Top 10 Richest Kings In Nigeria Net Worth and Biography

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  • Post last modified:February 6, 2022
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Nigeria is home to several tribes and ethnic groups which are ruled by Kings. Despite the shift to a democratic system of government, the role of the monarchs in keeping the country together remains critical even though they no longer hold formal political powers. Kings are respected and highly influential within the society. We take a look at the ten richest kings in Nigeria as of today.


  • #1. Oba Obateru Frederick Akinrutan
Oba Obateru Frederick Akinrutan
Oba Obateru Frederick Akinrutan IS THE RICHEST KING IN NIGERIA.

The title of the current richest king in Nigeria goes to the Olugbo of Ugbo Kingdom, Oba Obateru Akinrutan. The paramount ruler was born in 1950 and reigned over the Ugbo Kingdom, a town in Ilaje Local Government Area of Ondo State. Oba Obateru is a billionaire businessman who is well known for his investments in the oil and gas industry. He is the founder of Obat Oil, one of the leading privately owned oil companies in Nigeria. Obat Oil was established in the year 1981 by Oba Obateru, and the company currently has over 50 gas stations across the six geopolitical zones of Nigeria. The company also owns one of the largest tank farms in Africa with a capacity to store up to 65 million liters of petroleum products. As of 2014, Forbes listed Oba Obateru as worth an estimated US$300 million. He is also ranked as the second richest monarch in all of Africa, second to the king of Morocco as revealed by Forbes magazine. He surpassed the now late Ooni of Ife, Oba Sijuwade Olubuse II, who was worth $225 million and the Swaziland King Mswati III who is estimated to be worth over $200 million. Oba Obateru revealed that the first time he ever saw a car was in Sapele when he was 11 years old. Today, the King drives a custom built 2012 Rolls Royce which is similar to that of Queen Elizabeth II. He also revealed during an interview that he owns a wristwatch that is worth $1 million watch. Oba Obateru is also the first black person to purchase the 2014 model of Bentley automobile. He is as of today the richest King in Nigeria.

  • #2. Obi Of Onitsha
List of Top 10 Richest Kings In Nigeria
List of Top 10 Richest Kings In Nigeria
Obi Of Onitsha Secon Richest King In Nigeria.
Obi Of Onitsha Secon Richest King In Nigeria.

The second monarch on this list is the Obi of Onitsha. He was born Nnaemeka Alfred Ugochukwu Achebe in the year 1941. He is the traditional ruler of Onitsha, located in Anambra State, Eastern Nigeria. Before he became the Obi, he worked in the banking industry for decades and served as an executive director at Shell Petroleum Development Company (SPDC). He attended both Stanford University and the Columbia University. He is as of now the Chancellor of Ahmadu Bello University locates in Zaria. Obi of Onitsha is estimated to be worth $50 million currently.





  • #3. Sultan Of Sokoto
Sultan Of Sokoto
Sultan Of Sokoto

The third current richest King in Nigeria is the Sultan of Sokoto, Muhammadu Sa’ad Abubakar IV. He is a very important monarch in Nigeria as he is the spiritual leader of all Muslims in the country and also, he is the co-chairman of the Nigerian Council of Traditional Rulers. He is also the President-general of the Nigerian National Supreme Council for Islamic Affairs (NSCIA). Before being turbaned as the Sultan of Sokoto, Abubakar headed a presidential security unit of the Armoured Corps that was charged with protecting then military ruler, General Ibrahim Babangida in the late 1980s. He also commanded a battalion of African peacekeepers in Chad in the early 1980s as part of the Organisation of African Unity’s force. He was also the military liaison officer for the Economic Community of West African States (ECOWAS) in the mid-1990. Between 2003 and 2006, he served as the Defence Attaché to Pakistan. After the demise of his elder brother, Sultan Maccido in 2006, he was recalled to take office as the 20th Sultan of Sokoto. This led to his retirement from the Army as a Brigadier General.

  • #4. Emir Of Kano
Emir Of Kano
Emir Of Kano

The current Emir of Kano is also one of the richest kings in the country. He is the immediate past governor of the Central Bank of Nigeria and a highly respected Islamic scholar. Lamido Sanusi Lamido is the current ruler in Kano, his grandfather, Muhammadu Sanusi I was the 11th Fulani Emir of Kano. In 2011, he was listed on Time magazine list of 100 most influential people. In 2013, he was honored at the third Global Islamic Finance Awards (GIFA) held in Dubai for his advocacy in promoting Islamic banking and finance during his tenure as governor of Nigeria’s central bank. The Emir of Kano once revealed that he earned over N14 million per annum as salary from the Federal Government while in charge of the country’s central bank. Although his current net worth is unknown, he is said to be worth several millions of dollars based on his many assets.

  • #5. Alaafin Of Oyo
Alaafin Of Oyo
Alaafin Of Oyo

The paramount ruler of Oyo Kingdom, Oba Lamidi Olayiwole III is another wealthy monarch in Nigeria. He was crowned in the year 1970 following the demise of Alaafin Gbadegeshin Ladigbolu II. He worked as an insurance clerk and a boxer before becoming the Alaafin. He was a one-time Chancellor of the University of Sokoto, a position he held for 12 years. In the year 1990, he was appointed by the Federal government to lead all the Muslims spread across the 21 states of the country.

  • #6. Ooni Of Ile-Ife
Ooni Of Ile-Ife
Ooni Of Ile-Ife

The current Ooni of Ife, Oba Adeyeye Ogunwusi Eniitan is another wealthy King in Nigeria. He was born in 1974 and ascended the throne of his forefathers following the death of the previous Ooni in 2015. His predecessor was ranked as the second richest Nigerian king while he was alive. Oba Adeyeye Ogunwusi studied accounting at the Polytechnic of Ibadan and currently, he is a member of the Institute of Chartered Accountants of Nigeria and an Associate Accounting Technician. He holds quite a number of honorary doctorate degrees from different institutions in Nigeria: one in Public Administration from the University of Nigeria, Nsukka and another in Law from Igbinedion University. He is also the current Chancellor at the University of Nigeria, Nsukka.

  • #7. Olu Of Warri

The current Olu of Warri is Godfrey Emiko. He was named as the successor to the Olu throne by the Itsekiri traditional council following the death of his elder brother, Ogiame Atuwatse II in 2015. The Olu of Warri is the traditional ruler of the oil-rich Kingdom of Warri. Warri is the oil hub of the South-South region and is home to several oil and gas companies.

  • #8. Oba Of Benin

The Oba of Benin is a powerful ruler of the Benin Kingdom. Historically, the Oba of Benin was the Head of the Benin Empire until it was annexed by the British in 1897. The current Oba is Ewuare II, and he is the 40th ruler of the kingdom. He was born Eheneden Erediauwa on the 20th of October, 1953 and was crowned as the Oba of Benin on the 20th of October 2016. Prior to ascending the ancient throne of Benin, Ewuare schooled in the United Kingdom where he bagged a degree in Economics from the University of Wales, UK. Also, he holds a Master of Public Administration degree from Rutgers University Graduate School, New Jersey, USA. After he completed his education, he worked at the United Nations between 1981 and 1982. He also served as Nigeria’s Ambassador to Angola, Sweden, and Italy.

  • #9. Oba Of Lagos

The current Oba of Lagos is Oba Rilwan Babatunde Osuolale Aremu Akiolu and he is one of the current richest kings in Nigeria. Oba Rilwan was born on the 29th of October 1943. He studied Law at the University of Lagos and bagged a Bachelor of Laws degree (LL.B). He enlisted in the Nigerian Police Force in 1970 and served for 32 years in various capacities and attained the rank of assistant inspector-general of Police in 1999 till he retired in 2002. A year later in 2003, he was crowned as the 21st Oba of Lagos. After his coronation, he built a magnificent palace that is said to be worth 2 billion nairas.

  • #10. Olubadan Of Ibadan

The city of Ibadan is one of the oldest and the largest city in Nigeria. It has a rich heritage and its Kings are also wealthy. The Olubadan used to be in charge of all the affairs of Ibadan until the system of governance in the country changed but still the king remains powerful and is one of the current richest kings in Nigeria.




Conclusion On Top 10 Richest Kings In  Nigeria Current Net Worth,  Biography And All You Need To Know About Them.

These Kings are the richest kings in Nigeria currently and rule over some of the most historical cities in the country.

Tag: Top 10 Richest Kings In  Nigeria Current Net Worth,  Biography And All You Need To Know About Them.