With an estimated total population of 206 million people, it is undoubtedly remarkable how some rich families in Nigeria still managed to stand out amidst a host of others like them in the country. While there are different types of family in Nigeria, it is most common to see Nigerians distinguishing families based on their wealth status or level of popularity.
Amidst the large population in Nigeria, there are some specific families that stand out because of their immense wealth
Top 25 richest families in Nigeria
While many people believe that royal families in Nigeria are usually the richest, other people argue that families of successful politicians in Nigeria are the richest and most popular ones. Well, after reading through this list below, you should be able to decide for yourself which is true.
This fact among other reasons prompted us to prepare this article which lists out the richest families in Nigeria and various interesting facts about them. Before going into details, let's have a look at the table of contents.
|List of top 25 richest families in Nigeria|
|No.||Family Name||Wealth Source(s)|
|1||Dantata (Dangote) Family||Cement, Sugar, Fertilizer and others|
|2||Adeleke Family||Power, Banking, transport, Real estate and oil|
|3||Otedola Family||Power, oil, and other businesses|
|4||Telecoms, Oil and gas|
|5||Abiola Family||Transport, banking, publishing, education, finance and oil.|
|6||Igbinedion Family||Business and Politics|
|7||Saraki Family||Business and Politics|
|8||Tinubu Family||Business and Politics|
|9||Okoya-Thomas Family||Automotive-related businesses|
|10||Folawiyo Family||Real estate, agriculture, energy and shipping|
|11||Danjuma Family||Petroleum and shipping businesses|
|12||Briggs Family||Hotels, Oil and Gas|
|13||Ibru Family||Banking, oil & gas, agriculture, shipping and aviation|
|14||Fajemirokun Family||Oil prospecting, shipping, insurance, banking, engineering, and shipbroking|
|15||Tejuoso Family||Industries, Royalty and Politics|
|16||Arthur Family||Oil production and exploration|
|17||Ovia Family||Banking, Finance and Capital Investments|
|18||Elumelu Family||Banking, Finance and Capital Investments|
|19||Agabje Family||Banking, Finance, Capital Investments and Politics|
|20||Rabiu Family||Real estate, Cement, Sugar, shipping, Oil and Gas|
|21||Alakija Family||Real estate, fashion, large-scale printing, and oil|
|22||Ibeto Family||Auto spare parts manufacture, and petrochemical Industry|
|23||Benedict Family||Oil production|
|24||Indimi Family||Private oil production and exploration|
|25||Sanomi Family||Power, oil, maritime industry, telecommunications, logistics, real estate and aviation|
1. Dantata (Dangote) Family
You may know Aliko Dangote (GCON) as the richest man in Africa and the richest black person in the world as of today. However, what you might not know is that he is actually the great-grandson of the popular Alhaji Alhassan Dantata, the richest man in West Africa as at 1955 when he died. Oh yes, you would be right to say “like great-grandfather, like son” 😊.
What you might even find more interesting is that Dangote’s great-grandpa had the most successful family business in Nigeria during his lifetime. This pretty much explains the reason why most of Dantata’s sons, grandsons and great-grandsons are all successful business moguls in Nigeria.
Africa’s richest man (2021), Aliko Dangote is a member of the popular Danata Family of business gurus
For the curious minds, Aliko Dangote’s current net worth is an estimated $13.5 billion (₦5.15 trillion) and he currently owns a collection of the following “rare” expensive cars:
- Maybach 57S Knight Luxury - ₦380 million
- Bugatti Veyron - ₦760 million
- Mercedes-Benz CL65 AMG - ₦83.9 million
- Bentley Mulsanne - ₦ 118.2 million
2. Adeleke Family
After Dangote’s family, the second richest family in Nigeria is most probably the Adeleke Family. Yes, this is the family of popular Hip-pop music star, Davido, whose real name is David Adeleke. The immense wealth of the Adeleke Family needs not to be “hyped” because Davido alone is currently ranked as one of the top 10 richest musicians in Nigeria and Africa as a whole.
Nigerian music star, Davido and his billionaire father are currently the most popular members of the Adeleke Family
Speaking of the Adeleke Family, it is worth mentioning that Davido’s father – Dr Adedeji Adeleke is also a billionaire and popular business tycoon with investments spread across banking, transport, real estate and oil sectors. When you read all about Davido father’s net worth; you will surely be mesmerized by Adeleke Family’s riches.
3. Otedola Family
Knowing fully well that renowned Nigerian Billionaire, Femi Otedola is the current leading figure of the Otedola family, you should already have an idea of just how rich the Otedola Family is. We even have a whole article which reveals a great deal of information about Femi Otedola’s net worth and several other untold facts about him.
4. Adenuga Family
Just as you might have already guessed; the father figure of the Adenuga Family in Nigeria today is no one else but Chief Michael Adeniyi Agbolade Ishola Adenuga Jr (CSG GCON). He is the billionaire CEO of Globacom Limited and the third richest man in Africa. According to Wikipedia, Mike Adenuga’s mother was also a popular businesswoman and a royal “Ijebu” descent.
5. Abiola Family
There is no way the history of politics can be written in Nigeria without an honourable mention of the late Chief Moshood Kashimawo Olawale Abiola who is popularly known as M. K. O. Abiola. He was said to be one of the richest men in Nigeria and Africa as at the time of his death in 1998. The Abiola Family has remained wealthy till date because of Chief M.K.O Abiola’s business investments in sectors like transport, banking, publishing, education, finance and oil.
6. Igbinedion Family
Anyone familiar with Okada Town in Edo state would already know the one and only Chief Gabriel Igbinedion who is the Esama of Benin Kingdom. He is the progenitor of the Igbinedion Family and has established quite a wonderful reputation over the years through his various successful business ventures. One of his sons, Lucky Igbinedion was the executive governor of Edo state from 1999 to 2003 while his daughter, Omosede is currently serving as a Federal lawmaker.
7. Saraki Family
While many people know the Saraki family members as successful politicians, only a few persons realize that they are also wealthy business experts. Yes, the late Olusola Saraki was not just a politician but also a renowned banker who served as the Chairman of the Societe Generale bank which is now defunct. Similarly, a popular media outlet recently confirmed that the Saraki Family has investments in Real estate business outside Nigeria.
8. Tinubu Family
Just like the Saraki Family in Kwara state, the Tinubu Family possess a priceless reputation in Lagos state due to their heavy investments in various businesses across the state. Chief Bola Ahmed Tinubu, the current leader of the family was the executive governor of Lagos state between 1999 and 2007.
Reliable sources claim that his mother was actually one of the wealthiest businesswomen in Lagos during her lifetime. And before we forget, the wife of Chief Bola Tinubu is currently serving as a Nigerian Senator representing Lagos Central Senatorial District.
9. Okoya-Thomas Family
You will hardly find any true player in the Nigerian automotive world who does not know about CFAO Motors Nigeria. Well, what’s very interesting is that the Okoya-Thomas family have quite an interesting history that is “tied” to the popular auto company.
The renowned Nigerian business mogul, Late Chief Molade Okoya-Thomas was the Chairman of CFAO Motors from 1987 up until 2015 when he passed away. Similarly, his father, Late Hussam Okoya-Thomas was the first-ever indigenous staff of CFAO Motors and he served in the company for good 52 years during his lifetime.
10. Folawiyo Family
The long history of the wealthy Folawiyo Family started with Chief Abdulwahab Iyanda "Wahab" Folawiyo, the intelligent businessman who laid the foundation of the wealth that the family enjoys today. He started “Yinka Folawiyo & Sons” company back in 1957 to focus on the lucrative export and import business. This company later gave birth to the Yinka Folawiyo Group of companies which is now popular today for having diversified investments in real estate, agriculture, energy and shipping.
11. Danjuma Family
There is no way anyone can make a list of the richest families in the northern part of Nigeria without including the Danjuma Family among the top 10. Oh yes, this is due to the fact that the reputation and wealth of the family date as far back as the era of military rule in Nigeria. The story of this family began with General Theophilus Yakubu Danjuma – a super-successful Nigerian politician and businessman who amassed enormous wealth from investing in petroleum and shipping businesses.
12. Briggs Family
The renowned Late High chief, Olu Benson Briggs combined his good foresight with a well-determined spirit to achieve huge success and wealth that the Briggs Family enjoys today. Yes, the highly intelligent Ijaw man was one of the only few people who got an OML (Oil Mining License) early enough and never sold it afterwards.
This is the reason why he later became one of the wealthiest men in Nigeria and created a beautiful reputation for the Briggs Family. Also, with a similar spirit of success, Mrs Seinye Lulu-Briggs – the wife of the late chief did contribute her own “quota” to the family’s success. She once served as the CEO of the gigantic Rachael Hotels Limited in Port Harcourt and this made her become very popular among her counterparts managing some of the best family resorts in Lagos Nigeria back then.
As of today, the amazing success records of Dr. (Mrs.) Seinye Lulu-Briggs makes her one of the richest businesswomen in Nigeria.
13. Ibru Family
The Ibru Family is one of the wealthiest and most powerful families in Nigeria today because of their various big businesses. This popular family owns Ibru Organization which is one of Nigeria’s biggest conglomerates with a huge number of employees. The Ibru Organization today has become a multi-billion-dollar business with “tentacles” in banking, oil & gas, agriculture, shipping and aviation.
14. Fajemirokun Family
This is one of the “silent” but extremely rich families in Nigeria with several investments in various businesses and assets spread all over Nigeria. The forerunner of the family, Chief Henry Oloyede Fajemirokun, was one of Nigeria’s most popular businessman and industrialist during his lifetime. He also founded the Henry Stephens Group of Companies which deals in several businesses like oil prospecting, shipping, insurance, banking, engineering, shipbroking and many more.
15. Tejuoso Family
This family is blessed with several prominent figures in both politics and the Nigerian civil service fields. One name that would first ring a bell for Ogun state indigenes is that of the Late Chief Esther Bisoye Tejuoso, the super-rich Egba businesswoman who founded Teju Industries. Some of the other affluent members of the family include:
- Oba Adedapo Tejuoso, the Oba (King) Osile of Oke Ona Egbaland in Ogun State and also the son of the Late Chief Esther Bisoye Tejuoso
- Olanrewaju Adeyemi Tejuoso, the popular Nigerian Senator, medical doctor and son of Oba Adedapo Tejuoso
- Hon. Adefunmilayo Tejuoso, a lawyer and current member of the House of Assembly in Lagos state
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16. Arthur Family
The popular Nigerian billionaire and business mogul, Prince Arthur Eze is currently the father figure of the Arthur Family. He is one of the most respected players when it comes to the business of oil production and exploration in Nigeria today. As of 2020, several reputable media outlets published Prince Arthur Eze’s estimated net worth to be ₦2.22 trillion ($5.8billion).
17. Ovia Family
If you own a Zenith Bank account in Nigeria or know someone that uses the bank then, you are somewhat already “linked” to the Ovia family which is currently led by Jim Ovia. Yes, the popular Nigerian finance expert, Jim Ovia is the largest shareholder and Chairman of Zenith Bank Nigeria PLC. He is also the founder of Visafone Nigeria and the proud owner of several real estate properties across the country.
18. Elumelu Family
The name “Elumelu” has become very popular in Nigeria today because of one man; his name is Tony Onyemaechi Elumelu and he is an extremely brilliant Economists. Many people got to know him better when he was the Chairman of the United Bank of Africa (UBA) before his retirement in 2010. Much story need not be told about his previous countless achievements in the Nigerian Banking and Finance world because it’s all evident in his current ₦266.9billion ($700million) estimated net worth.
19. Agbaje Family
A list of the most popular families in the Nigerian banking sector would never be complete without a “bold” mention of the Agbaje Family. While many people today only know of Segun Agbaje as the handsome CEO/MD of Guaranty Trust Bank (GTBank), just a few are aware of the fact that his father Chief Julius Kosebinu Agbaje was also a banker during his lifetime.
Yes, they are indeed a family of successful bankers and finance experts. However, it is worth mentioning that Jimi Agbaje who is a popular Pharmacists and politician is also a renowned member of the family.
20. Rabiu Family
The journey to the richness of the Rabiu Family began with the late Khalifah Isyaku Rabiu, a brilliant industrialist who achieved huge success between the ‘70s and ‘80s in Kano state, Nigeria. His legacy got carried on by his son, Abdul Samad Isyaku Rabiu, the popular Nigerian billionaire businessman who has accrued enormous wealth from profits generated by his company, BUA Group. According to recent Forbes data, Abdul Samad Rabiu is currently ranked as one of the top 10 richest men in Nigeria with his estimated net worth of ₦1.3trillion ($3.2billion).
21. Alakija Family
Out of the entire 25 families on this list, the Alakija Family is probably the only one that is currently being led by a fearless and highly intelligent woman. Her name is no other than the “great” Folorunso Alakija; the only Nigerian billionaire businesswoman that is ranked on the Forbes list as of the time of writing this article.
She manages several businesses and has accrued so much wealth from her diversified portfolio of investments in real estate, fashion, large-scale printing, and oil. She currently stands at the top of Forbes list as the richest woman in Nigeria with an estimated net worth of ₦382 billion ($1 billion).
22. Ibeto Family
This Family currently rests on the shoulder of just one man, his name is Cletus Madubugwu Ibeto, a very intelligent and hard-working businessman from Nnewi, Anambra State. He is the head of “Ibeto Group”, a large enterprise that comprises several lucrative businesses that have gained so much wealth for the family over the years.
The Ibeto Group has remained one of Nigeria’s largest auto spare parts manufacturer since 1995 till date. Similarly, the Ibeto Petrochemical Industry has been producing various petroleum-related products since 1996 till now. These ventures and many more are the main sources of the immense wealth of the Ibeto Family.
23. Benedict Family
Sometimes many people find it difficult to believe that Nigeria is blessed with so many billionaires and millionaires. One of such wealthy sons of the land is Benedict Peters, the progenitor of the Benedict Family in Nigeria.
He is the billionaire founder of Aiteo Group, the largest oil production firm in Nigeria till date. As at February 2016, Benedict Peters’ net worth was estimated to be ₦1.1 trillion ($2.7 billion).
24. Indimi Family
When talking about the richest families in Borno state, one cannot but mention the popular Indimi Family which is being led by Mohammed Indimi, the billionaire Nigerian oil magnate. He is the Chairman and founder of OER (Oriental Energy Resources), a private oil production and exploration company in Nigeria.
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25. Sanomi Family
The last but not the least Family on this list is the popular Sanomi Family in Delta state which is led by none other than the genius Nigerian geologist and businessman, Igho Charles Sanomi. He is a renowned wealthy Urhobo man and proud owner of several businesses that cut across sectors like power, oil, maritime industry, telecommunications, logistics, real estate and aviation.
Meet the popular and wealthy Sanomi Family of Delta state, Nigeria
And there you have it, a comprehensive list of all the richest families in Nigeria with other bits of interesting information about them that you might not know before.