As of 2025, Nigeria remains home to some of Africa’s wealthiest individuals. These influential business leaders have built empires across sectors such as manufacturing, oil and gas, telecommunications, finance, and technology.
Their investments not only shape Nigeria’s economy but also contribute significantly to the African continent at large.
Below is a list of the top 10 richest people in Nigeria in 2025, based on credible reports and financial estimates.
1. Aliko Dangote – $10.9 Billion
Aliko Dangote continues to hold the title of Nigeria’s richest man. He is the founder of the Dangote Group, a vast industrial empire involved in cement, sugar, salt, and, recently, oil refining. His newly completed Dangote Refinery is expected to drastically reduce Nigeria’s dependence on imported fuel.
2. Mike Adenuga – $6.9 Billion
Mike Adenuga is the founder of Globacom, one of Nigeria’s leading telecom networks. He also has interests in the oil sector through Conoil and in banking. His investments have consistently placed him among Africa’s wealthiest.
3. Abdul Samad Rabiu – $5.1 Billion
Rabiu is the chairman of BUA Group, a conglomerate involved in cement production, sugar refining, and real estate. He has continued to grow his wealth through strategic expansion and large-scale industrial projects across Nigeria.
4. Adebayo Ogunlesi – $2.3 Billion
Ogunlesi is a Nigerian-born investment banker and the founder of Global Infrastructure Partners (GIP), a private equity firm with a global footprint. His firm was acquired by BlackRock in 2024, adding to his net worth and global recognition.
5. Femi Otedola – $1.7 Billion
Otedola made his fortune in the energy sector and currently owns a controlling stake in Geregu Power Plc. He also holds major shares in First Bank Holdings and continues to invest in power generation and financial services.
6. Tope Awotona – $1.4 Billion
Tope Awotona is the founder and CEO of Calendly, a scheduling software company now valued at over $3 billion. Though based in the U.S., Awotona’s Nigerian heritage places him among the richest Nigerians with a strong presence in global tech.
7. Folorunso Alakija – $1 Billion
Alakija is one of Africa’s most prominent female billionaires. Her wealth comes primarily from her stake in Famfa Oil, which operates one of Nigeria’s largest offshore oil fields. She also has interests in fashion and real estate.
8. Tony Elumelu – $700 Million
Tony Elumelu is the chairman of Heirs Holdings and the United Bank for Africa (UBA). He is also a key player in Nigeria’s energy sector through Heirs Energies. Through his foundation, he supports entrepreneurship across Africa.
9. Jim Ovia – $550 Million
Jim Ovia is the founder of Zenith Bank, one of Nigeria’s largest financial institutions. He also has investments in real estate and previously operated Visafone, a telecom company that was later acquired by MTN Nigeria.
10. Mohammed Indimi – $500 Million
Indimi is the founder of Oriental Energy Resources, an oil exploration and production company. He is also known for his philanthropic work in Northern Nigeria, especially in education and housing.
Conclusion
These individuals are not just billionaires by net worth — they are powerful influencers driving innovation, investment, and development in Nigeria and beyond. Their businesses employ thousands and continue to shape Africa’s future.
References and Sources
Forbes Billionaires List (2025): www.forbes.com
Billionaires.Africa (2025 Report): https://www.billionaires.africa
Bloomberg Billionaires Index
Corporate financial reports from Dangote Group, BUA Group, Globacom, Geregu Power, Zenith Bank, and Calendly
