At a Glance
- Aliko Dangote leads with a $23.2 billion fortune, anchored in cement, sugar, and Africa’s largest refinery, reshaping Nigeria’s industrial future and regional trade balance.
- Tope Awotona turned $200,000 in savings into Calendly, a $3 billion unicorn, cementing his place as one of America’s few Black tech billionaires.
- Abdul Samad Rabiu built BUA Group into a manufacturing empire, launching billion-dollar IPOs and Nigeria’s largest private security fund with a $23.8 million donation.
Nigeria’s top seven self-made billionaires didn’t rise on the wings of inheritance—they carved their wealth from scratch, harnessing grit, ingenuity, and a sharp eye for opportunity.
From manufacturing and energy to tech and finance, they’ve built empires that transcend Nigeria’s borders, reshaping industries and elevating Africa’s place in the global economy.
Aliko Dangote, Africa’s richest man, leads the pack with a $23.2 billion fortune anchored in cement, sugar, and oil refining. Meanwhile, telecom titan Mike Adenuga transformed mobile access in Nigeria by launching Globacom in 2003—at a time when SIM cards cost as much as N25,000 ($250) and mobile phones were a luxury—after overcoming steep regulatory challenges.
Abdul Samad Rabiu has crafted a $4.7 billion legacy in manufacturing and real estate. From Wall Street to airport takeovers, Adebayo Ogunlesi commands $2.2 billion through global infrastructure deals.
Femi Otedola and Tope Awotona each hold $1.4 billion—one through oil and energy, the other via tech success with Calendly. Folorunso Alakija, Nigeria’s richest woman, amassed $1 billion through oil, real estate, and fashion.
These individuals defy stereotypes, showing that wealth creation in Nigeria isn’t just possible—it’s being done at scale. Their journeys reveal not only personal ambition but also the rising influence of Nigerian entrepreneurship on the world stage.
They’re proof that with vision, resilience, and bold execution, it’s possible to build billion-dollar fortunes from the ground up in Africa.
- Aliko Dangote
Net Worth: $23.2 billion
Industry: Manufacturing, Infrastructure, Energy and Diversified Investments
Aliko Dangote, Nigeria’s richest man, built a vast industrial empire through Dangote Group, spanning cement, sugar, flour, and oil refining. His 86.81percent stake in Dangote Cement—Africa’s top producer—anchors his $23.2 billion Forbes-estimated net worth. In 2024, he launched the $20 billion Dangote Petrochemical Complex, featuring the world’s largest single-train refinery (650,000 barrels/day), poised to transform Nigeria’s fuel supply and trade balance. His influence cuts across banking, infrastructure, and manufacturing, positioning him as a central figure in Africa’s economic rise. Notably, Forbes excludes his refinery stake—suggesting his actual wealth far exceeds official estimates. Dangote’s ambitions continue to reshape Africa’s industrial future. - Mike Adenuga
Net Worth: $6.2 billion
Industry: Telecommunications, Oil & Gas, Real Estate, Banking, Construction
Mike Adenuga, Nigeria’s second-richest man, built his fortune through bold ventures in telecoms and oil. He founded Globacom, the country’s second-largest telecom operator with nearly 60 million subscribers, and led the $1.5 billion Glo-1 submarine cable project, enhancing internet access across West Africa. In energy, he owns Conoil Producing, which pumps 30,000 barrels daily and controls six key oil blocks in the Niger Delta. His empire spans Conoil Plc, real estate via Cobble-Stone Properties, banking through Sterling Financial Holding, and a 25.1 percent stake in Julius Berger Nigeria Plc, reinforcing his deep imprint on Nigeria’s economy. - Abdul Samad Rabiu
Net Worth: $4.7 billion
Industry: Manufacturing, Infrastructure, Mining, and Real Estate
Abdul Samad Rabiu has built BUA Group into one of Africa’s leading industrial powerhouses. His fortune stems mainly from BUA Cement—Nigeria’s second-largest producer—and BUA Foods, a major player in consumer goods. In 2020, he merged Obu Cement and Cement Co. of Northern Nigeria to form the $2.1 billion BUA Cement Plc, later listing BUA Foods as well. His reach spans ports, mining, steel, and real estate. A notable philanthropist, Rabiu launched Nigeria’s largest private security fund in 2022 with a $23.8 million donation and supports education across Africa through his ASR Africa initiative. His impact is national and continental. - Adebayo Ogunlesi
Net Worth: $2.2 billion
Industry: Infrastructure, Private Equity
Adebayo Ogunlesi, a Nigerian-born investment banker, made his fortune in infrastructure and private equity when he co-founded Global Infrastructure Partners (GIP), a firm that managed $100 billion in assets before its $12.5-billion acquisition by BlackRock in 2024. Under his leadership, GIP acquired London Gatwick, London City, and Edinburgh airports, along with stakes in ADNOC Gas Pipelines, Tower Vision India, and Atlas Renewable Energy. Ogunlesi also serves on Goldman Sachs’ board as lead director, further cementing his influence in global finance. - Femi Otedola
Net Worth: $1.4 billion
Industry: Oil and Energy
Femi Otedola, a key figure in Nigeria’s financial and capital markets, built his fortune through energy and banking. He owns 78.64% of Geregu Power Plc—the first power firm listed on the NGX—and holds a 13.16% stake in First Bank of Nigeria Holdings. His wealth stems from ventures including Zenon Petroleum, F.O. Properties, and past interests in oil and shipping. Forbes values his listed assets at $1.7 billion, but private holdings—spanning luxury properties in Lagos, Dubai, London, and Monaco—suggest more. A noted philanthropist, he donated $14 million to Save the Children UK in 2019, Nigeria’s largest single cash donation. - Tope Awotona
Net Worth: $1.4 billion
Industry: Technology
Tope Awotona built his fortune through Calendly, a scheduling software company valued at $3 billion. Investing $200,000 of his life savings, he turned Calendly into a global tech unicorn. His majority stake in Calendly accounts for most of his wealth, estimated at $1.4 billion. Awotona has also invested in startups like Vonza (a business platform for entrepreneurs) and Givebutter (a fundraising platform that has processed over $300 million in donations). As one of only two Black tech billionaires in the U.S., he advocates for diversity in tech. - Folorunsho Alakija
Net Worth: $1 billion
Industry: Oil & Gas, Real Estate, Fashion, Printing
Folorunso Alakija, Nigeria’s richest woman, built her wealth through Famfa Oil, which holds a lucrative stake in the Agbami Oilfield—one of Nigeria’s largest deepwater projects. She also owns prime real estate via Dayspring Property, including Famfa Towers in Lagos. Alakija began her rise in the 1980s with fashion brand Supreme Stitches, later Rose of Sharon. Beyond business, she champions philanthropy through the Rose of Sharon Foundation and Flourish Africa, supporting widows and female entrepreneurs. Once worth over $1 billion, her current estimated net worth stands at $900 million, largely driven by oil and property investments.
