October 5, 2019

These Are The 10 Richest Men In Nigeria 2019 - 2020

Nigeria is a known country that have produced billionaires hugely. A lot of empires have been built by Nigerian men and are worth lots of fortunes.

Manufacturing companies, oil and gas companies and more were started from the scratch and today can be said to among the most valuable companies in Nigeria and Africa.

Founders and CEOs of these companies have made great fortunes alongside their great business empires. This post will be on the richest men in Nigeria also stating their main source of income and net worth.

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Aliko Dangote Photo

1) Aliko Dangote
Company - Dangote Group
Net Worth - $9.1 billion
Age - 62

Aliko Dangote is the richest man in Nigeria and the richest African man. He is the owner of the Dangote Group, a manufacturing company interested in Nigerian and other African countries commodities.

Dangote in 2014 was the 23rd richest person in the world. Aliko relocated to Lagos the same year he established Dangote Group with the goal of extending the company. Dangote Group is today the largest industrial group in Nigeria producing lots of products such as Dangote sugar, Dangote Cement, Dangote flour and now his crude oil refinery is almost done with.

Aliko dangote net worth is estimated at $9.1 billion.

Mike Adenuga Photo

2) Mike Adenuga
Company - Globacom, Con Oil
Net Worth - $8.6 billion
Age - 66

Mike Adenuga is the second richest man in Nigeria. He is the owner of Globacom which is Nigeria's second largest Telecom operator which has presence also in Benin and Ghana.  Mike Adenuga also owns high stakes in Con Oil and Equatorial Trust Bank.

His oil company, Consolidated oil became the first indigenous oil company to receive drilling license to struck oil in shallow waters of Southwestern Ondo State. Mike Adenuga was named African Entrepreneur of the Year at the first African Telecoms Awards (ATA)  in August 2007.

Mike Adenuga net worth is estimated at $8.6 billion.

AbdulSamad Rabiu Photo

3) Abdulsamad Rabiu
Company - BUA Group
Net Worth - $1.6 Billion
Age - 59

AbdulSamad Rabiu is the founder and chairman of BUA Group. The group focuses on manufacturing and agriculture. Abdul is also the chairman of Nigeria Bank of Industry. BUA group was established in 1988 for the sole purpose of commodity trading.

BUA group in 2009 began constructung a $900 million cement plant in Edo State and it was completed in early 2015. AbdulSamad Rabiu is also a known philanthropist and known for his various cheerful works.

Theophilus Danjuma Photo

4) Theophilus Danjuma
Company - South Atlantic Petroleum
Net Worth - $1.2 billion
Age - 80

Theophilus Danjuma was Nigerian Chief of Army Staff from July 1975 to October 1979. He was also minister of defence under President Olusegun Obasanjo administration. He is a Politician, Soldier and Businessman.

The name of his company is South Atlantic Petroleum (SAPETRO). The company was created in 1995 and it's an oil exploration and production company.

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General Theophilus Danjuma also formed the Nigeria American Line (NAL)  in 1979 and established COMET Shipping Agencies Nigeria ltd in 1984.

Theophilus Danjuma net worth is estimated at $1.2 billion

Jimoh Ibrahim Photo

5) Jimoh Ibrahim
Company - Global Fleet Group
Net Worth - $1.1 billion
Age - 52

Jimoh Ibrahim is a lawyer, politician, businessman, and philanthropist in Nigeria. He is the chairman and chief executive officer of Global Fleet Group, a diversified conglomerate based in Nigeria.

His Global Fleet Group has other subsidiary companies which are; Air Nigeria, NICON Insurance, Nigeria Reinsurance Corporation, NICON Luxury Hotel, Global Fleet Oil and Gas, the NICON Group, Global Fleet Building, Meidan Hotel, Global Fleet Industries ,Energy Bank, Oceanic Bank Sao Tomé, Newswatch Magazine.

Jim Ovia Photo

6) Jim Ovia
Company - Zenith Bank
Net Worth - $980 million
Age - 67

Jim Ovia James is the founder of Zenith Bank. The Nigerian Businessman founded Zenith Bank in 1990. He hails from Agbor in Delta State. Jim is an alumnus of Harvard University Business School.

Zenith Bank Plc is Nigeria's tier-1 bank and one of the most profitable financial institutions in Nigeria until 2010, when he moved into the chairman role.

Ovia is the founder of Visafone Communications Limited and the chairman of both the Nigerian Software Development Initiative (NSDI) and the National Information Technology Advisory Council (NITAC).

Tony Elumelu

7) Tony Elumelu 
Company - Heirs Holdings, UBA, Transcorp 
Net Worth - $700 million 
Age - 56

Tony Elumelu is a Nigerian Entrepreneur and philanthropist. Tony Elumelu is a holder of the Commander of the order of Niger (CON) and member of the order of Federal Republic (MFR). He is the chairman of Heirs Holdings, The United Bank for Africa, Transcorp and Founder of Tony Elumelu Foundation.

In his early career, Elumelu acquired and turned Standard Trust Bank into a top-five player in Nigeria. In 2005 he led the acquisition of United Bank for Africa (UBA), later transforming it from a single-country bank to a pan-African institution with more than seven million customers in 19 African countries.

He was awarded 2017 Philanthropist of the year award on February 28, 2018 by media publisher, Per Second News.

Femi Otedola Photo

8) Femi Otedola 
Company - Former Chairman, Forte Oil PLC
Net Worth - $500 million 
Age - 56

Femi Otedola is a Nigerian businessman, philanthropist, and former chairman of Forte Oil PLC, an importer of fuel products.

Otedola is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance.

Otedola is chief executive and president of SeaForce Shipping Company Ltd and was at one point Nigeria's largest ship owner after extending control over the distribution of diesel products.

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Otedola has been reported to be a financier of the People's Democratic Party and is said to have contributed N100 million to President Obasanjo's re-election expenses in 2003. He was a close ally of President Goodluck Jonathan.

Orji Uzor Kalu

9) Orji Uzor Kalu 
Company - SLOK Holding 
Net Worth - $400 million 
Age - 59

Orji Uzor Kalu is the former Governor of Abia State. He is a well known politician, Entrepreneur and Philanthropist. Orji Uzor is the chairman of SLOK Holdings and the Daily Sun and New Telegraph Newspaper, making him the richest man in Nigeria.

Orji Uzor Kalu is also the incumbent Senator of the Federal Republic of Nigeria. SLOK Holding is the owner of SLOK Nigeria Ltd which is the leading indigenous player in the upstream sector of Nigeria's oil and gas industry.

Oba Otudeko Photo

10) Oba Otudeko 
Company - Honeywell Group 
Net Worth - $350 million 
Age - 76

Oba Otudeko is the founder and chairman of the Honeywell Group. He was the founder of the Oba Otudeko Foundation and he's the chairman of FBN Holdings. Honeywell Group is a diversified industrial, trading and investment conglomerate.

In addition to the Honeywell Group, Oba Otudeko is also Chairman of FBN Holdings Plc and has, at various points, been Chairman of Airtel Nigeria Limited and Fan Milk of Nigeria Plc. He was on the Board of First Bank of Nigeria Plc for 12 years, retiring as the Chairman in 2010.

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Conclusion
The above men are the richest in Nigeria at the moment. They are;

  • Aliko Dangote 
  • Mike Adenuga 
  • AbdulSamad Rabiu 
  • Theophilus Danjuma 
  • Jimoh Ibrahim 
  • Jim Ovia 
  • Tony Elumelu 
  • Femi Otedola 
  • Orji Uzor Kalu 
  • Oba Otudeko 
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