The number of Nigerians worth at least $1 million in liquid wealth climbed to 8,100 in June 2026, up from 7,200 a year earlier, the country’s first annual increase in its millionaire population since 2021.
The 12.5 percent rise is recorded in the newly released 2026 Africa Wealth Report, produced by global wealth intelligence firm New World Wealth in partnership with Henley & Partners. It marks a break from four straight years of decline, during which Nigeria lost about 1,600 dollar millionaires in 2024 alone and a further 200 in 2023, as the naira weakened sharply against the dollar.
Andrew Amoils, Head of Research at New World Wealth, attributed the rebound mainly to a stronger naira and steady growth in new businesses. He also noted that, over a longer stretch, Nigeria’s currency has performed poorly.
Even with this year’s gain, Nigeria’s millionaire count remains far below where it stood a decade ago. The country had roughly 15,000 dollar millionaires in 2013; today’s 8,100 represents a decline of nearly half over that period. In other words, this year’s increase is a partial recovery from a much deeper, longer-running fall.
Nigeria’s population of ultra-wealthy individuals also grew slightly. The number of centi-millionaires, people worth more than $100 million, rose to 22 from 20 the previous year. The country’s billionaire count stayed unchanged at three.
Despite the improvement, Nigeria remains fourth among African countries by number of dollar millionaires, behind South Africa with 48,200 dollar millionaires, Egypt with 15,100 dollar millionaires, and Morocco boasting 8,300 dollar millionaires. Across the continent as a whole, the report counted just over 127,000 dollar millionaires, including 374 centi-millionaires and 28 billionaires.
The figures come as Nigeria’s broader economy has shown signs of steadier growth. Official data from the National Bureau of Statistics showed real GDP expanding 3.89 percent year-on-year in the first quarter of 2026, up from 3.13 percent in the same period of 2025, growth driven mainly by non-oil sectors such as telecommunications, trade and financial services.
New World Wealth expects Africa’s wealth creation to accelerate over the coming years, projecting particularly strong growth in “lifestyle destinations” across the continent that combines investment opportunity with quality of life.
The number of Nigerians worth at least $1 million in liquid wealth climbed to 8,100 in June 2026, up from 7,200 a year earlier, the country’s first annual increase in its millionaire population since 2021.
The 12.5 percent rise is recorded in the newly released 2026 Africa Wealth Report, produced by global wealth intelligence firm New World Wealth in partnership with Henley & Partners. It marks a break from four straight years of decline, during which Nigeria lost about 1,600 dollar millionaires in 2024 alone and a further 200 in 2023, as the naira weakened sharply against the dollar.
Andrew Amoils, Head of Research at New World Wealth, attributed the rebound mainly to a stronger naira and steady growth in new businesses. He also noted that, over a longer stretch, Nigeria’s currency has performed poorly.
Even with this year’s gain, Nigeria’s millionaire count remains far below where it stood a decade ago. The country had roughly 15,000 dollar millionaires in 2013; today’s 8,100 represents a decline of nearly half over that period. In other words, this year’s increase is a partial recovery from a much deeper, longer-running fall.
Nigeria’s population of ultra-wealthy individuals also grew slightly. The number of centi-millionaires, people worth more than $100 million, rose to 22 from 20 the previous year. The country’s billionaire count stayed unchanged at three.
Despite the improvement, Nigeria remains fourth among African countries by number of dollar millionaires, behind South Africa with 48,200 dollar millionaires, Egypt with 15,100 dollar millionaires, and Morocco boasting 8,300 dollar millionaires. Across the continent as a whole, the report counted just over 127,000 dollar millionaires, including 374 centi-millionaires and 28 billionaires.
The figures come as Nigeria’s broader economy has shown signs of steadier growth. Official data from the National Bureau of Statistics showed real GDP expanding 3.89 percent year-on-year in the first quarter of 2026, up from 3.13 percent in the same period of 2025, growth driven mainly by non-oil sectors such as telecommunications, trade and financial services.
New World Wealth expects Africa’s wealth creation to accelerate over the coming years, projecting particularly strong growth in “lifestyle destinations” across the continent that combines investment opportunity with quality of life.
