Nigeria’s billionaire club just got a major glow-up — and the world is watching. Aliko Dangote, Femi Otedola, Mike Adenuga, and Abdulsamad Rabiu have all landed top spots on the 2025 Forbes World’s Billionaires List, with their wealth reaching jaw-dropping new heights.
At the top of the money mountain? Aliko Dangote, who once again holds the crown as Africa’s richest man — for the 14th year straight. His net worth exploded from $13.9 billion in 2024 to $23.9 billion, thanks largely to Forbes finally counting the value of his long-awaited Dangote Refinery, now operational just outside Lagos.
“The big jump in his fortune is primarily due to Forbes adding the value of his refinery,” the magazine confirmed. With that, Dangote’s dominance continues — and then some.
Close behind him, Mike Adenuga, the quiet telecom tycoon behind Globacom, holds strong at fifth on the African list, boasting a tidy $6.8 billion.
Abdulsamad Rabiu, founder of BUA Group, sits in sixth place with $5.1 billion in the bank, thanks to his cement and sugar empire’s continued expansion.
But perhaps the biggest plot twist? Femi Otedola is officially back on the billionaire radar. The business mogul and chairman of FBN Holdings made a comeback, clocking in at $1.5 billion — enough to tie for 16th place. His power company, Geregu Power Plc, saw a major stock surge, pushing his net worth up over 30% in just one year.
“Shares of Geregu surged some 40% in the past year following a jump in revenue and profits,” Forbes reported, highlighting Otedola’s electric return.
Africa’s Billionaires Are Booming
This year marks a historic first: the combined net worth of African billionaires has crossed the $100 billion mark, reaching $105 billion — up from $82.4 billion last year.
South Africa leads the continent with seven billionaires on the list, while Nigeria and Egypt each claim four. Morocco follows with three, and Algeria, Tanzania, and Zimbabwe round out the list with one each.
