The Richest Yoruba Man In Nigeria: Top 8

 

The Richest Yoruba Man In Nigeria

The list of  Richest Yoruba Man In Nigeria is been based on the value of their shares held in quoted companies, the size and market share of their companies, the number of companies they own and its assumed value, the market value of their company’s brand and the impact of their companies on the Nigerian economy.

The successful entrepreneurs listed below are Nigerian yoruba billionaires who have built very successful businesses and huge amount of personal wealth.

Check out the list of 'The Richest Yoruba Man In Nigeria - Top 10' below.

1. Mike Adenuga (Net Worth: $4.6 Billion)

This is the richest Yoruba man, the second richest man in Nigeria and the 6^th in our continent. The telecom tycoon and oil man (if that`s a correct English).

He founded Glo in the year 2003 and has since then become the second most popular telecom company in Nigeria (after the South African giant, MTN).

Whenever you see Conoil in the street of Nigeria, this is the owner. Conoil is an oil exploration firm which owns at least 3 producing oil blocks and exploring for oil on 4 others.

Adenuga started his business career by trading in Coca Cola products and lace. Some rumour has it that he later made friends with some government leaders and won some government contracts.

2. Femi Otedola (Net Worth; $900 Million )

Femi Otedola of Nigeria is the controlling shareholder of publicly traded Forte Oil, an oil marketing and power generation company. Originally a Nigerian subsidiary of British Petroleum (BP), Forte Oil has more than 500 gas stations across the country.

This man was reported to make near $400 million in just 90 days in the year 2015 when the share of his Forte Oil Plc earned 176% increase in the stock market.

It owns oil storage depots and manufactures its own line of engine oils. In 2013, Otedola led the company to purchase a government-owned stake in a gas-fired power plant in Kogi state in central Nigeria. 

In September 2015, Swiss commodities giant Mercuria said it would acquire a 17% stake in Forte Oil for $200 million; as of late February 2016 the transaction is not yet complete. 

Otedola's daughter, Ifeoluwa, is a popular disc jockey who goes by the moniker 'DJ Cuppy'. She was the official disc jockey during the May 2015 inauguration of Nigeria's President Muhammadu Buhari. 

Otedola is a fitness buff, spending at least one hour in the gym every day.

3. Tunde Folawiyo – (Net Worth: $650 million.)

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.

4. Oba Otudeko (Net Worth: $650 million.) 

Oba Otudeko is the founder and chairman of Honeywell Group and is also the chairman of FBN Holdings Plc. 

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. 

5. Prince Samuel Adedoyin– Doying Group (manufacturing)

Samuel Adedoyin is the Founder of Doyin Group of Companies Ltd and serves as its Executive Chairman and Chief Executive Officer. Dr. Adedoyin had his early life in the rich and social-cultural setting of Agbamu. 

Dr. Adedoyin is a philanthropist, simple, diligent, intelligent, dynamic, shrewd and innate business-man who combines these rare qualities that differentiates him from his peer industry and commerce. 

His business interest spans Manufacturing, Real Estate, Banking, Hospitality Industry, the Energy Sector etc . 

6. Dele Fajemirokun

Photo credit: Channels tv

 
Chief Dele Fajemirokun serves as Chairman of Food Concept and Entertainment Plc. Chief Fajemirokun has served severally on the Board of many companies in various capacities both as Chairman and Director. 

He is the Chairman of AIICO Insurance Nigeria Plc, Xerox HS (Nigeria) Limited, Kings Guards Limited, Logic Sciences Limited, Spar Aerospace and GS Telecom amongst others. 

He is a Business Economics graduate from the University of Ife (now known as Obafemi Awolowo University). He also holds a Doctorate Degree in Business Administration from the University of Los Angeles, in the United States of America.

7. Fola Adeola – GTBank

One of his Fola’s notable achievements was the establishment is Guaranty Trust Bank which he founded in 1990 together with his long time friend Tayo Aderinokun. 

He assumed the role of managing director right after its inception and held the post for 12 years until July 2002 when he voluntarily retired and handed over to his deputy Tayo Aderinokun. 

GT Bank has grown to be a force of its own in the banking sector of Nigeria, it has even enlarged it’s coast to other countries including The Gambia, Sierra Leone, Ghana, Liberia and even the UK.

8. Chief Ade Ojo

Micheal Ade-Ojo, OON (June 14, 1938) is a Nigerian business magnate and founder of Elizade University in Ilara-Mokin Ondo state, Nigeria and Crown Drinks Limited amongst others.

He is also on the Board of a number of companies including Custodian & Allied Insurance Plc, FCMB Plc, ECOBANK Plc, Toyota Nigeria Limited and Moore House Sofitel Company Limited.

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Also check out: The Richest Igbo men In Nigeria: Top 3

Source: Ontop24