During the era of oil boom in Nigeria, thousands of millionaires and billionaires sprung up in the nation. Some had national oil blocks allocated personally to them. Many brokered million dollar deals with international buyers. Since 2012, the value of oil production in Nigeria has declined. Attributed mainly to the USA discovering significant oil assets domestically and internationally. Other industries in Nigeria also took a hit in revenue and net worth. Some of the industries that declined in wealth include Telecommunications, Construction and Retail.
Top 3 Billionaires In Nigeria With Declining Wealth In 2018
- Aliko Dangote – Wealth Declined by approximately $2 Billion according to 2019 Forbes List.
- Folorunsho Alakija – Ranked 19 out of 20 of African Billionaires by Forbes 2019 List. Any further decline in net worth, Alakija would likely not make the 2020 list.
- Femi Otedola – Did not make the 2019 Forbes List of Billionaires.
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Olatorera Consultancy Limited publishes an annual list of Africa’s Best.
Africa’s Best is Olatorera Consultancy Limited’s prestigious annual list of 100 great companies and 100 great leadersin Africa. The list is non-biased, ethical, well-aligned with public knowledge and developmentally fit for public use. The list is compiled annually by 3 or more senior consultants at Olatorera Consultancy Limited (OCL) and approved by the executive leadership team and the board of directors. In compiling this list of Africa’s Best, OCL Consultants conducted interviews and research with clients, employees, Africa’s growth enthusiasts and subject-matter-experts knowledgeable about the nominated best leaders and nominated best businesses. The team at Olatorera Consultancy Limited are highly assertive on providing the seal and stamp of “Africa’s Best” to great businesses in Africa and beyond.