Nigerian Billionaires on the 2020 Forbes “Africa’s Billionaires” list

aliko dangote billionaire northern nigeria poverty

Africa’s Billionaires is an annual ranking of the richest African people, compiled and published by the American business magazine- Forbes. It tracks the wealth of African billionaires who reside in Africa or have their primary businesses there. According to the list, Africa’s 20 wealthiest people are richer in 2019 than 2018 with a combined net worth at $73.4 billion. Therefore, we are proud to spotlight the Nigerian billionaires on the list.

Nigeria vaunts four spots on the list including the top stop for the richest African. Meanwhile, Egypt and South Africa tie with 5 billionaires each, Morocco has two, while Zimbabwe and Tanzania have one billionaire each.

1. Aliko Dangote

Interestingly, Aliko Dangote is not only the richest African but also the richest black person in the world. This year, he takes up the top spot for the 9th time in a row. The 62 year old Kano-born billionaire, Aliko Dangote has interests in commodities in Nigeria and other African countries. Furthermore, his net worth stands at a whooping amount of $10.1 billion.

2. Mike Adenuga

Popularly known for the telecommunication giant, Globacom, Mike Adenuga maintains his position as the second of the Nigerian billionaires and third spot on the continent with a networth of $9.6 billion. His investments portfolio includes telecommunications oil and gas (Conoil) and real estate. He is 66 years old. 

3. Abdulsamad Rabiu

The 59 year old Rabiu manufacturing mogul takes up the 8th spot on the list. He is the founder of BUA Group, a Nigerian conglomerate dealing in cement production, sugar refining and real estate. His net worth stands at $3.1 billion.

4. Folorunsho Alakija

Former richest woman in the world comes in  20th as one of the only two women on the list. The 68 year old billionaire with a net worth of $1 billion owns Famfa Oil Limited, a Nigerian oil exploration company.

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