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Forbes Top 10 Richest Men in Nigeria in 2022

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In this article, we will discuss the Forbes top 10 richest men in Nigeria in 2022. The richest men in Nigeria in 2022 are people of class and calibre. They own multi-million dollar conglomerates and sit on the board of directors of various high-profile multinational companies both in Nigeria and abroad.

A big thanks to Forbes and other prominent websites that publish updates about these eminent people, we have enough information about the top richest people in Nigeria 2022 and what they do.

Top 10 Richest Men in Nigeria 2022

The table below contains the names, net worth, age, and the primary source of wealth of Forbes top 10 richest men in Nigeria for the year 2022.

Rank Name Net worth Age Source of Wealth
1 Aliko Dangote $14 Billion 64 Cement and Sugar
2 Mike Adenuga $7.9 Billion 68 Telecommunication, Oil and Gas
3 Femi Otedola  $5.9 Billion 59 Oil and Gas
4 Arthur Eze  $5 Billion 73 Oil and Gas
5 Abdulsamad Rabiu $3.7 Billion 61 Cement and Sugar
6 Cletus Ibeto $3.5 Billion 69 Automobile, Real Estate
7 Orji Uzor Kalu $3.2 Billion 61 Furniture, Publishing
8 ABC Orjiakor $1.2 Billion 63 Oil and Gas
9 Jimoh Ibrahim $1 Billion 54 Insurance, Oil and Gas, Real Estate
10 Tony Elumelu $900 Million 58 Banking

1. Aliko Dangote ($14 billion)

Forbes Top 10 Richest Men in Nigeria in 2022

The Richest Man in Nigeria and Africa, Aliko Dangote

Aliko Dangote is the richest man in Nigeria and Africa at large (2022 Forbes List), with a net worth of $14 billion.

Dangote was born 62 years ago and graduated from Al-Azhar University in Egypt with a Bachelor of Arts and Science. His primary source of wealth is Cement and Sugar; producing food items and building materials. His company’s products include Dangote Pasta, Sugar, Flour, Salt, and Cement. All these companies trade publicly on the Nigerian Stock Exchange, and their stakes in them are huge.

His holding company has a stake of shares worth 85 % of Dangote cement, which is a public liability company. This company operates in ten African countries and produces 45.6 million metric tons of Cement yearly.

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To solve Nigeria’s constant fuel crisis, three years ago, he started the construction of the Dangote Refinery. When completed, it will be the largest oil refinery in the world. This will lead to a significant rise in his net worth.

2. Mike Adenuga ($7.9 billion)

Forbes Top 10 Richest Men in Nigeria in 2022

CEO of Globacom, Mike Adenuga

The second individual on the list of Forbes’ top 10 richest men in Nigeria 2022 is Mike Adenuga. According to Forbes, his net worth is $7.9B, with his real net worth put at $5.5B as of April 4, 2020.

Mike Adenuga is the CEO of Globacom – Nigeria’s second-largest telecommunication provider after MTN. Globacom also has a presence in Benin, Ivory Coast and Ghana. He owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company). He made his fortune in the oil business and telecommunications.

3. Femi Otedola ($5.9 billion)

Forbes Top 10 Richest Men in Nigeria in 2022

Aside from Dangote, Femi Otedola is the next person Nigerian hip hop musicians tend to use as a symbol of how wealthy they want to be. He is the third on the list of Forbes top 1o richest men in Nigeria in 2022.

Indeed, Femi Otedola is a wealthy man considering his mouth-watering net worth of $5.9 billion. Born on the 4th of November 1962 in Ibadan, Femi Otedola is a well-known CEO, entrepreneur and philanthropist. He is the father of a famous Nigerian disc Jockey; DJ Cuppy.

4. Arthur Eze ($5 billion)

Arthur Eze

Richest man in Anambra State, Arthur Eze

The fourth person on the list of Forbes richest men in Nigeria in 2022  is Arthur Eze with a net worth of $5 billion. He is the owner of Atlas Oranto Petroleum, and he is also from a royal family in Anambra State, Nigeria.

Additionally, Arthur Eze is the richest person in Anambra State.

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5. Abdulsamad Rabiu ($3.7 billion)

Forbes Top 10 Richest Men in Nigeria in 2022

Abdul Samad Rabiu is a Nigerian billionaire, entrepreneur and seasoned industrialist well known for his expertise in commodity trading. He is the founder and Chief Executive Officer of BUA Group, a Nigerian conglomerate with an interest in agriculture, infrastructure, manufacturing, logistics, and port operations.

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Abdul Samad Rabiu Net worth: Abdulsamad Rabiu’s net worth is estimated at a whopping  $3.7 billion.

His father was a prosperous businessperson, who willed enormous Land to Rabiu. Rabiu attended Capital University, Ohio, in the USA and started his own business in 1988 by importing iron, steel, and chemicals.

Abdulsamad Rabiu bought the Nigeria Oil Mills and is the main shareholder of BUA PLC, a publicly-traded company. After a merger of the Cement Company of Northern Nigeria and his private company called Obu, he now has 98.5% shares in the BUA PLC.

6. Cletus Ibeto($3.5 billion)

Chief Cletus Ibeto

The sixth person on our list of Forbes top 10 richest men in Nigeria in 2022 is Cletus Ibeto. From an unprecedented beginning as a motor parts dealer, Cletus Ibeto is now one of the richest men in Nigeria.

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A billionaire, he is the owner of one of the largest conglomerates, The IBETO Group. Cletus Ibeto sits as chairman as well as the Founder of IBETO Group, and the company is involved in real estate, banking and finance, cement production, automotive coupling, Petrochemical etc.

7. Orji Uzor Kalu ($3.2 billion)

Orji Uzor Kalu

Orji Uzor Kalu is a Nigerian businessman, entrepreneur and politician. He is the seventh person on our list of Forbes top 10 richest men in Nigeria in 2022.

More so, Orji Kalu is the chairman and founder of SLOK Holding and the Daily Sun and New Telegraph newspapers in Nigeria. He also served as the Executive Governor of Abia state from 29 May 1999 to 29 May 2007.

With a net worth estimated at $3.2 billion, we can agree that Orji Uzor Kalu is indeed a stupendously wealthy man.

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8. ABC Orjiakor ($1.2 billion)

Forbes Top 10 Richest Men in Nigeria in 2022

ABC Orjiakor made his wealth from the oil and gas sector. He is the Chairman and co-founder of SEPLAT, an independent gas and oil company in Nigeria. He once worked as an Orthopedic and Trauma Surgeon at Lagos Teaching Hospital and National Orthopedic Hospital.

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ABC ORJIAKOR Net worth: ABC Orjiakor is one of the richest men in Nigeria with a net worth estimated at $1.2 billion

9. Jimoh Ibrahim( $1 billion)

Jimoh Ibrahim

Moving further on the list of Forbes top 10 richest men in Nigeria in 2022 is Jimoh Ibrahim. He is another rich businessman to reckon with in Nigeria. He was born in a remote village in Ondo State on the 24th of February 1967 to a local fish seller mother and a bricklayer father.

Jimoh Ibrahim is the CEO of Global Fleet Group. He is also the director at the prestigious Nicon group which has a number of subsidiaries. They include Nicon Academy, Nicon Airways, Nicon Energy, Nicon Hotels, Nicon Insurance, Nicon Investment, Nicon PFA, Nicon properties, Nicon Trustee, Nicon United Kingdom, and Nicon Sao Tome.

10. Tony Elumelu ($900 million)

Forbes Top 10 Richest Men in Nigeria in 2022

The last individual on the Forbes top 10 richest men in Nigeria in 2022 is Tony Elumelu. He is a well-respected man in Nigeria, particularly amongst the youths and business owners.

He is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. Tony Elumelu is an economist, philanthropist and entrepreneur.

Elumelu trained as an economist from the then Bendel State University Ekpoma and is also an Alumnus of the Harvard Business School.

He started his banking career from the now-defunct Allstates Trust Bank owned by Ebitimi Banigo and rose through the ranks to the top. He later led a group to acquire the then Standard Trust Bank and merged it with UBA in 2005.

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