Meet the Top 10 wealthiest men in Nigeria

Many Nigerians have for years asked who is the wealthiest men in Nigeria?

This article will satisfy their curiosity by representing the most recent ranking of the top ten wealthiest men in Nigeria as of 2021/2022, and their current net worth.

In this article, you will learn more about the richest men’s business careers, investments, assets, accolades, lifestyles, and other aspects of their life.

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Nigeria, a country located on the western coast of Africa has a diverse geography, with climates ranging from arid to humid equatorial.

Nigeria’s most diverse feature is its people. Hundreds of languages are spoken in the country, including Yoruba, Igbo, Fula, Hausa, Edo, Ibibio, Tiv, and English. The country has abundant natural resources, notably large deposits of petroleum and natural gas.

Despite the inclusion of most Nigerians among the world’s wealthiest Africans, the country is still facing economic recession.

The list

1 Aliko Dangote $12 Billion
2 Mike Adenuga $7 Billion
3 Alafaa Kariboye-Igbo $6.1
4 AbdulSamad Rabiu $5.5 Billion
5 Orji Uzor Kalu $2.3 Billion
6 Femi Otedola $1.8 Billion
7 Tony Elumelu $1.4 Billion
8 Jimoh Ibrahim $1.2 Billion
9 Pascal Dozie $1.1 Billion
10 Leonard Stanley Nnamdi Ekeh $1 Billion


Aliko Dangote

Aliko Dangote was born in Kano, Kano Nigeria, in 1957.

He graduated in 1978 from the Government College, Birnin Kudu.

He graduated from Al-Azhar University in Egypt where he studied Business.

Aliko Dangote GCON, a Nigerian billionaire business magnate is the founder and current chairman and CEO of the Dangote Group, the largest industrial conglomerate in West Africa.

Dangote Group and its assistants exercise complete market control over their competitors in countries like Benin, Ghana, Nigeria, Zambia, and Togo, trading in agricultural commodities such as beans, wheat, and sugar.

Dangote group’s operations have grown for years with Dangote Sugar Refinery, Dangote Cement, Dangote Flour, and other businesses are part of the partnership.

In addition, the Dangote refinery is currently under construction, and it is predicted to treble its net worth once operations commence.

Each of the Dangote group’s subsidiaries generates substantial profits after each fiscal year, ensuring that its net worth continues to increase over time.

Aliko Dangote, with a net worth of 12 billion dollars, is certainly the wealthiest man in Nigeria, and he is also the most inventive businessman to have ever existed on the African continent, according to Forbes.


Mike Adenuga

Michael Adeniyi Agbolade Ishola Adenuga Jr CSG GCON born on 29 April 1953 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 Ghana and Côte d’Ivoire.

His telecom company Globacom which is currently challenging the giant MTN Group was launched in Benin in 2008 and has continued its spread with more licenses currently being prospected in other West African countries.

Micheal Adenuga whose net worth is $7 billion started as a trader who deals in lace materials, as well as the distribution of soft drinks on a large scale.

Through this business, he earned his first million and raised enough capital to start his drilling and exploration company known as Consolidated Oil.

In 1991, he received his first drilling license and eventually struck oil in the Southwestern region of Ondo state which made his company the first indigenous company in the country to achieve the feat.

Mike also owns huge shares in Equatorial Bank, as well as Conoil.

Alafaa Kariboye-Igbo

Rivers State-born Alafaa Kariboye-Igbo whose current net worth is $6.1 Billion makes him the third richest person in Nigeria was born on the 21st of August, 1981; and runs most of his businesses from the United Kingdom as a businessman, entrepreneur, and investor, and so on.

Alafaa who is not Nigerian based in Nigeria is known to invest in real estate, oil and Gas, and car dealerships.

He also has a business in the entertainment industry through his subsidiary group known as the Oil Money records, as well as event promotion.

AbdulSamad Rabiu

Abdul Samad Isyaku Rabiu CON CFR, born on 4 August 1960 in Kano, Nigeria was a Nigerian billionaire businessman and philanthropist who had his early education at Federal Government College, Kano after he proceeded to the United States to study Economics at the Capital University Columbus, Ohio, United States of America.

AbdulSamad Rabiu’s net worth of $5.5 Billion makes him the fourth richest man in Nigeria.

He is the son of Khalifah Isyaku Rabiu who was a well-known industrialist between the 70s and 80s and took over his father’s ideas and reformed it to create a business empire.

AbdulSamad after his education returned to Nigeria and created his own company known as BUA International group to replace his father who was already in hot waters with the Buhari regime for tax reasons.

His company trades commodities like rice, groundnut oil, flour, iron, as well as steel.

His company received a contract from the government to manufacture raw materials for exchange in late 1990.

Orji Uzor

Orji Uzor Kalu’s net worth of $2.3 million makes him the fifth richest man in Nigeria. He is a Nigerian politician and businessperson who is a Senator representing Abia North Senatorial District, He also serves as the Chief Whip of the House of Senate, Federal Republic of Nigeria. He served as the Governor of Abia State, Nigeria from 29 May 1999 to 29 May 2007.

He was arrested as soon as he left office as a governor on charges of bribery, corruption, and numerous other financial crimes.

Before he became a Governor, he traded in Palm oil by buying from the East and selling them in the Northern region of Nigeria as well as venturing into the company of selling large furniture, until he established the SLOK holdings which had numerous subsidiaries under it.

Femi Otedola

Femi Otedola is a Nigerian businessman, philanthropist, and investor with a net worth of $1.8 Billion, standing as the sixth richest man in the country.

He was born on the 4th of November 1962 in Ibadan, Oyo state. He is a former chairman of Forte Oil PLC, an importer of fuel products, and a founder of Zenon Petroleum and Gas Ltd.

Otedola also owned several other businesses across shipping, real estate, and finance.

Femi Otedola is the son of former Lagos State governor, Sir. Michael Otedola attended Olivet Baptist Heights for his secondary education, while also earning his first degree at the Obafemi Awolowo University in Osun state.

He made investments in real estate, fuel marketing, finance, and so on. Some of the companies owned by him include Forte oil, CenterForce limited, swift insurance, SeaForce shipping company, Zenon, FO Properties, and Android Plc.


Tony Elumelu

Anthony Onyemaechi Elumelu CFR is a Nigerian economist, and philanthropist.

He chairs Heirs Holdings, and Transcorp, and is the founder of The Tony Elumelu Foundation.

In 2020, Elumelu was named on Time’s list of the 100 most influential people in the world.

Tony Elumelu’s net worth is $1.4 Billion and was born on 22 March 1963 and raised in Jos, Plateau state. He is a prominent economist and businessman who acquired his first and master’s degrees in Economics at Ambrose Alli University and the University of Lagos respectively.

He started his business career during his National Youth Service at the Union Bank. Throughout his career, he was able to acquire the Standard Trust Bank, as well as United Bank for Africa down the line.


Jimoh Ibrahim

Jimoh Ibrahim is a Nigerian lawyer, politician, 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.

John whose net worth was $1.2 billion earned his first degree and Master in Law at the Obafemi Awolowo University in Osun state.

He is the Ondo South Senatorial District candidate under the umbrella of the All Progressive Congress, APC in the 2023 general election.

He also attended Harvard University, where he earned a combined Masters’s degree in Law, as well as International Taxation.

John earned most of his riches and wealth through diversified investments in oil & gas distribution, hotels, resorts, airlines, banking, real estate, insurance, publishing, and investments.

Pascal Dozie

Pascal Dozie with a net worth of $1.1 billion had his secondary education at the Holy Ghost College in Owerri.

He is the founder of Diamond Bank and the chairman of Pan-Atlantic University and was born on 9 April 1939.

Pascal Dozie has built a long, long career that has endured for over 2 decades as an economist and businessman. His business career began after gaining employment at the National Economic Development Office in the United Kingdom.

He acquired his first degree in economics at The London School of Economics as well as getting a part-time job as a lecturer at the Northwestern Polytechnic.

Dozie once held prominent roles such as the president of the Nigerian stock exchange (NSE) and Chairman of the MTN Group.


10. Leonard Stanley Nnamdi Ekeh

Leonard Stanley Nnamdi Ekeh’s net worth is $1 Billion.

He was born on February 22, 1956, in Imo State, Nigeria.

He is the founder and chairman of Zinox Group and also the chairman of Konga.com.

Leonard Stanley was raised by his parents who were a dietitian and a Nurse respectively.

He acquired his secondary education at the Holy Ghost College in Owerri, after which he proceeded to earn his first degree in economics at the Punjab University.

In 2001, Leonard Stanley decided to establish the Zinox Technologies Ltd. whose sole operation is to manufacture computers.

He became the first to manufacture computers with WHQL certification and a further NIS ISO 2000: 9001 QMS Certification a few years later.

This corporation was his main source of income until he acquired Konga by buying off 99% of the stake in the company.