11. Tunde Folawiyo
Net Worth: $650 Million
Rank In Nigeria: #11
Rank In Africa: #39 (#50 in 2013)
Tunde Folawiyo is the managing director of the Yinka Folawiyo Group, conglomerate with interests in energy, agriculture, shipping, real estate and engineering.
His father, Wahab Folawiyo, a well known Nigerian businessman and Islamic leader, started the group in 1957 as a commodities trading outfit and served as chairman until 2008 when he passed away. Folawiyo now calls the shots.
The company’s oil exploration firm, Yinka Folawiyo Petroleum, owns a 60% interest in an oil block that contains the Aje offshore field.
Other assets include minority stakes in Nigeria’s Access Bank and mobile phone carrier MTN Nigeria.