Nigeria records a steep decline in private wealth over the past decade while retaining its ranking among African countries by the number of dollar millionaires, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth. The report says Nigeria has an estimated 7,200 dollar millionaires, 20 “centi-millionaires” (at least $100 million) and three billionaires, placing it fourth in Africa by millionaire population. Despite this position, Nigeria experiences one of the sharpest decreases in high-net-worth individuals on the continent, with its millionaire population down 47% compared with 2015, according to the sources. In the overall African ranking, South Africa leads with 41,100 millionaires, followed by Egypt with 14,800 millionaires. Morocco ranks third with 7,500 millionaires, narrowly ahead of Nigeria, while Kenya completes the top five with 6,800 millionaires. The report also notes that some countries are excluded from comparisons due to insufficient reliable data, including Tunisia and the Democratic Republic of Congo.
Nigeria sees 47% drop in dollar millionaires but remains Africa’s fourth-largest market
Nigeria records a steep decline in private wealth over the past decade while retaining its ranking among African countries by the number of dollar millionaires, according to the 2025 Africa Wealth Rep...
- Nigeria is home to an estimated 7,200 dollar millionaires, 20 centi-millionaires and three billionaires.
- Nigeria retains fourth position in Africa by the number of dollar millionaires.
- Nigeria’s dollar millionaire population declines by 47% from 2015 to 2025.
- South Africa ranks first in Africa; Egypt is second; Morocco is third; Kenya is fifth.
- Some countries, including Tunisia and the Democratic Republic of Congo, are excluded due to insufficient reliable data.
By Babajide Komolafe Nigeria has lost nearly half of its dollar millionaires over the past decade, with the population of high-net-worth individuals falling by 47 per cent between 2015 and 2025, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth. Despite the sharp erosion in private wealth, Nigeria […] The post Nigeria loses 47% of dollar millionaires, retains 4th position in Africa appeared first on Vanguard News.
4 hours agoNigeria has retained its position as Africa’s fourth-wealthiest country by number of dollar millionaires, despite recording one of the continent’s steepest declines in high-net-worth individuals over the past decade. According to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth, Nigeria is said to be a home to an estimated 7,200 millionaires, 20 centi-millionaires (worth at least $100 million) and three billionaires. However, the report noted that the record represents a 47 percent decline in its millionaire population since 2015. South Africa sits atop the ranking, with 41,100 millionaires, 112 centi-millionaires and eight billionaires, followed by Egypt with 14,800 millionaires, 49 centi-millionaires, and seven billionaires. Morocco ranked third with 7,500 millionaires, 35 centi-millionaires and four billionaires, narrowly ahead of Nigeria, while Kenya completed the top five with 6,800 millionaires but no billionaires. Mauritius takes the sixth position, with 4,800 millionaires, followed by Algeria (2,700), Ghana (2,600), Namibia (2,500) and Ethiopia (2,400) to complete the top 10 list. Among the countries tracked in the report, Seychelles had the fewest resident millionaires at 500 — recording one billionaire and six centi-millionaires. Mozambique followed with 800 millionaires, while Rwanda and Zambia each had 1,000 millionaires. Uganda ranked fifth from the bottom with 1,600 millionaires. The report noted that several African countries, including Tunisia and the Democratic Republic of Congo, were excluded because of insufficient reliable data.
15 hours ago
Russia charges Telegram founder Pavel Durov with aiding terrorism and issues arrest warrant
Russia’s Federal Security Service (FSB) charges Pavel Durov, the founder and co-founder of the messaging app Telegram, w...
Netanyahu meets Trump at White House for first time since Iran war began
Israeli Prime Minister Benjamin Netanyahu meets U.S. President Donald Trump at the White House for the first time since...
LandBank ex-manager says OVP withdrawals of cash totaling P500 million were “unusual”
Retired Land Bank of the Philippines (LandBank) manager Violeta Constantino testifies during Vice President Sara Duterte...