Oil & Gas, Politics, Real estate, Trades and Royalties are what makes up about 90 percent of the wealth among the Richest Families In Nigeria
For those who had to grow up in families with low or mid income, there are certain luxuries that they can never afford or lifestyles they can’t have taste of. Families with huge wealth tend to have lots of influence and ‘say’ in the happenings around the country.
Most of the riches and wealth of these families are either inherited or built around patriarchs who in the early years of Nigeria’s history made their wealth. These families have lots of power and can determine the turn out of the economy in the country.
Whatever attempts to create an exhaustive list or ranking of Nigeria’s wealthiest families would be frustrated by the clear absence of public records or any form of honesty from the members as to how much they are worth.
All attempts to create a detailed list of the Top 10 Richest Families In Nigeria were prooving futile, until after thorough research it was finally compiled by MANUCHE, a YouTube channel.
In no particular order the Top 10 Richest Families In Nigeria includes;
1. The Dantata/Dangote Family
Everyone knows about Aliko Dangote, an excellent businessman and the richest black man alive. The relationships that helped built his success in business along with the families that have been built around them are not exactly known. It however begins with Chief Al-Hassan Dantata who was alive during the height of colonial rule, from the year 1877 to 1955. Chief Dantata was a very Popular Northern Nigerian trader in kola nuts and ground nuts and distributor of European goods.
He was one of the major suppliers of raw materials to developed British trading companies also having business interests in other West African countries. Raw materials were mostly supplied to large British trading companies by Dantata’s company with the Britsh trading company also having business interests in the Gold Coast. At his demise he was among the richest men in the whole of Africa.
The family of Dantata & Dangote has produced the smartest businessmen in Nigeria’s recent history including Mamuda Dantata who spread the family’s interests across West Africa and Mudi Dantata who passed in 2005. The most notable, Aliko Dangote, is the elder Dantata’s great-grandson.
2.The Tinubu Family
The name Tinubu is heavily revered and commands a very huge respect in Nigeria, Lagos especially.
There are pending uncertainties about the father of former Lagos State Governor Bola Tinubu, as this posed certain challenges in really getting to ascertain the true extent of the family’s ties.
The mother of Bola Tinubu, Chief Abibatu Mogaji was a very rich businesswoman and Lagos trader as well as being one of the most influential community leaders. Before her death in the year 2013, Tinubu’s mother Abibatu was the President-General of the Association of Nigerian Market Men and Women.
Tinubu popularly referred to as The Lion of Bourdillion lived most of his professional life as an Executive at Mobil, before finally going into politics in 1992. Among the many controversies surrounding Tinubu is the fact that he is constantly being charged or invited with storing wealth in numerous foreign accounts.
He is also believed to have had huge investments in most of Lagos’ prime real estate.
3. The Igbinedion Family
The Igbinedion family located in Okada is one of the most revered families in Edo State and one of the most powerful and richest families in Africa as a whole.
The leader of the family, the Esama of Benin, is a chief in the kingdom of Benin conferred by Oba Akenzua II.
The journey to the top was never easy even for the Esama of Benin. He is said to have started off as a police officer before later going into Automobile business, first as an employee then later becoming in charge of his own business.
On gaining control of his own Car businesses he began expanding from there starting a stream of successful businesses including the now-defunct Okada Air, the Igbinedion University, Kada cinemas & Plaza and finally Igbinedion Television popularly known as ITV. He also owns investments in real estate in London and South Africa.
Aside from him, his family has succeeded in the business and politcal scene also (largely on his influence though), his son, Lucky Igbinedion was a Governor of Edo State, from 1999 to 2003. His daughter, Omosede Igbinedion is currently serving in the Federal House of Representatives, as the lawmaker representing Ovia North Federal Constituency.
The Igninedion family are also known for their extravaganza and philanthropic activities. On his birthdays, large parties are thrown with lots of royalties present. He also allows people from everywhere to come and celebrate with him throwing an open buffet.
4. The Folawiyo Family
The family of the Folawiyos were placed on their path by Chief Wahab Folawiyo. He studied at the University of North London and on his return in 1951 he established Yinka Folawiyo and Sons, an import and export business.
The company later was transformed to Yinka Folawiyo Group while Yinka Folawiyo & Sons still remained as the de jure parent company, becoming involved with energy, agriculture, shipping and real estate
While he was alive folawiyo was a very philanthropic person as he invested time and money in the Muslim community, showered the professorial chair at the University of Lagos and upgraded the University of Lagos’ health centre to a full-fledged hospital.
After the demise of wahab folawiyo, his son Tunde Folawiyo took charge of the company and has been doing a fantastic job ever since.
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5. The Saraki Family
The Sarakis are not just one of the most powerful and respected families in Nigeria, they are also among the richest families in Nigeria.
The Nigerian senator, Bukola saraki is current the most prominent member of the family but his rise to power was largely influenced by his own father Olusola Saraki.
Olusola Saraki, the father of bukola Saraki was before his death in 2012, a senator in Nigeria’s Second Republic and a chairman of the now-defunct Societe generale bank.His unlimited reach and connections heavily influenced his children’s growth in politics
Bukola Saraki served as Governor of Kwara for two terms before later joining the Senate. His sister, Gbemisola is also a senator. This might perhaps be due to its presence in politics and public service, the family has however managed to keep most of its financial dealings private.
A recently-released Publication, paradise Papers might however suggest the presence of real estate assets outside the country.
6. The Adeleke Family
Although the name is now a common name known by most Nigerians because of Davido, back in 2011 it was not this popular but it was still rich.
The Adeleke Family is centered around the band of brothers; Adedeji Adeleke, Ademola and Isiaka Adeleke.
The former, Adedeji Adeleke, is the founder and Chief Executive of Pacific Holdings Limited which has investments in real estate, banking, transport and oil. He is also the founder of Adeleke University, a privately-owned tertiary institution in Ede, Ondo State.
The senator Ademola Adeleke is mostly known for his emotive, playful dancing. The former scholar is the Senator representing Osun-West Senatorial District.
It is a role he came to hold after the demise of his brother, the late Isiaka Adeleke who was a stalwart of the PDP in his home state.
The family’s younger generation is however more involved in music and entertainment with David Adeleke also known as Davido the leading voice being one of the biggest afro-pop stars of his generation. Bayo and Sina, his cousins, have also enjoyed moderate success as musicians.
7. The Abiola Family
Even after decades of the death of its patriarch, the ever-loved M.K.O Abiola in the late 1990s, the larger Abiola family is still one of the richest families in Nigeria, an outstanding feat considering how big the family is and the fact that most of its wealth is a function of the personal wealth Abiola amassed in his lifetime.
Before his decision to run for office in 1993, Abiola was seen as the richest man in Nigeria. His effusive philanthropy was matched by the extent of his business investments, stretching from banking, finance and education to transport, publishing and oil.
Since his death however, his children have continued to increase and enjoy their father’s wealth. The most prominent of them, Kola Abiola managed what’s left of his father’s companies, choosing to maintain a low profile.
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8. The Danjuma Family
The Danjuma family is well respected, connected and one of the richest families in Nigeria but owes its wealth largely to Theophilus Danjuma, who is one of the most influential persons in Nigerian history
After participating in some of the more notable coups, he was Chief of Staff of the Nigerian Army from July 1975 to October 1979.
History has it that part of his bounty was the right to one of Nigeria’s fabled oil blocks. Danjuma is the chairman of South Atlantic Petroleum.
His brother, the lesser known Musa Danjuma, has his hands in trade and shipping as the Executive Chairman of Nigeria America Line Limited and Comet Shipping Agencies.
The most prominent member of the second generation is Yuki Danjuma, a son of T.Y. Danjuma who manages the family’s real estate portfolio as the co-founder of Attollo Realties.
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9. The Briggs Family
The Briggs Family is one of the richest families in Nigeria coming from the heart of the oil-rich Niger Delta, the region and the country at large.
The family’s patriarch, Chief O.B Lulu-Briggs is one of the wealthiest Nigerians alive. Most of this is traced to his ownership of the private oil and gas exploration and production company, Moni Pulo Limited.
According to a Forbes publication “Moni Pulo was awarded its first oil block in 1992 when the Nigerian president at the time, Ibrahim Babangida, was encouraging indigenous participation in the upstream sector of the oil and gas industry.
The company currently has oil blocks in Abia state, Ondo and Akwa-Ibom state. Its flagship project, OML 114, produces 10,000 barrels per day.
Along with his wife who is a pastor, he funds the O.B Lulu Briggs Foundation, which provides humanitarian services to rural communities.”
10. The Ibru Family
The Ibru Family are from the town of Agbarha-Otor, near Ughelli in Delta State. The family’s original patriarch was Chief Peter Epere Ibru.
Their son, Michael Ibru founded the Ibru Organisation, an umbrella firm to manage the family’s future businesses and assets.
In the very same year, he decided to partner with Jimmy Large, an Englishman, to form the Laibru general trading company, and also bought a share of Ace Jimonma, a construction firm.
Ibru was a pioneer in distributing frozen fish in Nigeria; a trade which is worth billions in naira every year. Through acquisitions and joint ventures, he grew the original organisation to have interests in brewing, construction, petroleum, agriculture and industry.
The family’s wealth has been based largely on a host of joint deals, with the death of the brothers/founders not affecting things with the new generation has picked up the charge with ease.
The Ibru family owned the now-defunct Oceanic Bank and Aero Contractors.
The Ibrus own among many other things, the Guardian Newspapers, Federal Palace Hotel and Michael and Cecilia Ibru University in Delta State, with massive real estate investments the world over.