Due to the Nigerian stock market’s negative third-quarter performance, fifteen billionaires in Nigeria have lost a combined total of N799.1 billion, or 11.9% of their fortune. The stock market’s poor performance was to blame for the billionaires’ losses.
The billionaires on this list hold sizable stakes in at least 30 of the top companies on the Nigerian stock market (NGX 30).
HOW MUCH NIGERIA BILLIONIARES LOST IN Q3 2022.
N441.66 billion belongs to Aliko Dangote. N336.82 billion belongs to Abdulasamadu Rabiu (BUA foods and BUA cements). N8.63 billion Jim Ovia (Zenith Bank). N2.79 billion belongs to Olufemi Otedola. N2.21 billion belongs to Tunde Hassan-Odukale. N1.82 billion belongs to Herbert Wigwe (Access Bank)
N1.38 billion Mike Adenuga (Conoil, Julius Berger, and Sterling Bank). Tony Elumelu – N1.07 billion (UBA)
Gbenga Oyebode – N1.02 billion (Okomu Oil). Wole Oshin – N780.5 million (Custodian Investment). Eguasa P.A – N262.1 million (Okomu Oil). Olakunle Alake – N245.1 million (Dangote Cement and Dangote Sugar Refinery)
Ifeoma Esiri – N154.4 million (Stanbic IBTC Holdings). Ebenezer Onyeagwu – N136.2 million (Zenith Bank). Adaora Umeoji – N119.9 million (Zenith Bank).