10 Richest Entrepreneurs and Business Owners in Nigeria Net worth

Faces of Nigerians who are into businesses

Who are the richest entrepreneurs in Nigeria in 2019?

This is our annual updates of the richest entrepreneurs and businessmen and women in Nigeria, the 2019 edition.

Nigeria is home to the richest man in Africa and other successful entrepreneurs in the continent of Africa.

In the year in view – 2019, there are some entrepreneurs who have become millionaires in Nigeria and others who have retained their billionaire titles.

Faces of Nigerians who are into businessesThe good thing though, is that there is hope for many other entrepreneurs in Nigeria who wants their businesses to become very successful too. With hard work, consistency and patience, they will surely get to their desired destination someday.

So who are the richest entrepreneurs in Nigeria for the year 2019?

Well, it seems like it’s still the same old faces but hey, there is room for every hard-working entrepreneur to make it to this list someday soon.

Here are the richest entrepreneurs and businessmen in Nigeria in 2019.

Aliko Dangote

Net worth: $10.3 billion

Origin of wealth: Cement, sugar, flour

Age: 62

Brief History

Aliko Dangote is the richest man in Nigeria.

He is a Nigerian business magnate, investor, and owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries.

Dangote is ranked by Forbes magazine as the 100th-richest person in the world and the richest in Africa and peaked on the list as the 23rd-richest person in the world in 2014.

Aliko surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the world’s richest person of African descent.

Mike Adenuga Jr.

Net worth: $9.1 billion

Origin of wealth: Telecommunications and oil production

Age: 66

Brief History

Mike Adenuga is a Nigerian billionaire businessman and the second-richest person in Africa.

His company Globacom is Nigeria’s second-largest telecom operator and has a presence in Ghana and Benin. He owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company).

Forbes has estimated his net worth at $9.4 billion as of 2019.

Femi Otedola

Net worth: $1.8 billion

Origin of wealth: oil and gas

Age: 56

Brief History

Femi Otedola is a Nigerian businessman, philanthropist, and chairman of Forte Oil PLC, an importer of fuel products. Otedola is the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance.

He has recently invested in power generation as part of the liberalisation of the sector in Nigeria.

Folorunsho Alakija

Net worth $1.7 billion (as of 2018)

Origin of Wealth: Oil and Gas, Fashion

Age: 68

Brief History

Folorunsho Alajija is a Nigerian billionaire businesswoman, one of the richest African women, and one of the richest black women in the world.

In 2014, she temporarily unseated Oprah Winfrey as the richest woman of African descent in the world.

She is involved in the fashion, oil, real estate and printing industries.

She is the group managing director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited, Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited.

She also has a majority stake in DaySpring Property Development Company.

Alakija is ranked by Forbes as the richest woman in Nigeria. As of 2015, she is listed as the second most powerful woman in Africa after Ngozi Okonjo-Iweala and the 87th most powerful woman in the world by Forbes.

Abdul Samad Rabiu

Net worth: $1.0 billion (2015)

Origin of wealth: Oil and Gas and Manufacturing

Age: 59

Brief History

Abdul Samad Rabiu is one of the richest men in Nigeria. He is a Nigerian businessman and billionaire. His father, late Khalifah Isyaku Rabiu was one of Nigeria’s foremost industrialists in the 1970s and 1980s.

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

He is also the chairman of the Nigerian Bank of Industry (BOI).

Theophilus Danjuma

Net worth: $0.7 billion (2015)

Origin of wealth: Oil and Gas

Age: 80

Brief History

General Theophilus Yakubu Danjuma GCON FSS psc (Rtd) is a Nigerian soldier, politician, multi-millionaire businessman and philanthropist. He was Nigerian Army Chief of Army Staff from July 1975 to October 1979.

He was also Minister of Defence under President Olusegun Obasanjo’s administration. Danjuma is chairman of South Atlantic Petroleum (SAPETRO).

Tony Elumelu

Brief history

Tony Elumelu is an economist, entrepreneur, and philanthropist. He is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation.

Elumelu holds the Nigerian national honours, the Commander of the Order of the Niger (CON) and Member of the Order of the Federal Republic (MFR). He was recognised as one of “Africa’s 20 Most Powerful People in 2012” by Forbes magazine.

Networth: $0.7 billion

Origin of wealth

Age: 56

Jim Ovia

Net worth: $550 million

Origin of wealth: Banking, Telecommunications

Age: 67

Brief History:

Jim Ovia is a Nigerian businessman. He founded Zenith Bank in 1990. He is one of the richest businessmen in Nigeria.

Orgi Uzor Kalu

Net worth: $330 million (2015)

Origin of wealth:  Aviation, Shipping, publishing, manufacturing

Age: 59

Brief History:

Orgi Uzor Kalu is one of the richest Nigerian businessmen and politicians.

He is the chairman of SLOK Holding and the Daily Sun and New Telegraph newspapers in Nigeria, who served as the governor of Abia State, Nigeria from May 29, 1999, to May 29, 2007.

Prior to his election, he served as the chairman of the Borno Water Board and the chairman of the Cooperative and Commerce Bank Limited.

Kalu was also a member of the Peoples Democratic Party (PDP), Progressive Peoples Alliance (PPA) and the chairman of the PPA Board of Trustees.

He was the party’s presidential candidate in the April 2007 general election. He is currently a member of the ruling party after he officially announced his resignation as a PPA BOT.

Oba Otudeko

Net worth: $550 million

Origin of wealth: Oil and gas, flour milling, real estate, and marine transportation

Age: 75

Oba Otudeko is a businessman who serves as the founder and chairman of the Honeywell Group.

He also serves as chair of FBN Holdings and founder of the Oba Otudeko Foundation.

So there you have it. Those are the names of some of the richest businessmen and entrepreneurs here in Nigerian in 2019.

Did we omit anyone who should have made the list? It’s your turn to add them in your contributions in the comment section.



  1. ABC Orjiakor, Sam Iwuajoku, Asiwaju Bola Tinubu, Alhaji Indimi, Aderinokun family, Fola Adeola, Domkat Bali, Olusegun Obasanjo, Subomi Balogun, Folawiyo, Oniru family, Onikoyi family, Ben Murray-Bruce, Adeleke family, Saraki, Ron Chagoury, Chanrai family, Boulos family


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