In this article, we’ll discuss the top 10 richest families in Nigeria. Keep on reading to learn about the families in Nigeria with the most enormous wealth. Let’s dive in.
The top 10 richest families in Nigeria would be discussed below:
The Dantata Family
One of Nigeria’s richest families is the Dantata family. The fortune of the Dantata family can be traced back to the colonial dispensation when Alhassan Dantata traded in kola nuts and groundnuts, supplied raw materials to large British trading companies, and several other investments across Nigeria and abroad. At the time Alhassan Dantata died in 1955, he was the wealthiest man in West Africa. Thereafter, the shares of his company, Alhassan Dantata and Sons were shared amongst his children, who have since expanded the family fortune even further. Some notable members of the family are Aminu Dantata, Ahmadu Dantata, Late Mamadu Dantata, Late Mudi Dantata, Dantata, Sanusi Dantata, and Abdulkadir Dantata, among others.
The Dangote Family
The name Aliko Dangote is a household name across Nigeria and has occupied the first position in lists of Africa’s richest men for eleven years running. With a $3,000 loan from his uncle, Aliko Dangote began importing and selling agricultural commodities in Nigeria. In 1977, Dangote established the Dangote as a trading company, growing it to become one of the largest industrial conglomerates in Africa with interests in cement, sugar, flour, and a slew of other investments in Nigeria and beyond. With Dangote’s estimated net worth being $13.9 billion according to Forbes’s mid-year 2022 ranking, the Dangote family is the richest family in Nigeria. Aliko Dangote, through his mother Alhaja Mariya Sanusi Dantata, is the grandson of prominent businessman Alhaji Sanusi Dantata, and great-grandson to Alhassan Dantata.
The Rabiu Family
In the 1970s and 1980s, Late Khalifah Isyaku Rabiu who was a foremost industrialist in Nigeria began setting the building blocks for the fortune of the Rabiu family. His son, Abdul Samad, at the age of 24, took over the affairs of his father’s company, going on to become one of the richest men in Nigeria with a fortune of $6.9 billion (according to Forbes 2022 mid-year rating). His company BUA Group has interests in cement, manufacturing, agriculture, real estate, sugar refining, and infrastructure among others. Other notable members of this family include the sons of Abdul Samad such as Isyaku Rabiu and Kabiru Rabiu, as well as his siblings such as Rabiu Rabiu and Nafia Rabiu.
The Otedola Family
The Otedola Family is another of Nigeria’s wealthiest families. The first prominent name of the Otedola family was the Late Sir Michael Otedola, who was the former governor of Lagos State from 1992 to 1993, during the Nigerian military regime. The current patriarch of the Otedola family is Femi Otedola, who is a very successful businessman with interests in shipping, finance, real estate, power generation as well oil and gas. Some of the companies in which he has substantial shares include Forte Oil and Zenom Petroleum and Gas Limited.
The Adenuga Family
The Adenuga family is one of the richest families in Nigeria. The head of the family, Mike Adenuga is currently worth approximately $ 7.3 billion, per the 2022 Forbes list. The bulk of this fortune comes from Globacom, which is Nigeria’s second-largest telecommunication operator, as well as Mike Adenuga’s stakes in Equitorial Trust Bank and Conoil, where he’s the chairman. His Globacom company also has a presence in other African countries such as Ghana and the Republic of Benin.
The Adeleke Family
The family from the loins of Late Chief Raji Ayoola Adeleke of Ede, Osun State, is presently among the richest families in Nigeria. The current stock of the Adeleke family comprises the families of Adedeji Adeleke, Ademola Nurudeen Adeleke, and the Late Isiaka Adeleke. The eldest son, Adedeji Adeleke is a business magnate with investments in real estate, banking, transport, and oil, with his net worth nearing a billion dollars. He is the CEO of Pacific Holdings Limited and the founder of Adeleke University. His children, including famous Nigerian musician, Davido, have also amassed wealth either sitting on boards in his companies, or in their endeavours.
Late Isiaka Adeleke was the first civilian governor of Osun State, from 1992 to 1993. Presently, Ademola Adeleke is the current governor of Osun. Other notable members of the Adeleke family include Adewale Adeleke, Bamidele Adeleke, Shina Adeleke, Nike Adeleke and Sharon Adeleke.
The Danjuma Family
The Danjuma family is another very wealthy family in Nigeria. The most prominent members of the Danjuma family are Theophilus Yakubu Danjuma and Musa Danjuma. After T.Y Danjuma’s time in the Nigerian military, he went into business, with a focus on shipping and petroleum, which has put him among the list of Nigerians with over a billion dollars in net worth. Some of T Y Danjuma’s notable money-spinning companies are South Atlantic Petroleum Limited (SAPETRO), Nigeria America Line, Comet Shipping Agencies Nigeria Limited, and stocks in companies such as Notore Chemical Industries, May & Baker Nigeria PLC and The Wheatbaker. Yuki Danjuma, TY Danjuma’s son, manages the Danjuma family real estate portfolio. TY Danjuma’s younger brother, Musa, is equally a successful businessman with his earnings coming from his law practice, shipping, and the paint industries, among others.
The Briggs Family
The Briggs family is one of the richest families in the Niger Delta region in the southern part of Nigeria. The genesis of this family’s wealth can be traced to the Late Chief O.B Lulu Briggs, who owned Moni Pulo Limited, the first indigenous company to be awarded an oil block in Nigeria. Subsequently, the company was awarded additional oil blocks in Abia, Akwa Ibom and Ondo States. His wife, Seinye Lulu Briggs and son, Dumo Lulu Briggs have further expanded the fortune of the Lulu Briggs family.
The Arthur Eze Family
The Arthur Eze family is also part of the top 10 richest families in Nigeria. The patriarch of the family, Prince Arthur Eze, is one of the richest men in Nigeria, thanks to his investments in oil, aviation, construction, and beverage production. The span of Arthur Eze’s business transcends Nigeria, reaching other African countries like Liberia, Guinea, Senegal, Sudan, and Sao Tome and Principe.
The Ibru Family
The Ibru family, from Ughelli in Delta State, is one of the richest families in the Niger Delta region, and Nigeria at large. It was Chief Peter Ibru that set the ball rolling when he pioneered frozen fish distribution in Nigeria, as well as making investments in brewing, construction, agriculture and petroleum, and much more. Michael Ibru, his son, inherited the wealth after his demise and expanded it further. Some notable assets where the Ibru family has substantial shares are Guardian Newspapers, Federal Palace Hotel, and Michael and Cecilia Ibru University.