Dangote, Adenuga, Rabiu, Others Named in Forbes’ 2025 African Billionaires List

Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola have been named in Forbes’ 2025 billionaires list in Africa.
There are only four Nigerians named in the list published yesterday.
Forbes said Africa’s 22 billionaires saw their fortunes rise to $105 billion from $82.4 billion that it was in 2024 for 20 billionaires.

According to Forbes, Dangote, the owner of Dangote Petroleum Refinery, occupies the top spot in Africa with a net worth of $23.9 billion from $13.9 billion in 2024
The international magazine attributed the increase in Dangote’s wealth to the valuation of his refinery, which was added to the calculation of the net worth.

Adenuga, Chairman of Globacom, a telecommunication company in Nigeria, is in fifth position in Africa with a net worth of $6.8 billion.
With a $5.1 billion net worth, Rabiu, Chairman of BUA Group, is ranked sixth position in Africa.
In the joint 16th position is Otedola, Chairman of the First Bank of Nigeria (FBN) Holdings Plc, with $1.5 billion net worth.
“South Africa had the largest number of billionaires this year, with seven, followed by four from Nigeria and four from Egypt,” Forbes said.

“The list also includes three billionaires from Morocco, one from Algeria (Isaad Rebrab), one from Tanzania (Mohammed Dewiji) and one (Masiyiwa) from Zimbabwe.

“Our list tracks the wealth of African billionaires who reside in Africa or have their primary business there, thus excluding Sudanese-born billionaire Mo Ibrahim, who is a UK citizen; and South African Nathan Kirsh, who operates out of London and has his business in the US and UK
 “Net worths were calculated using stock prices and currency exchange rates from the close of business on March 7, 2025.”

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    Sunday Aborisade in Abuja

    The leaders and people of the Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) have urged President Bola Tinubu to contest the 2027 presidential election.

    They said his reelection would enable him to continue his reforms aimed at Nigeria’s economic recovery, stability, and growth.

    The President of HOSTCOM, Chief Benjamin Style Tamaranabi, who made the call at a news conference in Abuja, yesterday, said it was clear that Tinubu’s leadership has been a turning point for the nation.

    Tamaranabi explained, “The President’s strategic policies and bold reforms have set Nigeria on a path to prosperity, and it is imperative that we consolidate these gains rather than disrupt the progress made so far.

    “Now and then, a leader emerges, who understands the pulse of the people, feels their struggles, and dares to change the course of history. President Bola Ahmed Tinubu is that leader. 

    “The weight of expectations was heavy when he assumed office. Nigeria was at a crossroads. Crude oil production dwindled, debt servicing consumed nearly all revenue.

    “With the audacity of a man, who has walked this path before, President Tinubu rolled up his sleeves and got to work.

    “In nearly two years, the results speak for themselves,” he said.

    Tamaranabi who was surrounded by some  leaders and traditional rulers of the oil and gas host communities said the Grand Patron of HOSTCOM, Chief Government Ekpemupolo (Tompolo), was fully in support of their action.

    He added, “We took this position after a thorough evaluation and critical appraisal of President Tinubu’s performance in less than  two years of his first term.

    “In obedience of clearly unambiguous directives of our Grand Patron, High Chief  Government Oweizide Ekpemupolo, believe that our President should remain in office till 2031 to enable him to conclude all ongoing development initiatives of his administration across the six geopolitical zones of the country.”

    The HOSTCOM President said Tinubu had been to a very great extent, reduce crime and criminal activities in the oil rich Niger Delta region.

    He said, “For decades, oil theft and pipeline vandalism have crippled Nigeria’s economy.

    “The twin cancerous maladies also destroyed the normal life of our people. President Tinubu, through his strategic partnerships with Tantita Security Services Nigeria Limited (TSSNL) and other security agencies, has reduced oil theft to historic lows.

    “The oil and gas sector—long left for dead—has staged a stunning comeback. Crude oil production has jumped from a shameful 600,000 barrels per day to a respectable 1.8 million.

    “Nigeria is earning its rightful place in the global oil market for the first time in years.

     “Perhaps the most significant win has been on security, particularly in the oil-producing Niger Delta.

    “For years, crude oil theft was an open secret, a cartel-driven industry that drained the nation’s lifeblood. Tinubu took the fight to them.

     “TSSNL and other state-backed initiatives put the thieves on notice. Pipelines that once bled crude to illicit refineries now serve the nation.

    “The Petroleum Industry Act (PIA), long a paper tiger, is finally delivering tangible benefits to host communities.

     “Billions of naira are now  flowing into community trusts, to be channelled into provision of local projects—schools, hospitals, and water schemes and these projects are springing up in about 200 locations in Niger Delta.

    “He has steadied the ship. He has empowered local communities. And he needs more time to finish what he started.

     “Politics is about choices. In 2027, Nigerians must choose between continuity and chaos; between stability and the unknown.

     “The future is not built in four years. It takes patience, persistence, and vision. Tinubu has shown that he has all three. He has proven that he is not just a politician but a statesman.

    “In a democracy, no leader is perfect. There will always be challenges, mistakes, and tough decisions. But one thing is clear: Nigeria is better today than it was two years ago. And it will be even better in the years ahead—if we stay the course.”

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    Sunday Aborisade in Abuja The leaders and people of the Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) have urged President Bola Tinubu to contest the 2027 presidential election.

    Tinubu Rejoices with Banking Guru, Jim Ovia, on Admission to Freedom of City of London

    Tinubu Rejoices with Banking Guru, Jim Ovia, on Admission to Freedom of City of London

    Deji Elumoye in Abuja

    President Bola Tinubu rejoiced with the founder and chairman of Zenith Bank Plc., Mr Jim Ovia, on his admission to the prestigious Freedom of the City of London.

    Admission to the Freedom of the City of London is an honour bestowed on individuals either for their service to the city or for their achievements.

    The president, in a release issued on Monday by his Adviser on Information and Strategy, Bayo Onanuga, described the honour as a fitting recognition of Ovia’s exceptional contributions to business, innovation, and technology.

    It was also a testament to Ovia’s role in shaping Nigeria’s financial landscape and strengthening economic ties between Africa and the rest of the world.

    According to Tinubu, “This honour is a testament to your unwavering commitment to excellence, your pioneering role in the growth of the financial services sector in Nigeria, and your visionary leadership that continues to inspire generations.

    “As an accomplished entrepreneur and advocate of innovation-driven development, your recognition in the City of London affirms the global relevance of Nigerian excellence and enterprise.” 

    The president commended Ovia for being a distinguished ambassador of the country’s private sector and wished him continued success in his endeavours.

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    Deji Elumoye in Abuja President Bola Tinubu rejoiced with the founder and chairman of Zenith Bank Plc., Mr Jim Ovia, on his admission to the prestigious Freedom of the City

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