Six Nigerians named in Forbes’ 2025 world’s black billionaires list

Six Nigerians named in Forbes’ 2025 world’s black billionaires list

1) Aliko Dangote

Aliko Dangote is Nigeria’s richest man and one of Africa's most prominent billionaires, with a diversified business empire spanning across cement production, sugar refining, salt, and other commodities. His wealth is primarily derived from Dangote Cement, which is the largest producer of cement in Africa. In addition to his cement business, Dangote also holds substantial stakes in sugar and salt production, both of which are integral to the Nigerian economy. His net worth is estimated at over $20 billion, making him not just the richest Nigerian but also one of the wealthiest people in the world. Dangote’s business acumen and investments have enabled him to consistently dominate Nigeria’s wealth rankings and grow his presence across the African continent.Dangote’s wealth also comes from a combination of smart investments and his role as a leading industrialist in Africa. Through his group, Dangote has invested heavily in large-scale infrastructure projects, such as a $12 billion oil refinery and petrochemical complex, which is set to significantly impact Nigeria's oil industry. This ambitious project aims to reduce Nigeria’s dependency on imported refined products, further enhancing Dangote’s position in the global business landscape. His stronghold in Nigeria’s industrial sector and his commitment to economic transformation are key drivers of his substantial fortune.

2) Mike Adenuga

Mike Adenuga is another Nigerian mogul with a diverse portfolio of investments, which include telecommunications, oil, and gas. He is the founder of Globacom, Nigeria’s second-largest telecom company, which has expanded to other countries in West Africa. Globacom is a major player in Africa’s telecom sector, and it generates billions of dollars in revenue every year. Additionally, Adenuga owns stakes in the oil industry through Conoil Producing, which is involved in exploration, production, and distribution of petroleum products. His net worth is estimated to be around $8 billion, making him one of Nigeria’s wealthiest and most influential businessmen.Adenuga’s business success can be attributed to his strategic investments in key sectors of the Nigerian economy, where he has capitalized on the growing demand for mobile telecommunications and energy. His telecom company, Globacom, was the first in Nigeria to launch a 3G network, positioning him as a pioneer in the industry. Furthermore, his oil and gas assets continue to grow in value, contributing significantly to his wealth. Adenuga’s impact on Nigeria’s economic development is undeniable, as he remains an influential figure in both the corporate and philanthropic sectors.

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3) Abdulsamad Rabiu

Abdulsamad Rabiu is the founder and chairman of BUA Group, one of Nigeria’s largest conglomerates with interests in cement, sugar, and real estate. BUA Cement is one of the top cement producers in Nigeria, and Rabiu has grown his wealth substantially by focusing on key sectors that drive Nigeria’s infrastructure and industrial growth. His net worth has been estimated to be around $6.9 billion, primarily stemming from his company’s cement production capacity and his diverse investments in sugar and other sectors. Rabiu’s business strategy has allowed him to dominate markets that are essential to Nigeria’s growth.Rabiu’s wealth also extends beyond cement, as BUA Group is involved in real estate and agriculture. BUA’s sugar business is one of the largest in Nigeria, and Rabiu has taken steps to integrate the production chain by investing in sugar plantations. Additionally, he has focused on building a diversified portfolio of assets, including a massive cement production plant and a refinery project. Rabiu’s rise to prominence in the Nigerian business world has been marked by strategic investments that meet the country’s growing needs, positioning him as a key player in Nigeria’s industrialization.

4) Adebayo Ogunlesi

Adebayo Ogunlesi is a Nigerian-born global businessman and private equity investor who serves as the chairman and managing partner of the global investment firm, Global Infrastructure Partners (GIP). Ogunlesi’s wealth comes from his leadership in GIP, which has invested heavily in infrastructure projects across sectors such as airports, energy, and transportation. He is best known for his role in acquiring and managing major airports around the world, including the John F. Kennedy International Airport in New York and several airports in the UK. His net worth is estimated to be around $3.5 billion, largely due to the success of GIP’s investments in critical infrastructure.Ogunlesi’s business expertise in infrastructure investment has made him one of the leading figures in the global investment community. His firm, GIP, has managed billions of dollars in assets and has played a pivotal role in the privatization and growth of key infrastructure around the world. Ogunlesi’s influence extends beyond the private sector, as he has also held advisory roles in numerous organizations and continues to be an advocate for infrastructure development in emerging markets. His success in managing complex global investments has cemented his status as one of Nigeria’s wealthiest individuals.

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5)Femi Otedola

Femi Otedola is a prominent Nigerian businessman and philanthropist, widely recognized for his substantial wealth, which comes from his interests in the oil and gas industry. He is the founder of Forte Oil, an energy company involved in the distribution of petroleum products across Nigeria. Otedola’s net worth is estimated to be around $1.8 billion, though his wealth has also been bolstered by investments in real estate, banking, and other sectors. His business acumen has made him a significant figure in Nigeria’s energy market, and he remains a key player in the country’s oil sector.In addition to his oil business, Otedola has made notable investments in other industries such as banking and real estate. His strategic moves, including the sale of his stake in Forte Oil, have allowed him to diversify his wealth across various high-yield sectors. Otedola is also known for his philanthropic efforts, particularly in education and healthcare, where he has made considerable contributions. His influence in both the business and social spheres continues to shape his legacy as one of Nigeria’s most respected billionaires.

Tope Awotona

Tope Awotona is a Nigerian-American entrepreneur and the founder of Calendly, an online scheduling platform that has revolutionized how individuals and businesses arrange meetings. Awotona's net worth is estimated at over $2 billion, largely due to the success of Calendly, which has become one of the most popular scheduling tools in the world. His platform has attracted millions of users globally, and he has garnered significant investment from venture capital firms. Awotona's success is attributed to his innovative approach to solving a common problem, making the scheduling process more efficient for users.Awotona’s journey to becoming a billionaire is a testament to his entrepreneurial spirit and ability to scale a tech company. Under his leadership, Calendly has raised millions in funding, with the company’s valuation reaching billions of dollars. His impact on the tech industry has made him one of the most notable Nigerian-born entrepreneurs in the global business scene. Additionally, Awotona's journey has inspired many aspiring tech entrepreneurs, especially within the Nigerian diaspora, to pursue innovative solutions in the tech space.

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