Nigeria’s manufacturing sector may not always grab headlines, but it quietly powers a huge chunk of the economy, creating jobs, stabilizing supply chains, and reducing dependence on imports where possible.
And behind many of the country’s most successful made-in-Nigeria products are powerful business families who took the bold step of building factories long before it became fashionable.
These families didn’t just enter manufacturing; they shaped it. From cables to cement, plastics to household goods, they’ve grown small workshops into billion-naira empires, navigated multiple economic cycles, and kept production alive despite harsh operating conditions. Their companies have become household names, their products everyday essentials, and their influence a defining force in Nigeria’s industrial history.
Today, we spotlight the families whose vision and business acumen continue to set the pace in the sector. Here are the Top 10 families behind the factories driving the nation’s industrial backbone.
Business: Honeywell Group
Founded in 1972 by Nigerian entrepreneur Oba Otudeko, Honeywell Group began as a food trading business before expanding into imports of dairy, steel, and stockfish for Nigeria’s growing domestic market.
The Group’s milestones trace Nigeria’s own economic journey: the relocation of its headquarters to Lagos in 1993; the 1997 construction of a 23,000-metric-tonne tank farm in Apapa; the 2009 listing of Honeywell Flour Mills on the Nigerian Stock Exchange; and the 2011 opening of the Radisson Blu Anchorage Hotel, the first of the global brand in West Africa.
Oba Otudeko, through Honeywell Group, was a major shareholder and former chairman of FBN Holdings (now First HoldCo), but he recently divested his significant stake in July 2025, selling 10.43 billion shares in a block deal worth over N323 billion.
Today, Obafemi Otudeko, son of the founder and current Managing Director, is driving the Group’s next chapter. With more than 25 years of investment leadership, he has overseen landmark transactions, including Airtel Nigeria’s multi-million-dollar divestment and the 2022 sale of Honeywell Flour Mills.
