Who is the richest man in Nigeria? The answer is relatively straightforward, Dangote. But that’s not all, and he isn’t the only one dominating the list of wealthiest people in the country. There are others. And you’ll learn about them in this list. So, keep reading to find out.
The 5 Richest Persons In Nigeria
Dangote
Aliko Dangote was born on April 10, 1957. Dangote became the richest person in Nigeria in 2007 and has dominated the position ever since. But instead, he worked hard to get there. He graduated from a prestigious university, Al-Azhar, Egypt, aged 21. After leaving school, his uncle loaned him the capital to start his importation business of commodity goods.
He continued this business until he ventured into cement manufacturing and has now ventured into petroleum refineries. Dangote grew his wealth in the manufacturing sector of the economy. Interestingly, he owns the third largest sugar plant in the world.
As per Forbes, Dangote’s net worth is an estimated $14 billion. And he’s also the most affluent African and the richest black person in the world. On the list of the world’s richest, he ranks 135th. Dangote’s refinery will be the largest in the world once it’s completed, and it’ll also bring about a significant rise in his wealth. Therefore, we don’t expect to see him fall off this position in the nearest future.
Abdul Samad Rabiu
Close on the heels of Aliko Dangote is Rabiu Abdul Samad, the second richest man in Nigeria, with an estimated net worth of $7 billion as per Forbes. Rabiu is another entrepreneurial magnate who is milking fortunes in the manufacturing sector.
Abdul Samad Rabiu of BUA group is the son of one of the earliest industrialists in Nigeria, Khalifah Isyaku Rabiu. His journey to the list of wealthiest people in Nigeria began after he returned from the USA to oversee his family business. And in 1988, he founded BUA International Limited to engage in commodity trading.
From there, he expanded his reach into steel manufacturing, edible oil processing, flour mill, sugar processing, and now he’s into cement manufacturing. In addition, Abdul Samad is a seasoned philanthropist and the fifth richest African man.
Mike Adenuga
Mike Adenuga of Globacom is that Nigerian billionaire who is rarely in the news. Yet he is one of the most influential Africans. He made his first million aged 26 via commodity trading, specifically by trading lace clothing material and the distribution of soft drinks.
While he wasn’t from a wealthy home, it was reflected in how he drove a taxi to fund his university education. Mike owns Globacom, the second largest telecom operator in Nigeria with a presence in other sub-Saharan countries. He is also interested in Conoil, ETB, and many other businesses.
As reported by Forbes, Mike Adenuga is the sixth richest person in Africa with a net worth of $6.7 billion, and as a result, he is the third richest man in Nigeria. He used to occupy the second position before Rabiu overtook him.
Femi Otedola
Femi Otedola is a personal friend to Aliko Dangote, the richest black man in the world. He is also the son of a former governor of Lagos State, Michael Otedola. Ote$, as he fondly refers to himself on Instagram, made his fortune by importing petroleum products. He founded Zenon Petroleum and Gas Ltd and was Forte’s Chairman before he sold it.
He owns the most significant shares in First Bank Nigeria, and his tentacles spread to other industries like Real Estate and Power generation. He has an estimated net worth of $5.7 billion.
Arthur Eze
Arthur Eze is a significant player in the Petroleum and Aviation industry. His net worth is an estimated $5 billion. His company, Atlas Oranto Petroleum, is the largest owner of oil exploration blocks in Africa.
He was born in a royal family in Anambra State, hence why he’s called a prince. He studied mechanical engineering at the University of California before he returned home to start his business. He’s also a philanthropist. And he sits in the fifth position on the list of wealthiest persons in Nigeria. He is also the richest man in Igbo land.
Who Is the Richest Black Person in the World?
Aliko Dangote, with an estimated net worth of $14 billion, is the richest black person in the world. He is the Chairman and Founder of Dangote Group, with tentacles in commodities like Sugar, Cement, among others.
Who Is the Richest Person in the World?
Elon Musk.
Who Is the Richest Woman in Nigeria?
Folorunsho Alakija is the richest woman in Nigeria, with an estimated net worth of $1 billion.
Conclusion
So far, I’ve walked you through the list of the richest people in Nigeria, and to an extent, you must have discovered how they found their wealth. Who’s your favorite on this list? Shoot your answers in the comments.
