RICHEST KINGS IN NIGERIA AND THEIR NET WORTH – [UPDATED]

Nigeria, with its rich cultural tapestry, boasts a diverse array of traditional monarchs who not only symbolize centuries-old traditions but also wield significant economic power. These kings, with their heritage and modern investments, stand as pillars of influence in Nigerian society. As wealth symbols, their financial status often reflects their kingdom’s prosperity. Here’s an updated look at the ten richest kings in Nigeria and their impressive net worth.

1. Oba Obateru Akinrutan – The Olugbo of Ugbo Kingdom
   With a remarkable blend of royal lineage and entrepreneurial acumen, Oba Obateru Akinrutan holds the distinction of being not only the richest king in Nigeria but also one of the wealthiest monarchs in Africa. As the traditional ruler of Ugbo Kingdom in Ondo State, his net worth stands at an estimated $300 million. A significant portion of his wealth is derived from his vast oil business interests, including the ownership of Obat Oil, one of Nigeria’s largest private oil companies.
2. Oba Adeyeye Enitan Ogunwusi – The Ooni of Ife
   As the spiritual leader of the Yoruba people and the custodian of the ancient city of Ife, Oba Adeyeye Enitan Ogunwusi commands both reverence and wealth. His net worth is estimated to be around $70 million, attributed to various investments in real estate, agriculture, and other business ventures. Oba Ogunwusi is renowned for his philanthropic activities and initiatives aimed at fostering youth empowerment and cultural preservation.
3. Oba Lamidi Adeyemi III – The Alaafin of Oyo
   With a reign spanning over five decades, Oba Lamidi Adeyemi III is one of Nigeria’s longest-reigning monarchs. As the Alaafin of Oyo, his influence extends beyond the boundaries of his kingdom. His net worth is estimated to be approximately $50 million, derived from investments in real estate, agriculture, and hospitality. Oba Adeyemi is revered for his advocacy for Yoruba culture and tradition, as well as his efforts towards community development.
4. Oba Ewuare II – The Oba of Benin
   As the traditional ruler of the ancient Benin Kingdom, Oba Ewuare II occupies a position of cultural significance and authority. His net worth is estimated at around $40 million, largely stemming from investments in real estate, oil and gas, and other business ventures. Oba Ewuare II is committed to preserving Benin’s rich cultural heritage while actively promoting economic development and social welfare initiatives.
5. Oba Rilwan Akiolu – The Oba of Lagos
   Oba Rilwan Akiolu, the paramount ruler of Lagos, stands as a symbol of tradition and modernity in Nigeria’s commercial capital. With a net worth estimated at $30 million, his wealth is attributed to investments in real estate, banking, and hospitality. Oba Akiolu is renowned for his efforts in promoting peace and unity among diverse ethnic groups in Lagos, as well as his support for initiatives aimed at youth empowerment and education.
6. Obi Nnaemeka Alfred Ugochukwu Achebe – The Obi of Onitsha
   As the traditional ruler of Onitsha, one of Nigeria’s oldest and most prominent kingdoms, Obi Nnaemeka Alfred Ugochukwu Achebe embodies a legacy of cultural heritage and leadership. With a net worth estimated at $25 million, he has diversified investments in sectors such as banking, manufacturing, and hospitality. Obi Achebe is committed to promoting the socio-economic development of Onitsha and fostering initiatives that empower its residents.
7. Oba Frederick Akinruntan – The Olugbo of Ugbo Kingdom
   Alongside his brother, Oba Obateru Akinrutan, Oba Frederick Akinruntan shares the distinction of being one of Nigeria’s wealthiest monarchs. As the Olugbo of Ugbo Kingdom, his net worth is estimated at $20 million, primarily driven by investments in oil and gas, real estate, and hospitality. Oba Akinruntan is known for his philanthropic endeavors, particularly in the areas of education and healthcare, aimed at uplifting his community.
8. Oba Dokun Abolarin – The Orangun of Ila
   Oba Dokun Abolarin, the traditional ruler of Ila Kingdom in Osun State, occupies a prominent position in Nigeria’s traditional hierarchy. With a net worth estimated at $15 million, his wealth is derived from investments in agriculture, real estate, and telecommunications. Oba Abolarin is committed to promoting rural development and empowering youth through education and skills acquisition programs.
9. Oba Saheed Ademola Elegushi – The Elegushi of Ikate Kingdom
   Known for his flamboyant lifestyle and modern approach to kingship, Oba Saheed Ademola Elegushi is the traditional ruler of Ikate Kingdom in Lagos State. With a net worth of approximately $10 million, his wealth is attributed to investments in real estate, entertainment, and hospitality. Oba Elegushi is actively involved in initiatives aimed at youth development, sports promotion, and community empowerment.
10. Oba Abdul Rasheed Adewale Akanbi – The Oluwo of Iwo
    As the traditional ruler of Iwo Kingdom in Osun State, Oba Abdul Rasheed Adewale Akanbi embodies a vision of progressive leadership and cultural preservation. With a net worth estimated at $5 million, his wealth is derived from investments in real estate, agriculture, and education. Oba Akanbi is known for his advocacy for peace and unity, as well as his efforts in promoting youth entrepreneurship and empowerment.

Conclusion

The wealth of Nigeria’s traditional monarchs reflects not only their personal fortunes but also the economic vitality of their kingdoms. Beyond their ceremonial roles, these kings play active roles in promoting socio-economic development, cultural preservation, and community empowerment. As custodians of tradition and agents of progress, they continue to shape Nigeria’s cultural landscape while contributing to its economic growth and prosperity.