Forbes has released the list of richest people in Africa as of January 2025 and by extension no Igbo person made the list of the top 10 African billionaires so far in 2025.
In 2025, Forbes highlights figures like Aliko Dangote and Johann Rupert not only for their wealth but also for driving Africa’s progress, particularly in technology.
Recall that in August 2024, South African Johann Rupert overtook Dangote as Africa’s richest person alive. However, as of January 2025, Dangote has reclaimed his position as the richest African.
This year, South Africa’s Koos Bekker joins the top ten with a net worth of $2.9 billion, replacing Issad Rebrab & Family, whose wealth declined from $4.6 billion to $2.5 billion.
Mike Adenuga has risen from tenth to sixth place, with his net worth growing to $6.8 billion. Another Nigerian on the top 10 list of the richest people in Africa as of January 2025 is Abdul Samad Rabiu with a net worth of $4.9b.
Aliko Dangote
Aliko Dangote, Nigeria’s wealthiest man, has a net worth of $11.5 billion as of 2025. He maintains his position as Africa’s richest person, primarily due to his conglomerate, Dangote Group, which dominates industries such as cement, sugar, and oil refining. Dangote is in the number 198th position according to global ranking.
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Sources of Wealth
- Dangote Cement – Africa’s largest cement producer, operating in multiple countries.
- Dangote Refinery – A $19 billion oil refinery, expected to reduce Nigeria’s fuel imports.
- Dangote Sugar – A major player in Africa’s sugar industry.
- Dangote Salt & Flour Mills – Leading food production in Nigeria.
- Agriculture Investments – Rice, tomato processing, and fertilizer production.
Mike Adenuga
As of January 2025, Nigerian billionaire Mike Adenuga has an estimated net worth of $6.8 billion, ranking him as the sixth richest person in Africa.
Business Ventures:
- Globacom: Founded by Adenuga, Globacom is Nigeria’s second-largest telecommunications operator, with a strong presence in Ghana and Benin.
- Conoil Producing: A key player in Nigeria’s oil and gas sector, Conoil was among the first indigenous companies to secure an oil drilling license.
- Real Estate & Investments: Adenuga owns extensive real estate holdings in Nigeria, Dubai, London, and the U.S., further boosting his fortune.
His influence in telecoms and oil has cemented his status as one of Africa’s wealthiest and most powerful business figures.
Abdulsamad Rabiu
Abdulsamad Rabiu (Nigeria) – Net worth: $4.9 billion (2025)
Business Ventures:
- BUA Group: A leading Nigerian conglomerate with interests in cement, sugar refining, and real estate.
- BUA Cement: One of Nigeria’s largest cement producers, formed from the merger of Obu Cement and CCNN.
- BUA Foods: A key player in sugar, flour, and edible oil production.
Another Nigerian on the billionaire list is Femi Otedola from Epe in Lagos State, Nigeria. As of January 2025, Nigerian businessman Femi Otedola has an estimated net worth of $1.7 billion, according to Forbes.
Business Ventures:
- Geregu Power Plc: Otedola is the chairman and majority shareholder of Geregu Power, a leading power generation company in Nigeria. He holds over 70% of the company’s shares, having diluted his stake from over 95% to attract institutional investors.
- First Bank of Nigeria Holdings Plc (FBN Holdings): Otedola serves as the chairman of FBN Holdings, one of Nigeria’s prominent financial institutions.
However, this development has sparked several reactions online as there is no Igbo on the List of top billionaires in Nigeria. Some claimed that there are lots of wealthy Igbos but they just don’t disclosed their assets compared to those mentioned above.
See reactions below;
odumejetv1: Dangote is the richest man in Africa but Nigerian politicians knows that Dangote is not the richest man in Nigeria.
melzzy___’: Arthur Eze smiling at one corner ?.
chioma_mathias: Politicians looking at this smiling “ you dunno what’s going on “
cash.freezo: Some igbo men get that money but we don’t make noise ??.
plenty_dreams: Adenuga is such a silent billionaire 🙌.
mr_white7515: But wait how come Dr Deji Adeleke no dey among the 10 richest men in Africa ?? I mean Davido father. How come?? And also I no see my own father too on the list. I think the list is not correct.