Meet The 4 Richest Men In Nigeria According To Forbes 2025
Nigeria is home to some of Africa’s most influential business moguls who have built multi-billion-dollar empires across various industries. According to Forbes' 2025 rankings, the four wealthiest Nigerians are Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola. Their wealth stems from industries such as manufacturing, telecommunications, and oil.
This article takes a closer look at their businesses, sources of wealth, and contributions to Nigeria’s economy.
1. Aliko Dangote – Net Worth: $23.9 Billion
Aliko Dangote remains Nigeria’s and Africa’s richest man, with a net worth of $23.9 billion. His vast fortune comes from the Dangote Group, a multinational conglomerate with interests in cement, sugar, salt, and oil refining.
How He Made His Fortune
Dangote started his business journey in 1977 by trading commodities like sugar, rice, and cement. Over time, he expanded into manufacturing, establishing Dangote Cement, which is now Africa’s largest cement producer.
His latest and most ambitious project is the Dangote Refinery, a multi-billion-dollar oil refinery in Lagos. This refinery is set to reduce Nigeria’s dependence on imported petroleum products and boost the economy.
Why Dangote Remains the Richest
- Owns Dangote Cement, which produces 45.6 million metric tons annually
- Expanded into sugar, flour, and oil refining
- Built Africa’s largest refinery, which will make Nigeria self-sufficient in fuel production
Dangote’s business empire and strategic investments keep him at the top of Africa’s billionaire rankings.
2. Mike Adenuga – Net Worth: $6.7 Billion
Mike Adenuga, the second richest man in Nigeria, has a net worth of $6.7 billion. He made his fortune in telecommunications and oil production.
How He Made His Fortune
Adenuga is the founder of Globacom (Glo), Nigeria’s second-largest telecommunications company, which has millions of subscribers across West Africa. He also owns Conoil Producing, one of Nigeria’s largest indigenous oil exploration companies.
Why Adenuga is a Billionaire
- Founder of Globacom, a leading telecom brand in Nigeria
- Owns Conoil Producing, which has lucrative oil exploration contracts
- Invests in real estate and banking, adding to his wealth
Adenuga’s ability to diversify his investments has kept him among Nigeria’s richest for decades.
3. Abdulsamad Rabiu – Net Worth: $5.9 Billion
Abdulsamad Rabiu, the founder of BUA Group, has a net worth of $5.9 billion. His business empire focuses on cement, sugar, and agriculture.
How He Made His Fortune
Rabiu started by importing iron, steel, and chemicals in 1988. He later ventured into manufacturing, founding BUA Cement, which has grown into one of Nigeria’s top cement producers.
Why Rabiu is One of Nigeria’s Richest
- Founder of BUA Group, a major player in cement production
- Expanded into sugar refining, flour milling, and infrastructure development
- Owns BUA Cement, which rivals Dangote Cement in market share
His investments in Nigeria’s industrial sector have played a crucial role in reducing import dependency and boosting local production.
4. Femi Otedola – Net Worth: $1.8 Billion
Femi Otedola, a seasoned businessman, has a net worth of $1.8 billion. His wealth comes from oil, power generation, and stock market investments.
How He Made His Fortune
Otedola was the former chairman of Forte Oil, one of Nigeria’s leading petroleum marketing companies. He sold his majority stake in 2019 and shifted focus to power generation, investing in Geregu Power Plc.
Why Otedola is a Billionaire
- Former owner of Forte Oil, a major player in Nigeria’s oil industry
- Now owns Geregu Power Plc, a top electricity producer
- Holds significant shares in Nigerian banks and telecom firms
Otedola’s strategic investments and ability to identify profitable ventures have kept him among Nigeria’s wealthiest men.
Final Thoughts
The success of Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola highlights the entrepreneurial spirit in Nigeria. These business moguls have not only built multi-billion-dollar empires but have also contributed to Nigeria’s economic growth by creating jobs and driving industrialization.
Their stories offer valuable lessons for aspiring entrepreneurs—success requires vision, perseverance, and strategic investments.
Who do you think will be the next Nigerian billionaire? Let us know in the comments!
