List 10 Diverse Business Opportunities In Nigeria – We all love to read the success stories of entrepreneurs in Nigeria because usually, they inspire us and show us that nothing is impossible. Here is an article where the 10 most successful entrepreneurs in Nigeria will show you how to succeed. So, embark on an entrepreneurial journey and learn how the richest people in Nigeria do it.
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List 10 Diverse Business Opportunities In Nigeria
Nigeria is a naturally endowed country. The country has all kinds of natural resources, minerals and people. Human resources include hard-working and determined people who have built an excellent reputation in entrepreneurship.
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Apart from the riches of these successful entrepreneurs in Nigeria, you will learn their influence on society and excellent entrepreneurial skills. Who are they, and how did they get their wealth?
Have you ever wondered how the rich get their money? As you will see from the list of entrepreneurs in Nigeria, the most interesting thing is that they do not have one source of income but invest in many businesses. So, who is the richest?
Oba Otudeko (Right) receiving the CEO of the Year award from Jay Ireland (left) CEO of General Electric Africa during the Africa CEO Forum Awards on March 21, 2016. Photo: Sia Kambou
This entrepreneur is known for being the chairman of large companies such as Honeywell Group and FBN Holdings PLC, specialized in oil and gas, real estate, shipping, and flour milling. He was born in 1943, and his hometown is Ibadan, Oyo State. Oba Otudeko came from a royal family.
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He is an accounting graduate of Leeds Business College, UK. He has worked as a banker, accountant, and corporate secretary.
Oba Otudeko is involved in many businesses and has received many awards. Of course, he is most famous for the Honeywell Group, but he has also helped other companies grow.
He also founded the Oba Otudeko Foundation, which specializes in charity and philanthropy. He is happily married to his wife, Adebisi Aderonke Otudeko. Oba Otudeko’s net worth was about $550 million, according to the Forbes list in 2014. His net worth may have increased since then, but not by that much.
Tony Elumelu was born in 1963 in Plateau State. He attended university in his native country and has 2 degrees in economics. He also holds a Masters Degree from the University of Lagos.
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Elumelu founded Heirs Holdings, which invests in power, real estate, healthcare, hospitality, and oil and gas, in 2010. Tony is also the founder of the Tony Elumelu Foundation. This organization empowers and supports African entrepreneurs.
Tony is married to Awele Vivien Elumel, with whom he has 7 children. He is also the brother of Ndudi Elumelu, a politician.
Tony Elumelu was ranked the 31st richest person in Africa with a net worth of $700 million in 2015 by Forbes. However, there has been no further comment on his wealth since then, and it is likely that it has increased.
Famous for being the founder of Zenith Bank, Jim Ovia, born in 1951, is an educated and powerful man. He joins the list of successful entrepreneurs because of his great wealth.
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He has a bachelor’s degree in Business Administration from Southern University in Louisiana and a Master’s degree from the University of Louisiana in the same discipline. He is also a graduate of Harvard Business School.
In 1980, Jim Ovia founded Zenith Bank, one of the most influential banking institutions in the West African nation. Currently, Jim Ovia is worth 900 million dollars, making him one of the richest entrepreneurs in Nigeria. Moreover, his net worth is expected to grow, considering his great business success.
Jim Ovia is not only a businessman – he is also involved in philanthropic work. He founded the ICT Youth Empowerment Foundation; an organization aimed at improving the well-being of Nigerian youths and helping them embrace new communication and information technologies.
Born in 1951, Folorunsho Alakija is now Nigeria’s most successful businessman. According to Forbes, Folorunsho is worth $1 billion.
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His career began in the mid-70s when he worked as a secretary. He is well known as the managing director of Rose of Sharon Group. He is the executive vice-chairman of Famfa Oil Limited, where he earns huge profits. He is also the founder of the fashion label Supreme Stitches, which makes clothes for affluent customers.
Folorunsho Alakija does a lot of charity work – for example, he gives aid to widows through the Rose of Sharon Foundation. She is the most prominent example of success for young Nigerian women, and shows how strong they can be if they work hard enough and believe in themselves.
Orji is a graduate of three universities: University of Maiduguri, Abia State University, and Harvard University. Currently, he is the chairman of SLOK Holding and the owner of Daily Sun Newspaper. Rich and famous Orji Uzor Kalu always knew that he wanted to be the best.
Young Orji Uzor Kalu started his entrepreneurship in palm oil business, when he bought the products from the eastern regions of Nigeria and then sold them to the northern ones. Orji Uzor Kalu went from selling palm oil to a furniture business, which became a huge success.
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Finally, he started his own company called SLOK Holding. This business conglomerate exploded, and now has branches in Nigeria, South Africa, Guinea, Ghana, Liberia, Benin Republic, Botswana, and even Korea.
The businessman’s worth is about 1.1 billion dollars. Orji Uzor Kalu strongly believes that people who want to be successful should have their hearts in it and see new opportunities everywhere.
Politician, businessman, lawyer, and philanthropist Jimoh Ibrahim always knew that success would come to him one day and that he needed to work hard. He was born in 1967 in Ondo State.
Jimoh Ibrahim was a law student at the famous Obafemi Awolowo University in Osun State, where he obtained his undergraduate and postgraduate degrees. Later, he went to the United States to study at Harvard University.
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After completing his education, he started investing in many profitable sectors. Its investment sectors are hotels, airlines, hotels, real estate, banking, publishing, insurance, and oil and gas distribution.
Today, Jimoh Ibrahim is the chairman of Global Fleet Group, a large company based in Nigeria. It has a large number of branches in different cities in Nigeria, especially Lagos, and in other African countries – Ghana and Sao Tome and Principe, to name a few.
Jimoh Ibrahim is a published author – credited as the author of three books. He is also the publisher of the National Mirror newspaper.
Its current value is approximately 1.1 billion dollars. Ibrahim is married to Modupe Jimoh Ibrahim, and they have four children.
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Nigerian businessman, philanthropist, and former chairman of Forte Oil PLC, an importer of petroleum products, Femi Otedola. Photo: @femiotedola
Femi is one of the most famous entrepreneurs in Nigeria. He is a well-known philanthropist and oil magnate who was born in 1962 in Ibadan, Oyo State. He has established companies in Nigeria and abroad. Some of its most prominent businesses are Forte Oil PLC, an oil importer, and Zenon Petroleum and Gas Ltd, which is engaged in distribution and marketing.
He has made significant investments in other fields of business, such as finance, real estate, and transportation. Apart from that, he invested in the production of electricity, which is supposed to be part of the liberation of the sector. Most of its wealth comes from the energy sector. Femi’s net worth is estimated at about $1.8 billion.
Femi Otedola is also a happy family man, with all four of his children successful in their own ways. For example, his eldest daughter, Florence Otedola, is a popular musician known as DJ Cuppy, and is also a Nigerian tourism ambassador.
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Temi Otedola, his younger sister, is a popular fashion blogger and aspiring designer. Billionaire Femi Otedola has not only made a name for himself but has also inspired his family to succeed like him.
Abdul Samad Rabiu is one of the most successful entrepreneurs in Nigeria. He was born in 1960 in Kano to Khalifah Isyaku Rabiu, who was also a businessman. He studied at Capital University in Ohio, USA. When he was 24 years old, he returned to the country to run the family business.
In 1988, Abdul established BUA International Limited for commodity trading, importing rice, flour, oil and steel. Eventually, the company grew and expanded into steel, billet production, and building rolling mills.
Currently, there are 5 subsidiaries of BUA Group, including BUA Ports & Terminals, BUA Estates, BUA Oil Mills Ltd, BUA Sugar Refinery Ltd, and BUA Cement. Forbes estimates Abdul Samad’s net worth at 4.9 billion US dollars, and it is expected to be higher in 2022.
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Mike Adenuga, born in 1953, is the second richest Nigerian entrepreneur with a fortune of 6.5 billion dollars. He received his higher education at Northwestern Oklahoma State University and Pace University.
The company founded by Mike Adenuga, called Globacom, is the second largest telecommunication company in the country.
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