The richest men in Nigeria’s tech

Nigeria, a dynamic country with a fast-growing information technology sector, is home to many innovators and entrepreneurs who have excelled in the field.
These tech moguls behind cutting-edge startups and innovative solutions are not only transforming the landscape of the Nigerian tech industry, but also inspiring a new generation of tech talent.
In this article, we take a look at some of the richest and most influential people in the Nigerian tech industry, their success stories, companies founded and impact on the development of tech in the country.

Mike Adenuga

Mike Adenuga is a Nigerian business tycoon, billionaire and philanthropist whose fortune is estimated at $6.7 billion (according to Forbes 2024).
He is the founder and chairman of Globacom, one of the largest telecommunications operators in Africa, and holds a diversified portfolio of assets in various industries including oil, gas, banking and real estate.

Early life and education:

Mike Adenuga was born on April 2, 1953 in Ibadan, Nigeria.
He received his secondary education at Ibadan Grammar School and then studied Business Administration at the University of Oyo State.
Adenuga did not graduate from the university, but his entrepreneurial spirit was evident at a young age.
He started selling cereals and cigarettes in the 1970s before moving into the oil and gas industry.

Business empire:

In the 1990s, Adenuga founded Globacom, a telecommunications company that quickly became one of the largest cell phone operators in Nigeria.
Globacom is known for its innovative services and affordable prices, which has made it a popular choice among millions of Nigerians.

In addition to Globacom, Adenuga owns assets in various industries including:

• Conoil PLC: an oil and gas company
• First City Monument Bank (FCMB): a bank
• Petrobell Limited: an oilfield services company
• Shelleco Development Company: a real estate development company
• The Pacific Hotels: hotel chain

Philanthropy:

• Adenuga is known for his generosity and philanthropic activities.
• He founded the Michael Adenuga Foundation, which supports various educational, medical and social projects in Nigeria and other African countries.

Awards and Recognition:

Adenuga has received numerous honors and awards for his achievements in business including:

• African Man of the Year (African Business Awards, 2007)
• Entrepreneur of the Year (CNBC Africa, 2010)
• Nigeria’s richest man (Forbes, 2012-2021)

Personal wealth:

Mike Adenuga is the richest man in Nigeria and one of the richest people in Africa.
His fortune is estimated at 6.7 billion dollars, making him one of the most influential people in the business world.

Interesting facts about Mike Adenuga:

• Entrepreneur from a young age:
  Adenuga started his first business at the age of 12, selling Coke and candy to his classmates.
  At the age of 18, he already owned several stores in Ibadan.
• Failure as a springboard to success:
  In the 1980s, Adenuga made an unsuccessful attempt to venture into oil production.
  This event was a lesson to him and he decided to switch to the telecommunications industry where he has been hugely successful.
• Love of luxury:
  Adenuga is known for his love for luxury.
  He owns a Boeing 737 private jet, a $35 million yacht and a collection of Rolls-Royce.
• Generous philanthropist:
  Adenuga has donated millions of dollars to various charities including education, health and sports.
  He is also the founder of the Michael Adenuga Foundation, which supports various social programs in Nigeria and other African countries.
• Avid golfer:
  Adenuga is an avid golfer and owns his own golf course in Ibadan.
  He also sponsors several golf tournaments in Africa.
• Family man:
  Adenuga is married and has seven children.
  He is known for his devotion to his family and often spends time with his children and grandchildren.
• Inspirational Success Story:
  Mike Adenuga is an inspiring success story that demonstrates that with hard work, determination and entrepreneurial spirit, anything can be achieved.
  He is a pioneer in Africa’s telecommunications industry and a philanthropist who has positively impacted the lives of millions of people.
• Patriot:
  Adenuga is a patriot of Nigeria and believes in the potential of his country.
  He invests in the development of the country’s economy and creates jobs for Nigerians.

Tunde Folawiyo

Tunde Folawiyo is a Nigerian business tycoon, billionaire and philanthropist whose fortune is estimated at $6.5 billion (according to Forbes 2024).
He is the founder and chairman of The Guaranty Trust Bank (GTBank), one of the largest banks in Africa, and holds a diversified portfolio of assets in various industries including real estate, aviation, and healthcare.

Early life and education:

Tunde Folawiyo was born on June 27, 1957 in Lagos, Nigeria.
He received his secondary education at King’s College, Lagos and then studied architecture at the University of Aberdeen in Scotland.
After graduation, Folawiyo returned to Nigeria and started working as an architect.

Business Empire:

In 1990, Folawiyo and his friends founded Guaranty Trust Bank (GTBank).
GTBank quickly became one of the largest banks in Nigeria and expanded to other countries in Africa.
Folawiyo has been the chairman of the board of GTBank since its inception.

In addition to GTBank, Folawiyo owns assets in various industries including:

• Folorunsho Alakija Group: a real estate development company
• Honeywell Group: a conglomerate engaged in aviation, real estate, hospitality and other industries
• Aviva Life Insurance: insurance company
• Stable Capital Limited: an investment company

Philanthropy:

Folawiyo is known for his generosity and philanthropic activities.
He founded the Tunde Folawiyo Foundation which supports various educational, medical and social projects in Nigeria and other African countries.

Awards and Recognition:

1. Folawiyo has received numerous honors and awards for his achievements in business including:
2. African Man of the Year (African Business Awards, 2009)
3. Entrepreneur of the Year (CNBC Africa, 2011)
4. Nigeria’s richest man (Forbes, 2013-2021)

Personal wealth:

Tunde Folawiyo is the second richest man in Nigeria and one of the richest people in Africa.
His fortune is estimated at 6.5 billion dollars, making him one of the most influential people in the business world.

Interesting facts about Tunde Folawiyo:

• Architectural background:
  Folawiyo was educated in architecture, which influenced his approach to business.
  He is known for his attention to detail and commitment to creating high quality real estate properties.
• Risky Startup:
  Founding GTBank in 1990 was a risky move as banking was underdeveloped in Nigeria at that time.
  However, Folawiyo believed in the potential of his idea and was able to make GTBank one of the leading banks in Africa.
• Passion for the arts:
  Folawiyo is a passionate art collector.
  He owns an extensive collection of African art which he exhibits in his private museum in Lagos.
• Love of Aviation:
  Folawiyo is the founder and chairman of Honeywell Group, one of the largest aviation conglomerates in Africa.
  He also owns a private Gulfstream G650ER airplane.
•  Family man:
  Folawiyo is married and has five children.
  He is known for his devotion to his family and often spends time with his children and grandchildren.

Hakeem Belo-Osagie

Hakeem Belo-Osagie is a Nigerian business tycoon, billionaire and philanthropist whose fortune is estimated at $3.2 billion (according to Forbes 2024).
He is the founder and chairman of Emerging Markets Telecommunications Group (EMTG), one of the largest telecommunications holdings in Africa, and holds a diversified portfolio of assets in various sectors including real estate, energy and agriculture.

Early life and education:

Hakeem Belo-Osagie was born on January 14, 1958 in Ibadan, Nigeria.
He received his secondary education at King’s College, Lagos and then studied Electrical Engineering at the University of Oyo State.
After graduating, Belo-Osagie worked as an engineer with the state-owned Telecommunications Company of Nigeria.

Business Empire:

In 1999, Belo-Osagie founded Emerging Markets Telecommunications Group (EMTG).
EMTG quickly became one of the largest telecommunications holdings in Africa, owning mobile operators in Nigeria, Ghana, Benin, Liberia and other countries.
Belo-Osagie has been the chairman of EMTG since its inception.
In addition to EMTG, Belo-Osagie owns assets in various industries including:
Zest Energy: an energy company
Estate Links: a real estate development company
Prime Farms: an agricultural company
Transcorp Hotels: a hotel chain

Philanthropy:

Belo-Osagie is known for his generosity and philanthropic endeavors.
He founded the Hakim Belo-Osagie Foundation, which supports various educational, medical and social projects in Nigeria and other African countries.

Awards and Recognition:

Belo-Osagie has received numerous honors and awards for his achievements in business including:

• African Man of the Year (African Business Awards, 2014)
• Entrepreneur of the Year (CNBC Africa, 2016)
• Nigeria’s richest man (Forbes, 2022-2023)

Personal wealth:

Hakeem Belo-Osagie is the third richest man in Nigeria and one of the richest people in Africa.
His fortune is estimated at 3.2 billion dollars, making him one of the most influential people in the business world.

Legacy:

Hakeem Belo-Osagie is an inspiring success story that demonstrates that with hard work, determination and entrepreneurial spirit, anything can be achieved.
He is a pioneer in Africa’s telecommunications industry and a philanthropist who has positively impacted the lives of millions of people.

Interesting facts about Hakeem Belo-Osagie:

1. Nickname “Mr. Fix It”:
   Belo-Osagie is known for his nickname “Mr. Fix It” which he earned for his ability to solve complex problems.
   He has been instrumental in the development of telecommunication infrastructure in Nigeria and other African countries.
2. Love for Sports:
   Belo-Osagie is a passionate soccer fan and is the owner of Enyimba FC.
   He is also a sponsor of many other sports teams and events.
3. Passion for collecting:
   Belo-Osagie is a passionate collector of art and antiques.
   He owns an extensive collection that includes paintings, sculptures, furniture and other items.

Conclusion

These three individuals epitomize the spirit of entrepreneurship, innovation and philanthropy.
They are driving Nigeria’s economic growth and inspiring a new generation of Nigerians to achieve their goals.
Their success stories serve as proof that with hard work, determination and entrepreneurial spirit, anything can be achieved.