Nigerian businessman Aliko Dangote has once again been named the richest person in Africa, according to Forbes’ 2025 ranking. With an estimated net worth of $23 billion, Dangote continues to hold the number one position, a title he has maintained for many years. His wealth comes mainly from his company, Dangote Group, which is involved in cement, sugar, and oil refining.
One of the biggest reasons for Dangote’s growing fortune is the success of the Dangote Petroleum Refinery. The refinery, which can process 650,000 barrels of crude oil daily, is expected to reduce Nigeria’s need for imported fuel and strengthen the country’s economy. This major project has further increased Dangote’s wealth and influence.
Apart from Dangote, three other Nigerian billionaires: Femi Otedola, Mike Adenuga, and Abdulsamad Rabiu also made it to Forbes’ list of Africa’s richest people.
Femi Otedola, the chairman of Geregu Power Plc, has gained recognition for his investments in Nigeria’s electricity industry. His company plays a key role in supplying power to homes and businesses, making him one of the top business figures in the country.
Mike Adenuga, who owns Globacom, remains one of Nigeria’s biggest players in the telecom and oil industries. His mobile network company, Glo, is one of the largest in Nigeria, while his oil company, Conoil, continues to operate successfully. Despite changes in the economy, Adenuga has managed to keep his fortune steady.
Abdulsamad Rabiu, the founder of BUA Group, also secured a spot on the Forbes list. His company, which focuses on cement, sugar, and other industries, has expanded rapidly in recent years. With new factories and increased production, Rabiu’s business has continued to grow, boosting his wealth.
The ranking of these four Nigerians on the Forbes list shows that Nigeria remains a major business hub in Africa. Their success highlights the importance of industries like energy, telecommunications, and manufacturing in the country’s economy.
Besides Nigeria, other African billionaires from countries like South Africa, Egypt, and Morocco were also featured on the Forbes list. These business leaders have helped their countries grow by investing in different industries.
Even though Nigeria faces economic challenges such as inflation and a weak currency, these billionaires have found ways to keep their businesses profitable. Their companies continue to create jobs and contribute to the country’s economic development.
As the richest person in Africa, Dangote is a symbol of success in the business world. His ability to expand his businesses and remain financially stable has made him a role model for many entrepreneurs. With the Dangote Refinery now fully operational, his wealth is expected to grow even more in the coming years.