Four prominent Nigerian business leaders Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga, and Femi Otedola have once again been recognized among Africa's wealthiest individuals on the latest Forbes Billionaires List for 2026. The ranking, released on Monday, highlights the significant financial standing of the continent's key figures on the global stage.

According to Forbes, the net worths of these billionaires were calculated using stock prices and currency exchange rates as of the close of business on 1 March. The changes in their net worths were measured against Forbes' 2025 Billionaires List, which was published in March 2025. The report indicates that the collective wealth of Africa's billionaires has now grown to over $126 billion in 2026, marking a substantial 21 per cent increase from the previous year.

Aliko Dangote, the industrialist and President of Dangote Group, continues to hold the top position as Africa's richest person. His estimated net worth stands at a formidable $28.5 billion. Forbes highlighted Mr. Dangote's increased wealth, noting a $4.6 billion gain since March 2025. This growth is largely attributed to a nearly 69 per cent surge in the shares of his Nigerian Stock Exchange (NGX)-listed cement company over the past year. Notably, Dangote also recently announced a $400 million deal with a Chinese machinery company to accelerate plans to double the capacity of his refinery by 2029.

Cement magnate Abdulsamad Rabiu has secured the third spot on the Forbes ranking with an impressive estimated net worth of $11.2 billion in 2026. This represents a remarkable 120 per cent increase from his $6.1 billion net worth in 2025. Mr. Rabiu's primary asset, BUA Cement, has seen its value soar by 135 per cent, significantly outperforming the Nigerian Stock Exchange (NGX), which itself has reached record highs with an 81 per cent increase over the past year. This strong performance is partly due to listed companies reporting record profits and the government's directive for Pension Fund Administrators to increase their equity investments.

Telecommunications and oil magnate Mike Adenuga ranks sixth on the list, with a net worth of $6.5 billion. His diversified business interests, primarily through Globacom and significant oil ventures, contribute to his substantial wealth.

Femi Otedola, a prominent Nigerian investor, shares the 22nd position with Morocco's Anas Sefrioui & family, each having a net worth of $1.3 billion. Mr. Otedola's recent strategic move has seen him become the majority shareholder in First Bank of Nigeria Holdings Plc, a significant development in the Nigerian financial sector.

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