Forbes Top 10 Nigerian Billionaires & Net Worth (2024)

Forbes recently released the list of Nigerian Billionaires who are wealthy business men. Those big names that made the list were ranked based on property, value of shares they have in quoted companies and other assets.


Of course, few popular rich men in Nigeria such as Aliko Dangote, Mike Adenuga and Femi Otedola were no surprise as their names and investments spoke for them. Below are people who were included in the big list of Nigerian billionaires this 2024.

Forbes Top 10 Nigerian Billionaires & Net Worth this 2024

1. Alhaji Aliko Dangote Net Worth $8.6 Billion

Aliko Dangote tops the list as the richest man in Nigeria, Africa and also richest black man on earth with an estimated net worth of $8.6 billion. Aside this feat, he owns the largest conglomerate in Africa known as “The Dangote Group”. This group controls a chain of companies and has operational bases in various African countries.

The story of how Dangote became successful can be found online as he was born with a silver spoon and also in a rich family. Since he began his company in the year 1977, he has remained at the top and has become a very important figure in the economy of Nigeria.

2. Mike Adenuga Net Worth $4.2 Billion

Mike Adenuga is the second Forbes richest Nigerian billionaire just after Dangote with a net worth estimated at $4.2 billion. He has interests in real estate, telecommunication sector and even in the oil and gas industry. He is also the wealthiest Yoruba man in the country.

His company, Globacom (GLO) is the first indigenous telecommunications company in Nigeria, rivaling the likes of other foreign telecoms establishments in the country such as MTN and Airtel. GLO has even gone far as establishing its presence in other African countries like Benin, Ghana and Cote D’ Ivoire.

Mike Adenuga’s oil company, Con-oil which was licensed in 1990 is also the first indigenous company to extract oil in commercial quantities in the country.

3. Femi Otedola Net Worth $1.2 billion

Femi Otedola is a business tycoon and also among the richest men in Nigeria with a net worth of $1.2 billion according to Forbes, 2019. Forte Oil PLC and Zenon Petroleum and Gas Ltd are among his companies. Aside this, he has other investments in real estate, shipping, banking and finance etc.

Femi Otedola’s father was a former governor in Lagos and he has three children who has attained celebrity status. They are DJ Cuppy and Elizabeth Temi, a renowned blogger. He has properties scattered all over the country and other foreign nations.

4. Folorunsho Alakija Net Worth $1.53 billion

Folorunsho Alakija is the richest woman in Nigeria and has been rated by Forbes to be among the richest black women in the world with a net worth estimated at $1.53 billion. Some of her companies include Famfa Oil Limited, Rose of Sharon, etc.

Although she began as a fashion designer, she diversified and invested in the oil and gas sector, printing press, real estate industry and so on. She is among the most influential African women with properties is said to be worth a whopping $100 million in real estate.

5. Theophilus Danjuma Net Worth $1.1 billion

Theophilus Danjuma is another Nigerian billionaire, a retired army general and also a philanthropist. His estimated net worth according to Wikipedia is $1.1 billion.

Danjuma is the CEO of South Atlantic Petroleum (SAPETRO) and during his time in the military, he was involved in various coups in the country.

6. Abdusalam Rabiu Net Worth $1.5 billion

Abdusalam Rabiu is a wealthy business man and also one of the richest men in the country. He is the Chairman of the BUA Group which he founded in 1988. This group is also one of the largest conglomerates in Africa with a worth of $2.5 billion.

Rabiu is also the current chairman of Nigerian Bank of Industry, having an estimated financial worth of $1.5 billion as ranked by Forbes.

7. Tony Elumelu Net Worth $1.4 billion

Tony Elumelu is an entrepreneur, an economist and a philanthropist whose estimated net worth according to Forbes is $1.4 billion. He is famed among the youths in the country especially through his foundation which has helped a lot of start-ups and funded so many small scale businesses.

Tony Elumelu has also managed to transform Standard Trust Bank and United Bank for Africa (UBA), making these financial institution into a pan-African financial institution with presence in over 18 different African countries.

8. Orji Uzor Kalu Net Worth $1.1 billion

Orji Uzor is among the wealthiest Nigerian men who are billionaires and is also active in politics. He was a senator and also a former governor of Abia state. Orji Uzor Kalu is one of the richest Igbo business men in the world with his investments ranging from the media, oil and gas, marine sector and even the furniture industry.

Orji Uzor Kalu owns SLOK Group of companies which is one of the largest conglomerates in Nigeria and he is the founder and publisher of the Daily Sun and the New Telegraph newspapers.

9. Jim Ovia Net Worth $1 billion

Jim Ovia is an economist and an entrepreneur who owns one of the top commercial banks in the country, Zenith Bank. Forbes ranked Ovia whose net worth is $1 billionaire as one of the richest men in the country. Before he sold Visafone Communications Limited to MTN, it was he who grew the company.

10. Oba Otudeko Net Worth $650 million

Oba Otudeko is last on our list on top wealthiest billionaire men in Nigeria and Africa with a net worth estimated at $650 million according to Forbes. His investments ranges from marine, financial services, real estate and even in the oil and gas sector.

Currently, Oba Otudeko is the owner of the Honeywell Group and chairman of FBN Holding Plc.

Others who made the list of richest billionaires in Nigeria are:

11. Umaru Abdul Mutallab: Former Chairman First Bank Plc, Mutallab Group

12. Prince Samuel Adedoyin: Doyin Group

13. Dele Fajemirokun: Chaiman Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards, etc.

14. Chief Cletus Ibeto: Ibeto Group

15. Raymond Dokpesi: Daar Communication, AIT,

16. Tony Ezenna: Orange Group

17. Chief Molade Okoya Thomas: Chairman CFAO Nig and other six french companies

18. Ifeanyi Ubah: Capital oil and gas

19. Leo Stan Ekeh: Zinox Computer

20. Fola Adeola: GTBank

21. Chief Ade Ojo: Distributor of Toyota cars, Elizade Motors Nig LTD

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Oluchi Chukwu

Oluchi is a seasoned Information blogger, content developer and the editor of Nigerian Queries. She is a tech enthusiast who loves reading, writing and research

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