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Nigeria has several influential monarchs who play vital roles in their communities. These kings hold cultural significance and wield substantial economic power, often amassing significant fortunes from business ventures, real estate, and other investments. Explore the top 10 richest kings in Nigeria and what they own.
Source: UGC
TABLE OF CONTENTS
The list of richest kings in Nigeria is based on a combination of factors, including estimated net worth, property holdings, and the economic influence, from multiple sources, including Intel Region, YouTube and Nairaland. These estimates and may fluctuate due to various financial factors.
Summary table of the richest kings in Nigeria
| Rank | Name | Net worth |
| 1 | Oba Obateru Akinruntan | $300 million |
| 2 | Sultan Sa’adu Abubakar III | $100 million |
| 3 | Lamido Sanusi Lamido | $80 million |
| 4 | Oba Adeyeye Ogunwusi | $75 million |
| 5 | Oba Ewuare II Ogidigan | $60 million |
| 6 | Obi Nnaemeka Alfred Ugochukwu Achebe | $50 million |
| 7 | Ogiame Atuwatse III | $50 million |
| 8 | Oba Rilwan Akiolu | $40 million |
| 9 | Dein Keagborekuzi | $10 million |
| 10 | Oba Saheed Elegushi | $200k to 500k |
Top 10 richest kings in Nigeria
In contemporary Nigeria, the influence of traditional rulers extends far beyond ceremonial roles. Many of these monarchs have amassed significant wealth through traditional revenue streams, business ventures, and strategic investments.
1. Oba Obateru Akinruntan - $300 million
Source: UGC
- Full name: Fredrick Obateru Akinruntan
- Date of birth: 1950
- Kingdom: Olu of Ugbo Kingdom
Obateru Akinruntan is a Nigerian monarch and oil magnate who is the current traditional ruler of Ugbo Kingdom. He is also the founder of Obat Oil, one of Nigeria's largest and leading privately held oil companies.
Oba Obateru Akinruntan's net worth is alleged to be $300 million. He also owns luxury estates, high-end cars, and a multi-million-dollar palace.
2. Sultan Sa’adu Abubakar III - $100 million
Source: Getty Images
- Full name: Muhammadu Sa'ad Abubakar
- Date of birth: 24 August 1956
- Kingdom: Sultan of Sokoto
Muhammadu Sa'ad Abubakar, the 20th Sultan of Sokoto, is a prominent spiritual leader for Muslims across Nigeria. He assumed the position in November 2006. In the late 1980s, he led the Armoured Corps, guarding General Babangida.
Sultan Sa'ad Abubakar III is also among Nigeria's wealthiest traditional rulers, with an estimated net worth of $100 million.
3. Lamido Sanusi Lamido - $80 million
Source: Getty Images
- Full name: Muhammadu Sanusi II
- Date of birth: 31 July 1961
- Kingdom: Former Emir of Kano
King Lamido Sanusi Lamido, also known as Muhammadu Sanusi II or Khalifa Sanusi II, is the spiritual leader of the Tijanniyah Sufi order in Nigeria. He became the Emir of Kano after succeeding his uncle.
Sanusi is a banker and economist who served as the Governor of the Central Bank of Nigeria from 2009 to 2014. During this tenure, he was involved in the widely publicized $20 billion oil revenue controversy. With an estimated net worth of $80 million, King Sanusi ranks among the wealthiest monarchs in Africa.
4. Oba Adeyeye Ogunwusi - $75 million
Source: Getty Images
- Full name: Adeyeye Enitan Ogunwusi
- Date of birth: 17 October 1974
- Kingdom: Ooni of Ife
Adeyeye Ogunwusi is the traditional ruler and king of the Yoruba people of Ile-Ife. He ascended to the throne upon the death of Oba Okunade Sijuwade in August 2015.
Oba Adeyeye Ogunwusi's net worth is alleged to be $75 million. He invests in real estate and hospitality and owns hotels, resorts, and other businesses. His palace is also one of Nigeria's most opulent royal residences.
5. Oba Ewuare II Ogidigan - $60 million
Source: Getty Images
- Full name: Eheneden Erediauwa
- Date of birth: 20 October 1953
- Kingdom: Oba of Benin
Ewuare II was crowned the Oba of Benin on 20 October 2016, becoming the 40th holder of a title established for the Head of State (Emperor) of the Benin Empire between 1180 and 1300. Before his ascension, he worked with the United Nations from 1981 to 1982.
He also served as Nigeria's Ambassador to Angola and Sweden, with additional accreditation to Norway, Denmark, and Finland, and later held the role of Ambassador to Italy. He has considerable assets in the form of historical land ownership and properties. Ewuare II has an alleged net worth of $60 million.
6. Obi Nnaemeka Alfred Ugochukwu Achebe - $50 million
Source: UGC
- Full name: Nnaemeka Alfred Achebe
- Date of birth: 14 May 1941
- Kingdom: Obi of Onitsha
Nnaemeka Alfred was crowned as the 21st Obi of Onitsha in May 2002. He is one of the most respected traditional leaders in Eastern Nigeria. Currently, he serves as the Chancellor of Ahmadu Bello University and chairs the board of directors at Unilever Nigeria.
He served as a trustee for the National Traditional Rulers Council. From 1985 to 1987, he held director roles across Shell's operations in the Netherlands, UK, Sierra Leone, Angola, Liberia, the Gambia, Ghana, and Nigeria. He is among Nigeria's wealthiest monarchs, with an estimated net worth of $50 million.
7. Ogiame Atuwatse III - $50 million
Source: UGC
- Full name: Utieyinoritsetsola Emiko
- Date of birth: 2 April 1984
- Kingdom: Warri
Ogiame Atuwatse III is the traditional ruler of the Kingdom of Warri in Delta State, Nigeria, and a descendant of Olu Akengbuwa. He previously served as an officer at the Shell Nigeria Closed Pension Fund Administrator and worked with Sahara Energy from 2010 to 2012.
Ogiame Atuwatse III has an estimated net worth of $50 million. He ranks among Africa's top 10 wealthiest monarchs as of 2024.
8. Oba Rilwan Akiolu - $40 million
Source: UGC
- Full name: Rilwan Babatunde Osuolale Aremu Akiolu
- Date of birth: 29 October 1943
- Kingdom: Oba of Lagos
Oba Rilwan Akiolu became the 21st Oba of Lagos in May 2003. He graduated from the University of Lagos with a law degree. He served in the Nigerian Police Force for 32 years, reaching the rank of Assistant Inspector General before his coronation.
As of 2024, Oba Rilwan Akiolu's net worth is $40 million. He owns significant land holdings in Lagos and has a well-connected network across business and politics.
9. Dein Keagborekuzi - $10 million
Source: UGC
- Full name: Benjamin Keagborekuzi Ikenchuku Gbenoba
- Date of birth: 29 June 1977
- Kingdom: Agbor Kingdom
Dein Keagborekuzi is the Dein of the Agbor Kingdom, a traditional Nigerian state in Delta State. He ascended to the throne in 1980 as a child king following his father's passing.
Recognized for his remarkable coronation at a young age, Dein Keagborekuzi was featured in the 1980 edition of the Guinness Book of World Records as the world's youngest crowned monarch. His net worth is reportedly estimated at $10 million.
10. Oba Saheed Elegushi - $200k to 500k
Source: UGC
- Full name: Oba Alayeluwa Saheed Ademola Elegushi, Kusenla III
- Date of birth: 10 April 1976
- Kingdom: Elegushi of the Ikate-Elegushi Kingdo
Oba Elegushi hails from the Kusenla Ruling House of Ikateland in Lagos State. He succeeded his father, the late Oba Yekini Adeniyi Elegushi, who served as the 20th Oba Elegushi of Ikateland from 1991 until his passing in 2009.
Oba Saheed Elegushi is known for real estate developments in Lagos, high-value land ownership, and various business investments. His lifestyle includes luxury cars such as a Rolls Royce, and he maintains a modern palace. His net worth is alleged to range between N200 million and N400 million.
Who is the richest king in Africa now?
King Mohammed VI of the Alaouite dynasty in Morocco is the richest king in Africa, with a net worth of about $6 billion. He is among the few African billionaires.
Who is the richest king in Nigeria?
Oba Obateru Akinruntan is the richest king in Nigeria. His estimated net worth is $300 million. He also owns luxury estates, high-end cars, and a multi-million-dollar palace.
Who is the most feared king in Nigeria?
Ademiluyi Ajagun, renowned for his power and authority, was one of the most feared and highly respected kings in Africa and globally. He succeeded Ooni Adekola and was followed by Ooni Adesoji Aderemi.
The wealth amassed by the richest kings in Nigeria reflects their entrepreneurial spirit and dedication to upholding their cultural heritage. These monarchs contribute to their communities' development and play a significant role.
Legit.ng recently published a list of the richest people in Nigeria, including their net worth and sources of wealth. Numerous millionaires exist in contemporary Nigeria, and many people are curious about their net worth.
The most affluent people in the country have multiple income streams and investments in various sectors of the Nigerian economy. Their wealth has made them prominent locally and internationally.
Source: Legit.ng
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