Dangote leads as 4 Nigerians secure spots on Forbes’ new billionaires Iist

Four Nigerian business tycoons have earned places on Forbes’ Real-Time Billionaires List, underscoring how rarefied wealth remains within the country.

Aliko Dangote tops the group with an estimated net worth of $24.4 billion, placing him 88th globally and far ahead of his peers.

The gap is striking: Abdulsamad Rabiu ($7.2 billion, #516), Mike Adenuga ($6.3 billion, #592), and Femi Otedola ($1.5 billion, #2424) trail significantly.

Dangote’s wealth is more than triple Rabiu’s, nearly four times Adenuga’s, and over 16 times Otedola’s, cementing his dominance among African billionaires.

Dangote first appeared on Forbes’ billionaires list in 2008, briefly dropped off, and returned in 2011, maintaining his title as Africa’s richest man for 14 consecutive years. His fortune, anchored in cement, sugar, and a massive petroleum refinery launched in 2023, has made him a global symbol of Nigerian industrial power.

While Dangote grabs headlines, Rabiu continues to grow his cement and sugar empire, Adenuga holds steady with telecom and oil interests, and Otedola has made a comeback to the ranking after years away, signaling renewed momentum in his energy and utilities businesses.

Together, these four represent Nigeria’s billionaire wealth clustered in just a few industries—manufacturing, telecommunications, oil, and power. The figures highlight both the opportunities and limits of wealth creation at the highest levels in the country.