Top 20 richest people in Nigeria, their net worth, and sources of wealth

There are numerous millionaires in contemporary Nigeria. Many people are curious about the net worth of the richest people in Nigeria. The most affluent people in the country have multiple income streams. They have investments in various sectors of the Nigerian economy. Their wealth has made them prominent locally and internationally.

Key takeaways

• The richest people in Nigeria obtained there wealth from a variety of different sources, including oil and gas, finance and investments, Telecoms, and aviation.
• According to this list, there are 19 dollar billionaires in Nigeria— four of them have been listed in the Forbes List of African Billionaires.

Richest people in Nigeria

We utilized information from Forbes, Iliketodabble and other publicly available data to compile this list. We analyzed the assets and investments in different sectors to come up with the nominal net worths of the inviduals in this list.

The richest people in Nigeria in 2024 are worth millions or billions of dollars. They are financially astute people who have invested in key sectors of the country's and world's economies.

20. Jim Ovia - $980 million

• Date of birth: 4 November 1951
• Age: 74 years (as of 2025)
• Source of wealth: Baking industry, telecommunication, property

In 1990, Jim James Ovia founded Zenith Bank, one of the largest commercial banks in the country. He is the chairman and largest individual shareholder in the business.

He is not just a businessman – he is also involved in philanthropic work. He founded the Youth Empowerment ICT Foundation, an organisation focused on improving Nigerian youth welfare and helping them embrace ICT developments. Jim James Ovia's net worth is $980 million.

19. Folorunsho Alakija - $1 billion

• Date of birth: 15 July 1951
• Age: 74 years (as of 2025)
• Source of wealth: Fashion, oil, real estate and printing industries

Folorunsho Alakija is arguably the richest woman in Nigeria. She is vice chair of a Nigerian oil exploration company called Famfa Oil. The firm has a stake in an offshore asset called Agbami Oilfield.

Her first company was a fashion label that sold to high-end clients, including the spouse of Ibrahim Babangida, the former Nigerian president. Folorunsho Alakija is a philanthropist who donates to widows through the Rose of Sharon Foundation. Her net worth is $1 billion.

18. Pascal Gabriel Dozie - $1 billion

• Date of birth: 9 April 1939
• Age: 85 years (as of 2024)
• Source of wealth: Investments in banking

Pascal Gabriel Dozie is the founder of Diamond Bank. He also owns shares in MTN Group, a South African multinational mobile telecommunications company. Pascal Gabriel Dozie's net worth is $1 billion.

17. Igho Sanomi - $1 billion

• Date of birth: 17 May 1975
• Age: 50 years (as of 2025)
• Source of wealth: Investments in telecommunications, shipping, aviation and real estate investments

Igho Charles Sanomi is one of the ‌richest people in Nigeria. Besides running successful businesses, he is a public speaker, geologist, and philanthropist. He has invested in telecommunications, aviation, real estate, and shipping. Today, Igho Sanomi's net worth is $1 billion.

16. Jimoh Ibrahim - $1.1 billion

• Date of birth: 24 February 1967
• Age: 58 years (as of 2025)
• Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate

Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist from Igbotako in Okitipua, Ondo State. He is the chairman of the Global Fleet Group, a large, diverse Nigeria-based conglomerate.

The conglomerate has many subsidiaries in different cities of Nigeria, mainly Lagos and other African countries. It has interests in various sectors, including insurance, hospitality, transport, real estate, oil, and gas.

Jimoh Ibrahim is a published author of three books. He is also the publisher of the National Mirror Newspaper. Currently, Jimoh Ibrahim's net worth is $1.1 billion.

15. Danjuma Theophilus - $1.1 billion

• Date of birth: 9 December 1938
• Age: 87 years (as of 2025)
• Source of wealth: Political career, career in the Nigerian army, shipping, and petroleum exploration

Theophilus Yakubu Danjuma is a politician and retired Nigerian army lieutenant general. He had a long-running army career and played a crucial role in post-independence military and political events in the country.

After retirement, he founded the Nigerian American Line shipping company in 1979. He also founded COMET Shipping Agencies Nigeria and South Atlantic Petroleum Limited. Danjuma Theophilus' net worth is $1.1 billion.

14. ABC Orjiako - $1.2 billion

• Date of birth: 2 October 1960
• Age: 65 years (as of 2025)
• Source of wealth: Oil and gas industry

Ambrose Bryant Chukwuemeka Orjiako, alias ABC Orjiako, is a trained medical doctor and business tycoon. He co-founded SEPLAT, a leading independent oil and gas company in Nigeria.

SEPLAT is listed on the London and Nigeria stock exchanges. ABC Orjiako's net worth is $1.2 billion.

13. Leo Stan Ekeh - $1.2 billion

• Date of birth: 22 February 1956
• Age: 69 years (as of 2025)
• Source of wealth: Investments in ICT

Leo Stan Ekeh is a businessman worth $1.2 billion. He owns Zinox Group and Konga. Zinox is a leading ICT ecosystem in Africa. It deals with computer and peripheral equipment manufacturing. On the other hand, Konga is an online electronics shop.

12. Femi Otedola - $1.4 billion

• Date of birth: 4 November 1962
• Age: 63 years (as of 2025)
• Source of wealth: Petroleum, shipping, real estate, and finance

Femi Otedola is the biggest shareholder of Forte Oil, a publicly traded company. The company has more than 500 gas stations across the nation. He also has investments in shipping, real estate, and finance. Femi Otedola is in the Forbes list of richest people in Africa, one of the few Nigerian men to appear in the list.

His company, Zenon Petroleum and Gas Ltd, specialises in distribution and marketing. He has made considerable investments in other business spheres, such as finance, real estate, and shipping. In addition, he has invested in power generation in an effort to achieve sector liberalisation. Femi Otedola's net worth is $1.4 billion.

11. Emeka Offor - $1.5 billion

• Date of birth: 10 February 1957
• Age: 68 years (as of 2025)
• Source of wealth: Oil production

Emeka Offor is one of the richest entrepreneurs in Nigeria. He is a successful businessman, oil tycoon, and philanthropist. He is the founder and chair of The Chrome Group, an oil exploration firm with headquarters in Abuja. Emeka Offor's net worth is $1.5 billion.

10. Andy Uba- $2.1 billion

• Date of birth: 14 December 1958
• Age: 67 years (as of 2025)
• Source of wealth: Politics

In 2011, Andy Uba was elected the Senator of Anambra South Senatorial District in Anambra State. He started his political career back in his college days. Today, Andy Uba's net worth is $2.1 billion.

9. Tony Elumelu - $2.15 billion

• Date of birth: 22 March 1963
• Age: 62 years (as of 2025)
• Source of wealth: Investments in financial services, real estate, hospitality, healthcare, power, oil, and gas

Tony Elumelu is the CEO of Heirs Holdings, a business conglomerate he started after retiring from the banking industry. His company has invested in financial services, real estate, hospitality, healthcare, power, oil, and gas. Tony Elumelu's net worth is $2.15 billion.

8. Cletus Ibeto - $2.5 billion

• Date of birth: 6 November 1952
• Age: 73 years (as of 2025)
• Source of wealth: Cement, energy, and automotive parts production

Cletus Ibeto is the founder and chair of Ibeto Group, the biggest union in the Eastern part of Nigeria. The businessman and humanitarian started as a spare parts import vendor during his college days. In March 1988, he established his auto spares factory called The Ibeto Group in Nnewi.

In 1995, his company was named one of the country's largest manufacturers of auto spare parts. Later on, he founded Ibeto Petrochemical Industries Ltd., which blends oil lubricants and produces various petroleum products for both local and international markets. Currently, Cletus Ibeto's net worth is $3.8 billion.

7. Benedict Peters - $2.7 billion

• Date of birth: 5 December 1966
• Age: 59 years (as of 2025)
• Sources of wealth: Oil and gas industry

Benedict Peters is one of the most successful people in Nigeria. He started his career in the oil and gas industry in the early 1990s. He worked closely with the founders of Ocean and Oil before establishing Sigmund Communecci in 1999.

In February 2008, he founded the Aiteo Group, the successor entity to Sigmund Communecci. Benedict Peters's net worth is $2.7 billion.

6. Orji Uzor Kalu - $3.2 billion

• Date of birth: 21 April 1960
• Age: 65 years (as of 2025)
• Source of wealth: Furniture, manufacturing, and transportation, and political career

Orji Uzor Kalu is among the Nigerian billionaires you should know. He is a successful businessman and politician with a net worth of $3.2 billion. He is the sitting senator of Abia North Senatorial District.

He is also the CEO of SLOK Holding, a company with investments in banking, shipping, manufacturing, oil trading, and media. This business conglomerate has branches in Nigeria, South Africa, Guinea, Ghana, Liberia, Benin Republic, Botswana, and Korea.

5. Abdulsamad Rabiu - $4.7 billion

• Date of birth: 4 August 1960
• Age: 65 years (as of 2025)
• Source of wealth: Cement production, sugar refining and real estate

Abdulsamad Rabiu is the founder of BUA Group, a company involved in cement production, sugar refining and real estate. In 1988, he started a business that imported iron, steel and chemicals. He also inherited land from his father, a late successful businessman.

Abdul Samad Rabiu established BUA International Limited for commodity trading, importing rice, flour, oil, and iron. Over time, the company grew and expanded into steel, the production of billets, and construction rolling mills.

Abdul Samad Rabiu is on the list of Forbes' richest men in Nigeria. Currently, Abdulsamad Rabiu's net worth is $4.7 billion.

4. Arthur Eze - $5 billion

• Date of birth: 27 November 1948
• Age: 77 years (as of 2025)
• Source of wealth: Oil production, aviation

Arthur Eze is the Chief Executive Officer of Atlas Oranto Petroleum, one of Nigeria's largest privately-held oil exploration and production companies. In 1992, he founded Triax Airlines following the deregulation of airlines in Nigeria.

Atlas Oranto Petroleum is not just Nigeria's largest privately held oil business but also Africa's largest holder of oil exploration blocs. Presently, Arthur Eze's net worth is $5 billion.

3. Mike Adenuga - $6.2 billion

• Date of birth: 29 April 1953
• Age: 72 years (as of 2025)
• Source of wealth: Telecom and oil production

Mike Adenuga ranks second on the list of the top 10 richest people in Nigeria. He is also one of the richest people in Africa. He owns Globacom, a mobile phone network in the country that is the second-largest telecommunication operator in the West African nation. The telecom company has offices in Cote d’Ivoire, Benin, and Ghana.

Apart from Globacom, the telecom mogul is the owner of Conoil Producing Limited, one of the country's biggest oil companies. Mike Adenuga's net worth is $6.2 billion.

2. Alafaa Kariboye-Igbo, aka Oil Money - $6.3 billion

Date of birth: 21 May 1981

Age: 44 years (as of 2025)

Source of wealth: Real estate, oil, gas, auto dealership, and entertainment

Alafaa Kariboye-Igbo, alias Oil Money, is a business tycoon who was born into a low-income family. He worked hard to become a wealthy man with an estimated net worth of $6.3 billion.

The employer owns Oil Money Records, which helps upcoming artists to release music. He also has investments in real estate, oil and gas production, and vehicle dealerships.

1. Aliko Dangote - $23.2 billion

• Date of birth: 10 April 1957
• Age: 68 years (as of 2025)
• Source of wealth: Cement production, auto manufacture, and fertiliser production

Aliko Dangote takes the first slot on the list of the top 20 richest people in Nigeria. He is also the richest man in Africa. He is the founder and chairman of Africa's largest cement producer, Dangote Cement. He owns 85% of the company.

Aliko Dangote's firm started as a small business that specialised in trading. Today, the business has branches in Nigeria, Ghana, Benin Republic, and Togo. The Dangote Group is famous for being the most influential industrial group in the Western Africa region. It has about 30,000 employees. Aliko Dangote's net worth is $23.2 billion.

2023 ranking of the richest people in Nigeria

Below is a look at the 2023 ranking of the richest people in Nigeria.

2022 ranking of the richest people in Nigeria

Below is a look at the 2022 ranking of the richest people in Nigeria.

2021 ranking of the richest people in Nigeria

Below is a look at the 2022 ranking of the richest people in Nigeria.

Who is the richest man in the world?

The richest man in the world, according to Forbes, is Elon Musk, with a net worth of $389.4 billion.

Is Aliko Dangote the richest man in the world?

No, he is not. Dangote is the richest man in Africa, with a net worth of $23.2 billion as of May 2025. However, he is also one of the richest people in the world.

Who is the richest man in Nigeria?

Aliko Dangote is the richest man in Nigeria, with a net worth of $23.2 billion as of October 2025.

Who is the richest man in Africa?

The wealthiest man on the continent is Aliko Dangote, the founder of Dangote Cement. He is worth $23.2 billion.

How many billionaires are in Nigeria?

Based on the list above, there are 19 dollar billionaires in Nigeria as of 2025.

Who are the top 20 richest persons in Nigeria?

Check out the list of the top 20 wealthiest Nigerians above. They include Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga.

Who are the top 10 richest men in Nigeria?

The top 10 wealthiest men in Nigeria are:

• Aliko Dangote
• Mike Adenuga
• Alafaa Kariboye-Igbo
• Arthur Eze
• Abdulsamad Rabiu
• Cletus Ibeto
• Orji Uzor Kalu
• Tony Elumelu
• Benedict Peters
• Andy Uba.

Who are the top 100 richest men in Nigeria?

Finding out the top 100 richest men in Nigeria would be somewhat of a tall order, as most wealthy people lead very reserved lives. As such, finding the sources of their wealth would be cumbersome. However, you can look at the list above for the 20 richest people in Nigeria.

Who are the top 20 richest men in Nigeria?

The list above can also pass as the list of the top 20 richest men in Nigeria, as it is dominated by men. Almost all of the individuals who made it to the list, with the exception of Folorunsho Alakija, are men.

Who are the richest people in South Africa?

Some of the richest people in South Africa include names like Nicky Oppenheimer and Johann Rupert.

Which family is the richest family in Nigeria?

The richest family in Nigeria is the Dangote family.

Who is the richest boy in Nigeria?

The richest boy in Nigeria is Mompha Junior. He owns several pieces of real estate and is often pictured travelling in a luxury jet.

The richest people in Nigeria have amassed wealth and riches from diverse income streams. They inspire others to pursue their dreams of becoming wealthy and influential.

Legit.ng recently published a list of the richest politicians in Nigeria and their net worth. Nigeria is one of the most populous and largest economies in Africa.

The country has numerous resources and is home to some of the richest people on the continent. Among the wealthy are politicians representing the masses in different capacities and political parties.

Source: Legit.ng