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Richest women in Nigeria: Top 10 in 2020

Women name Hajia Bola Shagaya posing for a cover dressed in red and gold
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Being rich is the most common dream of every other person. All it requires is to have the right plan to execute your dreams to turn them into reality. While it is not easy to gather money for everyone. Such objectives are more challenging for females, especially in patriarchal societies. Go through the highlights of each woman to strengthen the muscle required to reach the positions they have managed to achieve. We prepared for you a list of the top 10 richest women in Nigeria.

1. Folorunso Alakija (Net Worth US $2.5 billion)

The list of richest women in Nigeria cannot be complete without having the name of Folorunso Alakija in it.

She is undoubtedly the richest woman in the world Nigeria has ever produced.

Her success has been appreciated at many national and international forums, including Forbes.

She is not only the richest woman in Nigeria but is also the second most successful woman in Africa.

A the true example of a self-made woman.

And, she is a business magnate, a philanthropist, a writer, a preacher, and a public speaker.

Folorunso Alakija has a very interesting life story.

She was one of the 62 children of her father who were not very well off.

She used to help her mother while she worked in the stores to earn some extra cash to feed her children.

It was there where she learned the basics of business.

At that time, no one knew that she was going to become the richest girl in Nigeria.

Work history

She went on to study in the United Kingdom and came back to do an ordinary job as a secretary.

From there, she moved on to do jobs in the banking sector.

It was in her banking job when she thought to do something different.

She went to the UK again and obtained a degree in fashion.

Upon returning, she established her own fashion business named “Supreme Stitches”.

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It gained huge appreciation from national and international customers that eventually made her rich.

From that point, she entered the printing business, real estate business, and finally landed into oil exploration in Nigeria.

She is currently serving as the group managing director of The Rose of Sharon Group.

Her other companies, including her printing business and an NGO work under this umbrella.

She is the executive vice-chairman of Famfa Oil Limited and a major shareholder in DaySpring Property Development.

So, for the people inquiring about who is the richest woman in Nigeria, Folorunso Alakija is the answer.

2. Hajia Bola Shagaya (Net Worth US $1 billion)

Hajia Bola Shagaya is the real example of how a woman can make it up to a huge wealth by being a distributor of certain things in her own country.

She started her career from a bank to make use of her education in economics and accounting.

From that point, she entered straight into the importing and distribution business.

She was the first distributor of Konica products in her country and later on.

And moved on to importing the base oil to supply across the country to the local lubricant manufacturers.

She soon became the need of almost every other local blending plant as base oil is the key to making any kind of lubricant.

This business added a huge portion to her current wealth.

She did not keep herself restricted towards base oil only.

She also explored the real estate potential in her country.

And entered this full business time to spread it across the country with hundreds of employees.

Currently, she owns the base oil company named Practoil and is a board member of Unity Bank.

She is also a fashionista and is an active member of the Fashion Designers Association of Nigeria.

With a staggering wealth of around US $1 billion, she is among the richest women in Nigeria.

Her business sense and unique initiatives have landed her to become the second richest woman in Nigeria.

3. Daisy Danjuma (Net Worth US $900 million)

Daisy Danjuma is a real example to showcase the might of being a lawyer.

She is a lawyer turned politician and is currently the 3rd richest woman in Nigeria.

Her hefty net worth hovering around the US $1 Billion speaks volumes about her success.

She started her career as a State Counsel for the Ministry of Justice in Lagos State and was involved in similar roles in her law career.

Also rendered her legal services to the banking sector in Nigeria.

Has also enjoyed the top-notch posts offered by the Nigerian Government, including the Legal Adviser for Nigerian Television Authority.

She also earned money through private cases that contributed to her net worth.

And she was one of the most successful lawyers in Nigeria with a proven track record of outstanding legal services.

The oil sector seems highly convincing for people to become wealthy.

Daisy Danjuma also sensed this reality and entered the oil field as well.

Has also served as a Chairman of a highly reputable petroleum company named South Atlantic Petroleum (SAPETRO).

And have served there for four long years consecutively until 2003 after which she decided to enter politics.

She became a senator for the Senate of Nigeria.

And, headed many committees for public interest and especially worked for women empowerment.

In those days, the salaries of the Nigerian senators skyrocketed which in turn added much to Daisy Danjuma’s net worth.

She is currently a member of national and international bar associations and is pursuing her legal career in high spirits.

4. Fifi Ejindu (Net Worth US $850 million)

Fifi Ejindu, also known as Princess Fifi Ekanem Ejindu, is one the richest women in Nigeria whose background helped her in making her the 4th richest woman in Nigeria.

She is a businesswoman and an architect in Nigeria.

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Fifi Ekanem Ejindu is a Nigerian Architect, businesswoman and philanthropist. Born in Ibadan, Nigeria, she is the great granddaughter of King James Ekpo Bassey of Cobham Town in Calabar, Nigeria. . . Her father Professor Sylvester Joseph Una, was the first Minister of Health in the former eastern region of Nigeria, and a member of the House of Parliament pre-independence. . . Princess Fifi attended secondary school at Queens College, and then went on to study architecture at Pratt Institute, a private design college in Brooklyn, New York. In 1983 she graduated from Pratt, becoming the first black African woman to be awarded a B.Arch. from the institute. She also has a Masters in Urban Planning from the same college. . . Ejindu started the Starcrest Group of companies in 1995, with real estate and building construction as key aspects. . . She describes her style of architecture as Neo-traditional which she defines as “building a new project with new materials, but with traditional and old style details and features” and hence most of her projects, as she explains, bring back the Renaissance period. . . In 2013, she was awarded the African Achievers African Arts and Fashion Lifetime Achievement award. You too can become an award winner. Why not? . . #WhyNotMe . . . Culled from Wikipedia . . . #WhenWomenWin #architecture #architecturephotography #design #creative #build #creativeentrepreneurs #fifiejindu

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She is also involved in charity to help the poor and needy.

With the net worth of around US $850 million, she is considered as one of the most successful businesswomen in Nigeria.

She has a very strong background that has its roots in the kingdom of Cobham Town in 1893.

Being the great-granddaughter of King James Ekpo Bassey.

She must have inherited a hefty amount that had contributed to establishing her business ventures of real estate, oil and gas, and architectural projects.

Her father was a renowned professor in Oyo State, Nigeria, having studied in the United States.

Her mother got an education from the United Kingdom.

So she was blessed to have a blend of knowledge from American and European universities in her home.

She got her architectural studies completed in the United States from a reputed institution named Pratt Institute in New York.

Upon returning from New York, she established a firm named Starcrest Group of Companies.

It was under this banner that her investment companies, including real estate, architecture, and oil and gas projects, operate across Nigeria.

Her unique style of architecture makes her stand out from her competitors in Nigeria.

And her company enjoys huge credibility in building a great infrastructure.

5. Dr. Stella Okoli (Net Worth US $800 million)

Dr. Stella Okoli is a pharmacist by profession and is a true example of turning her profession into a business that yields millions of dollars along with employment opportunities in her country.

She got her early education from Nigeria and went abroad for her professional education.

She got a degree in medicine from famous universities, including the University of Bradford and the University of London.

Upon returning to her own country, she started regular jobs in several pharmaceutical companies in Nigeria, where she made use of her professional degree and passion.

Dr. Stella decided to establish her own medicine business in 1977 when she opened up a small pharmacy shop in Lagos State, Nigeria.

She eventually moved on to establish a pharmaceutical company named Emzor Pharmaceutical.

Her commitment to work and quality manufacturing of the medicines made her business successful until her company started to produce 50 different variants and served all over Nigeria.

And have served on the supreme posts in the field of medicine.

She had been appointed as the Vice President and Chairperson of the Manufacturers Association of Nigeria including the Pharmaceutical Manufacturers Group.

And got involved in the charity work by establishing a Non-Government Charity Firm that aimed at helping out poor and needy people in terms of helping them financially and providing healthcare services in various forms.

Her son died due to cardiovascular disease, and after this incident, she decided to increase the awareness regarding cardiovascular issues in the common public.

With over US $800 million of net worth, she is considered as one of the highly regarded richest women in Nigeria.

6. Bimbo Alase (Net Worth US $750 million)

The life of Bimbo Alase is an inspiring success story that transformed her interior designing store to a multi-million furniture business named Leatherworld.

She is one of the richest women in Nigeria due to her flourishing business that promises the most authentic furniture items in the country.

Her business is so popular that it has a zero-rejection policy as it stays committed to providing the top-quality furniture items.

The success story of Bimbo Alase is no less than a miracle, but as they say, you have to make the miracles happen for you.

Bimbo Alase got her early education from her hometown in Nigeria.

Then she went abroad to pursue a degree in fashion and interior design.

She got her professional degrees from Pitman College and the London Design School in the United Kingdom.

Upon returning to her country, she opened up a small store meant for interior designing in Lagos, Nigeria.

She also ran a beauty parlour as an additional source of income, but both of these businesses added very little to her net worth.

She broke the records of her success when she established the brand for the furniture of the finest quality in the town named Leatherworld.

The project got so successful that it went across borders to gain recognition.

Bimbo Alase is the owner of this highly acclaimed furniture brand, and with the net worth of around US $750 million, she falls under the top 10 richest women in Nigeria.

She is kind-hearted and also helps other aspiring entrepreneurs to reach heights of success.

7. Mo Abudu (Net Worth US $650 million)

If you all know and respect Africa as one of the respectable, civilized, and gifted continents of the world, then you have to be thankful to Mo Abudu.

She has a huge contribution to uplift the image of Africa.

Born and brought up in the United Kingdom, she got herself in the middle of the white people ever since her childhood.

She had to face discrimination and humiliation because of being one of the black women who were in the minority in the UK.

This racism about her colour and origin gave her the true direction and motive in her life.

And she decided to do something to uplift the overall image and perception of her country and the continent.

As she wanted the world to see what Africa was actually about.

And got a master’s degree in Human Resource Management from the University of Westminster in the capital of the United Kingdom.

She returned to her country and served as the head of the human resource in the oil giant Exxon Mobil in Nigeria.

She always regards her experience in this organization as highly valuable and helpful for her future pursuits.

And went on to enter businesses involving hotels and human resource firms in Nigeria.

Finally became the most regarded and valuable media personality not only in Nigeria but in all Africa.

Have established a media house Named Ebony Life TV.

She shows the positive sides of Africa to the whole world through her media house and receives tremendous appreciation.

Being one of the richest women in Nigeria, she doesn’t keep her wealth to herself.

She is an active philanthropist and keeps on helping out poor and needy people in her country and across borders.

8. Stella Oduah (Net Worth US $600 million)

Stella Oduah’s name may have been taken many times in several allegations of corruption, but the fact remains intact.

She is one of the richest women in Nigeria and currently contending to become the number one richest woman in Nigeria.

Also known as Princess Stella Oduah-Ogiemwonyi, she is a member of the Nigerian Senate and served as the Federal Minister for Aviation.

She faced many charges, including the illegal import of luxurious cars, non-payment of bills for her oil & gas companies, and obtaining a fake degree of MBA.

After getting her education from the United States, she returned to Nigeria and joined the Nigerian National Petroleum Corporation.

Later on, she established her own company named Sea Petroleum & Gas Company Limited (SPG) which contributed in making her rich.

She is an active politician and belongs to People’s Democratic Party in Nigeria.

9. Ngozi Okonjo-Iweala (Net Worth US $550 million)

This is the most educated and highly talented entry in the list of richest women in Nigeria.

Ngozi Okonjo-Iweala is an economist who earned her degrees from renowned universities like Harvard University for BA and Massachusetts Institute of Technology for her master’s and PhD.

She served the World Bank as an economist for 25 years and also remained the Federal Minister of Finance in Nigeria two times.

And has numerous works published internationally for the deep insights of the world economy.

She had reached the rank of Managing Director at the World Bank and ran for the position of President too.

Also involved in charity work to alleviate poverty in her region.

If we add her knowledge, wisdom, and efforts to her wealth, it will surely make her the richest woman in Nigeria.

10. Diezani Alison-Madueke (Net Worth US $500 million)

Another Nigerian female politician who is among the richest women in Nigeria.

While politics and the allegations of corruption might go hand in hand, she remains one of the wealthiest ladies in Nigeria.

Upon completing her studies in England and the United States, she came to Nigeria and did several jobs, including the energy giant Shell Petroleum in Nigeria.

She excelled so much in the oil field to become the first-ever female to lead OPEC as the President in 2014.

Also served the federal cabinet of Nigeria as a minister in Transportation, Mines and Steel Development, and Petroleum Resources.

And had been alleged with charges including financial misconduct and illegal award of contracts during her ministries.

Although the authorities had frozen a huge amount of her assets, she remains one of the richest females in Nigeria.

Top 10 richest women in Nigeria summary:

Nigeria is surely one of the resource-rich and fastest emerging powers of Africa.

Being the most successful and one of the richest women in Nigeria is not everyone’s piece of cake.

While there may be many aspects of being rich in Nigeria, it is evident that every female has got the opportunity to reach her destination by following the footsteps of the successful women mentioned in this article.