The top ten youngest and richest youths in Nigeria are Igho Sanomi, Ladi Delano, Obi Cubana, Kenneth Bramor, Sijibomi Ogundele, Tayo Oviosu, Jowi Zaza, E-money, Linda Ikeji, and Jason Njoku.
The country Nigeria is rich. It is blessed with both human and natural resources. Above all, it is a country with some of the fastest-growing billionaires in the world. The youngest and richest youths in Nigeria have not only achieved financial success but have also made significant contributions to the economic growth of the country cutting across businesses, entertainment and the technological sector.
Despite raging challenges such as economic instability and political turmoil, these young billionaires have managed to create thriving businesses and solidify their positions as leaders in Africa’s business community. While the likes of Obiozor of Kobo360 and the Dozie brothers make our list of the top 20 young billionaires in Nigeria, here are details of the top ten of Nigeria’s youngest and richest billionaires.
Igho Sanomi Is the Richest Youth in Nigeria
Net Worth: $ 1 billion (about ₦460,340,000,000)
Age: 53 Years Old
Sources of Income: Oil, power, logistics, telecommunications, Marine, aviation, real estate
Company: Taleveras Group
Igho Charles Sanomi is a geologist and public speaker with strong business interest in oil, power, logistics, telecommunications, aviation, real estate, and the maritime industry. Son of a retired Assistant Inspector General of Police, Sanomi was born and raised in Agbor, Delta State, on 17 May 1975 and he is the fifth child of his parent.
He is the founder of Taleveras, a $2 billion-worth international commodities trading company based in Nigeria (Abuja) and Dubai with additional offices spread across West Africa, Europe and Asia. He became fascinated with the oil industry while in his final year at the University of Jos, Plateau state.
He handled a couple of structured deals for local oil companies after which he went into a long-term venture with Masefield. After having practical knowledge about oil business, Sanomi was ready to establish his own company and handle oil-related contracts himself. With the little saving he had, alongside his savings from the profit share he had earned from joint venture transactions, Sanomi put together a small team and opened his first business called Sarian Oil.
With Sarian oil, Sanomi built his business on the back of third-party contracts a few years later, his company became the preferred supplier of fuel oil feedstock to major USA refiners. At the age of 28, he merged various segments of his trading business and renamed the company Taleveras. In its prime, Sanomi’s oil trading company transported over 170 million barrels of crude and oil products annually. Today, it is considered one of the largest independent energy traders in Africa.
Sanomi has traditionally stayed away from the media spotlight but amid his silence, he has received numerous awards both locally in internationally. He was even cited by Forbes as one of the “Ten Young African Millionaires To Watch in 2013. He and his siblings are the founders of the Dickens Sanomi Foundation – a non-governmental organization focused on alleviating socio-economic hardship across Nigeria.
- Net Worth: $900 million (about ₦414,306,000,000.00)
- Age: 53 years old
- Sources of Income: Real Estate, Mining, Agriculture
- Company: Moove Africa, Bakrie Delano Africa, Grace Lake Partners
Ladi Delano is one of the youngest and richest youths in Nigeria. He is an entrepreneur known for owning several business ventures that now contribute to his net worth of $900 million.
Born and raised in the United Kingdom (UK), Delano was a college dropout who though had learning difficulties, found his path in business and today, he earns the billionaire tag just like other Nigerian billionaires. He now holds a Master’s degree from Oxford University and an MPA from the London School of Economics. Ladi is the son of a corporate executive and an MBA lecturer and under the tutelage of his father, he was able to understand business trends and how different products come to the market.
Delana’s first business was as a career adviser to students. He also got recruiters to advertise their companies to students, and set up m-commerce retail platforms where students could make purchases with their mobile phones. This, however, folded up roughly six months after, leading to loss of thousands of dollars.
In his early 20s, Delana was already a satisfied businessman. He established Solidarnosc Asia, a Chinese alcoholic beverage company that made Solid XS, a premium brand of vodka brand that was distributed in over 30 cities, pulling in $20 million in annual revenue. He later sold the company to a rival liquor business for over $15 million.
Having tried two businesses that later failed, Delana relocated to Nigeria in 2012 with the hope of digging deep into the country’s potentials. With the knowledge he gained about the country’s growing economy, he pulled together a consortium of high-net-worth families and some financial institutions in the private equity space to invest in Nigeria.
To achieve his aim, he partnered with Bakrie Group which is one of the largest conglomerates in Indonesia. The joint venture invested in mining, agriculture, and oil and gas industries in Nigeria. Delana is currently the Co-CEO & Co-Founder of Moove and Founder & CEO & Managing Partner at Grace Lake Partners. In 2012, he was Nigeria’s youngest billionaire and was also named one of Forbes’ youngest millionaires to watch in Africa.
- Net Worth: $500 million
- Age: 53 years old
- Sources of Income: Hospitality, Real Estate
- Company: Cubana Group
53 year-old Obinna Iyiegbu, popularly known as Obi Cubana makes it to our list of richest youths in Nigeria with a jaw-dropping net worth that he primarily accumulated from his company, Cubana group, which now prides itself as one of Africa’s best hospitality brands.
Nicknamed the King of nightlife, Obi Cubana is a business mogul who has maintained his stance of hard work, consistency, and people network as the standard for success. The political science degree holder from the University of Nigeria, Nsukka, made his first N1 million from furnishing a house for a client who dashed him N500,000 for a job well done. The money summed up to over a million naira after adding his profit of N600,000.
His financial stance continued to grow as he received more house contracts. His contract with PPMG and other brands led to his establishment of Ibiza Club in 2006. Located in Abuja, Nigeria’s federal capital, Ibiza Club recorded great sales; by 2009, profits generated from the nightclub laid the foundation of the Cubana hospitality services which is now located in Owerri, Lagos, Abuja, Port Harcourt, and other states in Nigeria.
Obi Cubana’s interest in the hospitality industry has undoubtedly enriched his pocket. Now a successful businessman, he owns a chain of business ventures, some by direct ownership while some are through investments. He also hopes to expand his hospitality business to Dubai with the establishment of Cubana Dubai. Currently, his chain of business has branches in major cities of Nigeria. They include the following:
- Rolex Hotels – Lagos Cubana Leisure Outfits
- Pablo Cubana – Lagos
- Crave Cubana – Abuja
- Grand Cubana Hotels – Abuja
- Opium Cubana – Owerri
- Cubana Night Clubs – Lagos
- Gustavo Cubana- Enugu
- Net Worth: $500 million
- Sources of Income: Oil and Gas
- Company: Clintwealth
Chief Kenneth Bramor is one of the silent billionaires in Nigeria. He is the CEO of Clintwealth, an oil and gas company based in Warri, and is currently one of the richest moguls in the Niger Delta region. He holds a senior position at Saipem, an Italian oil and gas company.
Details about Bramor’s business acumen are not clear but he gained prominence in November 2017 after he gave out two brand new Toyota Camry cars as souvenirs during his wedding to his second wife, the popular Lagos-based Interior designer, Ehi Ogbebor.
In August 2018, Bramor gifted his UK-based first wife, Timi, a Rolls Royce. According to reports, the Rolls-Royce which was worth around N300 million was given as an act of appreciation for being with him and to appease her for all the hurt he caused her by marrying a second wife. The luxury gift came barely nine months after Bramor took Ehi Ogbebor as his second wife.
- Net Worth: $500 million
- Age: 41
- Sources of Income: Real Estate
- Company: Sujimoto Construction Limited
Born on the streets of Agege, a suburb area in the Ikeja Division of Lagos State, Sijibomi was raised in a business-oriented environment by a mother who was into trading. Today, he is arguably one of the finest and richest youths in Nigeria. Going by his age, he could also be listed among the youngest billionaires in the country.
Mr. Ogundele began his journey as a businessman at a tender age but his first attempt at business as an individual was when he started a bike business. He built his first business with financial support from his parents and in just a few years, his bike business grew from one to a few more.
Upon realising his destiny in business, real estate seemed to be the door he prefered to walk through. Currently the Chief Executive Officer and Managing Director of Sujimoto Construction, the 41-year-old lawyer ventured into the Luxury Real Estate Industry at a time when Nigerians were beginning to demand value for their money. His interest in real estate was sparked while living in France, brokering deals in project management and financing.
He made his first major break as a realtor in 2011 when he bought an apartment in Paris, remodeled it, and sold it for more than double the amount he initially bought it. This experience and financial success ignited and further deepened his interest in real estate
Sijibomi founded his company in 2013 while partnering with Yazeed Alrahji, a real estate magnate in Saudi Arabia. The name Sujimoto was borrowed from Sijibomi’s mentor, Sujimoto Koga, a Japanese professor who helped boost his confidence and influenced his business initiatives.
Lincoln Avenue, a set of 16 townhouses of 4-bedroom apartments in Accra, Ghana, was Sujimoto’s first major real estate project. Today, the firm has offices in the big cities of Lagos, Abuja, Accra, Riyadh, Dubai, Madrid and Paris.
Some of the company’s most amazing projects include MediciBySujimoto, the Lucrezia BySujimoto in Banana Island, Leonardo Sujimoto in Banana Island, The Giovanni and The HQ in Ikoyi; QueenAminaBySujimoto in Abuja and of course, The Sujimoto tower in Dubai, a 44-story building. Following his financial success and business knowledge, Sijibomi Ogundele hopes to become the President of Nigeria in the near future.
Jowi Zaza is Arguably the Youngest Billionaire in Nigeria
- Net Worth: $150 million
- Age: 38 years old
- Sources of Income: Oil and Gas
- Company: Jezco Oil
Joseph Eze Okafor Jnr., popularly known as Jowi Zaza, is a 38-year-old businessman making it to the list of young richest billionaires in Nigeria. He is the son of a business tycoon and founder of Jezco oil, Chief Joseph Ebere EzeOkafor (Snr.).
Jowi Zaza, like his father, is an oil mogul. He started his career in one of his father’s multiple businesses. It was not long after he joined the business that he became the managing director of Jezco oil, a multi-million dollar oil and gas corporation situated in Nnewi, Anambra State.
Since Jowi Zaza joined his father’s oil company, the business has expanded significantly. From his seat as the managing director of his father’s company, he rose to the position of the Chief Executive officer (CEO). The company deals on medical and industrial gas. He also sells fuel, kerosene, and engine oil with many of his filling stations and retail outlets located across the country.
It is said that Jezco oil is worth over $74.6 million. One of the company’s subsidiaries, Jezco Lubricants, was even recognized with an award from Mitsubishi Motors. With profits from his oil and gas business, Jowi Zaza extended into the real estate business. He owns several properties within the country, including Lekki and other parts of the highbrow areas of Lagos, as well as outside the shores of Nigeria.
Emeka Okonkwo (E-money)
- Net Worth: $55 million
- Age: 42 years old
- Sources of Income: Oil and Gas, Entertainment
- Company: Five Star Music, Five Star Oil, Emmy Cargoes Nigeria Limited
E-Money is another young businessman excelling in the music industry, oil and gas business, shipment and delivery, and hotels. He is the younger brother of veteran Afrobeat singer, Kcee.
This young and successful billionaire established his shipping company in 2007 with the aim of providing shipping and clearing services to the maritime sector of the Nigerian economy. The company was formerly called Borisa Nig. Ltd.
E-money had his breakthrough as a businessman after marrying his wife, Juliet Okonkwo. He received a call on his way to Lagos informing him that he had been awarded a 20 billion naira contract. His cargo company is also into warehousing, logistics, haulage and sales of exotic cars at competitive prices.
Through his shipping company, he was able to expand to other businesses. He eventually established one of the biggest record labels in the country, Five Star Music, home to his brother KCee and other successful singers like Harry Song and Skibi. The record label which was established in Lagos, Nigeria, in 2010, wasn’t famous until his brother’s song Limpopo was released.
With Kcee as its first artist, the renowned music brand has signed bigwigs like Harrysong, Skiibi, and many others currently thriving in the industry. It is said that the company is one of the biggest in the Nigerian entertainment industry with its net worth estimated at $500,000.
In 2017, his company, Five Star Group, launched its own tin tomato paste company called Five Star. The business mogul also has an oil company called Five Star Oil. He also owns several other money-spinning businesses worldwide, and real estate is one of his ventures. Aside from being a very industrious person, E-money is also famous for his luxurious lifestyle.
- Net Worth: $50 million
- Age: 45 years old
- Sources of Income: Networking
- Company: Paga
Tayo Oviosu is the CEO and founder of Paga, a mobile payments company he founded in 2009 to enable universal access to financial services. The 45-year-old is a graduate of Electrical Engineering from the University of Southern California and a master’s degree holder in Business Administration from the Graduate School of Business, Stanford University.
He started off earning little income for himself during his college years and after obtaining his first degree he landed his first job with a small startup of 8 people where he was part of a team that was meant to develop digital imaging chips that could capture images the way the human eyes do. Unfortunately, he was laid off three months into the job.
Although he struggled for some time, leaving his first job helped him discover his strength which is gigital design. He founded Paga in 2009 after spending 13 years of working experience with various companies – he had worked at Biomorphic VLSI as a semiconductor chip design engineer, he then moved to Event 411 where he worked as a software engineer, all based in California. He later relocated to London to work for Deloitte Consulting in the CRM and Technology practice as a Senior Consultant.
After business school, Oviosu joined Cisco Systems – an American multinational technology company based in San Jose. With the company, he was responsible for strategy, acquisitions and private equity investments in Virtual Computing, Application Networking, Security and Network Management. He also played important role in Cisco’s investment expansion in Africa with investment opportunities.
Oviosu’s company came into existence with the hope to eliminate the use of cash for transactions and to provide access to financial services. The company raised over $13 million for Paga in 8 years and is hoping to make more over the years.
- Net Worth: $40 million
- Age: 42 years old
- Sources of Income: Blogging, Youtube channel, Radio Station, Endorsement Deals
- Company: Linda Ikeji Media Studio
With a net worth of a whopping $40 million, Linda Ifeoma Ikeji is Nigeria’s most-ranked blogger, writer, entrepreneur, and former model. She is known for her blog www.lindaikejisblog.com. Before settling for blogging, Linda tried her hand at several businesses to make ends meet. However, following her passion for writing, she launched her gossip blog where she writes on the latest stories surrounding celebrities in Nigeria and across the country.
While doing this, Linda also got herself smaller jobs, including working as a waitress and as a model, as her blog wasn’t initially bringing forth money. After bagging a degree in English Language from the University of Lagos in 2004, she established a media company called Black Dove and a magazine she named FM&B (Fashion, Modelling & Beauty). She, however, dropped the businesses to focus more on blogging.
The year 2007 saw Linda Ikeji being fully active as a blogger, through her subdomain lindaikeji.blogspot.com. Her constant activity on the blog gained her further rise to fame on various social media platforms.
It is important to note that Linda’s blog gained more trust in online advertisement as companies and banking industries used it to reach their audience through placing banner ads. For years now, companies like the Guaranty Trust Bank and Globacom Limited (Glo) have placed a sidebar ad worth over 1 million naira monthly.
When the money started coming in, she used it to set up other businesses in the media sector. Now, Linda owns a well-furnished media studio which takes care of content production services, video coverage for special events, studio rentals, hiring and renting of production equipment, and production crew services. She also owns Linda Ikeji TV (LiTV) which was launched on 9th June 2018.
The celebrity uses the YouTube channel to post exciting documentaries, cooking from Laura Ikeji’s Kitchen, hot topics and gossip, and many other programs. This TV broadcasts from Linda Ikeji Media Studio and has over 66,000 subscribers.
Linda makes additional income from downloads and monthly subscriptions from the Linda Ikeji TV app which contains videos, documentaries, movies and TV series. There is also an online radio station which operates also from Linda Ikeji Media Studio. In November 2016, she launched a new media platform, Linda Ikeji Social, hoping to penetrate social media platforms through blogging and social networking.
Days after launching lindaikejisocial.com, she received over 86,000 accounts registered. Although the platform dwindled with time, there is no doubt that the celebrity blogger made meaningful income from it. Aside from all these, she makes huge income by signing endorsement deals with company brands like Konga, Jumia, Dettol, MTN, Guinness stout, MerryBet, etc.
- Net Worth: $30 million
- Age: 42 years old
- Sources of Income: Entertainment
- Company:f iROKOtv
The British -Nigerian businessman Jason Chukwuma Njoku is the co-founder and CEO of iROKOtv, a video-on-demand service for Nigerian movies. He made his first attempt at success years after launching a new distribution platform for Nollywood whilst living at home with his mum. This, of course, happened after several failed enterprises.
The 42-year-old university graduate with a degree in Chemistry, had in mind to begin a business of his own at an early stage and between 2005 and 2010, he tried several businesses, including starting a T-shirt business, blog network, and a web design company. While living with his mother, he got the idea to start a Nollywood online distribution business.
With the help of his university friend, he began purchasing online licences for Nollywood movies until he struck a deal with YouTube in Germany to be the official channel partner for the Nollywood company. He made his first huge income two months after launching a YouTube channel named NollywoodLove.
The same year, he received an investment of over $3 million from the US-based venture capital fund, Tiger Global, which was interested in expanding its reach in emerging markets. The money became useful for the official launch of a stand-alone video-on-demand movie platform, iROKOtv, on 1 December 2011. Interestingly, the site received viewers from 178 countries around the world.
With more investment capital coming in, Jason and his partner built an extensive film catalogue of 5,000 movies, and launch offices in Lagos, New York, and London. Iroko has gone on to make other funding investments worth over $40 million.
Jason earns additional income from Spark, an investment vehicle for Lagos-based Internet start-ups. The company which he set up alongside his partners, invested in 11 companies, including a real-estate and property online letting agency called ToLet.com.ng, and a hotel room booking site, called Hotels.ng.
In 2012, Jason Njoku was cited by Forbes Africa as one of the ‘Ten Young African Millionaires to Watch. He’s also been named as one of Fast Company’s Top 1000 Most Creative People in Business
The 10 Youngest and Richest Youths in Nigeria Who Are Billionaires include
- Igho Sanomi – $1 billion
- Ladi Delano – $900 million
- Obi Cubana – $500 million
- Kenneth Bramor – $500 million
- Sijibomi Ogundele – $400 million
- Jowi Zaza – $150 million
- Emeka Okonkwo (E-money) – $55, Million
- Tayo Oviosu – $50 Million
- Linda Ikeji – $40 million
- Jason Njoku – $30 million