In the last 24 hours, the fortunes of Nigeria’s wealthiest individuals have experienced a significant surge, with their combined wealth rising to $25.7 billion, a slight increase from the previous day’s total of $25.3 billion.
The rise in wealth is attributed to the depreciation of the naira, which has had a positive impact on the net worth of the country’s top billionaires.
- Aliko Dangote
According to the Forbes Billionaire Index, Aliko Dangote, the founder of the Dangote Group, remains the wealthiest man in Nigeria and Africa’s richest person, with a net worth of $12.4 billion. This increase in wealth has propelled him four places in the global rankings, moving from 160th to 156th position.
2. Mike Adenuga
Mike Adenuga, the founder of Globacom and Conoil Producing Company, is second on the list with a net worth of $6.7 billion, up from $6.5 billion. His wealth has also seen a notable increase in the last 24 hours, elevating him to 433rd position on the global rich list.
3. Abdulsamad Rabiu
Abdulsamad Rabiu, the founder of BUA Group, is third on the list with a net worth of $5 billion, making him 605th richest man in the world.
4. Femi Otedola
Femi Otedola, one of Nigeria’s wealthiest individuals, rounds out the top four with a net worth of $1.4 billion, placing him 2,177th on the global rich list.
The increase in wealth for Nigeria’s billionaires is attributed to the depreciation of the naira, which has made their assets more valuable in terms of foreign currency. This is likely to continue as long as the currency continues to depreciate.
In related news, Aliko Dangote has revealed his expectation that his businesses will generate over $30 billion in revenue by the end of 2024. This is likely to be driven by his extensive business empire, which includes subsidiaries specialising in goods and services across various sectors of Nigeria’s economy.
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