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These 7 Nigerians are the Richest People in Africa


Net Worth: $21.6 Billion

Aliko is a business magnate in Nigeria who owns the Dangote Group,  which has interests in commodities. From the time he was young Dangote had an eye on business. He said, “I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time.” Dagnote Group is a multi-trillion naira conglomerate with many of its operations in Benin, Ghana, Nigeria, and Togo. At present, Dangote has enlarged his line of businesses to also cover food processing, cement manufacturing, and freight.


Net Worth: $1 Billion

Tony Elumelu is a Nigerian economist, banker, investor, and philanthropist. Elumelu is Chairman of Heirs Holdings, a pan-African proprietary investment company with interests in strategic sectors of Africa’s economy. He is also the founder of the Tony Elumelu Foundation, an Africa-based and African-funded not-for-profit organisation (NPO) that is dedicated to the promotion and celebration of excellence in business leadership and entrepreneurship across Africa.


Net Worth: $1 Billion

Orji is the chairman of SLOK Holding and the Daily Sun and New Telegraph newspapers in Nigeria. uring his time at the university, Kalu became a student activist, and participated in the “Ali Must Go” riots against the education minister. His participation resulted in his suspension. While his fellow students later took the school authorities to court, Kalu left school to build his own business.



Net Worth: $900 Million

Femi Otedola is a Nigerian businessman.Otedola owns one of the country’s largest oil storage facilities which he purchased for N2.8 billion.  He is the CEO of Forte Oil Plc and he is the controlling shareholder of Forte Oil, with a 75% stake. Femi Otedola is the Nigerian President and Chief Executive Officer of Zenon Petroleum and Gas limited.


Net Worth: $850 Million

From July 2014, he is a chairman of Zenith Bank Group, the biggest bank in Nigeria. Jim has 9.3% stakes that means he is the biggest individual shareholder.

Jim Ovia got his MBA from the University of Louisiana, Louisiana, USA in 1979 and a B. Sc degree in Business Administration from Southern University, Louisiana, USA in 1977. Jim Ovia is also an Alumnus of the Harvard Business School’s Executive Management Program.


Net Worth: $700 Million

Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate with interests in manufacturing, infrastructure and agriculture with a revenue in excess of $2.5 billion. He is also the chairman of Nigerian Bank of Industry.

Rabiu, the son of a businessman, set up his own business in 1988, importing rice, sugar and edible oils as well as iron and steel rods.



Written by PH

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