Nigeria is one of the largest and most populated countries in Africa. It prides in not only having some of the richest men in Africa, but also the world.

While we believe there are several more Nigerians that would rank among the richest in the world today, we’ve discovered that just a few have made the Forbes list of richest people in the world, the reason being that companies like Forbes and Bloomberg estimates the wealth of individuals and usually rank them based on the value of shares they have in quoted companies (ie companies listed on the stock exchange).

In this article, Buzz Nigeria takes a look at Forbes list and have combined that with information from other sources such as Bloomberg and Ventures Africa to come up with a more comprehensive list of the richest men in Nigeria, these are billionaires and multi millionaires, all figures are in US dollars.

20. Oba Oteduko

Net Worth: $550 Million

Industry: Diversified


Obafoluke Otudeko’s net worth is estimated to be $550 million according to Forbes (estimated to be worth $1 billion by Ventures Africa).

He is a Chartered banker, Chartered accountant, and also a Chartered Secretary by profession. Dr. Oba Otedeko’s business interests spread both locally as well as internationally.

His wealth comes from investments and entrepreneurship, he sits or has sat on boards of prestigious firms that include Fan Milk Plc, Airtel Nigeria, Honeywell Group, First Bank of Nigeria, Eco Bank, Guinness Nigeria Plc.

Honeywell group where he serves as the Chairman of the board is a business conglomerate with operations stretching across oil and gas, flour milling, real estate and marine transportation.

Anchorage Leisures, a subsidiary of the Honeywell Group, owns Radisson Blu which is a prominent waterfront hotel in Victoria Island, Lagos. Oba also owns minority stakes in First Bank and Ecobank.

Continue with Rest of The List On Next Page..




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