Nigeria is Africa’s most populous country, with the largest growing economy at about 6.7% annually. The oil industry is the backbone of the country’s economy. This is because most of the top 10 millionaires in Nigeria heavily invest in the sector. Likewise, others invest in agriculture, entertainment, media, banking industries, infrastructure, manufacturing, and production industries.
This article will talk about the top ten millionaires in Nigeria in no particular order.
#1Orji Uzor Kalu (Net worth $600 million)
Orji Uzor was born on 21st April 1960. He started by selling sugar, palm oil, and rice after borrowing $35 from his mother. Moreover, Orji ventured into manufacturing and transportation in his 20’s. In the 1980s, the Nigerian government awarded him contracts of supplying and importing arms.
He was the chairman of SLOK Holding and Daily Sun, and the New Telegraph newspaper in Nigeria. His Daily Sun and Telegraph newspaper circulates 130,000 and 100,000 newspapers daily, respectively. He served as the governor of Abia state from 29th May 1999 to 29th May 2007. As a result, he was a chairman of the Borno water board and chairman of Cooperative and Commercial Bank.
#2Hajia Bola Shagaya
Hajia Bola Shagaya was born on 10th October 1959. Firstly, she is a businesswoman and fashion enthusiast who started her career with Nigeria’s audit department. Hajia is among the top 10 millionaires in Nigeria. She is the manager of Practoil Limited, a distributor of oil in Nigeria, and deals with huge investments in real estate with many employees.
In 2005 she became a managing director of Practoil limited and enlarged her productions in the oil and gas industry. Consequently, she is on the board of Unity Bank PLC. Similarly, she has developed a passion for the art industry by supporting fashion designs. Here she is a patron in the Fashion Designers Association of Nigeria.
#3Ekanem Ejindu
Ekanem Ejindu was born in Ibadan, Nigeria. Great-granddaughter of King James Ekpo Bassey of Cobham. She owns a Star crest Group of companies. The companies started in 1995 and comprised Star crest Investment limited, Star crest Associates, and Star crest Industries limited. Star crest Investments has initiated investment forums in the United Arab Emirates to attract foreign investors.
Ekanem Ejindu formed Hope centers with the idea of getting the youths off the streets. Above all, she launched the African and fashion Initiative in August 2013 to showcase and enrich the African culture and empower youth.
#4Jim James Ovia (Net worth $980million)
Jim Ovia was born on 4th November 1951. He is the creator of Zenith Bank PLC, one of the moneymaking financial organizations in Nigeria. Ovia is the founder of Visafone communications limited and the chairman of the Nigerian software development Initiative. James Ovia founded Mankind United to support total education, which provides scholarships to the less privileged.
#5Pascal Uzoma Dosie (Net worth $990 million)
He was born on 2nd November 1969. He is the CEO and founder of Sparkle. It’s a financial technology community. Pascal ranks among the top 10 millionaires in Nigeria as he is on Women’s World Banking. He speaks at conferences around the world on matters of financial inclusion.
Pascal is known as an advocate for showcasing technology startups. Uzoma has fronted a virtual TV show called Tech Tusks, discussing building tech businesses’ challenges and opportunities. Consequently, Pascal Uzoma Dosie launched Tech Fest in 2018, bringing together dignitaries of technology.
#6Folorunsho Alakija(Net worth $1.1billion)
Born on 15th July 1951, Alakija ventures in the fashion, oil, real estate, and printing industries. She has a major share in the Day Springs Development Company. Moreover, Folorunsho created a tailoring company called Supreme Stitches.
On the other hand, she is the head of The Rose of Sharon Group, Digital Reality Prints Limited, and the directorial Vice Chairman of Famfa Oil Limited.
#7Abdulsamad Rabiu (Net worth $1.6billion)
He was born on 4th August 1960. First, Khalif Isyaku Abdul’s father was among the tycoons in the 1970’s and 1980’s. The BUA group founder and the chairperson are Abdul Samad, who deals with agriculture, production, manufacturing, and infrastructure. Samad is currently the Nigerian Bank of Industry chairperson.
In conclusion, the construction of rolling mills, importation of iron, ore, and billets production led BUA’sthe expansBUABUA acquired oil mills limited company.
#8Aliko Dangote (Net worth $8.8billion)
Born on 10th April 1957, Aniko is the founder of Dangote cement. Most importantly, Aliko owns large shares in companies that manufacture sugar as well as salt.
#9Femi Otodela (Net worth$2.6billion)
He was born on 4th November 1962. Firstly, Femi began by heading the family’s printing press business, and he switched to the oil business. In 2003 he identified an opportunity in the fuel market. Moreover, he is on top of the 10 millionaires in Nigeria as he founded Zenon Petroleum and gas limited. By 2005 Zenon controlled a major share of the Nigerian diesel market supplying fuel to the country. He is the chairman of Forte Oil PLC.
#10Theophilus Danjuma(Net worth $2.9billion)
Theophilus Danjuma is a founder of an oil exploration company that owns upstream assets in Nigeria, Madagascar, Benin, and the Central African Republic. COMET shipping agencies was established in 199 to perform as representative for Nigeria American Line. In conclusion, COMET is now working in Nigeria, handling all types of ships.
MORE:
- Nigeria’s top economy shareholders
- Oil as a major export in Nigeria
