Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above - Business (3)

Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above - Business (3) - Nairaland

Nairaland Forum › Nairaland General › Business › Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above (21596 Views)

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Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Eriokanmi: 4:53pm On Aug 30, 2025

Ezeama400:
There is great problem in Nigeria .

Dangote is the richest man in Africa, yet Nigeria ended up with 4th position, very far behind Egypt and South Africa

This is why I keep telling people to stop celebrating nonsense.. One of the characteristics of a successful society is the number of people doing well in such society, not celebrating the success of one person, to cap it all, the top three countries even have lesser population than Nigerian..

What a mess !!!

Dangote and Adenuga are working for and managing the assets of former Nigerian leaders. Take those assets and investments off their hands and thry become hustlers. Thise SMEs that are unopposed to turn millionaires have been killed by the apc's poor and failed policies, led by Tinubu

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Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by nedekid: 5:08pm On Aug 30, 2025

lawani:
Any average trader with 500 million naira wares is using bank guarantee. It s not easy to gather money like that. From your profits you will build house and then be using that house to secure credit and you don't have a monopoly and you have to also take care of your family. I don't think it is that common to see traders having ten houses unless you scale up your trading.

I understand you, but oga those guys do so much turn over 500m is nothing, maybe a few sales. People that may turn over 20,30,40, 50 forty foot container monthly. From motorcycles, furniture, tvs, kitchen equipment etc. Just biscuits, chocolate bars, nko. What of medicines which are high value products. Imagine a pack of 30 tablets of zeralto costing 50k, then imagine how much it will cost at to fill up a 40foot container. 500m is certainly not much money for a low level importer, when you talk of higher level ones just as how PO was those days, trading capital will be in excess of $5m easy.

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by NairaMaster1(m): 5:15pm On Aug 30, 2025

wanimo:
This statistics is wrong. $1m is just N1.6b..... people wey dey inside market wey get this money for Nnewi alone pass 2000. Onitsha 2000. Alaba 2000, Ariaria 2000, Idumota 1000 Kano Sabon Gari 5000, Abuja 10,000, .... Etc

I taya ooo.

In Lagos alone you can get 10k bizz men with 2B

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by casualobserver: 5:23pm On Aug 30, 2025*

Gerrard59:
I am curious, how do you define "an educated person" or in this context "educated Nigerian"?

Ok by educated i mean people with tertiary education. in total we are around N20m less than 10% of the population. Those who went to good schools and got the best education and have degrees are even less...they are the ones i say know each other.

Gerrard59:
I also agree that we have fewer dollar millionaires than South Africa, which two other posters disagree with, but seeing this comment here: don't you think they might be correct? This is factoring our major markets which serve as hubs for neighbouring countries.

The figure is $1m which excludes real estate assets.

if you remove primary real estate (home) the number is a lot less trust me. Personally i think it is pointless assesing a man's wealth based on the value of his home. He cant sell it or he is homeless and if he sells it he will have to buy another one, so the property is for all intents and pourpose of no value except in an emergency or as inheritance. there are a lot of people who have homes that are valuable not because they paid that price for it but because they bought when it was affordable, they dont have the income of a millionaire and cant sell. I know average people who bought land in Lekki phase one when it was 1m and still live there, same with Banana. There are many people living the good life or faking it but whose net worth is negative or peanuts. We must understand that in Nigeria image is everything especially if you are self employed. Many of those assumed to be millionaires in Nigeria only have the outward appearance because once they are perceived otherwise, they are shut out. Favours and business come because you are perceived as someone of stature. if you live according to your true means while you are struggling, you will almost definitely find it harder to get the favours or the business you are looking for. it is even worse with many of the big names. As an example we heard of a media mogul who was owing a bank, hadnt paid salaries etc. this is the SOP for many of the so called billionaires, they go to banks with buiness plans, obtain huge loans, live a false life of the loans but many dont know a lot of them are knee deep in debt.

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Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by tollyboy5(m): 5:29pm On Aug 30, 2025

wanimo:
This statistics is wrong. $1m is just N1.6b..... people wey dey inside market wey get this money for Nnewi alone pass 2000. Onitsha 2000. Alaba 2000, Ariaria 2000, Idumota 1000 Kano Sabon Gari 5000, Abuja 10,000, .... Etc

I'm certain this is sarcasm 🤣

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by CorperKola: 5:53pm On Aug 30, 2025

See gap between Southie and Eygpt

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by motymop: 6:04pm On Aug 30, 2025

DuBLINGreenb:
Keep lying to yourselves, if I become president, senate leader, or any Cbn governor I will compel CBN to publish the accounts of every body in Nigeria with names redacted

It will be published online and offline so that people like you your minds will come down

You people are too easily misled and deceived, Nigerians are too loquacious, too boastful, too talkative, too pompous, too braggadocios for little or no reason. Especilly people from two tribes that like to fight themselves online but let’s not go into that.

I noticed this since primary school, someone drives to school in a 1999 old mercedes benz and all the dum students assume this persons father must be Dangote or soemone powerful in government, people claimed half the schools in their states only rich men attend those schools. Whereas the full state only has less than 1,000 naira millionaires

Even as a kid I knew these things didn't add up.

Someone dresses well to church every sunday and speaks good english we assume they must be rich, not just rich as in comfortable but rich as in millionaire level rich. Forgetting that dressing good once a week or 4 times a month is not difficult at all.

Someone invests his whole life, begs and borrows for his/her big day I mean into a wedding that lasts 1 hour and hires or borrows 1 or 2 vehicles and we assume this person must live like this on a daily basis.

Someone pours his whole lives savings and takes loans from banks, family and friends to start a shop in Ariaria or any other major market anywhere in Nigeria the total amounts to a-little above $2,500 or 3.8 million naira and because of the cheap chinese made interior decors we assume it must have cost him billions of dollars not even naira

Smh nigerians truly do not know the value/worth of money.

na true talk you talk

Many nigerians they call billionaires, it is blogs that call them billionaires because they know how to package and eat full goat meat of suya

they can even call you billionaire, if you house is filled with gold chair and you have 100 inches tv even though many of these things arent worth much.

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Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Oracle411: 6:39pm On Aug 30, 2025

Ezeama400:
There is great problem in Nigeria .

Dangote is the richest man in Africa, yet Nigeria ended up with 4th position, very far behind Egypt and South Africa

This is why I keep telling people to stop celebrating nonsense.. One of the characteristics of a successful society is the number of people doing well in such society, not celebrating the success of one person, to cap it all, the top three countries even have lesser population than Nigerian..

What a mess !!!

So u believe this junk ? 😃 😀🤣🤣🤣

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by chibecan: 7:34pm On Aug 30, 2025

Great100000:
Source: https://nairametrics.com/2025/08/28/top-15-african-countries-with-highest-no-of-millionaires-worth-1m-and-above-in-2025/16/#split_content

This is far from the fact on ground. Only (nitsha, Lagos, Kano, Portharcourt have more than 10k millionaires

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by lawani(m): 8:07pm On Aug 30, 2025

nedekid:
I understand you, but oga those guys do so much turn over 500m is nothing, maybe a few sales. People that may turn over 20,30,40, 50 forty foot container monthly. From motorcycles, furniture, tvs, kitchen equipment etc. Just biscuits, chocolate bars, nko. What of medicines which are high value products. Imagine a pack of 30 tablets of zeralto costing 50k, then imagine how much it will cost at to fill up a 40foot container. 500m is certainly not much money for a low level importer, when you talk of higher level ones just as how PO was those days, trading capital will be in excess of $5m easy.

They maybe collaborating with each other. Somebody with capital of five million dollars is a company employing many not a small trader. Also a trader definitely has his physical assets visible as real estate which he then uses to secure credit. How many people in the country have real estate worth even one million dollars?. Not to talk of five million

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by kayyyy44: 8:45pm On Aug 30, 2025

Wether you believe the figure or not, one thing is sure south Africa is ahead of Nigeria. A shame cry

Honestly Nigerians are too boastful this type of humbling is needed sometimes

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Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by lawani(m): 8:51pm On Aug 30, 2025

kayyyy44:
Wether you believe the figure or not, one thing is sure south Africa is ahead of Nigeria. A shame
Honestly Nigerians are too boastful this type of humbling is needed sometimes

Nigeria has more high net worth people than South Africa. The problem is that assets that are worth 20k in Nigeria are worth over 100k in South Africa. Nigeria has more private jets than any country in Africa for instance.

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by kingsavage: 9:15pm On Aug 30, 2025

ruggedtimi:
[b]thankGod you mention "Yahoo boy"...illegal money cant be recognized

dey play Invictus obi money was recognized.

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by kingsavage: 9:19pm On Aug 30, 2025

nedekid:
Omo na so them de make money?

lol. I know somebody that made $1m during covid 19 relief fraud cheesy

The guy is in south Africa now .

1 Like

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by kingsavage: 9:24pm On Aug 30, 2025

Gerrard59:
How many yahoo boys have $1m in liquid assets in Nigeria? Do we know what it means to have over 7000 yahoo boys who have $1m in liquid assets?

oga I have seen yahoo boys who made huge money. Mostly during covid 19 pandemic.
$1m is nothing

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by kingsavage: 9:25pm On Aug 30, 2025

NairaMaster1:
I taya ooo.

In Lagos alone you can get 10k bizz men with 2B

I taya. All those people wey dey drive Lamborghini and rolls Royce all over Lagos, na $1m them nor get ?

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Gerrard59(m): 12:40am On Aug 31, 2025

kingsavage:
oga I have seen yahoo boys who made huge money. Mostly during covid 19 pandemic.
$1m is nothing

Wow! Those boys must have made a lot of money. No wonder so many things have been disrupted. The complaints by most average men have doubled. I see why. Yahoo boys have changed everything in the country.

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Cromagnon: 1:54pm On Aug 31, 2025*

Ezeama400:
There is great problem in Nigeria .

Dangote is the richest man in Africa, yet Nigeria ended up with 4th position, very far behind Egypt and South Africa

This is why I keep telling people to stop celebrating nonsense..

Who the hell are you to tell ppl to stop anything
Are you a dictator

One of the characteristics of a successful society is the number of people doing well in such society, not celebrating the success of one person, to cap it all, the top three countries even have lesser population than Nigerian..

What a mess !!!

when did anyone say Nigeria was successful?

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Mrexcell(m): 2:45pm On Aug 31, 2025

franchasng:
How did they get their data?

Nigeria own is very wrong because it's actually more than that figure.

How did they know my worth?

Most young Nigerians of today like myself have most of our savings in digital wallets like crypto, etc. Some in real estate investments.

This data is wrong just like Forbes data mostly based on publicly listed company hares holding

Very true I myself have over $7m in digital currency but no one knows me yet.

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by bdon123(m): 10:10am On Sep 01, 2025

casualobserver:
This is another example of the mistake NIgerians make. It’s something I have said on Nairaland many times. The number of educated people in Nigeria are not that many, the number of truly rich people in Nigeria are not that many. The rich know themselves because they are not many. The educated know themselves because they are not many and went to the same schools. The circle is small because they are not many. To start with how many houses in Lagos and Abuja are worth $1m? How many Nigerians have shares in the stock market? You will be shocked!

Most educated city dwelling NIgerians are not representative of Nigeria. The noise makers are the minority. In politics and as in this example in terms of wealth. You will be shocked how many Nigerians driving Gwagons and range rovers, beg or borrow money to pay school fees or how many of those cars are 2nd hand!

It is why educated people speaking on Arise think they represent NIgerians and are shocked by election results or why we think there are more wealthy NIgerians than there really are.

I have no doubt the spot figure is higher but most of the people who would push the figure higher are here today gone tomorrow kind of millionaires……yahoo boys, politicians, criminally sourced wealth of different flavours, govt contractors etc.

I partly disagree wit u...we hav population n we hav millionaire's in usd alot.wat is population in south africa compared wit naija.we hav many silent billionaires in naija na u no know...Its jst illogical for any country in africa to hav more millionaires in usd than Nigeria. India for example has alot of poor people double that of Nigeria. Bt then india has more millionaires in usd than nigeria becos of their population of over 1.2B

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Gboss247(m): 3:31am On Sep 02, 2025

wanimo:
This statistics is wrong. $1m is just N1.6b..... people wey dey inside market wey get this money for Nnewi alone pass 2000. Onitsha 2000. Alaba 2000, Ariaria 2000, Idumota 1000 Kano Sabon Gari 5000, Abuja 10,000, .... Etc

Networth is measured by asset minus liabilities especially shares of a publicly quoted company and not transaction turnovers.

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Gboss247(m): 3:39am On Sep 02, 2025

Eriokanmi:
Dangote and Adenuga are working for and managing the assets of former Nigerian leaders. Take those assets and investments off their hands and thry become hustlers. Thise SMEs that are unopposed to turn millionaires have been killed by the apc's poor and failed policies, led by Tinubu

While not take those assets from there hands yourself and begin manage?

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Gboss247(m): 3:42am On Sep 02, 2025

Ezeama400:
There is great problem in Nigeria .

Dangote is the richest man in Africa, yet Nigeria ended up with 4th position, very far behind Egypt and South Africa

This is why I keep telling people to stop celebrating nonsense.. One of the characteristics of a successful society is the number of people doing well in such society, not celebrating the success of one person, to cap it all, the top three countries even have lesser population than Nigerian..

What a mess !!!

You celebrate nonsense when you clap people who shout "money na water" just because they are your tribal men. People who preferred spending there money on luxury than production, people chose sole proprietorships over limited liabilities and structures.

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Gboss247(m): 3:44am On Sep 02, 2025

bdon123:
I partly disagree wit u...we hav population n we hav millionaire's in usd alot.wat is population in south africa compared wit naija.we hav many silent billionaires in naija na u no know...Its jst illogical for any country in africa to hav more millionaires in usd than Nigeria. India for example has alot of poor people double that of Nigeria. Bt then india has more millionaires in usd than nigeria becos of their population of over 1.2B

Imaginary silent billionaires

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by Lionessza6(f): 4:54am On Sep 06, 2025

RodgersAkpafu:

what difference does it make though ?
Its just me wondering

Ask the people who get mad every positive news about SA and their only consolation is " it's only whites". I'm sure you have never encountered, you peace loving Nigerian you lol

1 Like

Re: Top 15 African Countries With Highest No Of Millionaires’ Worth $1M And Above by RodgersAkpafu: 5:02am On Sep 06, 2025

Lionessza6:
Ask the people who get mad every positive news about SA and their only consolation is " it's only whites". I'm sure you have never encountered, you peace loving Nigerian you lol

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