Only 9,800 people out of Nigeria’s over 200 million population are worth $1 million and above
The number of high-net-worth individuals in Africa’s largest economy, Nigeria, fell by 30 per cent in the past decade , a new report has revealed.
According to the 72-page report, South Africa tops the list of the top 10 wealthiest countries in Africa in terms of resident high-net-worth individuals by some margin. “Namibia’s new residence by investment offering positions it as a future potential rival as well,” the report said.The report explained that the total high-net-worth individual numbers in Africa have fallen by 12 per cent over the past decade under review .
According to the report, the number of individuals who are worth over $1 million in Africa is pegged at 138,000. Of this figure, only 328 people in the continent are worth more than $100 million and just 23 are worth more than $1 billion within the last decade.
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