Four Nigerian business leaders; Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu have been named among Africa’s richest people in the 2026 Forbes Africa Billionaires ranking.
Four Nigerian business leaders; Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu have been named among Africa’s richest people in the 2026 Forbes Africa Billionaires ranking.
Aliko Dangote kept his position as Africa’s richest man, with an estimated net worth of $28.5 billion. Over the past year, his wealth increased by about $4.6 billion, mainly due to the strong performance of Dangote Cement on the Nigerian Exchange.
Telecoms businessman Mike Adenuga also remained on the list. The founder of Globacom and chairman of Conoil Producing continues to be one of Nigeria’s most prominent entrepreneurs, with major investments in telecommunications, oil and gas, and banking.
Femi Otedola, the chairman of Geregu Power Plc, also made the ranking, although his fortune dropped slightly. Forbes reported that his wealth fell by around $200 million after he sold a large share in the power company at a price below its market value.
On the other hand, Abdulsamad Rabiu saw a significant increase in his wealth. The growth was largely driven by the strong performance of BUA Cement, whose shares rose by 135 percent over the past year, performing better than many other stocks in the Nigerian market.
Overall, the 23 billionaires listed across Africa now have a combined wealth of $126.7 billion. This represents a 21 percent increase from 2025, after they collectively added $20.3 billion to their fortunes.
The rise in wealth among Africa’s richest individuals was supported by strong stock market performance, record company profits, and more stable currencies in some African countries.
By country, South Africa has the highest number of billionaires on the list with seven, followed by Egypt with five, Nigeria with four, and Morocco with three.
However, the 2026 ranking did not include any female billionaires from Africa.
