Amid its economic challenges, Nigeria has emerged as the leading hub for self-made billionaires in Africa in 2023, according to the Billionaire Ambitions Report.
In a comprehensive analysis of Middle East and Africa (MEA) nations, Nigeria, with its vast population of approximately 200 million people, claimed the top spot with an impressive 66.6% of self-made billionaires, surpassing South Africa (60%) and Egypt (50%).
Delving into the specifics, the report highlighted three prominent Nigerian billionaires—Aliko Dangote, In an extensive analysis encompassing Middle East and Africa (MEA) nations, Nigeria, boasting a staggering population of approximately 200 million people, has claimed the top position with an impressive 66.6% of self-made billionaires, outpacing South Africa (60%) and Egypt (50%).
The report delves into specific details, highlighting three prominent Nigerian billionaires—Aliko Dangote, AbdulRabiu Samad, and Mike Adenuga—whose combined wealth has surged by nearly 20%, reaching a substantial $28.5 billion.
This is attributed to the market performance of their consumer retail and oil company performance.
The bulk of the wealthy people on Nigeria’s list are self-made billionaires who have earned their status through remarkable achievements.
For instance, Mike Adenuga made his fortune in telecom and oil production. His mobile phone network, Globacom, stands as Nigeria’s third-largest operator, and his oil exploration entity, Conoil Producing, manages six oil blocks in the Niger Delta.
Aliko Dangote, Africa’s wealthiest individual, founded and chairs Dangote Cement, the continent’s largest cement producer, holding an 85% stake in publicly traded Dangote Cement through a holding company.
