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|Top 22 Richest People In Nigeria 2011 by htajz: 1:21am On Oct 30, 2011|
The criteria for coming up with this list
Most of you may be wondering the criteria or benchmark on which I compiled this list of richest people in Nigeria. Well, I compiled this list based on the following criteria:
1. By the value of their shares held in quoted companies.
2. The size and market share of their companies
3. The number of companies they own and its assumed value
4. The market value of their company's brand
5. The impact of their companies on the Nigerian economy
I compiled this list of richest people in Nigeria and highlighted the secret to their success because I believe we can learn a lot from them. Nigeria as a country has been branded all sort of names and a lot has been said about Nigeria; both positive and negative but I am proud that some individuals stood tall to tell the world that we have got potentials.
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 150 million inhabitants and millions of businesses; these 20 entrepreneurs diligently carved their names in the sands of time.
Instead of boring you with their success stories; I would rather extract the vital lessons learned from the life of these billionaires. If you are ready to learn, then below is a list of the Nigerian Billionaires (entrepreneurs) and top richest people in Nigeria.
Nigerian Billionaires and top 20 Richest People (Entrepreneurs) in Nigeria
1. Alhaji Aliko Dangote – founder of Dangote Group 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 Fleet
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(this guy suppose rich pass dangote by now if not of obj)
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 computers
20. Fola Adeola – GTBank
21. Chief Ade Ojo – Elizade Motors Nig LTD, Distributor of Toyota cars
22. htajz coming soon,
|Re: Top 22 Richest People In Nigeria 2011 by nanidee(f): 1:33am On Oct 30, 2011|
There are some people I believe should not be on that list, like Orji Uzor Kalu, What is his area, or what industry can be used as a benchmark for his so-called "wealth"?
By the way what is "slok"?? What do tĦey do? Who knows the business tĦey are into??
Infact, so many of the people up there don't merit iτ̅ !!
|Re: Top 22 Richest People In Nigeria 2011 by htajz: 2:15am On Oct 30, 2011|
Orji uzor kalu made his money even before becoming abia state governor , to the best of my knowlege slok I think is into shippinhg plus oil , he is among the people dat made money during oil boom and ibb regime
|Re: Top 22 Richest People In Nigeria 2011 by htajz: 2:16am On Oct 30, 2011|
Plus this is the most accurate and reasonable list I have come accross
|Re: Top 22 Richest People In Nigeria 2011 by nanidee(f): 2:35am On Oct 30, 2011|
Hmm, Considering the above criteria for coming up with these names, he should'nt be on that list (my opinion anyway)
My point is:
1) I doubt if the value of "slok's" shares in quoted companies is significant at all.
2)I doubt if the size and market value of "slok's" shares is anywhere near impressive
3) How many "credible and legitimate" company does Orji Uzor Kalu own?
4) Just like above, does or do (incase there are more than one) his company(or companies) have any brand/product with high market value?
5) Unlike the Dangotes, the Adenugas, the golden penny/flour mills people, the bankers and even the "oil merchants" who wε can all see some impact (either positively or negatively) on the Nigerian economy, what can wε actually say of Orji Uzor Kalu?
I am sorry to say this, but seeing him on that list, the only thing that comes to mind is "public funds". But then again, I stand to be corrected.
|Re: Top 22 Richest People In Nigeria 2011 by aloyemeka1: 3:05am On Oct 30, 2011|
Public funds? And you turned a blind eye on Dangote, Adenuga and Otedola?. Orji Kalu became a billionaire before becoming a governorship although it can still be through public funds. Adenuga helped IBB stash billions belonging to hungry children away; Dangote got politicaal power and Otedola's dad helped him out with his sticky fingers.
@OP,Jimoh Ibrahim should top the list followed by Ibeto , Tony Ezenna, Okoya Thomas, Coscharis and co. All other orisisi names of bank CEOS listed there are not as rich as you think.
|Re: Top 22 Richest People In Nigeria 2011 by arsenefc: 3:14am On Oct 30, 2011|
Once again Yoruba people win.
|Re: Top 22 Richest People In Nigeria 2011 by doctokwus: 3:36am On Oct 30, 2011|
I wonder d criteria u used in arriving wt names of jim ovia,ibeto,mutallab,meanwhile Obasanjo,Danjuma&IBB are not there or Odili.Pls leave dis kind of compilation to d likes of Forbes magazine who av well defined criterIa& can snoop on hidden wealth wt their large network;this ur so called list is trash
|Re: Top 22 Richest People In Nigeria 2011 by dayokanu(m): 3:46am On Oct 30, 2011|
|Re: Top 22 Richest People In Nigeria 2011 by Francis5: 3:53am On Oct 30, 2011|
Guess how they made their mone??
BTW,people like Wale Tinubu, Arumemen, Dangote, Adenuga etc front for these guys
|Re: Top 22 Richest People In Nigeria 2011 by kettykin: 4:20am On Oct 30, 2011|
@ poster the first 4 people should be removed ,
dangote is a government business man , agip , any government in power
otedola is owing banks more than he is worth , he is worthless.
Mike adenuga fronts for ibb and atiku and he could not even fund his bank very well.
Orji uzo is now a politician ,he should leave it to business men, i understand he is more into shpping oill than anything .
The ibru family should be included, nigerias genuine billionaire.
|Re: Top 22 Richest People In Nigeria 2011 by Jarus(m): 7:41am On Oct 30, 2011|
No dispute about Dangote and Adenuga being the 2 richest Nigerian businessmen.
Otedola used to be very rich few years but he's been badly hit now, reason he didnt appear in latest Forbes' list. He is a kind of emergency Billionaire. But he should still be among Top 7 or 10.
Jimoh Ibrahim is not as rich as people. He only talks his way into making people he is that rich. He owes many banks money. Top 20? Maybe though.
You underrated Jim Ovia. Jim used to be no 4 after Aliko, Otedola and Mike few years ago. With Otedola in bad times and Jim relatively stable, I'll not be surprised if Jim is now 3. In any case, Jim Ovia is not an ordinary bank MD, he is stupendously wealthy. If you own say 40% of a 3trillion worth bank,for example, then you're not just an ordinary MD.
Fola Adeola will not make top 20 richest Nigerians. Though he co-founded and still has reasonable % in GTB plus few other organizations, he is actually not the type that ammassed wealth. Seriously doubt he's among Naija's Top 20.
Oba Otudeko also has a place stamped in Top 10. Got a large chunk in FBN plus his Honeywell group that covers oil and gas etc. Plus he is quite conservative and not as aggressive as the young boys of Otedola and co, plus he is also not much into govt flirting; hence his own wealth is more stable. Any list that doesnt put him in Top 10, if not Top 7, will not find my agreement.
Sayyu Dantata is also a heavy moneybag, but sometimes people say Dangote finances him, especially with his Texaco downstream acquisition. Well, I know he should be richer than the lousy Jimoh Ibrahim. Top 20? I agree.
Old billionaires like Rasaq and Molade Okoya and Prince Adedoyin are being outshone by these small boys now, but the truth is 'if you have clothes like an old, you cant have rags like him'. The men are still deep-pocketed especially in assets all over the world and other hard, long term investments. I doubt they will still make Top 10, except may Rasaq, but there is no disputing their place in Top 25.
Your list also omits Isiyaku Rabiu of IRS airline and BUA group. He should make Top 20 too.
|Re: Top 22 Richest People In Nigeria 2011 by Ad4(m): 8:41am On Oct 30, 2011|
We as Nigerian youths shld learn how to encourage ourselves and do the right things.Little wonder there's high rate of kidnapping and corruption.If men like Orji Kalu and Adenuga even Otedola can make that list then why discourage Boko Haram.We're very informed to know that Orji Kalu recked Abia state there was no sign of real development in Abia state,Aba in particular during his time.We'll also know that Otedola is owing banks more than he worths,recking bank PHB in particular.We'll know that Adenuga's a channel of theft for politicians and others.Even Dangote was used by formal military dictators to get his wealth.How can only one man be the sole importer of a particular country,when Ibeto was competing with him he used the mechinery of government to stop Ibeto.Pls,as youths,let us encourage good people and shame evil people
|Re: Top 22 Richest People In Nigeria 2011 by olawalebabs(m): 8:52am On Oct 30, 2011|
Dokpesi is not suppose to be on the list
|Re: Top 22 Richest People In Nigeria 2011 by KnowAll(m): 9:18am On Oct 30, 2011|
If you own say 40% of a 3trillion worth bank,for example, then you're not just an ordinary MD.
J[b]im Ovia was left off the hook. I pesonally do not see what Eratus and Madame Ibru did that Jim Ovia did not do. Let us just say Sanusi's selective justice made him keep his underhanded wealth but yet denied Eratus and Madame Ibru same. The Banking sector all had the same modus operendi at the hieght of the banking crisis, someone had to be made scapegoat. Sanusi made Jim keep his ill gotten wealth. How can MD have 40% of a Bank that is conflict of interrest.
This other fellows I doubt they are multi billionaires .[/b]
1. Dele Fajamirokun - this publicity would probably open bank Manager's doors to him thus
2. Orji Kalu- Let him come out and tell us where he made his money from.
4. And most of those former MD OF bANKS Like Ade Adelola
5. Some of those old money bags might be slipping too except if they have prime properties in prime areas in London, New York and Dubai which I doubt.
I belive Jimoh Ibrahim is really an up and coming billionaire that should inspire many young, people. I belive he is a very, very wealthy man.
|Re: Top 22 Richest People In Nigeria 2011 by Abagworo(m): 10:09am On Oct 30, 2011|
Be careful how you say the truth for you might be haunted.Only a fool does not know that your list is the true and most accurate one.Those 5 men are wealthier than the combination of other 149,999,995 Nigerians.
|Re: Top 22 Richest People In Nigeria 2011 by Jarus(m): 10:11am On Oct 30, 2011|
Know all, I'm not here to argue about Sanusi, so let's reserve that till another time.
Meanwhile, I also disagree with Muttallab making Top 20. He is rich no doubt, having been in banking sector since 70s, from bank MD to Chair, but I strongly doubt he's wealthy enough to make Top 20.
Also, I think we're being unfair to Mike Adenuga here. Yes, he may have some powerful backing but in a capitalist economy, you can't do without that else your business will ruin. But you must have worked hard enough to get attention of a powerful govt. I will not criminalize Adenuga even if it's true he flirts with IBB, which I believe is exaggerated. Dangote also flirts with Obj and co but when he came to Lagos in 1978 with his grand dad's loan of 500,000 and became a billionaire 20 years later, he never knew Obj then. Give it to these men.
|Re: Top 22 Richest People In Nigeria 2011 by freecocoa(f): 11:27am On Oct 30, 2011|
How come I'm not seeing my name on that list?Op better modify your post.
|Re: Top 22 Richest People In Nigeria 2011 by Cupidkc(m): 11:42am On Oct 30, 2011|
I have no problem with the list,is just the ranking/arrangement that i dont support.
I think Ibeto and Ifeanyi uba should come up the list,then Cosmos and Jimoh should go down.
, Just saying people,
|Re: Top 22 Richest People In Nigeria 2011 by yokiti: 12:13pm On Oct 30, 2011|
Remove the money made from government through corrupt means and padi padi you will see that these people's wealth is not as much as procalimed!
|Re: Top 22 Richest People In Nigeria 2011 by Misterpaul(m): 12:18pm On Oct 30, 2011|
Ermmm, please,how do i get connection to the men,
|Re: Top 22 Richest People In Nigeria 2011 by Misterpaul(m): 12:20pm On Oct 30, 2011|
Ermmm, Please,how i fit get connection to all these men o,
|Re: Top 22 Richest People In Nigeria 2011 by cold(m): 12:21pm On Oct 30, 2011|
How come you disingenuously left out David Oyedepo & E A Adeboye?
|Re: Top 22 Richest People In Nigeria 2011 by Dgunnerz(m): 12:41pm On Oct 30, 2011|
Pastor Chris and Prophet T.B Joshua
|Re: Top 22 Richest People In Nigeria 2011 by stagger: 12:48pm On Oct 30, 2011|
That is because these four men do not go about seeking recognition for what they have, neither do they go about lobbying for national honours so they will known by it.
That is why they are not on that list.
In contrast, the list you mentioned contains many people who either stole public funds, or were close to those in power who gave them unhealthy business advantage as a matter of policy. This is where you find Dangote, Orji Uzor Kalu, Rochas Okorocha, Mike Adenuga, etc. Only few on that list actually merit it.
for example, I do not see why Dokpesi who is always owing his workers four, five, six months pay at a go, or people like Otedola and Jimoh Ibrahim who are owing banks so much money, should be on that list.
|Re: Top 22 Richest People In Nigeria 2011 by nanidee(f): 12:54pm On Oct 30, 2011|
^^ I think you have accurately said iτ̅ all.
|Re: Top 22 Richest People In Nigeria 2011 by yokiti: 12:57pm On Oct 30, 2011|
Without the national cake/ largasse; I believe most of these men may be as poor as the church rats.
|Re: Top 22 Richest People In Nigeria 2011 by begwong: 1:00pm On Oct 30, 2011|
@op,can u pls quote estimated value of their worth in naira terms!
|Re: Top 22 Richest People In Nigeria 2011 by Nobody: 1:14pm On Oct 30, 2011|
The list is a complete joke. I even thought it would have been compiled (along with estimated net-worths) by a credible Nigerian magazine like Encomium or so. . .only to find out it was a haphazard name-dropping exercise by an uninformed person. Someone should please take this off the front page. Dokpesi? Orji kalu? Please.
|Re: Top 22 Richest People In Nigeria 2011 by nanidee(f): 1:17pm On Oct 30, 2011|
Sorry to deviate from the topic, but encomium is hardly the magazine to expect to get any credible information. Not in anyway better than city people. All tĦey know is gossip and gossip, with no reliable source.
|Re: Top 22 Richest People In Nigeria 2011 by danidon: 1:18pm On Oct 30, 2011|
One of the people listed in your billionaire group today Is currently technically insolvent. Am con just announced that the guy is owing banks over =N=200b and his asset worth about =N=120b. Kindly do your arithmetic and judge by yourself
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