Dangote, who owns the Dangote Refinery, tops the list with a net worth of $23.9 billion, up from $13.9 billion in 2024.
Aliko Dangote, Femi Otedola, Mike Adenuga, and Abdulsamad Rabiu have been named in the 2025 Forbes’ Africa billionaires list.
Forbes Magazine released the list on Saturday. The quartet are the only Nigerians who made the lineup.
Dangote, who owns the Dangote Refinery, tops the list with a net worth of $23.9 billion, up from $13.9 billion in 2024.
“Aliko Dangote of Nigeria tops the list for the 14th year in a row with an estimated net worth of $23.9 billion, up from $13.9 billion a year ago,” the magazine wrote. “The big jump in his fortune is primarily due to Forbes adding the value of his refinery, which opened last year on the outskirts of Lagos after long delays.”
According to Forbes, Adenuga, the chairman of Globacom, comes in fifth position, having a net worth of $6.8 billion.
Rabiu of BUA Group was rated sixth on the continent with an estimated worth of $5.1 billion.
The chairman of First Bank of Nigeria (FBN) Holdings Plc, Otedola occupies the joint 16th position with a $1.5 billion net worth.
“Another billionaire whose fortune grew more than 30%: Femi Otedola of Nigeria (No. 18, $1.5 billion), chairman of listed power generation firm Geregu Power Plc,” Forbes wrote about Otedola. “Shares of Geregu surged some 40% in the past year following a jump in revenue and profits. Two African billionaires who made the list in the past and then fell off are back on again.”
According to Forbes, South Africa had the largest number of billionaires on the list with seven persons. This is followed by Nigeria and Egypt with four each.
“The list also includes three billionaires from Morocco, one from Algeria (Isaad Rebrab), one from Tanzania (Mohammed Dewiji), and one (Masiyiwa) from Zimbabwe,” it said, adding that it “was a banner year for Africa’s billionaires, whose cumulative wealth surpassed $100 billion for the first time ever”.
“Africa’s 22 billionaires saw their fortunes rise to a total of $105 billion, up from $82.4 billion and 20 billionaires last year. It’s no small feat to generate this level of wealth on the continent, where political uncertainty, currency crises, and challenging consumer markets are routine,” the magazine wrote.
SUBSCRIBE TO OUR NEWSLETTER NOW
Support MATAZ ARISING’ journalism of integrity and credibility.
Good journalism ensure the possibility of a good society, an accountable democracy, and a transparent government.
We ask you to consider making a modest support to this noble endeavour.
TEXT AD: To advertise here – Email ad@matazarising.com
LATEST POSTS
-
Two surveillance aircraft arrive in Ibadan to enhance statewide security
MaTaZ ArIsInGDallas, Texas The two surveillance aircraft acquired by the Oyo State Government to strengthen intelligence gathering and aerial security operations have arrived in Ibadan. The Commissioner for Information, Dotun Oyelade, announced the development in a statement on Tuesday, saying the arrival of the aircraft fulfilled the government’s earlier assurance that they would be delivered before the…
-
Tinubu Fires Back At Critics, Says Economy Rescued, Terrorists Will Be Defeated As Catholic Bishops Push For Credible 2027 Polls
MaTaZ ArIsInGDallas, Texas President Bola Tinubu, on Tuesday, strongly defended his administration’s handling of Nigeria’s economy and security, declaring that the country has been rescued from the brink of bankruptcy while assuring Nigerians that terrorism, banditry and kidnapping will ultimately be defeated. Nigeria oil market The President also dismissed concerns over the integrity of the…
-
El-Rufai’s Doctor Confesses to Authoring Medical Report Disowned by Hospital
MaTaZ ArIsInGDallas, Texas The medical doctor at the centre of the controversy surrounding a medical report submitted in support of former Kaduna State Governor Nasir El-Rufai’s bail application has admitted preparing the document but denied taking part in any plan to forge or falsify records. Dr. Bello Abubakar, a Chief Consultant Clinical and Radiation Oncologist at the…
