Borno State Billionaires: Top 10 Richest Men In 2024

Borno State, located in northeastern Nigeria, is often associated with its historical and geopolitical significance. Despite the security challenges it has faced, the state is home to several individuals who have achieved significant financial success. These billionaires and millionaires have amassed wealth through various sectors such as politics, business, agriculture, oil and gas, and construction. Below is a detailed analysis of the top 10 richest men from Borno State as of 2024.

1. Alhaji Muhammadu Indimi

Business Ventures: Oil and Gas
Net Worth: Estimated in billions of dollars

Alhaji Muhammadu Indimi is one of the most successful businessmen not only in Borno but in Nigeria as a whole. He is the founder and chairman of Oriental Energy Resources, a privately held oil exploration and production company. His wealth primarily stems from his involvement in the Nigerian oil industry, which has brought him global recognition. Indimi is also known for his philanthropic activities, particularly in education and healthcare development in Borno State.

Philanthropy: Indimi has established several schools and universities in Borno, including the Muhammadu Indimi Foundation. His foundation has helped displaced families due to the Boko Haram insurgency.

2. Alhaji Mohammed Dikwa

Business Ventures: Real Estate, Finance
Net Worth: Billions of naira

Alhaji Mohammed Dikwa is another prominent figure from Borno State. He is the founder and CEO of Peniel Apartments Limited, a successful real estate company based in Abuja. Dikwa has made significant investments in real estate across Nigeria, which has significantly contributed to his wealth. His influence extends to the finance sector, where he has played a key role in growing financial institutions.

Philanthropy: Dikwa is known for sponsoring educational programs and healthcare projects, particularly aimed at helping internally displaced persons (IDPs) in Borno.

3. Kashim Shettima

Business Ventures: Politics, Agriculture
Net Worth: Billions of naira

Kashim Shettima is a former governor of Borno State and the current vice president of Nigeria. Before his political career, Shettima was deeply involved in agriculture, particularly in the food processing industry. His investments in farming and agricultural products have made him one of the wealthiest individuals from Borno. His time in politics further broadened his influence, allowing him to venture into real estate and other sectors.

Philanthropy: Shettima has focused on providing scholarships for students in Borno and rebuilding infrastructure damaged by insurgency.

4. Mamman Daura

Business Ventures: Media, Manufacturing
Net Worth: Billions of naira

Mamman Daura is a highly influential businessman, known for his leadership in African International Bank and his investments in various sectors such as media and manufacturing. He has ties to Nigeria’s top political leaders and has leveraged those connections to build an empire. Daura hails from Borno State and has consistently remained one of the wealthiest figures in northern Nigeria.

Philanthropy: Daura’s charitable activities include educational sponsorship and financial support for displaced persons in Borno.

5. Alhaji Baba Kachalla

Business Ventures: Agriculture, Transportation
Net Worth: Billions of naira

Alhaji Baba Kachalla is a successful businessman in the agricultural and transportation sectors. His company, Borno Agro Ventures, specializes in farming and food production, with products exported to different regions of Nigeria and West Africa. He has also invested in the transport industry, owning a fleet of trucks and buses that operate across northern Nigeria.

Philanthropy: Kachalla is passionate about rural development, providing tractors and other farming equipment to local farmers at reduced rates.

6. Abba Kyari (Jr.)

Business Ventures: Telecommunications, Energy
Net Worth: Billions of naira

Abba Kyari Jr., son of the late Chief of Staff to the President, Abba Kyari, has built a business empire of his own. He is deeply involved in the telecommunications and energy sectors. Kyari Jr. has made major investments in solar energy projects, especially in northern Nigeria, contributing to the region’s economic development.

Philanthropy: Kyari is committed to improving the energy infrastructure in Borno, helping rural communities access clean and renewable energy.

7. Mohammed Babangida

Business Ventures: Real Estate, Finance
Net Worth: Billions of naira

Mohammed Babangida is a prominent businessman in Borno State with a substantial portfolio in real estate and financial services. His wealth comes from his involvement in the construction of residential and commercial properties across Nigeria. Babangida has also established several investment companies, contributing to his high net worth.

Philanthropy: Babangida is actively involved in charity work, providing housing for IDPs and building schools for the underprivileged.

8. Zanna Bukar Kolo

Business Ventures: Agriculture, Oil and Gas
Net Worth: Billions of naira

Zanna Bukar Kolo is an influential entrepreneur in the agriculture and oil and gas industries. His agricultural investments have focused on large-scale farming and food processing, while his involvement in the oil sector has led to various lucrative contracts. Kolo has been instrumental in driving economic growth in Borno through his businesses.

Philanthropy: Kolo’s philanthropic activities focus on providing employment opportunities for the youth in Borno and supporting local farmers.

9. Dr. Ibrahim Tahir

Business Ventures: Healthcare, Education
Net Worth: Billions of naira

Dr. Ibrahim Tahir is a medical doctor and businessman who has ventured into private healthcare and education. He owns several private hospitals in northern Nigeria, as well as a chain of schools. Tahir’s wealth is primarily derived from his successful healthcare business, which caters to the affluent and middle-class population of the region.

Philanthropy: Tahir has launched numerous healthcare initiatives aimed at providing free medical care to underprivileged communities in Borno.

10. Ali Modu Sheriff

Business Ventures: Politics, Real Estate, Oil and Gas
Net Worth: Billions of naira

Ali Modu Sheriff is a former governor of Borno State and a major player in Nigerian politics. Sheriff has a vast business portfolio, including interests in real estate, oil and gas, and construction. His wealth has grown substantially over the years, making him one of the richest men in Borno. Sheriff’s political influence has also helped his business ventures flourish.

Philanthropy: Sheriff has been actively involved in rebuilding efforts in Borno, particularly in providing housing and infrastructure for those affected by insurgency.

Conclusion

Despite the challenges faced by Borno State, these billionaires and wealthy businessmen have not only accumulated vast wealth but also contributed significantly to the development of the state. Their investments in various sectors such as oil and gas, agriculture, real estate, and healthcare have helped to create jobs, improve infrastructure, and provide essential services to the people of Borno. As the state continues to rebuild, these men remain at the forefront of its economic recovery and growth.