By Joshua Tosin Ogunsakin 
The richest people in Nigeria in 2024 are worth millions or billions of dollars. They are financially astute people who have invested in key sectors of the country’s and world’s economies.
20. Tony Elumelu – $700 million
Date of birth: 22 March 1963
Age: 61 years (as of 2024)
Source of wealth: Investments in financial services, real estate, hospitality, healthcare, power, oil and gas.
Age: 61 years (as of 2024)
Source of wealth: Investments in financial services, real estate, hospitality, healthcare, power, oil and gas.
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
Date of birth: 4 November 1951
Age: 73 years (as of 2024)
Source of wealth: Banking industry, telecommunication, property.
Age: 73 years (as of 2024)
Source of wealth: Banking industry, telecommunication, property.
In 1990, Jim James Ovia founded Zenith Bank, one of the largest commercial banks in the country. He is the chairman and largest individual shareholder in the business.
He is not just a businessman – he is also involved in philanthropic work. He founded the Youth Empowerment ICT Foundation, an organisation focused on improving Nigerian youth welfare and helping them embrace ICT developments. Jim James Ovia’s net worth is $980 million.
18. Folorunsho Alakija – $1 billion
Date of birth: 15 July 1951
Age: 73 years (as of 2024)
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 sold to high-end clients, including the spouse of Ibrahim Babangida, the former Nigerian president.
Folorunsho Alakija is a philanthropist who donates to widows through the Rose of Sharon Foundation. Her net worth is $1 billion.
Folorunsho Alakija is a philanthropist who donates to widows through the Rose of Sharon Foundation. Her net worth is $1 billion.
17. Pascal Gabriel Dozie – $1 billion
Date of birth: 9 April 1939
Age: 85 years (as of 2024)
Source of wealth: Investments in banking.
Age: 85 years (as of 2024)
Source of wealth: Investments in banking.
Pascal Gabriel Dozie is the founder of Diamond Bank. He also owns shares in MTN Group, a South African multinational mobile telecommunications company. Pascal Gabriel Dozie’s net worth is $1 billion.
16. Igho Sanomi – $1 billion
Date of birth: 17 May 1975
Age: 49 years (as of 2024)
Source of wealth: Investments in telecommunications, shipping, aviation and real estate.
Age: 49 years (as of 2024)
Source of wealth: Investments in telecommunications, shipping, aviation and real estate.
Igho Charles Sanomi is one of the richest people in Nigeria. Besides running successful 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.
15. Jimoh Ibrahim – $1.1 billion
Date of birth: 24 February 1967
Age: 57 years (as of 2024)
Source of wealth: Investments in hospitality, insurance, transportation, oil, gas and real estate.
Age: 57 years (as of 2024)
Source of wealth: Investments in hospitality, insurance, transportation, oil, gas and real estate.
Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist from Igbotako in Okitipupa, Ondo State. He is the chairman of the Global Fleet Group, a large, diverse Nigeria-based conglomerate company. The conglomerate has many subsidiaries in different cities of Nigeria, mainly Lagos and other African countries. It has interests in various sectors, including insurance, hospitality, transport, real estate, oil, and gas. Jimoh Ibrahim is a published author of three books.
He is also the publisher of the National Mirror Newspaper.
He is also the publisher of the National Mirror Newspaper.
Currently, Jimoh Ibrahim’s net worth is of $1.1 billion.
14. Danjuma Theophilus – $1.1 billion
Date of birth: 9 December 1938
Age: 86 years (as of 2024)
Source of wealth: Political career, career in the Nigerian army, shipping, and petroleum exploration.
Age: 86 years (as of 2024)
Source of wealth: Political career, 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.
13. ABC Orjiako – $1.2 billion
Date of birth: 2 October 1960
Age: 64 years (as of 2024)
Source of wealth: Oil and gas industry.
Age: 64 years (as of 2024)
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 Nigeria stock exchanges. ABC Orjiako’s net worth is $1.2 billion.
12. Leo Stan Ekeh – $1.2 billion
Date of birth: 22 February 1956
Age: 68 years (as of 2024)
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.
11. Femi Otedola – $1.5 billion
Date of birth: 4 November 1962
Age: 62 years (as of 2024)
Source of wealth: Petroleum, shipping, real estate, and finance.
Age: 62 years (as of 2024)
Source of wealth: 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. His company, Zenon Petroleum and Gas Ltd, specialises in distribution and marketing. He has made considerable investments in other business spheres, such as finance, real estate, and shipping. In addition, he has invested in power generation in an effort to achieve sector liberalisation. Femi Otedola’s net worth is $1.5 billion.
10. Andy Uba- $2.1 billion
Date of birth: 14 December 1958
Age: 66 years (as of 2024)
Source of wealth: Politics.
Age: 66 years (as of 2024)
Source of wealth: Politics.
Andy Uba was elected the Senator of Anambra South Senatorial District in Anambra State in 2011. 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: 5 December 1966
Age: 58 years (as of 2024)
Sources of wealth: Oil and gas industry.
Age: 58 years (as of 2024)
Sources of wealth: Oil and gas industry.
Benedict Peters is one of the most successful people 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: 10 February 1957
Age: 67 years (as of 2024)
Source of wealth: Oil production.
Age: 67 years (as of 2024)
Source of wealth: Oil production.
Emeka Offor is one of the richest entrepreneurs in Nigeria. He 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
Date of birth: 21 April 1960
Age: 64 years (as of 2024)
Source of wealth: Furniture, manufacturing, and transportation, and politics.
Age: 64 years (as of 2024)
Source of wealth: Furniture, manufacturing, and transportation, and politics.
Orji Uzor Kalu is among the Nigerian billionaires you should know. He is a successful businessman and politician with a net worth of $3.2 billion. He is the sitting senator of Abia North Senatorial District. He is also 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: 6 November 1952
Age: 72 years (as of 2024)
Source of wealth: Cement, energy, and automotive parts production.
Age: 72 years (as of 2024)
Source of wealth: Cement, energy, and automotive parts production.
Cletus Ibeto is the founder and chair of Ibeto Group, the biggest union in the Eastern part of Nigeria. The businessman and humanitarian started as a spare parts import vendor during his college days. In March 1988, he established his auto spares factory called The Ibeto Group in Nnewi. In 1995, his company was named one of the country’s largest manufacturers of auto spare parts. Later on, he founded Ibeto Petrochemical Industries Ltd., which blends oil lubricants and produces various petroleum products for both local and international markets.
5. Abdulsamad Rabiu – $4.7 billion
Date of birth: 4 August 1960
Age: 64 years (as of 2024)
Source of wealth: Cement production, sugar refining and real estate.
Age: 64 years (as of 2024)
Source of wealth: Cement production, sugar refining and real estate.
Abdulsamad Rabiu 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. Abdul Samad Rabiu established BUA International Limited for commodity trading, importing rice, flour, oil, and iron. Over time, the company grew and expanded into steel, the production of billets, and construction rolling mills.
4. Arthur Eze – $5.8 billion
Date of birth: 27 November 1948
Age: 76 years (as of 2024)
Source of wealth: Oil production and aviation.
Age: 76 years (as of 2024)
Source of wealth: Oil production and aviation.
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. Atlas Oranto Petroleum is not just Nigeria’s largest privately held oil business but also Africa’s largest holder of oil exploration blocs.
3. Alafaa Kariboye-Igbo – $6.1 billion
Date of birth: 21 May 1981
Age: 43 years (as of 2024)
Source of wealth: Real estate, oil, gas, auto dealership and entertainment.
Age: 43 years (as of 2024)
Source of wealth: Real estate, oil, gas, auto dealership and entertainment.
Alafaa Kariboye-Igbo, alias Oil Money, is a business tycoon who was born into a low-income family. He worked hard to become a wealthy man with an estimated net worth of $6.1 billion. 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. Mike Adenuga – $6.5 billion
Date of birth: 29 April 1953
Age: 71 years (as of 2024)
Source of wealth: Telecom and oil production.
Age: 71 years (as of 2024)
Source of wealth: Telecom and oil production.
Mike Adenuga ranks second on the list of the top 20 richest people in Nigeria. He owns Globacom, a mobile phone network in the country that is the second-largest telecommunication operator in the West African nation. The telecom company has offices in Cote d’Ivoire, Benin, and Ghana. Apart from Globacom, the telecom mogul is the owner of Conoil Producing Limited, one of the country’s biggest oil companies.
Mike Adenuga’s net worth is $6.5 billion.
1. Aliko Dangote – $11.2 billion
Date of birth: 10 April 1957
Age: 67 years (as of 2024)
Source of wealth: Cement production, auto manufacture and fertiliser production.
Age: 67 years (as of 2024)
Source of wealth: Cement production, auto manufacture and fertiliser production.
Aliko Dangote is takes the first slot on the list of the top 20 richest people in Nigeria. He is also the richest man in Africa. He is the founder and chairman of Africa’s largest cement producer, Dangote Cement. He owns 85% of the company. Aliko Dangote’s firm started as a small business that specialised in trading. Today, the business has branches in Nigeria, Ghana, Benin Republic, and Togo. The Dangote Group is famous for being the most influential industrial group in the Western Africa region. It has about 30,000 employees.
Aliko Dangote’s net worth is $11.2 billion.