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Top 10 Richest Female Entrepreneurs in Nigeria (2025 Estimates)

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Nigeria’s female entrepreneurs continue to dominate boardrooms, industries, and entire sectors once considered out of reach. From oil magnates to media moguls, these women have built multi-million and even billion-dollar empires, creating jobs, influencing policy, and shaping Africa’s business narrative. This ranking draws from verified public records, financial reports, and credible wealth estimations as of 2025 (values converted to USD where applicable).

It focuses on self-made businesswomen whose ventures and investments have stood the test of time, market fluctuations, and Nigeria’s ever-evolving economy.

1. Folorunsho Alakija — $1.6 Billion


Nigeria’s richest woman and one of Africa’s most powerful figures, Alakija is the founder of Famfa Oil Limited, a major player in Nigeria’s petroleum sector with stakes in the lucrative Agbami oil field. Beyond oil, she owns Rose of Sharon House of Fashion and Dayspring Property Development Company. Her story from fashion designer to billionaire investor remains one of Nigeria’s most inspiring success journeys.

2. Bola Shagaya — $950 Million


A business powerhouse across oil, real estate, and finance, Bola Shagaya is the CEO of Bolmus Group International. She also runs Practoil Limited in oil and gas and has deep investments in photography through Fotofair Nigeria. As a board member of Unity Bank, Shagaya’s footprint in Nigeria’s financial system is undeniable.

3. Daisy Danjuma — $900 Million


Senator Daisy Danjuma serves as Executive Chairman of South Atlantic Petroleum (SAPETRO), a major indigenous oil company. She also chairs May & Baker Nigeria Plc, one of Nigeria’s top pharmaceutical manufacturers. Her blend of corporate leadership and philanthropy cements her reputation as one of the country’s most influential businesswomen.

4. Fifi Ejindu — $850 Million


Architect, investor, and founder of Starcrest Group of Companies, Fifi Ejindu has built her empire around luxury real estate, construction, and energy. With projects spanning high-end architecture and oil services, she remains a symbol of class and success in Nigeria’s business landscape.

5. Stella Okoli — $800 Million

Stella Chinyelu Okoli

A respected name in Nigeria’s pharmaceutical industry, Stella Okoli is the founder and CEO of Emzor Pharmaceutical Industries Limited. Her company produces over 50 trusted medicines distributed across West Africa. Known for her resilience and innovation, she represents the health sector’s entrepreneurial excellence.

6. Bimbo Alase — $750 Million


As founder of Leatherworld Furniture, Bimbo Alase transformed Nigeria’s luxury furniture market. From a single outlet in Lagos to a large manufacturing plant in the Calabar Free Trade Zone, her business has become synonymous with quality and local craftsmanship.

7. Mo Abudu — $650 Million


Dubbed “Africa’s Oprah,” Mo Abudu built EbonyLife Media into one of Africa’s biggest entertainment brands. From The Wedding Party franchise to global collaborations with Netflix and Sony, her content reaches audiences in over 40 countries. She continues to redefine storytelling from a Nigerian perspective.

8. Stella Oduah — $600 Million


A former aviation minister turned entrepreneur, Stella Oduah owns Sea Petroleum & Gas Company Limited (SPG). Her business interests also include Sea Shipping Agency and Rotary Engineering Services. Her reach in the energy sector makes her one of Nigeria’s wealthiest female industrialists.

9. Ngozi Okonjo-Iweala — $550 Million


The current Director-General of the World Trade Organization, Okonjo-Iweala has leveraged her global influence into strategic advisory and investment roles. With board memberships at firms like Standard Chartered and Twitter (X), she continues to shape financial and development policies worldwide while advancing African entrepreneurship.

10. Diezani Alison-Madueke — $500 Million


A former Minister of Petroleum Resources and the first female president of OPEC, Diezani Alison-Madueke has had a controversial yet impactful career. Her investments in oil infrastructure, engineering, and real estate still reflect her place among Nigeria’s wealthiest women in business.

 

Conclusion

These women represent more than just numbers on a rich list — they embody ambition, resilience, and the rise of female-led enterprise in Nigeria. Their stories reflect the evolution of a new generation of women who build, lead, and inspire against all odds.

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OPay Users Panic as Viral Influencer Posts Trigger Savings Security Scare

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Millions of Nigerians using OPay were thrown into confusion and panic over the weekend after cryptic social media posts from popular influencers sparked fears about the safety of their funds. The wave of anxiety began after journalist Seun Okinbaloye and UK-based influencer Dami Foreign made vague online warnings that many interpreted as signs of trouble within the fintech giant.

What seemed like casual cautionary posts quickly spiraled into a nationwide frenzy, with users flooding social media platforms—especially X (formerly Twitter)—to share screenshots of their balances, transfer alerts, and frantic questions about whether OPay was in crisis.

The alarm started late Friday when Okinbaloye, known for his tough interviews on Arise TV, tweeted: “If you’re banking digitally, double-check your security settings. Things are shifting fast, don’t wait for the glitch.” He gave no details or sources, but the tone set off concern among his followers. Within hours, Dami Foreign, a diaspora influencer with over half a million followers, added fuel with her own post: “OPay folks, heads up—heard whispers of major issues. Secure your funds or regret it. #FintechWatch.” The combination of urgency, emojis, and ambiguity ignited fears of an impending system collapse.

By Saturday morning, #OPayPanic topped Nigeria’s trending topics with more than 100,000 mentions in less than 24 hours. Users shared unverified claims of failed withdrawals and frozen accounts. “Tried to withdraw ₦800,000—declined! What’s happening?” one trader in Lagos wrote. Others said they had moved money out of the app “just in case,” fearing a repeat of previous digital banking disruptions during the 2023 cash scarcity.

Amid the chaos, unsubstantiated stories began circulating—claims of server hacks, regulatory crackdowns, and “Chinese owners shutting down operations.” None of the allegations were confirmed, but the viral speculation reflected the growing public mistrust in Nigeria’s digital finance ecosystem, where fraud losses reportedly exceed ₦10 billion annually.

OPay moved swiftly to calm nerves. In a Sunday statement shared on its official X handle and website, the company dismissed the rumors, saying: “We are fully licensed by the Central Bank of Nigeria (CBN) and insured up to ₦5 million per account by the Nigeria Deposit Insurance Corporation (NDIC). Our services remain fully operational—there are no issues. Please ignore baseless claims.” The fintech urged customers to activate two-factor authentication and promised stronger security updates soon.

In a response to TechCabal, an OPay spokesperson said: “This is misinformation at its worst. We’ve processed over ₦50 trillion in transactions this year with 99.9% uptime. Users’ funds are safe.”

Faced with backlash, both influencers issued clarifications. Okinbaloye explained that his post was “general advice on digital safety, not directed at OPay,” while Dami Foreign released a video saying her message was “a broad fintech warning” and not based on insider information. Still, online users accused them of spreading panic. Memes dubbing the duo “The Panic Twins” went viral, while consumer protection groups like FICAN urged regulators to introduce stricter accountability standards for influencers in financial communication.

This isn’t OPay’s first brush with public skepticism. The company, owned by Opera Software, has faced criticism in the past for account freezes linked to fraud investigations and a donation mix-up that went viral in 2024. Yet, it remains one of Nigeria’s strongest fintech players, recently named Africa’s top fintech firm for 2025 and launching a ₦1.2 billion SME support fund.

Financial analysts believe the recent scare reveals deeper trust issues between Nigerians and digital financial systems. “In a low-trust economy, influencers can unintentionally trigger financial instability,” said Chinedu Nwankwo of Proshare. “Their words carry the power of headlines—but without the responsibility.”

As queues formed at POS outlets and the OPay app’s Play Store rating dropped by 15% overnight, the company rolled out a “Trust Challenge” campaign offering ₦100,000 to users who secure their accounts as part of efforts to restore confidence.

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NNPCL Raises Petrol Price to ₦992 per Litre, Sparks Public Outcry Across Nigeria

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The Nigerian National Petroleum Company Limited (NNPCL) has again increased the pump price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦865 to ₦992 per litre.

The new rate, which took effect on Sunday, has triggered confusion and frustration among motorists nationwide, as many woke up to find petrol prices nearing the ₦1,000 mark for the first time.

As of press time, the NNPCL had yet to release an official statement explaining the reason for the latest hike. However, attendants at several NNPC retail outlets confirmed receiving directives to recalibrate their meters to the new price.

At the NNPC Mega Station along Ogunusi Road in Ojodu Berger, Lagos, attendants were seen updating pump meters to reflect the ₦992 per litre rate, while customers voiced anger over the sudden change.

A driver waiting to refuel said, “Yesterday, it was ₦865. Today, it’s almost ₦1,000. How are we supposed to cope with this?”

In some parts of Lagos and Ogun States, stations were either not dispensing or displayed mixed pricing. Checks at NNPC outlets in Ibafo, along the Lagos–Ibadan Expressway, showed the old price of ₦875 per litre still on display, but pumps were inactive. Similar scenes played out in Ikeja, Ikorodu, and Mowe, where several stations remained closed, fuelling speculation of fresh scarcity.

The sudden adjustment has reignited public concerns about the government’s fuel pricing policy and its impact on the cost of living. Many Nigerians fear another ripple effect on transport fares and the prices of goods, as inflationary pressures deepen.

On social media, reactions poured in within hours of the change. “Fuel is now ₦992, and minimum wage is still ₦70,000. How are people supposed to survive?” one user posted on X, reflecting growing public frustration.

Economic analysts warn that without clear communication from the NNPCL or the Federal Government, the move could further strain consumer confidence. Civil groups have also called for transparency in the pricing mechanism and urged authorities to address persistent supply disruptions that have kept Nigeria’s fuel market volatile since the removal of subsidies.

For now, motorists are bracing for tougher days ahead, as long queues and rising costs return to petrol stations across the country.

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CBN Cracks Down on ATM Glitches: Banks Face 48-Hour Refund Mandate or ₦5,000 Daily Fines

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The Central Bank of Nigeria (CBN) has issued sweeping guidelines mandating banks to process refunds for failed ATM transactions within 48 hours, or cough up a steep ₦5,000 penalty per day of delay. The directive, unveiled in a draft framework for automated teller machine (ATM) operations, targets “not-on-us” interbank transactions, where customers draw from another bank’s machine, while same-bank “on-us” failures demand instant reversals. It’s a wake-up call for Nigeria’s banking sector, long plagued by technical hiccups that leave millions of nairas in limbo and tempers flaring at the counter.

The CBN’s hammer drops amid rising customer complaints over debited accounts without dispensed cash, a scourge that’s eroded trust in digital banking. Under the new rules, refunds for interbank flops must hit accounts in under two days, slashing the old five-day window for disputed POS and web transactions. Banks dragging their feet? Expect fines stacking up like bad debt: ₦5,000 daily per unresolved case, enforced by the apex bank with an iron fist. “This is about restoring confidence and holding operators accountable,” a CBN source told BusinessDay, emphasizing the regulator’s zero-tolerance for “excuses wrapped in tech jargon.”

The guidelines, circulating as a draft for stakeholder input, go beyond refunds. They enforce instant reversals for on-us transactions, cap ATM downtime at 72 hours with mandatory notifications, and ramp up security protocols like biometric verification and real-time fraud alerts. Network service providers, too, face the heat: any glitches in their systems could trigger penalties, ensuring the buck stops at the top. “Customers deserve seamless service, not endless queues and finger-pointing,” the directive states, echoing years of advocacy from consumer rights groups like the Consumer Protection Council.

Reactions poured in swiftly. The Nigeria Labour Congress hailed it as a “victory for the working class,” while the Bank Customers Association of Nigeria warned that non-compliance could spark a wave of class-action suits. On X, the buzz was electric: one viral post from @globaltrendsX blared the breaking news, racking up shares as users vented tales of “ghost debits” haunting their statements. “Finally! My Access Bank saga from last month ends here,” tweeted a Lagos trader, capturing the collective sigh of relief.

This isn’t the CBN’s first rodeo on payment pains, recall the 2020 circular that trimmed chargeback periods, but the fines add real teeth, analysts say. With Nigeria’s cashless push accelerating post-naira redesign, the timing couldn’t be sharper. As banks scramble to tweak systems before the rules solidify, one thing’s clear: the era of “system error, try again later” is over. For everyday Nigerians, it’s a small but seismic win, one less headache in the daily grind.

 

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