Out of the 2,153 people who made it to the 2019 FORBES list of the World’s Billionaires, 13 of them are black, and 3 of them are Nigerians
In this post, we have compiled the list of billionaires in Nigerian and their net worth.
Cement tycoon Aliko Dangote is the richest black person in the world with a fortune estimated at $10.9 billion. He is closely followed by Nigerian oil and telecoms mogul Mike Adenuga.
See the list of the top 4 Billionaires in Nigeria below.
Billionaires in Nigeria in 2019
Aliko Dangote, $10.9 billion
Sugar, Cement, Flour
The Cement and commodities tycoon retains his title as the world’s richest black man this year. After building his fortune in sugar, flour and cement, the Nigerian tycoon is embarking on his most ambitious project to date- a private oil refinery in Nigeria which will have a refining capacity of 6500,000 barrels a day and is expected to reduce Nigeria’s dependence on oil imports.
Dangote started out in business more than 3 decades ago by trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle and went on to build the Dangote Group, the largest industrial conglomerate in West Africa and the richest company in Nigeria.
Mike Adenuga, $9.1 billion
Nigerian-born Mike Adenuga, the world’s second richest black person, built his fortune in oil and mobile telecoms. His Conoil Producing Company was one of the first indigenous Nigerian companies to be granted an oil exploration license in the early 90s. The company is the operator of six blocks in the Niger Delta and also owns a25% stake in the Joint Development Zone (JDZ) Block 4.
He is also the founder and sole owner of Globacom, a Nigerian mobile phone network that has more than 40 million subscribers in Nigeria and neighboring African countries. His property company, Cobblestone Properties, owns hundreds of prime residential and commercial property all over Nigeria.
Folorunsho Alakija, $1.1 billion
Nigeria’s first female billionaire is the founder of Famfa Oil, a Nigerian company that owns a substantial participating interest in OML 127, a lucrative oil block on the Agbami deep-water oilfield in Nigeria. Alakija started off as a secretary in a Nigerian merchant bank in the 1970s, then quit her job to study fashion design in England.
Upon her return, she founded a Nigerian fashion label that catered to upscale clientele, including Maryam Babangida, wife to Nigeria’s former military president Ibrahim Babangida.
Abdul Samad Rabiu, $1.6 Billion
AbdulSamad Isyaku Rabiu CON is a Nigerian businessman. His father, late Khalifah Isyaku Rabiu was one of Nigeria’s foremost industrialists in the 1970s and 1980s. Abdul Samad is the founder and chairman of BUA Group, a Nigerian conglomerate with interests in manufacturing, infrastructure and agriculture with a revenue in excess of $2.5 billion. He is also the chairman of Nigerian Bank of Industry (BOI).