Who are the richest people in Nigeria, and where did they get their riches? Read on to discover the wealthiest people in the country and how much they are worth. Richest people in Nigeria in 2024 The richest people in Nigeria in 2024 are worth millions or billions of dollars. They are financially astute people who have invested in key sectors of the country’s economy.
20. Tony Elumelu – $700 million
Tony Elumelu, chairman of Heirs Holdings Ltd. and chairman of United Bank for Africa PLC, departs the Tech For Good meeting at Elysee Palace in Paris, France. Photo: Christophe Morin/Bloomberg Source: Getty Images Date of birth: 22 March 1963 Age: 61 years (as of 2024) Source of wealth: Investments in financial services, real estate, hospitality, healthcare, power, oil, and gas
Tony Elumelu is the CEO of Heirs Holdings, a business conglomerate he started after retiring from the banking industry. His company has invested in financial services, real estate, hospitality, healthcare, power, oil, and gas. Tony Elumelu’s net worth is $700 million. 19. Jim Ovia – $980 million
19. Jim Ovia – $980 million
Jim Ovia, chairman of Zenith Bank Plc, following an interview on the opening day of the 28th World Economic Forum on Africa in Cape Town, South Africa. Photo: Waldo Swiegers/Bloomberg Source: Getty Images Date of birth: 4 November 1951 Age: 72 years (as of 2024) Source of wealth: Baking industry, telecommunication, property
Jim James Ovia’s net worth is $980 million. In 1990, Ovia founded Zenith Bank, one of the largest commercial banks in the country. He is the chairman and largest individual shareholder in the business. He is not just a businessman – he is also involved in philanthropic work. He founded the Youth Empowerment ICT Foundation, an organisation focused on improving Nigerian youth welfare and helping them embrace ICT developments.
18. Igho Sanomi – $1 billion
Date of birth: 17 May 1975 Age: 48 years (as of 2024) Source of wealth: Investments in telecommunications, shipping, aviation and real estate investments Igho Charles Sanomi is one of the richest businessmen in Nigeria. Besides running successful businesses, he is a public speaker, geologist, and philanthropist.
He has invested in telecommunications, aviation, real estate, and shipping. Today, Igho Sanomi’s net worth is $1 billion.
17. Folorunsho Alakija – $1 billion
Folorunso Alakija, Nigeria’s richest woman, applauds on stage in front of the congregation of the Rose of Sharon Glorious Ministry in Lagos, Nigeria. Photo: George Osodi/Bloomberg via Getty Images Source: Getty Images Date of birth: 15 July 1951 Age: 72 years (as of 2024) Source of wealth: Fashion, oil, real estate and printing industries Folorunsho Alakija is the richest woman in Nigeria. She is vice chair of a Nigerian oil exploration company called Famfa Oil. The firm has a stake in an offshore asset called Agbami Oilfield.
Her first company was a fashion label that sold to high-end clients, including the spouse of Ibrahim Babangida, the former Nigerian president. Folorunsho Alakija’s net worth is $1 billion. Folorunsho Alakija is a philanthropist who donates to widows through the Rose of Sharon Foundation. Many Nigerians admire her.
16. Pascal Gabriel Dozie – $1 billion
Pascal Dozie, co-chairman of the Commonwealth Business Council, addresses the opening ceremony of the Commonwealth Business Forum in Perth. Photo: Tony Ashny/AF Source: Getty Images Date of birth: 9 April 1939 Age: 84 years (as of 2024) Source of wealth: Investments in banking Pascal Gabriel Dozie is the founder of Diamond Bank, and his current net worth is $1 billion. He also owns shares in MTN Group, a South African multinational mobile telecommunications company.
15. Jimoh Ibrahim – $1.1 billion
Date of birth: 24 February 1967 Age: 57 years (as of 2024) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist from Igbotako in Okitipua, Ondo State. He has a net worth of $1.1 billion. Ibrahim is the chairman of the Global Fleet Group, a large, diverse Nigeria-based conglomerate company.
The conglomerate has many subsidiaries in different cities of Nigeria, mainly Lagos and other African countries. It has interests in various sectors, including insurance, hospitality, transport, real estate, oil, and gas. Jimoh Ibrahim is a published author of three books. He is also the publisher of the National Mirror Newspaper.
14. Danjuma Theophilus – $1.1 billion
Date of birth: 9 December 1938 Age: 85 years (as of 2024) Source of wealth: Political career, career in the Nigerian army, shipping, and petroleum exploration Theophilus Yakubu Danjuma is a politician and retired Nigerian army lieutenant general. He had a long-running army career and played a crucial role in post-independence military and political events in the country. After retiring, he founded the Nigeria America Line shipping company. He also founded COMET Shipping Agencies Nigeria and South Atlantic Petroleum Limited. Danjuma Theophilus’ net worth is $1.1 billion.
13. Femi Otedola – $1.1 billion
Femi Otedola, chairman of Geregu Power Plc, during the commissioning ceremony of the Dangote Industries Ltd. Oil Refinery and Fertilizer Plant site. Photo: Benson Ibeabuchi/Bloomberg via Getty Images Source: UGC Date of birth: 4 November 1962 Age: 61 years (as of 2024) Source of wealth: Investments in petroleum, shipping, real estate, and finance Femi Otedola is the biggest shareholder of Forte Oil, a publicly traded company. The company has more than 500 gas stations across the nation. He also has investments in shipping, real estate, and finance. Femi Otedola’s net worth is $1.1 billion. His company, Zenon Petroleum and Gas Ltd, specialises in distribution and marketing. He has made considerable investments in other business spheres, such as finance, real estate, and shipping. In addition, he has invested in power generation in an effort to achieve sector liberalisation
12. Leo Stan Ekeh – $1.2 billion
Leo Stan Ekeh is pictured in striped suits. Photo: pexels.com, @ekehleostan (modified by author) Source: UGC Date of birth: 22 February 1956 Age: 68 years (as of 2024) Source of wealth: Investments in ICT Leo Stan Ekeh is a businessman worth $1.2 billion. He owns Zinox Group and Konga. Zinox is a leading ICT ecosystem in Africa. It deals with computer and peripheral equipment manufacturing. On the other hand, Konga is an online electronics shop.
11. ABC Orjiako – $1.2 billion
Date of birth: 2 October 1960 Age: 63 years (as of 2024) Source of wealth: Oil and gas industry Ambrose Bryant Chukwuemeka Orjiako, alias ABC Orjiako, is a trained medical doctor and business tycoon. He co-founded SEPLAT, a leading independent oil and gas company in Nigeria. SEPLAT is listed on the London and Nigeria stock exchanges. ABC Orjiako’s net worth is $1.2 billion.
10. Andy Uba – $2.1 billion
Andy Uba looks on ahead of the next governorship election in Akwa, Anambra State, in southeast Nigeria. Photo: Pius Utomi Ekpei/AFP Source: Getty Images Date of birth: 14 December 1958 Age: 65 years (as of 2024) Source of wealth: Politics In 2011, Andy Uba was elected the Senator of Anambra South Senatorial District in Anambra State. He started his political career back in his college days. Today, Andy Uba’s net worth is $2.1 billion.
9. Benedict Peters – $2.7 billion
Benedict Peters is pictured in navy blue and black suits. Photo: @realbenedict_peters (modified by author) Source: UGC Date of birth: 5 December 1966 Age: 57 years (as of 2024) Sources of wealth: Oil and gas industry
Benedict Peters is one of the most successful entrepreneurs in Nigeria. He started his career in the oil and gas industry in the early 1990s. He worked closely with the founders of Ocean and Oil before establishing Sigmund Communecci in 1999. In February 2008, he founded the Aiteo Group, the successor entity to Sigmund Communecci. Benedict Peters’s net worth is $2.7 billion.
8. Emeka Offor – $2.9 billion
Emeka Offor is pictured in suits. Photo: @sireoffor_foundation (modified by author) Source: UGC Date of birth: 10 February 1957 Age: 67 years (as of 2024) Source of wealth: Oil production Emeka Offor is one of the richest entrepreneurs in Nigeria. He is a successful businessman, oil tycoon, and philanthropist. He is the founder and chair of The Chrome Group, an oil exploration firm with headquarters in Abuja. Emeka Offor’s net worth is $2.9 billion.
7. Orji Uzor Kalu – $3.2 billion
Orji Uzor Kalu is among the Nigerian billionaires you should know. He is a successful businessman and politician with a net worth of $3.2 billion. He is the sitting senator of Abia North Senatorial District. He is also the CEO of SLOK Holding, a company with investments in banking, shipping, manufacturing, oil trading, and media. This business conglomerate has branches in Nigeria, South Africa, Guinea, Ghana, Liberia, Benin Republic, Botswana, and Korea.
6. Cletus Ibeto – $3.8 billion
Date of birth: 6 November 1952 Age: 71 years (as of 2024) Source of wealth: Cement, energy, and automotive parts production Cletus Ibeto is the founder and chair of the biggest union in the Eastern part of Nigeria called Ibeto Group. The astute businessman and humanitarian started as a spare parts import vendor in his college days. In March 1988, he established his auto spares factory called The Ibeto Group in Nnewi. In 1995, his company was one of the country’s largest manufacturers of auto spare parts.
He later founded Ibeto Petrochemical Industries Ltd., which blends oil lubricants and produces various petroleum products for both local and international markets. Today, Cletus Ibeto’s net worth is $3.8 billion.
5. Arthur Eze – $5.8 billion
Arthur Eze is pictured in a striped shirt and a suit. Photo: @prince_arthur_eze (modified by author) Source: UGC Date of birth: 27 November 1948 Age: 75 years (as of 2024) Source of wealth: Oil production, aviation Arthur Eze is the Chief Executive Officer of Atlas Oranto Petroleum, one of Nigeria’s largest privately-held oil exploration and production companies. In 1992, he founded Triax Airlines following the deregulation of airlines in Nigeria. Atlas Oranto Petroleum is not just Nigeria’s largest privately held oil business but also Africa’s largest holder of oil exploration blocs. Arthur Eze’s net worth is $5.8 billion.
4. Abdulsamad Rabiu – $5.9 billion
Abdul Samad Rabiu, chief executive officer of BUA Group, at the Africa CEO Forum in Abidjan, Ivory Coast. Photo: Andrew Caballero-Reynolds/Bloomberg via Getty Images Source: Getty Images Date of birth: 4 August 1960 Age: 63 years (as of 2024) Source of wealth: Cement production, sugar refining and real estate
Abdulsamad Rabiu is the founder of BUA Group, a company involved in cement production, sugar refining and real estate. In 1988, he started a business that imported iron, steel and chemicals. He also inherited land from his father, a late successful businessman. He also established BUA International Limited for commodity trading, importing rice, flour, oil, and iron. Eventually, the company grew and expanded into steel, the production of billets, and construction rolling mills. Currently, Abdulsamad Rabiu’s net worth is $5.9 billion.
3. Alafaa Kariboye-Igbo – $6.1 billion
Oil Money posing for pictures in an orange suit and outdoors in Greece. Photo: @oilmoneyofficial (modified by author) Source: UGC Date of birth: 21 May 1981 Age: 43 years (as of 2024) Source of wealth: Business investments in real estate, oil, gas, auto dealership, and entertainment Alafaa Kariboye-Igbo is commonly known as Oil Money. The business tycoon was born into a low-income family, but he worked hard to become a wealthy man with a net worth of $6.1 billion.
The employer owns Oil Money Records, which helps upcoming artists to release music. He also has investments in real estate, oil and gas production, and vehicle dealership.
2. Mike Adenuga – $6.5 billion
Mike Adenuga is pictured in a white Agbada and a blue shirt. Photo: @mike.adenuga (modified by author) Source: UGC Date of birth: 29 April 1953 Age: 71 years (as of 2024) Source of wealth: Telecom and oil production Mike Adenuga is among the richest people in Nigeria. He owns Globacom, a mobile phone network in the country that is the second-largest telecommunication operator in the West African nation. The telecom company has offices in Benin, Ghana, and Cote d’Ivoire. Apart from this, the businessman is the owner of Conoil Producing Limited, one of the country’s biggest oil companies. Mike Adenuga’s net worth is $6.5 billion.
1. Aliko Dangote – $13.7 billion
Aliko Dangote, billionaire and chief executive officer of Dangote Group, reacts during a panel session at the World Economic Forum (WEF) in Davos, Switzerland. Photo: Jason Alden/Bloomberg Source: Getty Images Date of birth: 10 April 1957 Age: 67 years (as of 2024) Source of wealth: Cement production, auto manufacture, and fertiliser production
Aliko Dangote is the wealthiest man in Nigeria. He is also the richest man in Africa. He is the founder and chairman of Africa’s largest cement producer, Dangote Cement. He owns 85% of the company. Aliko Dangote’s firm started as a small business that specialised in trading. Today, the business has branches in Nigeria, Ghana, Benin Republic, and Togo. The Dangote Group is famous for being the most influential industrial group in the Western Africa region. It has about 30,000 employees. Aliko Dangote’s net worth is $13.7 billion.
Recap of the top 20 richest people in Nigeria Ranking Name Net worth 1 Aliko Dangote $13.7 billion 2 Mike Adenuga $6.5 billion 3 Alafaa Kariboye-Igbo $6.1 billion 4 Abdulsamad Rabiu $5.9 billion 5 Arthur Eze $5.8 billion 6 Cletus Ibeto $3.8 billion 7 Orji Uzor Kalu $3.2 billion 8 Emeka Offor $2.9 billion 9 Benedict Peters $2.7 billion 10 Andy Uba $2.1 billion 11 ABC Orjiako $1.2 billion 12 Leo Stan Ekeh $1.2 billion 13 Femi Otedola $1.1 billion 14 Danjuma Theophilus $1.1 billion 15 Jimoh Ibrahim $1.1 billion 16 Pascal Gabriel Dozie $1 billion 17 Folorunsho Alakija $1 billion 18 Igho Sanomi $1 billion 19 Jim Ovia $980 million 20 Tony Elumelu $700 million
