In the latest release, nine others made the billionaires club to join Africa’s Richest man Aliko Dangote with a net worth of $12.5 billion. In 2014, Dangote ranked as the 24th richest man in the world but has since then fallen to positions below 100 due to Naira’s depreciating value.
Others on the rich men’s list, according to Forbes ranking, are: Gbobacom and ConOil Chairman Mike Adenuga with a net worth of $10.5 billion, with interest in oil and gas and telecoms and Zenon Oil and Gas and Forte Oil Plc Chief Executive Officer Femi Otedola, who has interest in real estates amongst other sectors with a net worth of $2.3 billion.
Also in the club are: business tycoon Mrs. Folorunsho Alakija, who has interest in fashion, oil and printing industries. Mrs Alakija, who is the second richest African woman has a net worth of $2.1 billion; former Chief of Army Staff (COAS) Gen Theophilus Danjuma, who is the Chairman of Atlantic Petroleum with a net worth $1.7 billion and BUA Group Founder Abdusamad Rabiu, who has interest in sugar refining, cement production, real estate and port operations.
In September 2015, the BUA Group signed a $600 million deal with a Chinese cement equipment service provider Sinoma International Engineering to construct a second production line in Edo State. He is worth $1.5 billion.
Zenith Bank Founder and Chairman Jim Ovia is the largest shareholder with a stake of almost 10 per cent. Ovia is worth $1 billion.
The Chairman and Founder of the Honeywell Group, Oba Otudeko is said to worth $650 million. He is the chairman of FBN Holdings Plc. His operations spread across oil and gas, flour milling, real estate and marine transportation.