Nigeria Billionaires : Their Networth & How They Rose From Rags To Riches

These billionaires were not born rich. They come from impoverished families who against all odds broke into politics, entrepreneurship and importation.

Nigeria is one of the poorest nations in the world with one third of its population living below poverty line. 

The oil rich country is a major supplier of crude oil to Europe and America. Ironically, the country rich in natural resources has its citizens living in poverty. Lack of basic infrastructure, education, health and social security.

In the midst of the economic slowdown in the country, the nation boasts of a high number of billionaires, whose wealth is more enormous than the budget of Texas.

Here’s a list of a few Nigerian billionaires and socialites who rose from abject poverty to excessive wealth.

First on our list is Senator Ned Nwoko, with an estimated net worth of  185 Billion Naira . 

Prince Chinedu Munir Nwoko, popularly known as Ned Nwoko, hails from Idumuje, Ugboko. Born December 21,1960, the 63-year-old billionaire started off as a struggling lawyer, who ventured into politics. Although he had his university education in the United Kingdom, on scholarship, the businessman cum politician was not considered within the middle class. 

He would later return to Nigeria to win a seat in the House of Representatives, where he amassed great wealth, which he invested landed properties.  

Senator Ned continues to climb the political ladder and accumulate more wealth, as he currently serves as a senator in the Federal Republic of Nigeria.

Ayiri Emami is a Warri oil magnet and businessman. It’s alleged that the businessman rose to become a billionaire and acquired traditional position through his dealings with the state government and his alleged links with crude oil exploration. Ayiri is said to have mansions scattered across Nigeria, Dubai and London, and boast of a net worth of over 100 Billion Naira.

Obi Cubana 

Obi Cubana whose real name is Iyiegbu Obi is the king of night life! Owning one of the elite night clubs is Lagos. The business man turned into an internet sensation, after throwing an elaborate, talk-of-the -town funeral for his mother.  

Mr Iyiegbu never misses an opportunity to tell his grass to riches story to whoever cares to listen, citing his days of humble beginnings, being a laundry man.

Obi Cubana has properties in his home town, Lagos, Abuja and the United Kingdom. The business man is reportedly worth 80 billion Naira.

E- Money

Born Emeka Okonkwo, February 18, 1981. E- Money , as he’s fondly called is a businessman and investor.

The 42-year-old business tycoon is the chairman of a music label, five star group. E Money has bagged various traditional titles and a honorary doctorate degree, amongst other achievements. 

However, the music mogul is not without scandal. He has allegedly been linked to some underworld deals bothering on fraud and illegal importation of banned substances.

Dr E-Money is worth over 50 Billion Naira.

Jowi Zaza 

The most eligible bachelor of Nigeria, Jowi Zaza is a big catch to single women in the social corridors. Jowi is a bubbly socialite, who takes out time to showcase his extravagant purchases and expensive holidays on social media. Jowi is a businessman and investor worth over 50 billion Naira.