Nigerian business moguls Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have secured spots in Forbes’ 2025 list of Africa’s billionaires, with Dangote taking the lead among them.
Published on Saturday, the prestigious list highlights the financial success of Africa’s top billionaires, with the continent’s 22 wealthiest individuals collectively amassing a total net worth of $105 billion, up from $82.4 billion in 2024.
This surge is attributed to a significant rise in the fortunes of several key figures.
Aliko Dangote, the owner of the Dangote Petroleum Refinery, continues to dominate the African wealth scene, retaining his position as the richest person on the continent.
His net worth has surged from $13.9 billion in 2024 to $23.9 billion in 2025. Forbes attributes this remarkable increase to the growing valuation of his refinery, which has bolstered his financial standing.
In fifth place on the African list is Mike Adenuga, the chairman of Globacom, Nigeria’s telecommunications giant. Adenuga’s wealth is now pegged at $6.8 billion, securing his place among Africa’s top business leaders.
Abdulsamad Rabiu, the chairman of BUA Group, follows closely behind in sixth place with a net worth of $5.1 billion. His rise reflects the continued success and expansion of his conglomerate, which operates across diverse sectors including cement production and agriculture.
Rounding out the Nigerian names on the list is Femi Otedola, the chairman of First Bank of Nigeria Holdings Plc. Otedola shares the 16th position with a net worth of $1.5 billion, further cementing his position among Nigeria’s wealthiest individuals.
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“South Africa had the largest number of billionaires this year, with seven, followed by four from Nigeria and four from Egypt,” Forbes said.
“The list also includes three billionaires from Morocco, one from Algeria (Isaad Rebrab), one from Tanzania (Mohammed Dewiji) and one (Masiyiwa) from Zimbabwe.
“Our list tracks the wealth of African billionaires who reside in Africa or have their primary business there, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a U.K. citizen; and South African Nathan Kirsh, who operates out of London and has his business in the U.S. and U.K.
“Net worths were calculated using stock prices and currency exchange rates from the close of business on March 7, 2025.”
