Nigeria’s population of dollar millionaires has grown for the first time since 2021, rising by 12.5 percent to 8,100 in June 2026, up from 7,200 a year earlier, according to fresh data from global wealth intelligence firm New World Wealth. 

The increase adds roughly 900 new dollar millionaires to the country within a single year, marking a notable reversal after a prolonged stretch of wealth losses tied largely to sharp devaluations of the naira, which had seen the country lose about 1,600 millionaires in 2024 and another 200 the year before.

According to Andrew Amoils, head of research at New World Wealth, the rebound is driven mainly by the strength of the naira against the United States dollar, along with solid growth in new businesses across the country, even though the currency’s overall performance over the past decade remains poor. The recovery also coincides with a strong run in Nigeria’s capital market, which has generated significant gains for investors since President Bola Tinubu took office in 2023.

Speaking recently at the State House in Abuja, the group managing director of the Nigerian Exchange Group, Temi Popoola, linked much of this wealth creation to economic reforms carried out under the current administration, estimating that between five hundred thousand and nine hundred thousand Nigerians have become millionaires as a result of gains recorded in the stock market since 2023.

The report further shows that Nigeria now has twenty two centi-millionaires, individuals worth more than one hundred million dollars, up from twenty a year earlier, while the country’s billionaire count remained unchanged at three. Nigeria’s wealth rebound comes as private wealth expands more broadly across Africa, with the continent now home to just over one hundred and twenty seven thousand dollar millionaires, including 374 centi-millionaires and 28 billionaires, according to the 2026 Africa Wealth Report.