Richest Families in Nigeria 2023

Here are a few richest families in Nigeria. These families are not just rich; they also have a big influence on the country’s economy. They’ve played a big part in Nigeria’s growth through their businesses in different industries.

This article by RNN will explore the richest families in Nigeria at that time. It will show where their wealth comes from and how their notable contributions to the country’s economy.

Watch the video below for a quick overview of Nigeria’s richest families.

10. The Mo Abudu Family

Mo Abudu, also known as Mosunmola Abudu, was born on September 11, 1964, in Hammersmith, West London. She’s a Nigerian media mogul, philanthropist, and former human resources management consultant. Forbes labeled her “Africa’s Most Successful Woman” and The Hollywood Reporter recognized her as one of the “25 Most Powerful Women in Global Television.”

Born in Hammersmith, West London, Mo Abudu’s parents were an engineer and a caterer. She’s the oldest of three sisters and her family originates from Ondo Town, southwest Nigeria. At 7, she moved to Nigeria to live with her grandparents and returned to England at 11.

Not only is Mo Abudu one of Nigeria’s richest and most influential women, but Forbes also ranks her among Africa’s top successes. According to BuzzNigeria, her net worth is approximately $650 million (₦270 billion).

9. Tony Elumelu Family

Elumelu, born on March 22, 1963, in Jos, Plateau, Nigeria, is the son of Suzanne and Dominic Elumelu from Onicha-Ukwu in Aniocha North Local Government Area of Delta State. He grew up with four siblings, including Ndudi Elumelu, a minority leader in the Nigerian Federal House of Representatives.

Anthony Onyemaechi Elumelu CFR, an economist and philanthropist from Nigeria, was born on March 22, 1963. He chairs Heirs Holdings and Transcorp, while also founding The Tony Elumelu Foundation.

In 2020, Elumelu earned a spot on Time’s list of the 100 most influential people globally. Forbes estimates his net worth to be $700 million.

8. Danjuma Family

Theophilus Yakubu Danjuma was born on 9 December 1938. He is a Nigerian politician and retired lieutenant general in the army. He played a significant role in Nigeria’s post-independence military and political events. Danjuma earned a substantial fortune from his involvement in shipping and the petroleum industry.

He served as Chief of Army Staff from July 1975 to October 1978 and also acted as the Minister of Defence during President Olusegun Obasanjo’s administration. Danjuma’s birthplace is Takum, Taraba State, which was formerly known as Gongola, Nigeria. His parents, Kuru Danjuma and Rufkatu Asibi lived in a farming community where they cultivated yams, rice, cassava, and beniseed. Kuru Danjuma, a diligent farmer, also engaged in trading metal parts for farming tools. His family held respected positions in the community for generations.

Danjuma’s estimated net worth is approximately $1 billion.

7. The Adeleke’s Family

The Adeleke family stands out when discussing family wealth in Ede, Osun state, and even in Nigeria. Adedeji Adeleke, a Nigerian billionaire and business magnate, holds the position of president at Adeleke University and serves as the CEO of Pacific Holdings Limited. He is the father of Davido, a renowned Nigerian singer, and Sharon Adeleke. Adedeji’s spouse, Dr. Vero Adeleke, passed away on March 6th, 2003. His estimated net worth is around 900 million USD.

Also, Ademola Nurudeen Adeleke, born on May 13th, 1960, is the Governor-elect of Osun State and is reported to have a net worth of 600 million USD.

Adewale Adeleke serves as the Executive Director of Pacific Energy, is involved in music production, and co-owns the HKN song record label. He is famously recognized as the sibling of Nigerian singer Davido, with an estimated net worth of 80 million USD.

David Adeleke, professionally known as Davido, is a Nigerian musician, composer, and record producer. He skillfully blends African heritage with international mainstream music and is estimated to possess a net worth of 60 million USD.

Adeleke’s net worth is estimated to be $1.7 billion.

6. Femi Otedola Family

On the list of the richest families in Nigeria is Femi Otedola’s Family, Otedola was born on November 4, 1962, in Ibadan, Nigeria. His father, the late Sir Michael Otedola, was the Governor of Lagos State from 1992 to 1993.

Femi Otedola is a Nigerian businessman and philanthropist. He used to lead Forte Oil PLC and now oversees Geregu Power PLC.

Otedola founded Zenon Petroleum and Gas Ltd and has businesses in shipping, real estate, and finance. He recently invested in Nigerian power generation as the sector opened up.

Forbes estimates Otedola’s net worth at $1.85 billion.

5. Saraki Family

Born on March 19, 1962, Bukola Saraki, a 60-year-old Nigerian politician, possesses an estimated net worth of $2 billion. He gained prominence as the ex-governor of Kwara and served as the 13th president of Nigeria’s Senate from 2015 to 2019.

4. Tinubu Family

Chief Bola Ahmed Adekunle Tinubu, born on March 29, 1952, in Lagos, is a Nigerian politician. He currently serves as Nigeria’s 16th president. Prior to this, he governed Lagos State from 1999 to 2007 and represented Lagos West as a senator in the Third Republic.

Tinubu was born into the merchant family of Abibatu Mogaji, the Ìyál’ọ́jà of Lagos. Although most reliable sources indicate his birth year as 1952, some political opponents question this, suggesting he is older. His age remains unverified according to dependable sources.

Online estimates place Tinubu’s net worth at approximately $4 billion.

3. Mike Adenuga Family

Chief Michael Adenuga Jr CSG GCON, born on 29 April 1953, is a Nigerian billionaire entrepreneur and ranks as the third wealthiest individual in Africa. His company, Globacom, stands as Nigeria’s second-largest telecom operator and also maintains a presence in Ghana and Benin. He possesses shares in Equitorial Trust Bank and the oil exploration company Conoil (formerly Consolidated Oil Company). The Adenuga family has achieved financial prominence via ventures in telecommunications, oil exploration, and real estate, all driven by Mike Adenuga’s leadership. According to Forbes, his net worth was valued at $6.3 billion.

2. Abdul Samad Rabiu Family

Abdul Samad Isyaku Rabiu, born on August 4, 1960, is a Nigerian billionaire businessman and philanthropist. His father, Khalifah Isyaku Rabiu, was a prominent Nigerian industrialist in the 1970s and 1980s. Abdul Samad founded and leads BUA Group, a Nigerian conglomerate focused on manufacturing, infrastructure, and agriculture. The group generates over $2.5 billion in revenue. He also chairs the Nigerian Bank of Industry (BOI).

As of July 7, 2020, Forbes valued Rabiu’s wealth at $3.2 billion, ranking him 716th among global billionaires. By January 2022, he was considered Nigeria’s second wealthiest individual. In April 2022, he secured the fifth spot among Africa’s richest people, with a net worth of $6.7 billion. As of January 2023, Rabiu’s net worth increased to $8.6 billion, making him the fourth richest person in Africa.

1. Dangote Family

Dangote family ranked 1st in the list of the richest families in Nigeria. The Dangote family holds the highest position in Nigeria’s wealth pyramid. Aliko Dangote, the leader of this family, has gathered wealth by building a group of companies in industries like cement, sugar, and commodities trading.

Aliko Dangote, born on April 10, 1957, is a Nigerian businessman and industrialist. He’s most famous for creating, overseeing, and leading the Dangote Group, the biggest group of industries in West Africa. As of June 2023, the Bloomberg Billionaires Index valued his wealth at $17.8 billion. This makes him the wealthiest individual in Africa, the richest black person globally, and the 94th richest person in the world.

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