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Top 100 Richest Men In Nigeria 2023 (Forbes List)

Thanks to Forbes and other websites that publish updates about the richest men In Nigeria, we have enough information about the top 100 richest men in Nigeria in 2023 and what they do. Without wasting time, here are their names, their profiles, and what you must do to join them.


Top 20 Richest Men In Nigeria and their Business

  1. Aliko Dangote – $10.8 billion (Dangote Group)
  2. Abdulsamad Rabiu – $7.9 billion (BUA Group)
  3. Alafaa Kariboye – Igbo $6.1 billion
  4. Arthur Eze – $5.8 billion
  5. Mike Adenuga – $5.7 billions (Globacom, Conoil
  6. Cletus Ibeto – $3.8 billion
  7. Orji Uzor Kalu – $3.2 billion (Slok Holding, Daily Sun)
  8. Emeka Offor – $2.9 billion
  9. Benedict Peters – $2.7 billion
  10. Andy Uba $2.1 billion
  11. Femi Otedola – $1.8 billion (Forte Oil)
  12. ABC Orjiako $1.2 billion
  13. Leo Stan Ekeh $1.2 billion
  14. Danjuma Theophilus $1.1 billion
  15. Jimoh Ibrahim $1.1 billion
  16. Pascal Gabriel Dozie $1 billion
  17. Folorunsho Alakija $1 billion
  18. Igho Sanomi $1 billion
  19. Jim Ovia – $980 billion (Zenith Bank)
  20. Tony Elumelu – $700 billion (Heirs Holdings, UBA)
  21. Herbert Wigwe – Access Bank
  22. Folorunso Alakija – Famfa Oil
  23. Pascal Dozie – MTN Nigeria, Diamond Bank
  24. Oba Otudeko –
  25. Cosmas Maduka –
  26. Alhaji Sayyu Dantata –
  27. Mohammed Indimi –
  28. Jimoh Ibrahim –
  29. Leo Stan Ekeh –
  30. Igho Sanomi –

Please keep in mind that this list may not be current or comprehensive, as the rankings and wealth of individuals can change over time.

Top 100 Richest Men In Nigeria 2023

Nigeria is a country that is home to many wealthy individuals. Interestingly, the richest man in Africa is a Nigerian while the second richest African woman is also a Nigerian.

1. Aliko Dangote – $10.8B

Aliko Dangote is the wealthiest man in Nigeria and Africa at the moment. He is also the 167th richest person in the world today. Aliko Dangote is currently worth over $10.8B billion.

Dangote has investments in Nigeria as well as countries like Benin, Ethiopia, Senegal, Cameroon, Ghana, South Africa, Togo, Tanzania, and Zambia.

Profile Summary

Full NameAliko Dangote
State of originKano state
Place of birthKano
Ethnicity Hausa 
ResidenceLagos, Nigeria
Date of birth10 April 1957
Source of wealthCement, sugar, flour, and others
Marital StatusDivorced
SpouseZainab Dangote
EducationBachelor of Arts/Science, Al-Azhar University

Key Highlights:

  1. Dangote Group: Aliko Dangote is the founder and chairman of the Dangote Group, a multinational conglomerate with interests in various sectors, including cement, sugar, salt, flour, and more. The Dangote Group is one of the largest and most diversified business conglomerates in Africa.
  2. Cement Industry: Dangote Group is particularly known for its dominance in the cement industry. Dangote Cement is the largest cement producer in Africa and is present in several countries across the continent.
  3. Philanthropy: Aliko Dangote is also involved in philanthropic activities. He has contributed to various charitable causes, including education, health, and poverty alleviation, through the Aliko Dangote Foundation.
  4. Business Ventures: In addition to the cement industry, Dangote Group has investments in sectors such as agriculture, real estate, oil, and gas. Aliko Dangote has shown a strong interest in contributing to economic development and industrialization in Nigeria and Africa.

2. Abdulsamad Rabiu – $5.7 billion

Abdulsamad Rabiu is the second-richest man in Nigeria, with a net worth of $5.7 billion. He is the founder of BUA Group, a company involved in cement production, sugar refining, and real estate. In 1988, he started a business that imported iron, steel, and chemicals. He also inherited land from his father, a late successful businessman.

Profile summary

Full NameAbdul Samad Rabiu
State of originKano state
Place of birthKano
Ethnicity Hausa 
ResidenceLagos, Nigeria
Date of birth4 August 1960
Source of wealthCement, sugar, flour, and others
Marital StatusMarried
SpouseMrs Abdul Rabiu
EducationHe attended Capital University in Columbus, Ohio and returned to Nigeria at the age of 24 to oversee the family business

3. Alafaa Kariboye-Igbo

Alafaa famously known as’ Oil Money’ was born in River State, in the oil-rich region of Nigeria on May 21st, 1981. From a very lowly beginning, he has been able to grow into a result-driven businessman with a distinct mindset to realize his dreams.

4. Arthur Eze

Arthur Eze is one of the wealthiest men in Africa. He is the founder and Chairman of Atlas Oranto Petroleum a reputable company with assets in Nigeria, Liberia, Guinea, and the Gambia. The company was founded in 1991. Arthur studied chemical and mechanical Engineering at California State University.

Arthur Eze is the CEO of Atlas Oranto Petroleum, one of the largest privately-held oil exploration and production companies in Nigeria. In 1992, he founded Triax Airlines following the deregulation of airlines in Nigeria. 

5. Mike Adenuga – $5.7 billions

Mike Adenuga is the second-richest man in Nigeria and has been consistently ranked among the wealthiest people in Africa. He is a business tycoon with interests in telecommunications, oil, and other industries.

According to the recently released Forbes list in 2023, Mike Adenuga’s net worth is estimated at $5.7 billion and he is the second richest man in Nigeria and Africa.

Profile Summary

Full NameMike Adenuga
State of originOyo State
Place of birthIbadan, Oyo State
Ethnicity Yoruba 
ResidenceLagos, Nigeria
Date of birth29 April 1953
Source of wealthTelecom, oil, Self Made
Marital StatusMarried
SpouseAdefolake Emilia Adenuga
Titi Joyce Adenuga
EducationMaster of Business Administration, Pace University

Business Ventures:

  1. Globacom (Glo): Mike Adenuga is the founder and owner of Globacom, a Nigerian multinational telecommunications company. Glo has become a major player in the Nigerian telecom industry and has also expanded to other African countries.
  2. Conoil: Adenuga is the owner of Conoil Producing, one of Nigeria’s leading oil exploration and production companies.

Achievements and Recognition:

  • Mike Adenuga is known for his entrepreneurial spirit and his contributions to the Nigerian economy.
  • He has received numerous awards and recognition for his achievements in business and philanthropy.
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3. Cletus Ibeto – $3.2 Billion

Cletus Madubugwu Ibeto, a businessman from the industrial city of Nnewi in Nigeria, was born on November 6, 1952. He is the leader of The Ibeto Group, the biggest company from Nnewi, a place notable for its spirit of entrepreneurship. Nnewi experienced an expansion in the early 1980s, during a time when the oil crash and a contentious import licensing regime were hurting Nigeria’s manufacturing sector. Under Ibeto’s leadership, the Ibeto Group established the standard for trade and later manufacturing growth in the region and country.

Folorunso Alakija made headlines a few years ago when she unseated Oprah Winfrey to become the richest black woman in the world.

From a fashion designer to an oil tycoon, Folorunso Alakija is currently worth $2.1 billion, making her the richest African woman. Her business interests are in fashion, oil, and printing.

11. Femi Otedola

Femi Otedola is the son of the former Lagos State Governor, Michael Otedola. He is the chairman of Forte Oil Plc, a major importer of fuel products. He is also the founder of Zenon Petroleum and Gas Ltd.

His investment isn’t just limited to oil but ranges across other sectors such as shipping, real estate, and finance. According to the latest release by Forbes, Femi Otedola has a net worth of $2.3 billion which puts him in the third position in terms of wealth in Nigeria.

6. Theophilus Danjuma

Theophilus Danjuma is a retired general, billionaire, and philanthropist. His business interest is primarily in oil and he is the chairman of South Atlantic Petroleum (SAPETRO).

Danjuma had a very humble beginning. His father, Kuru Danjuma was a peasant farmer and metal trader.

7. Orji Uzor Kalu

Orji Uzor is the chairman of SLOK Holding and the former governor of Abia State. His other investments include the Daily Sun and the New Telegraph newspapers.

According to Forbes, he is worth $1.1 billion. Orji Uzor Kalu was a student activist during his time at the University of Maiduguri and was involved in the Ali Must Go riots. As a result of his participation, he was suspended by the school authorities but he never returned as he went on to build several successful businesses.

8. Tony Elumelu

With an estimated worth of $1.4 billion, Tony Elumelu is one of the richest men in Nigeria. He is an economist, entrepreneur, and philanthropist.

9. Oba Otudeko

Oba Otudeko has an estimated worth of $650 million. He is the founder of the Honeywell Group. He is also the chairman of FBN Holding Plc.

He was born Ayoola Otudeko and he trained as an accountant at the Leeds College of Commerce in the United Kingdom which is now Leeds Beckett University.

10. Jim Ovia

Jim Ovia is the man behind the success story of one of Nigeria’s top banks, Zenith Bank. He has an estimated net worth of $1 billion.

He is an alumnus of Harvard Business School and is well known to have introduced many innovations to the banking industry. He was responsible for leading Zenith Bank to become one of the largest and most profitable banks in the country. He’s currently the chairman of the bank.

11. Cletus Ibeto

Cletus is the head of the Ibeto Group. The group is one of the largest conglomerates in Africa with interests in automobile parts, cement production, energy, petrochemical, and the real estate industry. The popular Ibeto Hotels is one of his business interests.

12. Arthur Eze

13. Igho Sanomi

Born in Agbor, Delta State, Igho Sanomi is the father of Dickens Sanomi. It would be recalled that Dickens was the second National Vice President of the Urhobo Progress Union. He was also a retired Assistant Inspector General of Police (AIG) of the Nigerian Police Force.

14. Benedict Peters

Benedict Peters is the founder of Aiteo Group, a conglomerate with a primary interest in energy. Benedict began his career with Ocean and Oil now known as Oando Plc before moving to MRS Oil Nigeria Plc to become the Group Executive Director.

Eventually, Benedict founded Aiteo Group which is currently reputed to own one of the largest petroleum tank farms in the country.

15. Bode Akindele

Bode Akindele is an octogenarian billionaire. He is the chairman of the Mondola Group. This group is one of the largest conglomerates in Nigeria with interests in Agriculture, Food processing, Maritime, Real Estate, and the Transport industry.

16. ABC Orjiako

Bryant Orjiako popularly known as ABC Orjiako had an interesting career path prior to becoming a billionaire. He trained as a surgeon but after a while, he left the healthcare sector to pursue his business interests.

17. Mohammed Indimi

Mohammed Indimi is the founder of Oriental Energy, a company he founded in 1990. He is reportedly worth over $400 million.

18. Emmanuel Ojei

Emmanuel Ojei is the chairman of Nuel Ojei Holding Limited. His business interests include construction, banking, importation, sales, and service of motor vehicles and oil.

19. Hakeem Belo-Osagie

Trained as a lawyer, Hakeem Belo-Osagie is also a graduate of the prestigious Harvard Business School.

Belo-Osagie has been involved in the oil, finance, and telecommunications industry. He was the chairman of the United Bank of Africa between 1998 and 2004. He was also involved with the Federal Government particularly in the Energy sector when he initially returned to the country.

20. Tunde Folawiyo

With an estimated worth of over $400 million according to Forbes, Tunde Folawiyo is one of the richest men in the country.

He is the chairman of the Yinka Folawiyo Group, a large conglomerate with an interest in energy, agriculture, shipping, and real estate. He took over the company from his father, Wahab Folawiyo when he passed away in 2008. Tunde is also the director of MTN Nigeria Ltd.


Here is the list of the Top 100 Richest Men In Nigeria as of 2023. Please feel free to share this article with someone who needs it. Thank you.

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