ABUJA - Despite increasing economic hardships, the latest wealth report has indicated that the number of millionaires in Nigeria has risen to 15,400, about 305 per cent from 5,000 recorded in year 2000, when the last study on wealthy was conducted. Their combined networth is about USD150 billion (about N30 trillion).Global Wealth reporters are calculated on legitimate and registered assets within the tax net. According to the latest research report by New World Wealth focusing on Africa’s wealthy class 2015, wealthy elite is expanding at a dramatic pace. Forbes wealth report had put total wealth of top 15 wealthy Nigerians at about USD36 billion (about N7.2 trillion). The top 10 list includes Aliko Dangote, Mike Adenuga, Folorunsho Alakija, Femi Otedola, Abdulsalamad Rabui, Theophilus Danjuma, Orji Uzor Kalu, Tony Elumelu, Jim Ovia, Mohammed Indimi and Tunde Folawiyo. Some of Nigeria’s millionaires Though Nigeria was rated high in general economic performance emerging the largest economy in Africa, according to the ranking parameters, the 305 per cent growth rate in number of millionaires puts the country fourth position in Africa behind Angola, Ghana and Zambia which came first, second and third with percentage growth rate in number of millionaires at 482 per cent, 440 per cent and 400 per cent growth respectively. However the number of millionaires in these countries are far less than in Nigeria with Angola, Ghana and Zambia recording 1500, 2700 and 1000 millionaires respectively. Moreover the continents economy powerhouses Morrocco, South Africa and Algeria took distant back positions in rate of growth in number of millionaires in the continent coming 15th, 12th and 8th respectively. However the number of millionaires in these big econmies are still far much more than other countries with South Africa in predominance at 46,800 millionaires. ‘’Though huge parts of Africa remain locked in extreme poverty, it’s impossible to miss the emergence of ultra-wealthy individuals’’, the report stated. New World Wealth defines High Net Worth Individuals (HNWI) as people with net assets of USD1 million and above. Overall in Africa, the number of HNWIs has risen by 145 per cent over the period, while the world in general has seen an increase of just 73 per cent. New World Wealth provides information on the global wealth sector, with a special focus on high growth markets.
http://www.vanguardngr.com/2015/08/nigerias-millionaire-class-increases-from-5000-to15400/

Ok

am not surprised, GEJ thank you for opening up Nigeria, encouraging SME's

Today i can go shopping and find it difficult to choose which brand of soap to buy, you see varieties that never existed before 2010.

checking the shelves i can now see made in Nigeria, corn flasks, soaps, creams, detergents, bags, hats, quality dresses, the list is endless.

Just in my area, i saw 3 bakeries who got their funds through YOUWIN program, i have a friend who has a poultry courtesy YoUwin.

A visit to Nairaland business section will give you a clue of how the economy has faired in the last 6years.

How many online shops did we have in Nigeria as at 2010? and how many do we have now? e-commerce is booming, personally another friend of mind started with 10k, today his business is worth 1. 3million naira, this guy is not thinking of applying for jobs any longer

i have busy chores to meet up, i would have list many things.

For those who are blind by sentiments and refuse to position themselves to benefit from your policies that's their business

Big Joke! Whoever compiled this list must have been high on sth?!

15400 millionaires in Nigeria out of 170million pple? Only? hahaha!!!

Big joke i repeat!!! Even in Lagos state alone, i'm pretty sure there are more numbers than that.

Happiness87:
am not surprised, GEJ thank you for opening up Nigeria, encouraging SME's

Youngsage:

abi I de lie, it appears you have joined the millionaire's class

That's me they are referring to me. I belong to that list. Thanks Gej. God bless Nigeria.

spanishkid:
That's me they are referring to me. I belong to that list. Thanks Gej. God bless Nigeria.

what industry or venture are you involved?

Happiness87:
what industry or venture are you involved?

agriculture and interior decorations and designs. I'll post some pics of them soon.

spanishkid:
agriculture and interior decorations and designs. I'll post some pics of them soon.

it will be cool you share your story, how you started and how it has been thus far

Happiness87:
it will be cool you share your story, how you started and how it has been thus far

Real Estate... story for another day though

Happiness87:
it will be cool you share your story, how you started and how it has been thus far

well. I started small. The idea came to me when I was doing my Masters degree in Canada. Fortunately, I got a job there as soon as I rounded up the programme and I started working. I was working as an assistant human resources manager and the salary was good. I was earning around $30k - 35k monthly and one of my uncles who has one of the biggest farms in edo state told me to invest in agriculture and that I'll reap handsomely. I followed his advice and started a farm with just 1k. I got a land in a rural area and cos the lands were not expensive I used that opportunity to acquire more plots. I won't lie it wasn't easy. Cost of powering the generator, making sure there's water, feeding and vaccination where hectic. At some point I wanted to give up but my uncle encouraged me to continue. My parents did too. Fast forward 2005 till now. A lot has changed I have over 100k birds, (including turkeys, broilers, layers, and you chicks), 500 fishes, 500 pigs and I even have my own mill where I make my own feeds. I have a supplier who supplies me the raw materials for making the feeds from the north and it's cheap but cost of transportation. I've been able to buy 4 farm vehicles that carry my goods to wherever they are needed.

spanishkid:
,

e-commerce, a bit of poultry, my mum is managing it, no plans for expansion at the moment, looking at manufacturing soon

kazmanbanjoko:
okay

Happiness87:
am not surprised, GEJ thank you for opening up Nigeria, encouraging SME's

Today i can go shopping and find it difficult to choose which brand of soap to buy, you see varieties that never existed before 2010.

checking the shelves i can now see made in Nigeria, corn flasks, soaps, creams, detergents, bags, hats, quality dresses, the list is endless.

Just in my area, i saw 3 bakeries who got their funds through YOUWIN program, i have a friend who has a poultry courtesy YoUwin.

A visit to Nairaland business section will give you a clue of how the economy has faired in the last 6years.

How many online shops did we have in Nigeria as at 2010? and how many do we have now? e-commerce is booming, personally another friend of mind started with 10k, today his business is worth 1. 3million naira, this guy is not thinking of applying for jobs any longer

i have busy chores to meet up, i would have list many things.

For those who are blind by sentiments and refuse to position themselves to benefit from your policies that's their business

This report is nonsense. Millionaires in Port Harcourt alone are up to 50, 000. I mean people worth more than 200million Naira. These people know nothing about Nigeria.

Dats a good news