Top 7 Richest Women In Nigeria: Net Worth And Investments 2024

Nigeria, often celebrated as the "Giant of Africa," boasts a robust and diverse economy. Within this landscape, several formidable women have emerged as leading figures in various sectors, showcasing their business acumen, innovation, and resilience. According to Forbes 2024, these women have not only achieved significant financial success but have also made considerable contributions to their industries and communities. Here, we explore the top seven richest women in Nigeria, detailing their net worth, investments, and the journeys that led them to the pinnacle of success.

1. Folorunsho Alakija

Net Worth: $1 billion

Investments: Oil and Gas, Fashion, Real Estate

Folorunsho Alakija is a prominent figure in Nigeria's business world and is widely recognized as the richest woman in Nigeria. Her journey began in the fashion industry with the establishment of Supreme Stitches, a high-end fashion label. However, it was her foray into the oil and gas sector that significantly boosted her wealth. In 1993, her company, Famfa Oil, was awarded an oil prospecting license, which led to the discovery of the lucrative Agbami Oilfield, one of Nigeria's largest deepwater oil discoveries.

In addition to oil and fashion, Alakija has made substantial investments in real estate, owning properties both in Nigeria and internationally. Her philanthropic efforts are channeled through the Rose of Sharon Foundation, which supports widows and orphans by providing scholarships and business grants. Alakija's diverse portfolio and commitment to philanthropy have solidified her status as a leading figure in Nigeria's economic landscape.

2. Bola Shagaya

Net Worth: $930 million

Investments: Oil, Banking, Photography, Real Estate

Bola Shagaya is another influential businesswoman in Nigeria, known for her innovation and diversification. She began her career in the 1980s by establishing a photographic materials company, which laid the foundation for her expansive business empire. Shagaya's significant investments in the oil sector through her company, Practoil Limited, have played a crucial role in her wealth accumulation.

Shagaya also holds influential positions in the banking sector, serving on the board of several banks. Her real estate portfolio is extensive, featuring high-end properties in Nigeria and other countries. In addition to her business ventures, Shagaya is involved in various philanthropic activities, particularly in education and healthcare, making a positive impact on many lives.

3. Daisy Danjuma

Net Worth: $900 million

Investments: Oil, Pharmaceuticals, Politics

Daisy Danjuma, the wife of General Theophilus Danjuma, a retired Nigerian Army Chief and prominent businessman, has leveraged her connections to build a formidable business portfolio. She plays a significant role in South Atlantic Petroleum, an oil exploration company that has significantly contributed to her wealth.

Beyond oil, Danjuma has invested in the pharmaceutical industry, focusing on manufacturing and distribution. Her political career, including her tenure as a Senator, has also contributed to her prominence and influence in Nigeria. Danjuma is actively involved in charitable activities, particularly in education and women’s empowerment, reflecting her commitment to social causes.

4. Fifi Ejindu

Net Worth: $850 million

Investments: Real Estate, Oil and Gas, Art

Fifi Ejindu is an accomplished architect and businesswoman who has successfully merged her passion for design with astute business acumen. She is the founder of the Starcrest Group of Companies, which has interests in real estate, oil and gas, and building construction. Ejindu’s architectural expertise is evident in her high-end real estate projects, which include luxury homes and commercial properties.

In the oil and gas sector, Ejindu’s investments have yielded substantial returns, further bolstering her net worth. Additionally, she is a notable patron of the arts, supporting various cultural initiatives and artists. Her philanthropic efforts focus on education and youth development, aiming to provide opportunities for the next generation.

5. Stella Okoli

Net Worth: $800 million

Investments: Pharmaceuticals, Real Estate

Stella Okoli’s success story is one of resilience and vision. As the founder and CEO of Emzor Pharmaceutical Industries, she has built one of Nigeria’s leading pharmaceutical companies. Emzor’s affordable and high-quality products have made a significant impact on the healthcare sector in Nigeria and across Africa, helping to improve access to essential medicines.

Okoli’s investments extend to real estate, where she owns numerous commercial and residential properties. Her dedication to healthcare extends beyond her business, as she actively participates in initiatives aimed at improving access to medical services. Through the Chike Okoli Foundation, she promotes entrepreneurship and health education, honoring her late son's memory.

6. Mo Abudu

Net Worth: $700 million

Investments: Media, Entertainment, Hospitality

Mo Abudu is a trailblazer in the African media and entertainment industry. As the founder of EbonyLife TV, she has produced a range of successful television shows and movies that have garnered international acclaim. Her media empire has not only entertained but also reshaped the narrative around African stories and talent, providing a platform for African voices.

Abudu’s investments are not limited to media; she has ventured into the hospitality industry with the launch of EbonyLife Place, a luxury lifestyle and entertainment resort. Her influence extends to various charitable endeavors, particularly those focused on empowering women and supporting creative arts. Abudu’s innovative approach and commitment to excellence have solidified her position as one of Nigeria’s richest women.

7. Ngozi Okonjo-Iweala

Net Worth: $600 million

Investments: Finance, Education, Consulting

Ngozi Okonjo-Iweala is renowned globally for her expertise in finance and economics. As the former Nigerian Minister of Finance and the current Director-General of the World Trade Organization, she has played pivotal roles in shaping economic policies both in Nigeria and internationally. Her wealth is derived from her illustrious career and strategic investments in finance and consulting.

Okonjo-Iweala is a strong advocate for education and economic development. She invests in educational initiatives and institutions aimed at fostering economic growth and reducing poverty. Her consulting work, advising governments and organizations on economic policies, has further augmented her wealth and influence. Her contributions to global finance and development have earned her numerous accolades and a place among Nigeria’s richest women.

Conclusion

The stories of these seven women reflect the dynamic and diverse opportunities available in Nigeria’s economic landscape. Their journeys to wealth and success are marked by innovation, resilience, and strategic investments across various sectors. These women have not only amassed significant wealth but have also made substantial contributions to their industries and communities.

From oil and gas to pharmaceuticals, media, and finance, their investments are as varied as their backgrounds. Their philanthropic efforts further highlight their commitment to improving lives and creating opportunities for others. As we celebrate their achievements, they serve as inspiring role models for the next generation of entrepreneurs and business leaders in Nigeria and beyond.