The 2026 Forbes Africa Billionaires ranking has once again highlighted the immense wealth of Nigeria’s top industrialists, with Aliko Dangote, Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu securing their spots among the continent’s elite.
Aliko Dangote has “retained his position as Africa’s richest man,” boasting an estimated net worth of $28.5 billion.
His fortune grew by approximately $4.6 billion over the last year, an increase “largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.”
Telecommunications giant Mike Adenuga also “retained his place among Africa’s billionaires,” maintaining his status as one of the country’s most influential figures through his control of Globacom and Conoil Producing.
Meanwhile, Abdulsamad Rabiu saw a significant boost in his wealth, which was “largely driven by the performance of BUA Cement, whose shares rose 135% over the past year, outperforming the broader rally on the Nigerian stock market.”
Femi Otedola, the chairman of Geregu Power Plc, remained on the list despite a minor reduction in his total assets.
Forbes reports that he “lost about $200 million following the sale of a majority stake in the power generation company at a discount to its market price.”
Overall, the 23 billionaires across Africa now hold a combined value of $126.7 billion, a 21% rise from 2025.
This collective growth was fueled by “strong equity market performance, record corporate profits, and improving currency stability in several African economies.”
South Africa leads the continent with seven billionaires, followed by Egypt with five and Nigeria with four.
Notably, the 2026 ranking indicates that “no female billionaires from Africa appeared” on the list this year.
