Lookman succeeds compatriot Victor Osimhen, who last year became the first Nigerian winner since Nwankwo Kanu in 1999.
Osimhen, who led Napoli to win the Italian League title last season, beat Paris Saint-Germain's Morocco right-back, Achraf Hakimi and Liverpool's Egypt winger, Mohamed Salah, to win the top award.
Lookman succeeds compatriot Victor Osimhen, who last year became the first Nigerian winner since Nwankwo Kanu in 1999.
Osimhen, who led Napoli to win the Italian League title last season, beat Paris Saint-Germain's Morocco right-back, Achraf Hakimi and Liverpool's Egypt winger, Mohamed Salah, to win the top award.