Top 10 Richest Men In Nigeria (2020)

Top 10 Richest Men In Nigeria (2020)

Richest Men in Nigeria 2020

Certainly we have lots of rich men in our country. Billions and millions of dollars empires have been built but these men over the years. The amount of fortunes they have acquired is something worth talking about.

Most of them are entrepreneurs who started early and maybe from the scratch to be what they are today and made it to our list of richest men in Nigeria.

These richest people also dominate Africa. The likes of Dangote and Mike Adenuga are not only the richest in their country but also the richest in the African continent.

The oil sectors, manufacturing division, telecommunications are the biggest earning sectors of Nigeria and that's why they are on the rich list. These men have conquered these sectors and also taking them to the next level.

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  • Aliko Dangote - $12 billion 
  • Mike Adenuga - $7.7  billion 
  • Abdul Samad Rabiu - $3.2 billion
  • Theophilus Danjuma - $1.2 billion 
  • Jimoh Ibrahim - $1.1 billion 
  • Jim Ovia - $980 million 
  • Tony Elumelu - $900 million 
  • Oba Otudeko - $550 million 
  • Orji Uzor Kalu - $330 million 
  • Femi Otedola - $300 million 
Top 10 Richest Men In Nigeria (2020)

1) Aliko Dangote Net Worth - $12 billion 

Richest Nigerian Men - Aliko Dangote

Aliko Dangote tops the list of the richest men in Nigeria 2020. He is also the richest man in Africa at the moment. Aliko is the owner of the Dangote Group which is one of the biggest business groups in the country. 

He was born in Kano on April 10, 1957. Aliko Dangote holds the honours of MFR, GCON given to him by the Nigerian government. 

The entrepreneur obtained a bachelor's degree in business studies and Administration from Al-Azhar university, Cairo. 

The Dangote Group was was established by him as a small trading firm in 1977 and it has gone a long way to become a multi-trillion naira conglomerate. It has moved from being a trading company to become the largest industrial group in Nigeria. 

The Billionaire's sugar factory is the largest in Africa and the third largest in the world producing about 800,000 tonnes of sugar per year. 

Aliko Dangote's net worth is estimated at $12 billion and he is one of the most powerful and influential people in the world.

2) Mike Adenuga Net Worth - $7.7 billion 

Richest Nigerian Men - Mike Adenuga

Obviously one of the wealthiest people in the African Continent. Mike Adenuga is a Nigerian billionaire and he doubles up as the second richest person in Nigeria and also in Africa. 

Born on 29th April, 1953 in Ibadan, Oyo State. He got degrees in Business Administration from North Western Oklahoma State University and Pace University. 

The billionaire owns the second largest Telecoms operator in Nigeria, Globacom. The company also has solid presence in Ghana and Benin Republic. Adenuga also owns stakes in the Equatorial Trust Bank and Con Oil. 

The President of France in 2018 decorated him with the insignia of a commander of the legion of honor. He was made the Grand Commander of the order of the Niger by the Nigerian government in 2012.

According to Forbes, the net worth of Mike Adenuga is estimated at $7.7 billion as of 2020. Adenuga is also one of the richest black people in the world. 

3) Abdul Samad Rabiu Net Worth - $3.2 billion 

Richest Nigerian Men - Abdul Rabiu Samad

Abdul is another great businessman on our list. He is also considered to be one of the best industrialists to come out of Africa. 

He is the founder and chairman of BUA Group. This group is a conglomerate that focuses on manufacturing, infrastructure and agriculture. $2.5 million worth of revenue is being produced by this great conglomerate. 

Abdul is obviously in the global billionaire's club. He is also the chairman of Nigeria Bank of Industry (BOI). 

BUA Group completed a $900 million cement plant in Edo State in 2015 after acquiring a public listed cement company in Nigeria in 2009. 

They own the second largest sugar refinery in sub-Saharan Africa which got commissioned in 2008.

4) Theophilus Danjuma Net worth - $1.2 billion 

Richest Nigerian Men - Theophilus Danjuma

We have a retired military officer on our list for wealthiest individuals in Nigeria. He is a philanthropist, businessman and politician. 

Theophilus was Nigeria's Chief of Army Staff from July 1975 to October 1979. Under former president Olusegun Obasanjo, he was the minister defence. The billionaire is the chairman of South Atlantic Petroleum (SAPETRO). 

Danjuma in 1960 enrolled into the Nigerian Army after being on a scholarship to study History in Ahmadu Bello University in Zaria. 

He established COMET shipping agencies Nigeria in 1984 and established SAPETRO in 1995. His oil exploration company SAPETRO got awarded the oil prospecting license in 1998 by the ministry of Petroleum Resources. 

The net worth of Theophilus Danjuma according to Forbes is estimated at $1.2 billion. He is an influential figure in the country. 

5) Jimoh Ibrahim Net Worth - $1.1 billion 

Richest Nigerian Men - Jimoh Ibrahim

Jimoh Ibrahim takes the fifth position on the list. He is a Nigerian lawyer, Politician, Businessman and Philanthropist. He was born on 24th February 1967 in Ondo State, Nigeria. 

Jimoh is the chairman and CEO of Global Fleet Group. This conglomerate has business interests in West African Countries as it is very diversified. 

The billionaire has serious investments in many sectors such as oil and gas distribution, Real Estate, hotels, resorts, airlines, banking and more. 

Global Fleet has really been a success for the businessman making him one of the reputable people in the country .

In 2003, Jimoh mounted a bid to become the Governor of Ondo State under the All Nigerian People's Party (ANPP) ticket but it was unsuccessful.

Read Also: Richest Actors in the World

6) Jim Ovia Net Worth - $980 million 

Richest Nigerian Men - Jim Ovia

He owns one of the biggest Banks in Africa, Zenith Bank. Jim Ovia founded Zenith Bank in 1990 and till today remains one of the most resourceful commercial banks.

The billionaire hails from Agbor which is in Delta State. He is also well educated and having Alma maters like Harvard business school, university of Louisiana and Southern University .

Ovia's two decades of leadership in Zenith Bank really helped position the bank into becoming one of the largest and most profitable banks in Africa.

He is also the founder of Visafone communications limited and both the chairman of Nigerian Software Development Institution (NSDI) and the National Information Technology Advisory Council (NITAC).

According to Forbes, Jim Ovia is a very wealthy man with his net worth estimated at a whooping $980 million.

7) Tony Elumelu Net Worth - $900 Million

Richest Nigerian Men - Tony Elumelu

This man is not only rich but has a large following. He is a Nigerian economist, entrepreneur and philanthropist. Tony Elumelu is the 7th richest person in Nigeria.

Tony Elumelu heads the United Bank for Africa (UBA). Aside that he is also the chairman of Heirs Holdings, Transcorp and founded the Tony Elumelu foundation.

Forbes magazine in the 2012 recognized Tony Elumelu as one of "Africa's 20 Most Powerful People".

The billionaire holds the commander of the order of the Niger (CON) and member of the order of the Federal Republic (MFR).

Tony unknown to many people is the cousin to the legendary Nigerian reggae artist, Ras Kimono who died on 10th June, 2018. He was one of the co-chairs of the 26th World Economic Forum on Africa in Kigali, Rwanda.

8) Oba Otudeko Net worth - $550 million

Richest Nigerian Men - Oba Otudeko

Finally the billionaire businessman that owns Honeywell Group. He currently serves as the group's chairman and founder. Oba Otudeko is also the chairman of FBN Holdings and founded the Oba Otudeko foundation.

For a long period of 23 years, Oba Otudeko was in bank employment and later rose to the manager and active CEO of Cooperative Bank.

The Federal government appointed him to become the director of the Board of the Central Bank of Nigeria after he retired in 1983 from Cooperative Bank.

He got elected as Nigerian Stock Exchange (NSE) President in 2006. Oba Otudeko has at various points headed Airtel Nigeria limited, Fan Milk Nigeria Plc and First Bank Nigeria Plc.

9) Orji Uzor Kalu Net Worth - $330 million

Richest Nigerian Men - Orji Uzor Kalu

He is one of the biggest power politicians and businessmen in Nigeria. Orji Uzor Kalu is the chairman of SLOK Holding, Daily Sun and New Telegraph newspapers in Nigeria.

He served as the Governor of Abia State, Nigeria from 1999 to 2007. Orji Uzor Kalu belonged to the political party Progressive People Alliance (PPA) during his tenure.

The politician has also been a part of the People's Democratic Party (PDP) and he's currently a member of the ruling All Progressive Congress (APC).

Orji Uzor Kalu is also the senator representing the people of Abia North. He won the then incumbent Senator Mao Ohuabunwa with 10,000 votes.

At the age of 26, he received the National Merit Award from President Ibrahim Babangida making Orji Uzor the youngest Nigerian to receive such award.

Read Also: Richest Politicians in Nigeria 2020

10) Femi Otedola Net Worth - $300 million


Richest Nigerian Men - Femi Otedola

One of the most heard names in the country. He is a very popular businessman and philanthropist. Otedola is the father of Nigerian Disk Jockey, DJ Cuppy.

He is the former chairman of Forte Oil Plc and founder of Zenon Petroleum and Gas Ltd. Forte Oil is an importer of fuel products.

His investments varies into shipping and real estate. Femi Otedola has recently invested heavily in power generation.

He is the son of late Sir Micheal Otedola who was the former governor of Lagos State from 1992 to 1993. Femi Otedola owns huge mansions in Lagos, Abuja, Dubai, London and New York City.

With an estimated net worth of $330 million according to Forbes, Femi Otedola comes 10th on the richest men in Nigeria 2020 list. 

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