Borno State, located in Nigeria’s North-East region, has long faced challenges related to insecurity and economic underdevelopment. However, behind this narrative lies a powerful yet often overlooked reality: Borno is home to some of Nigeria’s most resilient and successful billionaires. These individuals have not only weathered regional instability but have used their strategic prowess in oil, real estate, agriculture, and public service to build generational wealth and lasting legacies.
In this article, we’ll uncover the top 10 richest men in Borno State in 2025, their industries, how they amassed their fortunes, and their critical role in fostering regional development through philanthropy and business investments.
1. Alhaji Mohammed Indimi – Oil Magnate and Philanthropist
Industry: Oil & Gas
Estimated Net Worth: $650 million
Major Enterprise: Oriental Energy Resources
At the helm of wealth in Borno is Alhaji Mohammed Indimi, the founder and Executive Chairman of Oriental Energy Resources, a leading indigenous oil and gas company. Born in Maiduguri, Indimi started out trading goods before securing an oil prospecting license in the early 1990s. Since then, Oriental Energy has grown into a major player in Nigeria’s oil sector, with producing assets in the offshore waters of the Niger Delta.
Indimi’s philanthropic efforts are equally impressive. Through the Mohammed Indimi Foundation, he has constructed over 100 housing units for internally displaced persons (IDPs) in Borno, provided scholarships for hundreds of students, and supported healthcare projects across the state. His wealth and influence make him not only the richest man in Borno but one of Nigeria’s most respected businessmen.
2. Alhaji Mohammed Dikwa – Real Estate Tycoon
Industry: Real Estate & Finance
Estimated Net Worth: Multi-billion Naira
Major Enterprise: Peniel Apartments Ltd.
Another financial powerhouse is Alhaji Mohammed Dikwa, founder of Peniel Apartments Limited—a real estate firm known for luxury developments in Abuja and major northern cities. Originally from Dikwa in Borno, he started small but quickly scaled through smart investments in residential and commercial properties.
Dikwa is also active in humanitarian work, funding educational scholarships and health outreach for vulnerable populations affected by insurgency in Borno. His success story is one of vision, resilience, and commitment to community development.
3. Kashim Shettima – Political Strategist and Investor
Industry: Politics, Agriculture, Real Estate
Estimated Net Worth: Billions of Naira
Major Roles: Vice President of Nigeria (2023–present), Former Governor of Borno State
Kashim Shettima is not only a political icon but also a savvy businessman. Before entering politics, he worked in banking and rose to become the manager of Zenith Bank in Maiduguri. As governor of Borno State (2011–2019), he led rebuilding efforts amid insurgency and laid foundations for private-sector growth.
Shettima’s investments span agriculture, real estate, and industrial projects in Northern Nigeria. He supports educational initiatives, vocational training, and rural infrastructure development in Borno—especially in communities hit hardest by conflict.
4. Senator Mohammed Ali Ndume – Public Service & Agribusiness Investor
Industry: Politics and Real Estate
Estimated Networth: $160 Million
Major Roles: Member of the National Assembly
Mohammed Ali Ndume (b. 20 November 1959 in Gwoza) has served in Nigeria’s National Assembly since 2003. Born in Gwoza Town, he built side investments in agricultural commodity trading and farmland leasing. His wealth was derived from both legislative allowances and agribusiness partnerships.
5. Alhaji Baba Kachalla – Agribusiness and Transport Mogul
Industry: Agriculture, Transportation
Estimated Net Worth: Multi-billion Naira
Major Enterprises: Borno Agro Ventures, Northern Fleet Logistics
Baba Kachalla carved out a fortune by industrializing farming in Borno State through mechanized agriculture. His company, Borno Agro Ventures, produces grains like maize, millet, and sorghum, which are supplied across Nigeria and to parts of West Africa.
Kachalla diversified into logistics with a large transportation network that moves goods across Northern Nigeria. He donates farm tools to youth cooperatives and funds agricultural training to empower local farmers.
6. Abba Kyari Jr. – Tech and Energy Innovator
Industry: Solar Energy, Telecommunications
Estimated Net Worth: Billions of Naira
Major Ventures: Rural Electrification Projects, Telecom Infrastructure
The son of the late Chief of Staff to President Buhari, Abba Kyari Jr. is making his mark through investments in solar energy and telecommunications. He leads several rural electrification projects in Borno, helping to power IDP camps and off-grid communities.
He also invests in telecom infrastructure, particularly in underserved parts of the North-East, bringing mobile and internet connectivity to hard-to-reach areas. His contributions have earned him accolades in technology and social impact spaces.
7. Prof. Babagana Umara Zulum – Public Service & Reconstruction Leader
Industry: Real Estate, Politics
Estimated Net Worth: Billions of Naira
Babagana Zulum (b. 25 August 1969 in Mafa LGA) is the current Governor of Borno (since 2019) and former NDDC Commissioner. As an agriculture-engineer-turned-professor, he oversees state budgets exceeding ₦300 billion and holds personal real-estate stakes in Yenagoa and Maiduguri. Biography sites estimate his net worth at US $3 million, reflecting moderate personal holdings alongside official allowances
8. Zanna Bukar Kolo – Agro-Industrial Entrepreneur
Industry: Agriculture, Oil & Gas Services
Estimated Net Worth: Multi-billion Naira
Major Ventures: Agribusiness, Oil Field Logistics
Zanna Bukar Kolo built his empire on agriculture, owning thousands of hectares of farmland in Borno and surrounding states. From rice to sesame, his farms are among the most productive in the region. He later expanded into oil and gas services, offering logistics and equipment leasing to operators in the Niger Delta.
Kolo is deeply committed to youth development and offers free training in agri-tech, processing, and farm management for young graduates and returnees.
9. Dr. Ibrahim Tahir – Health and Education Mogul
Industry: Private Healthcare, Education
Estimated Net Worth: Billions of Naira
Major Ventures: Private Hospitals, International Schools
A medical doctor turned entrepreneur, Dr. Ibrahim Tahir operates some of Northern Nigeria’s top private hospitals. His healthcare services cater to the middle and upper class, with specialties in maternal health, surgery, and diagnostics.
Tahir also owns a chain of international schools that offer top-tier education with a focus on science and technology. His nonprofit foundation offers free surgery camps and scholarships to orphans in Borno.
10. Ali Modu Sheriff – Political Influencer and Business Magnate
Industry: Real Estate, Oil Services, Politics
Estimated Net Worth: Billions of Naira
Major Ventures: Construction Firms, Government Contracts
Ali Modu Sheriff served as Borno State Governor (2003–2011) and has remained active in Nigerian politics. His business interests include construction companies that handle public contracts and oil-service firms linked to major exploration projects.
While he is a controversial figure in politics, his business empire and wealth remain undeniable. Sheriff supports rebuilding projects in war-torn areas and sponsors medical relief efforts for displaced families.
FAQs About Borno Billionaires
Who is the richest man in Borno State?
Alhaji Mohammed Indimi is widely considered the richest man in Borno, with net worth estimates reaching over $1 billion.
What sectors dominate their wealth?
Oil and gas, real estate, agriculture, energy, telecoms, education, and healthcare are the leading industries.
Do these billionaires contribute to local development?
Yes, most of them fund educational scholarships, housing for IDPs, hospital construction, and youth empowerment programs.
How are younger investors performing in Borno?
Emerging names like Abba Kyari Jr. and Zanna Bukar Kolo are redefining investment in energy, tech, and agriculture.
Is Borno safe for investment now?
Yes. Though security concerns remain, improving infrastructure and state-led initiatives are attracting more local and foreign investment.
Conclusion
The story of Borno State is not just one of hardship—it’s also one of resilience, opportunity, and growth. These ten men represent the economic backbone of a region striving to redefine its identity. Through calculated risk-taking, impactful philanthropy, and strategic leadership, Borno’s richest individuals are not just amassing wealth—they are laying the foundation for a brighter, more inclusive future.
