Richest Women in Nigeria (2020)

Women are really breaking the barriers. Gone are the days when women are relegated to the background. Even with balancing with the homefront, in their various pursuits: career, business, or whatever possession they choose, women are crushing it big time. They are making the women’s folks proud. Competing healthily with the male counterpart to parlay their ways on top of the ladder. They are making waves.

Are you curious about the richest women in Nigeria in 2020? Do you want to know what they did that bring them enormous wealth?

Here is the list of the 4 wealthiest women in Nigeria and their net worth.

1. Folorunsho Alakija

Folorunsho Alakija

My WCE (woman crush every day). Folorunsho Alakija still remains the richest on the list -no doubt. She’s also still the second wealthiest woman in the rank in the whole of Africa. She temporarily unseated Oprah Winfrey as the richest black woman in 2014.

This woman is a smart oil magnate. Her oil company, FAMFA Oil, is her major source of revenue, though not exclusive to it. She’s still involved in real estate and she’s a fashion enthusiast. Her oil brand is a very successful oil and gas company in Nigeria that’s rated among the best of the best.

As of 2020, Mrs Alakija is estimated to be worth over $1.1 billion. Yes! She is worth a lot more than that.

This beautiful billionaire woman, at 68, still looks dazzling 40. She’s a role-model, a pastor and a philanthropist.

She’s the founder of Rose of Sharon Foundation. Additionally, she is the chancellor of Osun State University, Osogbo.

What awes me about this powerful woman is her wisdom in keeping her homefront with her career and wealth status.

What many see in her is remarkably her wealth, however, that is solidly backed up and supported by her family. Her oil company is a family company: she is the vice-chairman, her husband is the chairman and her children make up the board of directors. How interesting that is.

Alakija is known to own the most expensive house in Nigeria, has a private jet and several other luxuries.

2. Hajia Bola Shagaya

Hajia Bola Shagaya

Hajia Bola Shagaya is a business magnate with diversified business firms across several sectors. Like Alakija, she’s also involved in oil and gas, real estate, photography and banking and finance.

She’s the second richest woman in Nigeria and rated the fourth wealthiest woman in Africa

Bola Shagaya is the CEO of Bolmos Group International. A really smart woman who doesn’t take her business with levity. She knows the complete mastery of time and money and how they can be manipulated to create wealth. Writing this, I’m even inspired!

She repeatedly has a net worth of over $360 million. She’s a prominent member of one of the top banks in Nigeria and diaspora, Unity Bank PLC.

This billionaire has a private jet worth $30 million, several properties and other luxuries.

3. Fifi Ejindu

Fifi Ejindu

Fifi Ejindu is the next richest woman in the hierarchy.

This gorgeous woman studied architecture at Pratt Institutes, United States. So you can call her a very successful architect.

She founded her company, Starcrest Group of Companies when she returned to Nigeria.

Like Alakija and Shagaya, she’s into oil and gas and real estates. She’s also into building and construction.

Ejindu is ranked the third richest woman in Nigeria and one of the wealthiest in Africa.

Fifi Ejindu is the descendant of King Ekpo Bassey, a one time king of Cobham Town in Calabar, Cross River State, Nigeria.

She’s estimated to have a net worth of over hundreds of millions of US dollars.

4. Dr Stella Okoli

Dr Stella Okoli

Dr. Stella Okoli is the founder and CEO of Emzor Pharmaceutical Industries Limited, the popular company that produces Emzor Paracetamol and several other drugs.

She’s undoubtedly the brain behind the initiative of curing illnesses and maintaining good health through her drugs. Her enterprise has earned her multimillions of dollars.

Dr Okoli has an undisclosed estimated net worth but what is known is that she does worth several hundreds of US dollars -making her one of Nigeria’s wealthiest women alive.

Cum profit-making, which is the major goal of every business venture, her own goal is different and this is very spectacular.

Her company is trying earnestly to produce very cheap drugs for Nigerians in order to promote good health all over the country.

She is well-recognized for that globally. Little wonder why her goods have gained global recognition. Go to any hospital, hardly will you cease to find products produced by Emzor Pharmaceutical Industries Limited.


To wrap it all up, I hope the story of these dignified women inspire you. I hope their resilience motivate your confidence that you too can rise to the top and accumulate wealth, especially if you’re a woman. You’re limitless!

To be honest with you, I admire these women so much. Maybe it’s because their wealth isn’t courtesy of that of their husbands. Or perhaps, let me say it accurately that it’s because most of them are self-made millionaires, multimillionaires and billionaires. Although marrying rightly and having the moral, human and material support of one’s spouse too is very germane.

I say this to myself always, “Without commitment, you’ll never start and without consistency, you’ll never finish”.

These influentials are successful because they were committed and consistent to be successful. So, don’t be surprised at how you keep seeing Alakija on top of the list.

Finally, what do you think about these “epitome” of wealth? Don’t forget to drop it in the comment section below.

Make Money As a Freelance Writer in Nigeria

By Wakilat Zakariyau

Wakilat Zakariyau (DaintyZawak) is a leader, pro bead maker, avid reader, growing philantropist, media enthusiast, budding journalist, dreamer, believer and achiever. She is the founder and national convener of DaintyZawak Initiative, a non-profit, non-governmental philanthropic organization that focuses on kids and teenagers. She is also the CEO of Zawak Beads, a beading brand.

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