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Thursday 21st October 2021,
Hope for Nigeria

Dangote Now World’s 43rd Richest Man | Top 21 Richest Nigerian Billionaires

With a net worth of $16.1bn as of March 2013With a net worth of $16.1bn as of March 2013

Dangote Now World’s 43rd Richest Man | Top 21 Richest Nigerian Billionaires – With a net worth of $16.1bn as of March 2013, the President, Dangote Group, Alhaji Aliko Dangote, has moved up in the latest world richest ranking to number 43 from 76 in 2012.


According to the list which was released on Monday by Forbes, Dangote and the Chairman of Globalom, Dr. Mike Adenuga were the only Nigerians on the list.



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Dangote, 55, however, retained his position as the richest man in Africa and the richest among manufacturers in the world with a net worth of $16.1bn.

Adenuga, 59, on the other hand, ranked 269 on the list with a net worth of $4.7bn.

The world billionaires, list presented Carlos Slim Helu, a Mexican as the world richest man with a net worth of $73bn, while Bill Gates of United States came second with a net worth of the $67bn.

Others are Armancio Ortega of Spain ($57bn); Warren Buffet, United States ($53.5bn); and Larry Ellison of US with $43bn net worth, coming third, fourth and fifth, respectively.

Forbes said, “To compile net worths, we value individuals’ assets, including stakes in public and private companies, real estate, yachts, art and cash – and account for debt.

“We attempt to vet these numbers with all billionaires. Some cooperate; others don’t. We also consult an array of outside experts in various fields.”

The past year has been eventful for Dangote. In October, he sold off a controlling stake in his flour milling company to Tiger Brands of South Africa and pocketed $190m in cash.

In February, his Dangote Sugar Refineries acquired a 95 per cent stake in Savannah Sugar in a bid to maintain its dominant position in the Nigerian sugar industry.

Dangote started building his fortune more than three decades ago when he began trading in commodities like cement, flour and sugar with a loan he received from his maternal uncle.

He delved into full production of these items in the early 2000s and went on to build the Dangote Group, West Africa’s largest publicly-listed conglomerate, which now owns sugar refineries, salt processing facilities and Dangote Cement.

Top 21 Richest Nigerian Billionaires

Very few Nigerians have made the Forbes list of richest people in the world the reason been that Forbes estimates the wealth of individuals and rank them based on the value of shares they have in quoted companies (companies listed on the stock exchange).


The value of their shares held in quoted companies, the size and market share of their companies, the number of companies they own and its assumed value, the market value of their company’s brand and the impact of their companies on the Nigerian economy.

Despite the harsh terrain and business challenges involved with starting a business in Nigeria; the successful entrepreneurs listed below held their ground and fought their way to the top.

In a country with a population of over 160 million inhabitants and millions of businesses; these 20 entrepreneurs diligently carved their names in the sands of time.

Check out the list below.

1. Alhaji Aliko Dangote – founder of Dangote Group, Richest man in Africa and Richest black man in the world

2. Mike Adenuga –    Conoil, Equatorial Trust Bank, Globacom

3. Femi Otedola – ZENON Oil and Gas

4. Orji Uzor Kalu – Slok Group

5. Cosmos Maduka – Coscharis Group

6. Jimoh Ibrahim – Nicon Insurance, Global Flee

7. Jim Ovia – Zenith Bank, Visafone

8. Pascal Dozie – MTN Nigeria, Diamond Bank

9. Oba Otudeko – Honeywell Group Nigeria

10. Alhaji Sayyu Dantata – MRS Group

11. Umaru Abdul Mutallab – former Chairman First Bank Plc, Mutallab Group

12. Prince Samuel Adedoyin – Doyin Group

13. Dele Fajemirokun – Chaiman Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards etc.

14. Chief Cletus Ibeto – Ibeto Group

15. Raymond Dokpesi – Daar Communication, AIT,

16. Tony Ezenna – Orange Group

17. Chief Molade Okoya Thomas – Chairman CFAO Nig and other six french companies

18. Ifeanyi Ubah – Capital oil and gas

19. Leo Stan Ekeh – Zinox Computer

20. Fola Adeola – GTBank

21. Chief Ade Ojo –  Elizade Motors Nig LTD, Distributor of Toyota cars

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