Another big player in the oil business, Total Nigeria Plc started as a private company on June 1, 1956. The CBN Act of 1958 founded the bank and operations officially started in July 1959. Business in Nigeria. In January 2016, BUA Group agreed to sell its flour milling and pasta making businesses to Olam Group of Singapore for $275 million. We are talking about business men, true, but she has earned the right to be on this list. He also owns real estate plus a stake in Notore Chemical Industries, a manufacturer of urea fertilizer, as well as a stake in NALComet, one of Nigeria’s largest shipping companies. She is aunt to Dj Exclusive and fourth Richest business person in Nigeria. Therefore this company is a subsidiary of Royal Dutch Shell’s Nigerian branch or most commonly known as Shell Nigeria. Texaco was included before in this list before its merger with Chevron. We are talking about business men, true, but she has earned the right to be on this list. Brewery business seems to be good in Nigeria. Nigeria is gifted with many musicians who perform to make their fans happy and earn a lot of money for themselves doing what they love and do best, perform. Not only that, it serves as the government’s monetary authority in the country. Operating offshore, the company has at least 90 platforms located on a territory with a total of 7900,000 acres of land. The company provides as much as 1/3 of MTN Group Limited’s revenue. Theophilus Danjuma (born 9 December 1938) is a former Nigerian defense minister and the founder of oil exploration company South Atlantic Petroleum (SAPETRO), which owns upstream assets in Nigeria, Republic of Benin, the Central African Republic and Madagascar. This time, it was with the Texaco Overseas. Abdul Samad Isyaku Rabiu (born 4 August 1960) is a Nigerian businessman and the founder of BUA Group, a Nigerian conglomerate active in sugar refining, cement production, real estate, logistics, and port operations. According to Forbes, his net-worth in 2016 was estimated to be $1.8 billion. A successful merger happened in 2001 which allowed Total Nigeria Plc to grow more. Support from investors undoubtedly would provide the required push that the country needs. Nigeria LNG Limited started as a limited liability company in May 1989. Today we will take a look at the top 10 richest business owners in Nigeria. It also has a diverse clientele from Nigeria and the gas and oil companies worldwide. Rating the top 50 richest business men in Nigeria is no easy task but I will do justice to those who have made real impacts in the Nigerian business environment. She is aunt to Dj Exclusive and fourth Richest business person in Nigeria. She has interests in oil, printing and also fashion. Who is the richest businessmen in Nigeria? Before we start, try to guess who is the #1 in your Top 20 richest companies in Nigeria list. It has the role of a major sugar supplier to various breweries, confectioneries and soft drink companies in the country. Also known as Nigeria LNG Limited; where LNG stands for Liquefied National Gas mainly produces LNG and other natural gas liquids. Famfa Oil’s partners include Chevron and Petrobras. Aside loving business, the Igbo’s as well love production’s. The company not only caters to the Nigerian people but also exports its products to parts of West Africa as well. This year Forbes richest man from our country is Aliko Dangote. Also read: The top richest people in Nigeria Another piece of his fortune is in the oceanfront Radisson Blu in Lagos, Nigeria He is also the founder of Oba Otudeko Foundation. The company has a market capitalization of more than $10 million USD. in 1979 when the 40% shares owned by Barclays were sold to the Nigerian populace under the new law of investment. The Igbo’s are considered for business oriented tribes. The company started in 1946 and operated under a different name, Nigerian Breweries Limited. Today thousands of Freelan. Orji Uzor Kalu (born April 21, 1960) is the chairman of SLOK Holding and the former governor of Abia State. West African Monetary Zone rejects ‘Eco’ Currency, Top 20 Richest Companies in Nigeria Conclusion, Richest companies in Africa: Top 100 in 2020. Mike Adenuga – Net Worth $9.4 billion. Abdul Samad Isaya Rabiu is the scion of a wealthy family and unarguably one of the wealthiest Hausa indigenes in Nigeria. 10 richest men in Nigeria 2020 & their cars; Top 10 richest men in Africa & their cars (2020) 2. One can find its head office in Lagos; specifically in Victoria Island. Long before Nigeria’s economic boom, their stories of hardship, labor and success set new benchmarks, and serve as an inspiration to everyone. Its first official shipment happened in October of the same year. Jim James Ovia (born November 4, 1951) is a Nigerian businessman and founder of Zenith Bank one of the largest commercial banks in Nigeria. Also, what matters is how they could contribute to Nigeria’s continuous growth. Otedola is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate, and finance. no particular order: Known as the largest oil company in Nigeria. He is the founder and chairman of Honeywell Group and is also the chairman of FBN Holdings Plc. Folorunsho Alakija is vice chair of Famfa Oil, a Nigerian oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset. Also Read: How To Invest In The Nigerian Stock Exchange. A subsidiary of Chevron Corporation, CNL previously operated using a different name. Here is a list of the top 20 richest companies in Nigeria in According to Forbes, his net-worth in 2015 was estimated to be $0.7 billion. 19. In fact, the business caters to different kinds of needs. Who do you think would make the list of the richest kids in Nigeria? According to Forbes, his net-worth in 2014 was estimated to be $550 million. Being the richest black woman in the world, a position that Oprah Winfrey once held is no mean feat. In fact, more than 15,000 tons of cocoa beans became cocoa foods and drinks. You can guess the major fields that are the most valuable and bring the most money. Toothpaste, soaps, deodorants, lotions, and many more products come from Unilever Nigeria Plc. The bank also aims to stabilize the financial and monetary environment in Nigeria. However, because of several militant activities in the country especially in the Niger Delta, the company could not get ahead of Mobil and Shell. The ‘Dangote Group’ controls about 70% of the current Nigerian sugar market and operates as the third-largest sugar refinery in the world and the largest in Africa. Some many bags… Sa'adu Abubakar - Sultan of Sokoto. Orji Uzor Kalu’s Slok Holding is a West African conglomerate with interests in shipping, banking, oil trading, manufacturing, and the media. Affiliate Marketing is one of the biggest and co, These days, real estate is considered to be one of the most profitable and growing businesses. He is a billionaire businessman from Kano state. Commonly known to the Nigerian people as Glo, the company provided telecommunication services and was founded by Mike Adenuga on August 29, 2003. Brewery business seems to be good in Nigeria. Digital nomads are people who are location independent and use technology to perform their job. Formerly known as Etisalat Nigeria (though many still know the company by this name than the newer one), 9 Mobile boasts a multitude of very innovative products and services like the Eco Sim. The list of richest kings in Nigeria can't be complete without the Sultan of Sokoto - the most powerful ruler in the north and among the richest in Africa. The company has more than 500 service stations in the country alone. Through mutual cooperation, the Nigerian government could do petroleum production and exploration. Dangote is ranked by Forbes magazine as the 100th-richest person in the world and the richest in Africa and peaked on the list as the 23rd-richest person in the world in 2014. If you are ever going to make it in Nigeria, then you must obey the first law of business success of Andrew Carnegie; the steel mogul. Please, note that the list below is in no particular order. He was recognized as one of “Africa’s 20 Most Powerful People in 2012” by Forbes magazine. Now, its 9 Mobile’s time to shine. Of course, gaining more achievements and other factors would help shape the country’s success. Yet another telecommunications company gets added to this list. Through this company, they could participate in the petroleum business and regulate it at the same time. Even, Do you want to make money with affiliate marketing? A staple in celebrations, beer always make any party come alive. The company has a market capitalization of $2 billion. It might be early in the year for this list so be on the lookout for another list in the coming months. According to Forbes, Dangote’s net worth in 2018 was more than 14 billion U.S. dollars. Another big-time oil producer in Nigeria is Chevron Nigeria Limited. According to Forbes, his net-worth in 2015 was estimated to be $550 million. People have various health and hygienic needs and the Nigerian people certainly have the same needs. These ten first-generation Nigeria entrepreneurs started from humble beginnings but turned around their fortune with the right mix of intelligence, ambition, determination, and perseverance. Nairaland Forum / Nairaland / General / Business / Nigeria's Top 50 Richest Billionaires (263757 Views) 3 Youngest Nigerian Billionaires Today.No.1 Is Lagos Island Biggest Boy(pics) / List of World Richest Billionaires. Richest families in Nigeria #1 Briggs Family. Guinness Nigeria. RELATED: 7 Richest Politicians in Nigeria. It further grew in size when another merger was sealed. Because aside from Nigerian Breweries, the Nigerian people also have Guinness Nigeria to provide them with their favorite alcoholic beverages. After all, the entries can change with new companies joining the top 20 richest companies in Nigeria. Nigeria's Top 50 Richest Billionaires - Business - Nairaland. He set up his own business in 1988, importing rice, sugar and edible oils as well as iron and steel rods. Tony Onyemaechi Elumelu (born 22 March 1963) is a Nigerian economist, entrepreneur, and philanthropist. Here are the top 10 most richest companies in Nigeria according to their market values on the floor of the Nigerian Stock Exchange. Tony Elumelu came into the limelight in 1997 when he led a small group of investors to take over a small, floundering commercial bank in Lagos. The company officially started in 1962 through the installation of its very first brewery in Ikeja. GTB or Guarantee Trust Bank Plc is a Nigerian financial institution that provides a multitude of services like retail banking, investment banking, internet/online banking, asset management services and corporate banking. The richest people in Nigeria are focused; they chose a specific business of their strength and stuck to it. Michael Adeniyi Adenuga (born 29th of April 1953) is a Nigerian billionaire businessman and the second richest man in Nigeria. Oba Otudeko (born 18 August 1943) is a Nigerian entrepreneur. The majority of Nigerians aren’t so great when it comes to sa, Everyone can make money on Fiverr if they have one or two digital skills. There are a lot of wealthy women in Nigeria but here is a list of the richest among them right now. Such is the case of Julius Berger. He is the chairman of BUA Cement PLC – one of Nigeria’s biggest flour-mills. Today, Union Bank is one of the leaders in the Nigerian banking industry, and it boasts of a huge customer base, who carries out business with them because of their reputation and impressive customer service. In this article you will get to know the richest musicians in Nigeria and their net worth. The company has a market capitalization of $11 billion USD. Needless to say. 10 richest companies in Nigeria in 2018 10. These companies are the Nigerian National Petroleum Corporation, Shell, Total S.A., and Eni. Nigeria has slowly, but surely grew as years and decades pass by. So, each company has 55%, 30%, 10%, and 5%, respectively where its Market capitalization is $110 Billion USD. After all, it uses a fiber network that reaches out nationwide. However, by 1960, the product gained enough solid ground and became a staple in parties and ceremonies alike. Presently, his company dominates the markets in countries such as Benin, Ethiopia, Cameroon, South Africa, and Ghana among others. The Nigerian Stock Exchange added the company to a list of the most richest companies in Nigeria because of its success in the country. Nigeria’s billionaires and big businesses are ploughing money into Africa’s largest economy even as foreign investors shy away from a country in the midst of its second recession in five years. Over time, Ibru expanded his business to vehicle transportation, distribution and fruit growing, brewing, construction and petroleum distribution. Over the years, Aliko Dangote has established himself as Nigeria’s richest man, the richest in Africa and the richest black person in the world. Being a prime commodity makes this possible. We used their earnings and visible assets like cars and businesses to draw up this list. This name; Gulf Oil Company changed after the completion of a merger with Chevron. It grew from that small trading firm to a multi-million conglomerate today. The Igbo is the most richest people of Nigeria, the reason maybe their love for business. Being the richest black woman in the world, a position that Oprah Winfrey once held is no mean feat. Today, we see many children dream of becoming famous and many teenagers also dream about turning into billionaires in their future, but some kids are born already famous and … He is the chairman and largest individual shareholder with a stake of slightly more than 9% stake. In this post we list top 10 richest women in Nigeria and their net worth this 2020. Owned by Nigerian businessman Aliko Dangote, this company does not have only one main niche. Back to discussing oil companies. The company officially started in 1962 through the installation of its very first brewery in Ikeja. Mike Adenuga is the second richest business man in Nigeria. Being the most populated country in Africa and one of the most populated territories in the world, Nigeria with over 190 million citizens has so many spheres and industries to develop. How To Invest In The Nigerian Stock Exchange. Formerly known as the Bank of British West Africa, First Bank holds the record of being the largest bank in Nigeria in terms of gross earnings and total deposits. They are neither serving or the boss in any place you find them. It has a market capitalization of over 54 million USD. 9 Mobile also founded the Etisalat Prize for Innovation as a means for the Nigerian people to explore their innate talents at creating ways for Internet expansion in the country. The company comprises of food processing, freight, cement manufacturing businesses. Nigeria is Sub Saharan Africa’s largest economy and relies heavily on oil as its main source of foreign exchange earnings and government revenues. With an estimated worth of over $400 million according to Forbes, Tunde Folawiyo is one of the richest men in the country. Here’s the complete list of the richest entrepreneurs in Nigeria. He is also the owner of Cool fm Wazobia FM, Nigeria Info 9 and 3 FM. The company exports these products to other foreign countries. 4 key players in the oil industry comprise the company as a whole. He also owns prime real estate across Nigeria, and mobile telecom operator Visafone Communications Limited which has since been acquired by MTN. Julius Berger’s market capitalization is over 72 million USD. Net Worth: $1.5 Billion Ecobank Transnational Incorporated is an independent regional banking company in West Africa. MTN Nigeria is a subsidiary of MTN Group Limited whose former operating name was M-Cell. Nestlé Nigeria is no exception. In th, Want to learn how to save money? His mobile phone network, Globacom, is the second largest operator in Nigeria, with 37 million subscribers. Some of the must popular companies in Nigeria such as Slot, Linda Ikeji and almost 70% of Nollywood artists are from igbos. Almost every country has a central bank and Nigeria; of course, has its own. The gas plant in Bonny Island officially started producing liquefied natural gas products in September 1999. Needless to say, companies concerning food also has a high earning rate. According to Forbes, her net-worth as of 11th March 2018 was estimated to be $1.7 billion. Femi Otedola (born November 4, 1962) is a Nigerian businessman, entrepreneur, philanthropist, and chairman of Forte Oil PLC, an importer of fuel products. The company’s main task in the Shell Nigeria Corporation is to personally oversee the physical extraction and production of petrol. Fashion designers are becoming millionaires on daily basis in Nigeria, thanks to the revolution in the Nigerian fashion business orchestrated by the boom in the entertainment industry in Nigeria… It has a market capitalization of $0.5 billion. The company has more than 18,000 employees scattered around the world. Fashion Business. It holds the number 2 spot in Nigeria’s top oil-producing companies outmaneuvered by Shell. The market capitalization of the company is approximately $220.17B USD. With a net worth of over $12billion in 2018, Aliko Dangote is the richest man in Nigeria and entire Africa. READ ALSO: 7 Richest Politicians in Nigeria. Chevron used to be the third-biggest oil company in Nigeria. A large oil firm in its own right, Mobil Nigeria is just one out of a total of three subsidiaries of ExxonMobil. His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. Folorunso Alakija (born 15 of July 1951) is a Nigerian billionaire businesswoman, one of the richest African women, and one of the richest black women in the world. Top 10 Early-Stage Startup Investors And VCs In Nigeria. According to Forbes, his net-worth in 2015 was estimated to be $0.75 billion. As of November 2019, Folorunsho Alakija is estimated by Forbes Magazines to be worth $1 billion, making her the richest Nigerian woman alive. He is the chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. According to Forbes, his net-worth in 2016 was estimated to be $1.1 billion. Born on the 10th of April 1957, Aliko Dangote is the owner of the ‘Dangote Group,’ the largest cement and sugar producer in Africa. With a net worth of over $12billion in 2018, Aliko Dangote is the richest man in Nigeria and entire Africa. Food companies certainly earn big money. In this article, the companies that succeeded in earning large revenues and even more in turn helped the country succeed will be discussed. Hence, the company’s mandated role in overseeing the mergers with big foreign oil corporations ensures that the prices would be regulated and fair to the people. So, based on this criterion, here is a top of the richest states: Rabiu, the son of a businessman, inherited land from his father. Which company is the richest company in Nigeria these days? He got his start in business at age 19 after being expelled from a Nigerian university for spearheading a series of student riots. But the biggest question is; how much money does one need to be rich? 7 Amazing Books On How To Better Manage Your Money. Saipem Nigeria is a subsidiary of Saipem that mainly provides oil services like drilling either onshore or offshore, construction of power plants and pipelines onshore and offshore, maintenance and engineering services. One can locate the company’s headquarters in Lagos Nigeria. His other businesses include chemical, steel, and iron importation. Because aside from Nigerian Breweries, the Nigerian people also have Guinness Nigeria to provide them with their favorite alcoholic beverages. He is among the top richest men in Nigeria, thanks to a variety of investments, including a controlling interest in Transcorp, Nigeria’s largest publicly traded conglomerate; a significant stake in the United Bank for Africa; and an extensive portfolio of real estate across Nigeria, among other assets. Dangote started as a trading company in 1977. Femi Otedola is the son of the former Lagos State Governor, Michael Otedola. Mobile telecommunications also grew in the country; actually in Africa altogether. 1. Sure, it has its fair share of ups and downs but because of the people’s perseverance and continued belief that everything would turn out well in the end, the country now has a stable economy. The bank has a customer base of more than 10 million people and has 7,000 employees under its wing. It closed to impossible to see original Igbo man working at a company that he doesn’t own for more than 6years. Saipem Nigeria also does business linked to the gas and oil industry. He is a Nigerian business magnate, investor, and owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries. The conglomerate’s operations stretch across oil and gas, flour milling, real estate, and marine transportation. Hailed as an example of a growing company, Glo has over 3,500 employees working for it worldwide. Also Read: Top 10 Early-Stage Startup Investors And VCs In Nigeria. This article is the list of the richest footballers in Nigeria, who are playing actively. It’s headquartered in Abuja and also provides the most jobs for Nigerians. According to the recently released Forbes list in 2018, Mike Adenuga’s net worth as of 11th March 2018 was estimated to be $4.2 billion and he is the third richest person in Africa. Through this sentiment, Nigerian Breweries Plc became a pioneer in the brewery business and also the biggest brewing company in Nigeria. He was born on 29th April 1953 at Ibadan, Oyo state Nigeria, into the family of Oloye Michael Agbolade Adenuga Snr, a school teacher, and Omoba Juliana Oyindamola Adenuga, a business woman of the royal Ijebu descent. However, the male folks […] This construction company holds the position of being the biggest construction company in Nigeria and has been included in the Nigerian Stick Exchange list since 1991. Adenuga, Nigeria’s second richest man, built his fortune in telecom and oil production. One of the things money and wealth does not know is gender. Take note, all these three subsidiaries operate in Nigeria. The belief is that happiness lies in being rich. One of the biggest consumer goods company in Nigeria would be Unilever Nigeria Plc. Part of Globacom is Glo Mobile. It also acts as a financial adviser to the Nigerian government. The business grew and he was able to partner with a prominent Japanese firm. The company has a market capitalization of more than $3.1 billion. And the human resources that we operate include the hardworking and decisive individuals, who have rightfully made themselves a name in the world of business. Ecobank Transnational Incorporated – Market Value: 269.4 billion NGN. Also Read: 7 Amazing Books On How To Better Manage Your Money. This company just recently operated onshore on either the mangrove swamp or on dry land. His net worth fell from a year ago due to the sustained weakness in oil prices. 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