Historic Richest Foreign Families Doing Business In Nigeria

Nigeria has been regarded has one of Africa’s best and most accommodating countries for foreigners looking to settle down and succeed in Africa. In times past, many foreigners from Lebanon, India and surrounding countries, immigrated their families to Nigeria in search for greater comfort and financial gains. The following list of top 11 richest foreign families doing business in Nigeria, portrays the business success stories of smart patriarchs of those families. Most of these businesses still exist today, many are still generating great wealth for their founding families and some may be struggling. Kano state underwent Boko Haram attacks and economic downturn within the past decade that affected certain businesses.

Richest foreign families

  1. The Aswanis – Indian Haresh Aswani is the Chief of the well-diversified Tolaram Group, Owners of Indomie Noodles. Lagos Based.
  2. The Chagourys – Lebanese Ronald Chagoury is Chairman of the popular Chargoury Group. Lagos based.
  3. The El-Khalils – Lebanese Faysal El-Khlil is Chairman of the well-known Seven-Up Bottling Company PLC. Lagos based. His father Mohammed El-khalil founded the company in 1926. 7up is headquartered in Lebanon and operates in Nigeria, Ghana and Tanzania.
  4. The Moukarims – Lebanese late patriarch of the family Faiz Moukarim founded the notable Moukafoam. Hasib Moukarim is Managing Director of Nigeria Gas and Steel Limited. Kano based.
  5. The Leventis – Well-known in Oyo state, owners of the popular Leventis supermarket. Based in Ibadan.
  6. The Fadlallahs – Patriarch Muhammed Ali Fadlallah has served as Consul General of Lebanon in Kano State. Kano based.



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The Olatorera Consultancy brand has grown from an ambitious solo-preneur to a team of over 50 people highly assertive on providing the seal and stamp of “Africa’s Best” to great businesses in Africa and beyond. Chief Executive Consultant, Olatorera Oniru is very passionate about seeing businesses succeed and operate optimally. She is also notably passionate about witnessing Africa transformed into one of the world’s greatest continents. Olatorera Consultancy has an annual outline of businesses we work with. We currently do not accept unsolicited applications. To network with the team at Olatorera Consultancy Limited, please add your company to the reviews page here. An Olatorera Consultancy company representative may be in touch with you shortly after reviewing your company’s readiness for business consultation services.

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