Have you ever wondered who the richest men in Borno State are? What industries made them so wealthy? If you are curious about the billionaires and multimillionaires from this northeastern Nigerian state, you are in the right place.
Borno State, known for its historic city of Maiduguri and vast agricultural resources, has produced several wealthy businessmen, politicians, and industrialists. These individuals have built their fortunes through investments in agriculture, oil and gas, real estate, politics, and other lucrative industries.
In this article, we will explore the top 10 richest men in Borno State in 2025 and their net worth. We will break down their sources of income, business empires, and their contributions to the state’s development.
1. Kashim Shettima – Politician and Business Mogul ($950 Million)
Kashim Shettima, the current Vice President of Nigeria and former Governor of Borno State, is the richest man from the state with an estimated net worth of $950 million. His wealth comes from his successful political career and diversified investments.
Business Empire and Wealth Sources
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Politics: Years of service as governor and senator opened doors to multiple opportunities.
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Real Estate: Investments in commercial and residential properties across Abuja, Lagos, and Maiduguri.
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Agriculture: Large-scale agricultural projects supporting the state’s economy.
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Banking: Stake in major financial institutions before entering politics.
Shettima is admired for his influence in national politics and his contributions to the economic development of Borno State.
2. Mohammed Indimi – Oil Magnate ($900 Million)
Mohammed Indimi is one of Nigeria’s most respected billionaires and ranks second on this list with a net worth of $900 million. He is the founder of Oriental Energy Resources, an oil exploration and production company.
Business Empire and Wealth Sources
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Oil and Gas: Oriental Energy Resources operates multiple oil blocks in Nigeria.
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Real Estate: Significant property investments in major Nigerian cities and abroad.
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Philanthropy: Indimi supports education and poverty alleviation programs across the country.
Indimi’s vast oil empire has made him one of the wealthiest men not just in Borno State but in all of Nigeria.
3. Ali Modu Sheriff – Politician and Investor ($780 Million)
Ali Modu Sheriff, a former Governor of Borno State and former National Chairman of the Peoples Democratic Party (PDP), has an estimated net worth of $780 million.
Business Empire and Wealth Sources
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Politics: His long career in politics has earned him both wealth and influence.
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Oil and Gas: Major shares in oil servicing companies.
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Aviation: Investments in the aviation industry.
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Real Estate: Large property portfolios in Nigeria and overseas.
Sheriff remains a powerful figure in the business and political landscapes of Nigeria.
4. Baba Gana Kingibe – Diplomat and Businessman ($650 Million)
Baba Gana Kingibe is a veteran Nigerian diplomat and politician from Borno State. His net worth is estimated at $650 million.
Business Empire and Wealth Sources
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Diplomacy and Politics: Extensive career in government and international relations.
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Real Estate: Property investments in Abuja and Lagos.
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Agriculture and Logistics: Companies that provide logistics and farming services.
Kingibe is widely respected for his service to Nigeria and his investment in multiple business sectors.
5. Mohammed Wakil – Lawyer, Politician and Entrepreneur ($500 Million)
Mohammed Wakil, a former Minister of State for Power, is another wealthy Borno State indigene with an estimated net worth of $500 million.
Business Empire and Wealth Sources
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Law: Senior Advocate of Nigeria with decades of experience.
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Politics: Multiple government appointments have boosted his wealth.
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Power Sector: Stakeholder in electricity distribution and energy companies.
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Real Estate: Properties in Abuja, Lagos, and Maiduguri.
Wakil is an influential figure in the energy and political sectors of Nigeria.
6. Zanna Bukar Mustapha – Lawyer and Humanitarian ($420 Million)
Zanna Bukar Mustapha is a lawyer and humanitarian famous for negotiating the release of Chibok schoolgirls. His net worth is estimated at $420 million.
Business Empire and Wealth Sources
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Law Practice: Leading legal firm serving high-profile clients.
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Real Estate: Investment in commercial buildings and residential estates.
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Education and Humanitarian Work: Founder of educational initiatives in Borno.
Mustapha’s influence and investments continue to grow, making him one of the richest men in the state.
7. Tijjani Umar – Oil and Real Estate Tycoon ($380 Million)
Tijjani Umar is a businessman with diversified interests in oil and real estate. He is worth $380 million.
Business Empire and Wealth Sources
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Oil and Gas: Ownership of oil servicing and distribution companies.
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Real Estate: Residential and commercial property investments in Abuja and Maiduguri.
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Agriculture: Farms that produce cash crops and livestock.
Umar’s businesses employ hundreds of people across Borno State and Nigeria.
8. Bashir Sheriff Machina – Politician and Businessman ($350 Million)
Bashir Sheriff Machina is a seasoned politician and entrepreneur with a net worth of $350 million.
Business Empire and Wealth Sources
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Politics: Long-standing involvement in Nigerian politics.
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Real Estate: Hotels, luxury apartments, and commercial properties.
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Agriculture: Large farms and agro-processing businesses.
Machina remains a key player in Borno’s political and economic environment.
9. Baba Ahmed Jidda – Former Secretary to the Government of Borno ($320 Million)
Baba Ahmed Jidda is a former Secretary to the Government of Borno State with an estimated net worth of $320 million.
Business Empire and Wealth Sources
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Government Service: Multiple political appointments and advisory roles.
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Real Estate: Properties in Maiduguri, Abuja, and Dubai.
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Energy Sector: Investments in electricity generation and distribution.
Jidda’s businesses support employment and economic development in Borno State.
10. Abba Kyari (Jnr) – Entrepreneur and Investor ($300 Million)
Abba Kyari (Jnr), a successful entrepreneur and investor from Borno State, rounds out the list with a net worth of $300 million.
Business Empire and Wealth Sources
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Banking: Shares in leading Nigerian banks.
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Real Estate: Commercial and residential developments.
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Logistics and Transportation: Companies operating across Nigeria.
Kyari is a rising star in the world of business and finance in Borno State.
Summary Table: Top 10 Richest Men in Borno State 2025
| Name | Industry/Business Empire | Net Worth (2025) |
|---|---|---|
| Kashim Shettima | Politics, real estate, agriculture, banking | $950 Million |
| Mohammed Indimi | Oil and gas, real estate | $900 Million |
| Ali Modu Sheriff | Politics, oil and gas, aviation, real estate | $780 Million |
| Baba Gana Kingibe | Diplomacy, real estate, agriculture, logistics | $650 Million |
| Mohammed Wakil | Law, politics, energy, real estate | $500 Million |
| Zanna Bukar Mustapha | Law, real estate, education, humanitarian work | $420 Million |
| Tijjani Umar | Oil and gas, real estate, agriculture | $380 Million |
| Bashir Sheriff Machina | Politics, real estate, agriculture | $350 Million |
| Baba Ahmed Jidda | Government service, real estate, energy | $320 Million |
| Abba Kyari (Jnr) | Banking, real estate, logistics | $300 Million |
Why Are These Men So Successful in Borno State?
The richest men in Borno State have thrived by diversifying their investments across multiple sectors. Politics, oil and gas, real estate, agriculture, and law are the industries that generate the highest revenues. Many of these men leveraged their political connections and business acumen to create opportunities, build large business empires, and impact society positively.
Frequently Asked Questions (FAQs)
1. Who is the richest man in Borno State?
Kashim Shettima, with a net worth of $950 million, is the richest man in Borno State in 2025.
2. What industry makes the most billionaires in Borno State?
Oil and gas, real estate, and politics are the industries that create the most billionaires in Borno State.
3. Is Mohammed Indimi the owner of Oriental Energy Resources?
Yes, Mohammed Indimi is the founder and chairman of Oriental Energy Resources, a leading oil exploration and production company.
4. Do these billionaires contribute to Borno’s development?
Yes, many of them invest in local infrastructure, education, healthcare, and employment creation.
5. Are there new rising billionaires in Borno State?
Yes, entrepreneurs like Abba Kyari (Jnr) and Tijjani Umar are quickly rising through investments in oil, real estate, and logistics.
6. How does politics influence wealth in Borno State?
Politics provides access to contracts, connections, and opportunities, which many of these individuals have leveraged to grow their businesses.
7. Is Borno State rich in natural resources?
Yes, the state is rich in agricultural land and solid minerals, creating opportunities for investment.
8. Do these men engage in philanthropy?
Most of them are involved in charitable work, funding education, poverty alleviation, and humanitarian initiatives.
9. What is the economic impact of these billionaires?
They drive the economy by creating jobs, investing in businesses, and developing infrastructure in Borno State.
10. Can young entrepreneurs learn from them?
Absolutely. Their stories show the importance of diversification, resilience, and strategic investments.
Conclusion
The top 10 richest men in Borno State 2025 have achieved financial success through diversified investments and strong business strategies. Their wealth spans industries such as oil and gas, real estate, agriculture, and politics.
These men play a vital role in the economic development of Borno State by providing jobs, funding social projects, and building infrastructure. Their success stories can inspire young entrepreneurs to focus on strategic investments and hard work.