The Billionaire Lagosians: 10 Richest Families In Lagos State, Nigeria (2025)

Lagos State remains the beating heart of Nigeria’s economy, bustling with commerce, innovation, and wealth. Behind this vibrant metropolis are families whose fortunes have shaped not just Lagos, but the entire country. From oil tycoons to banking moguls, these billionaire Lagosians dominate multiple sectors, combining business acumen with strategic investments.

Let’s look into the 10 richest families in Lagos State for 2025 — the true powerhouses driving Nigeria’s growth story.

1. The Dangote Family

Aliko Dangote is synonymous with wealth in Africa. His conglomerate, the Dangote Group, has vast operations including Africa’s largest oil refinery in Ibeju-Lekki, Lagos. The family’s empire spans food processing, construction materials, and commodities, making them the richest in Lagos and the continent.

2. The Tinubu Family

Bola Ahmed Tinubu, Nigeria’s current President and former Lagos governor, has amassed wealth through real estate, media, and hospitality businesses, including the renowned Oriental Hotel and TVC media group. The Tinubu family wields significant political and economic influence in Lagos.

3. The Adenuga Family

Mike Adenuga’s Globacom is Nigeria’s telecom giant, rivaling global brands. Besides telecom, his investments include oil exploration and banking, placing the Adenuga family firmly in the billionaire league.

4. The Rabiu Family

Abdul Samad Rabiu heads the BUA Group, a major industrial player in cement manufacturing and sugar refining. Their business footprint extends across West Africa, anchored in Lagos as their base of operations.

5. The Otedola Family

Otedola’s journey from oil refining to diversified investments has made his family a staple in Nigeria’s elite. His children, including DJ Cuppy, also contribute to their growing influence in entertainment and business.

6. The Danjuma Family

General Theophilus Danjuma’s wealth stems from oil, shipping, and real estate. Known for his discretion, Danjuma owns prime Lagos properties and commands respect in business and political circles.

7. The Alakija Family

One of Africa’s richest women, Folorunsho Alakija made her fortune through Famfa Oil and later expanded into fashion and printing, becoming an iconic Lagos businesswoman.

8. The Ovia Family

Jim Ovia, founder of Zenith Bank, revolutionized banking in Nigeria. With ventures in ICT and real estate, the Ovia family continues to expand their wealth from Lagos’s financial hub.

9. The Elumelu Family

Chairman of Heirs Holdings and United Bank for Africa (UBA), Tony Elumelu is celebrated for his entrepreneurship and philanthropy, fostering economic growth across Nigeria and Africa.

10. The Okoya Family

Razaq Okoya founded Eleganza Group, a manufacturing powerhouse in Nigeria. His family holds substantial real estate assets in Lagos and remains influential in industrial sectors.

FAQ

Q1: Who is the richest family in Lagos State?
A1: The Dangote family, led by Aliko Dangote, tops the list with an estimated net worth of $23.9 billion.

Q2: What industries do these families dominate?
A2: Their wealth spans oil and gas, telecommunications, real estate, banking, manufacturing, media, and hospitality.

Q3: Are these families involved in politics?
A3: Yes, families like the Tinubus and Danjumas have notable political influence alongside their business interests.

Q4: How has Lagos State contributed to their wealth?
A4: Lagos’s status as Nigeria’s commercial capital offers unmatched business opportunities, infrastructure, and markets critical to their success.

Conclusion

The richest families of Lagos State embody the spirit of Nigerian entrepreneurship, resilience, and strategic vision. Their diverse ventures fuel economic growth and inspire the next generation of business leaders. Understanding their journey offers valuable lessons for aspiring entrepreneurs and investors in Nigeria and beyond.