Top 20 Richest Investors on the Nigerian Stock Exchange in 2026

Nigeria’s stock market entered 2026 after a strong rally. The NGX rose by 51.19% in 2025, and the price jump increased the wealth of a small group of shareholders who own large share blocks that they rarely sell.

This list was based on late January 2026 closing prices, with dollar values converted at ₦1,460 to $1. It is strictly about listed holdings on the NGX, no private businesses, real estate, cash, or offshore assets. In other words, it is a picture of paper wealth tied to market prices and share registers, not a full personal balance sheet.

1. Abdulsamad Rabiu — $13.3 Billion

Founder and controlling shareholder of BUA Group. His listed wealth is driven by control of BUA Foods, a major packaged foods and agro-processing player, and a large position in BUA Cement, one of Nigeria’s top cement manufacturers supplying Nigeria’s construction and infrastructure market.

2. Aliko Dangote — $6.9 Billion

Nigeria’s best-known industrialist and founder of the Dangote Group. His listed portfolio is anchored by majority stakes in Dangote Cement (a cement powerhouse), Dangote Sugar (sugar refining and distribution), and NASCON (salt and seasonings), plus a stake in Jaiz Bank, giving him exposure across the industrial, consumer staples, and financial sectors.

3. Abdulaziz Yari — $1.5 Billion

A politician-turned-investor who became one of the most visible owners in listed power after taking control of Geregu Power in December 2025. His disclosed NGX wealth is tied to a 77% stake in the gas-fired generation company that sells power into Nigeria’s grid, with shares held through proxies, including those held by his son.

4. Tony Elumelu — $857.0 Million

Banker, investor, and a leading face behind Transcorp’s expansion. His NGX exposure spans Transcorp (where he holds 30.17% and which has interests in power and hospitality), UBA (a pan-African banking group), and Seplat Energy (oil and gas production), resulting in a portfolio that blends financial, energy, and infrastructure-linked assets.

5. Rasheed Sarumi — $582.6 Million

An agribusiness investor associated with Presco, one of Nigeria’s leading palm oil producers. His listed stake tracks the performance of a business built around oil palm plantations and processing, supplying crude palm oil and related products into consumer and industrial markets.

6. Victor Odili — $417.3 Million 

A prominent name behind one of the largest private share blocks in MTN Nigeria. His 5.08% stake ties his listed wealth to the country’s largest publicly listed telecom operator, which earns revenue from voice, data, and digital services—including fintech-led products that have become central to telco growth.

7. Samuel Dossou-Aworet — $371.8 Million

A veteran oil and gas dealmaker with deep exposure to Seplat Energy. His 13.5% stake places him among the largest owners in one of Nigeria’s most important independent producers, with a strategy increasingly linked to domestic gas and midstream infrastructure.

ALSO READ: Kai Cenat is Back in Nigeria: What Draws International Influencers Here

8. Femi Otedola — $359.8 Million

A high-profile Nigerian investor known for taking strategic positions in listed companies. His disclosed NGX wealth sits in First HoldCo (the holding company for First Bank and related financial services) and Geregu Power, reflecting a portfolio split between banking and electricity generation.

9. Isiyaku Rabiu (Jnr.) — $259.2 Million

Part of the Rabiu family ownership structure and a notable shareholder in BUA Foods. His 2.63% listed stake provides exposure to food staples and packaged consumer products—one of the NGX segments often viewed as defensive during inflationary periods.

10. Jim Ovia — $248.4 Million

Founder of Zenith Bank and one of Nigeria’s landmark banking figures. His listed holdings are tied to Zenith’s performance as one of the NGX’s most liquid lenders, with earnings driven by corporate banking, retail growth, and strong treasury operations.

11. Augustine Avuru — $229.3 Million

A long-time oil and gas executive and entrepreneur, with listed exposure through Seplat Energy. His 8.337% stake keeps him closely linked to Nigeria’s upstream cycle and Seplat’s push into gas and supporting infrastructure for domestic supply.

12. Wale Tinubu — $131.7 Million

Chief executive of Oando and one of the most watched names in Nigeria’s listed energy space. His indirect 38.25% stake in Oando ties his portfolio to upstream operations, trading, and energy services—an asset mix often sensitive to policy direction, production outlook, and corporate actions.

13. Ladi Jadesimi — $124.1 Million

An energy investor with listed positions spanning Aradel and FCMB Group. His portfolio blends oil and gas exposure through Aradel with a banking stake, reflecting a strategy that straddles Nigeria’s real economy (energy) and financial intermediation (banking).

14. Mike Adenuga — $99.7 Million

Telecoms and energy magnate with listed positions across construction, banking, and downstream fuels. His disclosed NGX holdings include a 25.37% stake in Julius Berger (engineering and construction), a 15.83% stake in Sterling Financial Holdings (banking), and a stake in Conoil (downstream petroleum marketing).

15. Kessington Adebutu — $93.9 Million

A businessman known for gaming and hospitality interests and a major shareholder in Wema Bank. His listed wealth is tied to Wema’s performance as a mid-tier commercial bank that has focused on digital banking growth.

16. Samir Udani — $92.1 Million

A core shareholder in Mecure Industries, a company notable for its tightly held ownership structure. His stake reflects how concentrated share registers can create outsized wealth effects when prices move in relatively illiquid counters.

17. Arjun Udani — $90.7 Million

Another major shareholder within the same Mecure Industries controlling circle. His disclosed value is also rooted in the company’s concentrated ownership structure, in which a few investors dominate the free float.

18. Aigboje Aig-Imoukhuede — $78.1 Million

A key figure behind Access Bank’s transformation into a major African banking group. His listed exposure is through Access Corporation, the holding company structure for the bank and related financial services, making his portfolio a direct bet on the pan-African banking scale.

19. Muhammadu Indimi — $74.4 Million

Energy entrepreneur and a major investor in Jaiz Bank. His 29.36% stake ties his listed wealth to Nigeria’s flagship non-interest bank, which serves both retail and corporate customers under a Sharia-compliant model.

20. Taiwo Afolabi — $72.5 Million

A logistics and ports investor with a controlling 60.76% stake in Skyway Aviation Handling Company (SAHCO). His portfolio tracks the aviation services business—ground handling for passengers, baggage, cargo, and ramp operations—often linked to airline traffic and trade volumes.