Several factors have contributed to Nigeria’s rise to becoming Africa’s largest economy. One of the most talked about however is its burgeoning population size; 170 million people and growing, making it the most populated black nation. But within this large and diverse pool of individuals, there are some whose contributions have proved significant in propelling this admired economic leap.
Be it in jobs creation, infrastructure development or philanthropic offerings, these businessmen are true heroes in Nigeria’s socio-economic history.
Here are five business leaders currently reshaping the country’s business landscape:
Tony Elumelu: Outspoken business mogul and Africapitalist proponent Tony Elumelu is a rapidly emerging force in Nigeria’s business space. Following a long stay atop pan-African banking group United Bank for Africa (UBA), where he held the position of Group Managing Director, Tony has grown to become a renowned member of the country’s budding economic influencers. He is known for to be aggressive advocate for greater SME support.
Since establishing Heirs Holdings, a proprietary investment group, Elumelu has extended such influence into the hospitality, power, power and agribusiness sectors, largely due to his investment in Transcorp, formerly a state-owned multi-business conglomerate.
Through Transcorp, Elumelu has set out to revolutionize Nigeria’s power and hospitality sectors, with a commitment to raise generation beyond 1000MW and ultimately contribute a quarter of the country’s power needs. Also an N8 billion valued share offer aimed at raising funds for Transcorp Hotel projects in Lagos – Nigeria’s commercial hub – and Port Harcourt – its oil headquarters – further confirm’s Tony Elumelu’s rising image within Nigeria, and Africa’s business space.
Aliko Dangote: Dangote is the founder of multi-business pan-African conglomerate Dangote Group, which started as a small trading firm, in 1977. But today, over 11,000 people under its pay register. Dangote is a market leader in various economic sectors including manufacturing, and Agriculture. His has risen to the top of the cement chain and is now Africa’s biggest producer.
Apart from being Africa’s richest man and the world’s richest black person, Dangote is also known for his philanthropic activities, most of which is channelled through his Foundation. The latest of those is a N150 million donation, provided to support Nigeria’s fight against Ebola.
Mike Adenuga: He is the founder of Nigeria’s first indigenous telecommunication company, Globacom. One of the richest men on the continent, Adenuga is heralded for his incisive move towards sanitizing Nigeria’s telecom market, crashing excessive call prices and data costs. This singular move attracted a host of customers – in excess of 25 million subscribers – and catapulted his firm to Nigeria’s second largest telecommunications operator.
He also holds interests in a diverse portfolio of sectors including Conoil, a fast growing indigenous oil operator. He is Nigeria’s second wealthiest man.
Chief Oba Otudeko: The Chairman of Honeywell Group has been in business since the 1970s, after years of working in several top financial institutions. The company still remains one of the leading conglomerates in Nigeria after decades of operating in varying economic weather.
71-year-old Otudeko is the chairman of FBN Holdings limited and he is the founder of the Oba Otudeko Foundation, an organisation whose primary focus is on human capacity development, education, the environment and public enlightenment.
Apart from his several laudable initiatives that are aimed at improving the lives of Nigerians, Otudeko’s Honeywell Group employs over 10,000 people.
Jim Ovia: Jim is the man behind the success of Nigeria leading financial institution Zenith Bank, growing the banking institution to hold assets valued at $14.15 billion in less than three decades of existence. He also owns leading CDMA operator Visafone Communications Ltd.
Although his emergence in the Nigerian business scene may be recent, Mr Ovia’s strides in banking and telecommunications have been revolutionary and he has been able to build companies that will outlive him as well as provide sustainable career opportunities for job seeking locals, with Zenith Bank currently housing close to 4,000 staff.
