Truth be told, medical practice isn’t one of the options to consider if you’re looking to become super rich. Yes, you’d be comfortable enough to cover most or all of your routine expenses without any problems, and you can enjoy all the societal respect that comes with being a doctor.
But you’re not likely to be a multi-millionaire except you have other sources of income or you’re fortunate to get employed by international organizations such as the WHO.
Richest Doctors in Nigeria
Despite the disappointing salaries that doctors receive in Nigeria, it is not to say that there are no doctors in Nigeria who are wealthy. Some doctors own businesses, are into politics, or have started private practices and have been successful. Among the many wealthy doctors in Nigeria, I will discuss the top 5 in this article.
1. Dr. A.B.C. Orjiako
Dr. Ambrose Bryant Chukwueloka Orjiakor, popularly called “ABC”, was born on the 2nd of October 1960 in Calabar, Cross Rivers State. His parents, late Mrs Rebecca Orjiakor and late Chief Daniel Obiesie Orjiakor, are from Umuchima, Uli, Anambra State.
After his primary education in Uli, he proceeded to Uli high school, where he had his secondary education between 1972 and 1978. While in secondary school, he majored in sciences and passed out with Grade 1. Since he was an exceptionally brilliant student, he had no issues gaining admission to study medicine and surgery at the University of Calabar, from where he graduated in 1985 to become a qualified medical doctor. He was the best graduating student of his set.
He started molding his leadership skills during his days as an undergraduate when he held the positions of African Regional Director of the International Federation of Medical Students and Chairman, the Standing Committee on Education of the African Medical Students Association.
After becoming a qualified doctor, Dr. ABC Orjiakor proceeded with his specialty training at the Lagos University Teaching Hospital and the National Orthopedic Hospital in Igbobi, Lagos. After a little over 10 years, he became a Fellow of the West African College of Medicine and the Nigerian Postgraduate Medical College. He specialized in orthopedic surgery and trauma management. After practicing for some years as a Specialist Orthopedic and Trauma Surgeon, he opted for the business world.
In 1996, Dr. ABC Orjiakor went into full-time business, investing in the Nigerian oil, pharmaceutical, shipping, banking, and insurance industries. And to date, his investments keep increasing across multiple sectors of the Nigerian economy. His quick rise through the ranks in the business world is widely linked to his strong ties with military bigwigs at the time, including former president Ibrahim Badamosi Babangida.
Dr. ABC Orjiakor is a devout Christian — a Catholic — and has been awarded the Papal Knighthood of the Order of St. Gregory. He is also a philanthropist who has supported lots of humanitarian endeavors through his Daniel Orjiako Memorial Foundation.
Although he’s not a politician, ABC Orjiakor has always had strong ties with politics. In the days of the return of the 4th republic in 1999, his financial support played a significant role in the emergence of Governor Chinwoke Mbadinuju from the platform of the People’s Democratic Party (PDP).
He also bankrolled the gubernatorial ambition of Prof Charles Soludo in 2011. According to him, he supported Soludo because he felt Soludo was more than likely to provide strong transformational leadership and lay a solid socio-economic foundation for the state.
He is happily married to one wife and they have 4 children.
ABC Orjiakor: Net worth, Investments & Assets
- As of present, some sources have it that Dr. ABC Orjiakor is worth about $1.2 billion (approximately N420 billion).
- He is currently CEO/Chairman of a number of companies. These include:
- Ordec Group
- Zebbra Energy Ltd (an energy company which owns the deepwater concession OPL 248 offshore Nigeria)
- Shebah Exploration and Production Co. Ltd (an explotaion firm with 40% stake on the offshore oil bloc OML, which produces over 8000 bpd)
- Helko Marine Service
- Neimeth Pharmaceuticals International
- He is also a board member of the Nigerian Chamber of Shipping as well as Green Resources ASA, a Norwegian company investing in Tree Farms in East Africa.
- In 2010, he co-founded Seplat Petroleum Development Company Ltd, which took over the operation of a Join Venture asset from Total, Eni, and Shell. It was the first Nigerian company to achieve such feat.
- In September 2017, Dr. ABC Orjiakor officially became the first tenant of the Eko Atlantic City, when the Alpha 1 Office in the international commerce city was acquired for use by his company Seplat Petroleum Development Company.
Dr. ABC Orjiakor is a successful businessman on all parameters. And it’s not surprising that he was once listed on Forbes among the silent billionaires in Nigeria. He is also on our list of richest Igbo men in Nigeria.
2. Dr. Godwin Maduka
Estimated net worth: $650 million
Godwin Maduka is a Nigerian-American physician, entrepreneur, and philanthropist who was born in 1959. The Las Vegas Pain Institute and Medical Center was founded by him. He was a driving force behind the 2008 renaming of his hometown, Umuchukwu, from Nkerehi.
Following his studies, Maduka relocated to Las Vegas in 1997 and secured employment. Before opening his practice at Red Rock Medical Group in Nevada, he served as an anesthesiologist at many hospitals, including Desert Spring United Methodist Church in Nevada. He established the Las Vegas Pain Institute and Medical Center in 1999, and subsequently, it expanded to six more facilities around Southern Nevada.
At Touro University Nevada, he teaches anesthesiology and pain management as an adjunct professor and oversees clinical faculty. In addition, he teaches surgery as a clinical assistant professor at UNLV School of Medicine.
3. Dr. Olubukola Saraki.
Estimated net worth: $100 million
Although Bukola Saraki is more popularly known for his political exploits, he is also a medical doctor. After obtaining his MBBS degree from the London Hospital Medical College of the University of London in 1987, he worked as a medical officer in the UK from 1988 to 1989.
However, he left the medical field to become the director of Societe Generale Bank (Nig) Ltd for ten years before joining politics in the year 2000 when he was appointed as Special Assistant to the President on Budget by President Olusegun Obasanjo.
Abubakar Bukola Saraki led the Senate as its 13th president from 2015 to 2019. In addition to his tenure as governor of Kwara State from 2003 to 2011, he was elected to the Senate in 2011 as a representative of the Kwara Central Senatorial District under the banner of the Peoples Democratic Party (PDP). He was then re-elected in the general elections of 2015 under the banner of the All Progressives Congress (APC).
4. Dr. Chris Nwabueze Ngige
Estimated net worth: $40 million
Chris Nwabueze Ngige is a Nigerian politician and physician who led President Muhammadu Buhari’s cabinet from 2015 until 2023 as Nigeria’s Minister of Labor and Employment. In April 2011, he was chosen as the Anambra Central Constituency’s senator. He served as the governor of Anambra State from May 2003 until March 2006.
Chris, a medical doctor by profession, earned his degree in 1979 from the University of Nigeria-Nsukka. Chris joined the civil service right after and worked in clinics at the state house and the National Assembly at various points. As a deputy director at the Federal Ministry of Health, he retired in 1998.
After entering politics, Dr. Chris Nwabueze Ngige joined the People’s Democratic Party (PDP). He served as the Peoples Democratic Party’s (PDP) South East Zonal Secretary and Assistant National Secretary in 1999.
He was controversially elected governor of Anambra State in 2003. Ngige’s 2003 win was declared void by an Election Tribunal chaired by Justice Nabaruma in August of 2006. He filed an appeal with the Nigerian Federal Court of Appeal; however, on March 15, 2006, the annulment was upheld in a ruling that gave Peter Obi of the All Progressives Grand Alliance (APGA) the win. Since there were no more appeals available, Ngige humbly accepted the ruling and urged the Anambra people to support his successor.
After being defeated in the 2015 election by Hon. Mrs Uche Ekwunife, who was sworn in as the senator for Anambra Central Senatorial District in the current 8th National Assembly of Nigeria, Ngige’s term as a senator of the Federal Republic of Nigeria came to an end.
President Muhammadu Buhari appointed Ngige as the minister of labour and employment on November 11, 2015. President Muhammadu Buhari nominated Chris Ngige in 2019 as a returning minister to be screened by the House of Assembly. He was sworn in by the president on August 21, 2019, to serve as the Minister of Labor and Employment.
5. Dr. Bankole A. Johnson
Estimated net worth: $30 million
Nigerian psychiatrist Bankole A. Johnson was born on November 5, 1959. He was well-known for his studies on addiction and held the positions of Chairman of the Department of Psychiatry and Neurobehavioral Sciences and Alumni Professor at the University of Virginia.
Johnson is primarily interested in the psychopharmacology of drugs used to treat addictions. He is well-known in this field for having discovered that topiramate, a glutamate antagonist and gamma-aminobutyric acid (GABA) facilitator, is a useful therapy for alcoholism. Johnson’s role in the HBO original documentary “Addiction,” which took home the Governors Award, a special Emmy Award from the Academy of Television Arts and Sciences, garnered him more national media recognition.
Johnson has agreed to take on a new role at the University of Maryland, where he will serve as Chairman of Psychiatry and head the neuroscience-focused Brain Science Research Consortium.
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