Top 8 Richest Women in Nigeria Who Rule the Business World

We’re discovering the inspiring stories of Nigeria’s top 8 richest women who shattered glass ceilings, defied societal norms, and amassed unimaginable wealth.

Nigeria, a country of culture, nature, and resources, is the star of the African continent. However, Nigeria’s biased society doesn’t acknowledge women’s empowerment. Still, many prosperous women are known for their fame and money.

We’ve listed 8 Richest Women in Nigeria who have achieved what is still a dream for many men. Breaking all the stereotypes in Nigeria, they still succeeded on behalf of their talent and effort.

This group of the richest women of Nigeria is a breeding ground for youth entrepreneurs and dynamic economic growth. Most of them are the biggest business tycoons in the populous nation of Nigeria. Some of these are in the list of World’s 100 Most Powerful Women.

In this blog post, we’ll answer your query about who is the richest woman in nigeria? The richest womens of Nigeria are an icon of resilience, leadership, determination, and motivation among Nigerians. Their exposure in the industry has helped female entrepreneurship to rise prominently in the country.

Top 8 Richest Women in Nigeria

Nigeria has faced the worst forms of economic and socio-economic crisis within the past few decades. Still, the women have been crucial in improving their country for a few years.

The following is a list of the 8 wealthiest women in Nigeria whose lives are a testament to struggle and determination.

1. Folorunsho Alakija

The queen of philanthropy, Folorunsho Alakija, is a prominent business figure in Nigeria. However, Folorunsho Alakija comes from a wealthy and famous family in Nigeria, but that doesn’t change the fact that Folorunsho Alakija’s contributions to philanthropy are inevitable.

You might be surprised to hear her net worth, which is more than a billion dollars. The huge amount of his income has not only labeled her the richest in Africa but she is also known as one of the richest women in the world.

She received her primary education from Dinorben School for Girls in Hafodunos Hall, Wale. Afterward, she returned to Nigeria and enrolled at Muslim High School, Sagamu, Ogun State. Then her interest in fashion led her to study fashion design at the American College and the Central School of Fashion in London, England.

The start of Folorunsho’s journey to reach the highest icon in the business world started in late 1980 when she established a fashion label called Supreme Stitches. In no time, the apparel brand was famous amongst the country’s elite class and began to climb the stairs to success.

The jackpot that turned the life of Folorunsho was the permissible oil license that further helped Folorunsho to establish an oil company named Famfa Oil in 1993. The license was an amazing start because it allowed oil exploration and production in a block located off the coast of Nigeria.

2. Fifi Ejindu

Fifi Ejindu is a well-known architect in Nigeria and is famous for her extraordinary wealth. She is concluded as one the most powerful and wealthy women in Nigeria.

The contributions Fifi Ejindu has made in the field of construction, real estate, and architecture are remarkable and inevitable. However, Fifi Ejindu belongs to a prestigious Nigerian family known for their contributions and building of the economic status of Nigeria.

The estimated net worth of Fifi Ejindu is more than $500 million, earned by her compassion and dedication to her field and achievements.

Fifi Ejindu pursued her higher education at Pratt Institute in Brooklyn, New York, where she studied architecture. The institute gifted her with amazing skills and remarkable knowledge that she led in Nigeria and served her country.

Ejindu has showcased her talent and expertise through innovative and culturally significant projects. However, She is renowned for blending contemporary architectural styles with traditional Nigerian aesthetics, creating iconic structures that reflect the country’s rich cultural heritage.

Other than her field, Fifi Ejindu is innovatively promoting education’s significance and helping those in need. She has contributed to the domain of charity for a long time and earned her name in the male-dominated society of Nigeria.

3. Hajia Bola Shagaya

Hajia Bola Shagaya is a prominent entrepreneur figure in Nigeria. Relativity to an influential and wealthy family in Nigeria has gifted her remarkable wealth and success. Hajia Bola Shagaya has contributed to real estate, Oil, and the field of gas.

Hajia Bola Shagaya attended Queens School, Ilorin, for her secondary education before proceeding to Ahmadu Bello University in Zaria, Nigeria, where she earned a degree in economics. These degrees helped Hajia Bola Shagaya to gain remarkable success and fame.

Hajia Bola Shagaya has an estimated net worth of $630 million, including her as Nigeria’s richest woman.

Bolmus Group International is a Hajia Bola Shagaya oil refinement company that has made significant investments in the oil industry, establishing Hajia Bola Shagaya as a prominent player in Nigeria’s energy sector.

If we talk about the achievements of Hajia Bola Shagaya, then getting honored by the The International Women Entrepreneurial Challenge award is a great success for an African woman.

Hajia Bola Shagaya serves as a role model and a mentor for the uprising youth of Nigeria, especially women of Nigeria who are willing to be prominent business tycoons in the male-dominated industry.

4. Daisy Danjuma

Daisy Danjuma is known to be one of the richest women in Nigeria. She has influenced the business industry of Nigeria by becoming one of the top-rising entrepreneurs in Nigeria. The success of Daisy Danjuma is mostly a factor of her influence and dominant family back.

Daisy Danjuma attended the Benenden School in Kent, England, where she completed her secondary education. She later pursued further studies at the London School of Economics and Political Science, earning a degree in Economics. Daisy Danjuma had a keen interest in higher studies that helped her become a business tycoon in Nigeria.

Even though the net worth of Daisy Danjuma is $5 million, her relativity to an extremely superior family background provides her more authority and dominance in the Nigerian business industry.

The main field that Daisy Danjuma has served is oil and gas refinement. Other than all of her business success, Daisy Danjuma is mainly seen performing philanthropic initiatives for the needy and poor.

Daisy Danjuma’s involvement in politics has further highlighted her dedication to public service. She has held political positions, serving as a senator in the Nigerian National Assembly.

5. Stella Oduah

Stella Oduah is a well-known Nigerian political and business figure. She has served her country by any means. The private and government sectors owe Stella Oduah’s struggle and determination to raise her country to a better socio-economic structure.

Stella Oduah pursued higher education at Saint Paul’s College in Awka, Anambra State, and the United Nations Institute for Training and Research in Geneva, Switzerland. The academic endeavors of Stella Oduah are inevitable and have played a role in shaping her future achievements.

The estimated net worth of Stella Oduah is $20 million, including her in the list of richest Nigerian women.

Stella Oduah worked for several reputable organizations, including the Nigerian National Petroleum Corporation (NNPC) and the Nigerian Ports Authority (NPA). Her expertise and leadership skills in the corporate sector served as a strong foundation for her political career.

Stella Oduah was the minister of aviation in 2011, which transformed Nigeria’s overall economic and political structure. She was elected to represent Anambra North Senatorial District in the Nigerian Senate in 2015.

6. Diezani Alison-Madueke

Diezani Alison-Madueke is a famous government official in Nigeria, known as one of the richest women in Nigeria. She has served her country as Minister Of Petroleum

Resources and shaped and transformed Nigeria’s structural strategy of resources.

Diezani Alison-Madueke attended the University of Nigeria, Nsukka, where she obtained a bachelor’s degree in architecture.

Afterward, she pursued further studies at Howard University in the United States, earning a master’s degree in business administration. Having a dominant academic background helped Diezani Alison-Madueke achieved success in her life.

In 2007, Diezani Alison-Madueke was appointed as Nigeria’s Minister of Transportation and shaped the transportation structure in Nigeria.

However, it is significant to note that Alison-Madueke’s tenure as Minister of Petroleum Resources was also marred by allegations of corruption and mismanagement. She has faced numerous investigations and legal challenges both in Nigeria and internationally.

Diezani Alison-Madueke is accused of corrupting more than $20 billion from the foreign funds of Nigeria. For that reason, the estimated net worth of Diezani Alison-Madueke is more than $190 million, from which the Nigerian government recovered a big amount.

7. Uju Ifejika

Uju Ifejika is a business tycoon that has contributed to the field of Oil and gas. Nigeria can remember this woman because of her service and contributions to the country.

Uju Ifejika obtained a degree in law from the University of Nigeria, Nsukka. Later she pursued a Master of Laws degree from the University of London in the United Kingdom, specializing in energy and natural resources law. The academic background of Uju Ifejika has helped her reach the stairs of success in her life.

Uju Ifejika is included in the list of not only the richest women in Nigeria but also counted in the list of most wealthy women in the world. The estimated net worth of Juju Ifejika is more than $5 billion.

As Uju Ifejika has served the oil and gas industry, she is Brittania-U Nigeria Limited’s founder and Chief Executive Officer (CEO), an indigenous oil and gas exploration and production company.

8. Elizabeth Jack-Rich Tein Jr

Elizabeth Jack-Rich Tein Jr is an excellent example of women’s entrepreneurship and leadership. The country recognizes her because of her philanthropic efforts toward her people. However, Oil and gas are the main fields she pondered over her excellence.

Elizabeth Jack-Rich Tein Jr is the founder and CEO of Elin Group Limited, a conglomerate with diverse interests in energy, real estate, and maritime sectors.

Elizabeth Jack-Rich Tein Jr is considered one of the richest women in Nigeria, with an estimated net worth of $200 million. Her endeavors towards her company represent extraordinary skills and expertise.

Elizabeth Jack-Rich Tein Jr is widely recognized for her charity, and NGO work for people experiencing poverty.

She founded the Elizabeth Jack-Rich Aid Foundation, a non-governmental organization focused on bettering the lives of vulnerable individuals and communities in Nigeria.

Conclusion

These 8 Richest Women in Nigeria are the most wealthy and powerful; women in Nigeria. Even though the society and business industry of Nigeria is excruciatingly male-dominated and gender biased, still the name of these women is evident before the men in the industry.

One common thing between these women is resilience and an endeavor for education. They all possess some of the most valuable pieces of paper in their biographies, leading them to this stage of their lives.

Rather than envying them, our youngsters should be inspired by these women, especially girls. Their influential and powerful personalities play a huge role in their success.

Frequently Asked Questions – FAQs

Q: What is the source of income for Nigeria’s wealthiest woman?

A: The wealthiest women in Nigeria have acquired their wealth through various industries, including Oil and gas, banking and finance, pharmaceuticals, and entrepreneurship.

Q: How did Folorunsho Alakija become wealthy?

A: Folorunsho Alakija made her fortune primarily through her involvement in the oil industry. She founded and owned Famfa Oil Limited, a Nigerian oil exploration company. Alakija’s business ventures and investments in the oil sector have contributed significantly to her wealth.

Q: What are the educational backgrounds of Nigeria’s richest women? 

A: Nigeria’s richest women have diverse educational backgrounds. Many of them hold degrees in fields such as business administration, law, finance, and engineering. Some have studied abroad, while others have obtained their degrees from universities in Nigeria.

Q: What philanthropic activities are Nigeria’s richest women involved in?

A: Nigeria’s richest women are involved in various philanthropic activities to improve education, healthcare, women’s empowerment, and community development. They have established foundations and initiatives to address social challenges and uplift disadvantaged communities.

Q: How have Nigeria’s richest women contributed to the country’s development?

A: Nigeria’s richest women have made significant contributions to the country’s development through their entrepreneurial ventures, job creation, investments, and philanthropy. They have played pivotal roles in Oil and gas,healthcare, and real estate, driving economic growth and societal progress.

Q: What challenges have Nigeria’s richest women faced in their careers?

A: Nigeria’s richest women, like many successful individuals, have faced challenges such as gender bias, limited access to capital, regulatory hurdles, and competition. However, their determination, resilience, and strategic decision-making have allowed them to overcome these obstacles and achieve remarkable success.

Q: Who are the Top 8 Richest Women in Nigeria that Rule the Business World?

A: In the dynamic business landscape of Nigeria, the banking sector thrives under the stewardship of influential figures like the Group Managing Director of the Central Bank. These 8 Richest Women in Nigeria, including a Nigerian senator and executive vice chairman of a gas company limited, have propelled themselves to the top echelons of wealth, making their mark as Africa’s fourth wealthiest woman and leading the charge for African multinational companies. These 8 Richest Women in Nigeria achievements exemplify the remarkable success of a few African women who have become the wealthiest Nigerian women, leaving an indelible legacy in the vibrant business world.

Learn more: Top 13 Richest Women In Ghana in 2023