Yay! We are pleased to present the most up-to-date ranking of the top five richest men in Nigeria as of 2023, along with their current net worth.
Here, you will learn more about their business career, investments, assets, honours, lifestyle, and other facets of their life.
Who are the wealthiest Nigerian males in the world right now?
Nigeria is a large nation with a significant presence on the African continent due to its size. It is one of the most well-known countries in this region, due in large part to its historical accomplishments, well-respected citizens, and global presence in virtually every industry.
Even more evident of Nigeria’s dominance is the fact that the overwhelming majority of the country’s wealthiest men are also among the world’s wealthiest Africans.
Even though a significant number of Nigerians are among the wealthiest Africans in the world, wealth distribution in the country is unequal across the board.
This article will discuss some of the wealthiest individuals in Nigeria. Readers will be provided with additional information regarding some of the world’s wealthiest and most influential people.
We have decided to compile a list of the top five richest individuals in Nigeria, including their current net worth and a brief biography.
The 5 Richest Men In Nigeria 2023
The top 5 richest men in Nigeria are listed below…
1. Dangote (Net Worth: $12 Billion)
Currently, Aliko Dangote is the wealthiest individual in Nigeria. This is the most recognisable business name in the globe.
In the aftermath of his unparalleled success, which he attained through his superior business acumen and experience, he has set a precedent for others to follow.
Many people immediately attribute his success to the fact that he was born into an affluent Muslim family, but this is not the case when you consider that he has exceeded the expectations and wealth of those who came before him through his exceptional business skills and competence.
Today, the Dangote Group and its subsidiaries exercise complete market dominance over their competitors in all of the countries in which they operate (Benin, Ghana, Nigeria, Zambia, and Togo), despite being present in only five of those countries.
As the Dangote group’s operations have expanded, trading in agricultural commodities such as legumes, wheat and sugar has given way to manufacturing, processing and freight transportation. The conglomerate includes Dangote Sugar Refinery, Dangote Cement, Dangote Flour, and other enterprises.
In addition, the Dangote refinery is currently under construction, and it is anticipated that, once operational, it will triple his net worth.
Each subsidiary of the Dangote group generates substantial profits at the end of each fiscal year, ensuring that his net worth will continue to grow over time.
Forbes reports that Aliko Dangote, with a massive net worth of $12 billion, is both the richest individual in Nigeria and the most innovative businessman to have ever existed on the African continent.
2. Mike Adenuga (Net Worth: $7 billion)
Chief Michael Adeniyi Agbolade Ishola Adenuga Jr. is one of the most eminent figures to emerge from Nigeria and Africa in general.
He is not only one of the wealthiest individuals in Africa, but also one of the wealthiest people in Africa.
Through his numerous well-known business ventures, which have permeated the fundamental and daily lives of Nigerians, he has nearly attained the status of a household name.
Mike began his career as a trader who dealt in textile materials and large-scale soft drink distribution.
This enterprise was the source of his first million dollars in his business career.
This enterprise also assisted him in raising sufficient capital to launch his own drilling and exploration company, Consolidated Oil.
In the southwestern region of Ondo state, he discovered oil in 1991 after receiving his first drilling licence in 1991. His company became the first indigenous company in the nation to accomplish this, and it has since flourished.
Mike has also diversified his business portfolio into the well-known telecommunications industry, Globacom. This company offered formidable competition to the nation’s extant networks, and as a result, it achieved enormous success.
His telecom company, Globacom, expanded rapidly and began to compete with the massive MTN Group. It began offering services in Benin in 2008, and has since expanded to Ghana and Côte d’Ivoire, while pursuing licences in additional West African nations.
Mike also possesses substantial shares of Equatorial Bank and Conoil. His current net worth of $7 billion makes him the second wealthiest individual in Nigeria.
3. Alafaa Kariboye-Igbo (Net Worth: $6.1 Billion)
It is comprehensible that this name may sound odd to many individuals. Alafaa is obviously a Nigerian native who does not reside in Nigeria.
Alafaa, who was born on August 21, 1981, operates the majority of his enterprises as a businessman, entrepreneur, investor, etc., from the United Kingdom.
The majority of his business is diversified across multiple industries. He is well-known for his investments in real estate, oil and gas, and automobiles.
In addition to his business in the entertainment industry through his subsidiary group Oil Money recordings, he is also involved in event promotion.
Due to his relative unpopularity within the Nigerian community, this may come as quite a shock to the majority of readers of this article. Nonetheless, he achieved his spot on this list with a staggering $6.1 billion in net worth.
4. AbdulSamad Rabiu (Net Worth: $5.5 Billion)
AbdulSamad is a billionaire businessman and industrialist who took over his father’s business enterprise in Nigeria and reformed it.
During the 1970s and 1980s, his father, Khalifah Isyaku Rabiu, was a well-known industrialist. Abdul Samad pursued a postsecondary degree at Columbia University in order to take over the family business following his father’s retirement.
AbdulSamad immediately established his own company, BUA International group, to supplant that of his father, who was already in tax trouble with the Buhari administration.
This organization’s primary activity is the trading of commodities such as rice, ground seed oil, flour, iron, and steel.
In late 1990, after a few years of operation, the government awarded the company a contract to manufacture basic materials for exchange.
This proved to be the company’s major break, as the group was able to expand to new regions and increase its size.
Since then, this group has experienced exponential expansion, generating enormous profits for Abdul Samad. Abdul Samad Rabiu is currently one of the wealthiest individuals in Nigeria and the chairman of the Bank of Industry.
5. Orji Uzor Kalu (Net Worth: $2.3 million)
Orji Uzor Kalu is a well-known magnate in Nigeria due to his status as an eight-year-long former governor of Nigeria.
As soon as he departed office, he was arrested on charges of bribery, corruption, and a number of other financial crimes, due to the controversy surrounding the end of his term as governor.
However, this did not prevent him from becoming one of the wealthiest individuals in Nigeria. Intriguingly, he ranks among the top 10 wealthiest politicians in Nigeria.
Before becoming the governor of Abia state, Orji was a palm oil trader who purchased from the East and sold to the North of Nigeria.
He also ventured into the business of selling large furniture until establishing SLOK holdings, a conglomerate with numerous subsidiaries.
This company expanded throughout Nigeria and eventually gained a foothold in countries beyond its borders.
Who is richest man in Africa 2023?
Aliko Dangote, a Nigerian business magnate, was considered the richest man in Africa. He had a net worth of around 13.5 billion U.S. dollars and ranked 128th worldwide. From Nigeria, he is the founder and chairman of the Dangote Group, a large conglomerate operating in several sectors including cement and sugar.
What is the richest tribe in Nigeria 2023?
Igbo is the wealthiest tribe in Nigeria. The Igbo populate the states of Abia, Anambra, Ebonyi, Enugu, and Imo. This tribe has the most prosperous population in Nigeria.
Who is the youngest billionaire in Africa?
The youngest billionaire in Africa was Mohammed Dewji from Tanzania. However, please note that the rankings of billionaires can change over time due to fluctuations in their net worth and the emergence of new billionaires. I recommend checking reliable and up-to-date sources to obtain the most recent information on billionaires in Africa.
Who is the richest kid in the world 2023?
Princess Charlotte has been referred to as “the richest kid in the world” because she is a member of the British royal family, one of the wealthiest and most prominent royal families in the world.