Tuesday 22 June 2010

1 Trillion naira

Definition: 1,000,000,000,000 or 10 * 100, 000, 000, 000 i.e 10 One hundred billions.

So I had a gathering of my friends over this weekend to chill and watch the Nigerian game ( and yes we lost, so we are officially out, no surprises there....hisss), and as usual when there is a gathering of Nigerians, inevitably some argument breaks out. I actively encourage it to be honest because I love arguing, this is the only chance I get to put my law degree to good use!

I don't know how the topic stirred to money and rich Nigerians, but it usually gets there and we started arguing abut how many Nigerians have 1trillion naira (about 14 billion dollars!). It was such entertaining banter, and I lost my voice in the process!

My position is that there are less than 10 Nigerians that have this much, but some people believe that there could be as many as 50. Defining the terms of "have" was also tricky. Obviously it does not mean they have this much money sitting in a bank account, but the question is

1) are they worth or could they have been worth at some time 1 trillion in all forms of assets, including the wealth of their whole family etc
2) Over the course of their life they have had, spent or acquired up to 1 trillion

The second one will obviously include more people than the first, and this is the group that people believe up to 50 Nigerians could fall into

What do you guys think? How many people do you think have had up to 1 trillion naira?

Heres my list

1) Obasanjo
3)Mohammed Abacha
4)Abdusalam Abubakar
5)James Ibori

These seem to be generally agreed on

The ones that cause the arguments are

6) Dangote
7) Rasaq Okoya or Harry Akande
8) Mike Adenuga
9) Femi Otedola
10) Atiku

Now because these people are business men, I guess it is possible that if you calculate how much money they have had over the course of their lives, it could add up to a trillion......but I highly doubt it......

Miss B


  1. I actually don't think that there is any one person in Nigeria that meets the criteria in any of the 2 groups. 1 trillion is a lot of money.

  2. Yah, I am gonna have to agree with Myne here as well. The Dantata family, which isn't on your list btw, is one that they are on some list, which i don't know, for being the wealthiest family in Africa... so maybe all those names would come something close... but yeah... i doubt it.

  3. yup, i agree with you guys, i dont think anyone has that much
    i think that they have things (houses and cars) that make them appear to be very rich, but I dont think they have that much

  4. forbes estimated Dangote's worth at 2-3billion dollars so thats not close to 1 trillion.

    God forbid if Ibori and co have close to that!!!

  5. Lol.. Una get time oh..
    You should know that there are loads of silent billionaires as well as 'trillionaires' in naija..

  6. I agree with cute4u completely - just compare dantata and dangote = dangote's name is all over the place but the dantata family are uber rich. But I am sure only the guy that has an island (isnt that Harry Akande?) is the only other person that could come close to 1 trillion.

  7. Well i fink there are nigerians who are worth much more than a trillion naira

  8. This is a great article. It gave me a lot of useful information. thank you very much.


  9. Thanks for posting this info. I just want to let you know that I just check out your site and I find it very interesting and informative. I can't wait to read lots of your posts.

    Book Cheap Flight Tickets