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.

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 and Femi Otedola 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.


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.

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 –    founder of Dangote Group and Richest black man in the world

2.            Mike Adenuga –    Conoil, Equatorial Trust Bank, Globacom

3.            Femi Otedola –     ZENON Oil and Gas

4.            Orji Uzor Kalu –      Slok Group

5.            Cosmos Maduka –     Coscharis Group

6.            Jimoh Ibrahim –     Nicon Insurance, Global Fleet

7.            Jim Ovia –       Zenith Bank, Visafone

8.            Pascal Dozie –     MTN Nigeria, Diamond Bank

9.            Oba Otudeko –    Honeywell Group Nigeria

10.          Alhaji Sayyu Dantata –   MRS Group

11.          Umaru Abdul Mutallab – former Chairman First Bank Plc, Mutallab Group

12.          Prince Samuel Adedoyin – Doyin Group

13.          Dele Fajemirokun –        Chaiman Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards etc.

14.          Chief Cletus Ibeto –        Ibeto Group

15.          Raymond Dokpesi –        Daar Communication, AIT,

16.          Tony Ezenna –                   Orange Group

17.          Chief Molade Okoya Thomas –    Chairman CFAO Nig and other six french companies

18.          Ifeanyi Ubah –      Capital oil and gas

19.          Leo Stan Ekeh –      Zinox

20.          Fola Adeola –      GTBank

21.          Chief Ade Ojo –        Elizade Motors Nig LTD, Distributor of Toyota cars

Written by Ajaero Tony Martins

Ajaero Tony Martins is a serial entrepreneur and investor with several successful companies in his portfolio. He does business in one of the world’s toughest environment and has an audacious goal to become a billionaire in his life time.

Source: Strategic Business Team