Nigeria’s wealthiest businessmen, all of whom live in Lagos have once again made their mark on the Forbes Africa’s Billionaires List for 2025.
Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have retained their positions among the continent’s richest individuals.
The Richest of Them All: Aliko Dangote
For the 14th consecutive year, Aliko Dangote has held the title of Africa’s richest man, with an estimated net worth of $23.9 billion.
This significant increase from $13.9 billion in 2024 can be attributed to the inclusion of his refinery’s valuation in his net worth calculation.
The Rest of Nigeria’s Billionaire Elite
Mike Adenuga, founder of Globacom, ranks fifth with a net worth of $6.8 billion. Abdulsamad Rabiu, chairman of BUA Group, follows closely with $5.1 billion. Femi Otedola, chairman of Geregu Power Plc, ranks 16th with a net worth of $1.5 billion, reflecting a 30% increase in the last year.
Africa’s Billionaire Collective
The 2025 Forbes report highlights that Africa’s 22 billionaires have collectively amassed a record $105 billion, surpassing last year’s $82.4 billion.
South Africa has the most billionaires (7), followed by Nigeria and Egypt (4 each).
These Nigerian billionaires continue to make significant contributions to the country’s economy, and their presence on the Forbes Africa’s Billionaires List is a testament to their business acumen and entrepreneurial spirit.