Top 10 Richest Men In Nigeria

Yay! We are pleased to present to you the most recent ranking of the top ten richest men in Nigeria as of 2021/2022, as well as their current net worth.

You’ll learn more about their business career, investments, assets, accolades, lifestyle, and other aspects of their life here.

So, who are the richest Nigerian men in the world today?

Nigeria is a massive country that has a strong presence on the African continent due to its size. It is one of the most well-known countries in this region, owing in large part to its historical achievements, well-regarded individuals, and a global presence in virtually every industry.

Nigeria’s domination is made even more apparent by the fact that the vast majority of the country’s wealthiest males are also among the world’s wealthiest persons in Africa.

Despite the inclusion of a large number of Nigerians among the world’s wealthiest Africans, wealth distribution in the country is unequal across the board.

Through this post, you will learn about some of the richest men in Nigeria. More information about some of the most powerful individuals in the world, both in terms of wealth and influence, will be provided to readers.

Similar to how every one of the top 10 richest musicians in Nigeria aspires to reach the levels of success obtained by the folks you are about to read about, we are confident that you would want the same.

We’ve decided to produce a list of the top ten wealthiest men in Nigeria, together with their current net worth and a brief biographical sketch.

The 10 Richest Men In Nigeria 2022

RankRichest Men In Nigeria 2022Estimated Net Worth
#1Aliko Dangote$12 Billion
#2Mike Adenuga$7 Billion
#3Alafaa Kariboye-Igbo$6.1
#4AbdulSamad Rabiu$5.5 Billion
#5Orji Uzor Kalu$2.3 Billion
#6Femi Otedola$1.8 Billion
#7Tony Elumelu$1.4 Billion
#8Jimoh Ibrahim$1.2 Billion
#9Pascal Dozie$1.1 Billion
#10Leonard Stanley Nnamdi Ekeh$1 Billion

10. Leonard Stanley Nnamdi Ekeh (Net Worth: $1 Billion)

While you might expect to find prominent people who are well known by Nigerians among the richest men in Nigeria, this is not the case.

Richest Men - Leonard Stanley Nnamdi Ekeh

I expect most people reading this article have no idea about who Leonard Stanley is, and are probably hearing his name for the first time.

His net worth of a whopping $1 Billion definitely qualifies him as someone worth knowing.

Leonard Stanley is a native of Imo state, born and raised in his hometown by his parents who were a dietitian and a Nurse respectively.

He acquired his secondary education at the Holy Ghost College in Owerri, after which he proceeded to earn his first degree in economics at the Punjab University.

On 2001, Leonard Stanley decided to establish the Zinox Technologies Ltd. Whose sole operation is to manufacture computers.

Through his corporation, he became the first to manufacture computers with WHQL certification and a further NIS ISO 2000: 9001 QMS Certification a few years later. This corporation was his main source of income until he acquired Konga by buying off 99% of the stake in the company.

As of 2022, Leonard Stanley is worth approximately $1 Billion dollars (N7.2 Billion Naira), making him the 10th on this list of the richest men in Nigeria.

9. Pascal Dozie (Net Worth: $1.1 billion)

As funny as it may sound, Pascal had his secondary education at the Holy Ghost College in Owerri, similar to the one which Leonard Stanley had his. That is one great school with rich alumni if you ask me.

Pascal Dozie has built a long, long career that has endured for over 2 decades as an economist and businessman. His business career began after gaining employment at the National Economic Development Office in the United Kingdom.

This made sense after having acquired his first degree in economics at The London School of Economics. At the time, he also got a part-time job as a lecturer at the Northwestern Polytechnic.

After getting numerous offers and employments in different economic and consulting capacities over the years, he eventually ended up at the central bank of Nigeria where he was appointed to do some research on cooperative and commercial banks.

Before then, however, he had already established his own company which was known as the African Development Consulting Group (ADCG).

This company would later evolve to become the foundation of the well-known Diamond Bank (now Access), one of the best on the list of the banks in Nigeria today.

So you know, as of 2022, Pascal Dozie is another representative of Imo state and the 9th richest man in Nigeria.

Dozie once held prominent roles such as the president of the Nigerian stock exchange (NSE) and Chairman of the MTN Group.

It is safe to admit that Dozie’s knowledge in Economics proved the difference and propelled to the top of the food chain when it comes to wealth.

8. Jimoh Ibrahim (Net Worth: $1.2 billion)

He is a well educated individual who earned his first degree and Masters in Law at the Obafemi Awolowo University in Osun state.

As a native of Ondo, one of the state and capital in Nigeria, Jimoh Ibrahim was born and brought up in the Southwestern region of the country.

He also attended Harvard University, where he earned a combined Masters degree in Law, as well as International Taxation.

Despite being an individual well educated in Law, his history and success as a businessman precedes him. Jimoh has earned most of his riches and wealth through diversified investments in oil & gas distribution, hotels, resorts, airlines, banking, real estate, insurance, publishing, and investments.

His business successes make his proficiency as a practicing lawyer more suppressed. Today, he is the chairman and CEO of Global Fleet Group which handles his businesses at home and abroad.

As of 2022, Jimoh Ibrahim’s net worth is estimated at roughly $1.2 Billion, making him the 8th richest man in Nigeria.

7. Tony Elumelu (Net Worth: $1.4 Billion)

Richest Men - Tony Elumelu

Finally! Someone everyone knows. Tony Elumelu is one of the most popular figures in Nigeria and across Africa.

This is mostly due to his philanthropic nature and activities which cut across many sectors on the continent.

He is an active philanthropist who has executed so many projects that he was recognized as one of The Time’s 100 most influential people of 2020.

Tony Elumelu was born and raised in Jos, Plateau state. He is a prominent economist and businessman who acquired his first and master’s degrees in economics at the Ambrose Alli University and the University of Lagos respectively.

His career in business started while he was undertaking his National Youth Service at the Union Bank. Over the course of his career, he was able to acquire the Standard Trust Bank, as well as United Bank for Africa down the line.

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After his retirement from the roles he played in both financial institutions, he proceeded to set up the Heirs Holdings which handled his investments in different sectors such as Finance, Health, Energy, Real estate, and Agriculture.

6. Femi Otedola (Net Worth: $1.8 Billion)

Another well known Billionaire in Nigeria is Femi Otedola. He is a well-respected and revered name in Nigeria as a businessman, philanthropist, and investor.

One fun fact about Femi Otedola is the fact that he is the son of former Lagos State governor, Sir. Michael Otedola. Many would have been surprised this fact is not really talked about by the media.

Femi Otedola is a Lagosian who was born and bred in Ibadan, Oyo state. He attended Olivet Baptist Heights for his secondary education, while also earning his first degree at the Obafemi Awolowo University in Osun state.

Femi Otedola earned most of his wealth through investments in numerous business corporations and sectors for over two decades.

He made investments in real estate, fuel marketing, finance, and so on. Through these investments, he earned enough capital to startup or buy out shares of numerous companies.

Some of the companies owned by Femi include Forte oil, CenterForce limited, swift insurance, SeaForce shipping company, Zenon, FO Properties, and Adrova Plc.

These businesses earned him a billionaire status and a place among richest men in Nigeria since 2006.

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5. Orji Uzor Kalu (Net Worth: $2.3 million)

Orji Uzor Kalu is a well known billionaire in Nigeria due to his status as a former governor in Nigeria, spending 8 years in office.

His tenure as Governor ended with so much controversy that he was arrested as soon as he left office on charges of bribery, corruption, and numerous other financial crimes.

These occurrences, however, did not deter him from taking a place among the richest men in Nigeria. Interestingly, he has made it to the list of the top 10 richest politicians in Nigeria.

Before becoming the Governor of Abia state, Orji used to trade in Palm oil by buying from the East and selling them in the Northern region of Nigeria.

He also ventured into the business of selling large furniture, until he established the SLOK holdings which had numerous subsidiaries under it.

This company expanded across Nigeria, and eventually had prescience in countries beyond the shores of Nigeria.

4. AbdulSamad Rabiu (Net Worth: $5.5 Billion)

AbdulSamad is a billionaire businessman and industrialist who took over his father’s ideas and reformed it to create a business empire in Nigeria.

He is the son of Khalifah Isyaku Rabiu who was a well-known industrialist between the 70s and 80s. In order to handle his family’s business after the retirement of his father, Abdul Samad pursued his tertiary degree at the University of Columbia.

Immediately after his return, AbdulSamad created his own company known as BUA International group to replace that of his father who was already in hot waters with the Buhari regime for tax reasons.

This group’s main operation is the trading of commodities such as rice, ground nut oil, flour, iron, as well as steel.

After a few years of operation, the group received a contract from the government to manufacture raw materials for exchange in late 1990.

This proved to be the big break for the relatively new company, as the group earned enough to increase in size and expand operations to different regions.

This group has been on an exponential growth since Then, thus churning out huge profit for Abdul Samad. Today, Abdul Samad Rabiu is one of the richest men in Nigeria, as well as chairman of the Bank of Industry.

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3. Alafaa Kariboye-Igbo (Net Worth: $6.1 Billion)

This name might sound quite strange to many, which is understandable. Alafaa is clearly a native of Nigeria who is, however, not based in Nigeria.

Born on the 21st of August, 1981, Alafaa runs most of his businesses from the United Kingdom as a businessman, entrepreneur, investor, and so on.

Most of his business is diversified across different sectors. He is known to invest in real estate, oil and Gas, and car dealership.

He also has a business in the entertainment industry through his subsidiary group known as the Oil Money records, as well as event promotion.

This might be quite surprising to most people reading this article due to his relatively unpopular status within the Nigerian community. Nevertheless, he earned his place on this list with a net worth of a staggering $6.1 billion.

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2. Mike Adenuga (Net Worth: $7 billion)

Mike Adenuga

Chief Michael Adeniyi Agbolade Ishola Adenuga Jr is one of the most reputable individual to emerge from the shores of Nigeria and Africa at large.

Asides being one of the richest men in Africa, he is well placed among the richest people in Africa as well.

He has almost become a household name through his many known business ventures that has found their way into the core and daily lives of Nigerians.

Mike started out as a trader who deals in lace materials, as well as the distribution of soft drinks on a large scale.

It was through this business that he earned his first million in his business career.

This business also helped him raise enough capital to start his own drilling and exploratory company known as Consolidated Oil.

In 1991, he received his first drilling license and eventually struck oil in the Southwestern region of Ondo state. This made his company the first indigenous company in the country to achieve this feat, and it has since flourished.

Mike also diversified his business portfolio into the telecommunications industry which is widely known as Globacom. This firm provided great competition for already existing networks in the country, thereby achieving huge success as a result.

His telecom company Globacom spread quickly and started challenging the giant MTN Group. It launched services in Benin in 2008, and has continued its spread across Ghana and Côte d’Ivoire, with more licenses currently being prospected in other West African countries.

Mike also owns huge shares in Equatorial Bank, as well as Conoil. His net worth today is $7 billion, making him the 2nd richest man in Nigeria.

1. Dangote (Net Worth: $12 Billion)

Aliko Dangote is currently the richest man in Nigeria. This is the most recognizable name in the world of business.

The richest man in Nigeria - Aliko Dangote
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He has established a high standard for others to follow in the wake of his unparalleled success, which he has achieved via his superior commercial acumen and experience.

Many people immediately point to the fact that he comes from a wealthy Muslim family as the cause for his success, but this is not the case considering that he has exceeded all expectations and wealth of those who came before him through exceptional business abilities and competency.

Today, the Dangote Group and its subsidiaries exercise complete market control over their competitors in all of the countries in which they operate (Benin, Ghana, Nigeria, Zambia, and Togo), despite the fact that they are only present in five of them.

Trading in agricultural commodities including as beans, wheat, and sugar has given way to manufacturing, processing, and freight transportation as the Dangote group’s operations have grown. Dangote Sugar Refinery, Dangote Cement, Dangote Flour, and other businesses are part of the conglomerate.

In addition, the Dangote refinery is currently under construction, and it is predicted to treble his net worth once operations commence.

Each of the Dangote group’s subsidiaries generates substantial profits at the conclusion of each fiscal year, ensuring that his net worth continues to increase over time.

Aliko Dangote, with a massive net worth of $12 billion dollars, is unquestionably the wealthiest man in Nigeria, and he is also the most inventive businessman to have ever existed on the African continent, according to Forbes.

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Summary of the Richest Men In Nigeria

Having gone through the list of the most buoyant men in Nigeria in terms of financial power, you will agree that Nigeria is well endowed with countless intellectuals with business acumen and experience.

The fact that we have such individuals in Nigeria with such valuable skills and knowledge, and Nigeria is still the way it is today is quite unfortunate, to say the least.

Here’s a quick recap of the top 10 richest men in Nigeria today:

  1. Aliko Dangote
  2. Mike Adenuga
  3. Alafaa Kariboye
  4. AbdulSamad Rabiu
  5. Orji Uzor Kalu
  6. Femi Otedola
  7. Tony Elumelu
  8. Jomoh Ibrahim
  9. Pascal Dozie
  10. Leonard Stanley Nnamdi

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