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

Femi-OtedolaNo 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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15 thoughts on “Exclusive List of 11 Richest Nigerians in 2011: Their Net Worth, How They Got Rich

  • 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.

    • Hey you there….I think you should change that prayer you just made on this post! You are praying for them to be the richest? Who says you yourself cant surpass them? If everybody prays that kind of prayer, nobody will be rich! We all would be mediocres. We will leave them to keep exploiting us. I myself dont wish them bad but I think you should change that statement using yourself as d point of contact. Most of the people on this list are not christians, this makes muslims to boast that Allah is blessing them more than our Lord Jesus does to his people. You should be praying that you would some day appears tops on this. Pls think more positively………God bless You!

  • 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.

  • Maureen peres d yerinmene · Edit

    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

    • 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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