Nigerian Successful Entrepreneur (Billionaires) and their Businesses

Who are Nigeria billionaires and how did they accumulate their wealth? What are the type of business Nigerian successful entrepreneur do? What is the secret to their success? Please Read on to know the answer to these questions.

I will first compile the list some of these billionaires which are the top richest people in Nigeria and to be noted, this list will be restricted to entrepreneurs only.

The reasons for coming up with this aforementioned list; most of you may be wondering why I compiled this list of entrepreneur billionaires in Nigeria. The reason is as follows:

  • To learn from their successful secret and the little effort they put in before making it billionaire.
  • The impact of their companies in Nigeria economy.
  • The size and market share of their companies.
  • The market value of their company’s brand.
  • The number of companies they own.

I am proud that some individuals stood tall to tell the world that we have got some potentials. Nigeria as a country has been branded all sort of names and a lot has been said about Nigeria; both positive and negative. Despite the severe terrain and business challenges involved with starting a business in Nigeria; the successful entrepreneurs listed below held their ground and fought their way to the top. In a country with a population of over 180 million inhabitants and millions of businesses; Entrepreneurs has taking advantage of the fastest growing business opportunities in Nigeria.

List of some rich entrepreneurs in Nigeria and the businesses they do

  1. Aliko Dangote – Dangote Group (Dangote Cement, Dangote Sugar Refinery, Dangote Flour), (Industrial, Oil and Gas).
  2. Mike Adenuga – Conoil, Globacom (Oil and Gas, Banking, Telecom).
  3. Femi Otedola – Forte Oil and Gas (Oil and Gas).
  4. Orji Uzor Kalu – SLOK Holding, Chairman of Daily Sun, New Telegraph, First International Bank Ltd (Aviation, Shipping, Publishing, Manufacturing).
  5. Cosmos Maduka – Coscharis Group (Automobile, Manufacturing).
  6. Jimoh Ibrahim – Nicon Group, Global Fleet (Insurance, Transportation, Oil and Gas, Banking).
  7. Jim Ovia – Zenith Bank, Visaphone (Banking, Telecom).
  8. Pascal Dozie – Diamond Bank, ADIC Insurance Ltd, Aluminum Extrusion Industries, Chairman of MTN Nigeria (Banking, Insurance, Telecom).
  9. Oba Otudeko – Honeywell Group Nigeria, Pivotal Engineering, Chairman of Airtel Nigeria and Fan Milk Nigeria Plc. (Banking, Manufacturing, Oil and Gas, Telecom).
  10. Alhaji Sayyu Dantata – MRS Group (Oil and Gas, Construction).
  11. Umaru Abdul Mutallab – Mutallab Group, Former Chairman First Bank Plc.
  12. Prince Samuel Adedoyin – Doyin Group of companies Ltd (Manufacturing, Pharmaceuticals).
  13. Dele Fajemirokun – Xerox HS Nigeria Limited, Chicken Republic, King Guards, Chairman AIICO Insurance Nigeria Plc. (Insurance, Sercurity, Food retailing).
  14. Chief Cletus Ibeto – Ibeto Group (Trading, Manufacturing, Oil and Gas).
  15. Tony Ezenna – Orange Group (Pharmaceutical, Oil and Gas).
  16. Chief Molade Okoya Thomas – Chairman CFAO Nig and other six French companies (Automobiles).
  17. Leonard Stanley Nnamdi Ekeh – Zinox Technologies (Computer, Technology).
  18. Fola Adeola – GTBank, FATE Foundation, M.D TransCrop Hilton Hotel (Banking).
  19. Chief Ade Ojo – Elizade Motors Nig LTD, Distributor of Toyota Cars (Auto Retailing).
  20. Vincent Amaechi Obianodo – Young Shall Grow Motors, RockViews Hotels (Transportation, Hotels).
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Having gone through the list of some richest entrepreneurs in Nigeria. Its time I share with you the various successful secrets they have passed through. I am sharing you these secrets of Nigerian billionaires, so we can pick up some lessons and replicate their success strategy.

Nigeria billionaires

The Successful Secret of Richest Nigeria billionaires (Entrepreneurs).

Have you ever wondered how Aliko Dangote – is ranked (according to Forbes) as the 67th richest person in the world and the richest in Africa, how Mike Adenuga – is the second richest person in Nigeria, or how His company Globacom is second-Largest telecom operator in Nigeria, how Femi Otedola – become the second Nigerian to be included on Forbes list of dollar-denominated billionaires. Below are the successful secrets of the richest people in Nigeria.

  1. They are focused

The richest people in Nigeria are focus by choosing a specific business to start with their strength and stuck to it. If you want to make it in Nigeria, then you have to obey the first law of business success – Andrew Carnegie; the steel Mogul which Says:

“And here is the prime condition of success, the great secret. Concentrate your energy, thoughts and capital exclusively upon the business in which you are engaged in. having begun in one line, resolve to fight it out on that line; to lead in it. Adopt every improvement, have the best machinery and know the most about it.”

This statement is true in every possible way because if you look at our billionaire’s success, you will found out this statement says everything about their focus. Aliko Dangote focused on commodities and basic needs. Femi Otedola, Alhaji Sayyu Dantata focused on oil and gas. , Cosmos Maduka, Ade Ojo concentrated on automobiles. This should tell you being focus is the key factor of success in business.

  1. They understand their line of business
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If you look at all Nigeria Billionaires you will see most entrepreneurs thoroughly understand their various businesses. The likes of Cosmos Maduka- the billionaire founder of Coscharis Group, Mike Adenuga- billionaire founder of Globacom, Aliko Dangote- billionaire founder of Dangote Group, Prince Samuel Ade Doyin – billionaire founder of Doyin Group. This tells that studying your business to you knowing it, is essential to success.

  1. They have strong willed

The Nigerian billionaires are strong willed in person. They are dogged and persistent. To these set of individuals, success is a most. Mike Adenuga had his telecom license revoked twice and lost over $20 million but he refused to give up to success.  Orji Uzor kalu had his oil bloc license and aviation license revoked; his airline business was grounded and the business accounts of his publishing firm (The Sun) was frozen, yet he refused to give up. The same happened when chief Cletus ibeto’s cement company was shut down by the government, he persisted and refuses to give up. So if you are reading this and probably want to give up on your business, be persistent and refuse give up.

  1. They have strong business Dreams

The Nigerian billionaires have strong business dreams; and this propel them to greatness. Take for instance Aliko Dangote, has the mission of providing basic needs for millions of people in Nigeria.

  1. They have strong business management team

A business team is a vital in your transition from a small business to a big business. In this case, I will say that behind every successful entrepreneur is a strong, motivated, disciple business management team.

Just like the saying; behind every successful man is a woman.

  1. They love Nigeria

A great Secret. Of all the successful secrets of Nigerian (entrepreneurs) billionaires, this is the greatest secret moving their riches to the next level. Their Love for Nigeria.

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Updated: July 7, 2017 — 7:17 pm

The Author

Babatunde Oyedele

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