The Five Richest Nigerian Stockholders

While a vast majority of Nigeria’s wealthiest businessmen spurn the capital markets, preferring to build their fortunes through privately-held companies, the Nigerian Stock Exchange still accounts for a substantial portion of the wealth of a number of the country’s richest individuals.
Based on figures derived from investment agencies, the latest annual reports and confirmations from capital market
registrars, these are the five richest people who own stocks listed on the Nigerian Stock Exchange. The value of the shares is based on prices at the end of trading on August 9, 2011. Note: these figures exclude private assets.

Aliko Dangote


Net Worth On The NSE:  $12.1 billion
Source: Dangote Group
The commodities titan reigns supreme in Nigeria’s capital markets. Biggest asset: $12.1 billion (market cap) Dangote Cement.  Through his holding company, Dangote owns about 95% of the company’s equity. He snubbed overvaluation claims which trailed the public listing of Dangote Cement last fall. The company’s stock is down 16% since it floated shares; yet to bounce back to IPO price. Dangote is pursuing international expansion. Earlier this month, he received Nigerian Central Bank approval to invest $4 billion outside the country. Dangote plans to channel the funds into the construction of a new cement manufacturing facility in Cote D’Ivoire.
Breakdown Of Dangote’s NSE Fortune:

Dangote Cement: his stake is worth  NN 1.76 Trillion ($11.5 billion)
Dangote sugar: stake is worth N87.95 billion ($574.8 million)
Dangote Flour Mills: stake is worth N59.48 Billion ($389 million)
National Salt Company: stake is worth NN7.57billion($49.5 million)


Jim Ovia

Net Worth on the NSE: $220.5 million
Source: Zenith Bank
The reclusive banker co- founded the Zenith Bank Group in 1990, and grew into one of West Africa’s largest financial services providers by market capitalization ($2.5 billion) and asset base. Ovia was forced to step down as chief executive last year following a Central Bank directive which limits the tenure of bank chiefs to 10 years. But don’t feel sorry for him: Ovia still remains the bank’s largest individual shareholder, controlling nearly 10%. He now runs Visafone, a Nigerian telecom outfit he founded in 2006. Owns vast collection of prime real estate in Lagos, including the Landmark Civic Center in Lagos.
Breakdown of Ovia’s NSE Fortune:
Zenith Bank: stake is worth  N33. 7 billion ($220.5 million)


Sayyu Dantata

Net Worth on the NSE: $67 million
Source: MRS Oil
Sayyu Dantata is the Chairman and Chief Executive of MRS Oil (market cao: $112 million), a leading Nigerian oil marketing company. The company’s operations span several West African countries including Benin Republic, Togo, Cameroon and Cote D’Ivoire.  Dantata is the company’s largest individual shareholder, controlling about 60% of the company. Dantata is a cousin of Aliko Dangote, and is one of Nigeria’s most popular polo patrons.
Breakdown Of  Sayyu Dantata’s NSE Fortune

MRS Oil: his stake is worth N10.2 billion ($67 million)


Oba Otudeko

Net Worth on the NSE: $63.3 million
Source: Honeywell Flour Mills, First Bank
Oba Otudeko, a former banker and renowned boardroom guru, owns a 15.4% stake in Honeywell Flour Mills, an NSE-listed entity which is part of the largely private Honeywell Group-a diversified conglomerate with tentacles in everything from oil marketing to food production, engineering services and finance.  Otudeko is also the largest individual shareholder in First Bank of Nigeria, one of West Africa’s largest financial institutions, where he holds a roughly 1% stake.
Breakdown of Oba Otudeko’s NSE Fortune

Honeywell Flour Mills: Owns stake worth N 4.8 billion ($32million)

First Bank: Owns stake worth N4.79 billion ($31.3 million)


Eddy Martins Egwuenu

Net Worth on the NSE: $54.2 million
Source: Zenith Bank
A former bank chief, Egwuenu is the second largest individual shareholder of the Zenith Bank Group. He also serves as a non-executive director of the company’s board.
Breakdown of Eddy Martins Egwuenu’s fortune:
Zenith Bank: Owns stake worth N8.3 billion ($54.2 million)

betterbext showcase outstanding individuals worthy of emulation!!!

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