Top 11 Richest Men in Borno State and Net Worth

Nuelson Penuel Wednesday, November 8, 2023 Basis



In Borno State, Nigeria, there are several prominent businessmen who have achieved remarkable success in their respective fields. While Aliko Dangote, an influential and highly regarded business tycoon, stands out as the wealthiest person in the country, Borno State has its own group of exceptionally affluent individuals. Let's delve into the biographies, business types, educational backgrounds, and net worth of 11 of the richest men in Borno State, excluding Aliko Dangote.

1. Alhaji Muhammadu Indimi:

Born in Maiduguri, Alhaji Muhammadu Indimi is an accomplished businessman and the founder of Oriental Energy Resources. Having established his wealth through investments in oil exploration and production, Indimi's net worth stands at an estimated $550 million. He completed his higher education at Ahmadu Bello University.

2. Alhaji Modu Sheriff:

Renowned as a prominent politician, Alhaji Modu Sheriff has also made his mark in the business world. He serves as the Chairman and founder of the Sheriff Group of Companies, with diverse interests in sectors like agriculture, solid minerals, logistics, and construction. Sheriff's net worth is estimated to be around $500 million.

3. Alhaji Mai Deribe:

With a net worth of around $320 million, Alhaji Mai Deribe is a renowned entrepreneur in Borno State. He established Cavendish Petroleum, an oil exploration and production company, which has significantly contributed to his wealth. Deribe pursued his education at Ahmadu Bello University.

4. Alhaji Bukar Abba Ibrahim:

Having served as a former governor of Yobe State, Alhaji Bukar Abba Ibrahim is also a successful businessman. His investments in sectors like oil and gas, agriculture, real estate, and education have played a vital role in his estimated net worth of $200 million. Ibrahim obtained his university education at the University of Ibadan.

5. Alhaji Lawan Bukar Imam:

Known for his vast business empire and philanthropic endeavors, Alhaji Lawan Bukar Imam has amassed significant wealth. He is the founder of Bukar Group, an organization involved in areas such as petroleum products distribution, agriculture, real estate, and construction. Imam's net worth is estimated to be around $180 million.

6. Alhaji Mohammed Indimi:

A notable figure in the oil industry, Alhaji Mohammed Indimi is the founder of Oriental Energy Resources. Apart from his involvement in the oil sector, he has diversified his business interests in industries like transportation, real estate, and telecommunications. Indimi's net worth is approximately $150 million.

7. Alhaji Umaru Mustapha Ali Shinkafi:

Having established various successful businesses, Alhaji Umaru Mustapha Ali Shinkafi has earned considerable wealth. He is known for his ventures in sectors like agriculture, real estate, hospitality, and logistics. Shinkafi's estimated net worth is around $120 million.

8. Alhaji Bukar Bolori:

An accomplished businessman with investments in diverse industries, Alhaji Bukar Bolori has made a name for himself in Borno State. His interests include manufacturing, real estate, agriculture, and telecommunications. Bolori's net worth is estimated to be approximately $100 million.

9. Alhaji Babagana Umara Zulum:

Alongside his political career as the Governor of Borno State, Alhaji Babagana Umara Zulum has significant business interests. He has investments in sectors such as petroleum products distribution, agriculture, real estate, and construction. Zulum's net worth is estimated to be around $90 million.

10. Alhaji Ibrahim Ali Gubio:

Alhaji Ibrahim Ali Gubio is recognized for his success in various business ventures. He has investments in sectors like manufacturing, agriculture, real estate, and telecommunications. Gubio's net worth is estimated to be around $80 million.

11. Alhaji Mohammed Idris:

Alhaji Mohammed Idris has made significant strides in the business world, particularly in the construction industry. He is the founder of a reputable construction company that has executed numerous projects across Borno State. Idris' net worth is estimated to be approximately $70 million.


These eleven individuals represent a diverse range of business sectors in Borno State. Their entrepreneurial acumen, combined with their strategic investments, has propelled them to great financial success. Additionally, their charitable contributions and philanthropic work have made a considerable impact on their communities. It is important to note that the estimated net worth figures provided are based on available information and may fluctuate over time.

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