Richest King in Nigeria 2023 – Top 10 Wealthiest Monarch

Richest King in Nigeria 2023

The monarchial system in Nigeria is still held in high regard, with many kingdoms showing great respect to their kings. Being the head of their respective kingdoms, the kings in Nigeria must live exemplary lives and represent their people, culture, and motherland. Nigeria has numerous kingdoms, with many influential kings who are respected personalities by citizens.

Some of these kings are known for their wealth, and they often make appearances on special occasions with convoys of expensive cars. Their wealth is amassed over time, making them some of the richest kings in Nigeria.

If you’ve ever wondered who the richest kings in Nigeria are, then we’ve got you covered. In this article, we will explore the top ten richest kings in Nigeria and their net worth.

Top 10 Richest Kings in Nigeria

Here is the list of the top 10 richest kings in Nigeria as of 2023:

S.No.	King	Real Name
1	The Olugbo of Ugbo	Oba Obateru Akinrutan
2	Obi Of Onitsha	Nnaemeka Alfred Ugochukwu Achebe
3	Sultan Of Sokoto	Sa’adu Abubakar
4	Emir Of Kano	Lamido Sanusi Lamido
5	Alaafin Of Oyo	Oba Lamidi Adeyemi
6	Ooni Of Ile-Ife	Oba Adeyeye Ogunwusi Enitan
7	Olu Of Warri	Godfrey Emiko
8	Oba Of Benin	Oba Ewuare II Ogidigan
9	Oba Of Lagos	Oba Babatunde Aremu Akiolu
10	Deign Of Agbor	Benjamin Ikenchuku Keagborekuzi I

TRENDING

1. The Olugbo of Ugbo (Oba Obateru Akinrutan)

Obateru Akinrutan is a highly successful and wealthy monarch who hails from Ugbo Kingdom in Ondo State. He was born in 1950 and has made his mark in the business world as a billionaire entrepreneur with a keen interest in the oil and gas industry.

In 1981, Obateru founded Obat Oil, which has since grown to become one of Nigeria’s leading privately held oil companies. The company operates over 50 gas stations in Nigeria’s six geopolitical zones and has one of the largest tank farms in Africa, with a capacity to store 65 million liters of petroleum products. As of 2014, Forbes estimated his net worth to be around US$300 million. This makes him the second richest king in Africa and the richest in Nigeria, surpassing King Olubuse II, the Ooni of Ife, and Swaziland King Mswati III.

Obateru Akinrutan is known for his luxurious lifestyle, owning a custom-built 2012 Rolls Royce similar to that of Queen Elizabeth II. He also revealed in an interview that he owns a wristwatch worth $1 million. In addition, he is the first black person to own the 2014 model of Bentley automobile. It is interesting to note that the first time he ever saw a car was when he was 11 years old in Sapele.

Despite his wealth and success, Obateru Akinrutan remains dedicated to his traditional role as the monarch of Ugbo Kingdom. He is highly respected and regarded as a champion of the welfare of his people. His business acumen has made him a role model for many young Nigerians who aspire to succeed in the business world.

2. Obi Of Onitsha (Nnaemeka Alfred Ugochukwu Achebe)

Nnaemeka Alfred Ugochukwu Achebe, also known as the Obi of Onitsha, was born in 1941 and is the current traditional ruler of Onitsha, a city located in Anambra State, Nigeria. Before ascending to the throne, he had an illustrious career in the banking industry, having worked for several decades, and he also served as an executive director at Shell Petroleum Development Company.

The Obi of Onitsha is highly educated, having studied at prestigious institutions such as Stanford University and Columbia University. In addition to his traditional role, he also holds the position of Chancellor at Ahmadu Bello University, one of Nigeria’s most prominent universities.

With an estimated net worth of $50 million, the Obi is regarded as one of the wealthiest monarchs in Nigeria. His wealth is attributed to several factors, including his successful career in the private sector and his vast real estate holdings.

In addition to his business and academic pursuits, the Obi is also involved in various philanthropic initiatives, particularly those focused on education and youth development in his community.

3. Sultan Of Sokoto (Sa’adu Abubakar)

Muhammadu Sa’ad Abubakar IV is the current Sultan of Sokoto and is considered to be one of the wealthiest monarchs in Nigeria. He plays a significant role in the northern part of the country and holds the position of co-chairman of the Nigerian Council of Traditional Rulers.

As the Sultan of Sokoto, he is recognized as the spiritual leader of Nigeria’s Muslim population, which numbers approximately 70 million. Additionally, he is the president-general of the Nigerian National Supreme Council for Islamic Affairs (NSCIA), a prominent organization dedicated to promoting Islamic affairs in Nigeria.

Before his coronation as Sultan, Abubakar was the head of a presidential security unit that protected General Ibrahim Babangida during the late 1980s. He also led an African peacekeeping battalion in Chad during the early 1980s and served as the military liaison officer for the Economic Community of West African States (ECOWAS) in the mid-1990s. Furthermore, he was the Defence Attaché to Pakistan from 2003 to 2006.

In 2006, Abubakar was recalled to Nigeria following the death of his elder brother, Sultan Maccido. He assumed the throne and became the 20th Sultan of Sokoto. His ascension to the position necessitated his retirement from the army, where he had attained the rank of Brigadier General.

Abubakar’s influence extends beyond Nigeria, as he has received numerous accolades for his contributions to Islamic finance and banking. In 2013, he was recognized at the third Global Islamic Finance Awards (GIFA) in Dubai for his advocacy in promoting Islamic banking and finance during his tenure as governor of Nigeria’s central bank. He was awarded the Global Leadership in Islamic Finance Award in 2015, becoming the fifth GIFA Laureate.

4. Emir Of Kano (Lamido Sanusi Lamido)

Lamido Sanusi Lamido is the Emir of Kano and a former governor of the Central Bank of Nigeria. He comes from a respected line of traditional rulers; his grandfather was the 11th Fulani Emir of Kano. Sanusi is also a prominent Islamic scholar and has received recognition for his work in promoting Islamic banking and finance.

In 2011, Sanusi was named one of Time magazine’s 100 most influential people, and in 2013 he received the Global Leadership in Islamic Finance Award for his advocacy in promoting Islamic finance. During his tenure as governor of the Central Bank of Nigeria, he was also recognized for his efforts to modernize the country’s financial sector and improve transparency.

Sanusi’s annual salary from the Federal Government is reportedly over N14 million. While his net worth is not publicly disclosed, he is said to own a number of assets and is considered to be worth several millions of dollars. Additionally, as the Emir of Kano, he wields significant political and social influence in the northern region of Nigeria.

5. Alaafin Of Oyo (Oba Lamidi Adeyemi)

Lamidi Olayiwole III is a prominent traditional ruler and one of the wealthiest kings in Nigeria. He was crowned as the Alaafin of Oyo in 1970 after the previous Alaafin, Gbadegeshin Ladigbolu II, abdicated the throne.

Before ascending to the throne, Lamidi worked as an insurance clerk and was also a skilled boxer. He later became the Chancellor of the University of Sokoto, a position he held for 12 years. As Chancellor, he made significant contributions towards the development of university education, and addressed some of the pressing issues of the time.

In recognition of his vast knowledge and leadership abilities, Lamidi was appointed by the Federal Government of Nigeria to lead the Muslim community spread across the 21 states of the country in 1990. He has continued to promote interfaith harmony and unity, as well as contributing to national development in various other ways.

As the Alaafin of Oyo, Lamidi has played a crucial role in preserving and promoting the cultural heritage of his people. He is widely respected by his subjects and has also gained recognition from international bodies for his contributions towards the development of Nigeria.

In addition to his traditional role, Lamidi is also known for his philanthropic activities. He has initiated and supported numerous projects aimed at improving the lives of his people, particularly in the areas of education, health, and poverty alleviation.

Lamidi Olayiwole III is a respected traditional ruler, accomplished leader, and philanthropist. His contributions to the development of Nigeria and his commitment to preserving the cultural heritage of his people are commendable and worthy of emulation.

6. Ooni Of Ile-Ife (Oba Adeyeye Ogunwusi Enitan)

Oba Adeyeye Ogunwusi Eniitan is the reigning Ooni of Ife, a revered traditional ruler of the Yoruba people in Nigeria. He was born in 1974 and ascended the throne in 2015 following the demise of his predecessor, who was ranked as the second richest Nigerian king.

Oba Adeyeye is an accomplished accountant, having graduated from The Polytechnic, Ibadan. He is a member of the Institute of Chartered Accountants of Nigeria and an Associate Accounting Technician. His expertise in accounting and financial management has helped him to effectively manage the financial affairs of the Ife kingdom.

In recognition of his contributions to the development of Nigeria, Oba Adeyeye has been awarded several honorary doctorate degrees. He was awarded a Doctorate in Public Administration by the University of Nigeria, Nsukka, and a Doctorate in Law by Igbinedion University. He currently serves as the Chancellor of the University of Nigeria, Nsukka.

As the Ooni of Ife, Oba Adeyeye is a respected and influential leader who has played a key role in promoting the cultural heritage of the Yoruba people. He has initiated several projects aimed at improving the economic, social, and cultural wellbeing of the Ife kingdom. In addition, he has also worked towards fostering unity and peace among the various ethnic groups in Nigeria.

Oba Adeyeye Ogunwusi Eniitan is an accomplished accountant, a distinguished leader, and a custodian of the Yoruba culture. His contributions to the development of Nigeria and the promotion of the country’s cultural heritage will undoubtedly continue to inspire future generations.

7. Olu Of Warri (Godfrey Emiko)

Godfrey Emiko is the current Olu of Warri, who ascended the throne in 2021. He is the traditional ruler of the Kingdom of Warri, which is a major city in Delta State, Nigeria. Warri is known as the hub of the oil and gas industry in the South-South region of Nigeria, and as such, the Olu of Warri plays a significant role in the economic and cultural affairs of the region.

Godfrey Emiko is considered one of the richest kings in Nigeria, and he was named the successor to the throne by the Itsekiri traditional council after the death of his older brother, Ogiame Atuwatse II, who reigned from 1987 to 2015. Before his coronation, Godfrey Emiko was known as Prince Tsola Emiko and he held a degree in International Studies and Political Science from the University of Wisconsin-Madison, USA.

As the Olu of Warri, Godfrey Emiko has been involved in promoting peace, unity, and development in the Warri Kingdom and the wider Delta State. He has also been actively involved in the preservation and promotion of the cultural heritage of the Itsekiri people. In addition, he has played a significant role in attracting investment and development to the region, particularly in the oil and gas sector.

8. Oba Of Benin (Oba Ewuare II Ogidigan)

The Oba of Benin is the revered traditional leader of the Edo people, and historically held the title of Head of State of the Benin Empire until the British annexed the Empire in 1897. The current Oba of Benin is Ewuare II, who was born as Eheneden Erediauwa on October 20, 1953.

On October 20, 2016, Ewuare II ascended the throne as the 40th Oba of Benin, succeeding his late father, Oba Erediauwa. Before his coronation, Ewuare studied in the United Kingdom and obtained a degree in Economics from the University of Wales. He furthered his education in the United States, where he earned a Master of Public Administration degree from Rutgers University Graduate School, New Jersey.

Ewuare II has a distinguished career in public service. He worked at the United Nations from 1981 to 1982 and later served as Nigeria’s Ambassador to Angola and Sweden, with additional accreditation to Norway, Denmark, and the Republic of Finland. He also served as Nigeria’s Ambassador to Italy, where he made significant contributions to strengthening diplomatic relations between Nigeria and Italy.

As the current Oba of Benin, Ewuare II is a respected and revered leader who is committed to advancing the cultural and economic development of the Edo people. He has initiated several developmental projects and has also taken significant steps to promote and preserve the rich cultural heritage of the Benin kingdom.

Ewuare II is a distinguished statesman and leader who has made significant contributions to the growth and development of Nigeria. His legacy as the Oba of Benin will undoubtedly continue to inspire future generations.

9. Oba Of Lagos (Oba Babatunde Aremu Akiolu)

Rilwan Babatunde Osuolale Aremu Akiolu is the reigning Oba of Lagos and one of the wealthiest kings in Nigeria. Born on October 29, 1943, he obtained a Bachelor of Laws degree from the University of Lagos. Akiolu joined the Nigeria Police Force in 1970 and served for 32 years, rising to the rank of assistant inspector-general of Police in 1999 before retiring in 2002.

A year after his retirement, he was crowned the 21st Oba of Lagos and subsequently built a palace estimated to be worth N2 billion. The Oba is considered one of the most influential monarchs in Africa, given his position as the traditional ruler of Lagos, the largest city in Nigeria.

Aside from his royal duties, Akiolu is also known for his philanthropic works. He has supported various initiatives and organizations aimed at improving the lives of Nigerians, particularly those in Lagos state. The Oba of Lagos is a highly respected figure in Nigeria, and his opinions on political and social issues are often sought after by government officials and the media.

10. Deign Of Agbor (Benjamin Ikenchuku Keagborekuzi I)

The kingdom of Agbor has an estimated net worth of $10 million. The current ruler, Eze Benjamin Ikenchuku Keagborekuzi, is recognized by the Guinness Book of Records as the youngest king in the world, having ascended to the throne at the age of 2 and reigning ever since.

While the kingdom of Agbor may not be the wealthiest among Nigerian monarchies, the historical significance of its ruler and the cultural richness of the region make it a valuable asset to the country. The royal family and their subjects have upheld their traditions and customs for generations, attracting visitors from around the world to experience the beauty and diversity of their land.

The Dein of Agbor and his kingdom hold a unique place in Nigeria’s rich cultural heritage, and their legacy will undoubtedly continue to be celebrated for many years to come.

Who is the Richest King in Nigeria?

Oba Obateru Akinruntan is a wealthy Nigerian businessman and traditional ruler who holds the title of “Olugbo of Ugbo.” Born in 1950, he has made a name for himself in the oil and gas industry and is the founder of Obat Oil, a leading privately held oil company in Nigeria. With over 50 gas stations across Nigeria and one of the largest tank farms in Africa, Obat Oil is a major player in the industry.

In addition to his business ventures, Oba Obateru Akinruntan is known for his extravagant lifestyle, owning several luxury cars including a custom-built 2012 Rolls Royce, and reportedly wearing a wristwatch worth $1 million. In 2014, Forbes estimated his net worth at $300 million, making him the richest king in Nigeria and the second richest monarch in Africa, behind the King of Morocco.

As the traditional ruler of Ugbo, Oba Obateru Akinruntan is highly regarded by his people and holds significant influence in his community. He is also respected among other traditional rulers in Nigeria and is actively involved in cultural and social initiatives in the country.

Top 10 Richest Kings in Nigeria 2022

Here is the list of the top 10 richest kings in Nigeria in 2022:

S.No.	King	Name
1	Oba Obateru Akinrutan	The Olugbo of Ugbo
2	Sa’adu Abubakar	The Sultan of Sokoto
3	Lamido Sanusi Lamido	The Former Emir of Kano
4	Oba Adeyeye Ogunwusi Enitan	The Ooni of Ife
5	Oba Ewuare II Ogidigan	The Oba of Benin
6	Nnaemeka Alfred Ugochukwu Achebe	The Obi of Onitsha
7	Oba Lamidi Adeyemi	The Alaafin of Oyo
8	Oba Babatunde Aremu Akiolu	The Oba of Lagos
9	Godfrey Emiko	The Orlu of Warri
10	Benjamin Ikenchuku Keagborekuzi I	The Dein of Agbor

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