Nigeria’s Billionaires Surge Past South Africa with $43bn Fortune
Atume Terfa
Nigeria’s top business magnates have overtaken their South African counterparts, marking a historic shift in Africa’s billionaire landscape. According to Forbes’ World Billionaires data analysed by BusinessDay, the combined net worth of Nigeria’s four leading billionaires surged to $43.1 billion by the end of 2025, edging past South Africa’s top-tier wealth, which totals around $42 billion.
This leap reflects more than just numbers on a balance sheet — it signals Nigeria’s expanding economic clout. Strong corporate earnings, rising equity valuations, and strategic investments across manufacturing, energy, and telecommunications have all contributed to this surge, reinforcing investor confidence in the country’s long-term growth potential.
At the forefront is industrial giant Aliko Dangote, Africa’s richest man, whose fortune stems from decades of strategic investments in cement, sugar, and refining — most notably the Dangote Petroleum Refinery. Alongside him, Abdulsamad Rabiu of BUA Group, telecom and oil magnate Mike Adenuga, and energy investor Femi Otedola round out Nigeria’s billionaire powerhouse. Together, they form the backbone of Nigeria’s rising financial influence.
South Africa has long been home to Africa’s wealthiest, including figures like luxury magnate Johann Rupert. Nigeria’s ascendancy in total billionaire wealth reflects broader shifts in the continent’s economic balance, with local markets seeing increased capital inflows, business growth, and investor optimism.
Nigeria’s billionaire boom is more than a story of individual fortunes — it signals a diversification of Africa’s economic engines. Growth in manufacturing, telecommunications, and energy is positioning Nigeria as a major driver of continental investment. Analysts suggest that this trend will continue to attract both domestic and international capital, highlighting Nigeria’s expanding role as Africa’s economic powerhouse.
As 2026 unfolds, Nigeria’s billionaire class is not only setting records but also reshaping the narrative of wealth and opportunity across Africa.
