This is going to be an obvious list. I mean, you already know number one; so why am I writing it? Because we didn’t mention the other rich Nigerians in the African list. So, who are these other rich people in Nigeria? Let’s find out; here is a list of the top 5 richest people in Nigeria.
The information provided here is accurate as reported by Forbes.
5. Femi Otedola
- Net worth: $1.8 Billion (as of 2016)
- Africa Rank: #16 (as of 2016)
- World Rank: #1011 (as of 2016)
You might have noticed that I keep mentioning that the data is accurate as of 2016. This is because the numbers dropped off according to Forbes. While we may not have the accurate figures, we know that he is rich.
Femi is the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Forte Oil has more than 500 gas stations across the country. It owns oil storage depots and manufactures its own line of engine oils
4. Folorunsho Alakija
- Net Worth: $1.1 Billion
- Africa Rank: #19
- World Rank: #1941
Alakija’s source of wealth comes from oil exploration and trading. She is vice chair of Famfa Oil with a stake in Agbami Oilfield, a prolific offshore asset. Her first company was a fashion label whose customers included the wife of former president Ibrahim Babngida.
3. Abdulsamad Rabiu
- Net Worth: $1.5 Billion
- Africa Rank: #16
- World Rank: #1425
He is the founder of BUA Group, a conglomerate active in cement production, sugar refining and real estate. BUA group also owns Obu Cement which expanded its production with a new line in 2018.
2. Mike Adenuga
- Net worth: $9.2 Billion
- Africa Rank: #2
- World Rank: #156
Here’s an interesting fact about Nigeria’s top two billionares; they are also the top two billionares in Africa. Mike has made a fortune in telecom and oil production. Globacom, his mobile phone network, is the third largest operator in Nigeria with 43 million subscribers. His oil company, Conoil Producing, operates 6 oil blocks in the Niger Delta.
His net worth has remained stagnant since the last time we mentioned him in another list.
1. Aliko Dangote
- Net Worth: $10.6 Billion
- Africa Rank: #1
- World Rank: #136
What more do we need to discuss about him? He is so rich that Burna Boy made a song with his name as the title. Aliko Dangote is the founder and chairman of Dangote Cement, the continent’s largest cement producer. In addition to this, he also owns stakes in publicly-traded salt, sugar and flour manufacturing companies.