Forbes: These Are the Richest People In Nigeria, 2019
The people you are about to read about are the Richest People in Nigeria according to Forbes.
According to this year’s Forbes Richest Billionaires Ranking, Aliko Dangote is Nigeria’s richest man. His networth is estimated at $10.3 billion. $2 billion less than his networth a year ago, primarily due to a roughly 20% drop in the stock price of Dangote Cement, his most valuable asset.
Nigeria’s second richest billionaire is Mike Adenuga, he is worth an estimated $9.2 billion. Adenuga owns Globacom, which is Nigeria’s third-largest mobile phone network, plus oil exploration firm Conoil Producing, extensive real estate holdings in Nigeria and a network of 12,000 cellphone towers. His net worth climbed dramatically from $5.3 billion in January 2018 as a result of more detailed information provided by him about his assets.
Number three richest person in Nigeria is Abdulsamad Rabiu, the founder of BUA Group.
See full list below
According To Forbes, These Are The Richest Billionaires In Nigeria, 2019
1. Aliko Dangote
Networth: $10.3 billion
Source of money: Cement, Sugar, Flour
Aliko Dangote is the richest man in not just Nigeria, but in Africa as a whole, he is the founder and chairman of Dangote Cement, the continent’s largest cement producer.
Dangote Cement produces 44 million metric tons annually and plans to increase its output 33% by 2020.
Dangote also owns stakes in publicly-traded salt, sugar and flour manufacturing companies.
2. Mike Adenuga
Networth: $9.2 billion
Source of income: Telecoms, Oil
Mike Adenuga, Nigeria’s second richest man, and Africa’s second richest man built his fortune in telecom and oil production.
His mobile phone network, Globacom, is the second largest operator in Nigeria, with 37 million subscribers.
His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta.
Adenuga made his first million at age 26 selling lace and distributing soft drinks.
3. Abdulsamad Rabiu
Networth: $1. 6 billion
Source of money: Cement, Sugar
Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate.
His BUA Group also owns Obu Cement, which expanded its production with a new line in 2018.
He is the 16th richest billionaire in Africa
4. Folorunsho Alakija
Networth: $1.1 billion
Source of money: oil, Self Made
Folorunsho Alakija Is The first female billionaire from Nigeria, the 4th Richest person in Nigeria and the 19th richest person in Africa. She is the vice chair of Famfa Oil. Her first company was a fashion label that catered to Nigeria’s elite women, including the wife of former military president, Ibrahim Babangida, who awarded Alakija’s company an oil prospecting license.
Folorunsho Alakija | Forbes
- Folorunsho Alakija is vice chair of Famfa Oil, a Nigerian oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset.
- Famfa Oil’s partners include Chevron and Petrobras.
- Alakija’s first company was a fashion label whose customers included the wife of former Nigerian president Ibrahim Babangida.
- The Nigerian government awarded Alakija’s company an oil prospecting license in 1993, which was later converted to an oil mining lease.
- The Agbami field has been operating since 2008; Famfa Oil says it will likely operate through 2024.