Nigeria Ranks Fourth In Africa For Dollar Millionaires Despite 47% Decline
Adedokun Waliyu
1 min read
Nigeria has retained its position as the fourth-wealthiest country in Africa by number of dollar millionaires, according to the 2025 Africa Wealth Report by Henley & Partners in collaboration with New World Wealth.
The report estimates that Nigeria is home to 7,200 dollar millionaires, 20 centi-millionaires (individuals worth at least $100 million), and three billionaires.
Despite this ranking, Nigeria recorded one of the continent’s sharpest declines in wealth, with its millionaire population falling by 47 percent since 2015.
Top 10 African countries by number of dollar millionaires:
South Africa – 41,100
Egypt – 14,800
Morocco – 7,500
Nigeria – 7,200
Kenya – 6,800
Mauritius – 4,800
Algeria – 2,700
Ghana – 2,600
Namibia – 2,500
Ethiopia – 2,400
South Africa also leads the continent with 112 centi-millionaires and eight billionaires, while Egypt has 49 centi-millionaires and seven billionaires. Morocco ranks third with 35 centi-millionaires and four billionaires.
The report further noted that Seychelles has the fewest resident millionaires among the countries surveyed, with 500 millionaires, followed by Mozambique (800), Rwanda (1,000), Zambia (1,000) and Uganda (1,600).
Several African countries, including Tunisia and the Democratic Republic of the Congo, were excluded from the report due to insufficient reliable data.
