By Clement Abayomi
Wealth in Nigeria is more than just statistics; it is power, legacy, and the force behind several sectors. From cement industries and oil production to the world of telecommunications, the wealthiest families in Nigeria not merely contribute to the country but also define its economic history. Their wealth, often accumulated over decades and handed down across generations, reflects the excellence of Nigerian business; their impact extends far beyond boardrooms into the daily life of millions. Nigerian billionaires are not just preserving dynasties; they are also breaking records of wealth on the continent today as the world economy changes and the quick rise of publicly traded corporations transform the financial world. The following (2025) rankings show some amazing results, but behind those numbers are stories of vision, courage, and reinvention that show how important Nigeria is for Africa’s economic future.
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1. THE DANGOTE FAMILY ($23.9 billion)
Aliko Dangote, the wealthiest man in Africa and among the richest Black billionaires worldwide, leads the Dangote family. The majority of the family’s wealth comes from the Dangote Group, a sizable corporation with operations in cement, sugar, flour, salt, oil refining, and fertiliser manufacturing. Dangote’s wealth is estimated at $13.5 billion in 2024, but, according to Forbes, his wealth had increased to $23.9 billion by March 29, 2025, making him Africa’s richest man for the 14th year. With activities across several African nations, the Dangote Group has grown under his direction to be the biggest company in West Africa, demonstrating the family’s power in regional business and economic life.
2. ABDULSAMAD RABIU FAMILY ($7.4 billion)
The second wealthiest family in Nigeria is the Abdulsamad Rabiu family; among Africa’s most powerful businesspeople, Abdulsamad Rabiu, founder of BUA Group, stands out. His varied empire covers real estate, sugar refining, and cement manufacturing. Forbes estimates that his fortune increased from $4.9 billion in March 2025 to $7.4 billion by August 2025, demonstrating the strength and development of his businesses despite the difficulties in the Nigerian economy. He combined his privately held Obu Cement with the publicly traded Cement Company of Northern Nigeria in 2020 to form BUA Cement Plc, which is traded on the Nigerian Stock Exchange with Rabiu owning a dominating 98.2% share. As he owns 95% of BUA Foods, he is among the biggest publicly traded company owners in Nigeria.
3. THE ADENUGA FAMILY ($6.3 billion)
Mike Adenuga leads the Adenuga family. His wealth comes from oil production and telecommunication, building great riches across the nation. With more than 17 million users, Nigeria’s third-largest mobile network GLOBACOM is owned and founded by Adenuga. He also owns the company behind Glo-1, a submarine internet wire connecting Nigeria to the U. K. through Ghana and Portugal. In the oil sector, his company Conoil operates six oil blocks in the Niger Delta. He also holds a 74% stake in the petroleum marketing firm Conoil and owns just under 6% of Sterling Financial Holding. Forbes estimates his net worth at $6.3 billion, placing him among Nigeria’s wealthiest.
4. THE ELUMELU FAMILY ($2.15 billion)
The family is led by Tony Elumelu. As of March 2025, MoneyCentral estimates the net worth of Tony Elumelu, CFR, at $2.15 billion. Their wealth is based in Heirs Holdings, with sizable holdings in real estate, United Capital, Heirs Insurance, Heirs Energies, United Bank for Africa (UBA), and Transnational Corporation of Nigeria (Transcorp). The family has recently raised its investment in Transcorp by almost 36%, therefore enhancing its worth as the share price has seen a sharp rise. As of 2025, Elumelu also owns the single most valuable stake in UBA, estimated at over $63 million. His most valuable asset is still Heirs Energies, valued at $1.74 billion. More investments in cash reserves, real estate, investment banking, and insurance help to combine the family’s multibillion-dollar fortune.
5. THE OTEDOLA FAMILY ($1.5 billion)
According to Forbes, Femi Otedola leads the Otedola family with a net worth of almost $1.5 billion. Strategic investments in real estate, banking, and energy form the basis of his fortune. Otedola controls 70% of Geregu Power, a major electricity-generating company operating gas turbine plants in Kogi State. Beyond energy, he is a major shareholder in First Bank, holding more than 5% ownership, and has additional stakes in Zenith Bank. His portfolio also includes high-value real estate assets in Lagos, Dubai, London, and Monaco, making him one of Nigeria’s most diversified investors.
Moving on, as stated below, the Ibru family’s net worth has a tie with the Otedola family. The following report was made by WigmoreTrading in 2025.
6. THE IBRU FAMILY ($1.5 billion)
One of Nigeria’s most well-known corporate families is the Ibru family, worth around $1.5 billion. Michael Ibru started the dynasty, and Olorogun Oskar Ibru built on it. At first, the dynasty made its money in big fishing operations, but later it moved into real estate, hospitality, and banking. With significant social and economic impact in Lagos and Delta State, the Ibru Group grew to be among the most powerful business names in Nigeria.
7. THE INDIMI FAMILY ($1.3 billion)
Mohammed Indimi leads the Indimi family. The family is worth $1.3 billion, with their wealth stemming mostly from oil exploration and related services. The family is now well known in Nigeria’s petroleum sector, thanks to Oriental Energy Resources. Based in Borno State, the family has also established close commercial links both at home and overseas to guarantee their ongoing relevance in the energy industry.
8. THE DANTATA FAMILY ($1.2 billion)
The Dantata family, among Nigeria’s oldest and most powerful commercial dynasties, has an estimated net worth of $1.2 billion. Originally established by Alhassan Dantata, among the earliest industrial leaders of the nation, and later supported by Aminu Dantata, the family’s holdings include banking, manufacturing, and trade. The Dantatas, who live in Kano, also form the family line from which Aliko Dangote, who is the richest man in Africa, comes. This makes their legacy even more important in history.
9. THE FOLAWIYO FAMILY ($1 billion)
Valued at over $1 billion, the Folawiyo family owes their wealth to the late Wahab Iyanda Folawiyo, founder of the Yinka Folawiyo Group. Their wealth is connected to oil and gas, imports, exports, and a variety of interests in shipping and infrastructure. The family, which is based in Lagos, has been known for its charity and community development activities as well as for its important part in the growth of industry in Nigeria.
10. THE OKOYA FAMILY ($900 million)
Businessman Rasaq Okoya, founder of the Eleganza Group, leads the Rasaq Okoya family, which is worth an estimated $900 million. Large-scale production of consumer goods including furniture, plastics, and household items generates their riches. Based in Lagos, Eleganza products are sold throughout Nigeria and even outside the country, making the Okoya family a representation of business success in manufacturing.
