What is the secret to the success of the top 20+ richest people in Nigeria? Who are the Nigerian billionaires and how did they amass their wealth? What are the business success secrets of the successful entrepreneurs in Nigeria? What does it take to become a billionaire in Nigeria? If the answer to any of these questions interests you, then please read on.
Recently, i compiled a list of the world’s richest billionaire school drop outs and today, I will be compiling a list of Nigerian billionaires and top richest people in Nigeria but please this list will be restricted to entrepreneurs only. Politicians and individuals whose source of wealth cannot be traced are excluded from this list.
Most people have asked why so few Nigerians made the Forbes list of richest people in the world. So far, only Aliko Dangote, Mike Adenuga, Femi Otedola and a few others have made the Forbes list of world billionaires. Well the answer to that question is this: Forbes estimates the wealth of individuals and rank them based on the value of shares they have in quoted companies (companies listed on the stock exchange) and most of the richest people in Nigeria prefer to run their businesses privately. That’s why they don’t make the Forbes list of richest people in the world.
Update: We want to state categorically that this list has nothing to do with the Forbes list. We are not affiliated with Forbes and did not source this content from Forbes. We did our own research before coming up with this list. Secondly, our list is strictly focused on entrepreneurs / business owners whose businesses can be ascertained; not politicians. Thank you.
The criteria for coming up with this list
Most of you may be wondering the criteria or benchmark on which I compiled this list of richest people in Nigeria. Well, I compiled this list based on the following criteria:
- By the value of their shares held in quoted companies.
- The size and market share of their companies
- The number of companies they own and its assumed value
- The market value of their company’s brand
- The impact of their companies on the Nigerian economy
I compiled this list of richest people in Nigeria and highlighted the secret to their success because I believe we can learn a lot from them. Nigeria as a country has been branded all sort of names and a lot has been said about Nigeria; both positive and negative but I am proud that some individuals stood tall to tell the world that we have got potentials.
Despite the harsh terrain and business challenges involved with starting a business in Nigeria; the successful entrepreneurs listed below held their ground and fought their way to the top. In a country with a population of over 150 million inhabitants and millions of businesses; these 20 entrepreneurs diligently carved their names in the sands of time. So instead of boring you with their success stories; I would rather extract the vital lessons learned from the life of these billionaires. If you are ready to learn, then below is a list of the Nigerian Billionaires (entrepreneurs) and top richest people in Nigeria.
Nigerian Billionaires and Top 20+ Richest People (Entrepreneurs) in Nigeria 2013
1. Alhaji Aliko Dangote – Dangote Group, (Manufacturing, oil & gas,)
2. Mike Adenuga – Conoil, Equatorial Trust Bank, Globacom (Oil & gas, Banking, Telecom)
3. Femi Otedola – Forte Oil and Gas (Oil & gas)
4. Orji Uzor Kalu – Slok Group (Aviation, Shipping, publishing, manufacturing)
5. Cosmos Maduka – Coscharis Group (Automobile, manufacturing)
6. Jimoh Ibrahim – Nicon Insurance, Global Fleet (Insurance, transportation, oil & gas)
7. Jim Ovia – Zenith Bank, Visafone (Banking, Telecom)
8. Pascal Dozie – MTN Nigeria, Diamond Bank (Banking, Telecom)
9. Oba Otudeko – Honeywell Group Nigeria, Pivotal Engineering, Airtel (Manufacturing, oil & gas, telecom)
10. Alhaji Sayyu Dantata – MRS Group (Oil & gas, construction)
11. Umaru Abdul Mutallab – former Chairman First Bank Plc, Mutallab Group
12. Prince Samuel Adedoyin – Doyin Group (manufacturing, pharmaceuticals)
13. Dele Fajemirokun – Chaiman Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards (Insurance, Technology, Security, Food retailing)
14. Chief Cletus Ibeto – Ibeto Group (Trading, manufacturing, oil & gas)
Raymond Dokpesi – Daar Communication, AIT, (Entertainment)
16. Tony Ezenna – Orange Group (Pharmaceutical, oil & gas)
17. Chief Molade Okoya Thomas – Chairman CFAO Nig and other six french companies (Automobiles)
Ifeanyi Ubah – Capital oil and gas (Oil & gas)
19. Leo Stan Ekeh – Zinox (Computer, technology)
20. Fola Adeola – GTBank (Banking)
21. Chief Ade Ojo – Elizade Motors Nig LTD, Distributor of Toyota cars (Auto retailing)
22. Abdulsamad Rabiu – Bua Group (Oil & gas, manufacturing)
23. Folorunsho Alakija – Famfa Oil (Oil & gas)
24. High Chief O.B. Lulu Briggs – Moni Pulo (Oil & gas)
25. Hakeem Bello Osagie – Etisalat Nigeria (Telecom)
26. Sani Bello – Amni Petroleum (Oil & gas)
27. Mohammed Indimi – Oriental Petroleum (Oil & gas)
28. Sir Emeka Offor – Chrome Group (Oil & gas, marine)
29. Chief Arthur Eze – Atlas Oranto Petroleum (Oil & gas)
30. Vincent Amaechi Obianodo – Young Shall Grow Motors, RockView Hotels (Transportation, hotels)
Now having gone through the list of richest (entrepreneurs) people In Nigeria, I believe it’s time I share with you the secret to their success. I am not sharing these secrets with you to fill up space or excite you. Rather, I am sharing the secrets of Nigerian billionaire entrepreneurs so you can pick up one or two lessons and replicate their success strategy. After all, success can be replicated.