Top 10 Richest People In Nigeria 2016 (Forbes)


Nigeria is a blessed country in all sense of the word.  Nigerians are undoubtedly among the richest people in Africa. In this write-up, you will get to learn about the top 10 richest men in Nigeria.

Top 10 Richest People In Nigeria 2016 (Forbes)

Aliko Dangote 

His net worth is $16.7 bn. He is the owner of Dangote Cement; though, he only owns 90% of the company. He is however termed the owner of the company because he is the main shareholder.

The Nigeria stock exchange gives ceiling of ownership to a minimum of 80%. This confirms him as the owner of the company. Aside the cement company, he also owns a number of other companies. He is 58 years old at present.

Nigeria is presently facing recession and this seems to have affected his business considerably. Be that as it may, he is still a force to reckon with in the Nigeria economy.

Dangote was a member of very rich family from Kano State. He started his business with money given to him by his uncle Dantata. He was able to groom the business to what it is today. He was born in 1957 as one of 20 other children.

He was able to inherit 3 cement trucks from his grandfather and this formed part of his business empire. Dangote Group is the largest in conglomerate presently in Africa.

Mike Adenuga

His net worth is $4 billion. He is a self-made billionaire and he is equally the founder of Globacom Nigeria limited, which is the second largest mobile telecommunication company in Nigeria. It is equally the only indigenous mobile telecommunication company in Nigeria.

Mike Adenuga is a business tycoon with interest in many aspects of Nigeria economy.  Presently, he is 63 years of age having been born on the 29th of April, 1953 in Ibadan, Oyo State, Nigeria. Adenuga’s official residence is located at Banana Island, Ikoyi, Lagos, Nigeria.

He received his secondary education at Ibadan Grammar School and got university degree from Northwestern Oklahoma State University as well as Peace University.

Mike Adenuga is the second richest man in Nigeria as at today. Over the years, he had spread the tentacles of his business to other countries, like Benin Republic and Ghana.

Adenuga is equally the owner of Equatorial Trust Bank. Also, he owns Conoil, a company formerly referred to as Consolidated Oil Company.

Folorunsho Alakija

She is the richest woman in Nigeria presently and one of the most influential women in Africa.  Her net worth is $1.9 billion. She is presently 63 years of age and she is one of the self made billionaires in Nigeria.

Alakija is rated as the second richest woman in Africa. Her oil company is called Famfa Oil and the company produces up to 200,000 barrels of petroleum per day.  Aside oil, she is equally involved in fashion designing.

Name of her tailoring company is Supreme Stitches and her clients are among the elite in the society.  Alakija is the owner of Rose of Sharon Foundation, a company she founded in 2008.  Purpose of the foundation is to provide helping hands to orphans and widows.

Folorunsho Alakija was born in 1951 at Ikorodu, Lagos Nigeria.  She resides in Lagos presently. Aside being a business tycoon, she is equally a well known philanthropist.  She gave birth to 7 children.  Another company to her name is the Digital Reality Prints Limited.

Theophilus Danjuma

His net worth is $1.1 billion and this wins him position of the 4th richest person in Nigeria he is yet another self-made billionaire. Presently, Danjuma resides in Abuja.  In his early days, he was a member of the Nigeria Army.

He actually retired from service as a General.  During the reigns of President Olusegun Obasanjo, he served as Nigeria’s Defense Minister. He was also Chief of Army Staff from 1979 to 1980.

Danjuma is the Chairman of South Atlantic Petroleum. Bulk of his wealth was acquired through crude oil. Danjuma was born on 9th of December 1938. He is presently 77 years of age.  He hails from Takum in Taraba State, Nigeria.  His years of service ranged from 1960 till 1979.

Danjuma started his education from St Bartholomew’s Primary School located in Wusasa. After his primary education, he proceeded to Nigeria College of Arts Science and Technology located in Zaria. He studied History in this institution on scholarship given by Northern Nigeria.

Femi Otedola

His net worth is $1 billion. Femi Otedola is yet another self made billionaire in Nigeria.  He is a happily married man and has 4 kids. Femi Otedola is the owner of Zenon Petroleum. He is yet another Nigerian that made his money through oil.

His oil company is one of the largest distributors of diesel in Nigeria of today. The company records an annual sale of $2 billion. He was Forbes Billionaires in 2009. However, share of his company Zenon Oil, dropped by up to 80% and this made him to drop out of the list.

Femi Otedola was born in 1962. He is presently 54 years of age.  He hails from Ibadan in Oyo state, Nigeria.  Name of his wife is Nana Otedola. Name of his father is late Sir, Michael Otedola. His father was formerly the governor of Lagos State, Nigeria between 1992 and 1993.

Abdulsamad Rabiu

His net worth is $1 billion, making him the richest person in Nigeria. Abdulsadam is 54 years of age and he is yet another self-made billionaire in Nigeria of today.

He resides in Lagos state, Nigeria and he is the founder of BUA Group, which is a conglomerate in Nigeria that has interest in various areas, like oil & gas, Steel, port concessions, manufacturing, sugar refining, cement production and real estate.

Abdulsadam was born on 4th of August 1960 and he hails from Kano state Nigeria.  His father was a popular industrialist in Nigeria in the 1970s and 1980s. In addition, Abdulsadam is the chairman of Nigeria bank of Industry.

Abdulsadam had his early education in Kano state. Afterward, he proceeded to Capital University in Columbus, Ohio. After his university education aboard, he returned to Nigeria to mange family business. He directed the company in the absence of his father, who was jailed by General Muhammadu Buhari over duty aversion of rice imports.

Tony Elumelu

His net worth is $1 billion. He is the 7th richest man in Nigeria. Elumelu is one of the most revered business leaders in Nigeria. The bulk of his fortune came from a host of investments. Equally, he is a major shareholder in Transcorp.

He was born on 22nd of March 1963 in Jos, Plateau state Nigeria.  Aside being an entrepreneur, he is also a well known philanthropist. He trained as an economist. Elumelu is chairman of a number of companies, like Transcorp, United Bank for Africa.

He got married in 1993. Name of his foundation is Tony Elumelu Foundation.

Elumelu attended Ambrose Alli University , Abraka Delta State and University of Lagos, Lagos.  Elumelu once acquired Standard Bank and turned the bank around.  He equally played principal role in the transformation being experienced by United Bank for Africa.

Today, the bank has transcended the coast of Nigeria and has extended its service to other African countries.

Orji Uzor Kalu

His net worth is $1 Billion. Name of his company is Slok Holdings. This company is one of the biggest conglomerates in West Africa and has up to $2.5 billion worth.  His company has interest in a number of sectors, like the media sector, oil trading, manufacturing, shipping and banking sectors.

Orji Uzor Kalu is a politician. He once served as two terms governor of Abia State. Orji Uzor Kalu was in office as governor between 1999 and 2007. He was born on 21st of April, 1960 and he is presently 56 years of age.

In addition, he equally owns a number of company, like new Telegraph, a news paper outfit, First International Bank Limited, and Daily Sun, which is another newspaper outfit.

Jim Ovia

He is a millionaire of no small means. Jim Ovia’s net worth is $850 million. He is a happily married man and has 2 kids. Jim Ovia resides in Lagos and he is a banker by training. In actual fact, he is the founder of Zenith Bank Group.

His bank has market capitalization of over $4 billion. Today, Zenith Bank is one of the largest financial services groups in Nigeria.

Jim Ovia was born on 4th of November, 1951. He is presently aged 64 years old. He hails from Agbor in Delta state Nigeria.
Oba Otudeko

This man is worth $550 million.  He is the owner of Honeywell Group. This company has interest in several areas, like real estate, marine transportation, oil & gas, flour milling and the likes.

Aside Honeywell Group, he equally owns Radisson Blu located in Lagos, Nigeria.   Oba Otudeko was born on 18th of august 1943. He is a banker and, an investors and also an entrepreneur.

He has interest in both domestic and international business.  Otudeko trained as a chartered accountant. In addition, he is a Chattered Corporate Secretary.

Over the years, he had been given appointments of managing several institutions, like London Business School, Arthur D. Little School of Management and the International Institute of Management Development in Lausanne, Switzerland.

Otudeko, aside being the chairman of Honeywell Group, is equally the chairman of Fan Milk of Nigeria Plc and Airtel Nigeria. During his active days, he resigned from his post as Chairman of First bank of Nigeria Plc. This was after service the company for up to 12 years.



Leave a Reply

error: Content is Read-Only!!