Four Nigerian business leaders — Aliko Dangote, Mike Adenuga, Femi Otedola and Abdulsamad Rabiu — have been named among the continent’s richest individuals in the 2026 Africa billionaires ranking released by Forbes.
Gatekeepers News reports that Dangote retained his position as Africa’s richest man with an estimated net worth of $28.5 billion, adding about $4.6 billion to his fortune over the past year. The increase was largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.
Telecommunications magnate Adenuga also maintained his position among Africa’s billionaires. The founder of Globacom and chairman of Conoil Producing remains one of Nigeria’s most influential entrepreneurs, with investments spanning telecommunications, oil and gas, and banking.
Otedola, chairman of Geregu Power Plc, also featured on the list despite a slight decline in his wealth over the past year. According to Forbes, the billionaire investor lost about $200 million following the sale of a majority stake in the power generation company at a discount to its market price.
Rabiu’s wealth, however, increased significantly, largely driven by the performance of BUA Cement, whose shares surged 135 percent over the past year, outperforming the broader rally on the Nigerian stock market.
In total, the 23 billionaires listed across Africa now have a combined net worth of $126.7 billion, representing a 21 percent increase from 2025 after collectively adding $20.3 billion to their fortunes.
The growth in billionaire wealth across the continent was supported by strong equity market performance, record corporate profits, and improved currency stability in several African economies.
By country distribution, 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, no female billionaires from Africa appeared in the 2026 ranking.
