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Friday, February 22, 2013


Aliko Dangote
Very few Nigerians have made the Forbes list of richest people in the world the reason been that Forbes estimates the wealth of individuals and rank them based on the value of shares they have in quoted companies (companies listed on the stock exchange).
The list of top 20 Richest Nigerian billionaires has been based on:
The value of their shares held in quoted companies, the size and market share of their companies, the number of companies they own and its assumed value, the market value of their company’s brand and the impact of their companies on the Nigerian economy.
Despite the harsh terrain and business challenges involved with starting a business in Nigeria; the successful entrepreneurs listed below held their ground and fought their way to the top.
In a country with a population of over 160 million inhabitants and millions of businesses; these 20 entrepreneurs diligently carved their names in the sands of time.
In this report, brings to you the top 20 richest Nigerian billionaires.

Alhaji Aliko Dangote, founder of Dangote Group, which he currently presides over as President and Chief Executive, is the richest man in Africa and Richest black man in the world
Dangote is a graduate of Business Studies from the Al-Azahar University, Cairo, Egypt. He started business in 1978 trading in rice, sugar and cement, before he ventured into full-scale manufacturing.

Mike Adenuga, the chairman of Globacom, Conoil and Equatorial Trust Bank is the second richest man in Nigeria.
Mike Adenuga
Mike Adenuga is certainly no kid in the block as far as entrepreneurial acumen is concerned. He had attracted national identity as far back as 1991 when his Consolidated Oil Limited struck oil in commercial quantity. He is reputed to have distinguished himself in the business of importation at the young age of 22.And ever since, Dr Mike Adenuga has bestrode the world of modern business like a colossus.

Femi Otedola, son of former Lagos State governor, Sir Michael Otedola, is the CEO of African Petroleum Plc. He is the billionaire owner of multi-billion naira indigenous oil giant Zenon. Zenon Nigerian President Chief Executive officer of Zenon Petroleum and Gas limited. Zenon is the dominant force in diesel business among oil marketing concerns. It supplies this all important fuel used to power the generating sets of most Nigerian industries to nearly all the major manufacturing firms in the country. These include Dangote Group, Cadbury, Coca Cola, Nigerian Breweries, MTN, Unilever, Nestle, Guinness among others.
Femi Otedola
Apart from being the biggest diesel and kerosene marketer in Nigeria today, he is said to be the biggest ship owner in the country. He is also the owner of Atlas Shipping Agency, Swift Insurance, FO Properties Limited, FO Transport and Seaforce Shipping Company Ltd.

Orji Uzor Kalu
Orji Uzor Kalu is the chairman of Slok Group. He was the governor of Abia State, Nigeria from May 29, 1999 to 29 May 29, 2007. Prior to his election as governor he was Chairman of the Borno Water Board and of the Cooperative and Commerce Bank Limited.

Cosmas Maduka
Dr. Cosmas Maduka is an industrialist and philanthropist of great repute and has contributed immensely towards the growth and development of the nation. Serves as the President and Chairman of Coscharis Group and sole distributor for BMW in Nigeria   . Dr. Maduka is an icon of sports with contributions spanning into millions of Naira. Dr. Maduka served as Director of Access Bank Plc (formerly, Access Bank Nigeria) since 2001 until January 27, 2013. He also serves as President of the Nigerian Table Tennis Federation and is the Vice President of the Nigeria-Japan Association. He is also a Trustee of Human Development fund of The United Nations Development Program

Jimoh Ibrahim is a lawyer, politician, businessman, entrepreneur, industrialist and philanthropist in Nigeria. He is the current Group Chairman and Group Chief Executive Officer of Global Fleet Group, a diversified conglomerate, based in Nigeria, with business interests and subsidiary in neighboring West African countries.
Jimoh Ibrahim
His investments include the following sectors, among others; oil & gas distribution, hotels, resorts, airlines, banking, real estate, insurance, publishing and investments.

Mr. Jim Ovia, MFR is the Co-Founder of Zenith Bank plc and served as its Group Managing Director and Chief Executive Officer from 1990 to July 10, 2010. Mr. Ovia is Promoter and Founder of Visafone Communications Limited. He is the Proprietor of the University of Information and Communication Technology, Agbor, Delta State. He serves as the Pioneer President of Nigeria Internet group (NIG). He has over 23 years of Bank experience.

Pascal Dozie is a Co-Founder and Partner at African Capital Alliance. He is the Founder of Kunoch Limited. He combines experience as a development economist and econometrician with project management in Africa and Europe. He has experience in project finance and the Nigerian Capital Markets. He was the Founder of Diamond Bank PLC and served as the Chief Executive Officer of the bank until December 31, 2006. He served as the President at the Nigeria Stock Exchange. He served as the President of OON. He serves as a Member of Advisory Board at Kaizen Venture Partners. Mr. Dozie serves as the Chairman of MTN Nigeria Communications Ltd. and the Co- Chairman of the Commonwealth Business Council board. He serves as the Chairman of Kunoch Limited; ADIC Insurance Limited; Aluminium Extrusion Industries Plc.He served as the Chairman of Nigerian Economic Summit Group and served on the Lagos Business School Advisory Board. He serves as a Non Executive Director of Gulf of Guinea Energy Limited. He serves as a Council Member of The Nigerian Stock Exchange. Mr. Dozie served as a Director of the Central Bank of Nigeria. He was Economic Adviser for Niger State Government.

Dr. Oba Otudeko, CFR is an astute and highly successful Nigerian investor and entrepreneur whose domestic and foreign interests cut across diverse sectors of the economy. Professionally, he is a Chartered Banker, Chartered Corporate Secretary and a Chartered Accountant.
Dr. Oba Otudeko is currently Chairman Honeywell Group, Airtel Nigeria and Fan Milk of Nigeria Plc. Dr. Otudeko retired as the Chairman of First Bank of Nigeria Plc after 12 meritorious years on the Board of the Bank. He also served on several Boards including the Boards of Central Bank of Nigeria, Guinness Nigeria Plc and Ecobank Transnational Incorporated (ETI). Between September 2006 and August 2009, he was the 16th President and Chairman of Council of the Nigerian Stock Exchange.

Alhaji Sayyu Dantata is a mechanical engineer by training having attended the Morris Brown College, Atlanta, Georgia, USA. Prior to founding MRS in 1995, Alhaji Dantata was the Director of Dangote Transport (Dangote Group), Lagos, Nigeria. His venture into the Oil and Gas industry in 1993 resulted in the establishment of the MRS Group in 1995.
He is currently the chairman of MRS Group of Companies, Ovlas Trading SA, Ovlas Services Geneva and Corlay Global SA, leveraging on over 17 years of experience in the downstream petroleum industry in Nigeria.

Umaru Abdul Mutallab  is a prominent business leader and former minister of the Federal Republic of Nigeria. He is a chartered accountant and banker and former Executive Vice Chairman and Managing Director of United Bank for Africa (UBA) – the third largest bank in Nigeria and an affiliate of BNP Paribas. He just retired as Chairman of First Bank of Nigeria Plc, the oldest and biggest bank in Nigeria. He is a holder of one of the highest national awards in Nigeria – Commander of the Order of the Niger (CON).

Prince Samuel Adedoyin often referred to as the doyen of commerce and one of the richest men in Nigeria, Prince Samuel Adedoyin sits atop a conglomerate of indigenous groups of companies.
This Kwara State born industrial mogul and Chairman of Doyin Group belongs to the old generation of billionaires whose affluence and influence can still give today’s billionaires a run for their money.
Today, his business empire spans foods, beverages, transportation, automobile, farming, real estate and hospitality business. He is a philanthropist, diligent and dynamic businessman who combines these rare qualities that differentiate him from his peers.

Chief Dele Fajemirokun is an astute businessman and Chairman of over 50 organizations including American International Insurance Company (AIICO) Plc, Xerox HS, Food Concepts and Entertainment, Kings Guard Limited and Multishield Limited. He has a BSc in Economics from the University of Ife (now Obafemi Awolowo University) and an Honorary Doctor of Business Administration from the University of Los Angeles, USA

Dr.Cletus Madubugwu Ibeto is the Chairman and Chief Executive Officer of The Ibeto Group. He is an acknowledged industrialist who has advanced the cause of international goodwill and understanding through his extensive international business undertakings.
Dr. Ibeto served as President, Nnewi Chamber of Commerce, Industry, Mines and Agriculture from 1994 to 1998. In January 1997 the Anambra State Government accorded him State Honour in recognition of his contributions towards the development of the State.
In 2005 the Federal Government of Nigeria found him worthy to serve as Chairman of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).He is currently on the Board of many reputable institutions and organizations.

High Chief. Dr. Raymond Anthony Aleogho Dokpesi, PhD, FCIT, OFR, is a seasoned and an accomplished entrepreneur and investor who understands the dynamics of private broadcasting business management.  serves as the Chairman and Director of Daar Communications Plc. Dr. Dokpesi worked briefly with the Nigerian Ports Authority as a Marine Officer Cadet in 1969 before proceeding to Poland for further studies. He lectured in the University of Gdnask, Poland as Assistant Lecturer in Marine Transport Economics before returning to Nigeria.
Before venturing into private business, he worked with both the Nigerian Ports Authority and the Federal Ministry of Transport in different capacities. Dr. Dokpesi is a seasoned and an accomplished entrepreneur and investor who understands the dynamics of private broadcasting business management.
He is a fellow member of many professional organizations, and a recipient of many prestigious awards

Tony Ezenna is an epitome of hard work and doggedness.  An astute and well focused entrepreneur, he has nurtured the Orange Drugs to an enviable height.
This amiable executive chairman of Orange Drugs Limited has turned an erstwhile obscure pharmaceutical company into a respected outfit which has acquired an imposing range, comparable only to that of the very leaders in the industry.
Orange Drugs’ range of products include: Procold, Dankos Mixagrip and Delta Soap.  This range of products has continued to make appreciable impact as household names. 

Ample in size and ample in achievement is a mild way of describing Chief Molade Okoya-Thomas. Since December 1959 when he joined CFAO as an accountant, Molade Okoya-Thomas has been a kind of ambassador for French companies in Nigeria . Today, apart from being the chairman of the company, which is a major French conglomerate, Okoya-Thomas is equally the chairman of six French-related companies, including Transcap Nigeria Limited, Studio Press Nigeria Ltd. and Cica Nigeria Ltd.
He is also on the board of five others, namely, Nigerian Motors Industries, Nigeria-French Insurance Company; Commercial Bank (Credit Lynnoais); M’Billa Farm and Franco-Nigeria Insurance Limited. Okoya-Thomas has also played prominent roles in French-Nigeria associations.

Ifeanyi Ubah, Chief Executive Officer/Managing Director of Capital Oil and Gas Industries Limited, is an astute and accomplished businessman, and has been actively involved in top flight international business ranging from oil and gas, telecommunication, real estate and general merchandise for over two decades.
Ifeanyi Ubah, entered the downstream sub-sector of the petroleum industry with a purpose to take over the leadership of the industry.
Perhaps, the mentioning of Capital Oil today makes Major Oil Marketers to shiver as a result of proactive and strategic steps he took diligently in driving businesses previously thought are exclusively for the Majors with foreign control.

19. Leo Stan Ekeh – Zinox Computer
Leo Stan Ekeh  is the chairperson of Zinox Technologies Limited. In addition to Zinox, he has been involved with companies Task Systems, Technology Distributions Limited, ICT Brokers, TD Plus, ICT Connect and Buyright AFRICA Dotcom.
Mr. Ekeh through his company Task Systems Limited pioneered Desktop Publishing and Computer Graphics in Nigeria.
Mr. Ekeh also pioneered IT Distribution in West Africa through Technology Distributions Limited, TD, which has emerged the Number 1 ICT distribution company in West Africa.
Leo Stan Ekeh has a record of incisive entrepreneurship and his vision to Computerize Nigeria has rewritten the history of Information Technology in the Third World

Fola Adeola is the Chairman of the Board of Directors of CardinalStone. He is a member of several other boards, including those of Eterna Oil, UTC, and MainOne Cable Company.
Mr. Adeola served as the Chairman of the Pension Reform Committee, which designed and anchored Nigeria's New Pension Reform Bill in 2004. He subsequently served as the Chairman of the National Pension Commission, the regulator in the Pension Industry from 2004 to 2006. He was also the Group Managing Director and Chief Executive Officer of the Transnational Corporation of Nigeria Plc from 2005 to 2006.
Mr. Adeola is the founder of Guaranty Trust Bank Plc where he served the bank as the pioneer Managing Director and Chief Executive Officer for 12 years. Before founding the bank in 1990, Mr. Adeola served as the Deputy General Manager & Divisional Head, Financial Services Division of Continental Merchant Bank Limited from1986 to1990. He also served as a manager at NAL Merchant Bank Plc from 1982 to1986. Prior to this experience, he served as a senior auditor at D.O. Dafinone & Co.
Mr. Adeola is the founder and chairman of FATE Foundation, a charitable foundation that promotes entrepreneurship among the youth in Nigeria.


  1. W A OOOOH!!! These men have really worked so hard to be where they are today. It wasn't an easy road at all. Their hard-work, diligent, resilient and focus have inspired us abroad. This shows that you can become what GOD wants you to be irrespective of where you dwell. I really thank GOD for their lives and i will appreciate all of them to be philanthropists. I believe that GOD gives us power to earn wealth so when we are blessed by ALMIGHTY GOD, it is our duty to be a blessing to many others and not just only to our family members and close friends. In doing this kind of act we are pleasing our dear Heavenly Father who in turn will continue to strengthening and blessing you more and more. Shalom & love. Tess

  2. What abt chief alex duduyemi...wanna knw is position

  3. It is a good thing to emulate hard working men.. am so proud of them.. toni tune USA

  4. why is a doctor not among this people,at least a lawyer is there