In the latest release, nine others made the billionaires club to join Africa's Richest man Aliko Dangote with a net worth of $12.5 billion
Dangote was ranked as the 24th richest man in the world in 2014 but has since then fallen to positions below 100 due to Naira's depreciating value.
Others on the rich men's list, according to Forbes ranking, are: Globacom and ConOil Chairman Mike Adenuga with a net worth of $10.5 billion, with interest in oil and gas and telecoms and Zenon Oil and Gas and Forte Oil Plc Chief Executive Officer Femi Otedola, who has interest in real estates amongst other sectors with a net worth of $2.3 billion.
Also in the club are: business tycoon Mrs. Folorunsho Alakija, who has interest in fashion, oil and printing industries. Mrs Alakija, who is the richest African woman has a net worth of $2.1 billion; former Chief of Army Staff (COAS) Gen Theophilus Danjuma, who is the Chairman of Atlantic Petroleum with a net worth $1.7 billion and BUA Group Founder Abdusalam Rabiu, who has interest in sugar refining, cement production, real estate and port operations.
In September 2015, the BUA Group signed a $600 million deal with a Chinese cement equipment service provider Sinoma International Engineering to construct a second production line in Edo State. He is worth $1.5 billion.
The others are: United Bank for Africa and The Tony Elumemu Foundation Chairman Mr. Tony Elumelu. The philanthropist is worth $1.4 billion. There is also former Abia State Governor Orji Uzor Kalu. The Slok Holding founder and Chairman runs a conglomerate with interest in shipping, banking, oil, trading, manufacturing and the media. He is worth $1.1 billion.
Zenith Bank Founder and Chairman Jim Ovia is the largest shareholder with a stake of almost 10 per cent. Ovia is worth $1 billion.
The Chairman and Founder of the Honeywell Group, Oba Otudeko is said to worth $650 million. He is the chairman of FBN Holdings Plc. His operations spread across oil and gas, flour milling, real estate and marine transportation.
Below are top 10 richest men in Nigeria according to Forbes ranking 2017, ranging from the least to the top.
10. Oba Otudeko:
Oba Otudeko is the Chairman and founder of the honeywell group.
He is also the chairman of FBN Holdings Plc. His operations spread across oil and gas, flour mining, real estate, and marine transportation. Net Worth: $650 million.
9. Jim Oviah:
Jim Oviah is the founder of Zenith Bank. He is the chairman and the largest shareholder with a stake of almost 10%.
He also manages a mobile telecom Visafone which has over 3 million subscribers. Net Worth: $1 billion.
8. Orji Uzor Kalu:
The former governor of Abia State. He is the founder and chairman of Slok Holding. A conglomerate with interest in shipping, banking, oil, trading, manufacturing and the media. He became a real business man at the age of 19 after being expelled from a Nigerian University for allegedly spearheading a series of student riots. Net Worth: $1.1 billion.
7. Tony Elumelu:
A philanthropist and founder of the Transcorp and Heirs Holdings. He was the chairman of United Bank for Africa and was estimated to worth $1.4 billion.
6. Abdusalam Rabiu:
Abdusalam is the founder of the famous BUA Group. A conglomerate active in sugar refining, cement production, real estate and port operations. In September 2015, his Group signed a $600 million deal with a chinese cement equipment service provider Sinoma International Engineering to construct a second production line located in Edo State Niger Delta, Nigeria. Net Worth: $1.5 billion.
5. Theophilus Danjuma:
Former Nigerian Chief of Army staff between 1975 to 1979. He is the current chairman of Athlantic Petroleum. Net Worth: $1.7 billion.
4. Folorunsho Alakija:
Folorunsho is a business tycoon who has interest in fashion,oil and printing industries. She is the richest Woman in Nigeria and the richest woman of the African descent in the world. Net Worth: $2.1 billion.
3. Femi Otedola:
He is the CEO of Zenon Oil and Gas and Forte Oil Plc. He has interest in real estates amongst other sectors. Net Worth: $2.3 billion.
2. Mike Adenuga:
Mike Adenuga is the second richest man in Nigeria with interest in Oil and Gas and telecoms. He is the owner of Globacom, Nigeria's second biggest telecom operators and the chairman of Conoil. Net Worth: $10.5 billion.
1. Aliko Dangote:
Aliko Dangote is the richest man in Nigeria, Africa and of course the richest black man in the world. In 2014, he ranked as the 24th richest man in the world but has since then fallen to positions below 100 due to Nigeria's poor Naira. Net Worth: $12.5 billion.