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Nigerian Billionaires Record Mixed Fortunes in August 2025 Share Market

Nigeria’s wealthiest investors witnessed sharp fluctuations in their fortunes in August 2025, as stock price movements on the Nigerian Exchange (NGX) produced significant gains for some and steep losses for others.

According to data from Nairalytics, the biggest winner during the month was Abdul Samad Rabiu, founder of BUA Group, whose wealth surged by ₦2.7 trillion on the back of strong share price performance in his companies.

Femi Otedola, chairman of Geregu Power, also recorded a positive return, raking in about ₦1.05 billion.

However, not all of Nigeria’s billionaires fared well. Aliko Dangote, Africa’s richest man and chairman of Dangote Industries, saw his fortune dip by a staggering ₦128.7 billion, reflecting pressure on Dangote Cement and other listed subsidiaries.

Tony Elumelu, chairman of Heirs Holdings and United Bank for Africa (UBA), also lost ₦21 billion, while Jim Ovia, founder of Zenith Bank, recorded a decline of ₦37 billion.

Mike Adenuga, chairman of Globacom and Conoil, suffered the smallest loss on the list, with his shareholdings falling by ₦2.42 billion.

The divergent performances highlight the volatility of the Nigerian stock market, where company-specific fundamentals, sectoral challenges, and macroeconomic conditions continue to shape investor fortunes.

Analysts note that while the surge in BUA shares significantly boosted Rabiu’s net worth, the losses incurred by Dangote and other investors reflect tightening liquidity, fluctuating demand, and market corrections in key sectors.

The mixed fortunes underscore the shifting dynamics among Nigeria’s billionaire class, as market forces continue to reshape wealth distribution in Africa’s largest economy.

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