Afrigather The mixed wealth of 4 Nigerian billionaires totalled $27.8 billion in Q1 2024, as reported by the Forbes Actual-Time Billionaires Listing.
Nevertheless, this determine dropped to $27.3 billion in Q2 2024, representing a lower of roughly 1.8%. The downward development continued into Q3, the place their mixed wealth additional declined to $24.9 billion, reflecting an 8.8% lower over the past quarter.
Learn additionally: Nigerian billionaires’ wealth declines in q2 2024 amid financial challenges
Aliko Dangote skilled essentially the most important lower, together with his internet price dropping by roughly 17.8%.
Mike Adenuga skilled a slight lower in his wealth, with a decline of roughly 1.5%. Abdulsamad Rabiu additionally confronted a decline, together with his fortune dropping by about 16.1%.
Femi Otedola maintained his internet price at $1.5 billion, with no change over the quarter.
Recall that in June, Forbes reported that Aliko Dangote had misplaced his place as Africa’s richest individual for the primary time in 12 years, overtaken by Johann Rupert of South Africa, who has amassed a fortune in luxurious items and different ventures.
Learn additionally: Meet 4 Nigerian billionaires price greater than two African nations’ GDP – Forbes
The decline in Dangote’s wealth coincided with the Central Financial institution of Nigeria’s (CBN) determination to drift the naira on June 14, transferring away from the mounted trade fee with the U.S. greenback.
Analysts forecast a rebound in Aliko Dangote’s wealth because of the elevated manufacturing capability of the Dangote Refinery, anticipated to succeed in full capability by 2025, refining as much as 650,000 barrels per day. This may increasingly elevate its enterprise worth to round $42.6 billion. The refinery’s dominant place in Nigeria’s gas market and plans to export refined merchandise to different African nations place it for progress, probably boosting Dangote’s internet price and inserting him among the many prime 30 richest people globally.
Learn additionally: 4 nations in Africa with essentially the most billionaires in 2024 – Forbes
In keeping with Forbes Actual-Time Billionaires Listing, Listed below are 4 Nigerian billionaires on the Forbes record price $24.9 billion as of October 03
- Aliko Dangote – $11.1 billion
- Mike Adenuga — $6.6 billion
- Abdulsamad Rabiu – $4.7 billion
- Femi Otedola — $1.5 billion
Chisom Michael
Chisom Michael is an information analyst (viewers engagement) and author at BusinessDay, with numerous expertise within the media trade. He holds a BSc in Industrial Physics from Imo State College and an MEng in Laptop Science and Expertise from Liaoning Univerisity of Expertise China. He specialises in listicle writing, profiles and leveraging his abilities in viewers engagement evaluation and data-driven insights to create compelling content material that resonates with readers.
