do; a woman can do it even better. She is 69 years of age, and the source of her wealth is oil.
Famfa Oil, where she is the vice-chairperson, is an oil exploration company with a stake in an inexhaustible offshore oil block called Agbami Oilfield.
Formerly, she owned a fashion label that designed garments for high profile customers like the wife of the erstwhile president Ibrahim B. Babangida.
In 1993, the Federal Government of Nigeria awarded Famfa Oil an oil prospecting license and later upgraded it to an oil mining lease. Chevron and Petrobras are the company’s associates.
Since 2008, the Oil field has been producing and could continue to produce throughout 2024.
6. Jimoh Ibrahim
Jimoh Ibrahim is a Nigerian lawyer, politician, a businessman and philanthropist. He is the chairman and chief executive officer of Global Fleet Group, a diversified conglomerate based in Nigeria, with business interests and subsidiaries in neighboring West African countries.
Net worth: $1.1 billion
Jimoh Ibrahim is next in this list of top richest people Nigeria and what they do. Jimoh Ibrahim is estimated to have a net worth of $1.1B. He was born 53 years ago and trained as a lawyer and holds a Master of Public Administration degree from the Obafemi Awolowo University Ile-Ife. He also holds a Master’s in Law and International Taxation from Harvard in the USA.
He started business early but gained prominence when he organized seminars for all Local Governments in Nigeria, and workshops for Federal ministries. He proposed to collect the withholding tax from Foreign multinational oil companies for the federal government of Nigeria and succeeded. He made several millions of naira from these deals.
In 2004, he ventured into the oil business and floated Global fleet oil and gas as the holding company. Global Fleet acquired over 150 filling stations and built its oil depot.
His companies include Nicon Insurance and Reinsurance, Nicon Luxury Hotels, Air Nigeria, and Energy bank in Accra Ghana.
He holds 100% of the Sao Tome and Principe Energy Bank stocks and owns Global Media Mirror publisher of National Mirror, which has 51% controlling shares of Newswatch Magazine.
Jimoh Ibrahim is yet to realize his political ambition to be Governor of his home state Ondo, where he contested twice and failed
5. Tony Elumelu
Anthony Onyemaechi Elumelu CON MFR is a Nigerian economist, and philanthropist. He chairs Heirs Holdings, Transcorp and founder of The Tony Elumelu Foundation. In 2020, Elumelu was named on Time’s list of the 100 most influential people in the world and in this article he is taking the list of 5th in the richest persons in Nigeria 2022
Net worth: $1.4 billion
Tony Elumelu
Tony Eleumelu is the next entrepreneur that we are bringing to you. Born in 1963, He is a banker, entrepreneur, and philanthropist known for the Tony Eleumelu Foundation that gives out $5,000 seed money to young startup companies in Africa yearly.
He trained as an economist from the then Bendel State University Ekpoma and is also an Alumnus of the Harvard Business School.
He started his banking career from the now-defunct Allstates Trust Bank owned by Ebitimi Banigo and rose through the ranks to the top. He later led a group to acquire the then Standard Trust Bank and merged it with UBA in 2005.
He transformed UBA and opened branches in 19 African countries. His Heirs holding has investments in UBA, Transcorp, real estate, energy, agribusiness, financial service, and hospitality.
4. Femi Otedola
Femi Otedola is a Nigerian businessman, philanthropist, and former chairman of Forte Oil PLC, an importer of fuel products. Otedola is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance in Nigeria and other part of the globe.
Net worth: $1.8 billion
Femi Otedola
Femi Otedola when he was 57 years of age and was reported to spend one hour in the gym daily trying to keep fit.
He made his money through petrol stations and power generation business. According to the Forbes report, he is the major shareholder in Forte Oil, a publicly quoted oil marketing and power generation company.
Forte oil business includes petrol filling stations throughout Nigeria, making of engine oil, oil storage depots, and a power plant fired by gas in Kogi state.
3. Abdulsamad Rabiu
Abdul Samad Isyaku Rabiu CON is a Nigerian billionaire businessman and philanthropist. His late father, Khalifah Isyaku Rabiu, was one of Nigeria’s foremost industrialists in the 1970s and 1980s, and today he is taking the list of 3rd in the richest people we have in Nigeria
Net worth: $5.5 billion
Abdulsamad Rabiu is 59 years of age and owns the BUA Group, whose primary business includes the production of Cement, real estate, and the making of sugar.
His father was a prosperous businessperson, who willed enormous Land to Rabiu. Rabui attended Capital University, Ohio, in the USA and started his own business in 1988 by importing iron, steel, and chemicals.
Abdulsamad Rabui bought the Nigeria Oil Mills and is the main shareholder of BUA PLC, a publicly-traded company. After a merger of the Cement Company of Northern Nigeria and his private company called Obu, he now has 98.5% shares in the BUA PLC.
2. Mike Adenuga
Chief Michael Adeniyi Agbolade Ishola Adenuga Jr CSG GCON is a Nigerian billionaire businessman, and the fourth richest person in Africa. His company Globacom is Nigeria’s second-largest telecom operator and also has a presence in other Africa countries like Ghana, Benin and others.
Net worth: $6.3 billion
Mike Adenuga
The next person on this list of the top richest people Nigeria is Mike Adenuga
Mike Adenuga was born 66 years ago, and he holds a Master of Business Administration degree from Pace University in the United States of America.
While schooling in the USA, he drove taxi cabs to pay his school fees and, at 26 years of age, established a business that distributes soft drinks and sells Lace material and made his first million.
His primary source of wealth is oil production and telecom business. If you do not know this, his company owns Globacom, the third-largest GSM network with a subscriber base that is up to 43 million.
1. Aliko Dangote
Aliko Dangote GCON is a Nigerian billionaire business magnate. Dangote is the founder and current chairman and CEO of the Dangote Group, the largest industrial conglomerate in West Africa. He is the richest man in African
Net worth: $13.5 billion
Aliko Dangote is the richest man in Africa with a net worth of $10.1B, and that means he is also the richest man in Nigeria.
If you are wondering who Dangote is, here is his profile for your consumption. He was born 62 years ago and graduated from Al-Azhar University in Egypt with a Bachelor of Arts and Science. His primary source of wealth is the Cement and sugar.
He started a business to produce the food you eat and to make a significant building material. His company’s products include Dangote Pasta, Sugar, Flour, Salt, and Cement. All these companies trade publicly on the Nigerian Stock Exchange, and his stakes in them are huge.
His holding company has a stake of shares worth 85 % of Dangote cement, which is a public liability company. This company operates in ten African countries and produces 45.6 million metric tons of Cement yearly.
To solve Nigeria’s constant fuel crisis, three years ago, he started the construction of the Dangote Refinery. When completed, it will be the largest oil refinery in the world. That is the man Dangote for you.
So that’s it for the listing guys, do well to check out our related post in this site.
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