Nigeria dominates Forbes’ 2026 Africa Billionaires ranking, with Aliko Dangote once again crowned the continent’s wealthiest man, boasting a net worth of $28.5 billion—a $4.6 billion jump in just one year thanks to a stellar performance by Dangote Cement.
Joining him on the list are fellow Nigerian moguls Mike Adenuga, Femi Otedola, and Abdulsamad Rabiu, cementing the country’s reputation as a hub for African wealth. Adenuga, founder of Globacom and chairman of Conoil Producing, maintains his billionaire status through diversified ventures in telecoms, oil, gas, and banking.
Otedola, former chairman of Geregu Power Plc, saw a modest decline in his fortune, losing around $200 million after selling a majority stake in his power company at a discount. In contrast, Rabiu’s wealth soared, fueled by a 135 per cent rise in BUA Cement shares, outperforming Nigeria’s stock market.
Across Africa, the 23 billionaires on the 2026 list now hold a combined $126.7 billion, up 21% from 2025, with total gains of $20.3 billion. Growth was driven by strong stock markets, record corporate profits, and improving currency stability in key economies.
By country, South Africa leads with seven billionaires, followed by Egypt (5), Nigeria (4), and Morocco (3). The ranking once again revealed the continent’s gender gap, with no women making the 2026 list.
The 2026 Forbes Africa Billionaires list reinforces Nigeria’s place at the forefront of African wealth, highlighting the impact of cement, telecoms, energy, and banking on the continent’s richest fortunes.
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