Get To Know 5 Of The Most Successful Male Nigerian Entrepreneurs

By  |  August 2, 2018

Nigeria is one of the places on earth that people regard as ‘‘promising’’. Despite the numerous bottlenecks embedded in her economy, she is yet sailing that ship, besting the waters and maneuvering the boisterous storms that plague the business scene and impede young Nigerians from earning a livelihood off of their handiworks. From the digital city of Lagos to the modernized metropolises in Abuja, the oil-based structures in Port Harcourt, the tech hubs, and innovative facilities spread across the country; Nigeria is fast becoming a force to be reckoned with. Barely two decades ago, the interregnum of military rule was the to-talk-about, after which were the tussles to make Nigeria the beloved state of West Africa.

But now, Nigeria is almost all about entrepreneurship, about using the blessings of your gray matter to produce what people would love and patronize you for. It’s no longer about the myths, legends, and past dictators. The era of being sitting ducks is gone, and what we see now is a new age filled with Avatar-strong entrepreneurial spirit.

Over the last decade, Nigeria has been birthing ventures from all the nooks and crannies of her wombs, business leaders who are making indelible marks in the history of the Giant of Africa and beyond. Virtually in every corner, there are pockets of ventures contributing to the economic growth of the country. It’s no longer about the money—loving men from the East alone but has become a journey of all and sundry.

And out of this great league of masterminds in the country, these five men are regarded as Nigeria’s most successful.

Aliko Dangote

Image result for Aliko DangoteThis entrepreneur comes top on the list because he is as well West Africa and Africa’s most prosperous, having amassed for himself a cornucopia of wealth from his multi-dealing company that sells cement, sugar, noodles, salt, and spaghetti amongst others, all of which are under the control of Dangote Group. Dangote’s company has expanded to be a conglomerate in numerous African countries, all the way from the small, undersized trading firm he used to run.

With Dangote’s hard work and commitments to his work, he has become the face of successful men in Nigeria, West Africa, and Africa, even gaining world recognition as he is listed alongside other business biggies from other parts of the world.

Mike Adenuga

Image result for Mike AdenugaCommitting to and investing in oil and telecommunications, Mike Adenuga has become the third richest man in Africa and the second richest in Nigeria. Mike Adenuga is the owner of Globacom telecommunications – a multinational service provider company based in Nigeria that has now expanded to other parts of the world such as Ghana, the United Kingdom, Canada, France, and Italy amongst others. His network is one of the most user-friendly and cost-effective in Nigeria, especially promising in the attractive data plans he offers to subscribers of the network.

According to the Nigerian Communications Commission, Globacom is now the second largest service provider in Nigeria after MTN, with up to 36 million subscribers.

Femi Otedola

Image result for Femi Otedola

Wherever, his name is mentioned, success rings after. After investing his time and hard work in oil, Femi Otedola has become one of the most talked-about, as even musicians are coining punchlines from his name and story.

Starting out literally on his own and coming to be regarded as the man with the money, Otedola is the CEO of a publicly traded company known as Forte Oil, which is oil marketing and power generation company in Nigeria headquartered in Lagos, Nigeria. According to Wikipedia’s most recent information, he had an operating income of NGN 9.7 Bn in the third quarter of 2017 and amassed a total revenue of NGN 96.8 billion in the same period. Forte oil has numerous filling stations spread throughout Nigeria, and Femi Otedola’s daughter, DJ Cuppy is now one of Nigeria’s finest in the music and entertainment industry.

Orji Uzor Kalu

Image result for Orji Uzor Kalu

This man’s climb up the ladder of success is a narrative truly amazing, having become a millionaire already as at when he was still in his twenties, meaning that he had to have been listed among successful Nigerian under 30s.

The first of his fortunes was made from the retail of products such as palm oil, rice, and sugar, after which he went on to found his company known as SLOK Holdings. The company operates in oil and gas, banking and finance, media and publishing, real estate, trading, manufacturing, insurance, and tourism.

After Anthony Obi, he served as the seventh governor of Abia State, Nigeria from 1999 to 2007 and is the chairman of First International Bank Limited, as well as Daily Sun and New Telegraph newspapers in Nigeria. New Telegraphs circulates no less than 100, 000 copies per day and Daily Sun is able to do more than 135,000.

Abdulsammad Rabiu

Image result for Abdulsamad RabiuFathered by one of Nigeria’s foremost industrialists, Khalifah Isyaku Rabiu, in the 70s and 80s, Abdulsammad took after his father in the business world and became an entrepreneur himself – and a successful one at that. He is the founder and chairman of the BUA Group, a Nigerian conglomerate that has interests in manufacturing, infrastructure, and agriculture, with a revenue excess if USD 2.5 Bn.

Abdulsammad Rabiu is also the chairman of the Nigerian Bank of Industry (BoI), a platform that has been in support of SMEs from time in memorial. Forbes, in 2013 estimated his net worth at USD 1.2 Bn, a proclamation which made him an affiliate of the global billionaires club. BUA, which was the company that bought the , which is the largest edible oil processing company in Nigeria, is also used by Abdulsammad Rabiu as a means through which he practices philanthropy. He constructed a 7,000 square kilometer pediatric ward at the Aminu Kano Teaching Hospital and the build the Centre for Islamic Studies at the Bayero University Kano.  

Keep to tabs with us, as more of such stories will be brought to you by Weetracker.

Most Read

The Plot Behind The Growth Tear At Moniepoint And Its Biggest Test Yet

Nigerian fintech startup, Moniepoint, is on a growth tear demonstrated by news of

Buyouts & Mergers Offer Lifeline To African B2B E-commerce In Tough Times

Consolidation is emerging as a lifeline for business-to-business (B2B) e-commerce startups in Africa,