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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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Ossiomo Restores Power To Customers After Barely Two Weeks Outage

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Ossiomo Power Plant has restored power to its customers after barely two weeks of blackout. The Guardian, however, learnt that the restoration covers not all customers but those on the Sapele Road axis of Benin and most especially customers on the power plant’s 33kva.

Ossiomo, an independent power generation and distribution firm was floated in 2020 under the previous government in the state to break the monopoly of Benin Electricity Distribution Company (BEDC). It generates 95MW of electricity which it supplies to government buildings, Edo State Government House, Edo NUJ secretariat, private organisations, streetlights, among others.

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The power plant, however, went off September 1, 2025, due to ownership tussle between the Nigeria partners —Ossiomo— and its Chinese partners —Jiangsu Communication Clean Energy Technology (CCETC). CCETC said “instruction to shutdown was because we lost lots of money and did not get any return on investment,” adding that “all the $20m investment was done by us including the distribution lines.”

READ ALSO: CAF Awards 2024 Final Nominees Revealed [Full list]

The Nigeria partners —Ossiomo, however, refuted their claims, alleging that the Chinese partners, having seen how lucrative the business is, “went to some quarters and raised some issues probably thinking they can manoeuvre us with the help of some big persons, so that they can use their machines to generate power and sideline us but this is not possible.”

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Apologising to customers during an interactive session with journalists and customers, weekend, representatives of the management of Ossiomo, Engr. Festus Evbuomwan, while emphasising that all their Chinese partners’ claims were false, said the management was not aware of the $20m investment the Chinese partner claimed, adding: “when they generate power, we sell and pay them, so I don’t know at what point we owe them.”

He added: “They have been also saying that they have not been receiving anything, but I want to tell you unequivocally that first, the partners run a joint account where their investment is going into. More so, The Chinese partners have received over ₦2bn so far for the power they generate with their machines. When they generate the power, we sell and pay them.”

READ ALSO: Ossiomo Power Project: Delayed Agreement Signing Due To Non-Agreement Of Oprational Processes-BEDC

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According to him, trouble started when several attempts to sideline Ossiomo by the Chinese partners failed. He added that they (Chinese partners) then came up with a request of payment of ₦185m to two Chinese staff not known to the management. He said Ossiomo management resisted payment to this ghost staff, and this led to the Chinese partners shutting down the plant totally on September 1, 2025.

Evbuomwan, who said Ossiomo has procured its own turbines and has started power generation and distribution, explained further, “We have purchased turbines, and one has started working. They are working on the second one, so, by the time our five turbines start working we will be in full capacity. Even with that, those connected to the government line may not be reached immediately. This is because the government bought the poles and contracted the wiring, and we cannot force the government to do our bid. Also, we are making efforts to site 33kva transformer along Airport Road and Lagos Road as soon as possible, so that our customers there will get power.”

Evbuomwan, while urging the “government to encourage the Nigerian citizens to invest and not to work against local investors,” added: “I must again, at this juncture, make it clear that the Edo State government does not have a stake in the company.”

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He used the opportunity to appeal to the “government to let us supply power to customers through their Lines. I want to emphasise that Ossiomo is not completely shut down.”

 

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Police Rescues Kidnap Victim, Foils Attempt To Abduct Three Others In Edo

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Operative of the Edo State Police Command has rescued a kidnap victim, Elohor Osifoh, who was abducted on September 10. 2025.

This was contained in a statement issued by the command’s spokesperson, Moses Yamu, and made available to newsmen in Benin on Sunday.

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Yamu in the statement disclosed that operatives of the command also foiled abduction of three others who were traveling to Akwa Ibom through the state.

The statement reads, “In the early hours of 13th September 2025, at about 02:30hrs, operatives of the Okada Division led by CSP Opatoyinbo John, while on a routine patrol at Morgan and Isiuwa slope along the Benin–Lagos expressway, responded swiftly to a distress call regarding a kidnapping attempt.

READ ALSO:Edo Police Arrest Doctor Over Woman’s Death During Caesarean Section

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Armed hoodlums had barricaded the highway with woods and opened sporadic gunfire in an attempt to intercept and abduct the occupants of a Toyota Sienna vehicle with registration number KUJ 342 CU (Abuja).

“The vehicle, driven by one Nana Aghogho ‘M’, aged 51 years, was conveying fingerling fish from Lagos State to Akwa Ibom State with two passengers on board.

“On sighting the gunmen, the operatives engaged them in a fierce exchange of fire, forcing the hoodlums to abandon their criminal mission and flee into the nearby bush. The driver and his two passengers, Oseghale Mathias ‘M’ (40yrs) and John Edobor ‘M’ (24yrs), were rescued unhurt.

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“The barricades placed by the hoodlums were immediately cleared, thereby restoring free flow of traffic and ensuring the safety of other road users.

READ ALSO:Police Arrest Suspected Illicit Drugs Dealer In Delta

“In a related development, operatives of the Ekpoma Divisional Headquarters led by SP Nelson Igbinoba today rescued and reunited with the family, a female victim Elohor Osifoh earlier kidnapped on 10th September, 2025 after days of relentless bush combing rescue operation.”

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Yamu stated that the Commissioner of Police Monday Agbonika, commended the gallantry and prompt response of the operatives, while assuring members of the public of the Command’s resilience and commitment to rid the state of criminal elements.

He said the CP further urged road users to remain vigilant and report suspicious movements to the nearest police formation for swift action.

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Resident Doctors Suspend Warning Strike After Two Days, Resume Work Nationwide

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The Nigerian Association of Resident Doctors (NARD) has suspended its nationwide warning strike just two days after it commenced, bringing temporary relief to the country’s overstretched public health sector.

The strike, which commenced on Friday, was suspended on Saturday night, with members directed to resume duties on Sunday.

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President of the association, Dr. Tope Osundara, confirmed the development in a message on Saturday night.

Some of our demands have been met. The government has promised to look into other issues. Strike suspended; resumption to work tomorrow (today). We did this as a sign of goodwill and to assist Nigerians who are seeking healthcare in our various facilities,” he said.

READ ALSO:JUST IN: Resident Doctors Begin Five-day Warning Strike Today

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As of the time of filing this report, details of the specific demands met had not been disclosed.

The strike had caused service disruptions in public hospitals nationwide, leaving consultants and other categories of health workers to manage increased workloads, resulting in delays for patients.

NARD had embarked on the industrial action to press home several demands, including immediate payment of the 2025 Medical Residency Training Fund, settlement of five months’ arrears from the 25–35 per cent Consolidated Medical Salary Structure (CONMESS) review, and clearance of longstanding salary backlogs.

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Other demands include payment of the 2024 accoutrement allowance arrears, prompt disbursement of specialist allowances, and restoration of the recognition of West African postgraduate membership certificates by the Medical and Dental Council of Nigeria.

The association also called on the National Postgraduate Medical College of Nigeria to issue membership certificates to all qualified candidates, implement the 2024 CONMESS, resolve outstanding welfare issues in Kaduna State, and address the condition of resident doctors at Ladoke Akintola University of Technology Teaching Hospital, Ogbomoso.

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