Maryam Babangida News

The Mercedes Maybach is one of the auto brands popular amongst Nigeria's top one percent

In Lagos, Nigeria, the 1% takes stock

Guests sashayed through the tent doors into a scene of surreal opulence. At the far end of the tent, engulfed by servants, courtiers, national politicians and guards with wires in their ears, the celebrant perched beside his wife on a throne covered with white faux fur, his every move broadcast on flat-screens arrayed around the tent walls.

Folorunsho Alakija of Nigeria is the richest black woman in the world, ahead of Oprah Winfrey, with a personal fortune of $7.3bn from oil and gas. Photograph: Bennett Raglin/Getty Images

Nigerian billionaires dominate African rich list with £49B ($78B) between them

Nigeria has more billionaires than any other country in Africa, including the continent’s wealthiest man and the world’s richest black woman, according to a ranking published this week.