The New World Wealth's Africa Wealth Report for 2023 ranked Lagos 4th among African cities with the most dollar millionaires, below South Africa's Johannesburg and Cape Town, and Egypt's Cairo. Four of the cities in the top ten are South African.
Figures as of December 2022 show that Nigeria's millionaires decreased by 30% between 2012 and 2022, indicating a significant shift in the dynamics of wealth. Mauritius saw a noteworthy increase of 69%, with Kenya recording a 30% growth.