When Forbes released the top black billionaires of 2025, it was surprising to see Aliko Dangote on top of the list despite the devaluating status of the Naira over time. His latest refinery establishment upped his billions game, making him the richest black billionaire.
There are other Nigerian billionaires on this list holding significant positions on the Forbes’ Black Billionaires of 2025.
1. Aliko Dangote
Dangote’s wealth is estimated to be about $23.6 billion, a wealth he amassed from selling sugar and cement. After 11 years, $23 billion in investment, and innumerable headaches, the Dangote Refinery finally began operating in early 2024, helping boost Dangote’s fortune by $10.5 billion since last year’s list.
2. Mike Adenuga
His $6.8 billion is amassed from oil and telecommunications. Mike’s Globacom is one of the thriving networks in Nigeria, and his oil company, Conoil, is a household name in Nigeria. He is the fifth richest billionaire in Africa.
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3. Abdul Samad Rabiu
The founder of the BUA conglomerate’s net worth is currently $5.1 billion, amassed through the production of cement, sugar, and real estate by the side.
Abdul Samad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. He launched the company in 1988 and still serves as chairman and CEO. Through his foundation, the Abdul Samad Rabiu Initiative, he also supports education, health, and social development projects across Africa.
4. Adebayo Ogunlesi
A native of Nigeria and now a U.S. citizen, Ogunlesi is the founding partner, chairman, and CEO of New York-based private equity firm Global Infrastructure Partners (GIP). In October, GIP was acquired by BlackRock for $12.5 billion in cash and shares,
5. Femi Otedola
Otedola made his first fortune in commodities before selling his shares in Forte Oil to invest in the energy business. Today, he is the chairman and majority owner of Geregu Power, a power generation business whose other investors include the Nigerian government and the State Grid Corporation of China.
6. Tope Awotona
Born in Lagos, Nigeria, Awotona moved to Atlanta when he was 15 and studied computer science at the University of Georgia before switching majors to business and management information. In 2013, he founded Calendly, a scheduling software startup, which private investors valued at $3 billion.
