List of Nigerian Billionaires By Net Worth

Nigerian billionaires are no longer news as more individuals spring forth with that status, which makes it easy for these individuals to gain recognition regardless of their age, status or achievement.

This post is inspired by the Forbes list of Nigerian Billionaires which is updated yearly. On our part, we will strive to periodically update this in order to keep it fresh and updated, possibly including some newer names as time goes on.

In this post, we look at Forbes’ list of Nigerian billionaires by net worth, as well as their sources of wealth and their position on the list of Nigerian billionaires.

List of Nigerian Billionaires By Net Worth

Below is the Forbes list of Nigerian billionaires according to their net worth.

7. Prince Munir Ned Nwoko – $1.2 Billion

More popularly known as Ned Nwoko, Prince Munir Ned Nwoko is a Nigerian lawyer and polygamist businessman from Aniocha North, in Delta State. Ned Nwoko is a politician and was a member of the lawmaker between 1999 and 2003 and represented Aniocha North-South and Oshimili North-South of Delta during the time of Olusegun Obasanjo as the president of Nigeria. Ned Nwoko is of blue blood (from a royal family) and has a law firm in the United Kingdom.

Ned Nwoko has six wives, including popular Nollywood actress, Regina Nwoko (nee Daniels) who is currently the youngest wife. Ned Nwoko is one of Nigeria’s richest personalities with a net worth of $1.2 billion.

6. Folorunso Alakija – $1.9 Billion

Folorunso Alakija is the undisputed richest woman in Nigeria and Africa with a net worth of $1.9 billion. The serial entrepreneur and philanthropist was once the third richest person in Nigeria after Dangote and Otedola but slipped further down as the sixth Nigerian billionaire. The bulk of her wealth comes from oil & gas but the businesswoman also rakes in decent money from fashion, real estate and printing services.

Folorunso Alakija is married to Modupe Alakija, a lawyer since 1976 and they both have four boys together. Alakija is the richest woman in Nigeria and Africa and one of the richest persons on the continent with a net worth of $1.9 billion.

5. Orji Uzor Kalu – $3.2 Billion

Orji Uzor Kalu is a former Nigerian governor who served as the governor of Abia State from May 29, 1999, to May 29, 2007, with a net worth of $3.2 billion.  He is also the Chairman of SLOK Holding and also owns the New Telegraph and Daily Sun newspapers.

Orji Uzor Kalu married Ms Ifeoma Ada Menakaya in December 1989 and the couple has four children; two boys and two girls. Orji Uzor Kalu is one of the richest persons from South-East Nigeria with a net worth of $3.2 billion.

4. Abdul Samad Rabiu – $4.5 Billion

Abdul Samad Rabiu is a Nigerian businessman, philanthropist, founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture with a revenue production of over $2.5 billion. Rabiu, though from Nothern Nigeria, is the closest competitor to Aliko Dangote in terms of the Nigerian market. Mr Rabiu is married and has four. The billionaire also has 42 siblings. Abdul Samad Rabiu has a net worth of $4.5 billion.

3. Femi Otedola – $5.9 Billion

Femi Otedola is a Nigerian businessman and philanthropist and former chairman of FORTE Oil PLC. Mr Femi founded Zenon Petroleum and Gas Ltd and owns a sizeable number of businesses within the real estate, finance and shipping industries. The Ibadan-born billionaire has four children—Tolani, Florence (DJ Cuppy), Temi and Few. Femi Otedola is Nigeria’s third-richest person with a net worth of $5.9 billion.

2. Mike Adenuga – $7.7 Billion

Michael Adeniyi Agbolade Ishola Adenuga Jr more commonly known as Mike Adenuga is a Nigerian businessman and the second-richest person in Nigeria with a net worth of $7.7 billion. He owns Globacom, an indigenous Nigerian telecommunication company and the third-largest telecommunication company in Nigeria after MTN and Airtel. Adenuga own stakes in Conoil and Equitorial Trust Bank and his telecommunication company has presence in Benin Republic and Ghana. Mike Adenuga’s net worth is $7.7 billion, making him the second-richest person in Nigeria.

1. Aliko Dangote – $12.1 Billion

Aliko Dangote is Nigeria’s and Africa’s richest person with a net worth of $12.1 billion. The business magnate is the founder and chairman of Dangote Groups—a conglomerate that is into the production of several products including sugar, flour and cement. Dangote is expected to be the largest and sole importer of fuel in Nigeria by 2025 upon the completion of his refinery. Dangote has been divorced twice and he has four children—three females and a male who was adopted. Aliko Dangote is the wealthiest man in Africa with a net worth of $12.1 billion.

List of Nigerian Billionaires By Net Worth