Nigeria’s wealthiest women are rich and reshaping the country’s economic landscape. The richest weomen are oil baronesses controlling billion-dollar deepwater fields to a pharmaceutical pioneer who started with N40,000, these women prove that success comes in many forms. Their combined fortunes span oil and gas, manufacturing, real estate, and media, collectively wielding billions of dollars in Africa’s largest economy.
Key Takeaways
Folorunsho Alakija remains Nigeria’s richest woman with an estimated net worth between $1 billion and $1.5 billion, built primarily through her 60% stake in the Agbami deepwater oil field. Bola Shagaya follows with a fortune estimated at $600-950 million from her diversified Bolmus Group conglomerate. Meanwhile, Stella Okoli transformed a modest N40,000 investment in 1984 into Emzor Pharmaceuticals, now valued at $600-850 million and commanding 25% of Nigeria’s analgesic market.
The Complete List of Nigeria’s Wealthiest Women
The rankings below reflect estimates based on publicly available information, business holdings, and recent developments. Net worth figures can fluctuate due to market conditions, new investments, and economic changes.
| Name | Estimated Net Worth |
|---|---|
| Folorunsho Alakija | $1-1.5 billion |
| Bola Shagaya | $600-950 million |
| Daisy Danjuma | $900 million |
| Stella Okoli | $600-850 million |
| Fifi Ekanem Ejindu | $600 million |
| Stella Oduah | $600-700 million |
| Bimbo Alase-Arawole | $40-750 million (estimates vary) |
| Diezani Alison-Madueke | $500 million (contested) |
| Mo Abudu | $15-25 million |
| Ngozi Okonjo-Iweala | $5-10 million |
1. Folorunsho Alakija — $1-1.5 Billion
Full name: Folorunsho Alakija
Date of birth: 15 July 1951
Age: 75 years (as of 2026)
Place of birth: Ikorodu, Lagos, Nigeria
Profession: Businesswoman, philanthropist, former fashion designer
Folorunsho Alakija stands unchallenged as Nigeria’s wealthiest woman. Her fortune comes primarily from Famfa Oil, where she holds a 60% stake in OML 127, the Agbami deepwater field. This partnership with Chevron and Petrobras operates one of Africa’s most productive oil fields, with production expected to continue until 2045.
Alakija’s business empire extends beyond oil. Her Dayspring Property Development Company completed the N60 billion Famfa Tower in Lagos back in 2022. She started her career in 1974 as an executive secretary before moving into banking at the First National Bank of Chicago. She later launched Supreme Stitches, which evolved into The Rose of Sharon House of Fashion, establishing her as a fashion entrepreneur before her oil success.
In early 2025, she made headlines with a N70 billion donation for a medical and teaching hospital at Osun State University. She’s also founded WELI (Women in Energy and Leadership Initiative) to mentor African women in the energy sector. Her Rose of Sharon Foundation, established in 2008, continues her philanthropic work across Nigeria.
2. Bola Shagaya — $600-950 Million
Full name: Hajia Bola Muinat Shagaya
Date of birth: 10 October 1959
Age: 67 years (as of 2026)
Place of birth: Ilorin, Kwara State, Nigeria
Profession: Businesswoman, fashion enthusiast
Bola Shagaya’s business portfolio spans oil distribution, real estate, and banking through her Bolmus Group conglomerate. Her oil companies, Practoil and Voyage Oil & Gas, handle 30,000 barrels per day through NNPC allocations. She’s known for introducing the Konica photography brand to Nigeria and West Africa, building her early fortune through photographic materials.
The Kwara State native started her career in the audit department of the Central Bank of Nigeria before venturing into entrepreneurship in 1983. In October 2023, she received the traditional title of Sarauniya (Queen) of Ilorin Emirate. Her family’s philanthropic activities expanded significantly in 2024 when her son Sheriff Shagaya donated a burn intensive care unit to the University of Ilorin Teaching Hospital.
3. Daisy Danjuma — $900 Million
Full name: Daisy Ehanire Danjuma
Date of birth: 6 August 1952
Age: 74 years (as of 2026)
Place of birth: Benin City, Nigeria
Profession: Businesswoman, politician, philanthropist
Daisy Danjuma made history in December 2023 when she assumed the role of Executive Chairman at South Atlantic Petroleum Limited (SAPETRO), succeeding her husband, General Theophilus Danjuma. At 73, she now controls one of Nigeria’s most valuable deepwater portfolios, including OPL 246 and operations of the world’s largest FPSO vessel, the Egina.
Before her current role, Danjuma built an impressive career in law and politics. She served as a State Counsel with the Lagos State Ministry of Justice and worked as a pioneer legal counsel to the Legal Aid Council of Nigeria during her NYSC. From 2003 to 2007, she represented Edo South in the Senate. Her corporate roles have included chairperson positions at SAPETRO and May & Baker Nigeria Plc. SAPETRO maintains operations across Nigeria, Benin Republic, Central African Republic, and Madagascar.
4. Stella Okoli — $600-850 Million
Full name: Stella Chinyelu Okoli
Date of birth: 1944
Age: 82 years (as of 2026)
Place of birth: Kano, Nigeria
Profession: Pharmacist, entrepreneur, philanthropist
Dr. Stella Okoli’s story is one of Nigeria’s most inspiring entrepreneurial journeys. She transformed a N40,000 investment in 1984 into Emzor Pharmaceuticals, which now commands 25% of Nigeria’s analgesic market with revenues hitting N51.1 billion in 2024 (a 24% year-over-year growth).
After graduating as a pharmacist, Okoli worked at prestigious institutions including Middlesex Hospital and Boots the Chemists Ltd in London before returning to Nigeria. She founded Emzo Chemists Ltd in January 1977 as a small retail pharmacy in Somolu, Lagos. The business was formally incorporated as Emzor Pharmaceutical Industries Limited in 1984.
Her most ambitious project is a $23 million Active Pharmaceutical Ingredients facility in Shagamu, funded partly by the European Investment Bank. Once complete, it’ll become Africa’s first anti-malarial API manufacturing plant, producing 400 metric tonnes annually of artemether, lumefantrine, and related compounds. The company currently manufactures over 140 pharmaceutical products across 16 therapeutic categories.
Following her son’s tragic death in 2005, she established the Chike Okoli Foundation in 2006, adding philanthropy to her legacy.
5. Fifi Ekanem Ejindu — $600 Million
Full name: Offiong Ekanem Ejindu
Date of birth: 1962
Age: 64 years (as of 2026)
Place of birth: Ibadan, Nigeria
Profession: Architect, businesswoman, philanthropist
Fifi Ekanem Ejindu commands the Starcrest Group of Companies, which she founded in 1995. The conglomerate spans real estate development, architectural design, construction, oil and gas, project management, and investment ventures. As a Pratt Institute graduate, she became the first Black African woman to earn an architecture degree from the prestigious institution.
Her distinctive neo-traditional design aesthetic sets her developments apart in Nigeria’s competitive real estate market. Beyond business, she serves as CEO of Building Support Systems and launched the African Arts and Fashion Initiative in 2013 to celebrate and promote African creative talent worldwide.
6. Stella Oduah — $600-700 Million
Full name: Stella Oduah Ogiemwonyi
Date of birth: 5 January 1962
Age: 64 years (as of 2026)
Place of birth: Onitsha, Anambra State, Nigeria
Profession: Politician, businesswoman
Stella Oduah’s wealth story intersects significantly with political power. She founded Sea Petroleum & Gas Company Ltd in 1992 after working with the Nigerian National Petroleum Corporation (NNPC). Her political career peaked when President Goodluck Jonathan appointed her Aviation Minister in July 2011.
However, controversy has shadowed her success. The infamous N255 million bulletproof BMW scandal in 2013-2014 forced her removal from the ministerial position. She now faces dual EFCC prosecutions: a 25-count N5 billion money laundering case and a 5-count N2.4 billion fraud case, with trial scheduled for February 2026. Her estimated net worth includes UK properties valued at N5 billion.
7. Bimbo Alase-Arawole — $40-750 Million
Full name: Bimbo Alase-Arawole
Date of birth: 1970s
Age: 51-56 years (as of 2026)
Place of birth: Nigeria
Profession: Businesswoman
Bimbo Alase-Arawole went from a small gift shop to Nigeria’s premier luxury furniture company. After studying in the United Kingdom, she returned to Nigeria and ran a modest gift and beauty shop called Glamour in Apapa, Lagos.
In 1994, she founded Leatherworld, starting as a small furniture outlet in Ikoyi, Lagos. The brand has since expanded to showrooms in Abuja, Ikeja GRA, and a flagship location at The Concourse Place in Lekki. Her partnership with Italian furniture maker NIERI since 2005 brought European craftsmanship standards to Nigerian manufacturing, culminating in The Concourse Industry, a furniture assembly and manufacturing plant in the Calabar Free Trade Zone.
It’s worth noting that she has no connection to LEKOIL oil company (founded by Lekan Akinyanmi), despite some reports. Her net worth estimates vary widely due to the private nature of her business.
8. Diezani Alison-Madueke — $500 Million (Contested)
Full name: Diezani Alison-Madueke
Date of birth: 6 December 1960
Age: 67 years (as of 2026)
Place of birth: Port Harcourt, Rivers State, Nigeria
Profession: Politician
Diezani Alison-Madueke represents wealth’s most controversial face in Nigeria. She made history as Nigeria’s first female Minister of Petroleum Resources in April 2010 and became the first woman elected as OPEC President in November 2014. However, her legacy is now overshadowed by serious legal troubles.
Since January 26, 2026, she’s been standing trial at Southwark Crown Court in London on six bribery counts. The EFCC has traced N47.2 billion and $487.5 million in cash and properties to her, including a $37.5 million Banana Island mansion and jewellery worth N14.6 billion.
In January 2025, the US and Nigeria signed an agreement to repatriate $52.88 million in “Galactica assets,” marking the first international asset recovery linked to her case. She’s pleaded not guilty, claiming UK authorities have held her passport since 2015 and that alleged bribes were “reimbursed in Nigeria.”
9. Mo Abudu — $15-25 Million
Full name: Mosunmola “Mo” Abudu
Date of birth: 11 September 1964
Age: 62 years (as of 2026)
Place of birth: London, United Kingdom
Profession: Media mogul, philanthropist
Mo Abudu proves that influence doesn’t always correlate with billionaire status. While her realistic net worth sits at $15-25 million (not the inflated $650 million some sources cite), her impact on African media is undeniable. The EbonyLife Media founder appeared on TIME’s 100 Most Influential People list in April 2025, with a tribute written by Idris Elba.
She launched her media journey in 2006 with the talk show Moments with Mo. In 2013, she founded EbonyLife TV, which now broadcasts across more than 49 African countries, the UK, and the Caribbean. Her Netflix partnership, the first for an African production company, delivered Blood Sisters (11 million viewing hours globally) and Elesin Oba, which premiered at the Toronto International Film Festival.
EbonyLife Place London is set to open in late 2025, expanding her hospitality empire beyond Lagos. She’s also established a $50 million Afro Film Fund with the IFC to finance African filmmakers. For the fourth consecutive year, she’s been named to Forbes 100 Most Powerful Women.
10. Ngozi Okonjo-Iweala — $5-10 Million
Full name: Ngozi Okonjo-Iweala
Date of birth: 13 June 1954
Age: 72 years (as of 2026)
Place of birth: Ogwashi-Uku, Nigeria
Profession: Economist
Dr. Ngozi Okonjo-Iweala’s inclusion on “richest women” lists is somewhat misleading. Her personal wealth of $5-10 million (from World Bank service, government positions, and board roles) places her far below the oil magnates. However, her global influence is immeasurable.
She made history in March 2021 as the first woman and first African appointed Director-General of the World Trade Organisation (WTO). In November 2024, she was unanimously reappointed by 166 member states for a second term (2025-2029). Her four decades of experience span Asia, Africa, Europe, Latin America, and North America.
During her two non-consecutive terms as Nigeria’s Minister of Finance (2003-2006 and 2011-2015), she negotiated $30 billion in debt relief for Nigeria, including $18 billion in outright cancellation. She briefly served as Acting Minister of Foreign Affairs in 2006. Her 2025 priorities include navigating heightened US-China trade tensions under the returning Trump administration.
Wrap Up
Nigeria’s wealthiest women reveal the different paths to success in Africa’s largest economy. Oil and gas remains the dominant wealth generator, with Alakija, Shagaya, and Danjuma controlling assets worth billions. However, Stella Okoli’s pharmaceutical is different as it shows that industrial innovation can build fortunes.
The legal troubles facing Oduah and Diezani is just how political connections can become double-edged swords. Meanwhile, the inclusion of Okonjo-Iweala and Mo Abudu, whose influence vastly exceeds their personal fortunes, reminds us that “richest” often conflates wealth with power in Nigerian discourse.
