There are 16 African billionaires on Forbes' list this year - an increase of three - and it includes South Africans, Moroccans, Nigerians and Egyptians. Nigeria is undoubtedly one of the most richest country in Africa thanks to its oil reserves. The country also have some of the highest richest people in Africa.
Below is the 8 Richest People In Nigeria:
8 No.1 Aliko Dangote
$11.2 billion - As of March 2012Nigeria's Richest Person: #1Source of wealth: sugar, flour, cement , self-made Age:54 ,Citizenship: Nigeria , Residence: Lagos, NigeriaMarital Status: Married, Children:3
Aliko Dangote is worth $11.2 billion as of November after making money from interests in sugar, flour milling, salt processing, textiles, real estate, oil, gas and cement. He is the richest person in Nigeria and is the 76th richest person in the world. His fortune grew 557% over the last year - growth that was sparked by listing Dangote Cement. This allowed his investments across Africa to be integrated with Benue Cement, and the company now constitutes a quarter of the Nigeria Stock Exchange's total market cap. He recently purchased a Bombardier aircraft as a birthday present for himself - it's worth $45 million.
7 No.2 Mike Adenuga
$4.3 Billion - As of March 2012Nigeria's Richest Person: #2Source of wealth: Telcom, banking, oil, self-made Age:58 , Citizenship: Nigeria , Residence:Lagos, NigeriaMarital Status: Married
Mike Adenuga is the second-richest person in Nigeria with a fortune of $4.3 Billion. He is the 248th richest person in the world and made his money in telecommunications with Globacom, a carrier that has recently launched its 4G network. The company has also invested in the submarine cable connecting Nigeria to the world. His beginnings were small, as he started selling lace and Coca-Cola, but then he finally won a contract to build military barracks in the late 1980s. Adenuga also has a stake in the Equitorial Trust Bank, and is the chair of Conoil.
6 #3 Jim Ovia
Net Worth: $775 Million - As of November 2011Source: BankingCitizenship: Nigeria
5 #4 Theophilus Danjuma
Net Worth: $600 Million - As of November 2011Source: OilCitizenship: Nigeria
4 #5 Oba Otudeko
Net Worth: $550 Million - As of November 2011 Source: Manufacturing, TelecomCitizenship: Nigeria
3 #6 Hakeem Belo-Osagie
Net Worth: $450 Million - As of November 2011Source: TelecomCitizenship: Nigeria
2 #7 Abdulsamad Rabiu
Net Worth: $400 Million - As of November 2011Source: Sugar, Flour, CementCitizenship: Nigeria
1 #8 Mohammed Indimi
Net Worth: $330 Million - As of November 2011Source: OilCitizenship: Nigeria
[See full list on Forbes.com]