Nigeria, Africa’s most populous country and one of its largest economies, is a land of immense opportunity, innovation, and entrepreneurial spirit. Over the decades, a number of Nigerians have risen to remarkable financial heights through strategic investments, visionary leadership, and relentless determination. These billionaires and multi-millionaires are not only shaping Nigeria’s economic future but also playing key roles across Africa and beyond.
If you’ve ever asked: Who are the richest people in Nigeria in 2025? How much are they worth? What industries built their fortunes? How do they influence society? And what challenges do they face in today’s evolving business climate? — You’re in the right place.
This article explores the top 10 richest people in Nigeria in 2025 and their net worth, answering all these questions and more.
Who Are the Top 10 Richest People in Nigeria in 2025?
These influential Nigerian billionaires and entrepreneurs dominate industries like oil, telecommunications, manufacturing, agriculture, and banking. Their financial journeys offer insights into how wealth is created and sustained in Africa’s largest economy.
Let’s dive into the lives, legacies, and numbers behind Nigeria’s wealthiest individuals in 2025.
Profiles of the Top 10 Richest People in Nigeria in 2025
1. Aliko Dangote – Net Worth: $17.5 Billion
Who is Aliko Dangote?
Still holding the title of Africa’s richest man in 2025, Aliko Dangote is the founder and chairman of the Dangote Group — a conglomerate with interests in cement, sugar, salt, oil refining, and more.
How did he make his money?
Dangote made his initial fortune in commodities like sugar and flour, then skyrocketed his wealth through Dangote Cement and more recently, the $20 billion Dangote Refinery in Lagos — one of the largest in the world.
Financial Journey
From importing small consumer goods in the late 1970s to building a multinational industrial empire, Dangote’s rise reflects strategic scaling and massive industrial investment.
Fun Fact
Despite being one of the richest on the planet, Dangote has said he still personally drives himself to work occasionally.
2. Abdul Samad Rabiu – Net Worth: $9.8 Billion
Who is Abdul Samad Rabiu?
Rabiu is the founder of BUA Group, a diversified conglomerate in cement, food, and infrastructure.
How did he make his money?
Rabiu's company operates some of Nigeria’s largest cement plants and sugar refineries. His strategic investments in infrastructure and manufacturing have paid off handsomely.
Financial Journey
Rabiu inherited his father’s business but aggressively expanded into industrial-scale operations, earning a top spot on Africa’s wealth leaderboard.
Fun Fact
He is a major philanthropist, funding health, education, and infrastructure projects across Nigeria.
3. Mike Adenuga – Net Worth: $6.7 Billion
Who is Mike Adenuga?
Adenuga is the founder of Globacom (Nigeria’s second-largest telecom operator) and a major investor in oil exploration through Conoil.
How did he make his money?
His wealth comes primarily from telecoms and oil. Globacom revolutionized mobile communications in Nigeria with competitive pricing.
Financial Journey
Adenuga started out selling lace and distributing soft drinks before moving into oil and telecom — two of Nigeria’s most lucrative sectors.
Fun Fact
Adenuga is famously private and rarely gives interviews or appears at public events.
4. Femi Otedola – Net Worth: $2.5 Billion
Who is Femi Otedola?
Otedola is a Nigerian businessman with investments in power, finance, and formerly oil. He is the chairman of Geregu Power Plc.
How did he make his money?
He initially built wealth through Zenon Petroleum and later diversified into energy infrastructure and banking, including shares in First Bank.
Financial Journey
Otedola sold his majority stake in Forte Oil and pivoted to power generation, capitalizing on Nigeria’s energy deficit.
Fun Fact
He once gifted his daughters Ferraris and is a well-known supporter of luxury and philanthropy alike.
5. Tony Elumelu – Net Worth: $1.2 Billion
Who is Tony Elumelu?
Elumelu is a renowned banker, investor, and philanthropist, known for founding Heirs Holdings and the Tony Elumelu Foundation.
How did he make his money?
Elumelu made his mark through the turnaround of United Bank for Africa (UBA), which now operates in over 20 African countries.
Financial Journey
He started his career in banking, acquiring and transforming failing institutions into profitable ventures and growing a pan-African business empire.
Fun Fact
His foundation has committed $100 million to support African entrepreneurs.
6. Folorunsho Alakija – Net Worth: $1.1 Billion
Who is Folorunsho Alakija?
Alakija is Nigeria’s richest woman, with business interests in oil (Famfa Oil), fashion, and printing.
How did she make her money?
She gained an oil exploration license in the early 1990s, which led to a partnership with Chevron in one of Nigeria’s most lucrative offshore fields.
Financial Journey
Alakija started in fashion before venturing into oil. Her fortune soared with the success of Agbami oil field.
Fun Fact
She is deeply religious and credits her success to faith and divine inspiration.
7. Theophilus Danjuma – Net Worth: $900 Million
Who is Theophilus Danjuma?
A retired general turned billionaire, Danjuma is known for his investments in oil and shipping.
How did he make his money?
He founded South Atlantic Petroleum (SAPETRO), which holds lucrative offshore oil blocks.
Financial Journey
After retiring from the military, Danjuma invested in oil and used his influence and foresight to build a strong portfolio.
Fun Fact
He owns one of the most expensive yachts in Africa.
8. Jim Ovia – Net Worth: $870 Million
Who is Jim Ovia?
Ovia is the founder of Zenith Bank, one of Nigeria’s largest and most profitable financial institutions.
How did he make his money?
He built Zenith from scratch into a financial powerhouse and holds significant equity in the bank.
Financial Journey
Ovia leveraged the liberalization of Nigeria’s banking sector to create a digital-first bank long before it was trendy.
Fun Fact
He’s an author and mentor, advocating for technology and entrepreneurship.
9. Orji Uzor Kalu – Net Worth: $750 Million
Who is Orji Uzor Kalu?
A former governor and businessman, Kalu is the chairman of SLOK Group, with interests in shipping, banking, and media.
How did he make his money?
He started by trading palm oil and later expanded into multiple sectors, especially shipping and logistics.
Financial Journey
Despite controversies, Kalu has remained a significant business figure and currently serves in Nigeria’s Senate.
Fun Fact
He owns The Sun and New Telegraph newspapers in Nigeria.
10. Oba Otudeko – Net Worth: $600 Million
Who is Oba Otudeko?
Otudeko is the founder and chairman of the Honeywell Group, with investments in food, real estate, and finance.
How did he make his money?
His company produces food staples like flour and noodles and owns assets in oil and hospitality.
Financial Journey
He rose from a banking career to building a conglomerate that serves millions of Nigerians daily.
Fun Fact
He’s also known for promoting corporate governance and education in Nigeria.
How Do the Richest People in Nigeria Make Their Money?
Oil & Gas
Telecommunications
Banking & Finance
Manufacturing & Cement
Real Estate & Infrastructure
Power & Energy
These sectors continue to offer high returns for strategic investors despite economic volatility.
Challenges Faced by Nigeria’s Richest in 2025
Currency devaluation and inflation
Regulatory changes
Insecurity in some regions
Global economic shifts affecting exports
Despite these hurdles, diversification and innovation keep them on top.
How Do Nigeria’s Richest Spend Their Wealth?
Luxury real estate and automobiles
Philanthropy in education and healthcare
Support for startups and SMEs
Global investments and foundations
Lessons from Nigeria’s Top 10 Richest People in 2025
Identify emerging sectors early
Reinvent when necessary
Think globally, act locally
Create value, not just wealth
Give back to uplift others
