To make wealth is an achievement; the way it is spent is
style. In most cases, successful individuals who have created wealth
through wise and diligent investments in business hardly squander their
money.
They usually prefer to reinvest their capital,
including the accrued profit over the years, into their businesses to
increase their asset base and level of affluence…
The tendency,
therefore, is that the richer they are, the more their business
interests expand. In line with this corporate tradition, the rich
investors get richer and, when they spend, they do so in a big way
worthy of mention. This is because of the extensive attention attracted
by their rare wherewithal and will to spend, including doling out money
on humanitarian grounds. Among Nigeria’s privileged people are:
Aliko Dangote
Nigerian
business tycoon Aliko Dangote is the richest man in Africa. He is the
founder, Dangote Group, West Africa’s largest publicly listed
conglomerate with diverse business interests such as sugar refining,
flour milling, textiles, real estate and salt processing. Dangote
Cement, Dangote Foods (noodles) and Dansa Juice complete the chain. His
total net worth is about $16.1 billion as at March 2013.
Dangote
spends money in philanthropic activities. He has stepped up his
philanthropy in recent years, giving over $100 million to causes ranging
from education and health through flood relief, poverty alleviation to
the arts. He acquired a private jet in April 2010 as a personal gift on
the occasion of his 53rd birthday. The Bombardier Global Jet Express XRS
(one out of a few) was estimated to cost $45 million. Dangote is also
said to have purchased a private luxury yatch at the cost of $43 million
made exclusively for his enjoyment. The yatch is named Mariya after his
mother.
Mike Adenuga
Otunba Mike Adenuga
built his fortune in business from banking, mobile telecom service and
oil. He founded Globacom, now Nigeria’s second largest mobile phone
network, in 2006. Globacom has more than 24 million subscribers in
Nigeria, and also operates in the Republic of Benin. Adenuga made his
first fortune at the young age of 26 in the 1970s by distributing lace
and other materials.
He later had another opportunity to expand
his fortune during the military regime of Ibrahim Babangida when he was
awarded a contract for the construction of military barracks in some
military installations in the country. He is presently worth $4.7
billion, thus justifying him as one of Nigeria’s super-rich businessmen.
Adenuga
is a philanthropist who spends a lot of money on selfless activities
aimed at bringing succour and assistance to less-privileged people.
Adenuga also takes his philanthropic goodwill to the area of sports
development in Nigeria and Africa through his selfless investments in
sports. His demonstration of philanthropic largesse cuts across
sponsorship of Nigerian Professional Football League (NPFL) and the
Super Eagles. This was one of the points highlighted by President
Goodluck Jonathan at his (Adenuga’s) 60th birthday. “You are celebrating
60 years of a remarkable life filled with monumental achievements in
high entrepreneurship, philanthropy and dedicated service to God and
country,” the president said.
Similarly, the president of the
Confederation of African Football (CAF), Mr Issah Hayatou, used the
occasion of Adenuga’s birthday celebration to appreciate his
contributions to the society. He recognised that Adenuga had not only
affected Africa positively through his accomplishments in business but
has also been the pillar of sports on the continent.
Adenuga loves
spending money on what gives him joy. It could be said that, partly for
this reason, he acquired a private Bombardier Global Express jet,
fitted with the latest flight facilities. It is one of the most
luxuriously built private jets in the world, just like that of Dangote.
Jim Ovia
Jim
Ovia started building his fortunes when he founded Zenith Bank Group in
1990. The bank has grown to become West Africa’s second largest
financial service provider by market capitalisation and asset base. His
sources of wealth are banking, telecommunication and real estate
investment.
He also owns Quantum Luxury Properties Limited, a
private equity fund with special focus on Africa. Ovia’s total net worth
is about $825 million.
He has embarked on the establishment of a
free, co-educational high school, James Hope College, in Delta State,
the place where he pondered his future as a young man. The school, an
18-month project, launches in September with an initial capacity for 420
students. He is also the founder of Mankind United To Support Total
Education (MUSTE), an organisation providing scholarships for the
underprivileged.
Abdussamad Rabiu
Lagos-based
business tycoon Abdulsamad Rabiu is a son of Khalifa Isiyaku Rabiu, one
of Nigeria’s most successful businessmen in the 1970s. Little wonder
therefore that he followed in his father’s footsteps in business with
interest in importing basic commodities such as rice, sugar and cement
in the 1980s.
Abdussamad heads the BUA Group, a conglomerate with
$1.9 billion in revenues and interests in sugar refining, vegetable oil
processing and flour mills. The BUA Group also operates the BUA Cement,
Nigeria’s first floating cement terminal, as well as Nigerian Oil Mill
which processes edible oil. According to Forbes magazine report, he is
the 21st richest African and is worth $675 million.
Folorunsho Alakija
Billionaire
oil tycoon, fashion designer and philanthropist, Mrs Folorunsho Alakija
is worth at least $3.3 billion against a recent Forbes’ rating which
quoted her net worth as $600 million. She began her professional career
in the 1970s as secretary of defunct International Merchant Bank of
Nigeria, one of the country’s earliest investment banks.
In the
early 1980s when banking was seen as one of the most lucrative jobs, she
took a bold step towards realisation of her personal dreams by quitting
her job in the bank to study Fashion Design in England. She returned to
Nigeria a few years later to establish Supreme Stitches, a high-profile
fashion firm which provides special services to exclusive clientele.
She also founded Rose of Sharon Foundation, a charity organisation.
This
fashion design business led her into fortune. She was in a position to
make and sell high-level clothing to the fashionable wives of some
military big shots and other society women.
In May 1993, Mrs
Alakija set out for oil business. It was then she applied for an
allocation of oil prospecting licence (OPL) to explore 617,000-acre
block granted to her company, Famfa Oil Limited. However, at that time,
she had no experience in oil exploration — she was just a new entrant in
the business.
Also, Mrs Alakija is widely reported to own a
private jet, Bombardier Global Express 6000 which cost about $46
million, added to acquisition of a property at Hyde Park. This is one of
the ways she spends her wealth, which gives her happiness. Furthermore,
she is a philanthropist who derives joy in giving assistance to widows
and other less-privileged in society.
Tony Elumelu
Mr
Tony Elumelu (CON) was born in Jos on March 22, 1963. He is a renowned
economist, banker, investor and generous philanthropist. Elumelu is a
recognised African leader in corporate business. After leading United
Bank for Africa (UBA) Plc to a higher level with the acquisition of
Standard Trust Bank (STB) during the consolidation of the banking
industry in 2005, he retired from the management of UBA in July 2010.
On
establishment of the Tony Elumelu Foundation, he stated the
foundation’s objective as to “prove that the African private sector can
itself be primary generator of economic development”. Among the roles of
the foundation are deployment of resources to generate reliable
solutions to the business constraints that derail and clog the growth of
business in the private sector in Africa.
Moreover, Elumelu
ploughs a lot of resources in philanthropic activities. Apart from the
Tony Elumelu Foundation, he was also a member of the World Economic
Forum’s Regional Agenda Council on Africa. He is also part of the
Bretton Woods Committee which brings leaders in the global banking
industry together. Voluntary development of human capital is one of the
cherished interests where Elumelu spends his wealth. He also partners
with the Tony Blair Africa Governance Initiative (AGI) with high focus
on strengthening the role of the private sector in economic
transformation policies of some African countries. This partnership is
named Blair-Elumelu Fellowship Programme.
Elumelu, the originator
of the concept of Africapitalism as an economic philosophy that reflects
the commitment of players in the private sector towards the economic
transformation of Africa through long-term investment, is a consummate
patriot with a full-blown obsession for how he can make his country and
continent a better part of the world.
Interest in paying family
hospital bills, unpaid school fees, providing for families who cannot
provide their needs — all form part of what Elumelu does through his
catalytic philanthropic method of assisting human beings within the
shores of Nigeria and Africa.
Hajiya Bola Shagaya
Hajiya
Bola Shagaya is hailed as one of Nigeria’s richest businesswomen. She
is the CEO of Bolmus International Limited. She has interests in several
sectors ranging from oil and gas, banking, cash crops export, real
estate, fast-moving consumer goods and photography.
She has been a
very influential figure in Nigeria’s corridors of power for decades and
has excelled in a society where the role of women has been restricted
traditionally. Her rise to affluence and power is not attributed to
parental or marital influence. This woman of means has skilfully built
her network and wealth from a humble background, and has proven herself
as an outstanding power broker with impressive entrepreneurial skills.
In
the manner of an astute entrepreneur, she saw opportunities in the
populous image-conscious Nigerian market, prompting the expansion of her
Konica marketing operations to photo laboratory services; that was the
birth of another of her companies – Fotofair (Nigeria) Limited. Today,
Fotofair is a leading photo laboratory company in Nigeria with over 30
laboratories spread across the nation.
Hajiya, as she is fondly
called, has impressively carved her path in the sixth-largest oil
producer’s oil and gas sector. As far back as the late 1980s, during the
Gen. Ibrahim Babangida-led military administration, she had steered her
oil and gas company through the highly connected and contested Nigerian
oil and gas sector to secure allocations for oil blocks. Thus began her
reign as an indigenous oil marketer.
Around 2005, she became the
managing director of Practoil Limited and, in 2011, she founded another
exploration company, Voyage Oil and Gas Limited.
Shagaya, who is
of Yoruba extraction, a tribe distinguished as party enthusiasts of the
over 200 tribes in Nigeria, often attends the biggest social events
dressed in “anko” with Nigeria’s first ladies — a local practice of
Nigerian women indicating bosom friendship by wearing the same
traditional attire especially to social functions.
The one-time
patron of the Fashion Designers Association of Nigeria (FADAN) is a
collector and retailer of the finest and most exquisite jewelleries from
different fashion capitals of the world. “I love fashion, artworks and
beautification endeavours,” she said.
The graceful billionaire is
not all about heavy-weight work. “I’m also a lover of sports, especially
Polo”, she said. She has consistently supported Polo tournaments in
Nigeria over the years.
Femi Otedola
Femi
Otedola is the CEO of African Petroleum Plc. He was one of only two
Nigerians (alongside Aliko Dangote) to appear on the 2009 Forbes list of
793 dollar-denominated billionaires in the world, with an estimated net
worth of over US$1.2 billion. Femi Otedola is the Nigerian president
and chief executive officer of Zenon Petroleum and Gas limited.
Forbes
magazine estimates Femi Otedola’s net worth at $1.2 billion and ranks
him as the 601st richest person in the world. According to Encomium
magazine, Femi Otedola’s net worth is $3.5 billion.
He owns a private jet called Challenger Global 5000 and a yatch almost similar to Dangote’s named Nana after his wife.
Emeka Offor
Sir
Emeka Offor, as he is often addressed rarely grants interviews, rather,
he prefers his works, businesses and philanthropy to speak for him.
His
multi-million business interest, Chrome Group, is a multifaceted
organisation which originally started as an engineering outfit handling
projects such as refinery maintenance, has today become by the grace of
God, a conglomerate with diverse interests in Oil and Gas,
Finance/Investments, Telecommunications, Insurance, Maritime,
Destination Inspection, Real Estate and the Power Sector.
He once
said in a newspaper interview that he is a son of a policeman, born in
Kafanchan in Kaduna State. Offor is a goal-getter and founder of Sir
Emeka Offor Foundation, a platform through which he doles out millions
of naira for philanthropic purposes.
A member of Rotary
International and deeply involved in the 4 cardinal pursuits of the
Rotary Foundation, which are; peace and Conflict Management, Maternal
and Child Death, Basic Education and Literacy, and Polio and Guinea Worm
Eradication. He has made an outstanding donation of 250,000 USD for
Peace studies at Chulalongkorn University in Bangkok, Thailand, $250,000
for Polio eradication; $250,000 for Guinea worm eradication; and
another $250,000 for Women empowerment programmes in Nigeria. He was
inducted into the Foundation Circle of the Arch Klumph Society of the
Rotary Foundation of Rotary International, an honour reserved for
individuals who have donated over $250,000 to its causes. Through his
Foundation, he has donated over $1 million, making him the highest donor
from Africa.
This Anambra State-born politician and businessman
has heavily invested in education. The Sir Emeka Offor Foundation is the
largest single sponsor of Books For Africa, a non-profitable
organization, bringing in over $10 million worth of books, computers and
other educational materials to our national institutions of learning
and public libraries. He was reported to have also used his money to
enthrone a governor in his home state.
Andy Uba
Initially
named Nnamdi Uba and currently a member of the National Assembly as a
Senator of the Federal Republic, Senator Andy Uba is a member of the
famous Uba family in Anambra State. He is stupendously rich and was
reported to have declared his assets to be worth N3trillion though he
denied ever doing so.
Uba has a lot of lucrative business interests and he is connected with a number of charity works via a Foundation.