Verily, Nigeria has remained Africa’s largest economy year after year and apparently, this confirms the fact that the West African country experiences recurring increases in economic growth. Meanwhile, this favourable economic growth can be attributed to the massive population contained in Nigeria. Significantly, some demographic studies imply that a country endowed with massive population is likely to generate an enormous number of inhabitants.

Have you ever wondered:

Who Is The Richest Man In Nigeria 2018?
Luckily, Nigeria happens to be the most populous African country and logically, we can conclude that this reason is what distinguishes the country as the largest economy in Africa.

Richest men in Nigeria includes Aliko Dangote, Mike Adenuga, Ibeto, Otedola, Orji Uzor Kalu, Prince Arthur Eze, Jim Ovia, Tony Elumelu, Theophylus Danjuma, Bode Akindele etc.

Without digressing any longer, this very post is actually aimed at enlightening the general audience on Forbes’ latest ranking concerning the richest men in Nigeria. Quite a few, may assume the names of Nigeria’s richest men are already known since these personalities have appeared year after year.

However, it is apparently noteworthy that all these Nigerians have experienced surging wealth as they persist vigorously on the business scene. In that case, some of them have displaced several others and probably, you shouldn’t be surprised if you find out that a certain personality who previously held the 4th option now assumes the 6th position on the list.

Finally, below are the richest Nigerian billionaires whose sumptuous net worth will surely hold you spellbound.

Top 20 Richest Men In Nigeria and Their Net Worth

1. Aliko Dangote

Aliko Dangote richest man in NigeriaAliko Dangote triples up his massive wealth as the richest man in Nigeria, the richest man in Africa and the richest black man in the world. He acquired his huge wealth from his Dangote Group –a large company with subsidiaries specializing in real estate, commodities, telecommunications, etc.

The Dangote Group maintains its prominence by distributing products including salt, cement, sugar, etc. across and beyond Africa. At the moment, Dangote’s net worth stands at $21.1 billion.

2. Mike Adenuga

Mike Adenuga second richest man in Nigeria Mike Adenuga occupies the second spot of richest Nigerian billionaires and significantly, he happens to be the richest Yoruba man. Meanwhile, his huge wealth is associated with his ownership of Glo –an influential company considered as Nigeria’s second-biggest telecom company.
The Second Richest Man In Nigeria

Though the largest portion of his wealth arguably comes from the telecom business, Mike Adenuga magnifies his business involvement as the originator and owner of ConOil. Currently, his net worth hovers around $5.1 billion.

3. Prince Arthur Eze

Prince Arthur Eze is not only an influential man but also one of the richest billionaires hailing from the South East. His wealth has been favoured by constant increases due to his dignified status as the chairman, originator and owner of Atlas Petroleum International Limited –Africa’s biggest owner of oil exploration blocks.

Prince Arthur EzePrince Arthur Eze is declared with some net worth estimated in excess of $4 billion and currently, his oil & gas business –Atlas Oranto Petroleum –spans its business operations across African countries including the Benin Republic, the Gambia, Equatorial Guinea, Senegal, Mali, Ghana, Liberia, Sierra Leone, Ivory Coast and Nigeria.

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4. Cletus M. Ibeto

Cletus Ibeto is not only a distinguished businessman but also one of the reputable industrialists hailing from Nnewi –an Anambra region greatly reputed for having a considerable number of Nigerian billionaires who are South-Easterners.

Cletus Ibeto dominates the industrial terrain of Nnewi for being the leader of The Ibeto Group –the biggest business empire in Nnewi. Through The Ibeto Group, Cletus Ibeto maintains great tastes for services including real estate, petrochemicals, cement production, hospitality, energy, and spare parts for motor vehicles.

Besides his huge net worth estimated at $3.7 billion, Cletus Ibeto stands his ground as one of the richest billionaires within and beyond the Eastern region of Nigeria. To further boost Cletus Ibeto’s achievements, The Ibeto Hospitality –a subsidiary of The Ibeto Group –manages a number of Nigerian hotels.

5. Benedict Peters

Benedict Peters began swirling into prominence beginning from the early 90’s while partnering with influential businessmen such as Onajite Okoloko, Mofe Boyo, Wale Tinubu and Sayyu Dantata (a relative of Aliko Dangote).
Benedict Peters among The Richest Man In Nigeria List

Benedict Peters is associated with business fortune and consequently, he has established himself as the deputy chairman and founding father of Aiteo Group. Currently, his net worth swirls around $2.7 billion.

6. Jim Ovia

Jim Ovia is a distinguished Igbo man who has earned great recognition through business success. He engages in several business activities, particularly as an investor. In this regard, he occupies a massive share portion in Visafone –one of Nigeria’s telecom companies.

Besides his entrepreneurial involvement, which centres on real estate and several other services, Jim Ovia maintains great fame as the founding father of Zenith Bank –one of the leading Nigerian banks. Through the influence of his successful business involvement, Jim Ovia is presently worth $2.3 billion.

7. Theophilus Danjuma

Though he earns massive income from his current petroleum business, Theophilus Danjuma is believed to have garnered the largest portion of his wealth during his military role within the Nigerian Army. For a 4-year period (1975-1979), Theophilus Danjuma served as the Chief of Army Staff of the Nigerian Army.

TY Danjuma also among The Richest Man In Nigeria

As part of his dignified presence within the nation’s group of petroleum dealers, Theophilus Danjuma happens to be the chairman of South Atlantic Petroleum. Based on current estimates, Theophilus Danjuma boasts of $1.8 billion as net worth.

8. Tony Elumelu

Tony Elumelu is an influential Nigerian and business tycoon hailing from the South East. He is greatly acclaimed for his benevolent course as a philanthropist. In previous times, he served as the chairman of UBA (United Bank for Africa) but currently, his wealth surges through his ownership of a well-known company named Transcorp and Heirs Holdings.Tony ElumeluTony Elumelu Among The List of Top 20 Richest Men In Nigeria 2018

In appreciation of his significant efforts, especially his philanthropic course, Tony Elumelu was once bestowed with a prestigious Nigerian title popularly known as CON (Commander of the Order of the Niger). According to recent rankings, Tonu Elumelu’s net worth stands at $1.6 billion.

9. Abdulsamad Rabiu

Abdulsamad Rabiu is unarguably one of the richest Hausa indigenes in the country. Meanwhile, he maintains his wealthy presence as the manager of the BUA Group –one of Nigeria’s biggest flour-mills. With the net worth of $1.5 billion, Abdulsamad Rabiu’s wealth is largely attributed to the BUA Group which specializes in the management of ports and terminals alongside sugar refining and production of flour.

10. Igho Sanomi

Believed to have sneaked into Nigeria’s guild of billionaires at a young age, Igho Sanomi makes a great impact on the business scene as the owner and founding father of Televeras Group –a conglomerate business that offers services spanning across trading, construction, power, and energy.

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As declared by Forbes, Igho Sanomi has solidified his business empire and emerged as one of the young Nigerians dominating the private sector. Meanwhile, Igho Sanomi has obvious tastes for business activities including real estate, aviation, maritime, telecommunications, and oil. At the moment, Sanomi can boast of $1.3 billion as net worth. check here for full detail on Igho Sanomi Net Worth and Biography

Still on …


11. Dr. ABC Orjiako

Regarded as a surgeon, Orjiako diversified himself into the business sector where he has established himself as an oil & gas tycoon. He has buttressed his business presence as the chairman and founding member of SEPLAT –an organization obviously regarded as one of the biggest petroleum development firms in Nigeria.

Having appeared on the pair of London and Nigerian exchanges, SEPLAT is obviously distinguished as the first Nigerian-owned oil & gas firm to have reached this milestone.

Currently, Orjiako’s net worth hovers around $1.2 billion and as an industrious businessman, he has several other business dealings encompassing shipping, pharmaceuticals, real estate and construction.

12. Bode Akindele

Bode Akindele is not only a Nigerian billionaire but also one of the richest Yoruba indigenes. Significantly, he happens to be a vigorous businessman who controls Mondola Group. Meanwhile, his Mondola Group –concerned with several important sectors including transportation, agriculture, real estate, beverages, manufacturing and food processing –is regarded as one of the biggest indigenous conglomerates in Nigeria. As it stands, Bode Akindele is declared with the net worth of $1.2 billion.

13. O.B Lulu Briggs

O.B. Lulu Briggs among The Richest Nigerian Billionaires 2018

O.B Lulu Briggs is one of Nigeria’s reputable citizens who has contributed to the country’s business sector. He is the main factor behind the establishment of Moni Pulo Limited –a large organization concerned with manufacturing, exploration and oil drilling.

Besides his distinguished contributions to the business sector, O.B Lulu Briggs manages a humanitarian establishment –O.B Lulu Briggs Foundation –aimed at promoting the welfare of far-situated villages. Currently, his net worth is estimated at $1.1 billion.

14. Michael Ibru

Michael Ibru happens to be one of the distinguished business personalities originating in the South-South –precisely Delta State. As a wealthy businessman and part of the earliest Nigerian industrialists, Michael Ibru controls the Ibru Organization –a company rated among Nigeria’s biggest conglomerates.

Through the Ibru Organization, Michael Ibru is believed to have alleviated the incidence of unemployment and currently, he has more than 13,000 employees under his management.

At the same time, the Ibru Organization actively specializes in jetty services, poultry business, hotels, fishing, oil & gas, media publishing, shipping and aviation. In accordance with latest rankings, Michael Ibru’s net worth hovers around $1.1 billion.

15. Orji Uzor Kalu

Orji Uzor Kalu Among the list of the Richest Man In Nigeria top 12Orji Uzor KaluPopularly regarded as one of the most influential politicians hailing from the South East, Orji Uzor Kalu engages in several lucrative businesses with the view of magnifying his wealth outside his political position. In previous times, Orji Uzor Kalu served as the governor of Abia State.

As part of the factors behind his wealth, Orji Kalu Uzor owns a renowned publishing agency known as The Sun Publishing. Over and above that, Orji manages SLOK –a company concerned with a number of business activities.

Orji Uzor Kalu magnifies his notability as one of the richest Igbo’s in Nigeria and currently, his net worth hangs around $1 billion.

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16. Femi Otedola

Regarded as one of Nigeria’s biggest personalities –especially on the business scene –Femi Otedola amasses sumptuous wealth as the owner and manager of Forte Oil Plc alongside Zenon Petroleum Oil and Gas.

With a view to boosting his stance as part of the richest Yoruba people, Femi Otedola doubles up his oil & gas business with the distinguished presence in real estate management. As it stands, his net worth is valued at $980 million.

17. Mohammed Indimi

Mohammed Indimi smartens his business involvement as a strategic investor cum entrepreneur. To signify his dignified presence within Nigeria’s oil & gas sector, Mohammed Indimi happens to be the originator of a famous Nigerian oil company known as Oriental Energy Oil Resources Limited. With his current net worth hanging around $670 million, Mohammed Indimi is believed to have reaped immense benefits from his oil company founded in the early 90’s.

18. Tunde Folawiyo

Tunde Folawiyo is the reputable son of late Wahab Folawiyo. He maintains his increasing wealth as the M.D of his late father’s conglomerate –Yinka Folawiyo Group. The conglomerate is a constant enterprise that specializes in various key sectors including engineering, agriculture, real estate, oil & gas and shipping.

With the current net worth of $650 million, Tunde Folawiyo continues to double up his wealth with investments in big organizations including MTN Nigeria and Access Bank. Likewise, Tunde Folawiyo flourishes with the help of Yinka Folawiyo Petroleum –a subsidiary of Yinka Folawiyo Group –concerned with oil exploration.

19. Hakeem Bello Osagie

Hakeem Bello Osagie magnifies his wealth as an industrious business tycoon and current chairman of Etisalat –one of the biggest telecom operators in the country. He is a graduate who has expert knowledge of petroleum economics.

Above his strategic business concern, Hakeem Bello Osagie buttresses his reputation as a philanthropist. According to reports, he constantly contributes some part of his wealth to a South African academic institution –African Leadership Academy. Meanwhile, this academic institution was established with the view of inculcating morals in brilliant South Africans and strengthening them for future leadership.

Hakeem Bello is a distinguished and learned person who graduated from Harvard University. Also, he is reported to have finished an academic programme at Oxford University with an M.A degree. Currently, his net worth stands at $600 million.

20. Oba Otudeko

Among the Top 20 Richest Man In Nigeria and Their Net Worth

Oba Otudeko engages in various businesses –including Fan Milk Nigeria PLC, Airtel Nigeria and Honeywell Group of Companies. Meanwhile, Oba Otudeko serves as the chairman for each of these businesses. In previous times, Oba Otudeko worked as a banker but he stopped working in the banking sector following his resignation from the occupation.

Currently, Oba Otudeko ranks well on the lists of of the nation’s strategic investors, entrepreneurs and several other business moguls. With his net worth valued at $550 million, Oba Otudeko happens to be the 20th richest man in Nigeria.

Hope we have been able to answer the question on Who Is The Richest Man in Nigeria, Top 20 Nigerian Billionaires 2018, I hope to increase this list to the list of Top 50 Richest Men In Nigeria – share your thought and experience with us through the comment box.

Ref: Wikipedia.



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