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Top 22 Richest Men in Nigeria 2023; Their Profile, Net Worth, Investments

You might want to ask, Who is the richest man in Nigeria 2023? This post contains the top 20 richest Nigerians, their net worth, and the root of their success.

Nigeria is richly blessed with numerous natural resources and intellectual individuals. The country has men and women of valor, who have dedicated themselves to the positive growth of the country.

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Nigeria is a Motherland to many Billionaires, Philanthropists, and Entrepreneurs.

If you are interested in becoming a millionaire, then you should read this. Find out what these men and women did differently.

They are outstanding today because they followed the right path. Some of them were not born into wealthy homes, but today they have made progress for their future generations.

Top 20 Richest Men in Nigeria 2023

Top 22 Richest Men in Nigeria 2021; Their Profile, Net Worth, Investments

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1. Aliko Dangote:

The first on the list is Aliko Dangote. This business guru holds a net worth of $12.5 Billion. He was listed on Forbes as the 67th richest man in Africa and the 183rd in the world. His company, the Dangote group started as a small trading firm in 1977.

Up till date, his company has been able to become Africa’s leading firm in Flour, Sugar, and Cement production. The business magnate also expanded his industries across Nations like Nigeria, Benin Republic, Togo, Ghana, Ethiopia, Senegal, Cameroon, Tanzania, Zambia among others.

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He specialises in mining the wealth of Nigeria and Africa as a whole by commercialising local and agricultural products. Richest Men in Nigeria

Currently, his company has expanded to a conglomerate with services like, import and export, supplies of breweries, and other local products.


2. Micheal Adeniyi Adenuga

Mike Adenuga is the second business magnate on the list. His wealth is credited to telecommunication ventures and investments, which yielded him a net worth of $6.3 billion.

Adenuga was industrious right from his early days. He started as a taxi driver, to offset his tuition and some other bills. This was before he hit his first million at the age of 26, while trading lace materials and soft drinks. He ventured into the mining Industry, from which he moved on to communications services.

Today, his Globacom company holds a record of the second largest telecommunication enterprise in Nigeria. and Conoil.

In 2019, he was listed as the 22nd of the 100 most influential people in Africa in the New African’s Magazine.

Read Also: Top 20 Richest Musicians in Nigeria

3. Alafayaa Kariboye-Igbo:

Alafayaa Kariboye-Igbo, popularly known as oil money, is an Entrepreneur and business Mogul. He is leading the way in the entertainment industry. He owns a British Entrepreneur Label, also the CEO of Trump’s music and events, and Founder of Best Car Sales LTD. Jaydboy is one of the artists officially signed to his label, Oil money records, which was established in March 2021. Richest Man in Nigeria

He is into the Oil and Gas Market, and Real Estate Management. His current net worth is $6.1 Billion.


4. Arthur Eze:

Arthur Eze is a prince from a royal family in Ukpor, Dunukofia LGA,Anambra state. He is the founder of Atlas Oranto Petroleum. His current net worth is $5.8 Billion. Most of his assets are investments in the Oil and Gas industry.  His company is the largest Private-owned Petroleum industry in Nigeria. His companies are also located in Liberia, Guinea, and the Gambia. He is a chemical and mechanical engineer but is also a Politician.


5. Cletus Ibeto:

Cletus Ibeto is the Chief Executive Officer of the Ibeto Group. He is an industrious entrepreneur and his investments are in wide-spread industries. His net worth is over $3.8 Billion. His hotels are well known across the country. He is into real estate management, Cement production, Oil and Gas, Energy distribution, and even Automobile parts.


6. Benedict Peters:

Benedict Peters is one of the Nigerian Business Magnates who has interests in the Petroleum Industry. He previously worked with the Oando PLC before he moved to MRS Oil Nigeria PLC. He was passionate about making improvements, so he went further to establish his own petroleum industry.

Presently, Benedict Peters is the head of Aiteo group, one of the biggest Petroleum industries in the nation. He holds worth $3.3 Billion.  top 50 richest man in nigeria 2021


7. Emeka Offor:

Emeka Offor WAS CONSIDERED THE Richest Igbo man Nigeria. hE began his business pursuits as a Bitumen Importer. He was in the business for a long time, during which he familiarised himself with many prominent companies. He began Chrome Oil Services in 1985. He expanded the establishment into a conglomerate, the Chrome Group in 1994. This aggregates industries like Telecommunications and Energy. He has an estimated net worth of $2.9 Billion.

See Also: 20 Richest Athletes in The World

8. Andy Uba:

Emmanuel Nnamdi Uba is a Philanthropist and Businessman, who governed Anambra State for just 14 days.  He was appointed as governor on 27 May 2007 before his appointment was revoked by the supreme court on 14 June 2007. He made exploits in the Business field and has a net worth of $2.1 Billion.


9. Igho Sanomi:

Igho Sanomi is a retired Businessman. He worked as a Police Officer during his period of service. He has to his name, one of the biggestt conglomerates in the country. He is the Founder of Cosmos AG Oil, the Chief Executive Officer of Talaveras, and many others. He reached his net worth of $2.1 Billion through his numerous investments in Real Estate, Energy, Mining, Shipping, Aviation, Construction, and Telecommunication.


10. Femi Otedola

Femi Otedola is the owner of Zenon Petroleum and Gas Limited. He also chairs the Forte Oil PLC. He is the son of Ex Lagos State Governor, Micheal Otedola and Father to social media personalities- Temi and Florence (DJ Cuppy). His current net worth is $1.85 Billion.

Femi Otedola did not restrict his investments to the Oil and Gas Industry. He has investments in Real Estate Management, Shipping, and Finance. His real estate properties are not limited to Nigeria, but in Dubai, London, and the US.

He is a visionary and a philanthropist; he sponsors some scholarship schemes in Nigeria. He is well known for his benevolence to the students at the Micheal Otedola University.


11. ABC Orjiako:

Ambrose Bryant Chukwueloka, popularly known as ABC Orjiako began his entrepreneurial journey as a Medical Doctor. He worked for some years before going into the Money Market. He was a Surgeon but he had interests in the business sector. He studied at the Harvard Business School, before he founded the Seplat Petroleum Industry. His net worth is $1.2 Billion.


12. Emmanuel Ojei:

Emmanuel Ojei has a net worth of $1.2 Billion through his numerous investments in Banking and Automobile services. He is the owner of Ojei Holdings Limited.

See Also: Top 10 Richest Programmers in Nigeria and their Net Worth

13. Abdul Samad Rabiu:

Abdul Samad Rabiu has a net worth of $1.1 Billion. He attained his business acumen, with investments in his company, the BUA group, and also real estate.

The BUA Group is one of the largest Cement and Sugar producing companies in Nigeria. He owns refineries in different regions of the country.

The BUA group company was handed to him by his father, Khalifah Isyaku Rabiu. His father was an industrious man. Even with that, he did not rest on the soars of the family business. He went further to make further improvements and establishments in the Company.

Abdusalam Rabiu has been of great support to the nation. Through the BUA Foundation, he sponsored the construction of the Aminu Bayero University’s Paediatric ward.


14. Jimoh Ibrahim:

Jimoh Ibrahim ranks 7th, thanks to his investments in Real Estate, Oil and Gas, and Insurance Businessman. His current net worth is $1.1 Billion.


15. Orji Uzor Kalu:

Orji Uzor Kalu is the former Governor of Abia State. He is worth $1.1 Billion and is also the CEO of SLOK holdings. His investments are in Furniture production, Transportation,n and the Oil industry. He also holds assets in the Daily Sun and the New Telegraph Newspapers.

He was suspended from school at the University of Maiduguri, for participating in the “Ali must go riot”. That was his turning point in life as he did not return to school after then. He obtained a loan, through which he ventured into business.

He started with Palm Oil business before he continued to Furniture production and diversified into other ventures. His company, SLOK holdings, came into reality a few years after his business rendezvous. Today SLOK holdings is a conglomerate comprising of a variety of industries in all calls of the world.


16. Paschal Dozie:

Paschal Gabriel Dozie is an industrious Businessman. He specialized in Financial institutions and made exponential growth in the field. He is the Chairman of Diamond Bank PLC; One of the leading Commercial Banks in the country. He is dedicated to progress and has a current net worth of $2.1 Billion.


17. Bode Akindele:

Bode Akindele, Founder of Mondola Group, the largest Agricultural Corporation in Nigeria. With a net worth of $1 Billion, he wields assets in Real Estate, Agriculture, Food Processing, and Transportation Agencies. richest men in nigeria 2021


18. Folorunsho Alakija:

Folorunsho Alakija is the first woman on this list. Her assets are invested in the Fashion, Real Estate, Oil and Gas, and Printing Industries. With a net worth of $1 Billion, she seats as the richest African Businesswoman.

She started her company, the Famfa Group in 1993. She is a Philanthropist at the Rose of Sharon Foundation, an avenue for women empowerment.

She sponsors many Nigerian students through the Folorunsho Alakija Scholarship scheme, along with other Scholarship programs which she funds.


19. Jim Ovia:

Jim Ovia founded the Visafone Communication which is now owned by the MTN group. He didn’t relent as he pushed on to acquire Zenith Bank, one of the top-ranking financial institutions in Nigeria. He is an economist and also Chairman of many other leading conglomerates in the country.

He has a current net worth of $980 million.


20. Danjuma Theophilus:

Despite being a retired Army General, Danjuma Theophilus still makes waves in the Business niche. He is one of the Billionaires who have interests in mining the wealth of the country through Oil and Gas. He heads the South Atlantic Petroleum (SAPETRO) and has a net worth of $750 million.

During his early life, he did not start up at the Gold mine. His parents survived on subsistence agriculture and metal trade. After school, and while in office, he concerned himself deeply with politics. He was made the Chief of Staff during the Olusegun Obasanjo Administration.


21. Tony Elumelu:

An astute businessman with a net worth of $700 million. His chief investments are in the Heir Holdings, Transcorp Company, and the United Bank for Africa. He is an economist and Philanthropist and graduated from the Harvard School of Business.

When he acquired the United Bank for Africa in 2005, he transformed it from a local commercial bank to a Pan-American financial institution with 19 countries on record.

He proved his mettle, through his investments in Financial services, real estate management, Agriculture, and Energy Industries.

Tony Elumelu is a Philanthropist and holds many official positions in the financial institution. He has empowered thousands of entrepreneurs around the world through his financial feats.


22. Tunde Folawiyo:

Tunde Folawiyo has an estimated net worth of $650 million. He founded the Yinka Folawiyo Group, a Corporatithatich included many industries. This Conglomerate encompasses sectors like- Real Estate, Agriculture, Oil and Gas, and Shipping. He is the Chief Executive Officer of the MTN Telecommunication company in Nigeria.

Top 10 Billionaires in Nigeria by Net Worth 

Name Net worth (USD) Sources of wealth
Aliko Dangote 12.1 billion Sugar, flour, cement
Mike Adenuga 6.3 Billion Telecommunication
Alafaa Kariboye-Igbo 6.1 Billion Entertainment, Oil & Gas, Real Estate And Car Dealer
Abdul Samad Rabiu 5.5 Billion cement production, sugar refining and real estate
Tony Elumelu 1.4 Billion Financial Services, Energy, Real Estate, Agribusiness
Orji Uzor Kalu 1 Billion Furniture Manufacturing, Transportation, Oil Trading
Jimoh Ibrahim 1.1 Billion Oil and Gas, Real Estate, Insurance
Folorunsho Alakija 1 Billion Fashion, Oil, Real Estate, Printing Industries
Pascal Dozie 1 Billion Financial Services, Telecommunications
Leo Stan Ekeh 1 Billion Internet Services, E-Commerce

See Also: How much is Dollar to Naira Today

Money is power.

Money breeds respect.

Most people take no care of their money until they come to the end of it, and the same is true with time.

Making vast amounts of money has more to do with finding a need and filling it than anything else you can possibly think of.

If money can solve it, it’s not a problem (ask the legendary Michael Jordan).

If money can’t solve it, money will get you very close to the solution, faster than anything else (ask the tremendously wealthy Oprah Winfery).

The first thing you should teach a teenager is how to solve money problems. More importantly, show them what worked in your days, what’s working now, what could work tomorrow and teach them to always find a need and fill it.

Any fool can become financially independent. But if you think you’ll become rich by working a 9-5 job, I urge you to think again. And if you claim you don’t care about wealth, you are a pathological liar.

You don’t have to wait until you’re 65 to retire.

Learn copywriting, master it, become a student of markets, thank me later.

Most people (including Nigerians) will allow you take their partner home for the night…

If you can shell out at least NGN2million in Cash!

I’m serious.

One of the must-haves for women when it comes to relationships is money.

Forget the nonsense about a God-fearing man who has a vision.

And one of the must-haves for men is a beautiful-face-and-body that they can drive home to after a hard day’s job.

Forget all the psychological rubbish about a homely supportive woman. All of that is secondary to A LOT of men.

Once a woman is hot enough to attract a lot of males and consistently arouse the hot throb of lust in a man’s loins over a sustained period of time, she automatically ticks all the boxes for him.

I believe in freedom of speech, and I’ve said it as I see it.

If you choose to take me to the supreme court, that is your affair.

This is post-election period in Nigeria anyway.

The judges and the lawyers that really matter are busy working day and night for their deep-pocketed political clients.

So you better be ready to shell out a lot of cash.

Good luck with that, and Go with God!

Anyway, quick question:

Have you ever been overcome with a sudden desire to make money?

I mean, actively exploit strategies that enable you acquire more bundles of neat cash than any sane person could ever hope to spend?

I have, and that’s why I chose to write on this topic.

Now, if you’ve ever wondered what a “who’s who” list of the richest men in Nigeria looks like, I have a list that should absolutely satisfy your curiosity.

But first, I’m going to tell you…

A little story about some guy named MJ Demarco.

And don’t even try to guess how it relates to this topic because I’ll explain before I finish.

Maybe you’ve heard of him, maybe you haven’t.

But here’s the thing, in the early 2000s –year 2000 to be precise, when the internet boom was just getting warmed up, he became an instant dot-com millionaire after selling his limousine-service website for a neat $1,200,000.

He received three offers actually:

  • $250,000
  • $550,000
  • $1,200,000.

Of course, the logical thing to do was take the biggest offer.

Today, MJ is still a millionaire, but here’s what really happened:

As you would guess, $1,200,000 was a lot of money nineteen years ago.

Well it wasn’t and MJ had to learn very fast after investing poorly and making the same mistakes most would-be millionaires make.

By the time he had bought a Corvette, and had done a long list of foolish things he believed would make him look rich, he had only $300,000 left and it was at that point that he became money savvy.

–Again, $300,000 might seem like a lot of money, but it wasn’t and it isn’t.

Here’s why…..

Never allow the taste of success fool you into thinking you have arrived, the real wealth is not in how much you have in your bank account, but in how you invest what comes in, and how it is multiplied passively –That is, how you use your money to create wealth for yourself without lifting a finger.

This usually happens when you create a product that is so in demand, people can’t stop sending you money for it.

If you want to learn more about MJ Demarco’s journey, if you are at all serious about making serious sums of money, I urge you to find and read The Millionaire Fastlane. It was authored by MJ and was an instant bestseller.

Find it, read it, and use what you learn to solve your money problems.

Alright, let’s get down to business.

Who are the top 20 richest men in Nigeria?

Well, to answer a question like this, the first place we need to look is not Wikipedia, not CNN, not Vanguard, not Punch, not Sahara Reporters,

Not even Linda Ikeji….

But Forbes List of Black Billionaires 2019.

If you can’t make that list, but you have a net-worth of at least $400million or more, you should be able to make the list of the top 20 richest men in Nigeria.

In case you’re confused or something, Black billionaires are individuals of Black African ancestry. Their lineage or roots, can be traced to Africa.

In 2019, 13 blacks made Forbes list of World Billionaires (over 2,000 of them), and in that tiny little circle of thirteen, you’ll find the four wealthiest Nigerians –one of them is a woman, Folorunsho Alakija, with a networth of $1.1 billion.

She’s the fourth and final Nigerian on that list.

The other three, will take the first spots in the list that follows.

Who else?

Well I’m going to leave the last name to…

Your imagination!

But let’s not get carried away.

Hark unto me:

I laugh when people say there’s no money in Nigeria –I just laugh.

Let me tell you a little secret that you should never forget:

–Nigeria remains the most populous black nation on earth, with a population of over 190million people (personally, I believe it’s over 200 million) and you know what that means?

You want to know?

Ok you asked for it:

It simply means that Nigeria is one of the largest markets in the world, and if you can find a need and fill it, you will soon be making serious sums of money –enough to…

Look any Politician in the eyes without flinching.

Thus, the secret to stupendous wealth in Nigeria lies not in chasing money, but in finding a need and filling it so perfectly, thousands (even millions) of  Nigerians will almost stand in line and beg you to take their money.

My time is running out (yep, I’m not as insane and dimwitted as you think. I actually time myself when I write).

So I’m going to wrap this up very quickly.

You know, it’s one thing to have vast sums of money in your possession, and it’s quite another thing to keep and multiply it over a sustained period of time.

That has always meant the difference between the rich, the financially okay, and the poor –and above all, it’s how you deal with failure that determines just how financially successful you become.

Make of that what you will.

But I’m not about to give you another unsolicited lecture on money.

Not today.

Take care.

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Chidinma Nnamani

Chidinma is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

Andy Mukolo

Andy Mukolo is one of the best direct-response copywriters in Nigeria. He's also a very passionate content developer who works with InfoGuideNigeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

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