Nigeria Ranks Fourth Wealthiest African Nation Despite Millionaire Decline
Nigeria ranks as the fourth-wealthiest African country by millionaire count, though its high-net-worth population has fallen 47 percent since 2015.
Henley & Partners and New World Wealth reported that Nigeria is the fourth-wealthiest African nation by the number of dollar millionaires in the 2025 Africa Wealth Report. The study estimates the country has 7,200 millionaires, 20 centi-millionaires, and three billionaires.
Despite this ranking, Nigeria has seen one of the sharpest declines in high-net-worth individuals on the continent. The millionaire population in Nigeria dropped 47 percent between 2015 and 2025.
South Africa leads the continent with 41,100 millionaires, followed by Egypt and Morocco, with Kenya rounding out the top five. Tunisia and the Democratic Republic of Congo were excluded from the report due to a lack of reliable data.
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