Abisola SalahuBola Tinubu’s net worth, as well as his wealth and assets come under consideration in this post. As a man of great influence, Bola Tinubu will always be in the spotlight. This is the biggest political figure in South Western Nigeria; the de facto kingmaker, who has brought up several talented people into political prominence.
The Jagaban of Lagos has built the platform upon which several Governors, Ministers, and even a President and his Vice have come into the office. He has probably the biggest and most formidable political machine in the country, and as the National Leader of the All Progress Congress, he has one foot in the presidency.
Maintaining such a political machine requires vast resources; without money, it would be impossible to mobilize support for preferred candidates or to fund the huge logistics budgets it takes to participate in the electioneering process. But Bola Tinubu has money; from the list of assets below, he is one of the wealthiest politicians in Nigeria.
Bola Tinubu Net Worth 2022, Wealth And Assets
Bola Tinubu is estimated to be worth $9.4 Billion; making him the richest politician in the country. His wealth is tied to politics not because he receives money from the party; but because he is a politician who knows how to make money. He can teach how to make money without looting your state’s coffers. Just look at the following assets:
Alpha Beta
Alpha Beta is a consulting firm which receives all the tax on behalf of the Government of Lagos State. Remember that Lagos State recorded internally generated revenue amounting to N418.99bn in 2020, and has increased it by around 14% annually. Alpha Beta is therefore a multi billion dollar venture; considering that it has been in operation since the early 2000’s.
Unfortunately, not much else is known about the company, and its operations.
Loatsad Promo Media
Loatsad Promo Media is an outdoor advertising agency which has a huge share of the Lagos market; it owns most of the billboards in prominent places, including the Lekki Toll Gate. Loatsad Promo Media does not just do billboards; it does electronic billboards through which it does advertising in the form of digital and multi media content.
Loatsad is controlled by his son Seyi Tinubu who sits as the CEO of the company. Loadsad has also been acquiring other advertising companies, thus expanding the company.
The Nation Newspaper
The Nation Newspaper is one of the vibrant newspapers in the country. It was founded in July 2006, and has quickly risen to prominence in the country, especially in the area of political discourse. The company is headquartered in Mushin, Lagos, but has offices in other cities in the country.
The company is controlled by Vintage Press Limited; which is owned by Bola Tinubu. Aside from making money; this is also a major part of the Bola Tinubu’s political machine.
TV Continental
TV Continental is a very popular TV Station in Lagos; it is big on entertainment and news. The TV station was founded in 2012, and also syndicates its broadcasts on various satellite channels; including DSTV and Sky TV.
The TV station has some popular political shows; it is also a big part of Tinubu’s political architecture.
Radio Continental
Radio Continental is the radio arm of the media conglomerate of the same name. It is very popular across the state of Lagos for its breakfast shows, vibrant music, and political discourse. Radio Continental is also an important part of Bola Tinubu’s political framework.
Lekki Concession Company
This is an innovative idea as far as Nigeria is concerned; the country has never seen a private individual build public infrastructure under a concession agreement. The Lekki Concession Company built the beautiful roads in the Lekki Axis, and then built the toll gates in order to recoup the money invested.
The idea has worked beautifully; the idea is being replicated in many parts of the country. Lagos state government has now taken 75% ownership of the concession company; Tinubu’s stake is now unclear.
Falomo Shopping Center
Falomo Shopping Center is another concession idea; it was built by Afriland Properties; and they will operate it for about 50 years before transferring ownership to the Lagos State Government.
However, the company will still maintain a minority stake in the company, after the takeover. This is an impressive venture; it generates millions everyday as a major center of commerce. But this is not Tinubu’s only real estate venture.
Royal Garden Estates
Royal Garden Estates is located near Lekki Phase 2, and less than 2 minutes away from Victoria Garden City. This is an opulent estate; no, a city of its own; one full of posh mansions, and an above of the rich and powerful in Lagos. The city has its own security services, as well as its own water treatment facility. The city has spacious roads and is well lit.
Furthermore, Royal Gardens Estates has shopping centers, green areas, and everything else one would expect from an estate of this category.
It is operated by Trojan Estates Limited; which is controlled by Kunle Tinubu, the CEO; and Jubril Adewale Tinubu, the Director.
Skye Bank
Skye Bank is now defunct; it has been taken over by the government, and rebranded as Polaris Bank. However, this was Tinubu’s first taste of the lucrative financial services sector. It also handled the finances of Lagos State, and of the vast Tinubu Empire. Unfortunately, something went wrong and the bank was forced to close. But Tinubu has learned much from the Skye Bank venture.
The above are the assets that we know are owned by Asiwaju Bola Tinubu. However, there are other companies with whom he has been linked; although he has denied owning them, and no substantial evidence has emerged linking him to said companies.
Companies Supposedly Owned By Tinubu
Remita- A Financial Services Company
Lekki Oriental Hotel- A Five Star Hotel In Lekki; facing the waterfront.
Apapa Amusement Park
Tejuosho Market
Ikeja Shopping Mall
Renaissance Hotel
Maiyegun Land Project
Oando; one of the biggest indigenous oil companies is also said to be owned by Asiwaju Bola Ahmed Tinubu; although he has denied that claim. It is well known that the CEO is Wale Tinubu, but it has been said that he is not a relative of the Jagaban.
Other Sources Of Money For Tinubu
Many people do not know exactly how Political parties work; or that they are companies just like any other ventures. We do know, however, that Tinubu is the National Leader of the All Progress Congress, which has made N30 billion from the sales of nomination forms for the 2023 general elections.
The sharing formula for the revenues generated from said sales is not known. But it is reasonable to infer that the board of trustees; like major shareholders should get a share of the funds.
Bola Tinubu’s daughter is the Iyaloja of Lagos. She replaces her grandmother in that office. It is not clear how much money comes with that position; but aside from money; this position is also strategic for mobilizing support for political campaigns.
Tinubu’s wife Mrs. Oluremi Tinubu who was First Lady of Lagos for 8 years during Asiwaju’s tenure as Governor is a Senator representing Lagos Central Senatorial District at the Nigerian National Assembly.
The exact relationship between the Lagos chapter of the National Union of Road Transport Workers (NURTW) and the Jagaban is not known. However, this is a money-minting machine; and the people at the head of the Chapter have always been loyal to Tinubu.
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Conclusion
Bola Ahmed Tinubu is the richest politician in Nigeria; he has investments in Real Estate, Concession, Media, Advertising, Tax Collection, and of course politics.
The Jagaban is the first person to successfully build an empire around politics; our analysis even left out the fact that he probably receives some form of reimbursement from all the politicians he has brought up.