Nigeria, the most populous nation in Africa, boasts some of the wealthiest kings on the continent. These traditional leaders govern extensive kingdoms and wield substantial influence, encompassing both cultural and economic realms. Their wealth is derived from diverse sources such as investments, inherited assets, and various business ventures.
Here, we delve into the lives of the 10 richest kings in Nigeria, exploring their sources of wealth, their net worth, and the enduring influence they hold within their respective communities
Oba Obateru Akinrutan
Oba Obateru Akinrutan is the Olugbo of Ugbo, the Paramount King of Ugbo Kingdom, in Ilaje local government area of Ondo State, located in southwestern Nigeria.
The Olugbo isn’t just the wealthiest king in Yoruba land; he holds the title of the richest king in all of Nigeria, thanks to his extensive range of investments.
In 1981, Obateru founded Obat Oil, which has since expanded to comprise over 50 gas stations spanning Nigeria’s six geopolitical zones. Additionally, the company possesses one of Africa’s largest tank farms—a modern storage facility with a capacity to store 65 million liters of petroleum products.
Forbes estimated his net worth as US$300 million. He has a custom built 2012 Rolls-Royce similar to that of Queen Elizabeth II of England.
Obateru is the first black person to buy the 2014 model of Bentley automobile.
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Oba Adeyeye Ogunwusi Enitan
Oba Adeyeye Ogunwusi Enitan, the Ooni of Ife, is the third richest king in Nigeria. He is a very influential king in Yoruba land. You must indeed accord him some respect when addressing him.
Apart from the authority and power he holds in Yoruba land, the Ooni is also rated as one of the most respected rulers in the world.
Oba Ogunwusi is the Chancellor at the University of Nigeria, Nsukka as well as an accomplished businessman with holdings in the real estate industry in Nigeria and beyond with net worth of $70 million.
He lives a lavish lifestyle. He is always in the news; travelling touring and receiving important guests. He is always seen in white regalia, and followed by a large procession.
he Ooni of Ife owns many cars, particularly expensive foreign models. One of the grandest of all in his fleet of cars is his Rolls-Royce Phantom (2011 model).
Aside from Rolls-Royce, he also owns a Mercedes-Benz S550 and two Bentleys.
Oba Ewuare II Ogidigan
Oba Ewuare II Ogidigan is the traditional ruler of the Benin Kingdom. He wields an enormous deal of power, authority, and influence. He was crowned the Oba of Benin on 20 October 2016. He is the 40th Oba, a title created for the Head of State (Emperor) of the Benin Empire at some time between 1180 and 1300.
Oba Ogidigan holds a degree in Economics from the University of Wales, UK, and a Master’s degree in Public Administration from Rutgers University Graduate School, New Jersey, USA.
The Oba of Benin is also Nigeria’s ambassador to some foreign nations. He lives in a beautiful palace built to the standards of a world-class monarch.
Oba Ewuare II Ogidigan is one of Nigeria’s top 10 richest kings as his net worth amounts to about $60 million.
In addition to his other cars, the Oba of Benin owns a Rolls-Royce Phantom (2016 model), which is worth over N150 million.
Nnaemeka Alfred Ugochukwu Achebe
Nnaemeka Alfred Achebe CFR, is a traditional ruler and the 21st Obi of Onitsha, in Anambra State, South-Eastern Nigeria.
He is chancellor of Ahmadu Bello University since 2015, and was earlier chancellor of Kogi State University. Achebe also serves as the chairman of the board of Directors of Unilever Nigeria, and the Chairman of International Breweries (ABInBev) Nigeria.
Before emerging as the Obi of Onitsha, in 2002, he had a long and distinguished career in the Royal Dutch Shell Group serving as Director in various companies in the group. He is worth about $50 million.
Nnaemeka Alfred Ugochukwu Achebe, owns a Rolls-Royce (2016 model) priced at no less than N100m.
Aminu Ado Bayero
Aminu Ado Bayero is the 15th Fulani Emir of Kano from the Fulani Sullubawa clan. He ascended the throne on 9 March 2020, following the deposition of his nephew Muhammad Sanusi II by Governor Dr. Abdullahi Umar Ganduje. He is the chancellor of the University of Calabar.
In 1990, he was appointed Dan Majen Kano and district head of Dala by his father, Ado Bayero, before being promoted to Dan Buram Kano in October of the same year. In 1992, he was promoted to Turakin Kano and to Sarkin Dawakin Tsakar Gida Kano in 2000. He also served as the chairman of the Kano emirate durbar committee. In 2014, the then emir of Kano, Muhammad Sanusi II, promoted him to Wamban Kano, thereby, transferring him from Dala to Kano municipal where he succeeded Galadiman Kano, Alhaji Tijani Hashim as the district head. In 2019, he was appointed emir of Bichi by the governor of Kano State, Abdullahi Umar Ganduje.
In October 2022, a Nigerian national honour of Commander of the Order of the Federal Republic (CFR) was conferred on him by President Muhammadu Buhari.
He has an estimated net worth of $20 million.
Oba Babatunde Aremu Akiolu
Oba Babatunde Aremu Akiolu is the Oba of Lagos and one of the traditional rulers in Nigeria who cannot be overlooked. Of course, he is one of the richest kings in Nigeria.
The wealthy king bagged his LL.B. degree from the University of Lagos and served in the Nigerian Police Force for 32 years before he ascended.
The palace of the Oba of Lagos alone is worth as much as 2 billion naira. The king himself has many assets in his possession. His net worth is estimated to be $9 million.
One of the top cars in the garage of this Lagos state monarch is a 2016 Mercedes-Benz S550, which is priced at over N34m.
Benjamin Ikenchuku Keagborekuzi I
Benjamin Keagborekuzi Ikenchuku Gbenoba I is the Dein of Agbor kingdom, a Nigerian traditional state in Delta State, Nigeria. The 46-year-old king was named the world’s youngest crowned monarch in the 1980 edition of the Guinness Book of World Records.
He earned multiple degrees and certificates in the United Kingdom, and on his return, he was appointed the Chancellor of the University of Ilorin. He became the youngest Chancellor of the university.
This royal leader of Agbor has been spotted riding in a plain black Mercedes Benz S550 Maybach (2015 model) worth about N65m. His net worth is estimated to be $8 million.
Oba Michael Adedotun Aremu Gbadebo
Oba Michael Adedotun Aremu Gbadebo is the Alake of Egbaland. He is a traditional ruler in Nigeria, specifically in the Egba kingdom of the Yoruba people. Oba Adedotun Gbadebo ascended the throne on May 21, 2005, succeeding Oba Oyebade Lipede.
Gbadebo, a former high-ranking military officer, assumed the role of the 10th Alake overseeing Egbaland in Ogun state. Additionally, he has achieved success in various private sector businesses. This monarch previously served as the chairman of the board for Oando PLC, one of Nigeria’s prominent oil and gas companies. His estimated net worth is around $5 million.
Oba Aladetoyinbo Ogunlade Aladelus
Oba Aladetoyinbo Ogunlade Aladelusi, known as Odundun II, serves as the 47th and current Deji of Akure, a traditional state in Akure, Ondo State. Ascending to the throne in 2015, he adopted the regnal name Odundun II, upholding the legacy established by his predecessor, the late Oba Adebiyi Adegboye Adesida.
Apart from his royal duties, Oba Aladelusi is a real estate developer and architect, contributing to his estimated net worth of $5 million. Recognized as one of the prominent Yoruba traditional kings in Nigeria, he exudes elegance and is among the wealthiest Yoruba monarchs.
In October 2022, President Muhammadu Buhari conferred upon him the Nigerian national honor of Commander of the Order of the Federal Republic (CFR).