Four Nigerian Tycoons Make Forbes 2025 Billionaires List

Nigeria has once again stamped its authority on the global business stage as four of its most prominent entrepreneurs: Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola featured on the Forbes 2025 Africa Billionaires List.

The latest rankings, released on March 29, 2025, underline Nigeria’s dominant role in shaping Africa’s economic landscape, with these moguls continuing to make significant impacts in industries ranging from cement and telecommunications to oil, power, and real estate.

Aliko Dangote: Africa’s Richest Man for 14 Consecutive Years

For the 14th year in a row, Aliko Dangote has retained his crown as Africa’s richest individual. His net worth soared to $23.9 billion in 2025, a sharp rise from $13.9 billion in 2024.

The surge in Dangote’s fortune is linked to the successful commencement of operations at the Dangote Refinery, located near Lagos, Nigeria. The refinery one of the largest in Africa has significantly boosted the valuation of his business empire.

Mike Adenuga: Telecoms and Oil Giant

Business magnate Mike Adenuga, owner of Globacom (Nigeria’s second-largest telecom operator) and key player in the oil and real estate sectors, was ranked 5th in Africa with an estimated net worth of $6.8 billion.

Adenuga’s diversified investments continue to reinforce his position as one of the continent’s most resilient billionaires.

Abdulsamad Rabiu: Cement and Sugar Powerhouse

Chairman of BUA Group, Abdulsamad Rabiu, followed closely with a net worth of $5.1 billion, placing him 6th in Africa. His vast business interests in cement, sugar, and infrastructure development continue to play a pivotal role in Nigeria’s industrial growth.

Femi Otedola: A Billionaire Comeback

After a period away from the Forbes list, Femi Otedola made a strong comeback in 2025, securing joint 16th place with a fortune of $1.5 billion.

Otedola’s resurgence is tied to the outstanding performance of Geregu Power Plc, where he holds majority shares. The company’s share price jumped by more than 40% in recent months, reflecting strong profitability and revenue growth.

According to Forbes, the 2025 billionaire rankings were based on stock prices, currency exchange rates, and business valuations as of March 7, 2025.

The list highlights not just personal fortunes but also the resilience and growth of African enterprises amid global economic challenges.

Nigeria remains a powerhouse of entrepreneurial success on the continent. These business leaders are not only shaping industries but also inspiring the next generation of African entrepreneurs through their innovation, resilience, and global competitiveness.