Photos: Top 10 Richest Nigerians

Here are the ten richest Nigerians all based on the current ranking of Forbes Africa list.



1. Aliko Dangote
Age: 58
Net Worth: $16.7 billion
Source of Wealth: Cement, Sugar, Flour
The Dangote Group was established as a small trading firm in 1977. Today, it is a multi-trillion naira conglomerate with many of its operations in Benin, Ghana, Nigeria, and Togo. Dangote has expanded to cover food processing, cement manufacturing, and freight.
The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country’s soft drink companies, breweries, and confectioners.
The Dangote Group has moved from being a trading company to being the largest industrial group in Nigeria and includes: Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.




2. Mike Adenuga
Age: 62
Net Worth: $6.5 billion
Source of Wealth: Telecom, Oil
His company Globacom is Nigeria’s second-largest telecom operator and also has a presence in Ghana and Benin. He also owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil (formerly Consolidated Oil Company). His telecom company Globacom spread quickly and started challenging the giant MTN Group.
It launched services in Benin in 2008 and has continued its spread across Ghana and Cote d’Ivoire, with more licenses currently being prospected in other West African countries.


3. Folorunsho Alakija
Age: 65
Net Worth: $1.7 billion
Source of Wealth: Oil
She is a business tycoon involved in the fashion, oil and printing industries. She is the group managing director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited.











4. Femi Otedola
Age:53
Net Worth:$1.6 billion
Source of Wealth: Gas stations
Femi Otedola is a Nigerian businessman, entrepreneur, philanthropist, and chairman of Forte Oil Plc, an importer of fuel products. He 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.









5. Abdulsamad Rabiu

Age: 55
Net Worth: $1 billion
Source of Wealth: Cement, sugar, flour
Abdul Samad Rabiu established BUA International Limited in 1988 for the sole purpose of commodity trading. The company engaged in the importation of rice, edible oil, flour and iron and steel.
In 1990, the then Government owned Delta Steel Company contracted BUA to supply its raw materials needs, for which Bua was paid with finished products.
This provided the much-needed windfall for the young company. Bua further ventured into steel, billets and iron ore importation and supplying multiple rolling mills in the country.
Few years down the line, BUA acquired Nigerian Oil Mills Limited, the largest edible oil processing company in Nigeria and later set up 2 flour milling plants in Lagos and Kano in 2005.
By 2008, Bua broke an eight-year monopoly in the Nigerian sugar industry by commissioning the second-largest sugar refinery in sub-Saharan Africa.
The company went on the acquire a controlling stake in a publicly listed Cement Company of Northern Nigeria in 2009 and commenced to the construction of a $500 million cement plant in Edo State to be commissioned early 2015.


6. Theophilus Danjuma
Age: 77
Net Worth: $75o million
Source of Wealth: Oil
South Atlantic Petroleum (SAPETRO) is a Nigerian oil exploration and production company that was created in 1995 by General T. Y. Danjuma. The ministry of Petroleum Resources in Nigeria awarded the Oil Prospecting License (OPL) 246 to SAPETRO in February 1998.










7. Tony Elumelu
Age: 52
Net Worth: $700 million
Source of Wealth: Investments
In his early career, Elumelu acquired and turned Standard Trust Bank into a top-five player in Nigeria. In 2005, his corporate reputation as an African business leader was sealed when he led the largest merger in the banking sector in Sub-Saharan Africa to acquire United Bank for Africa (UBA). In five years, he transformed it from a single-country bank to a pan-African institution with over seven million customers in nineteen African countries.
Following his retirement from UBA in 2010, Elumelu founded Heirs Holdings, which invests in the financial services, energy, real estate and hospitality, agribusiness, and healthcare sectors. In the same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic organization dedicated to the promotion of excellence in business leadership and entrepreneurship and to enhancing the competitiveness of the private sector across Africa.
In 2011, Heirs Holdings acquired a controlling interest in the Transnational Corporation of Nigeria Plc (Transcorp), a publicly quoted conglomerate that has business interests in the agribusiness, energy, and hospitality sectors. Elumelu was subsequently appointed the chairman of the corporation.


8. Jim Ovia
Age: 62
Net Worth: $550 million
Source of Wealth: Banking
Jim Ovia is the founder of Zenith Bank, one of the largest commercial banks in Nigeria. He is the chairman and largest individual shareholder with a stake of slightly more than 9% stake. He also owns prime real estate across Nigeria, and mobile telecom operator Visafone, which has 3 million subscribers.


9. Mohammed Indimi
Age: 67
Net Worth: $500 million
Source of Wealth: Oil
Mohammed Indimi is the chairman and leading shareholder of Oriental Energy Resources, a privately held Nigerian oil exploration and production company he founded in 1990. Oriental currently has three projects offshore of Nigeria’s Niger Delta region. Six of his children serve on the company’s board. His net worth dropped from an estimated $670 million a year ago due to ongoing low oil prices.






10. Orji Uzor Kalu

Age: 56
Net Worth: $330 million
Source of Wealth: Diversified
Orji Uzor Kalu is the founder of Slok Holding, a West African conglomerate with interests in shipping, banking, oil trading, manufacturing and the media. He got his start in business at age 19 after being expelled from a Nigerian university for spearheading a series of student riots. He borrowed $35 from his mother and started trading commodities like palm oil, rice, and sugar.
He diversified into furniture manufacturing and transportation and became a millionaire by the time he was 20. He hit the big time in the early 80s when the Nigerian military government awarded him lucrative contracts to import and supply arms and ammunition to Nigeria’s military and defense forces. He was previously a governor of Abia state in Nigeria’s southeast.

Meet Forte Oil CEO, Femi Otedola's Only Male Heir To His Billion Dollar Estate {Photos}

Fuel Scarcity Returns As Oil Workers Go On Indefinite Strike

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Just when Nigerians thought that the recent fuel scarcity would be coming to an end, latest news reveals that that isn’t the case as oil workers shut down all NNPC locations nationwide and went on an indefinite strike.
Earlier in the week the Minister of State for Petroleum Resources and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr.Ibe Kachikwu, stated that NNPC would be unbundled into 30 profit-making companies with separate Managing Directors in the weeks ahead as part of the ongoing transformation of the national oil company.
This disclosure didn’t go down well with the players in the industry, and as a result the Group Executive Councils of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) in a meeting yesterday stated that after “extensively discussing the pronouncement of the GMD on NNPC unbundling…observed that the GMD/HMSP totally disregarded due process and failed to engage stakeholders”
They therefore resolved that “…from midnight today (Tuesday, March 8), all NNPC locations will be shut down completely until further notice. Further directives will be communicated accordingly”.
According to Vanguard, some of the workers who spoke on the condition of anonymity, chided the Federal Government, the Minister of State for Petroleum Resources, Mr. Ibe Kachikwu and the management of the NNPC for taking such decision which concerns and affect the future of the workers without due consultations.
Source: Vanguard

Lady Accountant Who Drives A Cab In Abuja.

Susan Aghogho Asakpa went viral yesterday after her girlfriend shared her pictures on Facebook to celebrate the International Women’s Day and revealed she was a graduate accountant turned female cab driver in Abuja.

Here’s how this lady wonder got to where she is today:

It all started when Suzan Asakpa’s employer revealed the plan to slash her monthly salary from N80, 000 to N70, 000. ‘That was my wake-up call,’ she narrated, after all she was already getting bored with the job.

She had worked for three years as a manager in a hotel in Abuja and felt she deserved an upgrade. But it wasn’t coming.

To make this worse, came that revelation of a salary slash. At that moment Asakpe decided she needed to be her own boss and prayed for a business idea.

When she got on the phone to her father in Lagos, they talked about what she wanted to do.

He was excited when he learnt she wanted to drive a cab herself. It was not long before he gave her a call from Cotonou and asked her whether she would prefer a manual or automatic. He had actually taken a loan for that.

When the car was sent to Abuja, it was already serviced and everything had cost N720, 000. ‘But I am going to pay him back,’ Asakpe revealed, adding that she had already got N500, 000 so far.

So by October, 2015, Asakpe was already in business, but not before some preliminaries.

Before the vehicle was sent to Abuja, she had asked around and knew what she needed to do.

So when the time came she took it for a paint job. Initially, she had not wanted to paint it in the traditional taxi colours, but was advised by a taxi driver to do so because it’s the law.

Asakpe had complained to him that painted taxis were not allowed to enter some places, but he insisted that at least they still get access into most.

‘I later noticed that the rooftop of my cab was painted orange, which meant Painted Abuja taxi (PHC) while others blue, and some green with white stripes connoting their various companies,’ she revealed, adding that where she registered as a taxi driver, she was asked by several people whether she was actually going to drive it herself.

‘They were nice to me and I even got a pass twice and didn’t have to pay for the monthly sticker. All I had to do was show the note from their chairman and the boys on the road let me go,’ Asakpe said. She understood it was their way of encouraging her.

So far the experience has been interesting for Asakpe. Every day she gets to meet new people. Virtually everyone that enters her cab wants to engage her in a discussion. How did you come about this job? Why are you doing this job? And she enjoys responding to these questions because how she started-off is a story to tell.

But amidst the excitement sometimes comes challenges, particularly when her car sits at the mechanic’s and there’s no way she can work and it continues to gulp money for a couple of days.
Again, while most of the people around her are supportive, some discourage Asakpe. ‘I will get you a job,’ and ‘you shouldn’t be doing this’. But Asakpe only smiles.

Asakpe is presently studying to be a chartered accountant and plans to get more cars and empower women interested in the business.

‘There’s a lady already who is interested and keeps asking me to get a car for her,’ she intimated. So Asakpe wants to run a transport company that is strictly female in the future. She has realised that there’s no job that’s strictly for men, after all, there are men who own restaurants, cook, and make women’s hair.

‘Funny enough, men are supportive and are my biggest fans,’ she said, adding that she discovered it’s untrue that men don’t like independent women as some women claim. ‘I get more suitors now than i got when i was a hotel manager.’

Asakpe’s typical day as a hotel manager involved resuming work at 7:30 in the morning, particularly when she was studying for a particular examination. ‘Those days i have to work for 24 hours, which it means i work from that time of the morning to 12 midnight and then i sleep there in the premises and resume the next day at same time,’ she said.

Now her work schedule has changed and is more flexible. She drives out at 7:30 am and scouts around for workers, ‘because that’s the peak period, till 10am or 11am.’

When Asakpe started, she parks her car and sleeps off at noon, but soon discovered she could still make more money after a single experience. Overtime she has made friends with some of her customers and takes a break at their place of work. Ideally, her closing time is 5pm, but when some of her major customers are in town, she works late.

‘I had a customer recently and worked till 9pm,’ she revealed, adding that most times such jobs require her to drive them to a meeting and park while they are inside. So in this case she charges by the hour. Most times because they are her customers it fluctuates between N1,000 and N1,500. She thinks this is fair because she waits and her fuel is not used-up. And staying in a meeting for five hours by any customer automatically earns her N5000.

So Asakpe makes about N100, 000 in a month, with 80, 000 being her profit. A graduate of Accounting from the University of Nigeria, Enugu, she keeps her records clean and knows what she earns on a daily basis.

My pastor always says dress well no matter the job you do: Ghanaian Man who Hawk Water Melon On The Streets

The man in suit pictured above is Daniel Nartey, a Ghanaian man who dresses in a suit to hawk water melon around Madina in Ghana's capital, Accra to eke a living. When asked why he dresses this way, Daniel said; 

  "My pastor always says dress well no matter the job you do, so I decided to wear a suit. Some laugh at me, others encourage me and are willing to help me". Daniel says his dressing gives him an edge which helps him make 100 % profit after sales

"I make 100% profit. I think it is because of how I dress, people notice me easily and want to buy from me," Mr Nartey said. 

The 25-year-old is a primary school teacher and sells watermelon during weekends and when the school is on vacation. He is saving up to buy an oven and wants to one day own his own snack bar.