Women have been relegated to the background for the longest time, particularly in the kitchen.
In this era, women are coming out, and adopting the “no gree for anybody” mantra.
They have left the kitchen to compete with men in the business world.
In Africa, crude stereotypes have constrained the aspirations of many girls, ladies, and women, but that has changed.
These powerful, non-traditional women are setting new boundaries and shattering the agelong bias that has limited many women.
They are leading the paths for many others to financial eminence and sustained influence.
In this article, we shall look at the 5 top richest Nigerian women, their net worth, sources of income, and the factors that contribute to their financial success.
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5. Stella Okoli
Dr. Stella Okoli with an estimated net worth of $800 Million joins the list of the Forbes top 10 richest women in Nigeria.
She is the Chief Executive Officer as well as the Managing Director for Emzor Pharmaceutical Industries Limited; one of the leading pharmaceutical companies in the country.
Stella started as a ward/clinical pharmacist at Middlesex Hospital in London and afterward, she worked as a pharmacist at Boots UK formerly known as Boots the Chemist Ltd.
She then returned to Nigeria and was employed for a short time as a pharmacist at Massey Children Hospital, Lagos before joining a pharmaceutical manufacturing firm, Park Davies Nigeria Limited.
Stella began her entrepreneurship career with a small retail pharmacy, in Shomolu, Lagos, importing pharmaceutical drugs into the country.
The establishment was later transformed into Emzor Pharmaceuticals in 1984.
Emzor Pharmaceutical is a leading indigenous pharmaceutical company that has more than 50 products under its name.
4. Fifi Ejindu
Fifi Ejindu is an architect, entrepreneur, philanthropist, and one of the richest women in Nigeria, with an estimated net worth of $850 Million according to Forbes.
She is the founder and CEO of Starcrest Group of Companies, One of the biggest architectural firms in the Country
Starcrest Group of Companies is divided into three subdivisions, engaged in real estate, building and designing, and investment opportunities.
The subsidiaries involved are real property management, construction, and design, oil and gas, project management as well as youth empowerment and investment opportunities.
Starcrest is responsible for some of the foreign investment in the country. With the help of the former President of Nigeria Chief Olusegun Obasanjo.
The company was able to influence fifty prominent businessmen from the U.A.E to invest in various sectors within the Nigerian economy.
The company is also responsible for the management of many residential and industrial villas around the country.
3. Daisy Danjuma
Former Edo State Senator, Daisy Danjuma takes third place among the Forbes top 10 richest women in Nigeria with an estimated net worth of $900 Million.
She is an attorney and the spouse of the defense minister General Theophilus Yakubu Danjuma.
Daisy began her career as an Executive Assistant for Nigerian Acceptances Limited (NAL) from 1977 to 1978.
She was the Company Secretary/Legal Adviser for the Nigerian Television Authority (NTA) from 1982 until 1992.
She was elected as a Senator in Nigeria in the Federal Republic of Nigeria (2003-2007) serving as Edo South’s Senator.
The Nigerian attorney served on the board of several public and private firms.
She was the director of the leading petroleum company, South Atlantic Petroleum (SAPETRO), and was appointed the chairperson of May & Baker Nigeria PLC, a leading pharmaceutical manufacturing company in 2019.
2. Hajia Bola Shagaya
The CEO and founder of Bolmus Group International, Hajia Bola Shagaya takes second place among the Forbes top 10 richest women in Nigeria, with an estimated net worth of $950 Million.
She is a Nigerian commercialist, who earned fortunes by venturing into several businesses.
As earlier stated Bola Shagya is the CEO and founder of Bolmus Group International, a multifaceted Nigerian conglomerate with investments across a variety of industries, including oil & gas, real estate as well as banking, and communications.
She began her career at the Central Bank of Nigeria (CBN) where she was employed in the auditor department.
She left the banking sector and began importing photographic equipment, establishing her first company, Konica Photographic Equipment.
Bola has since then emerged as one of the biggest entrepreneurs on the continent, founding several companies such as Fotofair (Nigeria) Limited, one of the most renowned photographic labs in Nigeria, with more than 30 branches across the nation.
She established Practoil Limit one of the biggest exporters of and distributors of base oils in Nigeria, Voyage Oil and Gas Limited, a Crude Oil trading and export company.
The company also operates as a distributor and as an independent marketing company for petroleum, oil products, as well as gas.
1. Folorunso Alakija
The 70-year-old business magnate, Folorunsho Alakija, is the richest woman in Nigeria, with an estimated net worth of $1 billion according to Forbes.
Also, she is the founder of many African multi-national companies such as Famfa Oil, Rose of Sharon Group, and many others.
Folorunsho, who is also the richest woman in Africa made her money as one of the major stakeholders in the Nigerian Oil and Gas industry.
She began her career as an executive secretary for Sijuade Enterprises in Lagos, in 1974.
She also worked in several corporate and baking firms, before venturing into entrepreneurship.
Alakija ventured into business launching her own fashion-design company, Supreme Stitches.
The brand’s name later was changed to Rose of Sharon House of Fashion.
FAMFA Oil Limited was established in 1991 and was granted the Oil Prospecting License (OPL) to operate on a 617,000-acre oil block located in the Niger Delta.
It is imperative to note that the Alakija Mansion located in Ikoyi, Lagos State is the most expensive house in Nigeria, with an estimated value of ₦10 Billion.
These women – once constrained by societal expectations – exemplify the spirit of resilience, entrepreneurship, and dedication, paving the way for future generations of African women.
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They have not only shattered glass ceilings but have also created pathways for future generations.
As we look to the future, let the stories of these remarkable women serve as a reminder that barriers are meant to be broken, and success knows no gender.
Here’s to the promise of a more inclusive, prosperous future for Women in Africa and beyond!
Summary of the Richest Women in Nigeria
Here is a table summarizing the list of the richest women in Nigeria, it includes their net worth, age, and source of wealth.
| Rank | Name | Networth | Age | Source of Wealth |
| 1 | Folorunsho Alakija | $1 Billion | 70 | Oil & Gas |
| 2 | Bola Shagaya | $950 Million | 62 | Investments |
| 3 | Daisy Danjuma | $900 Million | 69 | Pharmaceutical |
| 4 | Fifi Ejindu | $850 Million | 60 | Real Estate & Investment |
| 5 | Stella Okoli | $800 Million | 78 | Pharmaceutical |
| 6 | Bimbo Alashe | $750 Million | 60 | Retail |
| 7 | Mo Abudu | $650 Million | 57 | Entertainment |
| 8 | Stella Oduah | $600 Million | 60 | Oil And Gas |
| 9 | Ngozi Okonji Iweala | $500 Million | 67 | Politics and Finance |
| 10 | Diezani Allison Madueke | $500 Million | 61 | Oil and Gas |