The Yoruba people, mainly located in the South-Western part of Nigeria, are known for their rich culture, history, and strong entrepreneurial spirit. Over the years, several Yoruba businessmen and political figures have built massive empires in various industries—telecoms, oil & gas, real estate, finance, and manufacturing.
In this article, we highlight the top 10 richest Yoruba billionaires in Nigeria (2025), their net worth, industries, and how they made their fortune.
1. Mike Adenuga – $6.7 Billion
- Industry: Telecommunications, Oil & Gas
- State of Origin: Oyo State
- Key Businesses: Globacom, Conoil
- Bio: Mike Adenuga is Nigeria’s second-richest man and the richest Yoruba billionaire. His company Globacom is one of Africa’s largest telecom providers, while Conoil is a major player in the oil sector.
2. Bola Ahmed Tinubu – $500 million
- Industry: Real Estate, Politics, Oil
- State of Origin: Lagos State
- Key Businesses: Holdings in media, oil firms, real estate
- Bio: Former Governor of Lagos State and President of Nigeria (as of 2023), Tinubu has built vast wealth through investments and influence in both business and politics.
3. Chief Michael Ade Ojo – $250 million
- Industry: Automotive, Education
- State of Origin: Ondo State
- Key Businesses: Elizade Motors, Elizade University
- Bio: Chief Ade Ojo is the founder of Elizade Motors, one of Nigeria’s biggest car dealerships and a major distributor of Toyota vehicles.
4. Femi Otedola – $1.5 Billion
- Industry: Energy, Finance
- State of Origin: Lagos State
- Key Businesses: Geregu Power, Former Forte Oil
- Bio: Otedola is a major figure in the power and energy sector and has shifted his focus to investments and philanthropy after exiting Forte Oil.
5. Jimoh Ibrahim – $300 million
- Industry: Oil, Insurance, Real Estate
- State of Origin: Ondo State
- Key Businesses: Global Fleet Group
- Bio: Jimoh Ibrahim is a businessman and politician with stakes in insurance, oil, hospitality, and publishing.
6. Tunde Folawiyo – $200 Million
- Industry: Energy, Agriculture, Shipping
- State of Origin: Lagos State
- Key Businesses: Yinka Folawiyo Group
- Bio: Tunde Folawiyo has expanded his family’s business into energy, real estate, and banking. He’s also a board member in several multinational firms.
7. Chief Samuel Adedoyin – $150 Million
- Industry: Manufacturing, Agriculture
- State of Origin: Kwara State
- Key Businesses: Doyin Group of Companies
- Bio: A well-respected businessman and industrialist, Chief Adedoyin has built businesses that span food processing, real estate, and more.
8. Clement Oluwatumininu Okeowo – $100 Million
- Industry: Real Estate, Construction
- State of Origin: Ogun State
- Key Businesses: Gibraltar Construction
- Bio: Okeowo is one of Nigeria’s top luxury real estate developers, building mansions and estates for the wealthy elite.
9. Adebayo Ogunlesi – $22.5 Million
- Industry: Finance, Infrastructure
- State of Origin: Ogun State
- Key Businesses: Global Infrastructure Partners
- Bio: A US-based investment banker, Ogunlesi owns stakes in major global infrastructure projects including airports.
10. Dele Fajemirokun – $17 Million
- Industry: Insurance, Trading
- State of Origin: Ondo State
- Key Businesses: AIICO Insurance, Henry Stephens Group
- Bio: Fajemirokun is a seasoned entrepreneur with investments in insurance, telecoms, and shipping.
Summary Table: Richest Yoruba Billionaires (2025)
|
Rank |
Name |
Net Worth |
Main Industry |
State |
|
1 |
Mike Adenuga |
$6.7 Billion |
Telecoms, Oil & Gas |
Oyo |
|
2 |
Bola Ahmed Tinubu |
$500 million |
Politics, Real Estate, Oil |
Lagos |
|
3 |
Chief Michael Ade Ojo |
$250 million |
Automotive, Education |
Ondo |
|
4 |
Femi Otedola |
$1.5 Billion |
Energy, Finance |
Lagos |
|
5 |
Jimoh Ibrahim |
$300 million |
Oil, Insurance, Real Estate |
Ondo |
|
6 |
Tunde Folawiyo |
$200 Million |
Energy, Shipping |
Lagos |
|
7 |
Chief Samuel Adedoyin |
$150 Million |
Manufacturing, Agriculture |
Kwara |
|
8 |
Clement Okeowo |
$100 Million |
Real Estate, Construction |
Ogun |
|
9 |
Adebayo Ogunlesi |
$22.5 Million |
Finance, Infrastructure |
Ogun |
|
10 |
Dele Fajemirokun |
$17 Million |
Insurance, Trading |
Ondo |
Frequently Asked Questions (FAQs)
1. Who is the richest Yoruba man in Nigeria in 2025?
Mike Adenuga is currently the richest Yoruba billionaire with a net worth of $6.7 billion.
2. Are Yoruba billionaires only based in Nigeria?
No. Some Yoruba billionaires, like Adebayo Ogunlesi, are based abroad but have roots in Nigeria and invest in both local and global ventures.
3. What sectors do Yoruba billionaires invest in most?
They are heavily involved in telecoms, oil & gas, real estate, finance, manufacturing, and politics.
4. Is Bola Tinubu a billionaire?
Yes. Tinubu is one of the wealthiest Yoruba figures in Nigeria, with an estimated net worth of over $500 million.
Conclusion
The Yoruba ethnic group continues to produce some of Nigeria’s most successful and wealthiest entrepreneurs. Their ability to innovate, build, and expand across different industries proves the strong business acumen embedded in their culture. Whether in telecom, politics, oil, or finance, Yoruba billionaires are shaping Nigeria’s future both economically and socially.
