Top 10 Richest Men In Nigeria 2020 And Net Worth

Interesting details about the ranking of the top 10 richest men in Nigeria and their net worth in dollars – Our Country, Nigeria is highly endowed with high profile individuals just like the fertile soil and mineral resources in our lands. The high profile individuals have not only brought glory to the country but to the whole of Africa at large. This is supported by the fact that in the ranking of the wealthiest men within Africa, Nigeria surfaced as one of the richest. Isn’t that wonderful? So let’s get to know more about the richest men in Nigeria 2020 and their net worth.

Do you wish to know these high profile individuals? If your answer is yes, then gently browse through our content where we revealed the richest man in Nigeria. Meanwhile, not only in dignity and respect do these individuals lead but also in terms of money. Today, many Nigerians have been involved in one form of business or the other in order to make ends meet. But who among them has actually gotten to the stage of being tagged the wealthiest men in Nigeria? I guess you will want to know that.

Top 10 Richest Men in Nigeria 2020 And Net Worth

  • 1. Aliko Dangote

Net Worth: $9.5 Billion
State Of Origin: Kano State
Date Of Birth: 10th April 1957
Sector: Commodities

Aliko Dangote

On the position number, one of our rankings is the richest man in Nigeria and the 67th richest individual in the World. When they say a trait is born with someone, I always doubt it until I read about Aliko Dangote. From Junior School level, he has involved himself in petit business to sustain himself.

One amazing thing is that it is not that he lacks money since he was born into a wealthy family but the urge to do business will not just leave him alone. In 1977, he established a small trading firm that metamorphosed into today’s Dangote Group which is now a business conglomerate.

When it comes to consumer goods like sugar, salt, cement, etc. all other producers are a follower of Dangote Group both in Nigeria and Africa at large. As of now, the entrepreneur holds the ownership of many refineries and manufacturing plants. Aliko Dangote has not only contributed to the economy of Nigeria by investing in the country but has also expanded his investment into neighbouring countries like Ghana, Cameron, Togo, Tanzania, and many others.

Currently, he is leading the way in the $9 billion projects that involve the building of a major refinery that will count Nigeria out of those importing oil. What is the net worth of the richest man in Nigeria?

As of now, the estimated net worth of Aliko Dangote is $9.5 Billion.

  • 2. Mike Adenuga

Net Worth: $ 8.7 Billion
State Of Origin: Oyo State
Date Of Birth: 29 April 1953
Sector: Oil And Gas, Telecommunication

Mike Adenuga

On the 29th of April, 1953, the second richest man in Nigeria was given birth. But what makes him the second richest man in Nigeria? Thanks to his investment in the Globacom telecommunication and the petroleum company, Conoil.

Being the largest telecom operator in Nigeria, Globacom has extended his tentacles to other countries like Ghana, CoteD’Ivoire, etc. Being the third richest man in Africa, Mike Adenuga had both his basic and secondary school in Nigeria before flying out of the country to study Business Administration in the United State. After receiving his Bachelor’s Degree from North Western Oklahoma State University, he went on to obtain his MSc. Degree in New York at the Pace University. No wonder, he is a business guru!

His company, Consolidated Oil became the first indigenous company to strike oil in large commercial quantities after receiving a drilling license in 1991. Apart from that, his other company, Globacom was also granted a GSM license in 1999 and 2003. Ever since then, his fully indigenous company, Globacom, has been growing as rapidly as possible. Thanks to Nigerians for using Glo.

When interviewed on how he got his business mind, he answered “I got my business acumen from my mother who was a successful businesswoman” Currently, the net worth of Mike Adenuga is $8.7 Billion. 

  • 3. Abdulsamad Rabiu

Net Worth: $1.4 Billion
State Of Origin: Kano State
Date Of Birth: 4th August 1950
Sector: Manufacturing, Agriculture, and Infrastructure

Abdulsamad Rabiu 

Born and raised in Kano in the independence year, Abdulsalam Rabiu is one of the richest men in Nigeria as a result of his investment in BUA Group. His Father named Khalifah Isyaku Rabiu was said to be a prominent industrialist in the 1970s and 1980s. Abdulsalam attended the Columbus University named Capital University, Ohio in the 1980s after which he returned by to Nigeria to look over the family business. His company, BUA Group, which he established in the year 1988 has grown so well and become a business conglomerate with focuses on manufacturing infrastructure and agriculture. The conglomerate is said to worth $2.5 Billion

Having the second-largest sugar refinery under his control, Rabiu still decided to acquire the Nigeria Oil Mills Limited and a controlling stake in the Cement Company of Northern Nigeria both of which were a success.

He has been honoured in many occasion and a prominent one is the chairman of the Nigerian Bank of Industry. On his contribution, he has also done a lot, these include the construction of the pediatric ward at the Aminu Kano Teaching Hospital and also the construction of Centre for Islamic Studies at the Bayero University Kano, BUK. Currently, the net worth of Abdulsalam is $1.4 Billion on the approximate.

  • 4. Femi Otedola

Net Worth: $1.2 Billion
State Of Origin: Oyo State
Date Of Birth: 4th November 1962
Sector: Oil And Gas 

Femi Otedola

On the 3rd position of our list is the son of the former Lagos State Governor, Micheal Otedola. In the 1980s, Femi Otedola started the journey of his business career when he ran the family’s printing business successfully. Later on, he ventured into the oil and gas industry even though his business actually ranges over a wide spectrum including shipping, real estate, and finance. Currently, he holds the Chairman’s Seat of the major fuel products importer called Forte Oil Plc. Apart from that, he is also counted as the founder of Zenon Petroleum and Gas Ltd.

Blessed with three children, of which two are much known in the entertainment sector. The Famous DJ cuppy is one of them with the name, Florence Otedola. The second is a style blogger and an aspiring designer with the name Elizabeth Temi.

Femi Otedola properties have actually span through the whole of Nigeria and even in the international World. His real estate properties are well known in Dubai, London, and New York City.

In his sojourn to contribute his quotas to the development of Nigeria’s economy, he has involved himself in some major activities which include: the setting up of a scholarship scheme that has helped over 1000 students in his father’s university, Micheal Otedola University and the contribution of 300 Million Naira for the completion of the National Ecumenical Centre which is the Nigeria’s Primary Place of Worship for Christians.

Currently, the net worth of Femi Otedola is $1.2 Billion, which makes him the third richest man in Nigeria.

  • 5. Theophilus Danjuma

Net Worth: $1.2 Billion
State Of Origin: Taraba State
Date Of Birth: 9th December 1938
Sector: Oil And Gas / Politics

Theophilus Danjuma 

Starting from a family that involves farming and metal trading, Danjuma Theophilus has been involved in many business activities that make him be where he is today. Before joining business activities, he was initially involved in military activities which he joined in 1960 after finishing History at Ahmadu Bello University, which was known then as Nigerian College of Art, Science, and Technology. In the military school, he rose from Second Lieutenant to the post of General which definitely increase his status in Nigeria.

Theophilus Danjuma has been involved in many military activities that include: participation in the 1966 Nigerian Coup, release of Jaja Wachuku, who was detained by the Ojukwu Government from prison toward the end of Civil War, serving as the Chief of Staff to General Olusegun Obasanjo when he was the Head of State, Prevention of the Dimka Coup in 1976 and many other activities he was involved in.

Danjuma retired from the military activities in the year 1979 after which he faced business squarely. Currently, Theophilus Danjuma is the Chairman of South Atlantic Petroleum (SAPETRO)

  • 6. Tony Elumelu

Net Worth: $1.2 Billion
State Of Origin: Plateau State
Sector: Finance, Hospitality, Real Estate, Power, etc.

Tony Elumelu is an economist, entrepreneur and also a philanthropist. His investments include Transcorp, United Bank for Africa (UBA) and Heir Holdings. Also, he is the founder of the Tony Elumelu Foundation which has empowered and will be empowering youths for a better tomorrow. Tony Elumelu attended Harvard Business School where he got his Bachelor Degree.

The popularity of Tony has also grown well in the Banking Industry due to the acquisition of Standard Trust Bank and Union Bank and making them be one of the top banks in Nigeria.

His investment area span through the following areas: agribusiness, hospitality, financial services, energy, real estate, and the health sector. All these through his investment company, Heir Holdings. The various position he has occupied include: an advisor to USAID’s Private Capital Group for Africa Partners Forum, Co-Chair of the Aspen Institute Dialogue Series on Global Food Security and also the Chairman of the Ministerial Committee endowed with the responsibility of establishing standard hospitals and diagnostic centers and many others. His current net worth is $1.4 Billion

  • 7. Orji Uzor Kalu

Net Worth: $1.1 Billion
State Of Origin: Abia State
Sector: Politician, Media, Finance, etc.

The seventh on our list of richest men in Nigeria, He Started with the $35 he borrowed from his mother, Uzor Kalu has been able to make a name for himself. During his undergraduate school, he was an activist and was even involved in the Ali Must Go riots which made the school authority to suspend him from school. He, however, uses this opportunity to develop different business ideas that turned out to be good for him. He actually used the money from his mother to start a palm-oil business.

After success in the oil business, he moved to other areas which include sales of furniture at a large scale and this gave birth to the today SLOK Holding that has turned into a business conglomerate. Currently, his net worth is $1.1 Billion.

  • 8. Jim Ovia

Net Worth: $1 Billion
State Of Origin: Delta State
Date Of Birth: 4th November 1951
Sector: Finance / Technology

On our list is the successful man that contribute enormously to Zenith Bank and ensure that the bank got to its climax. Currently, he is the chairman of the bank, founder of Visafone Communications Limited, Chairman of the Nigerian Software Development Initiative, Cyberspace Network Limited and the National Information Technology Advisory Council and finally, he is a member of the Honorary International Investor Council as well as Digital Bridge Institute. Currently, his net worth is $1 Billion.

  • 9. Oba Otudeko

Net Worth: $650 Million
State Of Origin: Oyo State
Date Of Birth: 18th August 1943
Sector: Finance / Commodities

The ninth richest men in Nigeria, with a net worth of $650 Million, Oba Otudeko is the founder of the Honeywell Group and also the Chairman of the FBN Holding Plc. Born as Ayoola Otudeko and trained as an accountant at the Leeds Beckett University, Oba Atedeko served as a banker for over 20 years after which he rose to the CEO of the Cooperative Bank in Ibadan.

His investments include oil and gas, financial services, real estate, marine transportation, and trading.

  • 10. Arthur Eze

Net Worth: $ NS
State Of Origin: Anambra State
Date Of Birth:
Sector: Oil And Gas

Being one of the richest men in Africa and the number 10 richest in Nigeria, Arthur Eze is the founder and chairman of the reputable company named Atlas Petroleum, which has assets in Guinea, Nigeria and many other countries. He studied Chemical and Mechanical Engineering at California State University.


  • Who Is The Richest Man In Nigeria?

Being the wealthiest or among the richest is not actually the main thing, the central point is what have they done to improve the economy of our country to the positive side? Isn’t it? And indeed, these people have actually been trying in one way or the other to ensure that the economy of Nigeria does not even go near crumbling. This has been manifested in the number of industries that they established in the country and the countless job opportunities that they have provided for Nigerians.

But how did they got the money we are talking about today? You will know that in a short while but put it at the back of your mind that these people are more oriented toward getting profit from business than from academic aspect. This is because they believed in solving the problem of citizens, they can kill two birds with a stone- Proffer solution to the problem and at the same time, getting funds into your account. That is why they called them entrepreneurs-they look for problems, proffer solutions to it and also get their own profit from it. Maybe if you also start something now, you will be the Dangote of Tomorrow. Do not be surprised when you notice that some of them did not even come from a high profile family, that is not a necessity.

In this article, we will be looking at the richest men in Nigeria, what they do, how they do it, how they started, and even their net worth. On our list, which is in accordance with Forbes Ranking, we have Alike Dangote as the richest man in Nigeria. You want to know the rest, sit back and let begins.

Read Also: 


Finally, you have been able to know the richest men in Nigeria. However, you should also appreciate that these individuals are patriotic individuals looking at the fact that they receive less support from the Government, yet they are still the ones found in all these responsibilities. Kudos to them all. You know it is not easy to have something and you wish to share it with other individuals unless your mind is philanthropic oriented.

I am proud to be a Nigerian. Are you?

Have a nice day

Tags: Top 10 Richest Men in Nigeria 2020 And Net Worth

Add a Comment

Your email address will not be published. Required fields are marked *