Top 10 richest monarchs in Nigeria
The richest monarchs in Nigeria have one thing in common, they are flamboyant at ceremonies they attend. Nigeria is a country with many different tribes that are ruled by both political and traditional authorities.
The guardians of the culture, the monarchs, ensure that their communities continue to be peaceful and develop steadily.
Nigerian kings are charged with leading exemplary lives and ensuring that their reputation fairly represents the people they are tasked with governing.
Some of these kings will likely arrive at important events in a convoy of flashy cars to underline their power and elegance.
Table of Content hide 1Top 10 richest monarchs in Nigeria 1.1Oba Obateru Akinruntan [Olugbo of Ugbo] 1.2Muhammadu Sa’adu Abubakar III [Sultan of Sokoto] 1.3Oba Adeyeye Ogunwusi Enitan [Ooni of Ife] 1.4Oba Ewuare II Ogidigan [Oba of Benin] 1.5Nnaemeka Alfred Ugochukwu Achebe [Obi of Onitsha] 1.6Oba Babatunde Aremu Akiolu [Oba of Lagos] 1.7Ogiame Atuwatse III [Olu of Warri] 1.8Aminu Ado Bayero [Emir of Kano] 1.9Benjamin Ikenchuku Keagborekuzi [Dein of Agbor Kingdom] 1.10Adedotun Aremu Gbadebo III [Alake of Egba]Top 10 richest monarchs in Nigeria
The Nigerian monarchs with the highest net worth and income are listed below;
Oba Obateru Akinruntan [Olugbo of Ugbo]
Oba Obateru Akinrutan, the Olugbo of Ugbo, in the Yoruba kingdom, is Nigeria’s richest king.
Oba Obateru Akinruntan is the leader and traditional ruler of the community of Ugbo, which is situated in Ondo State. Oba Akinruntan also runs a prosperous company aside from his role as a king.
He is the sole owner of Obat Petroleum, one of Nigeria’s most prominent and prosperous oil trading companies.
According to Forbes, the Olugbo of the Ugbo kingdom, who is considered to be the wealthiest monarch in Nigeria, is thought to have a net worth of more than $300 million.
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Muhammadu Sa’adu Abubakar III [Sultan of Sokoto]
Muhammadu Sa’adu Abubakar, the Sultan of Sokoto, is the second richest monarch in Nigeria. He is not only the most powerful traditional ruler in northern Nigeria but also the spiritual leader of all Muslims in the country.
He is also the co-chairman of the Nigerian Council of Traditional Rulers.
He ascended the throne in 2016 to become the 20th Sultan of Sokoto, succeeding his father, Sultan Maccido. His net worth is estimated at $100 million.
Oba Adeyeye Ogunwusi Enitan [Ooni of Ife]
Forbes ranks Oba Adeyeye Ogunwusi Enitan, the Ooni of Ife, as the third wealthiest monarch in Nigeria.
Oba Adeyeye Ogunwusi Enitan is a monarch with considerable power and influence in Yorubaland.
The Ooni is regarded as one of the most adored kings in the world, in addition to the authority and power he holds in Yorubaland.
Oba Adeyeye Ogunwusi Enitan is also the Chancellor of the University of Nigeria in Nsukka and a prosperous businessman in the real estate sector. The Ooni of Ife’s net worth is estimated at $70 million.
Oba Ewuare II Ogidigan [Oba of Benin]
Oba Ewuare II Ogidigan, the ruler of the Benin Kingdom and the fourth-richest king in all of Nigeria, is a powerful monarch. He commands great respect, influence, and power.
Oba Ewuare II Ogidigan received his Master of Public Administration from Rutgers University Graduate School in New Jersey, the United States, and a Bachelor of Science in Economics from the University of Wales in the United Kingdom.
Oba of Benin is also the ambassador of Nigeria to some other nations. He resides in a beautiful palace designed to fulfil the needs of a king of stature on a global scale. He is the Benin Kingdom’s 40th Oba. His net worth is estimated at $60 million.
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Nnaemeka Alfred Ugochukwu Achebe [Obi of Onitsha]
Nnaemeka Alfred Achebe, the Obi of Onitsha, is the traditional ruler of Onitsha in Anambra State. With an estimated net worth of $50 million, he is one of the wealthiest rulers in Nigeria. He had a lengthy and illustrious career in the Royal Dutch Shell Group before becoming the Obi of Onitsha in 2002.
Additionally, he served as chairman of Diamond Bank PLC and Universal Insurance PLC. He presently serves as chairman of Unilever Nigeria PLC, Intafact Beverages Limited (SAB-Miller), and International Breweries (ABInBev) Nigeria and Omak Maritime Limited.
Obi Achebe has participated in the panel of inquiry into the petroleum industry twice for the country. He participated in the Administrative Panel of Enquiry on the Port Harcourt Refinery in 1976. In 2004, President Obasanjo asked him to chair the presidential investigation into the nation’s fuel shortage in February 2003.
In 2004, he received a national honour, Commander of the Order of the Federal Republic (CFR).
Oba Babatunde Aremu Akiolu [Oba of Lagos]
Oba Babatunde Aremu Akiolu, the Oba of Lagos, joined the list of the richest rulers in Nigeria with an estimated net worth of $40 million in 2022. The successor to Oba Adeyinka Oyekan was chosen by the kingmakers of the Lagos traditional kingdom and crowned in 2003.
He worked for 32 years in the Nigeria Police Force before becoming the Oba of Lagos. In 1999, he was promoted to Assistant Inspector-General of Police and retired in 2002. He is a fellow of the Nigerian Law School and a member of the Nigerian Institute of Management.
Ogiame Atuwatse III [Olu of Warri]
The 21st Olu of Warri, Ogiame Atuwatse III, ranks seventh among the wealthiest kings in Nigeria. He succeeded his uncle, Ogiame Ikenwoli I, the 20th Olu of Warri, and was installed as the 21st Olu of Warri in 2021 at Ode-Itsekiri.
Atuwatse attended NNPC Primary School in Warri and Adesoye College in Kwara State for his primary schooling. He received a bachelor’s degree in International Studies and Political Science from Case Western Reserve University in the United States in 2006. In 2007, he graduated with a master of science in management from the Weatherhead School of Management at the same university.
His net worth is estimated at $30 million
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Aminu Ado Bayero [Emir of Kano]
Aminu Ado Bayero, the 15th Emir of Kano, ascended the throne after his nephew Sanusi Lamido Sanusi (Muhammad Sanusi II) was removed from power on March 9, 2020, by Governor Abdullahi Umar Ganduje. He has an estimated net worth of $20 million.
Ado Bayero, Kano’s longest-serving emir, was Bayero’s father, and he was born on July 1st, 1961. He attended Kofar Kudu Primary School before enrolling at Government College, Birnin-Kudu. He attended Flying College in Oakland, California, and Bayero University in Kano to study mass communication.
He had many conventional professions before ascending the throne, including public relations officer at Kabo Air. Ado Bayero, his father, appointed him Dan Majen Kano and district head of Dala in 1990. In October of that same year, he was promoted to Dan Buram Kano. He was also the Kano emirate durbar committee’s chairman.
Benjamin Ikenchuku Keagborekuzi [Dein of Agbor Kingdom]
Benjamin Ikenchuku Keagborekuzi is the traditional leader of the Agbor people in Delta State.
His father passed away when he was just two years old and he was made king in his place. The Guinness Book of World Records recognises him as the youngest monarch ever as a result.
He was given the pleasure of being named Chancellor at the University of Ilorin following his return from the United Kingdom, where he had completed some courses and earned certifications, making him the university’s youngest-ever Chancellor. Benjamin Ikenchuku Keagborekuzi I, the Dein of Agbor, is said to have a net worth of $10 million.
Adedotun Aremu Gbadebo III [Alake of Egba]
Adedotun Aremu Gbadebo III, the current Alake of Egba, ranks ninth among the wealthiest kings in Nigeria in 2022 with an estimated net worth of $5 million. He was born on September 14, 1943. He is the great-grandson of Oba Gbadebo, the sixth Alake of Egbaland, who ruled from 1898 until 1920.
Gbadebo attended Ibadan Grammar School and the Baptist Boys’ High School in Abeokuta before enrolling at the University of Ibadan in 1965 and earning a Bachelor of Arts in 1969. He enlisted in the army in 1969 and served as Major-General Tunde Idiagbon’s principal staff officer. He left the military as a Colonel.
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