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Nigeria’s Richest Men In Tech Are ……………..

31 October 2015   |   11:10 am

The first name on the list is the second richest man in Nigeria, the other is an Oil/Telecom mogul while the last man heads one of the largest mobile telecom networks in Nigeria. Allow me to introduce you to the top 3 richest Nigerian men in Tech according to Forbes and other sources.


Meet Mike Adenuga
Source of Wealth: Telecoms, Oil, Self Made
Current Net-worth According to Forbes: USD 3.4 Billion

Forbes crowned Mike Adenuga the 2nd richest man in Nigeria with Dangote taking the lead. His source of wealth can be traced to major investments in telecoms and oil production.

Mike Adenuga shouldn’t be foreign to any Nigerian, after establishing Globacom in 2003, Mike Adenuga has garnered more than 27 million subscribers. Currently, Globacom is the second largest mobile phone network in Nigeria after MTN.


The 62-year-old Tech billionaire studied at the Ibadan Grammar School before going to US to read Business Administration. He also owns stakes in the Equitorial Trust Bank and the oil exploration firm Conoil. While studying in the 1970s, he had to survive and raise his school fees by working as a security man and a taxi driver.

His company slogan, Glo With Pride was coined from his school’s (NorthWestern Oklahoma State University) slogan Ride With Pride. Today, Mike Adenuga’s net worth is 3.4 billion US Dollars.


Tunde Folawiyo
Source of Wealth: Oil, Telecoms
Current Net-worth: USD 650 Million

Even though his name is not a household name, Tunde Folawiyo is the second richest Nigeria man in Tech and the 35th richest man in Africa. He is the managing director of the Yinka Folawiyo Group, a conglomerate with interests in energy, agriculture, shipping, real estate and engineering.  Other assets include minority stakes in Nigeria’s Access Bank and mobile operator MTN Nigeria.

Tunde_Folawiyo_Forbes- lifemag

Folawiyo who studied and practiced law briefly pushed these aside to follow his passion. Currently, his net worth is 650 million US dollars.


Hakeem Belo-Osagie
Source of Wealth: Telecoms
Current Net-worth: USD 600 Million

The 3rd Richest man in Tech is someone I am allowed to famz. Mr. Hakeem Belo-Osagie is the chairman of Etisalat Nigeria, the fourth largest mobile telecom network with more than 18 million subscribers.  He is also the 40th richest man in Africa.


After more than a decade of running UBA, Hakeem, or Keem as he is widely referred to, shifted his focus to the telecoms industry, This shift is what led to his current net worth.

However, prior to this, his early ambition was to become a mathematician. Hakeem had both his primary and secondary education in Nigeria, He holds M.B.A. from Harvard Business School, a law Degree from Cambridge University, and M.A. in Economics, Philosophy, and Politics from Oxford University.

The reason I am permitted to famz is because I personally met and had a brief interesting conversation with Mr. Hakeem Osagie


By the way, Are there any similarities with these 3 men?


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