Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola were reconfirmed as Nigeria’s representatives on the Forbes 2025 Africa Billionaires list, which was released on Saturday.

The ranking underscores a historic milestone for the continent, with the collective net worth of Africa’s 22 billionaires leaping to $105 billion, up from $82.4 billion in 2024.

Aliko Dangote retained the top spot for the 14th consecutive year, his net worth soaring to $23.9 billion from $13.9 billion a year earlier.

Forbes attributed the dramatic increase to the valuation of his petroleum refinery, which was factored into the wealth calculation for the first time.

Mike Adenuga followed in fifth place on the continental list with $6.8 billion, while Abdulsamad Rabiu held the sixth position at $5.1 billion.

Femi Otedola, chairman of First HoldCo Plc (formerly FBN Holdings) and Geregu Power, appeared at $1.5 billion, marking the fourth Nigerian on the roster.

Forbes noted that South Africa led the list with seven billionaires, followed by Nigeria and Egypt with four each. The magazine emphasized that the net‑worth figures were calculated using stock prices and currency exchange rates as of 7 March 2025, and that the list only tracks billionaires whose primary businesses or residence are in Africa.

The surge in wealth was driven largely by strong performances in cement, telecommunications, energy and finance, despite ongoing macroeconomic challenges such as currency depreciation and political volatility across the continent.

The publication of the list sparked widespread media coverage, highlighting the growing economic influence of Nigerian entrepreneurs and prompting discussion about wealth distribution and investment in the nation.