Update on the richest families in Nigeria. It is one thing for a person to come into money and a completely different thing for a family to be rich. When wealth circulates in a family it becomes a dynasty. The future of generations yet unborn is assured, and the fame of the family spreads abroad. As a matter of fact, there is more prestige when a person comes from a dynasty with old money to their name than when a person brandishes his new money. The wealthy families control most of the economic activities of any country.
In this post, we want to narrow our searchlight to Nigeria. We want to learn about the wealthiest, most famous and also most influential families that are in or from Nigeria. We want to learn about their business interests, as well as know a little about their history. Hopefully, they can motivate us too to work hard at whatever we do. Without any further ado let us now check out the Richest Families in Nigeria.
Top 10 Richest Families In Nigeria 2020
1. Ibru Family
The Ibru Family, the aristocratic family behind the Ibru Organization, is one of the oldest and richest families in Nigeria. They were at the forefront of politics in the 1990s, and are still very influential today. Alex Ibru was a former minister of internal affairs, while Olorogun Oskar Ibru is a former governor of Delta State. Alex Ibru had a long-running legal battle with a former Chief of Security of a former Head of State over an attempt on his life. Other prominent members of the Ibru Family are Oboden Ibru, Felix Ibru, and Cecilia Ibru.
The Ibru Organization is one of the largest conglomerates in Nigeria, with thousands of employees. They own Rutam Motors, Guardian Newspapers, The Ibru Seafoods, as well as various diversified ventures including Petroleum, Aviation, Oil and Gas, Agriculture. It is said that the Ibrus have invested heavily in vehicle transportation, brewing, and construction. Madam Cecelia Ibru was CEO of the now-defunct Oceanic Bank, which was acquired by Ecobank. Much of the Ibru fame and fortune was made by Chief Michael Ibru.
2. Briggs Family
The Briggs family which is now led by Chief Olu Benson Lulu-Briggs is another old and ridiculously wealthy family. They are the family behind the Moni Pulo Limited, which is a large, privately-owned oil and gas company. The company is headquartered in Port Harcourt but has branches in Lagos, and London. The company is the operator of OML 114 oil well. Mrs. Seinye Lulu-Briggs is another big figure in the Briggs Family; she is a reputable hotelier with a chain of hotels under her control. By merging the oil business with the hotels, they have been able to create a very efficient money-spinning venture. Another note-worthy member of the Lulu Briggs family is Chief Dumo Lulu-Briggs who is the CEO of Moni Pulo Limited.
3. Dantata Family
The Dantata Family is an old name in Nigeria and a name that is synonymous with wealth. The richest black man at the moment Alhaji Aliko Dangote is the current flag bearer of this family; he is the nephew of the late Alhaji Al-Hassan Dantata. The Dantata family have long been commodity dealers; Al-Hassan Dantata dealt on kola nuts, groundnuts, and other commodities, and he set up his nephew Aliko Dangote who started by dealing on rice. From there he went on to cement, he now deals also in flour, sugar, production of spaghetti and other items. Dangote is set to launch the biggest private refinery in Africa, and the Dantata Family have also ventured into real estate, they have their own estate in the Federal Capital Territory.
4. Okoya Thomas Family
The Okoya Thomas Family was built by the efforts of Molade Okoya- Thomas. Who served as Chairman of many companies and organizations, some of which are CICA (Nigeria) Ltd., Transcap Nigeria Ltd., Oktom Investment Ltd., Itochu Nigeria Ltd., Chiyoda Nigeria Ltd., as well as Anchoria Investment & Securities Ltd. Molade Okoya Thomas also served as Director of NFI Insurance Company Plc and GatewayBank Plc. He paid his dues politically by contributing to the development of Lagos state by serving in numerous committees some of which are Lagos City Council between 1971–1975, member Lagos State Development and Property Corporation. He was Chairman Board of Trustees Glover Memorial Hall and Tom Jones Hall.
The Okoya-Thomas Family are the people behind the Eleganza Group, which is a conglomerate with interests in the manufacturing of plastic products, construction, vehicle importation and sales and other ventures. Another prominent member of the Okoya Thomas Family is Princess Olajumoke Abidemi Okoya Thomas who is now a member of the Federal House of Representatives representing Lagos Island Federal Constituency.
5. Fajemirokun Family
The Fajemirokun Family are the name behind the Henry Stephens Group of companies which has several investments in such areas as cement and building materials, engineering, banking, insurance, shipping, ship broking as well as oil prospecting. The family was built by the efforts of Henry Oloyede Fajemirokun who will forever be remembered for Henry Stephens, Rank Xerox Nigeria, and the Nigerian-American Merchant Bank, not forgetting his work with ECOWAS bank, which is now called Ecobank Transnational (ETI).
6. Tejuosho Family
The Tejuosho family, among the richest families in Nigeria, is a famous name in the country, especially in southwestern Nigeria. The family has a good name, as well as wealth that is well spread among them. Some prominent members of the Tejuosho family are Bisoye Tejuosho a wealthy businesswoman. Adefunmilayo Tejuosho is another prominent member of the Tejuosho family. She is a politician, a lawyer, and a member of the Lagos state house of assembly. Lanre Tejuosho is another prominent member of the Tejuosho Family; he is a Senator and a medical doctor.
7. Tinubu Family
For a long time, the Tinubu Family has been influential in Lagos state. Today, headed by Ashiwaju Bola Ahmed Tinubu, they are the most powerful people in Lagos State. Bola Tinubu was a senator in the truncated 3rd republic and was a 2 term governor of Lagos State. Today he is the kingmaker in the state, and the 3 governors that have succeeded him have ascended to the seat through his endorsement. He is also the national leader of the ruling APC.
Another prominent member of the Tinubu Family is Oluremi Tinubu who is the Senator representing Lagos Central Senatorial District at the Nigerian National Assembly. Their daughter Iyabo Tinubu Ojo is the Iya Oloja (chieftaincy title of commerce) of Lagos. Some of Tinubu’s interests include TVC (a private television station) Leadership Newspapers, Lagos Intercontinental Hotels, and so on.
- 8. Saraki Family
The Saraki family is one of the richest, highly respected, and politically influential families in Nigeria. In fact, they are a political dynasty. The father Olusola Saraki was governor of the state, and then his son Bukola Saraki took over the seat from him. After the expiration of his 8-year tenure, he became senator, even rising to become the Senate President. Another person worthy of mention is his sister Gbemisola Saraki who is also an influential politician.
9. Folawiyo Family
Chief Wahab Folawiyo founded Yinka Folawiyo and sons, a trading company that dealt with import and export of various commodities, most notably the distribution of cement for which they became famous. Yinka Folawiyo group is now run by his son Tunde Folawiyo who has diversified the company’s interests into shipping, energy, real estate, and agriculture.
10. Igbinedion Family
The Igbenedion Family, tenth richest family in Nigeria, was established by Chief Gabriel Osawaru Igbinedion, who is the Esama of the Benin Kingdom in Nigeria. The title Esama means the “Son of the people.” His fame has spread so much that he is mistaken for a king. He is a chief and was made a chief by the grace of the Oba of Benin. Another notable member of the Igbenedion Family is Lucky Igbinedion who was governor of Edo state. The family has many business ventures including Igbinedion University, Okada, and Okada Air.
Conclusion On The Wealthiest Families In Nigeria:
Our writing about this topic does not mean that we endorse Aristocracy. Nigeria is an open market where anybody, regardless of family name can succeed. It takes a special kind of person to consistently do great things, and raise children who will manage the assets he worked hard to leave behind. We have only highlighted some people who have done so successfully. Hopefully, you too can excel at whatever you do, and can one day get a mention in a list such as this.
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Tag: Richest Family In Nigeria.