Four Nigerian billionaires, Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga and Femi Otedola, have been listed among Africa’s richest individuals in 2026.
Forbes disclosed this in it latest African billionaires ranking released on Monday.
In its ranking, Forbes noted that the continent’s three-comma club has now surpassed $126 billion in combined wealth in 2026, up 21 per cent from 2025.
It said the billionaires’ net worths were calculated using stock prices and currency exchange rates from the close of business on 1 March, while the net worth changes were measured from Forbes’ 2025 Billionaires list, published in March 2025.
The List
Aliko Dangote
Aliko Dangote remains the richest of all, with an estimated net worth of $28.5 billion.
The Forbes report noted that Mr Dangote is $4.6 billion richer this year, as shares of his NGX-listed cement company surged nearly 69 per cent since last March.
“Dangote Cement doubled its profits in 2025 to a record one trillion Naira. The Nigerian native, who plans to take his oil refinery public later this year, recently announced his company had signed a $400 million deal with a Chinese machinery company to accelerate plans of doubling the refinery’s full capacity by 2029,” the report said.
Abdulsamad Rabiu
Another Nigerian cement manufacturer, Abdulsamad Rabiu, also attained third spot on the Forbes ranking in 2026, with his estimated net worth rising by 120 per cent, from $6.1 billion in 2025 to $11.2 billion in 2026.
The report noted that Mr Rabiu’s biggest asset, BUA Cement, rose by 135 per cent, outperforming the soaring Nigerian Stock Exchange (NGX), which is up by 81 per cent to record highs over the past year as listed companies reported record profits and the government forced Pension Fund Administrators to increase holdings in equity investments.
Mike Adenuga
In sixth place is telecommunication giant Mike Adenuga, with a net worth of $6.5 billion, with the biggest of his diversified assets coming from major Globacom and oil businesses.
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Femi Otedola
According to the Forbes report, Femi Otedola, together with Moroccan Anas Sefrioui & family, attained 22nd position with a net worth of $1.3 billion. Mr Otedola is now the majority shareholder in the First Bank of Nigeria Holdings Plc.
“Of the 23 members of this year’s Africa billionaires list, only four are poorer than they were a year ago.
“One of them is Morocco’s Anas Sefrioui. The real estate mogul lost $300 million in wealth as shares of his company, Group Addoha, fell by more than 30 per cent.
“He now ties Nigeria’s Femi Otedola, who lost $200 million in wealth after selling the majority of his stake in Geregu Power at a discount to the public company’s market price, as the “poorest” billionaire in Africa, by Forbes’ estimates. Each is worth $1.3 billion,” the report said.
