{"id":215134,"date":"2025-08-01T21:27:15","date_gmt":"2025-08-01T21:27:15","guid":{"rendered":"https:\/\/www.withinnigeria.com\/entertainment\/?p=215134"},"modified":"2025-08-01T21:40:13","modified_gmt":"2025-08-01T21:40:13","slug":"mike-adenuga-dethroned-as-nigerias-second-richest-man-in-latest-billionaire-ranking","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/entertainment\/2025\/08\/01\/mike-adenuga-dethroned-as-nigerias-second-richest-man-in-latest-billionaire-ranking\/","title":{"rendered":"Mike Adenuga dethroned as Nigeria\u2019s second richest man in latest Billionaire ranking"},"content":{"rendered":"

Renowned Nigerian billionaire and telecoms magnate Dr. Mike Adenuga has officially lost his long-held position as the second richest man in Nigeria, according to a new ranking by the Forbes Real-Time Billionaires Index.<\/p>\n

The billionaire now sits behind Abdul Samad Rabiu, founder and chairman of the BUA Group, who reclaimed the second position after a sharp increase in his net worth.<\/p>\n

\"\"
Abdulsamad Rabiu<\/figcaption><\/figure>\n

Rabiu\u2019s fortune jumped by $365 million in a single day, boosting his estimated wealth to $6.3 billion and positioning him at 572nd on the global billionaire chart\u2014six places ahead of Adenuga, who currently ranks 578th.<\/p>\n

The updated figures reflect real-time data tracked by Forbes, which recalculates billionaires’ net worths based on daily market activity, share price fluctuations, and currency valuation. Rabiu\u2019s resurgence comes after strong investor interest and performance in BUA Cement and BUA Foods, both key pillars of his growing empire.<\/p>\n

Adenuga, known for his telecom company Globacom and oil firm Conoil, has experienced a steadier valuation in recent months. His assets, while still substantial, have not recorded the rapid growth seen in Rabiu\u2019s industrial ventures, which helped push the latter ahead in the national rankings.<\/p>\n

Aliko Dangote<\/a>, founder of Dangote Group, remains Nigeria\u2019s richest individual with a net worth of approximately $24.5 billion, despite a slight $48 million drop in the most recent update.<\/p>\n

\"\"
Dangote<\/figcaption><\/figure>\n

This shift in Nigeria\u2019s billionaire rankings is significant, as Rabiu\u2019s return to the number two spot underscores the rising economic clout of the manufacturing and consumer goods sectors in Africa\u2019s largest economy. Industry analysts have noted Rabiu\u2019s strategic moves in diversifying and expanding his business footprint as key to his growing financial stature.<\/p>\n

Meanwhile, Mike Adenuga\u2019s dip marks a rare moment in his decades-long dominance in Nigeria\u2019s business elite\u2014a reminder that even among billionaires, fortunes can shift with the markets.<\/p>\n

As Nigeria\u2019s economic landscape continues to evolve, the battle among its top tycoons highlights both the volatility and competitiveness of elite wealth in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Renowned Nigerian billionaire and telecoms magnate Dr. Mike Adenuga has officially lost his long-held position as the second richest man in Nigeria, according to a new ranking by the Forbes Real-Time Billionaires Index. The billionaire now sits behind Abdul Samad Rabiu, founder and chairman of the BUA Group, who reclaimed the second position after a […]<\/p>\n","protected":false},"author":28,"featured_media":215138,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"2","single_blog_custom":"94000","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"1","zoom_button_out_step":"3","zoom_button_in_step":"3","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"footnotes":""},"categories":[3,4],"tags":[33360,6144,29373,22414],"class_list":["post-215134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-celebrities","category-news","tag-abdulsamad-rabiu","tag-aliko-dangote","tag-forbes-billionaire-list","tag-mike-adenuga"],"yoast_head":"\nMike Adenuga dethroned as Nigeria\u2019s second richest man in latest Billionaire ranking<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/entertainment\/2025\/08\/01\/mike-adenuga-dethroned-as-nigerias-second-richest-man-in-latest-billionaire-ranking\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mike Adenuga dethroned as Nigeria\u2019s second richest man in 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See full profile on Within Nigeria's TEAM PAGE","url":"https:\/\/www.withinnigeria.com\/entertainment\/author\/samdave\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/posts\/215134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/comments?post=215134"}],"version-history":[{"count":3,"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/posts\/215134\/revisions"}],"predecessor-version":[{"id":215139,"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/posts\/215134\/revisions\/215139"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/media\/215138"}],"wp:attachment":[{"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/media?parent=215134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/categories?post=215134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.withinnigeria.com\/entertainment\/wp-json\/wp\/v2\/tags?post=215134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}