There are numerous millionaires in contemporary Nigeria. Many people are curious about the net worth of the richest people in Nigeria. The most affluent people in the country have multiple income streams, including investments in various sectors of the Nigerian economy. Their wealth has made them prominent locally and internationally.
Source: UGC
Who are the richest people in Nigeria, and where did they get their riches? Read on to discover the wealthiest people in the country and how much they are worth.
Richest people in Nigeria in 2024
The richest people in Nigeria in 2024 are worth millions or billions of dollars. They are financially astute people who have invested in key sectors of the country’s economy.
20. Tony Elumelu – $700 million
Source: Getty Images
- Date of birth: 22 March 1963
- Age: 61 years (as of 2024)
- Source of wealth: Investments in financial services, real estate, hospitality, healthcare, power, oil, and gas
Tony Elumelu is the CEO of Heirs Holdings, a business conglomerate he started after retiring from the banking industry. His company has invested in financial services, real estate, hospitality, healthcare, power, oil, and gas. Tony Elumelu’s net worth is $700 million.
19. Jim Ovia – $980 million
Source: Getty Images
- Date of birth: 4 November 1951
- Age: 72 years (as of 2024)
- Source of wealth: Baking industry, telecommunication, property
Jim James Ovia’s net worth is $980 million. In 1990, Ovia founded Zenith Bank, one of the largest commercial banks in the country. He is the chairman and largest individual shareholder in the business.
He is not just a businessman – he is also involved in philanthropic work. He founded the Youth Empowerment ICT Foundation, an organisation focused on improving Nigerian youth welfare and helping them embrace ICT developments.
18. Igho Sanomi – $1 billion
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- Date of birth: 17 May 1975
- Age: 48 years (as of 2024)
- Source of wealth: Investments in telecommunications, shipping, aviation and real estate investments
Igho Charles Sanomi is one of the richest businessmen in Nigeria. Besides running successful businesses, he is a public speaker, geologist, and philanthropist.
He has invested in telecommunications, aviation, real estate, and shipping. Today, Igho Sanomi’s net worth is $1 billion.
17. Folorunsho Alakija – $1 billion
Source: Getty Images
- Date of birth: 15 July 1951
- Age: 72 years (as of 2024)
- Source of wealth: Fashion, oil, real estate and printing industries
Folorunsho Alakija is the richest woman in Nigeria. She is vice chair of a Nigerian oil exploration company called Famfa Oil. The firm has a stake in an offshore asset called Agbami Oilfield.
Her first company was a fashion label that sold to high-end clients, including the spouse of Ibrahim Babangida, the former Nigerian president. Folorunsho Alakija’s net worth is $1 billion.
Folorunsho Alakija is a philanthropist who donates to widows through the Rose of Sharon Foundation. Many Nigerians admire him.
16. Pascal Gabriel Dozie – $1 billion
Source: Getty Images
- Date of birth: 9 April 1939
- Age: 84 years (as of 2024)
- Source of wealth: Investments in banking
Pascal Gabriel Dozie is the founder of Diamond Bank, and his current net worth is $1 billion. He also owns shares in MTN Group, a South African multinational mobile telecommunications company.
15. Jimoh Ibrahim – $1.1 billion
- Date of birth: 24 February 1967
- Age: 57 years (as of 2024)
- Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate
Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist from Igbotako in Okitipua, Ondo State. He has a net worth of $1.1 billion. Ibrahim is the chairman of the Global Fleet Group, a large, diverse Nigeria-based conglomerate company.
The conglomerate has many subsidiaries in different cities of Nigeria, mainly Lagos and other African countries. It has interests in various sectors, including insurance, hospitality, transport, real estate, oil, and gas.
Jimoh Ibrahim is a published author of three books. He is also the publisher of the National Mirror Newspaper.
14. Danjuma Theophilus – $1.1 billion
- Date of birth: 9 December 1938
- Age: 85 years (as of 2024)
- Source of wealth: Political career, career in the Nigerian army, shipping, and petroleum exploration
Theophilus Yakubu Danjuma is a politician and retired Nigerian army lieutenant general. He had a long-running army career and played a crucial role in post-independence military and political events in the country.
After retiring, he founded the Nigeria America Line shipping company. He also founded COMET Shipping Agencies Nigeria and South Atlantic Petroleum Limited. Danjuma Theophilus’ net worth is $1.1 billion.
13. Femi Otedola – $1.1 billion
Source: UGC
- Date of birth: 4 November 1962
- Age: 61 years (as of 2024)
- Source of wealth: Investments in petroleum, shipping, real estate, and finance
Femi Otedola is the biggest shareholder of Forte Oil, a publicly traded company. The company has more than 500 gas stations across the nation.
He also has investments in shipping, real estate, and finance. Femi Otedola’s net worth is $1.1 billion. His company, Zenon Petroleum and Gas Ltd, specialises in distribution and marketing.
He has made considerable investments in other business spheres, such as finance, real estate, and shipping. In addition, he has invested in power generation in an effort to achieve sector liberalisation.
12. Leo Stan Ekeh – $1.2 billion
Source: UGC
- Date of birth: 22 February 1956
- Age: 68 years (as of 2024)
- Source of wealth: Investments in ICT
Leo Stan Ekeh is a businessman worth $1.2 billion. He owns Zinox Group and Konga. Zinox is a leading ICT ecosystem in Africa. It deals with computer and peripheral equipment manufacturing. On the other hand, Konga is an online electronics shop.
11. ABC Orjiako – $1.2 billion
- Date of birth: 2 October 1960
- Age: 63 years (as of 2024)
- Source of wealth: Oil and gas industry
Ambrose Bryant Chukwuemeka Orjiako, alias ABC Orjiako, is a trained medical doctor and business tycoon. He co-founded SEPLAT, a leading independent oil and gas company in Nigeria.
SEPLAT is listed on the London and Nigeria stock exchanges. ABC Orjiako’s net worth is $1.2 billion.
10. Andy Uba – $2.1 billion
Source: Getty Images
- Date of birth: 14 December 1958
- Age: 65 years (as of 2024)
- Source of wealth: Politics
In 2011, Andy Uba was elected the Senator of Anambra South Senatorial District in Anambra State. He started his political career back in his college days. Today, Andy Uba’s net worth is $2.1 billion.
9. Benedict Peters – $2.7 billion
Source: UGC
- Date of birth: 5 December 1966
- Age: 57 years (as of 2024)
- Sources of wealth: Oil and gas industry
Benedict Peters is one of the most successful entrepreneurs in Nigeria. He started his career in the oil and gas industry in the early 1990s. He worked closely with the founders of Ocean and Oil before establishing Sigmund Communecci in 1999.
In February 2008, he founded the Aiteo Group, the successor entity to Sigmund Communecci. Benedict Peters’s net worth is $2.7 billion.
8. Emeka Offor – $2.9 billion
Source: UGC
- Date of birth: 10 February 1957
- Age: 67 years (as of 2024)
- Source of wealth: Oil production
Emeka Offor is one of the richest entrepreneurs in Nigeria. He is a successful businessman, oil tycoon, and philanthropist. He is the founder and chair of The Chrome Group, an oil exploration firm with headquarters in Abuja. Emeka Offor’s net worth is $2.9 billion.
7. Orji Uzor Kalu – $3.2 billion
Source: UGC
- Date of birth: 21 April 1960
- Age: 64 years (as of 2024)
- Source of wealth: Furniture, manufacturing, and transportation, and political career
Orji Uzor Kalu is among the Nigerian billionaires you should know. He is a successful businessman and politician with a net worth of $3.2 billion. He is the sitting senator of Abia North Senatorial District.
He is also the CEO of SLOK Holding, a company with investments in banking, shipping, manufacturing, oil trading, and media. This business conglomerate has branches in Nigeria, South Africa, Guinea, Ghana, Liberia, Benin Republic, Botswana, and Korea.
6. Cletus Ibeto – $3.8 billion
- Date of birth: 6 November 1952
- Age: 71 years (as of 2024)
- Source of wealth: Cement, energy, and automotive parts production
Cletus Ibeto is the founder and chair of the biggest union in the Eastern part of Nigeria called Ibeto Group. The astute businessman and humanitarian started as a spare parts import vendor in his college days.
In March 1988, he established his auto spares factory called The Ibeto Group in Nnewi. In 1995, his company was one of the country’s largest manufacturers of auto spare parts.
He later founded Ibeto Petrochemical Industries Ltd., which blends oil lubricants and produces various petroleum products for both local and international markets. Today, Cletus Ibeto’s net worth is $3.8 billion.
5. Arthur Eze – $5.8 billion
Source: UGC
- Date of birth: 27 November 1948
- Age: 75 years (as of 2024)
- Source of wealth: Oil production, aviation
Arthur Eze is the Chief Executive Officer of Atlas Oranto Petroleum, one of Nigeria’s largest privately-held oil exploration and production companies. In 1992, he founded Triax Airlines following the deregulation of airlines in Nigeria.
Atlas Oranto Petroleum is not just Nigeria’s largest privately held oil business but also Africa’s largest holder of oil exploration blocs. Arthur Eze’s net worth is $5.8 billion.
4. Abdulsamad Rabiu – $5.9 billion
Source: Getty Images
- Date of birth: 4 August 1960
- Age: 63 years (as of 2024)
- Source of wealth: Cement production, sugar refining and real estate
Abdulsamad Rabiu is the founder of BUA Group, a company involved in cement production, sugar refining and real estate.
In 1988, he started a business that imported iron, steel and chemicals. He also inherited land from his father, a late successful businessman. He also established BUA International Limited for commodity trading, importing rice, flour, oil, and iron.
Eventually, the company grew and expanded into steel, the production of billets, and construction rolling mills. Currently, Abdulsamad Rabiu’s net worth is $5.9 billion.
3. Alafaa Kariboye-Igbo – $6.1 billion
Source: UGC
- Date of birth: 21 May 1981
- Age: 43 years (as of 2024)
- Source of wealth: Business investments in real estate, oil, gas, auto dealership, and entertainment
Alafaa Kariboye-Igbo is commonly known as Oil Money. The business tycoon was born into a low-income family, but he worked hard to become a wealthy man with a net worth of $6.1 billion.
The employer owns Oil Money Records, which helps upcoming artists to release music. He also has investments in real estate, oil and gas production, and vehicle dealership.
2. Mike Adenuga – $6.5 billion
Source: UGC
- Date of birth: 29 April 1953
- Age: 71 years (as of 2024)
- Source of wealth: Telecom and oil production
Mike Adenuga is among the richest people in Nigeria. He owns Globacom, a mobile phone network in the country that is the second-largest telecommunication operator in the West African nation. The telecom company has offices in Benin, Ghana, and Cote d’Ivoire.
Apart from this, the businessman is the owner of Conoil Producing Limited, one of the country’s biggest oil companies. Mike Adenuga’s net worth is $6.5 billion.
1. Aliko Dangote – $13.7 billion
Source: Getty Images
- Date of birth: 10 April 1957
- Age: 67 years (as of 2024)
- Source of wealth: Cement production, auto manufacture, and fertiliser production
Aliko Dangote is the wealthiest man in Nigeria. He is also the richest man in Africa. He is the founder and chairman of Africa’s largest cement producer, Dangote Cement. He owns 85% of the company.
Aliko Dangote’s firm started as a small business that specialised in trading. Today, the business has branches in Nigeria, Ghana, Benin Republic, and Togo.
The Dangote Group is famous for being the most influential industrial group in the Western Africa region. It has about 30,000 employees. Aliko Dangote’s net worth is $13.7 billion.
Recap of the top 20 richest people in Nigeria
| Ranking | Name | Net worth |
| 1 | Aliko Dangote | $13.7 billion |
| 2 | Mike Adenuga | $6.5 billion |
| 3 | Alafaa Kariboye-Igbo | $6.1 billion |
| 4 | Abdulsamad Rabiu | $5.9 billion |
| 5 | Arthur Eze | $5.8 billion |
| 6 | Cletus Ibeto | $3.8 billion |
| 7 | Orji Uzor Kalu | $3.2 billion |
| 8 | Emeka Offor | $2.9 billion |
| 9 | Benedict Peters | $2.7 billion |
| 10 | Andy Uba | $2.1 billion |
| 11 | ABC Orjiako | $1.2 billion |
| 12 | Leo Stan Ekeh | $1.2 billion |
| 13 | Femi Otedola | $1.1 billion |
| 14 | Danjuma Theophilus | $1.1 billion |
| 15 | Jimoh Ibrahim | $1.1 billion |
| 16 | Pascal Gabriel Dozie | $1 billion |
| 17 | Folorunsho Alakija | $1 billion |
| 18 | Igho Sanomi | $1 billion |
| 19 | Jim Ovia | $980 million |
| 20 | Tony Elumelu | $700 million |
2023 ranking of the richest people in Nigeria
Below is a look at the 2023 ranking of the richest people in Nigeria.
| Ranking | Name | Net worth |
| 1 | Aliko Dangote | $13.5 billion |
| 2 | Abdulsamad Rabiu | $7.6 billion |
| 3 | Mike Adenuga | $5.6 billion |
2022 ranking of the richest people in Nigeria
Below is a look at the 2022 ranking of the richest people in Nigeria.
| Ranking | Name | Net worth |
| 1 | Aliko Dangote | $13.9 billion |
| 2 | Abdulsamad Rabiu | $7 billion |
| 3 | Mike Adenuga | $6.7 billion |
2021 ranking of the richest people in Nigeria
Below is a look at the 2022 ranking of the richest people in Nigeria.
| Ranking | Name | Net worth |
| 1 | Aliko Dangote | $12.1 billion |
| 2 | Mike Adenuga | $6.3 billion |
| 3 | Abdulsamad Rabiu | $5.5 billion |
Who is the richest man in the world?
The richest man in the world, according to Forbes, is Elon Musk, with a net worth of $240.9 billion. Bernard Arnault & family come in second, with a net worth of $184.2 billion.
Is Aliko Dangote the richest man in the world?
No, he is not. Dangote is the richest man in Africa, with a net worth of $13.7 billion as of January 2024.
Who is the richest man in Africa?
The wealthiest man on the continent is Aliko Dangote, the founder of Dangote Cement. He is worth $13.7 billion.
Who is the richest man in Nigeria?
The richest person in Nigeria is Aliko Dangote, with a net worth of $13.7 billion.
The richest people in Nigeria have amassed wealth and riches from diverse income streams. They inspire others to pursue their dreams of becoming wealthy and influential.
Legit.ng recently published a list of largest states in Nigeria by land mass. With a population of almost 200 million people, Nigeria is Africa’s most populous country.
The country is divided into 36 states and one federal capital territory, which, in turn, are divided into 774 local government areas.
Source: Legit.ng
