Top 10 Richest Business Men In Nigeria


Nigeria undoubtedly is blessed with human and natural resources with the highest number of successful business men. They cut across the country with lots of investments empowering the country’s economy.

The top 10 richest business men in Nigeria are:

  1. Aliko Dangote famous Nigerian business magnate, entrepreneur, investor, Philanthropist and Chairman Chief Executive of Dangote Group. He is into production of cement, flour, sugar and other food commodities in Nigeria and other African countries.

He was born on the 10th of April, 1957 to a wealthy Muslim family in Kano State Nigeria named Mohammed Dangote and his mother Hajia Mariya Sanusi Dangote.

Aliko Dangote had a Bachelor’s degree in Business Studies and Administration from the University of Al-Azhar in Cairo, Egypt.

In 1977, Aliko Dangote was said to have borrowed money from his uncle to start a business in Lagos Nigeria. Later that year, he successfully established Dangote Group.

Due  to his hard work, strong determination to succeed and leadership qualities, he expanded the business into an empire which later galvanized into a multi billion dollars conglomerate with all of his operation in Nigeria, Ghana, Togo, Benin and other African countries.

As at today, Aliko Dangote conglomerates cover sugar, cement, flours, drinks confectionaries, pasta etc. His business which was ordinary expanded to be the largest manufacturing industry not only in Nigeria but African countries including sugar refinery, cement, flour amongst others. He equally bought a large piece of land from the Nigerian Port Authority, Apapa, Lagos where he established his flour Company and currently building a refinery in Nigeria to commence operation in 2019.

Aliko Dangote’s other investments include real estate, banking, transport, textiles, oil and gas.

In 1990, he approached the Central Bank of Nigeria to manage their fleet of staff buses, a proposal that was graciously accepted by the CBN. He equally has investments in salt, fish, pastries, fertilizer and others both in Nigeria other African countries.

Dangote has also diversified into telecommunication with about 14,000 kilometres of fibre optic cables to supply to Nigeria and some other African countries.

In January 2009, Aliko Dangote was confirmed as having the highest employer of labour in construction Industry and was subsequently honoured by the Federal Government of Nigeria.

Dangote’s net worth as at March 2018, was placed at $41.1 billion dollars, the richest in Nigeria and Africa and was ranked by the Forbes Magazine as the 23 richest in the World.

  1. Michael Adeniyi Agbolade Ishola Adenuga Jr, GCON is another Nigerian billionaire business man, and the second-richest person in Nigeria was born 29 April 1953.
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He worked as a taxi driver to help fund his university education abroad and he graduated from Northwestern Oklahoma State University and Pace University, New York, with degrees in Business Administration.


His company Globacom is Nigeria’s second-largest telecom operator, and has a presence in Ghana and Benin and other African countries.


He owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company). Forbes has estimated his net worth at $5.8 billion as of 2017, which makes him the second-wealthiest Nigerian behind Aliko Dangote.

He was named African Entrepreneur of The Year at the first African Telecoms Awards (ATA) in August 2007.


Adenuga’s real time net worth is placed at over $5 Billion dollars and second richest in Nigeria as of now.






  1. Orji Uzor Kalu: is rated one of the richest men in Nigeria.

Uzor whose successful journey started at a tender age in his  early twenties, with just $35 dollars he received as loan from the mother, went into palm oil which he used to buy from South East and sold in the north market part of this country which dated back to his university days.

His series of led protest in the university saw Uzor finally expelled from the school which of course marked his firm consolidation of his wealth. He never went back to the university.

He has series of investments outside the oil business cut across the country through his SLOK Holding such as furniture company, Adamawa Publishers Ltd, SLOK Vegetable Oil, Paper Factory, SLOK United Kingdom, SLOK Ghana, Togo, guinea, South Africa, Cotonou, Sun Publishers and First International Bank Ltd among others.

Orji Uzor Kalu has a net worth of about $5 billion dollars.

  1. Tony Elumelu: Is a graduate of economics, a philanthropist and entrepreneur. With large investments like Heirs Holdings and Transcorp, Tony Elumelu Foundation, he has empowered thousands of entrepreneurs across African continent.

In 2005, he was involved in the acquisition of UBA and transformed the bank from a Nigerian bank to a Pan African institution with branches in over 19 African countries.

Through his Heir Holdings, Tony Elumelu has successfully built on his investments in the areas of financial services, energy, real estate, hospitality, agric business and health care sector in most African countries.

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He has served as an Adviser to USAID’S Private Capital Group for Africa, Co-Chairman of the Aspen Institute Dialogue Series on Global Food Security, Chairman, Ministerial Committee for the establishment of World –Class hospitals and diagnostic Centres across Nigeria and member of the Global Advisory Board of the United Nations Sustainable Energy for all initiative.

Tony Elumelu is one of the richest men in Nigeria with a net worth of over $1.5 billion dollars.



  1. Femi Otedola: son of the former Lagos State governor, Michael Otedola.

He is the Chairman of Forte Oil Plc and Zenon Petroleum and Gas.

His real estate property cut across different parts of the world – London, Duba and New York.

He is known to be a Philanthropist. Through this platform, over 1000 students benefited and over N300 million for the completion of Nationa Ecumenical Centre, Nigerian praying centre of Christian worship in Abuja.

Aside oil, Otedola’s real investments are believed to cover shipping, real estate and finance with an estimated net worth of over $2.5 billion dollars and one of the 10 richest Nigerian.

  1. Theophilus Danjuma: is another billionaire and philanthropist and retired general and a man acclaimed to have shaped the country’s economy through his investments.

His business centres on oil with Danjuma as the Chairman of South Atlantic Petroleum (SAPERO).

A man believed to have had a humble beginning, graduated in History from Ahmadu Bello University, Zaria. Since his retirement from the Nigerian Army in 1979, he has focused more in business. His wealth runs into billionaires of Naira such that the retired general once cried out that he didn’t know what to do with his money.

Theophilus is indeed one of the 10 richest men in Nigeria with estimated net worth of over $2.5 billion dollars.

  1. Folounsho Alakija: A Nigerian woman billionaire who many believed has unseated Oprah Winfrey to become the richest black African woman in the world.

Her line of business centres on oil, printing and fashion designing making her the richest and heavy weight African Woman.

One of her investments, Farma Oil Ltd. set up in 1993 earns her over $10 million dollars every day in profit personal investments in real estate worth $100 million dollars.

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As a Philanthropist, she demonstrated her kindness through Rose of Sharon Foundation, a non governmental organization empowering widows and orphans by giving them scholarships loans and grants.

Many students have benefited from this laudable programmes. Folounsho Alakija is indeed one of the 10 richest in Nigeria with estimated net worth of over $2.5 billion dollars.

  1. Cosmos Maduka (widely known as CEO of Cosharis Group of Companies) hails from Nnewi in Anambra State Nigeria.

A successful business man who made it through dint of hard work inspite of the numerous of challenges which surrounded his child hood background, he stands out a successful business man with conglomerates of business including ICT, banking, Automobiles, beverages and a number of other businesses.

His net worth is over $2 billion dollars according to Forbes report and indeed one of the richest in Nigeria.

  1. Ifeanyi Uba: Another African business magnate also from Anambra is a successful man and one of the 10 richest men in Nigeria.

He is the CEO and manager of Capital Oil whose assets base cut across Nigeria and a number of African countries with over $2 billion dollars net worth.

  1. Vincent Amaechi Obianodo: (widely known as the Young Shall Grow) is another successful business man who made the list of 10 richest men in Nigeria.

He is indisputably rich man who started from the scratch  many years ago in the 70’s to be precise. In addition, he has in recent time diversified his business into other areas like hotels, oil and gas etc with an estimated net worth of over $2 billion dollars.

To sum up, the top 10 richest business men in Nigeria no doubt have contributed largely to the growth and development of the Nigerian economy through their huge investments over a long period of time.

They stand out as the Strong Pillar to the country’s growing economy. We wish them more successful business years ahead.







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