Dangote, Rabiu, Adenuga, Otedola make Forbes African billionaire list

Four Nigerian billionaires, Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga and Femi Otedola, have been listed among Africa’s richest individuals in 2026.

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This is according to the latest African billionaires ranking released on Monday by Forbes, which highlights the position of the continent’s wealthiest individuals in the global list.

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.

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.

Forbes list

Nigerian industrialist and President of Dangote Group, Aliko Dangote, remains the richest of all, with an estimated net worth of $28.5 billion.

The Forbes report noted that Mr Dangote, who recently announced his company’s $400 million deal with a Chinese machinery company to accelerate plans to double the refinery’s full capacity by 2029, is $4.6 billion richer this year, as shares of his NGX-listed cement company surged nearly 69 per cent since last March.

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.

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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.

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.

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.