Delta State, located in Nigeria’s oil-rich Niger Delta region, is home to some of the country’s most influential businessmen and billionaires. This state has produced many wealthy individuals, particularly in the oil, banking, and real estate industries. Among them, Benedict Peters stands out as the richest man in Delta State. His estimated net worth was put at $2.7 billion by Ventures Africa in November 2014, while more recent media reports suggest his fortune has grown to between $3 billion and $5 billion. His dominance in Nigeria’s oil and gas industry, combined with his ventures in mining, real estate, and power, has solidified his position as the richest individual from Delta State.
Who is the Richest Man in Delta State?
The richest man in Delta State is Benedict Peters, a business mogul who made his fortune in the oil and gas industry. As the founder and CEO of Aiteo Group, he has built one of Nigeria’s largest indigenous oil firms, which has grown into a key player in Africa’s energy sector. His strategic acquisitions, including Oil Mining Lease (OML) 29 and the Nembe Creek Trunk Line (NCTL), have significantly increased his wealth and influence. Beyond oil, Peters has diversified his investments into mining, aviation, real estate, and agriculture, ensuring long-term financial sustainability.
How did Benedict become rich?
Peters began his professional journey in the oil sector, working with Ocean and Oil Limited (now Oando PLC). His industry experience led him to establish Aiteo Group in the early 2000s, a company that would grow into one of the largest indigenous oil firms in Nigeria. Through Aiteo, Peters played a key role in acquiring valuable oil assets, including Oil Mining Lease (OML) 29 and the Nembe Creek Trunk Line (NCTL), which significantly boosted the company’s financial position and industry influence.
Key Business Ventures
- Aiteo Group – A leading oil and gas company engaged in petroleum exploration, production, and distribution.
- Bravura Holdings – A mining company with assets in platinum, lithium, copper, steel, and gold across Africa.
- Aiteo Aviation Services – A private aviation firm providing logistical support to oil and gas operations.
- Real Estate and Power – Investments in high-end real estate and power generation projects.
- Agriculture – Involvement in mechanized farming and large-scale food production.
Top 10 Richest Men in Delta State
1. Benedict Peters – $2.7 Billion
Peters has built an empire through his Aiteo Group, which is one of Nigeria’s largest indigenous oil companies. His investments in mining, aviation, real estate, and agriculture have further diversified his wealth. His philanthropic contributions focus on education, healthcare, and youth empowerment, funding scholarships and medical initiatives across Nigeria.
2. Tony Elumelu – $1.98 Billion
A highly influential businessman, Tony Elumelu made his fortune in banking and investments. He is the Chairman of Heirs Holdings, Transcorp, and United Bank for Africa (UBA). His Tony Elumelu Foundation has provided funding and mentorship for thousands of African entrepreneurs. His investments extend to real estate, energy, and hospitality, making him one of Africa’s most respected business leaders.
3. Ned Nwoko – $1.2 Billion
Ned Nwoko is a businessman, politician, and lawyer with vast investments in real estate, tourism, and agriculture. He is particularly known for his luxury real estate developments and large-scale agricultural projects. As a former Senator, he has also been involved in various philanthropic efforts, particularly in malaria eradication initiatives in Africa.
4. Igho Sanomi – $1 Billion
A key figure in the oil and gas industry, Igho Sanomi founded Taleveras Group, a company involved in energy, power, and commodities trading. His expertise in global crude oil transactions has led to significant wealth accumulation. Sanomi also has investments in logistics, real estate, and financial services, making him one of Nigeria’s most diversified business magnates.
5. Jim Ovia – $980 Million
Jim Ovia is the founder of Zenith Bank, one of Nigeria’s largest and most profitable financial institutions. His influence in the banking and telecommunications sector has made him a key player in Nigeria’s financial landscape. He also owns real estate investments across Nigeria and has been a driving force behind numerous fintech innovations in Africa.
6. Ayiri Emami – $500 Million
A businessman with strong ties to oil servicing, real estate, and hospitality, Ayiri Emami is also a prominent Itsekiri leader. He owns luxury hotels, entertainment businesses, and oil servicing firms. His influence extends into Niger Delta politics, making him a powerful figure in the region.
7. Godwin Agofure – $400 Million
As the founder of GIGM (God is Good Motors), Godwin Agofure revolutionized Nigeria’s transport and logistics industry. His business has expanded beyond passenger transport into logistics and nationwide haulage services. His company is a major employer in Nigeria, contributing significantly to economic growth.
8. Victor Ochei – $350 Million
Victor Ochei is a businessman and politician with interests in power generation, engineering, and real estate. As a former Speaker of the Delta State House of Assembly, he leveraged his political influence to expand his investments in renewable energy and large infrastructure projects.
9. Emmanuel Emoefe – $300 Million
Founder of Portplus Limited, Emmanuel Emoefe has made a fortune in marine logistics, oil servicing, and engineering. His company provides critical logistics solutions to major oil firms operating in the Niger Delta. He has also diversified into industrial projects and infrastructure development.
10. Patrick Utomi – $250 Million
Patrick Utomi is a renowned economist, business consultant, and media entrepreneur. He founded Lagos Business School, which has produced some of Africa’s top business executives. His interests in publishing, business consulting, and media enterprises have contributed to his vast wealth. He remains a leading advocate for entrepreneurship and economic policies in Nigeria.
Conclusion
Delta State is home to some of the wealthiest individuals in Nigeria, with Benedict Peters leading the pack as the richest man in Delta State. His dominance in oil and gas, mining, and aviation underscores the impact of the energy sector on wealth creation in the region.
Beyond Peters, billionaires like Tony Elumelu, Ned Nwoko, and Jim Ovia have built empires in banking, real estate, and tourism, reflecting the diverse economic strengths of the state. Their contributions to Nigeria’s economy, philanthropy, and innovation continue to shape the business landscape, making Delta State an economic powerhouse.