Nigeria’s Sani Bello was on the list but he fell from the ranks of Africa’s richest in 2014 after he sold his shares in a Nigerian oil exploration firm and stepped down as director of the company.

His Sani Bello foundation provides small loans and grants to young Nigerian entrepreneurs. His estimated worth, which was $500 million on 2013, fell below $400 million in the following years.
The oldest person on the list is 75 – Theophilus Danjuma. The youngest is Femi Odetola, age 48. There is only one woman on the list
Meet Forbes List of Nigeria’s Richest People
13. Oba Otudeko
Net Worth: $550 Million (As of November 2014)
Rank In Nigeria: #13

Rank In Africa: #46 (#33 in 2013)
Oba Otudeko is the founder and chairman of Honeywell Group.
The conglomerate’s operations stretch across oil and gas, flour milling, real estate and marine transportation.
Another piece of his fortune is in the oceanfront Radisson Blu in Lagos, Nigeria
12. Hakeem Belo-Osagie

Net Worth: $600
Rank In Nigeria: #12
Rank In Africa: #41 (#34 in 2013)
Hakeem Belo-Osagie is the chairman of Etisalat Nigeria.
His father was the gynecologist to the family of former Nigerian military president Ibrahim Babangida. Through that connection, he was able to secure a job as a Special Assistant to the Presidential Adviser on petroleum and energy and later as Special Assistant to the Minister of Petroleum and Energy, positions which he admits put him in a position to close on a few oil deals from where he made his first fortune.
In 1998, he acquired a controlling stake in the United Bank For Africa, but was ousted out by the Central Bank in the wake of allegations of fraudulent practices orchestrated by him.
He also owns First Securities Discount House, a money markets and Treasury bill trading and financial services firm in Nigeria.
He is one of the sponsors of a new $120 million shopping mall currently being developed in Jabi Lake in Abuja, Nigeria’s capital.
11. Tunde Folawiyo
Net Worth: $650 Million
Rank In Nigeria: #11
Rank In Africa: #39 (#50 in 2013)
Tunde Folawiyo is the managing director of the Yinka Folawiyo Group, conglomerate with interests in energy, agriculture, shipping, real estate and engineering.
His father, Wahab Folawiyo, a well known Nigerian businessman and Islamic leader, started the group in 1957 as a commodities trading outfit and served as chairman until 2008 when he passed away. Folawiyo now calls the shots.
The company’s oil exploration firm, Yinka Folawiyo Petroleum, owns a 60% interest in an oil block that contains the Aje offshore field.
Other assets include minority stakes in Nigeria’s Access Bank and mobile phone carrier MTN Nigeria.
10. Mohammed Indimi

Net Worth: $670 Million
Rank in Nigeria: #10
Rank In Africa: #37 (#34 In 2013)
Mohammed Indimi founded Oriental Energy Resources, a privately held Nigerian oil exploration and production company.
He remains chairman. Oriental currently has three projects offshore of Nigeria. Six of his children serve on the company’s board.

9. Abdulsalam Rabiu

Net Worth: $700 Million
Rank In Nigeria: #9
Rank in Africa: #33 (#23 in 2013)
Abdulsamad Rabiu runs BUA Group, a conglomerate active in flour milling, pasta manufacturing, ports and terminals management and sugar refining.
The group stopped operations at its BUA Cement unit, a cement trading business, after the Nigerian government banned imports of bulk cement in 2013.
BUA Group operates two cement plants in Nigeria and reportedly spent $500 million for a new cement plant in Nigeria’s Edo State that is expected to open in early 2015.
Rabiu, the son of a businessman, set up his own business in 1988, importing rice, sugar and edible oils as well as iron and steel rods.
8. Jim Ovia
Jim Ovia
Net Worth: $850 Million
Rank In Nigeria: #8

Rank in Africa: #30 (#28 in 2013)
In July, banker Jim Ovia was appointed as chairman of Zenith Bank Group, the same bank he founded more than 20 years ago.
He remains the bank’s largest individual shareholder with a 9.3% stake.
His other assets include real estate across Nigeria, and Visafone.
In August, he started construction on a $1.5 billion petrochemical complex in Akwa-Ibom in Nigeria.


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