Photograph — Forbes

The latest Forbes World Rich list released yesterday profiled  over 1,ooo billionaires across the globe.  The volatile stock markets, cratering oil prices and a stronger dollar led to a dynamic reshuffling of wealth around the globe and a drop in ten-figure fortunes for the first time since 2009, Forbes noted.

Despite some of these challenges, it is important to note that five Nigerians made the list of world billionaires. Although not retaining the same positions as last year, the five Nigerians who made the 30th annual guide to the globe’s richest list are : Aliko Dangote , Mike Adenuga, Femi Otedola, Folorunsho Alakija and Abdulsamad Rabiu.

  1. Aliko Dangote

Aliko Dangote, President and CEO of Nigeria's Dangote Group speaks during the final session of the World Economic Forum

Aliko Dangote, CEO Dangote Group; largest conglomerate in West Africa retains his position as Africa’s richest man and the 51st world richest man with a net worth of $15.4 billion. Dangote’s source of wealth is built around sugar, cement and flour with intended plans to invest in oil.  Dangote’s 51st position sees him rise above 67th position last year.

  1. Mike Adenuga

Mike Adenuga

Nigeria’s second richest man, Chief Mike Adenuga, Chairman of Globalcom; the second largest operator in Nigeria has a net worth of $10 billion. Mike Adenuga made his first fortune trading lace and Coca-Cola but currently makes his fortune from investment in telecommunications and oil. Mike Adenuga currently ranks 103rd richest person in the world compared to last year’s 393rd and a net worth of $4.2 billion despite the effect of the dwindling oil prices on his company.

  1. Femi Otedola


Femi Otedola controls Africa’s largest marketing company, Forte oil, which has more than 500 gas stations across Nigeria. He is also the chief executive officer of Zenon petroleum and Gas limited; a dominant force in the diesel business (manufactures its line of engine oil). Otedola’s Zenon gas is consumed by top manufacturing companies in Nigeria which includes Dangote Group, coca cola, MTN, Guinness, among others.   Like Mike Adenuga, Femi Otedola net worth rose from $1 billion to $1.8 billion and now ranks 1011th richest person in the world compared to 1714th position  in 2015.

  1. Folorunsho Alakija


She is the second most powerful woman in Africa and a business tycoon. Folorunsho Alakija is the managing director of the Rose of Sharon Group and the executive Vice chairman of Famfa oil Limited. She is also known for her philanthropic act of helping widows and orphans.  Folorunsho Alkajika’s net worth fell from $2 billion in 2015 to $1.6 billion and currently ranks 1121st on the list.

  1. Abdulsamad Rabiu

Abdulsamad Rabiu

Abdulsamad Rabiu is an influential business man and the founder and chairman of BUA Group, a privately own conglomerate active in sugar refining,cement production, flour milling, among others. Rabiu set up his own business in       1988 after working for his father and started importing rice, oil, iron rod and steel. Rabiu is the 23rd richest African and well respected for his generosity was currently ranks the 1577th richest person in the world with a net worth of $1.11 billion.

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