This article features the most current list of the richest people in Nigeria, their assets and respective networths in 2020.
Over the years, Aliko Dangote has established himself as Nigeria’s richest man, the richest in Africa and the richest black person in the world.
As the most influential man in Africa (based on his great wealth), he has wined and dined with presidents, celebrities, business moguls, entrepreneurs and world billionaires. Trailing Dangote closely is Mike Adenuga, the chairman of Globacom, whose net worth skyrocketed to $9.2 billion towards the ending of last year.
With around $2 billion or more to go, Mike Adenuga is set to overtake Dangote as Africa’s richest billionaire. As some people like Adenuga are witnessing a steady rise in their net worth and are going higher on the list of the wealthiest people in the country, so are others witnessing a decline somehow in theirs.
This is why some of the people who made it to the list of the top 10 wealthiest people in Nigeria in 10, 5, or 3 years ago are no longer on the list today.
Some like Cletus Ibeto who was once the richest Igbo man at some point in the country and among the top 10 wealthiest people in Nigeria are no longer found on the list. As a matter of fact, you can hardly find Ibeto’s name among the top 20 financial giants in the country presently. He may back on the list someday but for now, he’s not.
The same goes for the billionaire Otedola who has always made it to the list of the top 10 richest persons in the country, with the sale of his company Forte Oil in June 2019, Femi Otedola’s net worth has dropped from $1.2 billion to $330 million, as seen on his updated Wikipedia profile.
That is why Otedola’s name is no longer among the top 10 richest persons in Nigeria 2020 as you will see in the list below.
So if you are searching for the wealthiest people in Nigeria presently, this article here is a complete list of them. Continue reading for more.
Top 10 Richest People In Nigeria As Of 2020 (Forbes)
1) Aliko Dangote
- Date of Birth: April 10th, 1957
- Source of Wealth: Cement, Sugar and Food Commodities business
- Estimated Net worth (Forbes): $10.1 Billion
Nigeria’s wealthiest man Aliko Dangote needs no introduction at all. All over the continent, his name is synonymous with business, money, riches and affluence.
Right now, the finance magazine estimates him to be worth about $10.1 Billion and this is his current net worth. Dangote started by doing rice and sugar business in the Northern part of Nigeria and Lagos.
Today he has founded and chairs a lot of businesses including Dangote Cement, Dangote Sugar and several other companies within and outside Nigeria.
He is presently working on his petroleum refinery and dairy factory.
Aliko Dangote’s story may not be qualified to be called a grass to grace story today, but it is definitely the story of how hard work, commitment and employing the right strategies can take one far in life.
2) Mike Adenuga
- Date Of Birth: April 29th, 1953
- Source of Wealth: Oil and Gas (Conoil) and Telecom (Glo)
- Estimated Net Worth (Forbes): $7.7 Billion
Mike Adenuga, fully named “Micheal Adeniyi Agbolade Ishola Adenuya” is the founder and Chairman of Globacom, a telecommunication giant in Nigeria and West Africa.
He is also the Chairman of the popular Petroleum and Gas company Conoil.
Earlier in March 2020, Forbes magazine reported Adenuga to have a net worth of about $7.7 Billion, making him the second-richest man in Africa.
However, according to the latest discovery, Mike Adenuga is presently worth about $9.1 billion.
Apart from making his money from his telecommunication company (GLOBACOM) and his oil and gas company (Conoil), Mike Adenuga Jr also owns a stake in Equitorial Trust Bank.
For his services to the nation, in 2012 the Nigerian government conferred on him “Grand Commander of the Order of the Niger (GCON)” the highest political honour given to individuals who have rendered extraordinary services to the nation.
Other recipients of this honour include Aliko Dangote, Oba Otudeko, Peter Obi and so on.
3) Abdul Samad Rabiu
- Date of Birth: August 4th, 1960
- Sources of Wealth: Cement, Sugar, Banking and Finance, Steel
- Estimated Net Worth (Forbes): $3.1 Billion
BUA Group’s Abdulsamad Rabiu made a major comeback on this year’s Forbes List of Richest Billionaires In Africa after dropping off the list in 2015.
The Chairman of BUA Group, a Nigerian conglomerate that is into manufacturing, infrastructure and agriculture has with his current net worth of $3.1 billion according to Forbes, climbed higher on this year’s list of Nigeria’s wealthiest businessmen.
From importing rice, edible oil, flour and iron and steel in 1988 his company BUA International Limited has grown to the height it is today.
4) Folorunsho Alakija
- Date of Birth: July 15th, 1951
- Sources of Wealth: Fashion, real estate, printing and oil and gas.
- Estimated Net Worth (Forbes): $1 Billion
Africa’s second richest woman, Folorunsho Alakija, is the vice-chair of Famfa Oil Limited.
She is also the managing director of the Rose of Sharon Group. A conglomerate which consists of the Rose of Sharon Prints & Promotions Limited, Digital Reality Prints Limited and she also has a stake in DaySpring Property Development.
Mrs Alakija apart from being numbered among the wealthiest persons in Nigeria is the richest woman in the country.
5) Jimoh Ibrahim
- Date of Birth: February 24th, 1967
- Sources of Wealth: Oil and gas, Transportation, Hospitality, Media
- Estimated Net Worth (Forbes):
Jimoh Ibrahim is the Chairman of Global Fleet Group, a business conglomerate with interests in Oil and Gas, Real Estate, Hospitality, Banking and Finance, Transportation and so on.
The Ondo State-born billionaire once contested for the governorship of his state under the platform of the All Nigeria People’s Party in 2003 but lost.
Among the companies under his Group includes NICON Insurance, Nigeria Reinsurance Corporation, NICON Luxury Hotel, Newswatch Magazine, Air Nigeria (the airline that was formerly known as Virgin Nigeria) and many others.
6) Pascal Uzoma Dozie
- Date of Birth: November 2nd, 1969
- Sources of Wealth: Banking and Finance
- Estimated Net worth (Forbes): $1 Billion
Simply addressed as Uzoma Dozie, this billionaire is the Chief Executive Officer and Founder of Sparkle, a Fintech company that connects individuals and businesses with digital solutions to improve their financial business and lifestyle activities.
The young billionaire in Nigeria Uzoma Dozie is also the former GMD and CEO of the popular commercial bank Diamond Bank before its merger with Access bank.
Pascal Gabriel Dozie, the father of Uzoma Dozie was the founder of Diamond Bank and successfully managed the promising financial institution before handing it over to his son in 2006.
7) Orji Uzor Kalu
- Date of Birth: April 21, 1960
- Sources of Wealth: SLOK Holding, Daily Sun and New Telegraph Newspaper
- Estimated Net Worth (Forbes):
Orji Uzor Kalu is the founder and Chairman of SLOK Holding, a consortium of companies that are involved in a wide array of operations.
The Group has interests in Oil and gas, trading, manufacturing, banking and finance, real estate, insurance, tourism and transportation.
From buying palm oil in the Southeast and selling in the Northern part of the country, Orji Uzor Kalu built the business that is today raking in millions for him.
The former governor of Abia State was so good in business even at the early stage of his life to the point that at the age of 26, the young man became the youngest Nigerian to receive the National Merit Award when President Ibrahim Babangida gave him the award.
8) Jim James Ovia
- Date of Birth: November 4th, 1951
- Sources of Wealth: Banking and Finance
- Estimated Net Worth (Forbes): $980 Million
Jim Ovia is the founder and Chairman of one of Nigeria’s leading banks, Zenith Bank PLC. He is also one of the richest people in Nigeria with a networth of around $980 Million.
The bank which he founded in 1990 is today one of the biggest financial institutions across Africa.
9) Haija Bola Shagaya
- Date of Birth: October 10th, 1959
- Sources of Wealth: Oil, Banking and Finance, Fashion, Real Estate.
- Estimated Net worth (Forbes): $700 Million
Bola Shagaya is among the richest women in Africa and also among Nigeria’s wealthiest people (male and female combined).
She is the Managing Director of Practoil Limited, an oil company in Nigeria. She is also a board member of Unity Bank Plc and Nepad Business Group.
10) Princess Fifi Ejindu
- Date of Birth: 1962
- Sources of Wealth: Fashion, Construction, Architecture
- Estimated NetWorth (Forbes): $600 Million
Princess Fifi Ekanem Ejindu is the founder of Starcrest Group of Companies.
The group has several companies under it that is into real estate, oil and gas, and building and construction.
She is one of the leading architects in the country and also among the richest women in Africa.
We have in this list revealed the top richest people in Nigeria presently.
Like we mentioned from the beginning, some of the names of the popular people like Femi Otedola who once dominated this list for years are no longer there.
They may still make a major comeback next year like Abdulsalam Rabiu, but for now, these are top wealthiest people in Nigeria.
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