Nigerian Billionaires Ever Listed by Forbes Till Date

Being listed on a Forbes list is not an impossible goal for anyone hoping to make it into the top 1% of the global population.

Forbes has been committed to highlighting wealthy people since 1917. 99% of people in the world would not have achieved the degree of achievement that you have if you were mentioned in this magazine.

Forbes mostly highlights billionaires or worldwide trendsetters who have achieved amazing achievements in their respective fields of expertise.

It is unlikely that Forbes will mention you if these requirements are not fulfilled.

Having said that, Forbes has highlighted several Nigerians for their extraordinary sacrifices, impact, and/or contributions to advancing their local communities and, occasionally, the entire globe.

But there haven’t been as many Nigerians highlighted on Forbes only because of the sheer amount of their net wealth.

While it’s debatable whether Forbes can precisely identify the wealthiest individuals in the nation due to inadequate data systems, it’s undeniable that Forbes favors individuals whose unquestionable wealth is highlighted.

Looking back, Forbes has identified some extremely affluent billionaires in this list.

The top six Nigerians profiled on Forbes during the last ten years are listed below.

Nigerian Billionaires Ever Listed by Forbes Till Date

Here are the six Nigerians on the list:

1. Aliko Dangote

Aliko Dangote
Aliko Dangote

The founder and CEO of the largest conglomerate in West Africa, the Dangote Group, is Aliko Dangote. He is Africa’s wealthiest individual.

Dangote Cement Plc, a subsidiary of the Group, is the first Nigerian firm to be listed on the Forbes Global 2000 Companies list and the largest listed corporation in West Africa.

Despite a $400 million decline in his wealth to $13.5 billion, Nigerian entrepreneur Aliko Dangote is Africa’s richest man for a record 12 years, according to Forbes’ list of African billionaires for 2023.

2. Abdul Samad Rabiu

Abdul Samad Rabiu
Abdul Samad Rabiu

The Nigerian conglomerate BUA Group, which is involved in cement production, sugar refining, and real estate, was founded by Abdulsamad Rabiu.

Rabiu owns 98.2% of the combined company, BUA Cement Plc, which is traded on the Nigerian stock exchange.

In 1988, he started his own company, importing chemicals, steel, and iron.

With this, the philanthropist and billionaire businessman’s ranking among Forbes’ list of billionaires surged again, nearly surpassing that of Nicky Oppenheimer, the third richest man in Africa, valued at $8.4 billion.

According to Forbes, Mr. Rabiu’s net worth increased from $1.6 billion in 2019 to $6.9 billion in 2022 to $8.2 billion in April 2023.

The BUA chairman is primarily interested in real estate, cement, and sugar. He is now constructing the second-largest refinery and petrochemical facility in sub-Saharan Africa in Akwa Ibom, Nigeria.

According to Forbes, Mr. Dangote held the title of richest person of African heritage globally.

According to Forbes, his wealth is predicted to have reached $14.2 billion in 2022.

3. Mike Adenuga

Mike Adenuga
Mike Adenuga

Chief Michael Adeniyi Agbolade Ishola Adenuga Jr., a billionaire businessman from Nigeria, is the third richest person in Africa.

His business, Globacom, is the second-biggest telecom provider in Nigeria, with operations in Ghana and Benin.

He invests in the oil exploration company Conoil (previously Consolidated Oil Company) and the Equitorial Trust Bank.

He fell from $7.3 billion to $6.1 billion in 2022. He has moved up and down the wealthiest scale during the past few years. As of 2023, Forbes valued his net worth at $3.3 billion.

4. Femi Otedola

Femi Otedola
Femi Otedola

Although Femi hasn’t been featured in a Forbes article in a while, the magazine estimated his net worth to be 1.8 billion in 2016.

Being the major shareholder of publicly traded Forte Oil, an oil marketing and power generation company, has contributed to his riches.

According to Forbes, Femi Otedola’s net worth is estimated at $1.7 billion.

5. Folorunsho Alakija

Folorunsho Alakija
Folorunsho Alakija

She is vice chair of Famfa Oil, a Nigerian oil exploration business that owns a portion of the lucrative Agbami Oilfield.

When Forbes published her profile in 2020, her estimated net worth was $1 billion.

6. Tony Elumelu

Tony Elumelu
Tony Elumelu

Tony Elumelu is an internationally renowned businessman valued at $700 million in 2015.

He is a businessman and philanthropist who holds a majority stake in Transcorp, a Nigerian conglomerate that is listed on a stock exchange and has operations in the hospitality, agricultural, oil, and power sectors.

According to Forbes, Tony Elumelu’s net worth is estimated at $ 700 million.

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