FG reacts as 4 Nigerians make Forbes' 2025 list of the 22 richest individuals in Africa
- FG stated that four Nigerian company entrepreneurs are included in Forbes' 2025 list of the 22 richest people in Africa
- Emeka Nwankpa, the chairman of the group, said the Dangote Refinery was the reason why Aliko Dangote remained Africa's richest man
- He said it was noteworthy that Dangote has maintained his position as Africa's richest man for the fourteenth year in a row
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
The Tinubu Media Support Group (TMSG) claims that the success of Nigeria is demonstrated by the fact that four Nigerian entrepreneurs are included in Forbes' 2025 list of the 22 richest individuals in Africa.
Source: UGC
According to the group's chairman, Emeka Nwankpa, Aliko Dangote's continued status as Africa's richest man was made possible by the Dangote Refinery.
“Like many Nigerians, we are enthused that four Nigerians whose wealth was largely homegrown and sustained in the last year are on the Forbes list of Africa’s 22 billionaires in dollars.
“Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola are all on the 2025 Forbes billionaires list, which also has seven South African nationals among Africa’s wealthiest individuals,” he said.
Furthermore, he stated that it was significant that Dangote continued to hold the title of richest person in Africa for the fourteenth consecutive year.
He explained that the inclusion of Dangote Refinery's valuation in Forbes' estimations caused his net worth to rise from 13.9 billion dollars to 23.9 billion dollars in 2024.
“This, for us, is a clear indication of prosperity in Nigeria and there is a strong possibility that by the time Abdulsamad Rabiu, who is sixth on the list with a fortune of 5.1 billion dollars, completes his BUA Refinery in Uyo, his ranking will improve.
“And there is Mike Adenuga, who is ranked fifth in Africa with a net worth of 6.8 billion dollars, mainly as a result of his ownership of Nigeria’s first private indigenous telecom company.
“The fourth Nigerian on the Forbes list, Femi Otedola, with a net worth of 1.5 billion dollars, is known to be actively diversifying his business concerns from the downstream sector of the oil industry to banking and power generation through his Geregu Power Plant,” he added.
According to Nwankpa, during the first 22 months of the Tinubu administration, the wealth of each of the billionaires increased by at least 25%.
Source: UGC
“This cannot be coincidental, and for us it is an indication of the immense opportunities in the country.
“It is, therefore, not surprising that foreign investors are trooping into the country, even at a time that opposition elements are spinning doomsday scenarios on the national economy,” he further said.
Following President Tinubu's pro-business policies, he expressed hope that more Nigerian business owners with stock market-related riches would be included in Forbes' next list of Africa's billionaires.
Nigeria’s 4 richest men net worth rises by 32% in one month
Legit.ng reported that the combined net worth of Nigeria's four richest men on the Forbes Billionaire List is now $37.1 billion as of Thursday, March 13, 2025.
This represents a 32.9% increase from the $24.9 billion combined net worth recorded on February 12, 2025.
The four billionaires are Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola.
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Source: Legit.ng
