- The net worth of Nigeria's richest men has increased as they move up in the world billionaire rankings
- Aliko Dangote leads the table with the highest net worth, followed by Adenuga, Rabiu, and Otedola
- The devaluation of the naira has affected their wealth in recent months, but they continue to be among the world's richest
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The combined net worth of Nigeria's four richest men on the Forbes Billionaire List is now $37.1 billion as of Thursday, March 13, 2025.
This represents a 32.9% increase from the $24.9 billion combined net worth recorded on February 12, 2025.
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The four billionaires are Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola.
Aliko Dangote ( $23.8 billion)
Aliko Dangote continues to lead as the richest man in Nigeria and Africa.
According to Forbes, Dangote's net worth is now $23.8 billion, marking a significant increase from $11.7 billion last month.
This surge in wealth propelled Dangote from the 209th richest person in the world to 83rd place, placing him among the top 100 billionaires globally.
Dangote net worth which is already very admirable, increased significantly as its $19bn refinery located in Lekki, Lagos begins full operation.
Other assets attached to Africa's richest man include Dangote Cement, the continent's largest cement producer. Dangote's fertilizer plant.
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Other Dangote's assets include Dangote Sugar, Nascon Allied Industries and United Bank for Africa.
Mike Adenuga ($6.8bn)
Adenuga is the second richest man in Nigeria net worth of $6.8 billion has been unchanged since last month. However, his world ranking changed from 476th to 487th in March.
Adenuga built his fortune in telecommunications and oil production.
His mobile phone network, Globacom, is the second-largest operator in Nigeria, with more than 60 million subscribers.
He has 74% of the publicly traded gasoline firm Conoil with 6 oil blocks in the Niger Delta and just under 6% of the publicly traded Nigerian bank Sterling Financial Holding.
Abdulsamad Rabiu ($5.0bn)
Abdulsamad Rabiu, Nigeria's third-richest man, recorded a slight increase in his net worth from $4.7 billion to $5 billion.
He is currently the 673rd richest person in the world, moving up from 720th place in February 2025.
Rabiu's wealth primarily comes from BUA Group, a Nigerian conglomerate with interests in cement production, sugar refining, and real estate.
Femi Otedola ($1.5 billion)
Femi Otedola, chairman of First Bank and a serial investor, experienced a decline in his net worth over the past month.
Otedola, who had a net worth of $1.7 billion in February, has lost $300 million in the last 30 days, bringing his net worth down to $1.5 billion.
Femi Otedola, who was ranked 1,981st in February, has now dropped to 2,172nd on the global billionaire ranking.
Billionaire Adebayo Ogunlesi’s wealth grows
Legit.ng previously reported that a week after being invited to join the OpenAI board of directors, Nigerian-American billionaire Adebayo Ogunlesi's net worth jumped to $2.3 billion from $1.7 billion.
The achievement secures Ogulesi’s spot among billionaires and boosts Africa’s growing list of high-net-worth persons.
