Top 10 Richest Entrepreneurs in Nigeria (Business Owners in 2024)

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Richest Entrepreneurs in Nigeria

Welcome to this post about the top 10 richest entrepreneurs in Nigeria and Successful Business owners in 2024, via Afrokonnect. Nigeria is a country which is rich in diversity and an entrepreneurial spirit.

This has aided the country produce remarkable business leaders who have shaped the country’s economic landscape and the global business arena at large. This article provides an in-depth explanation on the top 10 entrepreneurs in Nigeria in 2024 whose visionary leadership and innovative spirit have pushed them to the top of the nation’s business elite.

Most of the top 10 entrepreneurs in Nigeria in 2024 didn’t find it easy but kept going through the tough times and succeeded. Their individual stories extends far beyond their successes but embodies the innovation and vision necessary to navigate the dynamic Nigerian business environment.

This aids in shaping the trajectory of their enterprises and contributes significantly to the nation’s economic development.

The Top 10 Richest Entrepreneurs in Nigeria in 2024

1) Aliko Dangote:

Aliko Dangote (Top 7 richest men in Africa)

He is regarded as one of the most successful entrepreneurs both in Nigeria and on the African continent. He has built an empire so vast that it spans across majority of the industries on the continent hence leaving an indelible mark on the economic landscape across the continent.

In 1977, he established the Dangote Group, initially as a small trading firm. However, his vision and business prowess propelled the company to one of the top players on the African economic landscape.

Presently, the company has evolved into a conglomerate with interests in various sectors such as manufacturing, cement, sugar, salt, and flour. His achievements have attracted global recognition and earned him numerous awards as a business icon.

2) Mike Adenuga:

He is a prominent figure in the Nigerian business landscape and has carved a legacy that spans across various sectors such as telecommunications, oil and gas, banking, and real estate.

His journey to becoming one of Africa’s wealthiest individuals is a testament to his business prowess and strategic vision. His success story lies in the telecoms sector through the establishment of Globacom in 2003 which is one of Nigeria’s leading providers of mobile and data services.

He has also contributed prominently in other sectors such as Oil and gas (Conoil), Banking (Equatorial Trust Bank, now merged with Sterling Bank), and Real Estate. His ability to build and manage successful enterprises has position him as a model for aspiring entrepreneurs both in Nigeria and across the continent.

3) Folorunsho Alakija:

She is a businesswoman and fashion symbol whose journey to success has been marked by a commitment to making a positive impact. Her success story is a model to the potential of women in business. In the 1980s, she founded the Rose of Sharon House of Fashion which is a high-end Nigerian fashion label.

The brand has quickly gained recognition across the country for its unique designs and quality products. She has also invested significantly in Oil and Gas Exploration through the securing of an oil prospecting license in 1993.

This move would later on lead to the establishment of Famfa Oil Limited. The company has gone on to make significant oil discoveries in Nigeria which has led to the advancement of oil production.

4) Tony Elumelu:Tony Elumelu as one of the top 10 entrepreneurs in Nigeria

He is an entrepreneur whose journey to success is marked by his commitment to the concept of “Africapitalism” (The belief that the private sector can drive Africa’s economic development).

His breakthrough in the entrepreneurship sector was in 1977 through the transformation of Standard Trust Bank into a formidable financial institution. This marked the beginning of the influence in the financial sector. He spearheaded the merger of Standard Trust Bank with United Bank for Africa (UBA).

This created one of Nigeria’s largest financial institutions. He became the CEO of UBA and implemented strategic initiatives that expanded the bank’s operations across Africa and international markets. He is also the founder and chairman of Heirs Holding, a conglomerate with interests in various sectors. Some of these sectors include energy, real estate, hospitality and healthcare.

5) Strive Masiyiwa:

He is a Zimbabwean-born entrepreneur whose significant contributions to the telecom sector in Nigeria has earned him a position on this list. His contributions in the telecoms sector can be seen through Econet Wireless Nigeria (now Airtel Nigeria).

The company has been a key player in the telecom sector for years. It has provided millions of Nigerians with mobile and data services and contributed immensely to the industry’s growth in Nigeria.

The Econet Group has also made several investments in financial technology. This can be seen through the establishment of platforms such as EcoCash, a mobile money service. The platform has provided banking services to millions of unbanked and under banked citizens in Zimbabwe and beyond.

6) Jim Ovia:

He is a prominent figure in the banking sector and has contributed immensely to changing the economic landscape of the financial industry in Nigeria. His entrepreneurial legacy is closely tied to his role in the establishment of Zenith Bank in 1990.

His vision to create a world-class financial institution has been materialized as Zenith Bank has quickly gained prominence under his leadership. The bank’s approach to introducing electronic banking has propelled the bank to the top when it comes to the adoption of technology within the Nigerian banking sector.

7) Ibukun Awosika:

She is a businesswoman, author and an entrepreneurial icon to women in Nigeria. Her venture into the business world began with the establishment of Quebees Limited, a furniture manufacturing company in 1988.

This also led her to establish Chair Centre Limited, a company that specializes in the production of office furniture. The company under her leadership has grown to one of the leading furniture companies in Nigeria.

Her influence in the banking industry can be understated as she made history by becoming the first female Chairperson of First Bank in 2016. She is also an author and her book, “The Girl Entrepreneur” aims to inspire and guide young female entrepreneurs by sharing her personal journey in the business world.

8) Theophilus Yakubu:

He is a distinguished businessman and former military officer who has left an indelible mark on the Nigerian business landscape.

His entry into the energy sector began after his retirement from active military service. He founded the South Atlantic Petroleum (SAPETRO) in the early 1990s and grew the company to a prominent player in the Oil and gas industry in Nigeria. The company engages in oil exploration, production and various development activities.

9) Orji Uzor Kalu:

He is a politician and businessman whose impact has played a significant role in shaping Nigeria’s business landscape. In 1980, he founded Slok Holding, a conglomerate with interests in various sectors such as shipping, banking, oil and gas, real estate, and media.

He also acquired The Sun in 1999, a Nigerian daily newspaper. Under his leadership, The Sun has grown to become one of Nigeria’s leading newspapers known for its influence in the media space.

He is also very active in politics as he was a two-time serving governor of Abia State from 1999-2007. During his tenure, he implemented policies which were aimed at promoting economic development and infrastructure in Abia State.

He was convicted in December 2019 of corruption charges and sentenced to 12 years in prison. However, in May 2020, the Supreme Court overturned his conviction hence ensuring his release from prison. These legal issues have significantly impacted his political and business activities.

10) Leo Stan Ekeh:

He is a visionary entrepreneur and technology innovator whose impacts have been seen significantly across the information technology sector. He established the Zinox Group in 2001, a conglomerate with interests in various sectors such as manufacturing, distribution, retail and services.

The group under his leadership has grown to become a leading player in the Nigerian technology ecosystem. It has also contributed significantly to the Nigeria’s digital transformation.

In 2013, the group acquired HiTV, a Nigerian communication and technology company. This marked its entry into the broadcasting and content distribution sector. It also showcased a strategic move by the group to diversify its presence in the rapidly evolving technology landscape.

He was awarded with the Nigerian National Honor of Officer of The Order of The Federal Republic (OFR) in 2006. This award was given to him due to his significant contributions in Nigeria’s ICT industry.

FAQs

Who is the 2nd richest man in Nigeria?

As of 2024, Aliko Dangote was considered the richest entrepreneurs in Nigeria. 

Who is the richest business man in Nigeria 2024?

The richest business man in Nigeria is Aliko Dangote, He has been the richest business man for a few years now. In fact, he is the richest man at the moment. 

Who is the richest entrepreneur in Nigeria?

Mike Adenuga was often mentioned as one of the wealthiest individuals in Nigeria, and he was considered one of the top contenders for the title of the second richest person in the country. 

Mike Adenuga has interests in telecommunications, oil, and other sectors. However, wealth rankings can change, so it’s advisable to consult the latest sources for the most current information on the 2nd richest person in Nigeria.

Conclusion on the Top 10 Richest Entrepreneurs in Nigeria in 2024

Richest Entrepreneurs in Nigeria

The individual stories of these top 10 entrepreneurs in Nigeria in 2024 showcase a powerhouse of innovation and leadership. This has significantly contributed to improving and promoting Nigeria’s economic landscape.

Their impact is not only felt in their individual successes but their contributions across various sectors ranging from telecom to technology and finance.

These entrepreneurs through their actions have also inspired a new generation hence shaping Nigeria’s economic progress and fostering a prosperous and vibrant future for Nigeria. Thanks for reading and I hope to see you again on Afrokonnect.ng.

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