3,000 Nigerians lost millionaire status in 10 years – Report

Nigeria, Africa’s largest economy, experienced negative millionaire growth of 30 per cent from 2012 to 2022, resulting in 2,949 individuals losing their millionaire status in one decade. This is according to the 2023 Africa Wealth Report compiled by Henley and Partners. According to the report, Africa’s ‘Big 5’ wealth markets include South Africa, Egypt, Nigeria,