Top 10 Nigerian Families That Can’t Never Be Poor Again

The difference between the rich zone and the poor zone is a thin line and it took the risk takers alot of sacrifaces to cross the line differentiating the two zones. Remaining in the difference zones is greasing each zones with our daily routines where the passive income comes to play.

 

Lets take a look at the top 10 family names that can never run into poverty again.

1. The Otudeko Family: The founder of the Honeywell Group and chairman of FBN Holding Plc has an estimated worth of $650 million. He is also the chairman of FBN Holding Plc. The Oba Otudeko worked as banker for over 2 decades rising to the position of Chief Executive Officer of the Cooperative Bank in Ibadan and has investments spread across different sectors which include oil and gas, trading, financial services, real estate and marine transportation.
2. The Ovia Family: The family behind the success story/chairman of Zenith Bank, the founder of Visafone Communications Limited before acquired by MTN. The family having an estimated net worth of $1 billion responsible for leading Zenith Bank to become one of the largest and most profitable banks in the country. The Ovia family is the chairman of the Nigerian Software Development Initiative (NSDI), Cyberspace Network Limited and the National Information Technology Advisory Council (NITAC). Additionally, the family is a member of the Honorary International Investor Council as well as the Digital Bridge Institute (DBI).
3. The Orji Uzor Family: The one time Abia State Governor family still chairing the SLOK Holdinga State. Their investments include the Daily Sun and the New Telegraph newspapers boosting of a net worth of about $1.1 billion. The family started by building several successful businesses with the $35 which received as a loan from Orji’s mother where the loan was used to trade palm oil which was bought from the South East and sold to the market in the North. Following the success of his palm oil business, the family moved to another line of business which was selling furniture on a large scale. Eventually, SLOK Holding was established which is conglomerate comprising Ojialex Furniture Company, SLOK Nigeria Limited, SLOK United Kingdom Limited, Adamawa Publishers Limited, SLOK Vegetable Oil,Aba, SLOK Paper Factory, Aba, SLOK United States Incorporated, SLOK Ghana, Togo, Cotonou, Guinea, South Africa, Liberia, Botswana, SLOK Korea, Supreme Oil Limited, SLOK Airlines, Sun Publishing Limited, and First International Bank Limited.
4. The Elumelu Family: The familly with an estimated worth of $1.4 billion. The family investments include Heir Holdings, the United Bank for Africa and the Transcorp. The founder of the Tony Elumelu Foundation which has empowered thousands of entrepreneurs across Africa. the family was known for their role in the acquisition of Standard Trust Bank and catapulting them to become one of the top banks in the country. In 2005, the family also acquire United Bank for Africa which was transformed from a Nigerian bank to a pan-African institution with presence in 19 African countries. The Elumelu family has an investments in financial services, energy, real estate, hospitality, agribusiness and the healthcare sectors through their investment company, Heir Holdings The family chaired the Ministerial Committee to establish world-class hospitals and diagnostic centres across Nigeria also served as a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL).
   
5. The Rabiu Family: The family has an estimated net worth of $1.5 billion having an investment in the BUA Group established in 1988. The company has grown over the years to become a conglomerate worth over $2.5 billion with interests in manufacturing, infrastructure and agriculture.The company acquired the Nigerian Oil Mills Limited and also acquired a controlling stake in the Cement Company of Northern Nigeria some years ago. The BUA Group has the second largest sugar refinery in the country. The family is also chairing of the Nigerian Bank of Industry. The family gives back to the society through the BUA Foundation. The foundation sponsored the construction of the paediatric ward at the Aminu Kano Teaching Hospital. Abdusalam through the BUA foundation was also involved in the construction of the Centre for Islamic Studies at the Bayero University, Kano.
6. The Danjuma Family: The family business interest is primarily in oil and chairing the South Atlantic Petroleum (SAPETRO). He has been involved in many political activities in the course of Nigeria’s history.
7. The Alakija Family: The family who made headlines a few years ago when they unseated Oprah Winfrey in wealth as they rose from a fashion designer to oil tycoon,The Alakija family is currently worth $2.1 having their business interests in fashion, oil and printing. The oil company, Famfa Oil Limited was founded in 1993 is said to generate the family at least $10 million daily in profit. They also has investments in real estate which is said to be worth over $100 million. Apart from her wealth, the family is known for their philanthropic activities. Their brainchild in philanthropy is the Rose of Sharon foundation which is a non governmental organization that helps widows and orphans by empowering them through scholarship and business grants. Their love for students has seen the family sponsor many Nigerian students through the Agbami Medical and Engineering Scholarship Scheme and the Folorunso Alakija Scholarship Scheme.
8. The Otedola Family: The family is a generation of the former Lagos State Governor, Michael Otedola chairing the Forte Oil Plc, a major importer of fuel products, founder of Zenon Petroleum and Gas Ltd. The family investment isn’t just limited to oil but range across other sectors such as shipping, real estate and finance. The family has a net worth of $2.3 billion. Their sojourn in business started when they successful ran a printing business in the 1980s later venture in to the oil and gas industry. The family has real estate properties in different parts of the world. These include London,Dubai and New York City. They are also known for their philanthropic contributions. Through the family university, Michael Otedola University, where a scholarship scheme which has helped over 1000 students since its inception. Also, contributed over N300 million to the completion of the National Ecumenical Centre, Nigeria’s primary place of Christian worship in Abuja.
   
9. The Adenuga Family: The family investments in the telecommunications giant Globacom and Conoil making Globacom the second largest telecoms operator and the company has offices in African countries like Ghana, CoteD’Ivoire and Benin. The family net worth is estimated at $5.8 billion. In 1990, the company which was then known as Consolidated Oil received a drilling licence and in 1991 they struck oil. Consolidated Oil was the first indigenous company to strike oil in commercial quantities. Beyond Con Oil, the company, Globacom was issued a conditional GSM licence in 1999 which received the second licence in 2003 and ever since then his telecoms company which is fully indigenous has grown rapidly.
10. The Dangote Family: The family currently net worth over $12.5 billion. The family has investments in Nigeria as well as countries like Benin, Ethiopia, Senegal, Cameroon, Ghana, South Africa, Togo, Tanzania and Zambia.The family route to becoming a billionaire began when a small trading firm was established in 1977. This firm later metamorphose in to what is now known as the Dangote Group.