1. Aliko Dangote – $23.9 Billion
Aliko Dangote remains Africa’s richest man, a title he has held for over a decade. Born in 1957 in Kano, Nigeria, he founded the Dangote Group, which started as a small trading firm in 1977. Over time, he expanded into manufacturing, focusing on cement, sugar, flour, and most recently, petroleum refining. Dangote Cement is a dominant brand in Africa, supplying a significant portion of the continent’s cement needs.
In 2024, Dangote Refinery, the largest in Africa, commenced operations with the goal of reducing Nigeria’s dependence on imported petroleum products. His contributions to industrial development make him a key player in Nigeria’s economic progress.
2. Mike Adenuga – $6.8 Billion
Mike Adenuga, born in 1953, is one of Nigeria’s most influential businessmen, with investments in telecommunications, oil, and banking. He is the founder and chairman of Globacom (Glo), Nigeria’s second-largest telecom provider, recognized for its affordable data plans and extensive network across West Africa.
Adenuga made his first fortune in the oil sector through Conoil, an exploration and production company. Despite maintaining a low profile, his impact on Nigeria’s economy is profound, creating employment and investment opportunities across various sectors.
3. Abdulsamad Rabiu – $4.7 Billion
Abdulsamad Rabiu, born in 1960, is the founder and chairman of BUA Group, a leading conglomerate in Nigeria’s manufacturing industry. His business empire spans cement, sugar, flour, real estate, and ports.
Starting with a small trading business inherited from his father, Rabiu transformed it into a billion-dollar conglomerate. His company has played a crucial role in Nigeria’s industrialization, particularly in cement production, where BUA Cement competes directly with Dangote Cement.
4. Femi Otedola – $1.7 Billion
Femi Otedola, born in 1962, built his wealth in the oil and gas sector through Forte Oil, a company he later sold to shift his focus to the power industry. He currently serves as chairman of Geregu Power Plc, a major player in Nigeria’s electricity generation sector.
Apart from his business ventures, Otedola is known for his philanthropy and investments in Nigeria’s economic development. He has also made significant financial investments, including in First Bank of Nigeria.
The platform gained widespread adoption, particularly during the COVID-19 pandemic, when remote work and virtual meetings became essential. Awotona’s success in the tech industry makes him one of the few Africans to attain billionaire status in Silicon Valley.
5. Adebayo Ogunlesi – $2.3 Billion
Adebayo Ogunlesi, born in 1953, is a Nigerian investment banker and businessman who built his fortune in finance. He is the chairman and CEO of Global Infrastructure Partners (GIP), a private equity firm specializing in infrastructure investments worldwide.
These six billionaires not only exemplify financial success but also contribute significantly to economic growth, job creation, and industrial development in Nigeria and beyond.
6. Tope Awotona – $1.4 Billion
Tope Awotona, a Nigerian-born entrepreneur based in the United States, is the founder and CEO of Calendly, a popular scheduling software company. Born in Lagos, Nigeria, he moved to the U.S. as a teenager and initially pursued a career in sales before launching Calendly in 2013.
The platform gained widespread adoption, particularly during the COVID-19 pandemic, when remote work and virtual meetings became essential. Awotona’s success in the tech industry makes him one of the few Africans to attain billionaire status in Silicon Valley.
