Top 5 Richest Kings In Nigeria 2025: Monarchs With The Highest Net Worth And Their Investments
Nigeria's traditional rulers are not only custodians of culture and heritage but also influential figures in the nation's economic landscape. Many of these monarchs have successfully combined their royal duties with substantial business ventures, amassing significant wealth. This article delves into the top five richest kings in Nigeria as of 2025, highlighting their net worth, sources of income, and notable investments.
1. Oba Obateru Akinruntan – The Olugbo of Ugbo
Net Worth: $300 million
Kingdom: Ugbo Kingdom, Ondo State
Oba Obateru Akinruntan, the Olugbo of Ugbo, stands as Nigeria's wealthiest monarch. He is the founder of Obat Oil, a prominent indigenous oil company established in 1981. Obat Oil has grown to become one of Nigeria's largest privately-held oil companies, boasting a vast network of over 50 gas stations across the country and one of Africa's largest tank farms, with a capacity to store 65 million liters of petroleum products.
Investments and Assets:
- Oil and Gas: Oba Akinruntan's primary source of wealth stems from Obat Oil, which plays a significant role in Nigeria's petroleum industry.
- Real Estate: The monarch owns an extensive portfolio of prime commercial and residential real estate in Nigeria and abroad, including the landmark Febson Hotels and Mall in Abuja's Central Business District.
- Automobiles: Oba Akinruntan has a penchant for luxury cars. He made headlines as the first black person to own a custom-built 2012 Rolls-Royce similar to that of Queen Elizabeth II. His collection also includes a 2014 Bentley and other high-end vehicles.
2. Sa'adu Abubakar – The Sultan of Sokoto
Net Worth: $100 million
Kingdom: Sokoto Caliphate, Sokoto State
Sa'adu Abubakar, the 20th Sultan of Sokoto, is a revered spiritual leader among Muslims in Nigeria. Beyond his religious and traditional roles, the Sultan has substantial investments contributing to his impressive net worth.
Investments and Assets:
- Agriculture: The Sultan has significant investments in large-scale farming, focusing on crops like rice and maize, contributing to Nigeria's agricultural sector.
- Real Estate: He owns several properties in key Nigerian cities, generating substantial rental income.
- Transportation: The Sultan has stakes in transportation businesses, including a fleet of commercial vehicles operating across northern Nigeria.
3. Oba Adeyeye Ogunwusi Enitan – The Ooni of Ife
Net Worth: $75 million
Kingdom: Ile-Ife, Osun State.
Oba Adeyeye Enitan Ogunwusi ascended the throne as the Ooni of Ife in 2015. Prior to his coronation, he was a successful real estate developer, a venture that significantly contributes to his current wealth.
Investments and Assets:
- Real Estate: Oba Ogunwusi has been involved in numerous high-profile construction projects, including the development of the Jacob Mews Estate in Yaba and the Lakeview Park Estate in Lekki, Lagos.
- Hospitality: He has investments in the hospitality industry, owning resorts and hotels that promote tourism in Ile-Ife.
- Manufacturing: The Ooni has stakes in local manufacturing industries, producing goods ranging from furniture to agricultural products.
4. Oba Ewuare II Ogidigan – The Oba of Benin
Net Worth: $70 million
Kingdom: Benin Kingdom, Edo State
Oba Ewuare II, crowned as the Oba of Benin in 2016, has a diverse background in diplomacy and business. His experiences have translated into various investments that bolster his wealth.
Investments and Assets:
- Oil and Gas: The Oba has interests in the oil sector, with investments in petroleum distribution companies.
- Telecommunications: He holds shares in major telecommunications firms operating within Nigeria.
- International Business: Leveraging his diplomatic experience, Oba Ewuare II has established business relationships and investments in Europe and other parts of Africa.
5. Oba Lamidi Olayiwola Adeyemi III – The Alaafin of Oyo
Net Worth: $50 million
Kingdom: Oyo Empire, Oyo State
Oba Lamidi Adeyemi III served as the Alaafin of Oyo until his passing in April 2022. His wealth was accumulated through various ventures and strategic investments.
Investments and Assets:
- Publishing: The Alaafin had interests in the media industry, owning publishing outfits that produce books and newspapers.
- Education: He invested in educational institutions, including private schools and scholarship programs for indigent students.
- Art and Culture: Oba Adeyemi III was a patron of the arts, with a vast collection of artifacts and sponsorship of cultural festivals that attracted tourism and revenue.
Conclusion
Nigeria's monarchs have adeptly balanced their traditional roles with modern business ventures, contributing significantly to the nation's economy.
