Nigeria’s billionaires have contributed to the welfare of the people. Most of them have built foundations, and some give to charity. It is eminent that these billionaires are concerned, and they try as much as possible to eliminate poverty. The majority of Nigerians suffer and some die due to insufficient funds to care for themselves. Also, these billionaires have created job opportunities for youths, and they have also helped small business owners (SMEs).
Meet these billionaires who have helped our country in their own capacity. Listed below are a few of their philanthropic acts.
Aliko Dangote
“My goal is not to be the richest African, but to be the richest philanthropist,” said Aliko Dangote.
The President of the Dangote Group of Companies, Aliko Dangote, has been recognized for his love for humanity- his desire to promote the welfare of others, expressed especially by the generous donation of money to good causes. Through unprecedented donations in Nigeria and in Africa in general, the businessman has been helping victims of natural disasters, building schools and hospitals, and supporting initiatives to eradicate poverty and debilitating diseases. Aliko Dangote started his Foundation, Aliko Dangote Foundation, in 1981 with a mission to enhance opportunities for social change through strategic investments that improve health and well-being, promote quality education and broaden economic empowerment opportunities.
Philanthropic acts:
- In 2020, Dangote Foundation donated N200 million to curtail the spread of Covid19.
- In 2014, Aliko Dangote Foundation (ADF) donated N1 billion to fight against Ebola.
- He donated N100 million to the Save the Children Fund.
- Aliko Dangote Foundation partnered with the Bank of Industry (BOI) to set up an N10 million MSME fund to help upcoming entrepreneurs.
- ADF has committed $100 million to Aliko Dangote Foundation Integrated Nutrition (ADFIN) they tackle severe malnutrition in Nigeria.
Femi Otedola
“Philanthropy is my way of appreciating God’s Kindness” – Femi Otedola
Philanthropy is the word that comes to mind when one thinks of Otedola. The man is a moving monument of thoughtfulness and consideration. It is not his wealth that makes him different from us—he is neither the wealthiest nor the most famous. But, Otedola will give the bit he has, then the bulk he has, and everything else. He owns one of the most impactful foundations – the Femi Otedola Foundation, which many can attest to its impact in promoting the welfare of the human race, particularly, his fellow Nigerians who are in need.
Philanthropic acts
- He donated N5 billion to Save the Children Fund.
- Donated N2 billion to Augustine University, Faculty of Engineering.
- Donated N1 billion for CACOVID.
- The foundation came to the aid of a retired university lecturer, Dr. Inih Ebong after Otedola’s attention was drawn to his deteriorating health condition.
- His foundation is also the biggest donor to the Lagos State Security Trust Fund and awards multi-million naira scholarships to indigent students in Lagos State.
Tony Elumelu
Tony Elumelu is the man whose efforts in grooming and funding Africa’s young and smartest entrepreneurs have directly impacted 9,000 young people across 54 African countries. The Tony Elumelu Foundation is the leading champion of entrepreneurship in Africa.
Philanthropic acts
- In 2015, Elumelu’s Foundation unveiled the TEF Entrepreneurship Programme, to which he committed $100 million to fund and build the capacity of 10,000 African entrepreneurs over 10 years.
- TEF commits seed capital of $5,000 for each person admitted into the programme; the Foundation also offers mentorship and business management training to entrepreneurs.
- $102 million was invested in the TEF Entrepreneurship program while $80 million was paid directly as seed capital to support and grow African start-ups.
Abdul Samad Rabiu
Abdul Rabiu is one of Africa’s richest and the founder of BUA Cement. He is also known for his vast philanthropic gestures. Over the years, he has donated substantial wealth to create a greater impact. The Abdul Samad Rabiu Africa Initiative (ASR Africa) – is the brainchild of the Industrialist, philanthropist, and founder of BUA Group, Abdul Samad Rabiu.
Philanthropic acts
- ASR Africa has donated $3 million for a development initiative in Niger Republic.
- ASR Africa refurbished the neonatal unit at Gwarimpa General Hospital and donated over 80 pieces of new, modern equipment.
- ASR Africa donated 3 ambulances to bolster Ekiti State’s healthcare system.
- He donated and handed over a newly built 150-bed hospital to the Nigeria Police in Abuja.
- He donated N10 billion to Nigeria Security Support Fund from ASR Africa towards the provision of some security equipment, medical and other supplies, upgrade of health facilities, and other infrastructure for families of those on the frontlines.
Mike Adenuga
When you mention Mike Adenuga today, the mind of an average Nigerian quickly pictures the “billionaire owner of Globacom”. Michael Adeniyi Agbolade Ishola Adenuga is a billionaire and Nigeria’s third-richest man, according to Forbes. And he also owns Globacom, Nigeria’s indigenous telecom company. He is also one of the biggest philanthropists in Nigeria. Over the years, he has given away millions of dollars to educational and religious institutions across Nigeria, and millions more to humanitarian relief and the arts. But Adenuga, who is fiercely private about his affairs, reportedly prefers to be discreet about his givings, except on occasions when he is mandated to announce publicly.
Philanthropic acts
- Every year, the Mike Adenuga Foundation awards nearly $20.5 million in scholarships and aid to help students. Annually, they award undergraduate, master’s, and Ph.D. scholarships for female students offered in Africa, the USA, the UK, Canada, Australia, China, Japan, Indonesia, and India.
- In 2011, the Nigerian multi-billionaire donated N500 million to flood victims in Bayelsa State, Nigeria.
- He donated N1.5 billion towards fighting COVID-19.
- He donated $250,000 to Nigeria’s football team, the Super Eagles.
Folorunsho Alakija
Folorunsho Alakija is vice chair of Famfa Oil, a Nigerian oil exploration company with a stake in Agbami Oilfield, a prolific offshore asset. She is a dynamic Nigerian businesswoman and philanthropist. Due to her love and affection for the needy, Alakija 2008 launched the Rose of Sharon Foundation, with the vision of providing help and succor to widows and orphans in Nigeria as well as the rest of the world.
The foundation, among other things, gives a facelift to widows who are members, by providing them with funds at zero percent interest to start a business of their choice.
Philanthropic acts
- Alakija launched a N1bn fund to promote female entrepreneurship.
- Alakija donated a Skills Acquisition Center to Yaba College of Technology, a higher educational institution located in Lagos.
- In 2016, Alakija and her husband donated a $2.7 million building to Ajayi Crowther University, in Oyo, Nigeria.
- In April 2017 she donated $700,000 to the University of Osun and has started building a pediatric hospital for the same institution.
- Her Rose Of Sharon Foundation gives grants to destitute widows across Nigeria and financial independence & educational opportunity for widows and orphans through programs that assure ease of socio-economic integration.
Jim Ovia
Jim Ovia is the founder of Zenith Bank, one of the largest commercial banks in Nigeria. He is a great philanthropist who has helped humanity through his foundation, called Jim Ovia Foundation (JOF).
Philanthropic acts
- The Jim Ovia scholarship program has an elaborate plan to provide secondary-school and higher-learning graduates with funding that caters to their tuition and maintenance.
- Through the Jim Ovia ICT Entrepreneurs Program, budding entrepreneurs are trained to identify markets and potential in the African technology landscape for one year.
- In 2012, he donated $6.3 million to flood victims in Nigeria.
- He donated $2 million to African students.
The real thing about wealth, what will make you enjoy it and be happy that yes you are rich, is how many lives you can touch while you are alive. – Aliko Dangote