BusinessNews , a web site owned by Aniekov Nigeria Limited has published the list of 20 richest people in Nigeria with Aliko Dangote of Dangote Group; and  Mike Adenuga of Mike Adenuga Group on  top of the list.

The website said the list was compiled after taking into account the value of their shares held in quoted companies; the size and market share of their companies; the number of companies they own and its assumed value; the market value of their companies’ brands; and the impact of their companies on the Nigerian economy

Robert Obi, author of the list “today, I will be compiling a list of Nigerian billionaires and top richest people in Nigeria but please this list will be restricted to entrepreneurs only. Politicians and individuals whose source of wealth cannot be traced are excluded from this list.

Most people have asked why so few Nigerians made the Forbes list of richest people in the world. So far, only Aliko Dangote, Mike Adenuga and Femi Otedola Well the answer to that question is this: Forbes estimates the wealth of individuals and rank them based on the value of shares they have in quoted companies (companies listed on the stock exchange) and most of the richest people in Nigeria prefer to run their businesses privately. That’s why they don’t make the Forbes list of richest people in the world” he added.

Apart from Dangote and Adenuga, others ranked are; Femi Otedola – Zenon Oil and Orji Uzor Kalu – Slok Group at number three and four respectively.

Cosmos Maduka – Coscharis Group and Jimoh Ibrahim – Nicon Insurance, Global Fleet made the fifth and sixth position respectively while Jim Ovia – Zenith Bank, Visafone and Pascal Dozie – MTN Nigeria, Diamond Bank occupied seventh and eighth positions respectively.

At ninth is Oba Otudeko – Honeywell Group Nigeria while Alhaji Sayyu Dantata – MRS Group and Umaru Abdul Mutallab – former Chairman First Bank Plc, Mutallab Group came in at 10th and 11th places receptively.

Also on the list are Prince Samuel Adedoyin – Doyin Group at 12th place; Dele Fajemirokun – Chaiman Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards at 13th and Chief Cletus Ibeto – Ibeto Group at 14th.

Raymond Dokpesi – Daar Communication, AIT and Tony Ezenna – Orange Group occupied 15th and 16th position respectively while Chief Molade Okoya Thomas – Chairman CFAO Nig and other six French companies and Ifeanyi Ubah – Capital oil and gas made the 17th and 18th places.

Leo Stan Ekeh – Zinox Computer and Fola Adeola – GTBank were place at 19th and 20th position respectively.

According to the author of the list despite the harsh terrain and business challenges involved with starting a business in Nigeria; the entrepreneurs listed held their ground and fought their way to the top.

“ In a country with a population of over 160 million inhabitants and millions of businesses; these 20 entrepreneurs diligently carved their names in the sands of time Obi said