With the recent dethronement of Emir Sanusi, the (now) former Emir of Kano, there is a need to rewrite and update the list of richest kings in Nigeria. We now want to reshuffle the list and know which kings constitute this illustrious list.
As you may already know, despite being a democratic republic, Nigeria still has monarchy in place in some areas, as a result of the indirect rule system which the British Colonialists used to subdue the region. Thankfully, however, these monarchs serve as paragons of our tradition, and reminders of our ancient pre-colonial glory, in which we thrived as people, and built civilizations and empires that even the Europeans marveled at.
The traditional rulers of today may no longer run empires, but many of them have become ridiculously wealthy. In this article, we want to know who among them make the list of the richest, and most powerful. Without any further ado, we now present the top 10 richest kings in Nigeria.
Top 10 Richest Kings In Nigeria 2020
1. Olugbo of Ugbo
Oba Obateru Akinrutan – Olugbo of Ugbo with an estimated net-worth of about $300 Million is the richest king in Nigeria. Oba Obateru Akinruntan is the monarch of the Ugbo Kingdom in Ondo state. Besides being a monarch, he is an astute businessman. He is the chairman of Obat Petroleum, which is one of the largest private oil trading companies in Nigeria which controls some of Africa’s largest oil depots.
The Olugbo of Ugbo Kingdom made Forbes’ list as one of the wealthiest monarchs in Nigeria with his net worth estimated at 300 million USD.
Olugbo of Ugbo makes his royal appearances in a Bentley Mulsanne (2014 model) valued at over N100 million and also has in his fleet of cars a Custom built Rolls-Royce (2012 edition) which is built in an identical fashion to that in which Her Royal Majesty Queen Elizabeth II is driven around in.
- 2. Sa’adu Abubakar – Sultan of Sokoto
The Sultan of Sokoto – is traditionally the most powerful ruler in the north. He sits over the Sokoto Caliphate. The Sultan is not just a traditional ruler; he is the spiritual head of the Fulanis, making him the spiritual head of the Muslims in the country. Sultan Sa’adu Abubakar had an illustrious career in the army and retired as a Brigadier General. He is the co-chairman of the Nigerian Council of Traditional Rulers.
The Sultan has his net worth estimated at about 100 million USD making him the second richest king in Nigeria. This is one of the most influential persons in the whole of Nigeria, and he is often consulted on political and social matters affecting anywhere in the north. Sultan of Sokoto often makes the announcement to commence the period of fasting, as well as the sighting of the moon which signals the end of the fast and the commencement of salah celebrations. He is a first-class king, and the only king in Nigeria to double as a religious leader whose influence extends beyond the borders of his domain.
- 3. Oba Adeyeye Ogunwusi Eniitan- Ooni Of Ife
The Ife Kingdom is the traditional home of Yoruba-land. According to legend, it is the place that the founders of the Yoruba people first landed, colonized, and made their home. From there they started their expansion in all directions, spreading out into the area that is today known as western Nigeria. Therefore, one does not have to be told that the throne of the Ooni of Ife, is the throne of the father of Yorubaland and that one must accord the occupant his due respect and reverence. Oba Adeyeye is a man of substance and influence in every possible meaning. He makes this list with an estimated $70 million dollar fortune to his name.
The Ooni ranks as one of the most respected rulers in the world and holds a lot of power and authority in the Yoruba land. He is a successful real estate businessman and serves as the Chancellor of the University of Nigeria, Nsukka. The Ooni Of Ife lives in a breathtaking palace with swimming pools, beautiful gardens, and cars including a Rolls-Royce Phantom model 2011. The Ooni also owns 2 Bentleys and a Mercedes Benz S550.
4. Oba Ewuare II Ogidigan – Oba of Benin
The Benin Kingdom is an ancient kingdom. The empire once spanned most of south-south Nigeria, As well as Lagos to the West, and even what is today known as the Benin Republic. As a matter of fact, it is recorded that when the first Europeans to land in Nigeria (the Portuguese) came to Benin City they were astounded to find a thriving city, with armed patrols, a city wall, and street lights. When the British came to Nigeria they posed as traders and went on to sign a trade deal with the Oba of Benin on behalf of the British crown. This allowed them into Southern Nigeria before they later revealed their true intentions which were colonization of the land and exploitation of the resources.
The Oba is the traditional authority in Benin City, Edo state of Nigeria. He wields power and influence that cannot be undermined. The present Oba Ewuare is the 40th Oba of the ancient Benin Kingdom and has an estimated net worth of about 60 million USD. When he makes a royal appearance the Oba usually arrives in a Rolls-Royce Phantom 2016 model with an estimated cost of over N150 million, fourth spot on the list of richest kings in Nigeria. He is royalty with a royal treasury to back it up.
5. Nnaemeka Alfred Ugochukwu Achebe – Obi of Onitsha
The kingdom of Onitsha is an old kingdom dating back to 1500. The founders of the Onitsha kingdom came from Benin, and that is why the Obi of Onitsha, in his regalia and title, is very similar to the Oba of Benin. Onitsha is a hub of commerce, and has the largest market in Africa; the Onitsha main market. It is no surprise therefore that the Obi of Onitsha should be a man of wealth and influence. Nnaemeka Alfred Ugochukwu Achebe does not disappoint in this regard. With a net worth estimated at about $50 Million Dollars, he is one of the wealthiest kings in Nigeria.
Before ascending the throne, the Obi has served as executive director at Shell Petroleum Development Company and he was also at one time the Chancellor of Ahmadu Bello University, Zaria.
6. Oba Lamidi Adeyemi – Alaafin of Oyo
The Alaafin of Oyo, traditionally speaking, is one of the most highly respected kings in Yoruba-land Oyo is an ancient city-state, with a rich history dating back to many centuries before the coming of Europeans in what is today southern Nigeria. Oba Lamidi Adeyemi is the monarch in the Oyo state of Nigeria, and he has not defaulted on the prestige of the ancient stool which he sits on. He ranks as the second most influential king in Yoruba land. The Alaafin lives in his opulent palace with his three wives. His palace is considered a Historical Monument. His net worth is about 40 million USD.
When he makes a royal appearance he usually does so in a stretched limousine or an SUV.
7. Oba Babatunde Aremu Akiolu – Oba of Lagos
The seventh richest king in Nigeria, the Oba of Lagos is the traditional ruler of Lagos. Traditionally, the Oba of Lagos is the ruler of Lagos and the keeper of the traditional institutions therein. Even in today’s post-colonial Nigeria, the Oba of Lagos is an eminent personality and a man of great wealth. Oba Babatunde Aremu Akiolu has not reduced the eminence of the stool of his forefathers. Before ascending the throne he served in the Nigerian Police Force for 32 years. Oba Rilwan Babatunde Akiolu’s net worth is estimated at around 40 million USD. He has assets too numerous to mention, and his endorsement is highly sought after by people seeking political office. When making a royal appearance the Oba Eko as he is known does so in his 2016-Mercedes-Benz-S550 which is valued at about N34 million.
- 8. King Godfrey Emiko – Olu of Warri
The city of Warri in Delta State has contributed immensely to the development of Nigeria through its immense oil deposits. Sadly, this land has witnessed the spilling of so much blood as several communities have for a long time been on each other’s throats as they squabble over land. With the influence of the Olu of Warri, however, it is hoped that much of this squabbling will cease. The
Olu of Warri; Godfrey Emiko falls among the richest kings in Nigeria with his net worth at 30 million USD.
9. Benjamin Ikenchuku Keagborekuzi I – Dein of Agbor
The Agbor people are people with a rather loose identity which is a mixture of Igbo and Benin culture. Remember that the migrating Onitsha people passed through Agbor land on their way from Benin into what is now Onitsha. The Dein of Agbor is the traditional ruler of the land and the custodian of its unique customs and traditions. The present Dein Benjamin Ikenchuku Keagborekuzi has an estimated net worth of 10 million dollars, making him a very rich man.
10. Oba Saheed Elegushi
$ 10 Million Dollars
Oba Saheed Elegushi is a young and vibrant traditional ruler whose domain is in the Lekki area of Lagos Island. He is the 21st ruler of Ikate Kingdom. The Oba who is well known for his lavish lifestyle and opulence makes his royal appearance in a custom made bulletproof Rolls Royce Gushi. He makes millions of naira daily through the Elegushi Private Beach and has a ton of other assets.
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