Nigeria remains Africa’s fourth-wealthiest country by number of dollar millionaires with an estimated 7,200, despite a 47 percent decline in its millionaire population since 2015, according to the 2025 Africa Wealth Report.
Nigeria Ranks 4th in Africa for Dollar Millionaires
Nigeria’s still rich — just less rich than before. According to TheCable, the 2025 Africa Wealth Report by Henley & Partners shows Nigeria holds an estimated 7,200 millionaires, 20 centi-millionaires and three billionaires, ranking fourth on the continent despite a 47 percent decline in its millionaire population since 2015.
South Africa leads with 41,100 millionaires, followed by Egypt with 14,800 and Morocco with 7,500, narrowly ahead of Nigeria. Kenya rounds out the top five with 6,800 millionaires but no billionaires.
Seychelles recorded the fewest millionaires at 500, though it boasts one billionaire. Countries like Tunisia and the DR Congo were excluded from the rankings due to insufficient reliable data.
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