Dangote, Rabiu, Otedola, Adenuga Listed in Forbes 2025 Billionaires Ranking
Nigeria’s Billionaires Shine in Forbes 2025 List
Aliko Dangote, Femi Otedola, Mike Adenuga, and Abdulsamad Rabiu have been named among the world’s wealthiest individuals in Forbes’ 2025 billionaires list, released on March 29.
They are the only Nigerians to make the prestigious ranking, with Dangote leading as Africa’s richest person for the 14th consecutive year.
Dangote, whose wealth surged from $13.9 billion in 2024 to $23.9 billion in 2025, saw his fortune rise largely due to the valuation of his newly operational Dangote Refinery.
Forbes stated, “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.”
Telecom mogul Mike Adenuga, chairman of Globacom, ranked fifth among Africa’s richest, with a net worth of $6.8 billion, while BUA Group’s Abdulsamad Rabiu followed in sixth place at $5.1 billion.
Meanwhile, Femi Otedola, chairman of First Bank of Nigeria (FBN) Holdings Plc, secured the 16th spot with an estimated $1.5 billion.
Forbes highlighted Otedola’s rising fortune, crediting a 40% surge in shares of his power generation company, Geregu Power Plc, due to increased revenue and profits.
The report also noted that South Africa leads Africa with the highest number of billionaires (seven), followed by Nigeria and Egypt with four each, Morocco with three, and Algeria, Tanzania, and Zimbabwe with one billionaire each.
Forbes described 2025 as a historic year for Africa’s ultra-wealthy, with the combined net worth of the continent’s billionaires surpassing $100 billion for the first time.
“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 stated.
Dangote, Rabiu, Otedola, Adenuga Listed in Forbes 2025 Billionaires Ranking
