June 4, 2023

Nigeria is a nation with a vibrant economy that is diverse and home to many great business people who have established lucrative enterprises across a wide range of industries. These people have amassed impressive riches and power by using their talent, hard work, and innovation in a variety of industries, including retail, media, the oil industry, and banking. In this article, we’ll look at a few of Nigeria’s wealthiest business people. These people serve as role models for aspiring business owners, and their success stories show the potential for achievement that exists within Nigeria’s flourishing economy.

Aliko Dangote

1. Aliko Dangote: Aliko Dangote is the richest person in Nigeria and all of Africa, with an estimated net worth of $12.5 billion as of January 4, 2023, according to Forbes real time. Aliko Dangote, who was born on April 10th, 1957, is the founder and CEO of the “Dangote Group,” which is Africa’s largest producer of sugar and cement.

At the moment, his company is the market leader in a number of nations, including Benin, Ethiopia, Cameroon, South Africa, and Ghana. About 70% of the present Nigerian sugar market is under the hands of the “Dangote Group,” which also runs the biggest sugar refinery in Africa and the third-largest in the world.

Mike Adenuga Jr

2. Mike Adenuga Jr: Nigerian billionaire businessman Michael Adeniyi Adenuga, who was born on April 29, 1953, is the second richest person in that country. Mike Adenuga is listed as having a net worth of $5.6 billion as of January 4, 2023, making him the third richest person in Africa, according to the most recent Forbes list.

Adenuga, the second-richest person in Nigeria, made his money in the oil and telecommunications industries. With 37 million members, his mobile phone service, Globacom, is Nigeria’s second-largest operator. Six oil blocks are run by his oil exploration company, Conoil Producing, in the Niger Delta.

Femi Otedola

3. Femi Otedola: Femi Otedola is the chairman of Forte Oil PLC, an importer of fuel products, and was born in Nigeria on November 4, 1962. He is a businessman, entrepreneur, and philanthropist. He is the son of the former governor of Lagos State, Michael Otedola. He was estimated to have a net worth of $1.8 billion in 2016 by Forbes.

Zenon Petroleum and Gas Ltd. was founded by Otedola, who is also the founder of numerous other companies in the shipping, real estate, and banking industries. As part of the liberalisation of the industry in Nigeria, he just made an investment in electricity generation.

Folorunso Alakija

4. Folorunso Alakija: One of the wealthiest African women and one of the richest black women in the world, Folorunso Alakija, a Nigerian millionaire businesswoman, was born on July 15, 1951. She briefly replaced Oprah Winfrey as the richest woman in the world in 2014 after she had held the title since 1999.She is estimated by Forbes forecast to be worth $1 billion in net worth in the year 2020.

Folorunsho Alakija is the vice chair of Famfa Oil, a Nigerian oil exploration company having a share in the profitable offshore asset known as Agbami Oilfield. Petrobras and Chevron are partners with Famfa Oil.

The former Nigerian president Ibrahim Babangida’s wife was among the patrons of Alakija’s first business, a fashion line.

Tony Elumelu

5. Tony Elumelu: Nigerian economist, businessman, and philanthropist Tony Onyemaechi Elumelu was born on 22 March 1963. He founded the Tony Elumelu Foundation and is the chairman of Transcorp, Heirs Holdings, and the United Bank for Africa. His estimated net worth in 2015, as reported by Forbes, was $700 million.

Tony Elumelu first gained notoriety in 1997 when he organised a small group of investors to take control of a struggling commercial bank in Lagos. He was named by Forbes magazine as one of “Africa’s 20 Most Powerful People in 2012.”


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