Dangote, others on Forbes billionaires list, proof of prosperity – TMSG

By Salif Atojoko

The Tinubu Media Support Group (TMSG) says the presence of four Nigerian entrepreneurs on the 2025 Forbes list of Africa’s 22 wealthiest individuals is proof of prosperity in the country.

Mr Emeka Nwankpa, Chairman of the group, said this in a statement made available to the News Agency of Nigeria (NAN) Abuja on Tuesday.

Nwankpa noted that it was instructive that Dangote Refinery was instrumental to Aliko Dangote retaining his position as Africa’s richest man.

“Like many Nigerians, we are enthused that four Nigerians whose wealth was largely homegrown and sustained in the last year are on the Forbes list of Africa’s 22 billionaires in dollars.

“Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola are all on the 2025 Forbes billionaires list, which also has seven South African nationals among Africa’s wealthiest individuals,” he said.

He also said that it was noteworthy that Dangote retained his position as Africa’s richest person for the 14th year in a row.

This he said was because his net worth increased from 13.9 billion dollars to 23.9 billion dollars in 2024 as a result of the inclusion of Dangote Refinery’s valuation in Forbes’ calculations.

“This, for us, is a clear indication of prosperity in Nigeria and there is a strong possibility that by the time Abdulsamad Rabiu, who is sixth on the list with a fortune of 5.1 billion dollars, completes his BUA Refinery in Uyo, his ranking will improve.

“And there is Mike Adenuga, who is ranked fifth in Africa with a net worth of 6.8 billion dollars, mainly as a result of his ownership of Nigeria’s first private indigenous telecom company.

“The fourth Nigerian on the Forbes list, Femi Otedola, with a net worth of 1.5 billion dollars, is known to be actively diversifying his business concerns from the downstream sector of the oil industry to banking and power generation through his Geregu Power Plant,” he added.

Nwankpa noted that each of the billionaires grew their wealth by at least 25 per cent in the first 22 months of the Tinubu administration.

“This cannot be coincidental, and for us it is an indication of the immense opportunities in the country.

“It is therefore not surprising that foreign investors are trooping into the country, even at a time that opposition elements are spinning doomsday scenarios on the national economy,” he further said.

He expressed optimism that more Nigerian entrepreneurs with wealth linked to the stock market would make subsequent Forbes list of Africa’s billionaires in the aftermath of President Tinubu’s pro-business policies. (NAN) (www.nannews.ng)