Four Nigerians — Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdul Samad Rabiu — have been named among Africa’s richest individuals in the 2026 Africa Billionaires ranking released by Forbes.
Dangote Remains Africa’s Richest Man
Dangote retained his position as the wealthiest person in Africa with an estimated net worth of $28.5 billion.
According to Forbes, he added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.
Other Nigerian Billionaires On The List
Telecommunications mogul Adenuga also retained his place among the continent’s billionaires. He is the founder of Globacom and chairman of Conoil Producing, with business interests spanning telecoms, oil and gas, and banking.
Energy investor Otedola, chairman of Geregu Power Plc, also made the list despite a slight dip in his wealth. Forbes estimates that he lost about $200 million after selling a majority stake in the company at a price below its market value.
Meanwhile, Rabiu’s wealth increased significantly due to the strong performance of BUA Cement, whose shares surged 135% over the past year, outperforming the broader rally in the Nigerian stock market.
African Billionaires’ Wealth Grows
Forbes reported that the 23 billionaires on the continent now have a combined net worth of $126.7 billion, representing a 21% increase from 2025 after collectively adding $20.3 billion to their fortunes.
The rise in billionaire wealth across Africa was largely driven by strong stock market performance, record corporate profits, and improved currency stability in several economies.
Countries With The Most Billionaires
By country, South Africa leads with seven billionaires, followed by Egypt with five, Nigeria with four, and Morocco with three.
However, the 2026 ranking revealed that no female African billionaires appeared on the list this year.
