Who are the richest Businessmen in Nigeria presently? – People see things differently in Nigeria. In the Nigerian society, while some people are pessimistic about starting a business because they fear they won’t achieve success, there are some individuals who are brave enough to kick-start business in the country and are doing quite fine. Their businesses have grown into such big corporations that are now employing tons of people and has generated a lot of wealth for them. They have created large firms that even have stakeholders, and they earn reasonably well with their money.
In this article, we will explore the top ten richest businessmen in Nigeria, and we will attach their net worth too.
Let’s get started;
Top 10 Richest Businessmen In Nigeria 2020
1. Aliko Dangote
On top of the list is Mr. Aliko Dangote. Many people are not surprised that this man has been able to maintain the position for years now. He is not only the richest man in Nigeria but the richest in the whole of Africa. Since he is a businessman (the founder of Dangote cement), we are starting with him here.
His firm presently produces over 35 million metric tons of cement each year, and it keeps producing every now and then. In fact, it was made known that there are plans to multiply the output in the coming years, and it is expected that the activities should increase his wealth.
According to reports, Dangote’s net worth was over 14 billion U.S. dollars, and he was even ranked to be the 100th man in the ranking of World’s U.S. Dollar Billionaires.
Aside from his activities in the cement industry that keeps fetching him a lot of money, Dangote also invests in other ventures. He also has different businesses that produce things like flour, sugar, and even salt. So, it is not surprising that he is worth over 14.1 billion U.S. dollars.
2. Mike Adenuga
Mike Adenuga is one ‘silent’ billionaire in the country, as it appears the business guru doesn’t love too much attention. Mike is the founder of Globacom – an indigenous Telecom firm that has employed a lot of Nigerians, and what is worth a lot. In fact, according to some statistics, there are some 40 Million people that uses the network – helping Mike get richer.
Additionally, as a tactical businessman, he also invested in the oil sector. He is a player in oil production, and he owns Conoil. All these fetches him a reasonable amount of money, and it is not too surprising that he is said to be worth close to 9.4 billion U.S. dollars.
3. Abdul Samad Rabiu
Abdul Samad Rabiu is synonymous with the famous Bua Group. He is one of the richest men in the world as a whole, and he is the third on the list of richest businessmen in Nigeria. A large chunk of his wealth is attached to Bua Group – the firm he established some years back. Their job is to indulge in the real estate industry, cement-making, as well as refining sugar.
It is reasonable to add that there are various firms attached to the Group, such as Obu Cement, Kalambaina Cement, and Cement Co.
It was made known that he is worth over 1.6 billion U.S. dollars (according to a very popular source – Forbes).
4. Igho Charles Sanomi II
One of the major things that set him apart is the fact that he is pretty young. In fact, it is believed that he is the youngest businessman in Nigeria. In case you are still wondering where his wealth comes from, we should note it that he earns most of his money from the Nigerian oil industry.
Igho is boss of Taleveras Group, and they invest primarily in into oil and gas. In fact, it was said that his net worth is close to 1.3 billion U.S. dollars.
5. Femi Otedola
Femi is quite popular due to various reasons, and he is famously known to be a lover of the oil and gas industry. He makes a lot of money from the sector, and for some time now, he remains one of the richest businessmen in the country.
We should also add that Femi’s two most popular firms are Forte Oil PLC and Zenon Petroleum and Gas Limited, although he also has investments in other colonies operating in the country – including the likes of Swift Insurance, SeaForce Shipping Company Limited and FO Properties Limited.
According to some sources, Femi is worth up to 1.2 billion U.S. dollar, making him the Fifth guy on our list.
6. Theophilus Danjuma
One of the things you should have noticed already is that a handful of those on the list of richest businessmen in Nigeria are dealing in the Oil and Gas industry. Well, it is actually the basis of the Nigerian economy, and so, some things should not be too surprising.
There are a lot of businesses built around the industry, and many people have earned a lot from it. One of them is this man known as Theophilus Danjuma, who is the owner of South Atlantic Petroleum. His business is not only limited to the country, but it is also touching other African countries.
Apart from his activities in the oil industry, the man also has invested in real estate and manufactures urea fertilizers. Apart from this, Danjuma also has a shipping company. He is said to be worth like 750 Million U.S dollars some years back.
7. Tony Elumelu
While a lot of people are only looking towards oil as a means of getting rich and all that, some folks have proved that it should not only be so. Someone like Tony has spread his tentacles around stuff like agriculture and hospitality, and he earns a lot from there.
Tony Elumelu is not only popular within Nigeria alone, but only known all over Africa for different reasons. He established Transcorp, and the firm has become one that fetches him a lot of money.
Tony is a big player in the country’s banking industry, and apart from his activities via the United Bank of Africa, he also has various real estate in different places in the country. He is said to have a net worth of about 700 million U.S. dollars, making him the seventh man on our list.
8. Jim Ovia
Not everyone can establish a successful bank. Jim Ovia was able to found a bank – Zenith Bank – that keeps flourishing till this moment.
Zenith Bank is one of the biggest financial institutions in the country, and it is one of the richest too. The bank has tons of customers, as well as pockets of branches in different places in Nigeria. Therefore, Jim Ovia remains a tactical businessman filled with the appropriate skills needed to run a business.
Apart from his exploits in the banking industry, Jim also invested his money in real estate and the telecom industry, which explains why his net worth is about 550 million U.S. dollars, making him the eighth richest businessman in Nigeria.
9. Oba Otudeko
One of the men that has been on the lost for a very long time is Oba Otudeko, the founder of Honeywell Group. The firm has given him a lot of wealth, and he has been able to employ tons of Nigerians, contributing positively to the progression of the economy.
It was made known that his estimated net worth is about 550 million U.S. dollars.
10. Orji Uzor Kalu
At the bottom of the list is Orji Uzor Kalu, a man who started from the bottom, but has been able to grow his way to the top. His story is an inspiration that should encourage anyone not to feel limited but should be propelled to start with whatever you have with you and keep moving to the top.
It was made known that he started his business of trading rice, palm oil, and sugar with borrowed money, and has become a millionaire as a young chap. He continued to expand and was able to become a governor in one of the Nigerian states (Abia State) from 1999 to 2007.
The estimated net worth of this man is actually about 330 million U.S. dollars, and we expect him to increase his fortunes in the coming years.
Here we go. Are you challenged at all? Are you encouraged at all? You can also find yourself on a list like this somewhere in the near future with hard work and dedication and commitment.
Tag: Richest Businessmen In Nigeria.