Nigeria has solidified its presence on the global wealth map, with six of its citizens making the latest list of the world’s Black billionaires. These individuals have built their fortunes through industries ranging from manufacturing and telecommunications to oil, finance, and technology. Their contributions extend beyond their businesses, influencing Nigeria’s economy and inspiring future generations.
1. Aliko Dangote – $23.9 Billion
Aliko Dangote remains Africa’s richest man, a title he has held for over a decade. Born in 1957 in Kano, Nigeria, Dangote founded the Dangote Group, which started as a small trading firm in 1977. Over the years, he expanded into manufacturing, focusing on cement, sugar, flour, and, more recently, petroleum refining. The Dangote Cement brand is a household name in Africa, supplying a significant portion of the continent’s cement needs.
In 2024, Dangote Refinery, the largest in Africa, began operations, aiming to reduce Nigeria’s dependence on imported petroleum products. His influence in the industrial sector has made him a critical player in Nigeria’s economic development.
2. Mike Adenuga – $6.8 Billion
Mike Adenuga, born in 1953, is one of Nigeria’s most influential businessmen, with interests spanning telecommunications, oil, and banking. He is the founder and chairman of Globacom (Glo), Nigeria’s second-largest telecom provider, known for its affordable data plans and extensive network coverage across West Africa.
Adenuga made his first fortune in the oil sector through Conoil, an exploration and production company. Despite keeping a low profile, his impact on Nigeria’s economy is significant, providing employment and investment opportunities in various sectors.
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3. Abdulsamad Rabiu – $4.7 Billion
Abdulsamad Rabiu, born in 1960, is the founder and chairman of BUA Group, a leading conglomerate in Nigeria’s manufacturing sector. His business empire covers cement, sugar, flour, real estate, and ports.
Rabiu inherited a small trading business from his father and transformed it into a billion-dollar conglomerate. His company has played a crucial role in Nigeria’s industrialization, particularly in cement production, where BUA Cement is a major competitor to Dangote Cement.
4. Femi Otedola – $1.7 Billion
Femi Otedola, born in 1962, made his fortune in the oil and gas sector through Forte Oil, a company he later sold to focus on the power industry. He is currently the chairman of Geregu Power Plc, a key player in Nigeria’s electricity generation sector.
Apart from his business ventures, Otedola is known for his philanthropy and investments in Nigeria’s economic growth. He has also been in the spotlight for his investments in financial institutions, including First Bank of Nigeria.
5. Tope Awotona – $1.4 Billion
Tope Awotona, a Nigerian-born entrepreneur based in the United States, is the founder and CEO of Calendly, a scheduling software company. Born in Lagos, Nigeria, he moved to the U.S. as a teenager and initially pursued a career in sales before launching Calendly in 2013.
Calendly became a widely used scheduling tool, especially during the COVID-19 pandemic, when remote work and virtual meetings surged. His success in the tech industry makes him one of the few Africans to achieve billionaire status in Silicon Valley.
6. Adebayo Ogunlesi – $2.3 Billion
Adebayo Ogunlesi, born in 1953, is a Nigerian investment banker and businessman who made his fortune in finance. He is the chairman and CEO of Global Infrastructure Partners (GIP), a private equity firm specializing in infrastructure investments.
Ogunlesi gained prominence after GIP acquired major airports, including London Gatwick Airport and Edinburgh Airport. His expertise in global finance and infrastructure investment has positioned him as one of the most influential Nigerians in the international business scene.
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