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

The names appear in the latest Africa Billionaires ranking released by Forbes, underscoring Nigeria’s continued presence among the continent’s wealthiest business leaders.

The updated ranking shows that Africa’s billionaire class significantly expanded their fortunes over the past year.

According to Forbes, the 23 billionaires in Africa now have a combined net worth of $126.7 billion, representing a 21 per cent increase from 2025 after they collectively added $20.3 billion to their fortunes.

Aliko Dangote retained his position as Africa’s richest man, with an estimated net worth of $28.5 billion.

The Nigerian industrialist added about $4.6 billion to his fortune over the past year, largely driven by the strong performance of Dangote Cement on the Nigerian Exchange Limited.

Shares of the cement giant have climbed nearly 69 per cent since March 2025, supported by strong earnings growth.

The company also recorded a major financial milestone in 2025 after doubling its profits to about N1 trillion, the highest in its history.

Another Nigerian billionaire making significant gains is Abdulsamad Rabiu, founder of BUA Group. His wealth surged by 120 per cent, or $6.1 billion, to $11.2 billion, making him the third-richest person in Africa, up from sixth position last year.

The increase in Rabiu’s net worth was largely driven by the performance of BUA Cement, whose shares rose 135 per cent over the past year, outperforming the broader rally on the Nigerian Exchange Limited.

Telecommunications magnate Mike Adenuga also retained his place among Africa’s billionaires.

The founder of Globacom and chairman of Conoil Producing remains one of Nigeria’s most influential entrepreneurs, with diversified interests spanning telecommunications, oil and gas, and banking.

The chairman of Geregu Power Plc, Femi Otedola also featured on the list despite a slight dip in his wealth over the past year.

Forbes estimates that the billionaire investor lost about $200 million following the sale of a majority stake in the power generation company at a discount to its market price.

Across the continent, billionaire fortunes were boosted by strong equity market performance, record corporate profits, and improving currency stability in several African economies.

South Africa has the highest number of billionaires on the list with seven individuals, followed by Egypt with five, Nigeria with four, and Morocco with three.

The Forbes ranking also highlights the entrepreneurial nature of wealth creation across Africa. Fourteen of the 23 billionaires on the list are self-made, having built their fortunes through business ventures rather than inheritance.

Despite the growth in wealth among the continent’s richest individuals, the list still reflects a significant gender imbalance, with no female billionaires from Africa appearing in the 2026 ranking.