Find out more as Dangote leads as top Nigerian billionaires record major wealth gains

• Forbes data showed Nigerian billionaires Aliko Dangote, Abdul Samad Rabiu and Femi Otedola saw their combined wealth surge by $1.7 billion in 3 days
• Dangote recorded the biggest gain as Dangote Cement shares jumped 10%, while First HoldCo shares also rose 10%, boosting Otedola's fortune
• The NGX market capitalisation climbed to N160.5 trillion, its highest level in seven days, as share prices rallied

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Three of Nigeria's wealthiest businessmen, Aliko Dangote, Abdul Samad Rabiu and Femi Otedola, added a combined $1.7 billion to their fortunes between Tuesday and Friday as share prices on the Nigerian Exchange Limited (NGX) recovered.

Forbes' real-time billionaire tracker showed their combined wealth climbed to $73.1 billion on Friday, up from $71.4 billion on Tuesday.

Dangote recorded the largest individual gain, adding $1 billion, while Rabiu's fortune grew by $600 million and Otedola's by $100 million over the same period.

BusinessDay reports that their net worth rose following the strong performance of Nigerian stocks, with total market capitalisation reaching N160.5 trillion on Friday, its highest level in seven days.

Dangote Cement and First HoldCo shares boost billionaires' wealth

Dangote Cement shares rose 10% to N1,111, lifting its market capitalisation to N18.5 trillion, while Dangote Sugar gained 0.45% to N67.

Otedola benefited from First HoldCo’s 10% share price increase to N144.10, taking its market capitalisation to N6.55 trillion. The bank also reported a 65% rise in nine-month profit after tax to N450.87 billion.

Rabiu’s BUA Foods and BUA Cement shares remained unchanged at N760.60 and N297, respectively. However, Forbes’ tracker recorded a $600 million increase in his estimated net worth.

Nigerian billioniares wealth surges

Dangote's estimated fortune increased from $13.4 billion in 2024 to $51.7 billion by September 2026. Rabiu's wealth rose from $5.2 billion to $12.5 billion over the same period, while Otedola's increased from $1.4 billion to approximately $2 billion.

Nigeria's four billionaires were collectively worth $26.7 billion in 2024.

Their combined wealth rose to $43.1 billion in 2025 and reached $73.2 billion by September 2026, a gain of approximately $46.5 billion, or 174%, in less than two years.

Meet 17 Nigerian billionaires controlling $37.7bn in shares on NGX

Earlier, Legit.ng reported that 17 wealthy investors, including Aliko Dangote, Femi Otedola, and Tony Elumelu, controlled Nigerian Exchange (NGX) shares valued at $100 million or more each as of September 11, 2026.

A review by Billionaires.Africa, based on company shareholder registers and closing share prices, valued their combined NGX holdings at about $37.7 billion.

However, the wealth is heavily concentrated at the top. BUA Group founder Abdulsamad Rabiu and Africa’s richest man, Aliko Dangote, alone account for roughly three-quarters of the combined value.

Source: Legit.ng