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Meet 4 Nigerian billionaires worth more than two African countries’ GDP – Forbes

Feature Image -Meet 4 Nigerian billionaires worth $27.8bn combined – Forbes (1)

At the forefront of Nigeria’s economic transformation are four prominent billionaires, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola, whose net worth is a staggering $27.8 billion, an amount more than $25.99 billion the GDPs of Niger and Rwanda combined.

While Niger, a country with a population of over 25 million people, has $14.92 billion as its GDP, Rwanda, an East African country holds a record of $11.07 billion as what drives its economy.


According to Forbes Real-Time Billionaires List, Here are 4 Nigerian billionaires on the Forbes list as of February 12

Aliko Dangote

Aliko Dangote, often referred to as the “Cement King” of Africa, is the richest man in Nigeria. With a net worth of $15.0 billion, Dangote’s wealth is primarily derived from his investments in the cement and sugar industries.

At 66, he continues to be a driving force behind Nigeria’s economic growth, with his Dangote Group playing a crucial role in the country’s infrastructure development.

Mike Adenuga

Mike Adenuga, ranked second on the list, has accumulated a substantial net worth of $6.2 billion. At 70, Adenuga has made significant contributions to Nigeria’s telecommunications and oil sectors.

Through his company Globacom, he has revolutionized the telecom industry, providing affordable and accessible communication services to millions of Nigerians. His involvement in the oil sector has further solidified his status as a key player in the country’s economic landscape.

Abdulsamad Rabiu

Abdulsamad Rabiu, at 63, is the founder and chairman of BUA Group, a conglomerate with interests in cement, sugar, and infrastructure.

With a net worth of $5.4 billion, Rabiu’s business acumen has been instrumental in the growth of Nigeria’s cement industry. His commitment to sustainability and community development sets him apart, contributing not only to economic progress but also to social welfare.

Femi Otedola

Femi Otedola, with a net worth of $1.2 billion, has carved a niche for himself in the energy and utilities sector. At 61, he is the founder of Forte Oil, a leading player in the Nigerian downstream petroleum industry.

Otedola has diversified his interests into power generation and distribution, making significant strides in providing energy solutions for the nation. His recent successes reflect a remarkable 5.14% increase in his net worth, showcasing his resilience and adaptability.

Their fortunes have not only shaped the business landscape but also played a pivotal role in the country’s development.