The Yoruba people, known for their rich cultural heritage and strong entrepreneurial spirit, have long been key players in Nigeria’s economic evolution. From oil magnates and telecom innovators to finance moguls and real estate giants, Yoruba businessmen have left an indelible mark across multiple industries.
In this article, we present the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings — revealing how these individuals rose to prominence, what sectors fuel their wealth, and what their empires look like today. Let’s dive into the world of wealth, power, and innovation in Yoruba enterprise.
1. Mike Adenuga — Telecom and Oil Billionaire ($6.3 Billion)
Mike Adenuga tops the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings, with a staggering fortune of $6.3 billion. Widely recognized as a telecom tycoon, he is the founder of Globacom, Nigeria’s second-largest mobile network, and owner of Conoil Producing, a leading indigenous oil exploration company.
How He Built His Wealth:
Adenuga strategically positioned himself during Nigeria’s telecom revolution. With deep investments in both upstream oil and broadband infrastructure, he built a legacy empire balancing communication and energy needs for millions.
Business Empire:
Globacom – Mobile telecommunications, data infrastructure, broadband
Conoil Producing – Oil exploration and distribution
Real Estate – Commercial and residential property portfolios across Lagos, Abuja, and Accra
2. Femi Otedola — Energy, Finance, and Power Sector Investor ($5.9 Billion)
Femi Otedola secures the second position in the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings, with an estimated net worth of $5.9 billion. His success story spans oil, energy, finance, and strategic holdings in banking.
How He Built His Wealth:
Otedola rose to prominence through Zenon Petroleum, a company that revolutionized fuel importation in Nigeria. He later expanded into power generation with Geregu Power Plc, and cemented his financial legacy through a major stake in First Bank Holdings.
Business Empire:
Zenon Petroleum & Gas Ltd – Fuel distribution and logistics
Geregu Power Plc – Power generation and energy infrastructure
First Bank of Nigeria Holdings – Banking and financial services
Real Estate – High-end properties in Lagos, London, and Dubai
3. Jimoh Ibrahim — Conglomerate Investor and Industrialist ($1.1 Billion)
Jimoh Ibrahim holds the third spot among the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings, with a net worth of $1.1 billion. Known for his expansive business model, he controls companies in insurance, oil, media, and aviation.
How He Built His Wealth:
Jimoh built his empire through smart acquisitions and diversification. Starting with insurance, he ventured into energy, real estate, and media to create a layered and resilient portfolio under Global Fleet Group.
Business Empire:
Global Fleet Group – Conglomerate with interests in insurance, hotels, and logistics
NICON Insurance – One of Nigeria’s biggest insurance institutions
Media & Publishing – Newspaper and magazine ownership
4. Deji Adeleke — Oil, Real Estate, and Education Magnate ($900 Million)
Deji Adeleke ranks fourth in the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings, with a net worth of around $900 million. A quiet but impactful businessman, Adeleke is the founder of Pacific Holdings Ltd and the proprietor of Adeleke University.
How He Built His Wealth:
Adeleke made early moves in oil and gas logistics, later spreading into education and real estate. His low-profile approach contrasts sharply with his expansive influence.
Business Empire:
Pacific Holdings – Oil trading, logistics, and energy investments
Adeleke University – Private tertiary institution in Osun State
Real Estate – Residential and commercial assets in Nigeria and the U.S.
5. Tunde Folawiyo — Shipping and Energy Tycoon ($850 Million)
Tunde Folawiyo secures his place in the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings with an estimated fortune of $850 million. He is the managing director of Yinka Folawiyo Group, one of the oldest family-owned conglomerates in Nigeria.
How He Built His Wealth:
Folawiyo inherited a legacy of wealth but multiplied it by innovating within traditional industries. From shipping and agriculture to energy and infrastructure, his diversified interests have paid off consistently.
Business Empire:
Yinka Folawiyo Group – Ports, shipping, energy, and agricultural products
Folawiyo Energy Ltd – Petroleum tank farm and depot operations
Maritime Investments – Container terminals and logistics assets
6. Oba Otudeko — Industrial Conglomerate Leader ($750 Million)
Oba Otudeko commands respect as one of the most influential industrialists in Nigeria. Ranked sixth in the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings, his net worth is estimated at $750 million.
How He Built His Wealth:
As founder of Honeywell Group, Otudeko leveraged the boom in Nigeria’s FMCG and financial sectors to create a vast network of subsidiaries across food production, telecommunications, and infrastructure.
Business Empire:
Honeywell Group – Food processing, energy, and real estate
Broadband Investments – Data infrastructure and communications
Financial Holdings – Stakeholder in key financial institutions
7. Segun Agbaje — Banking and FinTech Leader ($600 Million)
Segun Agbaje earns his spot in the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings through his leadership in Nigeria’s digital banking revolution. As the former CEO and now Group Chairman of GTCO (GTBank), he is widely respected in finance and fintech.
How He Built His Wealth:
Agbaje modernized GTBank into a tech-driven financial institution, pioneering mobile banking, SME financing, and cross-border expansion.
Business Empire:
GTCO Plc – Banking, fintech, and pension services
Real Estate Investments – Commercial properties and tech campuses
Fintech Startups – Venture capital in West African tech firms
8. Adebayo Ogunlesi — Global Infrastructure Investor ($500 Million)
Adebayo Ogunlesi stands out in the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings for his international success. With a net worth of $500 million, he chairs Global Infrastructure Partners, a private equity firm managing billions in assets globally.
How He Built His Wealth:
Ogunlesi transitioned from law and investment banking into infrastructure investments, acquiring major airports and energy facilities in Europe and the U.S.
Business Empire:
Global Infrastructure Partners (GIP) – Airports, energy grids, and transportation assets
Consulting & Advisory – High-level financial advisory services
Board Memberships – Member of top global financial institutions
9. Muyiwa Bakare — Real Estate and Hospitality Entrepreneur ($450 Million)
Ninth on the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings, Muyiwa Bakare built a property empire through luxury developments and strategic land banking.
How He Built His Wealth:
Bakare focused on premium locations in Lagos and Abuja, building gated estates, malls, and hospitality brands. His ability to identify undervalued property zones gave him a long-term financial edge.
Business Empire:
Bakare Properties Ltd – Luxury apartments and gated communities
UrbanLoft Hotels – Boutique hotel chain
Land Banking – Acquisition and resale in emerging city districts
10. Bola Shagaya — Businesswoman and Oil Trader ($420 Million)
Bola Shagaya makes the Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings, as one of Nigeria’s most prominent business figures. With a net worth of $420 million, her business acumen spans oil trading, fashion, and banking.
How She Built Her Wealth:
Starting in oil importation, Shagaya capitalized on Nigeria’s crude distribution needs and expanded into banking and fashion retail.
Business Empire:
Bolmus Group International – Oil, real estate, and fashion
UBA Board Membership – Strategic banking influence
Luxury Retail – Exclusive fashion distributorships
Conclusion
The Top 10 Richest Yoruba Men in Nigeria 2025 and Net Worth: Wealth Rankings illustrates the breadth of Yoruba excellence in entrepreneurship, leadership, and innovation. From telecom and energy to real estate and finance, these men dominate the economic narrative of Nigeria and inspire future generations to think big, invest wisely, and diversify boldly.
Frequently Asked Questions (FAQs)
1. Who is the richest Yoruba man in Nigeria in 2025?
Mike Adenuga leads with a net worth of $6.3 billion, thanks to his dominance in telecom and oil.
2. Which sectors drive Yoruba wealth the most?
Key sectors include telecom, oil and gas, real estate, banking, and infrastructure.
3. Who are some Yoruba billionaires in oil and energy?
Femi Otedola, Mike Adenuga, and Jimoh Ibrahim have major stakes in oil and power.
4. What bank is Segun Agbaje associated with?
GTBank, now GTCO, where he helped lead a digital banking revolution.
5. Is there a Yoruba billionaire in international business?
Yes, Adebayo Ogunlesi heads a global private equity firm with airport and energy investments worldwide.