6 Nigerian Billionaires That Can Rescue The Country From Recession


It is no longer news that economic recession is biting hard into the Nigeria’s economy. The economic challenges are multifaceted and cannot be assessed independent of governance variables – systems, structures and democratic processes – which are still struggling to gain identity and function appropriately.

Be that as it may, on the economic side of the argument, some few Nigerians are wealthy enough to collectively or to some extent, single-handedly take Nigeria out of the current milieu. Identified below are 6 Nigerians who are wealthy enough to rescue the sinking boat of the country.

1. Aliko Dangote – Net Worth: $14.7 billion

This 57 year old self-made billionaire is the CEO of Dangote Group. He is the richest man in Africa and richest black in the world. In August 2016, a sum of N510.2 billion was shared among the federal, states and local governments as revenue realised in August. However, this amount only constitute less than 8 percent in the wealth of Dangote. A cheerful part-away or further investment of this wealth could do a lot good for the country.

2. Mike Adenuga – Networth: $4.1billionn

The 62-year old 7th richest in Africa is Nigeria’s second richest man. He built his wealth in telecom and oil production: his mobile phone network, Globacom, is the second largest operator in Nigeria. It also has operations in Ghana and the Republic of Benin. His exploration arm, Conoil Producing, operates six oil blocks in the Niger Delta. Adenuga also owns hundreds of properties throughout Nigeria through his real estate firm Proline Investments. Adenuga’s wealth is equal to the allocation of South west for close to a year.

3. Folorunsho Alakija: Net worth – $2.6 billion

Not many women in Africa could boast of such wealth as that of Folorunsho Alakija, a business tycoon involved in the fashion, oil and printing industries. She is the group managing director of The Rose of Sharon Group which consists of The Rose of Sharon Prints & Promotions Limited and Digital Reality Prints Limited and the executive vice-chairman of Famfa Oil Limited. $2.6 billion. However, not much is heard of corporate social responsibility of this wealthy woman. A venture into this could in a way ease the government its financial burden in some sectors.
4. Theophilus Danjuma: Net worth – $1.1 Billion

The 73-year-old business tycoon is a Nigerian Jukun soldier, politician and multi-millionaire businessman and philanthropist. He was Nigerian Army Chief of Army Staff from July 1975 to October 1979. He was also Minister of Defence under Olusegun Obasanjo. Danjuma is chairman. With a networth of $1.1 Billion, Danjuma is capable of sustaining Osun State for a whole political era.

5. Femi Odetola: Net worth – $1.06 Billion

In the current economic situation of Nigeria, not many could boast of a billion Naira, not to talk of dollar. Femi Otedola is one of the very few Nigerian businessmen who have hit the billion dollars mark. He is Chairman of Forte Oil Plc.

6. Abdulsamad Rabiu: Net worth – $1 Billion

In 2013, Forbes estimated Abdul Samad’s wealth at $1.2 billion, bringing him to the global billionaire’s club. AbdulSamad Isyaku Rabiu CON is the founder and chairman of BUA Group, a Nigerian conglomerate with interests in manufacturing, infrastructure and agriculture with a revenue in excess of $2.5 billion. He is also the chairman of Nigerian Bank of Industry. He completes our list of Nigerian wealthy personalities capable of rescuing the economy.

-Nigerian Bulletin

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