Lagos is the 4th city with most millionaires in Africa — Report

Nigeria’s commercial hub, Lagos, has been ranked as the fourth city with the most millionaires in Africa, according to a report by investment migration consultancy firm, Henley & Partners.

The Henley Global Citizens Report 2022 Q3 ranked Lagos behind Johannesburg, South Africa (1st), Cairo, Egypt (2nd) and Cape Town (3rd).

According to the report, there are three billionaires (in dollars) in Lagos, 20 centi-millionaires (at least $100m), 330 multimillionaires (at least $10m) and 6,300 individuals worth at least $1 million.

Meanwhile, Lagos and Abuja, the capital city of Nigeria, were ranked among the top 25 cities with the fastest-growing millionaire populations worldwide in 2022.

Abuja has no billionaires, 3 centi-millionaires, 30 multi-millionaires, and 800 individuals worth at least $1 million.