Nigeria's four newest billionaires: Tony Elumelu, Cletus Ibeto, Benedict Peters, & Akanimo Udofia

Tony Elumelu, Chairman of Heirs Holdings, Chairman of Transcorp, and Chairman of UBA Group

Nigeria has four new billionaires, according to wealth research done by Ventures Africa. This brings the total number of Nigerians represented on the list to 23, giving Nigeria the largest concentration of billionaires in Africa.

Cletus Ibeto ($3.7 billion), founder of multi-faceted Ibeto Group; Benedict Peters ($2.7 billion), an oil magnate; Tony Elumelu ($1.6 billion), a serial investor and philanthropist; and Canada-based oil trader Akanimo Udofia ($1 billion), are the new faces on the Ventures Africa Rich List.

Read more: Ventures Africa | Nigeria’s Four Newest Billionaires.