10 Richest Families in Nigeria (Forbes List, 2023)


There are several families calling the shots in terms of wealth in the country.

In this post, we have highlighted 10 of these families.

Richest families in Nigeria

10 Richest Families in Nigeria (Forbes List, [year])

#1 Briggs Family

Chief Olu Benson Lulu-Briggs is one of the richest men in the country. He is the predecessor of the Briggs family and the founder of Moni Pulo Limited (MPL), a private indigenous oil and gas exploration and production company.

MPL is located in Port Harcourt but has offices in Lagos and London. The company is known for its operational efficiency of international standard and it is the sole operator of the OML 114. Also, MPL applies its expertise to the operations of OPLs 231, 234 and 239.

The wife of Chief Lulu-Briggs, Mrs Seinye Lulu-Briggs is the Chief Executive Officer of Rachael Hotels Limited. She is a seasoned administrator and an accomplished businesswoman. She worked in the Civil Service for a year before proceeding to a Design Research Centre where she was the Office Manager.

After leaving this firm, she began her sojourn into the financial sector and subsequently business.

Chief Dumo Lulu Briggs is another affluent member of the Briggs family. He was the pioneer Executive Director and Chief Operating Officer of Moni Pulo Limited from 1995 to 2002. He is a trained lawyer and a member of the Nigeria Bar Association (NBA).

#2 Ibru Family

The Ibru family are the ones behind the Ibru Organization which was established in 1956. The organization is one of the largest conglomerates in the country with over 10,000 employees.

The organization has diversified business interests which include shipping, agriculture, aviation, banking as well as oil and gas.

The founder of the Ibru Organization is Michael Ibru. Prior to founding the organization he worked at the United Africa Company from 1951 to 1956 before partnering with an Englishman Jimmy Large to form the Laibru General Trading Company

In 1957, Ibru began distributing frozen fish in Nigeria; he was a pioneer in this business. He would later form the Ibru Sea Foods, a company through which he imported frozen fish and sold them using the back of truck. The business grew and he was able to partner with a prominent Japanese firm.

Over time, Ibru expanded his business to vehicle transportation, distribution and fruit growing, brewing, construction and petroleum distribution.

Some other prominent members of the Ibru family include Michael’s eldest son Olorogun Oskar Ibru, Alex Ibru, Felix Ibru, Oboden Ibru and Cecilia Ibru

Alex Ibru is the chairman of Rutam Motors and he was an ex-minister of Internal Affairs between 1993 and 1995. Felix Ibru was a former governor of Delta State. Prior to becoming governor he was the founder of an architectural firm. Cecilia was the former Managing Director and Chief Executive Officer of Oceanic Bank.

#3 Okoya-Thomas Family

Prince Molade Okoya-Thomas is the progenitor of the wealthy Okoya-Thomas family. He was the chairman of CFAO Nigeria Limited prior to his death on the 2nd of February 2015. His father was the first local staff of CFAO and he served the company for 52 years.

Prince Okoya-Thomas trained as an accountant at the Columbia University in New York City in 1981. After his graduation, he return to Nigeria to begin his career as an accountant with CFAO.

He eventually rose to become the chairman of the company. Okoya-Thomas was also the Director of Transcap Nigeria Limited, NFI Insurance Company Plc, Gateway Bank Plc and Niger Motors Industries Limited. He was also the Chairman of Studio Press Nigeria Limited.

Another prominent of the Okoya Thomas family is Princess Olajumoke Abidemi Okoya-Thomas. She is a member of the Federal House of Representatives of Nigeria representing the Lagos Island I Federal Constituency of Lagos state.

#4 Dantata Family

The Dantata Family is arguably the richest families in the country with the billionaire businessman Aliko Dangote also being related to this prestigious family.

Sanusi Dantata was a Nigerian entrepreneur and the son of Alhassan Dantata. His father, Alhassan was a Northern Nigerian trader in kola nuts, ground nuts and distributor of European goods. He used to supply the large British trading companies with raw materials. When he died, he was said to be one of the wealthiest men in West Africa.

The other members of the family include:

  • Ahmadu Dantata (1916-1960): son, a politician
  • Alhaji Abdulkadir Dantata: grandson
  • Alhaji Mudi Dantata (1918-2005), son, a successful Businessman
  • Aliko Dangote (1957- ): great grandson, a billionaire
  • Aminu Dantata (1931- ): son, a businessman
  • Mamuda Dantata (1922–1983): son, founder of the West African Pilgrims Association and a currency trader
  • Sanusi Dantata (1917-1997): son, a successful businessman

#5 Fajemirokun family

The Fajemirokun family is one family that doesnt currently feature prominently on the rich list but their investments still exist in various sectors of the economy.

The precursor of this family, Henry Oloyede Fajemirokun was a trade unionist that later became one of the major Nigerian industrialists and businessmen.

Fajemirokun was the one that led the negotiations to establish a merchant bank bringing in First Bank of Boston (later Bank of Boston). This would later lead to the establishment of Nigerian-American Merchant Bank Limited (NAMBL).

He also founded Henry Stephen, a pioneer company in the Nigerian Oil industry. It was the first indigenous private oil company to get an offshore exploration license in the country’s first ever offshore licensing round of oil prospecting licenses (OPL) in 1970.

#6 Tejuosho family

Initially, the most prominent member of this family was Bisoye Tejuoso, a prominent Nigerian businesswoman from Abeokuta. Her father was an Egba farmer and a Chief in Abeokuta.

She is known to have established Teju Industries; a firm specialized in foam manufacturing. She is the mother of Oba Adedapo Tejuosho.

Adefunmilayo Tejuosho is another prominent member of the Tejuosho family. She is the wife of Prince Kayode Tejuosho. She is a trained lawyer and a politician and the fourth term Lagos State House of Assembly legislator, representing Mushin Constituency I. Funmilayo Tejuosho is also the chairperson of the Lagos State House of Assembly Committee on Finance.

Lanre Tejuosho is another prominent member of the Tejuosho family. He is the son of His Royal Highness Oba Adedapo Adewale Tejuoso, the Osile of Oke Ona of Egbaland. Lanre Tejuosho is a senator and a trained medical doctor. He is the Chairman Senate Committee on Health.

#7 Tinubu family

The forerunner of the Tinubu family is Bola Ahmed Tinubu. He was the former governor of Lagos state. He has an estimated worth of over $30 million making him one of the richest politicians in the country.

Another prominent member of the Tinubu family is his wife, Oluremi Tinubu. She is currently a senator of the Federal Republic of Nigeria.

#8 Saraki family

Some of the prominent members of the Saraki family include Olusola Saraki, Bukola Saraki and Gbemisola Saraki.

Olusola Saraki was a Senator of the Second Republic. He was also the chairman of the defunct Societe General Bank. He died in 2012.

His son, Bukola Saraki is the current Senate President of the Federal Republic. Prior to becoming senator, he was the governor of Kwara state between 2003 and 2011. Bukola’s sister, Gbemisola is also a senator.

The Saraki family is one of the richest political families in the country.

#9 Folawiyo family

The predecessor of the popular Folawiyo family is Chief Wahab Folawiyo. He was the founder of Yinka Folawiyo and sons, an import and export business which later became the Yinka Folawiyo Group. Yinka Folawiyo Group has investments in energy, agriculture, shipping, and real estate. The group is current managed by his son, Tunde Folawiyo. Tunde is currently worth $650 million according to Forbes.

#10 Igbinedion family

The progenitor of the Igbinedion family is Chief Gabriel Igbinedion.  He is the Esama of Benin, a title conferred on him by the Oba Akenzua II.

Chief Igbinedion has a vast business empire which include a private bank, oil refinery, diamond, gold and marble mines, a private university (Igbinedion University), a private TV station, a radio station and a large number of hotels and real estate spread across the globe.

Lucky Igbinedion, a former governor of Edo state is one of the sons of the Esama.


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