Forbes releases 2018 list of Africa's Richest billionaires, Aliko Dangote retains position as richest African for the eight time followed by Mike Adenuga

Forbes magazine has released its 2018 list of Africa's Richest billionaires.

Nigeria’s Aliko Dangote retained his position as the richest man in Africa for eight years straight. He, however, lost almost $2bn compared to his last year’s worth.

According to the list, Aliko's networth currently stands at $10.3 billion.

Telecommunication's magnate, Mike Adenuga, was number 2 on the list with a $9.2 billion worth. Folorunsho Alakija was one of the billionaires who suffered a drop in their net worth between last year and this year, as she held No 19 on the 20-man list. She is currently worth $1.1 billion.

Nigeria’s cement mogul Abdulsamad Rabiu, who runs and owns the BUA Group,featured on the list for the first time since 2015, with his networth standing at $1.6 billion.

See the list below