Lifestyle
Who Is the Richest Woman in Nigeria?
In conversations about wealth and influence in Africa, Nigeria often takes center stage. While much of the spotlight falls on male billionaires dominating the oil, telecoms, and banking sectors.
A remarkable group of women are shattering glass ceilings and making their mark on the business world. They are the wealthiest women in Nigeria, not only accumulating great fortunes but also inspiring future generations with their drive and ingenuity.
Here are the stories of the top 5 richest women in Nigeria, their backgrounds, business ventures, and the influence they wield.
1. Folorunsho Alakija (Estimated net worth: $1 billion)
Folorunsho Alakija is a true self-made billionaire, defying stereotypes and paving the way for other women in Nigeria. In 2020, Forbes termed Folorunso Alakija the richest woman in Nigeria and “the most powerful woman in Africa.”
She started her career in fashion design, establishing a successful clothing line. However, her entrepreneurial spirit led her to explore new ventures. In the 1990s, Alakija’s company, Famfa Oil, was awarded an oil exploration license, propelling her to the forefront of Nigeria’s oil and gas industry. She is also a philanthropist, supporting education initiatives and empowering women through her foundation.
2. Hajia Bola Shagaya (Estimated net worth: $950 million)
Hajia Bola Shagaya’s journey began in the civil service, working as an auditor for the Central Bank of Nigeria. However, her entrepreneurial spirit soon took hold. She started by importing photographic equipment, laying the foundation for her successful business group, Bolmus Group International.
This diversified conglomerate has interests in oil and gas, real estate, banking, and photography. Shagaya is a prominent figure in Nigerian business circles and a role model for aspiring women entrepreneurs.
3. Daisy Danjuma (Estimated net worth: $900 Million)
Daisy Danjuma is the wife of retired Nigerian General Theophilus Danjuma, a prominent businessman. While details of her early career are limited, she has become a powerful figure in her own right.
Danjuma is the co-founder of Afenmai Austeniti Limited, an oil and gas exploration company. She is also known for her philanthropic work, particularly in the areas of education and healthcare.
4. Fifi Ekanem Ejindu (Estimated net worth: $850 million)
Fifi Ekanem Ejindu is an architect, entrepreneur, and benefactor with familial ties to King James Ekpo Bassey of Cobham Town, Calabar. She ranks among the foremost female architects in Nigeria and established the Starcrest Group of Companies, encompassing real estate development, architectural design, and investment sectors.
Her fortune is estimated at approximately $850 million. In 2013, she was honoured with the African Achievers Award for Lifetime Achievement in Arts and Fashion.
Renowned for her innovative and neo-traditional approach to architecture, Fifi continues to make significant impacts in her field.
5. Stella Okoli (Estimated net worth: $800 million)
Stella Okoli, an industrious pharmacist, business leader, and philanthropist, is the driving force behind Emzor Pharmaceutical Industries LTD. From a humble pharmacy, she has grown her business into a pharmaceutical giant valued at $800 million.
She also holds leadership roles as the Vice President of the Manufacturers Association of Nigeria and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture.
In memory of her son Chike Okoli, who passed away in 2005, she founded the Chike Okoli Foundation in 2006. This charity aims to fight poverty and diseases, with a special focus on preventing cardiovascular diseases. Stella Okoli also manages the Chike Okoli Centre for Entrepreneurial Studies.
Breaks are the perfect time to have quality time with one’s loved ones and knowing holiday time ahead is crucial for planning holidays, family visits, and experiencing exciting activities.
Holidays, both religious and secular, are declared for a variety of reasons, including celebrating shared history and values, fostering community connections, and providing work-life balance by taking a day off from work.
Many holidays also commemorate important people or historic events. To this end, Legit has noted the forthcoming public holiday, assisting readers in planning effectively.
In Nigeria, there is only one public holiday in the third quarter (July 1 – September 30) of 2026: Eid ul-Mawlid. Eid ul-Mawlid 2026 may be observed on Wednesday, August 26 (tentative date).
Full List of Public Holidays Federal Govt of Nigeria Will Declare in 2026
A student of Osun State University, identified simply as Ademola, has narrated how she was assaulted after some some soldiers from the Army Depot, Osogbo invaded the halls of residence of students of the university.
Ademola, in a video shared by OsunDefenderNG, said the incident occurred while she was alone in her room preparing a meal.
According to her, she initially noticed the presence of soldiers around the area, but believed the situation had calmed down before the officers allegedly returned.
Recall that on Monday evening, some soldiers from the Army Depot, Osogbo, invaded halls of residence occupied by students of Osun State University, assaulted several students and carted away more than 60 mobile phones and other electronic gadgets.
Some female students were also reportedly stripped naked and forced to dance unclad by the soldiers, who were said to be among personnel that participated in the Army Depot’s passing-out parade held last Saturday.
Recounting the incident, she said, “My name is Ademola…, a student of Osun State University. I was in my hostel room cooking when I noticed they (soldiers) were around. After a while everything died down. However, later, we started hearing noise again.
“They started pointing their touch to my room and asked who was there and what were they doing this for. The next thing, they asked me to open my door and I opened the door.
“So, one of them asked how many of us was inside the room and I told him two. I also told him my roommate wasn’t around.”
While her emotions betrayed her, Ademola alleged that one of the soldiers then became physically aggressive.
“Then, he pinned me to my bathroom door, told me I would like it. He also told me not to shout. So, I begged him.
“I had to look for a way to get out of his hold and moved to the door. On moving to the door, I told him to move out. He asked if I wanted him to move out,” she added.
She further alleged that another soldier entered the room and attempted to restrain her.
She narrated, “While on that, his colleague came in and also told me to calm down, that I would love it and that I shouldn’t shout.
“So, when they started moving, I shouted and screamed. After shouting, they both moved out and I had to use force to close the door.”
According to the student, one of her hostel mates later came to check on her after hearing the commotion.
“After closing the door, one of my hostel mates that was there came to knock on my door to check up on me and he left,” she said.
Following the incident, the Depot Nigerian Army, Osogbo, on Tuesday, announced that it had commenced an investigation into allegations of misconduct involving some of its personnel after receiving a complaint from the National Association of Nigerian Students, Southwest Zone D.
The Army said the investigation was intended to establish the facts surrounding the incident and assured that anyone found culpable would be brought to justice.
Osoba, who hailed from Ijebu Ode in Ogun State, died peacefully at his residence in the early hours of Thursday, May 14, 2026.
The announcement was contained in a statement issued by The Yusufu Bala Usman Institute in Zaria, Kaduna State.
The statement, signed by the Director of the institute, Norma Perchonock, read: “With heavy hearts but with gratitude for a life lived in the service of scholarship and humanity, the Yusufu Bala Usman Institute announces the death of our Chairman, Dr. Olusegun Osoba, who passed away peacefully today, 14th May 2026, at his residence in Ijebu Ode.
“He was 92 years old. Dr. Osoba was a rare scholar whose whole life was dedicated to teaching and research that was designed to educate his students, colleagues and the general public about the nature of the capitalist system and the structures of neo-colonialism that dominates the Nigerian state, and to propose ways of liberating the country from this odious system in order that its citizens may live their lives free from exploitation and oppression.
“His work in economic history was groundbreaking in many ways as he sought to expose the actual workings of the economic system that was holding back development in the country.
“His writings were wide ranging, from scholarly books and papers to articles and columns in newspapers that reached a wide audience. One of his major achievements was to author, together with his close comrade Yusufu Bala Usman, The Minority Report and Draft Constitution for the Federal Republic of Nigeria, 1976.
“This document has had a profound impact on the various debates and discussions about the way forward for Nigeria.
“Segun is gone but he has left an enduring legacy and a shining example for patriotic Nigerians to emulate. Funeral arrangements will be as announced by the family.”
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