Family wealth in Nigeria remains concentrated in businesses and real estate – Report
Nigerian family wealth is largely concentrated in operating businesses and real estate, reflecting the entrepreneurial foundations of wealth creation across the country.
Nigerian family wealth is largely concentrated in operating businesses and real estate, reflecting the entrepreneurial foundations of wealth creation across the country.
This is according to findings from the Meristem Family Wealth Survey 2026. provides insight into how wealthy Nigerian families build, hold, and manage assets.
The report shows that enterprise ownership and property investments remain the dominant stores of family wealth despite growing interest in alternative investment classes.
According to the survey, operating businesses were identified as the primary source of wealth creation by 60% of respondents. In addition, operating businesses and real estate ranked among the top two asset holdings for 80% of surveyed families, underscoring the importance of entrepreneurship and property ownership in Nigeria’s private wealth landscape.
This indicates that many affluent families continue to favour tangible and directly controlled assets as vehicles for wealth preservation and growth.
The report notes that the composition of family wealth matters because different assets generate value in different ways. Operating businesses require active management and strategic oversight, while real estate holdings derive value from rental income, capital appreciation, and long-term development opportunities.
As Nigeria’s private wealth base continues to expand, the survey suggests that businesses and real estate remain at the centre of how affluent families create, store, and grow wealth, reinforcing their position as the backbone of family wealth in Africa’s largest economy.
The findings also mirror broader economic trends within Nigeria. Data from the National Bureau of Statistics showed that the country’s economy grew by 4.07% year-on-year in the fourth quarter of 2025, with the non-oil sector accounting for 97.13% of real GDP.
While GDP data does not reveal how much wealth families control within these sectors, it highlights the industries that continue to generate economic activity and create opportunities for private wealth accumulation.
Previously, Nairametrics reported that Jim Ovia, founder and largest individual shareholder of Zenith Bank Plc, disclosed plans to focus fully on real estate development following his exit as chairman of the bank, citing stronger profitability prospects in the property sector than in banking.
The 74-year-old billionaire businessman said he was expanding his investments through Quantum Luxury Properties Ltd., with a focus on high-end residential developments in Lagos.
Among the projects are the 26-storey Metropolitan Towers, where units start from $1.85 million, and the 44-unit Quantum Luxury Towers, with apartments priced from $2.8 million.
