5 Richest Yoruba Men in Nigeria and their Net Worth (2021)

5 Richest Yoruba Men in Nigeria and their Net worth (2021)

Today we’ll be highlighting some of the people who can individually be called the richest Yoruba men in Nigeria. It’s not for ethnic profiling or stuff, but it’s nice to know big guys who happen to be Yoruba.

I’m sure you must have heard the famous saying “Money dey for where e dey” somewhere on the streets or online. This is just a way of saying riches and wealth can be identified in Nigeria, even in the midst of poverty.

There are people who we can regard as the “bigwigs” of the country, based on the amount of money they’re worth.

Richest Yoruba Men in Nigeria and their Net worth

Mike Adenuga – Richest Yoruba Man in Nigeria

Mike Adenuga Jnr. is the richest Yoruba man in Nigeria on this list of the richest Yoruba men in Nigeria. He’s held that title for a while and in fact, the 2nd richest man in Nigeria.

5 richest Yoruba men in Nigeria and their Net worth

Mike Adenuga net worth according to Forbes is estimated at $6.3 billion in 2020. He starts as a serious entrepreneur way back in 1991, with his oil company Conoil (which is short for Consolidated Oil Drilling Company).

He’s currently the owner of Globacom and has hands in a lot of other businesses. He’s indeed representing Nigeria in terms of wealth and happens to be Nigerian.

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Jimoh Ibrahim

This man is a businessman at the core, sitting at the helm of a number of conglomerates. He’s the dough to show for all that hard work too – currently worth around $1.1billion.

Jimoh Ibrahim

He’s from Ondo state (a proper Yoruba man), and some of the companies he owns include NICON Insurance, Median Hotels and Air Nigeria. He manages all of them from the Global Fleet Group, of which he’s the CEO and chairman.

Jimoh Ibrahim is 55 years of age. He’s also a lawyer and a politician; he once contested for the Ondo governorship. He’s one serious Yoruba businessman that we have in Nigeria.

Femi Otedola

Everyone knows him. He’s the popular “Otedola” we hear on the TV. He is a very rich Yoruba man who has a lot of businesses and investments.

Femi Otedola billion nairaHe owns Forte Oil, which is widely regarded as his major investment in petroleum distribution and marketing.

He’s worth $1.16 billion. He’s done so much for the country as well; He bought the Gerugu Mega Plant in a bid to help the country’s energy sector. It is a big deal, considering that the plant contributes 414MW of electricity to the national grid.

He is regarded as one of the richest men in Nigeria, and that’s because he’s done so many works of charity both nationally and internationally.

Tunde Folawiyo

Tunde Folawiyo is the Managing Director of the Yinka Folawiyo Group. He took over from his father when the latter passed away in 2008.

5 richest Yoruba men in Nigeria and their Net worth

Now, he wasn’t just living off of his “daddy’s money”. He’s got some other engagements, and when they combined with his position at the Yinka Folawiyo Group, they made Tunde Folawiyo very successful.

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Forbes estimated his net worth to be around $650 million, and he’s currently working at MTN as the Director. He’s also got a law firm that still operates in Nigeria (he’s a retired lawyer). He’s a really versatile businessman in many ways.

Oba Otudeko

This is another rich man coming from a Yoruba state. He’s known to be the chairman of Honeywell Group and FBN Holdings PLC and currently the 5th on the list of Richest Yoruba Men in Nigeria.

Oba Otudeko - Estimated Net Worth $550 Million

His business is doing so well in the country, with Honeywell being very popular in many households in the country.

He’s also held several positions, notably with the Nigerian Stock Exchange and Fan Milk. For his meritorious performance, he received the CFR (Commander of Federal Republic) national award in the year 2011.

Conclusion Richest Yoruba Men in Nigeria and their Net Worth 

It is good to recognize the works and worth of the richest people in the country, as they do in fact contribute to the development of certain sectors. This list of the richest Yoruba men in Nigeria highlights a section of the country that has rich people.

Like I have mentioned before, it is not for the purpose of ethnic profiling. It is so that you can know some of the people that are very wealthy in the country, and are currently calling the shots.



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