Lagos Ranked Africa’s 4th Wealthiest City

A recently released ranking report has named Lagos as Africa’s 4th wealthiest city.

The Africa Wealth Report 2022, released by Henley & Partners, in partnership with New World Wealth, averaged Lagos’ total private wealth  to around $97 billion.

The report raked Johannesburg and Cape Town in South Africa first and second respectively, while Cairo, Egypt was ranked third.

It also ranked Nigeria the third wealthiest country with a total private wealth of $228 billion and 10,000 millionaires, behind South Africa and Egypt at first and second place respectively.

Lagos is the the most populous city in Africa while Nigeria is the continent’s largest economy.

On a per capita basis, Nigeria ranked 11th on the list with $1,100, while Mauritius was top on the list with $34,500.