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Muna Tengi
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The Top 6 Richest Men In Rivers State: Rivers State Billionaire
Rivers State, located in the Niger Delta region of Nigeria, is a place of immense natural wealth, primarily due to its abundant reserves of oil and natural gas. As one of the major oil-producing states, Rivers has become home to many affluent individuals who have capitalized on the region's resources. Among these are billionaires who have not only accumulated significant wealth but also left indelible marks on the economic and social landscapes of the state and beyond. This article highlights some of the living billionaires who are indigenes of Rivers State, their contributions, and their influence.
1. Chief Dumo Lulu-Briggs
One of the most notable billionaires from Rivers State is Chief Dumo Lulu-Briggs. Born into the illustrious Lulu-Briggs family, Dumo is the son of High Chief O.B. Lulu-Briggs, the founder of Moni Pulo Limited, an oil exploration and production company. While his father laid the foundation of their family’s wealth, Dumo Lulu-Briggs has significantly expanded the business and diversified their investment portfolio.
Moni Pulo Limited holds significant interests in Nigeria’s oil sector, particularly in onshore and offshore oil blocks. The company has been a key player in the exploration and extraction of oil resources, contributing not only to the Lulu-Briggs family's fortune but also to the economy of Rivers State.
Dumo is also involved in politics, having contested in various elections in the state. His wealth and influence go beyond oil, as he is actively involved in philanthropy through the O.B. Lulu-Briggs Foundation. The foundation has undertaken numerous charitable activities in Rivers State, particularly in healthcare, education, and community development. Dumo’s wealth, strategic investments, and philanthropic efforts have solidified his position as one of the top billionaires in Rivers State.
2. Tonye Cole
Another billionaire from Rivers State who commands attention is Tonye Cole, co-founder and former CEO of Sahara Group, one of Africa's leading energy conglomerates. Born into the respected Cole family, Tonye Cole’s journey to wealth was propelled by his business acumen and leadership in the energy sector.
Sahara Group, under Tonye’s leadership, diversified its operations to include oil trading, storage, distribution, and power generation. The company grew from a small trading firm into a global enterprise with a presence in over 38 countries. Cole’s wealth is derived largely from his success in the oil and gas industry, as well as his strategic investments in other sectors.
Tonye Cole is also known for his philanthropic endeavors. Through the Sahara Foundation, he has supported numerous projects focused on education, healthcare, and environmental sustainability. In addition to his business pursuits, Cole has ventured into politics, running for the governorship of Rivers State under the All Progressives Congress (APC) banner. His blend of wealth, political ambition, and a drive for social impact makes him one of the most prominent figures in Rivers State today.
3. Senator Magnus Abe
Senator Magnus Abe is another influential figure from Rivers State who, while primarily known for his political achievements, has also amassed considerable wealth over the years. Abe has served in various political capacities, including as the Secretary to the Rivers State Government and as a Senator representing the Rivers South-East Senatorial District. His involvement in politics has been pivotal to his rise to wealth and influence.
Beyond politics, Magnus Abe is a businessman with interests in real estate, agriculture, and oil. Although he may not be as prominently associated with large corporations as some of his contemporaries, his political influence, coupled with his business ventures, places him among the wealthy elite of Rivers State.
Abe's wealth has also enabled him to support numerous social and community-based initiatives, particularly in the areas of education and youth empowerment. His philanthropy, combined with his business and political clout, has made him a formidable force in the state.
4. Chief Barrister Nyesom Wike
While primarily recognized for his political leadership as the former governor of Rivers State, Nyesom Wike has built significant wealth over the years, largely through real estate, legal practice, and other strategic investments. Wike's rise to prominence began in his early days as a lawyer before transitioning into politics, where he served as Minister of State for Education and later as Governor of Rivers State.
During his time in office, Wike oversaw various developmental projects aimed at improving infrastructure, education, and healthcare within the state. His administration was marked by massive urban renewal efforts, particularly in the state capital, Port Harcourt. These ventures also indirectly contributed to his personal wealth, as his influence and connections in the business world grew.
In addition to his legal and political earnings, Wike is believed to have substantial real estate holdings within Rivers State and beyond. His post-governorship years have seen him remain politically active, and his wealth continues to grow through various investments.
5. Atedo Peterside
Atedo Peterside is another influential billionaire from Rivers State, known primarily for his role in Nigeria’s financial sector. Peterside is the founder of Stanbic IBTC Bank, one of Nigeria's largest and most successful financial institutions. His career in banking has spanned decades, during which he has built considerable wealth.
Stanbic IBTC, under Peterside’s leadership, became a major player in corporate banking, wealth management, and investment services in Nigeria. His success in the banking industry has allowed him to diversify his investments into other sectors, including real estate, telecommunications, and energy.
Peterside is also known for his philanthropic work, particularly in the areas of education and governance. He founded the Anap Foundation, which focuses on promoting good governance and public accountability in Nigeria. His wealth and philanthropic efforts have earned him a reputation as one of the most respected business leaders in the country, and his roots in Rivers State further cement his place among the state's top billionaires.
6. Prince Tonye Princewill
Prince Tonye Princewill, a businessman and politician, is another wealthy individual from Rivers State. Known for his involvement in both politics and entertainment, Princewill has carved a niche for himself among the elite of Rivers State. His wealth comes from diverse sources, including investments in oil and gas, media, and real estate.
Princewill's political career has seen him run for various offices, including the governorship of Rivers State, though he is perhaps more famous for his contributions to the film industry. His production company has been involved in several high-profile Nollywood projects, which have further enhanced his wealth and influence.
In addition to his business ventures, Princewill has been involved in numerous philanthropic activities, particularly in the areas of youth development and education. His wealth, political ambition, and involvement in the arts make him a unique figure in the billionaire class of Rivers State.
Conclusion
Rivers State, with its immense natural resources and strategic location in Nigeria's Niger Delta, has produced a significant number of wealthy individuals who have made their mark not only in business but also in politics, philanthropy, and social development. Billionaires like Chief Dumo Lulu-Briggs, Tonye Cole, Senator Magnus Abe, Chief Barrister Nyesom Wike, Atedo Peterside, and Prince Tonye Princewill are not just notable for their wealth but also for their contributions to the growth and development of Rivers State.
Their success stories reflect a combination of entrepreneurial spirit, strategic investments, and the ability to leverage the state's resources to create lasting legacies. As Rivers State continues to play a vital role in Nigeria’s economy, these billionaires will likely continue to shape the future of the region for years to come.
