Nigeria has maintained its position as the fourth African country with the highest number of dollar millionaires, according to the 2025 Africa Wealth Report by Henley & Partners in partnership with New World Wealth.
The report estimates that Nigeria currently has about 7,200 dollar millionaires, 20 centi-millionaires (individuals with assets worth at least $100 million), and three billionaires.
Despite its ranking, Nigeria has experienced a significant decline in its wealthy population, recording a 47 percent drop in the number of millionaires since 2015.
South Africa remains Africa’s wealthiest country by millionaire population, with approximately 41,100 millionaires, 112 centi-millionaires, and eight billionaires. Egypt follows in second place with 14,800 millionaires, while Morocco ranks third with 7,500 millionaires, narrowly ahead of Nigeria.
Kenya completes the top five, with about 6,800 millionaires, though it has no billionaires listed in the report.
Other African countries among the top 10 include Mauritius, Algeria, Ghana, Namibia, and Ethiopia.
The report noted that some countries, including Tunisia and the Democratic Republic of Congo, were excluded due to a lack of reliable wealth data.
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