The combined net worth of Nigeriaâs four richest persons is reportedly at $23.8 billion, down from $24.9 billion at the beginning of 2024.
This is according to data from the Forbes Real-Time Billionaires List.
These billionaires play key roles in essential sectors of Nigeriaâs economy, maintaining significant positions on the global wealth list.
The Nigeriansâ financial worth shows trends in Nigeriaâs economy, which shape currency fluctuations, policy changes, and market forces.
According to experts, the oil industry is expected to grow as the Dangote Refinery is predicted to impact Nigeriaâs energy industry and Aliko Dangoteâs position on the global wealth index.
According to reports, these billionaires leveraged opportunities whilst navigating economic challenges, showing their influence on Nigeriaâs financial trajectory.
Their wealth shows the movement in strategic decision-making and economic development in the country.
Aliko Dangote: 11.1 billion
Dangote maintains his position as Nigeria and Africaâs wealthiest man, with his fortunes coming primarily from cement production and sales under the Dangote conglomerate.
He is the CEO of the Dangote Group, which owns several businesses, including a sugar refinery, a fertiliser refinery, and the mega Dangote Refinery.
His wealth is projected to grow, with the refinery beginning full production in September 2024.
Mike Adenuga: $6.7 billion
He is ranked as Nigeriaâs second-wealthiest individual, with investments in telecommunications and oil.
Globacom, one of Nigeriaâs four biggest telecom companies, is a key player in the telco ecosystem across Africa. Adenugaâs oil business also contributes to his net worth.
Abdulsamad Rabiu: $4.5 billion
Known as the Dangoteâs primary challenger in the cement industry, Rabiu is Nigeriaâs third-richest individual.
He is the chairman of the BUA Group, a conglomerate producing cement, sugar and other household products.
His investments have made the BUA Group a formidable competitor in Nigeria’s industrial sector.
Femi Otedola: $1.5 billion
