Nigeria is home to some of Africa’s most brilliant business minds—visionaries who have built empires in oil, tech, banking, real estate, and retail. Despite economic challenges, these entrepreneurs have continued to innovate, expand across borders, and inspire the next generation of hustlers and founders.
In this article, we highlight 15 of the richest entrepreneurs in Nigeria, showcasing their industries, estimated net worth, and the businesses that built their wealth.
Whether you’re just starting a small hustle or managing a growing business, these stories prove that wealth is built with vision, strategy, and consistency. And as you grow, tools like ProInvoice can help you issue branded invoices, track client payments, and stay organized like a pro.
1. Aliko Dangote
Net Worth: $13.5 Billion+
Industry: Manufacturing (Cement, Sugar, Refinery)
Company: Dangote Group
Dangote is the richest man in Africa. He built his wealth from trading cement, sugar, flour, and recently launched Africa’s largest oil refinery—Dangote Refinery. His empire is a symbol of Nigerian entrepreneurial excellence.
2. Mike Adenuga
Net Worth: $6.5 Billion+
Industry: Telecommunications & Oil
Companies: Globacom, Conoil
Adenuga is the founder of Globacom, Nigeria’s second-largest telecom provider. He also owns stakes in the oil and gas industry through Conoil. Adenuga is known for building quietly but powerfully.
3. Abdulsamad Rabiu
Net Worth: $5.7 Billion
Industry: Cement & Manufacturing
Company: BUA Group
Rabiu’s BUA Group is a major player in cement, flour milling, sugar, and most recently, oil refining. His company competes directly with Dangote Group and continues to expand across West Africa.
4. Tony Elumelu
Net Worth: $800 Million+
Industry: Banking, Investments
Companies: Heirs Holdings, UBA, Transcorp
Tony is a champion of African entrepreneurship. Through the Tony Elumelu Foundation, he funds thousands of startups annually. His group owns stakes in banking, energy, and hospitality.
💡 Want to grow like Tony? Start small, scale smart, and use ProInvoice to manage your business transactions professionally.
5. Femi Otedola
Net Worth: $1.2 Billion (est.)
Industry: Energy & Investments
Companies: Geregu Power, Former Forte Oil
Once known for oil & gas, Otedola sold his shares in Forte Oil to focus on power and investments. He recently became the Chairman of FBN Holdings, one of Nigeria’s top banks.
6. Folorunsho Alakija
Net Worth: $1 Billion+
Industry: Oil, Fashion, Real Estate
Company: Famfa Oil
One of Africa’s richest women, Alakija built her fortune in fashion and later struck gold in oil. She’s a role model for women entrepreneurs across the continent.
7. Mitchell Elegbe
Net Worth: Estimated in hundreds of millions
Industry: FinTech
Company: Interswitch
Elegbe founded Interswitch, one of Nigeria’s largest digital payments companies (Verve, Quickteller). His startup was one of the first African tech unicorns after Visa acquired a minority stake.
8. Mitchell Elegbe
Net Worth: Estimated in hundreds of millions
Industry: FinTech
Company: Interswitch
Elegbe founded Interswitch, one of Nigeria’s largest digital payments companies (Verve, Quickteller). His startup was one of the first African tech unicorns after Visa acquired a minority stake.
9. Iyinoluwa Aboyeji
Net Worth: $50–100 Million (est.)
Industry: Tech & Investments
Companies: Flutterwave (co-founder), Future Africa
Iyin co-founded Flutterwave and Andela—two billion-dollar tech startups. Now, through Future Africa, he funds African startups with capital and mentorship.
10. Leo Stan Ekeh
Net Worth: $500 Million (est.)
Industry: ICT, eCommerce
Company: Zinox Technologies
Ekeh built Zinox, Nigeria’s first certified computer manufacturing company, and owns Konga.com, one of the biggest e-commerce platforms in Nigeria.
11. Oba Otudeko
Net Worth: $650 Million+
Industry: Conglomerate
Company: Honeywell Group
Otudeko has investments in food processing, real estate, and oil. He was once the chairman of FBN Holdings and has helped shape Nigeria’s industrial landscape.
12. Jason Njoku
Net Worth: $40–60 Million
Industry: Media & Tech
Company: IROKOtv
Jason is one of the earliest successful Nigerian internet entrepreneurs. He built IROKOtv—a Netflix-style platform for Nollywood movies.
13. Sijibomi Ogundele
Net Worth: $50 Million+
Industry: Real Estate
Company: Sujimoto Construction
Known for luxury buildings in Lagos, Sijibomi is one of the youngest property moguls in Nigeria. He’s widely admired for his bold marketing and high-end brand.
14. Linda Ikeji
Net Worth: $30–50 Million
Industry: Media & Blogging
Platform: Linda Ikeji Blog
Linda turned her blog into a full media empire with her own streaming platform, Linda Ikeji TV, and an events center. She’s one of the most successful female digital entrepreneurs in Africa.
15. Sim Shagaya
Net Worth: $30–50 Million
Industry: Tech, Education
Companies: uLesson, Konga (former CEO)
Sim built Konga and now runs uLesson, a digital learning platform for African students. He’s passionate about using technology to solve education problems in Nigeria.
Key Lessons from Nigeria’s Richest Entrepreneurs
These billionaires and multi-millionaires didn’t wait for perfect conditions. They:
✅ Solved big problems in Nigeria
✅ Started small and scaled intentionally
✅ Used tech and systems to grow
✅ Built trust with investors and customers
✅ Focused on long-term value, not just quick profit
And you can apply the same principles—even as a small business or freelancer.
One tool that helps? ProInvoice. With it, you can:
- Send professional invoices
- Track all your payments
- Get paid faster
- Build client trust
Even Dangote started with a small trading business. What’s stopping you?
Conclusion
These 15 entrepreneurs are proof that wealth in Nigeria is possible through bold vision, strategic execution, and relentless consistency. Whether you’re in tech, fashion, service, or manufacturing, your hustle can grow into a brand.
You may not be a billionaire (yet), but you can start behaving like one—with structure, systems, and smart tools like ProInvoice. Invoice like a pro. Track your finances. Grow your business with clarity.
