Richest People In Nigeria 2016

The Federal Republic of Nigeria is a land full of opportunities and very wealthy individuals. The country has the largest amount of billionaires  in Africa. Thanks to the crude oil buried deep under their soil. According to Forbes Africa’s rich list, these are the wealthiest people in Nigeria:

mike adenuga

Top 10 Richest People In Nigeria


10) Orji Uzor Kalu – Net Worth: $330 Million

The former governor of Abia State, Orji Uzor Kalu is the founder of Slok Holding, the Daily Sun and New Telegraph newspapers in Nigeria. His area of interests is in banking, shipping, manufacturing, oil trading and media.


9) Mohammed Indimi – Net Worth: $500 Million

Mohammed Indimi is a Nigerian based businessman and the founder of Oriental Energy in 1990. This 67 year old self-made Nigerian millionaire resides in Maiduguri. He is the chairman of the Oriental Energy Resources, a private Nigerian oil exploration and production company.


8) Jim Ovia – Net Worth: $550 Million

Jim Ovia is a Nigerian businessman and he founded Zenith Bank in 1990. After gaining degrees at both Southern University and University of Louisiana at Monroe, he attended Harvard Business School. This successful banker is the chairman of Zenith Bank Group one of Nigeria’s largest financial services groups.


7) Tony Elumelu – Net Worth: $700 Million

Nigerian-born self-made billionaire is one of Africa’s most revered business leaders. He made his fortune through a variety of investments, including a controlling interest in Transcorp.


6) Theophilus Danjuma – Net Worth: $750 Million

The self made Nigerian business man  and a retired Nigerian general. He served as the defense minister of Nigeria. He is the founder of oil exploration company South Atlantic Petroleum, which owns upstream assets in Nigeria, Republic of Benin, the Central African Republic and Madagascar.


5) Abdulsamad Rabiu – Net Worth: $1.1 Billion

This 56 year old self made Nigerian billionaire is based in Lagos. He is the founder of BUA group, a Nigerian conglomerate with investments in real estate, cement production, sugar refining, manufacturing, port concessions, steel, shipping and oil and gas.


4) Folorunsho Alakija – Net Worth: $1.8 Billion

This 65 year old billionaire is the vice chairman of Famfa Oil, which pumps about 200,000 barrels a day. Her tailoring company Supreme Stitches has many elite clients. She founded the Rose of Sharon Foundation in 2008. This foundation helps widows and orphans.


3) Femi Otedola – Net Worth: $1.8 Billion

Femi Otedola’s Zenon Petroleum is one of the largest diesel distributors in Nigeria. Its annual sales is more than $2 billion. In 2009 he was among Forbes Billionaires but dropped out of the list after shares of Zenon Petroleum plunged more than 80%.


2) Mike Adenuga – Net Worth: $6.3 Billion

Nigeria’s second richest man, built his fortune in telecom and oil production. His mobile phone network, Globacom, is the second largest operator in Nigeria with 32 million subscribers; it also has operations in Ghana and the Republic of Benin.


1) Aliko Dangote – Net Worth: $12.2 Billion

This 59 year old self-made billionaire is the CEO of Dangote Group. He is the richest man in Africa and richest black in the world. Dangote made his wealth from cement, sugar and flour.

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