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Exclusive List of 11 Richest Nigerians in 2011: Their Net Worth, How They Got Rich

By | April 14, 2012

No 8. Femi Otedola:

Networth: $470 Million
Age: 45
Source: Oil & Gas, Shipping
The son of former Lagos state governor Sir Michael Otedola. Femi Otedola is the founder and Chief Executive Officer of Zenon Petroleum and Gas Limited, arguably the biggest diesel and kerosene marketing company in Nigeria. Zenon is the major supplier of diesel to many of the country’s major manufacturing and telecom companies like Cadbury, Nigerian Breweries, Unilever, Nestle Plc and MTN.

Some years back he acquired controlling stake in African Petroleum (AP) and attempted merging the giant petroleum marketing company with his Zenon petroleum a move which did not materialise.

He also owns Atlas Shipping Agency, Swift Insurance and Seaforce Shipping Company.

In 2009 he made Forbes list of Billionaires alongside Aliko Dangote but has since dropped down after AP shares depreciated drastically and thus affected his networth. Still he is rich enough to make our top 11 list.

View Next >> – No 9. Hakeem Bello Osagie

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13 thoughts on “Exclusive List of 11 Richest Nigerians in 2011: Their Net Worth, How They Got Rich

  1. Chuks

    I hereby bless all the 11 eminent and notable Nigerians who made this exclusive list. I am decreeing and praying for Aliko Dangote to become the World’s richest man in the soonest possible time. African Entrepreneurs will dominate the world because we are here to stay. Thank you Naira Brains for this post.

    May the winds of Prosperity avail us all much good.

  2. Yahaya

    Some of your info are incorrect. Sayyu Dantata is not a cousin of Aliko Dangote, rather he’s his half-brother as both are the sons of Dr. Mariya Sanusi Dantata.

    1. Paul Eze Post author

      Thanks for stopping by and taking the time to point somethings out

  3. Maureen peres d yerinmene

    I aknowledged the effort of alhaji aliko dangote for emerging the richest man in the africa and 76th man in the world today. I pray may the good lord gives him the strength and the desire to become the richest man in the world just as carlos slim and bill gate in the world today

    1. Paul Post author

      The amounts are in US Dollars as indicated in the article

  4. FaithKeen

    I applause Mr. Aliko Dangote if you is giving back to the people in his country to give them a better life and to grow the country because I like to visit there one day.

  5. Ikenna

    I think there are more richer Nigerians, is this list really exhaustive?

    1. Paul Post author

      This is not meant to be an exhaustive list. We try to showcae the richest 11 in 2011. However we also carry more research to expand the list. The challenges of access to information and record keeping also affects compilation of lists like this.


    I want to be associated with Aliko Dangote for the funding of my NGO’S projects.
    They need to know how peace must reign in our nation Nigeria.

    Also for my personal development and some community development.

    Thank you.

    Best regards


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