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Full List: Forbes 2024 Top 20 African Billionaires

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The president of Dangote Group, Aliko Dangote, has retained his position as the richest person in Africa with a net worth of $13.9 billion, according to the 2024 Forbes list of 20 of Africa’s Richest billionaires.

While Dangote retained the top spot, his ally, Femi Otedola, who is Chairman of Geregu Power Plc, ranked among the 20 richest persons in Africa.

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Otedola last appeared on the Forbes Africa list in 2017 when he held a controlling stake in Forte Oil.

Forbes in its list released yesterday said the fortunes of Africa’s wealthiest people rebounded slightly in the past 12 months, reversing the decline in their fortunes from a year ago.

READ ALSO: Full List Of Forbes’ 25 World Billionaires In 2023

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On Otedola, Forbes said, “Otedola phased out his oil investments during a government push to privatise the country’s energy business in 2013, using a Forte subsidiary to purchase Geregu, a public power generation plant.

“He owned about 90 per cent of Geregu when it was listed on the Nigerian exchange’s Main Board in 2022, but has since sold shares to institutional investors, which include Afreximbank’s Fund for Export Development in Africa and the State Grid Corporation of China.

“His 73 per cent stake in Geregu is worth more than $850 million, about three-quarters of his $1.1 billion fortune, which puts him at No. 20 on the list.

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“After taking Otedola’s comeback into account, Africa’s billionaires dipped slightly, but still fared better than the decline of four per cent last year, when African markets faded in sync with equity values around the world.

“This year, African equities joined a late-year global rally, with the S&P All Africa index rising 10 per cent in the final two months of 2023 but still ended down more than 9% in the 12 months through January 8, 2024,” Forbes stated.

Below is the list of the top 20 richest billionaires in Africa:

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READ ALSO: Messi Tops Forbes’ Highest-paid Athlete List For 2022 [Full List]

1. Aliko Dangote – $13.9 billion
2. Johann Rupert & family – $10.1 billion
3. Nicky Oppenheimer & family – $9.4 billion
4. Nassef Sawiris – $8.7 billion
5. Mike Adenuga – $6.9 billion
6. Abdulsamad Rabiu – $5.9 billion
7. Naguib Sawiris -$3.8 billion
8. Mohammed Mansour – $3.2 billion
9. Roos Bekker – $2.7 billion
10. Patrice Motsepe – $2.7 billion
11. Issad Rebrab & family – $2.5 billion
12. Mohammed Dewji – $1.8 billion
13. Strive Masiyiwa – $1.8 billion
14. Aziz Akhannouch & family – $1.7 billion
15. Othman Benjelloun & family – $1.4 billion
16. Youseff Mansour – $1.3 billion
17. Yassen Mansour – $1.2 billion
18. Christoffel Wiese – $1.2 billion
19. Michiel Le Roux – $1.1 billion
20. Femi Otedola – $1.1 billion

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World Ocean Day: HOMEF Wants An End To Human’s Exploitative Relationship With The Ocean

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By Joseph Ebi Kanjo 

Health of Mother Earth Foundation (HOMEF) has called for an end to human’s exploitative, violent, and destructive relationship with the ocean even as the world marks World Ocean Day today, 8 June, 2025.

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In a statement issued by Kome Odhomor, Media/Communications Lead, HOMEF, to mark this year’s World Ocean Day with the theme: ‘Wonder: Sustaining What Sustains Us,’ the ecological think tank organisation said Ocean is not just a water but an ecosystems which “supply a substantial amount of oxygen to the atmosphere and offer various services that ensure the survival of all species on Earth.

“Climate change, primarily caused by human activities, is impacting the ocean. Dead zones are proliferating, pollution from minerals and fossil fuel extraction and production processes is occurring, unsustainable industrial fishing practices are occurring, intentional waste dumping is occurring, and disturbances of the ocean floor and seabeds are among a long list of destructive activities.

READ ALSO: World Environment Day: CEEAI Partners HOMEF For A Day Event

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“As ocean surface temperatures increase, global warming will also rise. Therefore, protecting the ocean from these forms of degradation would ultimately safeguard the Earth. Let’s protect the ocean and force others to respect it because we are the ocean; we are part of the ocean family.”

Odhomor, in the statement made available to INFO DAILY on Sunday, quoted the Executive Director of HOMEF, Dr. Nnimmo Bassey, as saying the World Ocean Day is celebrated annually on 8 June to underscore the immeasurable importance of the world’s ocean and garner support for their protection.

Bassey in the statement lamented that despite the importance, the ocean and other water bodies are continuously subjected to a barrage of assaults at local, national, and international levels.

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READ ALSO: HOMEF Decries Alarming Rate Of Malnutrition, Food Insecurity

“The concept that the ocean cycles itself and acts as a greenhouse gas sink has been misconstrued to mean that the ocean can filter and clean itself no matter what is dumped in it.

“The ocean and other waterbodies have become dumpsites of all sorts, polluting and extreme exploitation.

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“There are a lot of unusual activities going on in our waters that must not be allowed to continue if we want a healthy ocean and planet,” he noted.

Bassey further stated that “corporate interests have been substituted for national and people-centred interests, as communities that live along the coasts, bear the brunt of such abnormalities. Now is the time for all to rise to the occasion to protect the ocean. The continued burning of the Ororo Oil well over a period of five years is a sad commentary on ecocide on our waters.”

READ ALSO: World Earth Day: HOMEF Holds Climate Justice Assembly, Tasks N’Delta Activists On Unity

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Also lending his voice, Stephen Oduware, a Programme Manager with HOMEF and Coordinator of the Fishnet Alliance, a network of fishers across Africa, emphatically noted that the world’s fisheries depend on the ocean.

The two major sides of the ocean bordering Africa – the Atlantic and Indian, along with their associated gulfs, are experiencing shortfalls in fishing due to vested and powerful interests. Industrial fishing, including the use of bottom trawlers, is partly responsible for unsustainable fishing and illegal, unreported, and unregulated fishing in the region.

“These practices not only harm fisheries but also harm the ocean and create imbalances in the ecosystems the ocean supports. These unchecked activities in the territorial waters of Africa must stop. Fishers of the world unite,” he noted.

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Edo Rep Member Distances Self From Cultism, Says Allegation Politically Motivated

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By Joseph Ebi Kanjo

Hon. Marcus Onobun, member representing Esan West, Esan Central and Igueben Federal Constituency in the House of Representatives, has described as false the rumours making the rounds that he’s involved in Cult-related activities in Iruekpen, Esan West Local Government Area of Edo State.

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The Edo rep member, in a disclaimer titled: ‘Re: Disclaimer on Alleged Cult-related Issues in Iruekpen’, which was made available to INFO DAILY on Sunday, said the allegations of his involvement in cultism were not only “false and baseless, unfounded but they also appear to be politically motivated, attempts to tarnish my hard-earned reputation, distraction from the developmental strides we are making, and undermine the trust and confidence the good people of Iruekpen and beyond have reposed in me.”

He stressed, “For the avoidance of doubt, I am not directly or indirectly involved in cultism nor have I ever supported, encouraged, financed, or participated in any activity that promotes it in any form whatsoever.”

READ ALSO: Police Arrest 28 Suspected Cultists In Edo

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Hon. Onobun, who stated that the last time he visited Edo State was 22nd April, 2025, noted that the allegation was to “lay a foundation for their wicked and clandestine plan to silence the opposition.”

He explained that though he got information from a reliable source that there was a clash in the community (Iruekpen) between two indigenes, such clash was never bear his residence but in a brothel.

“I am a firm believer in the rule of law, democratic principles, and peaceful co-existence,” he said.

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The Edo rep member, while stating that security and safety of his constituents top is priority, urged the “media and the general public to exercise due diligence and verify facts before spreading information capable of causing panic and reputation damage.”

READ ALSO: Alleged Cultism: NBA Warns Against Suspects’ Rights Violation In Edo

The security and safety of our people tops my priorities as a federal lawmaker, as no development sees the light of the day in an unsafe environment, thus, the recently commissioned Police station in Iruekpen community,” he added.

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Onobun urged “those behind these malicious fabrications,” to “desist from the politics of character assassination,” noting that “our community deserves leaders and citizens who promote unity, progress, and constructive dialogue not divisiveness and falsehood.”

He added: “I remain committed to the service of my people and to the peace, growth, and development of Iruekpen as my immediate community and the entire federal constituency at large. No amount of smear campaigns will deter me from fulfilling my mandate and standing for truth, justice, and good governance.”

 

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Democracy Day: FG Declares June 12 Public Holiday

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The Federal Government has declared Thursday, 12th June, 2025 as Public Holiday in commemoration of this year’s Democracy Day celebration.

Permanent Secretary in the Ministry of Interior, Dr Magdalene Ajani in a statement on Sunday in Abuja said the Minister of Interior, Dr Olubunmi Tunji-Ojo, made the declaration on behalf of the Federal Government.

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The minister congratulated Nigerians on the occasion of 26 years of uninterrupted civil rule.

READ ALSO:June 12: Jonathan, Others Mount Pressure On Tinubu To Reinstate Fubara

He said; “June 12 represents our historic journey to building a nation where truth and justice reign and peace is sustained and our future assured.

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“The last 26 years tells the story of our resilience, strength and courage and a hope Renewed than ever.”

Noting that democracy is sustained with open doors for further improvement, the minister reiterated the commitment of the Renewed Hope government of President Bola Tinubu to the universal value of democracy, based on freely-expressed will of the people in determining Nigeria’s political, economic, social and cultural systems.

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