Forbes List: The Richest Billionaires In Nigeria

Forbes Magazine has released the 38th edition of its World Billionaires List for 2024. The list comprises of the richest Billionaires from all over the world, from Europe down to Americas, Asia and Africa.
In Africa, a number of Nigerian Billionaires were included in the list which includes Africa’s richest man Aliko Dangote alongside other Nigerian Billionaires.

Here, we are going to check out the richest men in Nigeria, their net worth, age and their source of income.

1. Aliko Dangote

Net Worth: $13.4 Billion
Age: 67
Industry: Cement Industry

Dangote remained Africa’s richest man, recording a net worth of $13.4 billion as of April 2, 2024.
Aliko Dangote, founded and is the current chairman of Dangote Cement, which is Africa’s largest cement producer.
According to Forbes, the company owns 85 percent of the publicly-traded cement firm, through a holding company.

2. Mike Adenuga

Net Worth: $7 Billion
Age: 70
Industry: Telecommunications and Oil Production

Femi Adenuga, according to Forbes is Nigeria’s second richest billionaire. He built his fortune through telecommunications and oil production. And is now the 409th richest person globally.

His Multi-billionaire telecommunications company, Globacom, is considered among three largest mobile networks operating in Nigeria, with over 60 million subscribers.

He also owns 74 percent of oil firm ‘Conoil producing’ which operates six oil blocks in the Niger Delta.

3. Abdulsamad Rabiu

Net Worth: $6.6 Billion
Age: 63
Industry: Cement Production, Sugar refining and real estate.

Abdulsamad Rabiu, is the founder of BUA Group, a Nigerian company active in cement production, sugar refining and real estate management.

The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange, and he owns 98.2 percent of it. He also owns 95 percent of publicly traded food conglomerate BUA Foods. He set up his own business in 1988 importing iron, steel and chemicals. According to Forbes, he is the 581st richest person in the world.

4. Femi Otedola

Net Worth: $1.8 Billion
Age: 61
Industry: Geregu Power Plc.

Femi Otedola, in his early years made his fortune in commodities before selling his shares in Forte Oil to invest in the energy business.

He is the chairman of Geregu Power, a power generation business. During 2022 and 2023 Otedola sold down a Geregu stake that was once more than 95 percent to bring on institutional investors.

He also owns properties in Lagos, Dubai, London and Monaco, and holds shares in Zenith Bank and First Bank of Nigeria (FBN) Holdings. And he is ranked number 2,152 in the Forbes billionaires ranking.

Read Also: Forbes List: The Top 5 Richest People In The World

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