With an estimated population of over 200 million people, vast natural resources and hard-working citizens, Nigeria is blessed with successful set of billionaires, ultra-high net worth individuals and high net worth individuals. These individuals made their wealth in the course of their business endeavours, careers and investment opportunities; most of which could be classified as personal wealth.

The HNWis, UHNWIs and Billionaires in Nigeria cut across genders, ethnicities, professions and industries. These personalities are Business Owners, Industrialists, Influential Personalities, C-Suite Executives, Royalties, Celebrities, Oil Magnates and International investors.

Most CEOs, Managing Director, Executive Directors, Board Chairmen, General Managers, Independent Directors and Non-Executive Directors in major sectors such as the Financial Sector, Oil and Gas Sector, Agriculture and Mining Sector, Telecommunication Sector, Shipping and Logistics Sector, Conglomerates and Multinationals constitute the largest chunk of the High Net-Worth Individuals (HNWIs) in Nigeria. Others personalities are: Venture Capitalists, Internet Entrepreneurs, Tech Founders, Media Proprietors, A-List Celebrities, Top Musicians, Influencers, Politicians, Contractors, Professional Footballers and Athletes in Europe, Senior Advocate of Nigeria, Seasoned Chartered Accountants, Medical Practitioners, Engineers, Partners, Renowned Bank Executives, etc. Our independent research (OnYourPalm) shows that the HNWIs (in Dollars) in Nigeria are less than 50,000 people.

The wealthy group of people that constitute the Ultra High Net-Worth Individuals (UHNWIs) are mostly: Chief Executive Officers (CEOs), Board Chairmen, Directors, Oil Magnates, Entrepreneurs, Founders, Industrialist, Politicians, Contractors, Tech Founders, Venture Capitalists, etc. From our records (OnYourPalm), the UHNWIs in Nigeria are not more than 750.  

The Billionaires in Nigeria are usually into diverse businesses but most of them have Oil Exploration License, Majority Shareholding in Commercial Banks, Chairmen of Group of Companies, Seasoned Industrialists, Founders of Conglomerates, Politicians and Business Tycoons. Nigeria has less than 100 Billionaires (in Dollars).

OnYourPalm has the database and corporate contact details of the HNWIs, UHNWIs and Billionaires in Nigeria.

By working from home as Chief Executive Officer (CEO) while your children are around, it is best to deliberately let them know that you do more than talking on phone or work at the computer through the way you set strategic goals, lead a meeting or run business operations from home. You can also exhibit to them what it means to set targets, set boundaries, handle difficult situations and communicate effectively.

Forming a good work ethics at childhood has been proven to produce success as an adult. Do not wait till the future to start teaching your children how to build strong work ethics; there are plenty of skills and attributes you can cultivate today which can contribute to their future success.

Some of the attributes you can impart on your children as CEO or Entrepreneur of a company are:

1. Entrepreneurial Spirit: There is no better person to teach kids or children about entrepreneurship than an entrepreneurial or CEO parent. As often as possible, the children should be nurtured to thirst for knowledge by finding activities that offer a sense of discovery, either in a structured or unstructured environment. The children should be allowed to delve into subjects or topics that can encourage their curiosity. As CEO or entrepreneur, the children should be allowed to attend entrepreneurial events (when on holidays), attend mentorship and internship programs or introduced to people or business development experts that can create business out of their passion.   

2. Encourage Team Spirit: Let your children know that you work in a team and as a team player the corporate goal comes before emotions or sentiments in a corporate setting. Children should be made to realize that when you work as a team you achieve more.

3. Decision Making Abilities: Children should learn how to make good decisions as early in life as possible because children become overwhelmed by too many choices. As a CEO working from home whilst the children are around, encourage them to narrow down the options to two or three, thereafter a final decision can be made. Teach your children to weigh the pros and cons of each option in order to make the most informed decision possible. This will help them to make correct decisions in everyday life.

4. Delegation: Let the kids know that as CEO, your office requires you to delegate roles to members of your team as you cannot perform all the roles in the company. To effectively delegate roles or functions, the right person must be assigned to task that he or she can best perform. The children must be made aware that there are consequences or reward for staff base on their performances on their job.

5. Teach Project Planning Skills: Let your children know that every project or task have lifecycle, timeline and personnel to executive the project. Talk about the need for brainstorming section, documentation, project supervision and meeting deadlines.

According to Capgemini, High-Net-Worth Individuals (HNWIs) are defined as those having investable assets of $1 million (USD) or more in highly liquid assets, excluding primary residence, collectibles, consumables, and consumer durables. The highly liquid assets are cash and cash equivalents. The cash equivalents are Banker’s Acceptance, Commercial Papers, Treasury Bills and other investment that mature within three months.

With a liquid net worth of between $5 million to $30 million, such people are regarded as Very High Net Worth Individuals (VHNWIs).

The Ultra High Net Worth Individuals has liquid assets of $30 million and above. There are over 300,000 UHNWIs in the world

A billionaire is a person with a net wealth of a billion dollars. Billionaires make up a small and very elite club of powerful men and women in the world, who control enormous sums of money and its accompanying power and influence. The numbers of billionaires globally are over 2,000.

With the volatility of the Nigeria Naira compared with Dollar, to be regarded as a High Net Worth Individuals (HNWIs) in Nigeria by the year end of 2020, your investable or liquid net worth in Naira must be at least Five Hundred Million Naira (N500 million); at the rate of N500 to $1.  The Ultra High Net Worth Individuals (UHNWIs) would have a liquid net worth of over Fifteen Billion Naira (N15 billion) and for someone to be referred to as a Dollar Billionaire in Nigeria, his or her worth must be at least Five Hundred Billion Naira (N500 Billion).