Top 5 Wealthiest Nigerian Billionaires And Their Source Of Wealth

• Every year wealthy Nigerians are listed in Forbes ranking of African Billionaires

• This list contains the elite moneymakers in the country

• Find out the 5 richest Nigerian billionaires and the source of their income

Every year the ranking of the richest Nigerian billionaires changes.

Some people make a load of money and get included in the richest list, while others lose a reasonable portion of their wealth.

Do you want to find out who the richest billionaires in Nigeria are and how they make their wealth? Stick around.

1. Aliko Dangote $12.1 Billion

Aliko Dangote is not just the richest man in Nigeria but also the richest in Africa.

This African billionaire has a net worth of $12.1 billion, according to the latest ranking released by Forbes.

Dangote is the founder and owner of Africa’s largest cement producer, Dangote Cement.

Dangote also owns a stake in salt and sugar manufacturing companies in Nigeria.

2. Mike Adenuga $6.3 Billion

Mike Adenuga is second on Nigeria’s Billionaires list. He is also the fifth richest man in Africa with a net worth of $6.3B.

Adenuga built the larger portion of his wealth from Telecom and oil production.

He is the owner of the 3rd largest telecom operator in Nigeria, Globacom.

The Yoruba billionaire also owns Conoil and 6 oil blocks in the country.

3. Abdulsamad Rabiu $5.5 Billion

Abdulsamad Rabiu the founder of BUA Group and among the richest Nigerian billionaires with a net worth of $5.5B.

Rabiu’s BUA Group is a conglomerate that specializes in the production of cement, sugar refining, and real estate.

Rabiu was the son of a businessman and started his business in 1988 by importing and selling iron and steel.

4. Femi Otedola $1.8

Although Femi Otedola is not listed in the latest Forbes ranking, the last time he was listed, he was worth $1.8B.

The majority of Otedola’s wealth comes from his controlling shares in Forte oil, which he recently sold.

The 58-year-old billionaire lives in Lagos and is currently exploring other industries to invest in.

Read also: See how Google founders made $42 Billion in 2021 Q1

5. Folorunsho Alakija $1 Billion

Folorunsho Alakija was also not listed in the latest Forbes list but she is one of the richest Nigerian Billionaires.

The last time she made the Forbes list was in 2020, with a net worth of $1B.

The majority of Alakija’s wealth comes from her stake in Agbami Oilfield. However, the 69-year-old also owns a fashion label.

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