Top 20 richest people in Nigeria in 2023 and their net worth

Top 20 richest people in Nigeria in 2023 and their net worth

There are numerous millionaires in contemporary Nigeria. Numerous people are curious about the net worth of the richest people in Nigeria. These people have multiple income streams, including investments in various sectors of the Nigerian economy. Their wealth has made them prominent locally and internationally.

Richest people in Nigeria
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Source: UGC

Who are the richest people in Nigeria, and where did they get their riches? Read on to discover the wealthiest people in the country and how much they are worth.

Richest people in Nigeria in 2023

The richest people in Nigeria in 2023 are worth millions or billions of dollars. They are financially astute people who have invested in key sectors of the country's economy.

20. Tony Elumelu - $700 million

billionaires in nigeria
Tony Elumelu, chairman of Heirs Holdings Ltd. and chairman of United Bank for Africa PLC, departs the Tech For Good meeting at Elysee Palace in Paris, France. Photo: @Christophe Morin/Bloomberg
Source: Getty Images
  • Date of birth: 22nd March 1963
  • Age: 59 years (as of 2023)
  • Source of wealth: Investments in financial services, real estate, hospitality, healthcare, power, oil, and gas

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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 $700 million.

19. Jim Ovia - $980 million

richest businessmen in nigeria
Jim Ovia, chairman of Zenith Bank Plc, following an interview on the opening day of the 28th World Economic Forum (WEF) on Africa in Cape Town, South Africa. Photo: @Waldo Swiegers/Bloomberg
Source: Getty Images
  • Date of birth: 4th November 1951
  • Age: 71 years (as of 2023)
  • Source of wealth: Baking industry

Jim James Ovia's net worth is $980 million. In 1990, Ovia founded Zenith Bank, one of the largest commercial banks in the country. He is the chairman and largest individual shareholder in the business.

18. Igho Sanomi - $1 billion

  • Date of birth: 17th May 1975
  • Age: 47 years (as of 2023)
  • Source of wealth: Investments in telecommunications, shipping, aviation and real estate investments

Igho Charles Sanomi is one of the ‌richest businessmen in Nigeria. Besides running sucessful 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.

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17. Folorunsho Alakija - $1 billion

the richest woman in nigeria
Billionaire Folorunso Alakija, Nigeria's richest woman, holds up a business award during a Bloomberg interview in Lagos, Nigeria. Photo: @George Osodi/Bloomberg
Source: Getty Images
  • Date of birth: 15th July 1951
  • Age: 71 years (as of 2023)
  • 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 sole to high-end clients, including the spouse Ibrahim Babangida, the former Nigerian president. Folorunsho Alakija's net worth is $1 billion.

16. Pascal Gabriel Dozie - $1 billion

who is the richest man in nigeria
Co-chairman of the Commonwealth Business Council, Pascal Dozie, addresses the opening ceremony of the Commonwealth Business Forum in Perth. Photo: @TONY ASHBY/AFP
Source: Getty Images
  • Date of birth: 9th April 1939
  • Age: 83 years (as of 2023)
  • Source of wealth: Investments in banking

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

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15. Jimoh Ibrahim - $1.1 billion

  • Date of birth: 24th February 1967
  • Age: 55 years (as of 2023)
  • Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate

Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. He owns the business conglomerate called Global Fleet Group. The company has interests in various sectors, including insurance, hospitality, transport, real estate, oil, and gas.

14. Danjuma Theophilus - $1.1 billion

  • Date of birth: 9th December 1938
  • Age: 84 years (as of 2023)
  • Source of wealth: Politics, 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 retiring, he founded the Nigeria America Line shipping company. He also founded COMET Shipping Agencies Nigeria and South Atlantic Petroleum Limited. Danjuma Theophilus' net worth is $1.1 billion.

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13. Leo Stan Ekeh - $1.2 billion

  • Date of birth: 22nd February 1956
  • Age: 66 years (as of 2023)
  • 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. ABC Orjiako - $1.2 billion

  • Date of birth: 2nd October 1960
  • Age: 62 years (as of 2023)
  • 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 Nigerian stock exchanges. ABC Orjiako's net worth is $1.2 billion.

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11. Femi Otedola - $1.8 billion

richest businessmen in nigeria
Femi Otefola pictured outdoors. Photo: @femiotedola (modified by author)
Source: UGC
  • Date of birth: 4th November 1962
  • Age: 60 years (as of 2023)
  • Source of wealth: Investments in 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's net worth is $1.8 billion.

10. Andy Uba - $2.1 billion

who is the richest man in nigeria
Andy Uba looks on ahead of the next governorship election in Akwa, Anambra State, in southeast Nigeria. Photo: @PIUS UTOMI EKPEI/AFP
Source: Getty Images
  • Date of birth: 14th December 1958
  • Age: 64 years (as of 2022)
  • 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. Benedict Peters - $2.7 billion

  • Date of birth: 5th December 1966
  • Age: 56 years (as of 2023)
  • Sources of wealth: Oil and gas industry

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Benedict Peters is one of the billionaires 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.

8. Emeka Offor - $2.9 billion

  • Date of birth: 10th February 1957
  • Age: 65 years (as of 2023)
  • Source of wealth: Oil production

Emeka Offor 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 $2.9 billion.

7. Orji Uzor Kalu - $3.2 billion

who is the richest man in nigeria
Orji Uzor Kalu in traditional Nigerian outfits. Photo: @Senator Orji Uzor Kalu (modified by author)
Source: UGC
  • Date of birth: 21st April 1960
  • Age: 62 years (as of 2023)
  • Source of wealth: Businesses and political career

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Orji Uzor Kalu is a successful businessman and politician with a net worth of $3.2 billion. He is the sitting senator of Abia North Senatorial District and the Chief Whip of the House of Senate in the Federal Republic of Nigeria.

He is the CEO of SLOK Holding, a company with investments in banking, shipping, manufacturing, oil trading, and media.

6. Cletus Ibeto - $3.8 billion

  • Date of birth: 6th November 1952
  • Age: 70 years (as of 2023)
  • Source of wealth: Cement, energy, and automotive parts production

Cletus Ibeto is the founder and chair of the biggest union in the Eastern part of Nigeria called Ibeto Group. The astute businessman and humanitarian started as an extra parts import vendor back in his college days. Today, Cletus Ibeto's net worth is $3.8 billion.

5. Mike Adenuga - $5.7 billion

  • Date of birth: 29th April 1953
  • Age: 69 years (as of 2023)
  • Source of wealth: Telecom and oil production

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Mike Adenuga is the fifth-richest person in Nigeria, with a net worth of $5.7 billion. He owns Globacom, a mobile phone network in the country. The network is the third-largest operator in Nigeria. He also owns Conoil Producing, an oil exploration business.

4. Arthur Eze - $5.8 billion

  • Date of birth: 27th November 1948
  • Age: 74 years (as of 2023)
  • Source of wealth: Oil production

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. Arthur Eze's net worth is $5.8 billion.

3. Alafaa Kariboye-Igbo - $6.1 billion

billionaires in nigeria
Oil Money posing for pictures in an orange suit and outdoors in Greece. Photo: @oilmoneyofficial (modified by author)
Source: UGC
  • Date of birth: 21st May 1981
  • Age: 41 years (as of 2023)
  • Source of wealth: Business investments in real estate, oil, gas, auto dealership, and entertainment

Alafaa Kariboye-Igbo is commonly known as Oil Money. The 41-year-old business tycoon was born into a low-income family, but he worked hard to become a wealthy man with a net worth of $6.1 billion.

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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 dealership.

2. Abdul Samad Rabiu - $7.9 billion

billionaires in nigeria
Abdul Samad Rabiu, chief executive officer of BUA Group, at the Africa CEO Forum in Abidjan, Ivory Coast. Photo: @Andrew Caballero-Reynolds/Bloomberg via Getty Images
Source: Getty Images
  • Date of birth: 4th August 1960
  • Age: 61 years (as of 2023)
  • Source of wealth: Cement production, sugar refining and real estate

Abdulsamad Rabiu is the second-richest man in Nigeria, with a net worth of $7.9 billion. He 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.

1. Aliko Dangote - $12.6 billion

richest people in nigeria
Aliko Dangote, billionaire and chief executive officer of Dangote Group, reacts during a panel session at the World Economic Forum (WEF) in Davos, Switzerland. Photo: @Jason Alden/Bloomberg
Source: Getty Images
  • Date of birth: 10th April 1957
  • Age: 65 years (as of 2023)
  • Source of wealth: Cement production, auto manufacture, and fertiliser production

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Is Aliko Dangote the richest man in the world? He is not the wealthiest in the world but the wealthiest in Africa.

Dangote is the founder and chairman of Africa's largest cement producer, Dangote Cement. He owns 85% of the company. Dangote's net worth is $12.6 billion.

Recap of the top 20 richest people in Nigeria

RankNameNet worth
1Aliko Dangote$12.6 billion
2Abdul Samad Rabiu$7.9 billion
3Alafaa Kariboye-Igbo$6.1 billion
4Arthur Eze$5.8 billion
5Mike Adenuga$5.7 billion
6Cletus Ibeto$3.8 billion
7Orji Uzor Kalu $3.2 billion
8Emeka Offor$2.9 billion
9Benedict Peters$2.7 billion
10Andy Uba$2.1 billion
11Femi Otedola $1.8 billion
12ABC Orjiako$1.2 billion
13Leo Stan Ekeh$1.2 billion
14Danjuma Theophilus$1.1 billion
15Jimoh Ibrahim $1.1 billion
16Pascal Gabriel Dozie$1 billion
17Folorunsho Alakija$1 billion
18Igho Sanomi $1 billion
19Jim Ovia$980 million
20Tony Elumelu$700 million

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Who is the richest man in the world?

The richest man in the world according to Forbes is Bernard Arnault & family, with a net worth of 180.8 billion. Elon Musk comes in second, with a net worth of $137.6 billion.

Who is the richest man in Africa?

The wealthiest man on the continent is Aliko Dangote, the founder of Dangote Cement. He is worth $12.6 billion.

Who is the richest man in Nigeria?

The richest person in Nigeria in 2023 is Aliko Dangote, with a net worth of $12.6 billion.

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.

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