Aliko Dangote added $4.6 billion to his fortune in the past year, cementing his place as Africa's richest person with an estimated net worth of $28.5 billion. The industrialist leads four Nigerians on Forbes' 2026 Africa Billionaires list, with three of them landing in the continent's top 10.
Abdulsamad Rabiu sits third in Africa with $11.2 billion, while Mike Adenuga ranks sixth with $6.5 billion. Femi Otedola rounds out Nigeria's representation at 22nd on the overall list with $1.3 billion. Forbes compiled the rankings using stock prices and currency exchange rates as of March 1, 2026. The continent's 23 billionaires hold a combined $126.7 billion, up 21 per cent from the previous year.
Dangote built his fortune through the Dangote Group, with major interests in manufacturing, particularly cement, sugar and consumer products. His wealth has drawn renewed attention around the Dangote Refinery, one of Africa's largest industrial projects. Forbes credited the increase to Dangote Cement, whose shares rose significantly during the period.
Rabiu, founder of BUA Group, recorded one of the biggest wealth increases on the list. His fortune rose 120 per cent, or $6.1 billion, during the year, linked largely to the performance of BUA Cement shares. His businesses span cement, food production and other diversified investments.
Adenuga, founder of telecommunications company Globacom, holds interests in the oil sector through businesses including Conoil. His fortune spans investments across telecoms, oil and other sectors. Otedola built his first fortune through commodities before expanding into energy investments, with involvement in the power sector and companies including Geregu Power. Forbes noted his fortune declined by about $200 million after he sold the majority of his stake in Geregu Power at a discount to the company's market price.
Nigeria ranks third among African countries with the highest number of billionaires on the list, behind South Africa with seven and Egypt with five. The 2026 list tracks African billionaires based on their estimated fortunes, calculated using stock prices and currency exchange rates as of March 1, 2026.
According to Pulse.ng.
