Nigerian families with old money and why these families are still in business

Nigeria has several families with old money, many of which have maintained their wealth and influence for decades.

Here are some of the prominent Nigerian families with old money and why they have remained successful:

1. Dantata Family: The Dantata family is one of the wealthiest and oldest families in Nigeria, with a business history dating back to the early 1900s. The family’s wealth is primarily derived from its interests in agriculture, trading, and manufacturing.

The Dantata family is a prominent Nigerian family that has a long history of entrepreneurship and business success. The family’s patriarch, Alhassan Dantata, was a famous trader and businessman in the early 20th century who established the Dantata and Sawoe Company in the city of Kano. The Dantata and Sawoe Company became one of the largest and most successful trading companies in Nigeria, with interests in agriculture, trading, and manufacturing. The company’s success allowed the Dantata family to become one of the wealthiest families in Nigeria, with significant business interests in real estate, agriculture, and finance. Today, the Dantata family is still involved in various business ventures and has expanded its portfolio to include investments in oil and gas, telecommunications, and construction. The family is also known for its philanthropy and has made significant contributions to various charitable causes in Nigeria, particularly in the areas of education and healthcare. Some of the notable members of the Dantata family include Aliko Dangote, who is the richest man in Africa and is a cousin of the family, as well as his brother Sani Dangote, who is also a successful businessman and investor. Overall, the Dantata family has a significant influence on the Nigerian economy and remains one of the most respected and influential families in the country.

2. Ibru Family: The Ibru family is another prominent Nigerian family with old money. The family’s wealth is primarily derived from its interests in shipping, agriculture, and real estate. The family’s patriarch, Olorogun Michael Ibru, established the Ibru Organization, which has become one of the largest conglomerates in Nigeria.

The Ibru family is a prominent Nigerian family that has been involved in various business ventures and philanthropic activities for several decades. The family’s patriarch, Michael Ibru, was a successful businessman and entrepreneur who founded the Ibru Organization, a conglomerate with interests in shipping, agriculture, real estate, and hospitality.

Under Michael Ibru’s leadership, the Ibru Organization became one of the largest and most successful companies in Nigeria, with significant investments and business interests in various sectors of the economy. The family’s success and wealth allowed them to establish the Michael and Cecilia Ibru Foundation, which is dedicated to improving the lives of disadvantaged communities in Nigeria through various educational, health, and social initiatives.

Following Michael Ibru’s death in 2016, the Ibru family has continued to be involved in various business ventures, including shipping, hospitality, and real estate. The family’s legacy of entrepreneurship and philanthropy has earned them a significant reputation in Nigeria and beyond, with many members of the family being recognized for their contributions to the country’s development and progress.

Some of the notable members of the Ibru family include Felix Ibru, who served as the governor of Delta State in Nigeria, and Goodie Ibru, who is a successful businessman and philanthropist. Overall, the Ibru family has played a significant role in the development of Nigeria’s economy and society, and their contributions continue to make a positive impact on the country’s progress and growth.

3. Elumelu Family: The Elumelu family is a prominent Nigerian family with a long history of entrepreneurship and business success. The family’s patriarch, Tony Elumelu, is a well-known philanthropist and entrepreneur who founded the Tony Elumelu Foundation and United Bank for Africa.

The Elumelu family is a prominent Nigerian family with a strong presence in the business world. The family’s patriarch, Tony Elumelu, is a successful entrepreneur and investor who is known for his contributions to the Nigerian economy and his philanthropic activities.

Tony Elumelu is the founder of the Tony Elumelu Foundation, which is dedicated to promoting entrepreneurship and business development in Africa. He is also the founder of the Heirs Holdings Group, a diversified investment company with interests in finance, energy, real estate, and hospitality.

Under Tony Elumelu’s leadership, the Heirs Holdings Group has become one of the largest and most successful investment companies in Africa, with significant investments in various sectors of the economy. The family’s wealth and success have allowed them to establish the Elumelu Family Foundation, which is dedicated to promoting education, healthcare, and economic empowerment in Nigeria and other African countries.

In addition to Tony Elumelu, other members of the Elumelu family are also involved in various business ventures and philanthropic activities. For example, Tony’s brother Ndudi Elumelu is a Nigerian politician and member of the Nigerian House of Representatives.

Overall, the Elumelu family has made significant contributions to the Nigerian economy and society, and their entrepreneurial spirit and philanthropic activities have earned them a respected reputation in the country and beyond.

4. Adeleke Family: The Adeleke family is one of the wealthiest families in Nigeria, primarily due to the business interests of its patriarch, Dr. Deji Adeleke. The family’s wealth is derived from its interests in real estate, oil and gas, and music.

The Adeleke family is a prominent Nigerian family that has made significant contributions to the country’s business, politics, and entertainment sectors. The family’s patriarch, Chief Adeleke, was a successful businessman and philanthropist who founded several businesses, including the Adeleke University in Osun State, Nigeria.

One of the most well-known members of the Adeleke family is Davido, a popular Nigerian musician who has achieved international recognition for his music. Davido is the son of Dr. Deji Adeleke, who is a successful businessman and entrepreneur with interests in various sectors of the economy, including real estate, finance, and energy.

Under Dr. Deji Adeleke’s leadership, the family’s businesses have grown significantly, and they have become one of the wealthiest and most influential families in Nigeria. The family has also been involved in philanthropic activities, and they have donated generously to various causes, including education, healthcare, and poverty alleviation.

Overall, the Adeleke family’s contributions to the Nigerian economy and society have earned them a respected reputation in the country, and their success and influence continue to make a positive impact on the country’s progress and development.

5. Saraki Family: The Saraki family is another prominent Nigerian family with old money. The family’s patriarch, Olusola Saraki, was a prominent politician and businessman who established the Societe Generale Bank in the 1970s. The family’s wealth is derived from its interests in real estate, agriculture, and politics.

The Saraki family is a prominent Nigerian family that has made significant contributions to the country’s politics and business sectors. The family’s patriarch, Dr. Olusola Saraki, was a politician and businessman who served as a senator in the Nigerian National Assembly and held various other political positions.

One of the most well-known members of the Saraki family is Bukola Saraki, Dr. Olusola Saraki’s son, who is also a politician and businessman. Bukola Saraki served as a governor of Kwara State and also served as the president of the Nigerian Senate from 2015 to 2019.

The Saraki family has also been involved in various business ventures, including banking, oil and gas, and real estate. The family’s business interests have allowed them to accumulate significant wealth and influence in Nigeria.

However, the Saraki family has also been the subject of controversy and allegations of corruption. In 2019, Bukola Saraki was accused of corruption by the Economic and Financial Crimes Commission (EFCC), but he denied the allegations and was eventually cleared of the charges.

Overall, the Saraki family’s contributions to Nigerian politics and business have been significant, but their legacy has been marred by controversy and allegations of corruption.

All these families have maintained their wealth and influence in Nigeria by diversifying their business interests, investing in key industries, and leveraging their social connections to create opportunities for growth. They have also been able to adapt to changes in the business environment and remain relevant by leveraging new technologies and market trends.