4 Nigerian business tycoons make Forbes list of the world’s black billionaires of 2019

4 Nigerian business tycoons make Forbes list of the world’s black billionaires of 2019

Despite the scary and startling statistics of poverty that has been recorded in Nigeria, there are still a handful of people that have managed to make headway and boast of wealth and success.

Forbes recently released its 2019 list of the world’s billionaires and it is impressive to note that a number of black people also clinched top spots on the list.

Even more interesting is the fact that of the eleven blacks that made it into the list; four are from Nigeria.

The list featured popular Nigerian business moguls, Aliko Dangote, Mike Adenuga , Abdulsamad Rabiu, and Folorunso Alakija.

READ ALSO: 91 million Nigerians now living in extreme poverty - World Poverty Clock

Aliko Dangote

Dangote retains his title as the world’s richest black man this year with an estimated fortune of $10.9 billion. He started out in business more than three decades ago by trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle and went on to build the Dangote Group, the largest industrial conglomerate in West Africa. He is also set to launch a private oil refinery in Nigeria which will have a refining capacity of 6500,000 barrels a day and is expected to reduce the country’s dependence on oil imports.

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Mike Adenuga

Mike Adenuga follows closely as the world’s second richest black person with an estimated fortune of $9.1 billion. He built his fortune in oil and mobile telecoms. His Conoil producing company was one of the first indigenous Nigerian companies to be granted an oil exploration license in the early 90s. He is also the sole owner of Globacom, a Nigerian mobile phone network with more than 40 million subscribers in Nigeria and neighboring African countries.

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Abdulsamad Rabiu

Abdulsamad Rabiu follows as the third Nigerian after Adenuga, with an estimated fortune of $1.6 billion. He is the founder of BUA Group, a Nigerian conglomerate with interests in sugar refining, cement production, real estate, steel, port concessions, manufacturing, oil gas and shipping. BUA Group’s annual revenues are estimated at over $2 billion. He got into business by working for his father, Isyaku Rabiu, a successful businessman from Nigeria’s northern region. He struck out on his own in 1988 importing rice, sugar, edible oils as well as steel and iron rods.

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Folorunso Alakija

Folorunso Alakija with an estimated fortune of $1.1 billion is Nigeria’s first female billionaire and the founder of Famfa Oil, a Nigerian company that owns a substantial participating interest in OML 127, a lucrative oil bloc on the Agbami deep-water oilfield in Nigeria. She started off as a secretary in a Nigerian merchant bank in the 1970s, then quit her job to study fashion design in England. Upon her return, she founded a Nigerian fashion label that catered for upscale clientele, including Maryam Babangida, wife to Nigeria's former military president Ibrahim Babangida.

READ ALSO: NAIJ.com upgrades to Legit.ng: a letter from our Editor-in-Chief Bayo Olupohunda

In other news, Legit.ng had previously gathered the report of popular Nigerian singer 2baba, who had taken to social media with a note of appreciation to his fans and supporters. The singer who is set to mark his 20 years anniversary in the music industry, thanked them for their love and support through his musical sojourn.

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