25 ‘Silent Billionaires’ In Nigeria And Their Net Worth

Nigeria is known as the giant of Africa and the continent’s richest and most populous country with a population of 218,541,212 as of 2022.

Surprisingly, amidst the hardship and high rate of unemployment associated with its economy, Nigeria boasts of industrious and imminent individuals who are successful in their various paths and a force to reckon with in Africa and the world at large. Some of these are billionaires and business moguls who have contributed in one way or the other in registering Nigeria on the Global map and have also shaped the perception of the country in the business world.

This includes to mention but a few, Nigerian Oil and Gas mogul, Femi Otedola, Chairman of the Dangote Group, Aliko Dangote, Economic and Philanthropist, Tony Elumelu, etc. These are popular names in the monetary history of the country and even a five-year-old child would mention their names without missing a letter.

However, as popular as these people are, Nigeria is blessed beyond just having these few individuals as its sole wealthy population. There are many other rich folks whose names are not often in the news, unlike the trio of Otedola, Dangote, and Elumelu. These categories of rich folks are called ‘the Silent Billionaires’. The mystery of it all is that they are as stinkingly rich as other famous billionaires the country has produced.

Let’s take a look at some of these ‘silent billionaires’ and their net worth.

Isah Muhammad GerawaHe is the founder of the Gerawa Group of Companys with subsidiaries like Gerawa Rice Mill Limited, Gerawa Oils Mill Limited, and Gerawa Petroleum Limited.
In 2018, he invested $50 million to build the Gerawa Oil Mills factory, the only indigenous plant in Tokarawa Industrial Estate in Kano and the biggest single oil mill in West Africa. His net worth is estimated at $200 million.

Chinedu Benson MadubukoHe is the founder and chairman of the Chiko Group, a manufacturer and distributor of roofing, installation, sheeting, and related materials with over five locations across Nigeria. He is also the founder of Nigerian socialites, Men like Chiko. In 2021, he constructed and commissioned 16 roads in Anambra State spending over $3 million from his personal pocket.
Born in 1963, Madubuko hails from Adazeani Local Government Area of Anambra State. Where he holds the traditional title of Ezeani Chani Cha’du. His net worth is estimated at $200 million dollars.

Musbahu Muhammad BashirHe is the chairman of Althani Group of Companies and Cobalt International Services Limited. He is also the owner of Mafab Communications, a new telecoms firm and a pioneer in the 5G network spectrum in Nigeria. He has made a wide variety of investments, cutting across the banking, insurance, oil and gas, real estate, telecoms, maritime, and aviation, thus helping the Nigerian evolving economy and its job market. His net worth is estimated at $250 million.

Abdul Wasiu O. SowamiHe is the Chairman of Ignite Investments and Commodities Limited and Ardova Plc. He acquired Femi Otedola’s Forte Oil Plc in 2019. He was reported to have paid $250 million for the acquisition. His Prudent Energy company also completely acquired a 100 percent equity stake in Enyo Retail in 2021. His net worth is estimated at $250 million dollars.

Tunde Hassan-OdukaleHe is the chairman of Leadway Insurance Limited. In 2021, he became the chairman of First Bank of Nigeria Limited after the CBN sacked all the board of directors of the bank. He was also confirmed as the highest shareholder of First Bank after accumulating a 5.36 percent stake in the company. He is also on the board of directors of various blue-chip companies. His Net worth is estimated at $300 million.

To be Continued…