Forbes has listed Nigerian businessmen Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola as the richest Nigerians in 2024.

This comes at a time when the combined wealth of Nigeria's top three richest businessmen has fallen slightly by 11.23% to $25.3 billion, according to Forbes Real-Time Billionaires, released on Tuesday.

The three Nigerians are the President/Chief Executive of the Dangote Group, Aliko Dangote; BUA Group Chairman Abdul Samad Rabiu and Globacom boss Mike Adenuga.

The value represented a reduction of US$3.2 billion compared to the US$28.5 billion recorded by business tycoons in 2023.

A detailed analysis shows that the fortune of the founder of the Dangote group has decreased slightly, from 14.2 billion dollars in 2023 to 13.4 billion dollars.

The BUA group chairman's wealth also reduced marginally to $5.2 billion in 2024 from $8.2 billion in 2023, while Adenuga's fortune increased from $6.1 billion to $6.7 billion dollars in the space of a year.

Meanwhile, Nigerian business tycoon, Otedola, has been listed as a new entrant into the billionaires list, with a total net worth of $1.4 billion.

In the list, Dangote, ranked 144th, was described as the richest man in Africa and the richest black man in the world.

His business empire, the Dangote Group, is one of the largest private sector employers in Nigeria, as well as the most valuable conglomerate in West Africa.

Adenuga, ranked 409th on the Forbes list, is a Nigerian billionaire businessman, his company Globacom is the second largest telecommunications operator in Nigeria and also has a presence in Ghana and the Republic of Benin.

He owns stakes in the oil exploration company Conoil.

Forbes estimated his net worth at $6.7 billion in 2024.

Rabiu is a Nigerian billionaire businessman and philanthropist, founder and chairman of the BUA Group, a Nigerian conglomerate that focuses on industry, infrastructure and agriculture and produces revenue in excess of US$2.5 billion and was ranked at number 581 on the Forbes list.

While Otedola is a Nigerian businessman and philanthropist and the current Executive Chairman of Geregu Power Plc.

He is ranked number 2,152 with a net worth of $1.4 billion

He is the founder of Zenon Petroleum and Gas Limited and owner of a number of other companies in the areas of shipping, real estate and finance.

It recently invested in power generation as part of the liberalization of the sector in Nigeria.

According to Forbes, there are 2,781 individual billionaires across the world.

It has labeled 2024 as a year for the planet's billionaires, whose fortunes continue to rise as global stock markets shrug off war, political unrest and persistent inflation.

Forbes said: “There are now more billionaires than ever: 2,781 in total, 141 more than last year and 26 more than the record set in 2021. They are richer than ever, worth $14.2 trillion in total, an increase of US$2 trillion over 2023. and US$1.1 trillion above the previous record, also set in 2021. Two-thirds of the members on the list are worth more than they were a year ago; only a quarter are poorer.

“Much of the gains come from the top 20, who have accumulated a combined wealth of $700 billion since 2023, and the US, which now boasts a record 813 billionaires worth a total of $5.7 billion. China remains in second place, with 473 (including Hong Kong) valued at $1.7 trillion, despite weak consumer spending and a housing crisis that helped wipe out $200 billion in wealth and topple 89 billionaires from ranks. India, which has 200 billionaires (also a record), ranks third.”

“In total, 265 new faces are new to the world's billionaires. The richest of all is Italian Andrea Pignataro, a former Salomon Brothers bond trader, responsible for the financial software company ION Group. He’s worth about $27.5 billion.”

According to the magazine, other notable newcomers include fast-food chain Raising Cane's founder Todd Graves ($9.1 billion); Maggie Gu, Molly Miao and Ren Xiaoqing ($4.2 billion each); three co-founders of fast fashion giant Shein; iconic high heel designer Christian Louboutin ($1.2 billion); and Elon Musk's friend and Tesla and SpaceX investor Antonio Gracias ($1.1 billion).

It claimed that its “world's billionaires list” was a snapshot of wealth using stock prices and exchange rates as of March 8, 2024.