It takes a lot of money to maintain royal prestige; the richest kings in Nigeria are some of the royal fathers who ensure that royalty is accorded the respect and reverence that it should rightly get. Before the coming of the British, Nigeria was actually a group of kingdoms and ethnic identities ruled by kings, some of whom had absolute power.
While the colonization of the country means that the kings had to give up their power to the rule of law and constitution of the country. They never gave up their eminence and prestige.
Nigeria’s richest kings are some of the wealthiest on the continent over all; these custodians of tradition and culture deserve the plaudits and accolades they get because they show the world the best part of being African.
Top 10 Richest Kings in Nigeria 2023
1. Oba Obateru Akinrutan – The Olugbo Of Ugbo
Net worth: $300 Million
Oba Obateru Akinrutan is the Olugbo of Ugbo; the Paramount King of Ugbo Kingdom, in Ilaje local government area of Ondo State, which is located in southwestern Nigeria. The King is generally called “Olugbo” or “Oghone.”
Oba Obateru Akinrutan, the Olugbo of Ugbo is the richest king in Nigeria. He is a forbes rated business mogul, which diversified interests across Nigeria and beyond.
He is the owner of Obat Petroleum, one of Nigeria’s largest private oil trading companies. Aside from that he also has extensive investments in real estate; including estates in the Lekki area of Lagos.
He famously drives a Rolls Royce Cullinan; which is built to the same exact specifications as the Queen of England’s.
2. Sa’adu Abubakar – The Sultan Of Sokoto
Net worth: $100 Million
Sa’adu Abubakar, the Sultan of Sokoto, is the richest kings in Nigeria, as well as one of the most powerful monarchs in the country. Traditionally, the office of the Sultan of Sokoto is one of the most revered in the country; Sokoto is the traditional home of the Fulani people in Nigeria, and the root of several emirates surrounding the ancient city.
Sa’adu Abubakar, the Sultan of Sokoto, is a very wealthy ruler; he receives patronage from the government, from institutions, and from private individuals in the north. The Sultan Sokoto is also the spiritual head of the Muslims in Nigeria; he therefore receives patronage from all the Muslim associations in the country.
Sa’adu Abubakar, the Sultan of Sokoto also has a Rolls -Royce, which puts him in the distinct class of rulers in the country.
3. Oba Adeyeye Ogunwusi Enitan – The Ooni Of Ife
Net worth: $70 Million
Oba Adeyeye Ogunwusi Enitan, the Ooni of Ife, is one of the richest kings in Nigeria. Ife is an ancient town in present day Osun State, South west Nigeria. Ife is historically considered the birth-place of the Yoruba nation, and as such the Ooni of Ife is the father of all the people of Yoruba ethnicity- a very important man indeed.
Oba Adeyeye Ogunwusi Enitan is one of the prominent rulers in Nigeria; he lives a lavish lifestyle. He is always in the news; travelling touring and receiving important guests. He is always seen in white regalia, and followed by a large procession.
Oba Adeyeye Ogunwusi Enitan is the Chancellor of the University of Nigeria Nsukka, as well as an accomplished businessman with holdings in the real estate industry in Nigeria and beyond.
The Ooni of Ife makes his appearances in all white processions; even the cars are usually white. He owns a Rolls Royce, a Mercedes-Benz S550, as well as two Bentleys.
4. Oba Ewuare II Ogidigan – The Oba Of Benin
Net worth: $60 Million
Oba Ewuare II Ogidigan, is the 40th Oba of Benin. Before, the coming of the British the Benin Empire controlled Southern Nigeria. The Benin Empire fought against the British; the result of which was the dismantling of the Empire, but not the kingdom. The Oba of Benin is the most powerful and influential monarch in Southern Nigeria. Till date, many of the kings pay homage to him. Many of the kings in southern Nigeria also receive their staffs of office from the Oba of Benin.
The Oba Of Benin receives patronage from the government of Nigeria, he also receives patronage from private individuals of the realm. The Oba of Benin traditionally lives in a far away location until he is ready to be crowned. In the case of Oba Ewuare II Ogidigan; he grew up in London.
The palace of the Oba of Benin is a true royal residence; the great hall where the throne is located can take a large number of visitors. The palace of the Oba of Benin is one of the most visited historical sites in Sub Saharan Africa.
The Oba of Benin is a very reserved personality; he is only seen on rare occasions such as presidential visits or grand traditional festivities.
He owns an impressive fleet of cars; among them being a Rolls-Royce Phantom, which was gifted to him by another monarch.
5. Nnaemeka Alfred Ugochukwu Achebe – The Obi Of Onitsha
Net worth: $50 Million
Nnaemeka Alfred Ugochukwu Achebe is one of the richest kings in Nigeria; he is king of one of the richest and prosperous lands in the country, and he has an impressively diverse range of investments. Onitsha is an ancient city in Eastern Nigeria; just on the eastern bank of the River Niger. Onitsha is a vestige of the Benin Empire; one of the few Igbo Towns with such ties to the Benin Empire.
Nnaemeka Alfred Ugochukwu Achebe served as executive director at Shell Petroleum Development Company, and he is also the Chancellor of Ahmadu Bello University, Zaria. He has extensive investments in real estate, hospitality, and blue chip investments. He receives patronage from the government of Nigeria, as well as from institutions and private individuals.
The Obi of Onitsha drives a Rolls Royce, and has several other exotic vehicles. He resides in a palace in Onitsha; right in the center of the city.
6. Oba Babatunde Aremu Akiolu – The Oba Of Lagos
Net worth: $40 Million
Oba Babatunde Aremu Akiolu, the Oba of Lagos, is one of the wealthiest royals in the country. The Oba of Lagos is one of the traditional rulers in southwest of Nigeria. Lagos is one of the most populated cities in Nigeria, and the commercial capital of Nigeria and West Africa.
Eko as it was called when ruled by the Benin Empire was an agricultural settlement which quickly expanded when the British landed, and used it as a port.
Oba Babatunde Aremu Akiolu served the Nigeria Police Force for 32 years prior to becoming Oba. As Oba of Lagos he receives patronage from the government of Nigeria. He is very influential among the political class in Lagos; he is friends with Nigerian frontline politician Asiwaju Bola Ahmed Tinubu; and anybody seeking political office in Lagos is obliged to seek his support.
7. Aminu Ado Bayero – Emir Of Kano
Net worth: $20 Million
Aminu Ado Bayero is the 15th Emir of Kano. Kano is an ancient city; located in northern Nigeria. In terms of historical and cultural importance it ranks only second to Sokoto in northern Nigeria.
Aminu Ado Bayero ascended the throne on 9 March 2020, after his nephew Muhammad Sanusi II was deposed by the Governor Dr Abdullahi Umar Ganduje.
Before becoming Emir Of Kano, he was the public relations officer at Kabo Air, and at the same time he occupied several traditional positions such as Dan Majen Kano and district head of Dala. He was also chairman of the Kano emirate durbar committee.
8. Benjamin Ikenchuku Keagborekuzi I – The Dein of Agbor
Net worth: $10 Million
Benjamin Ikenchuku Keagborekuzi I, the Dein of Agbor, is the lifelong ruler of Agbor Kingdom, in Delta State, Southern Nigeria. Agbor is another vestige of the Benin Kingdom; in pre-colonial times, it was a part of the Benin Empire.
Benjamin Ikenchuku Keagborekuzi I spent some time in the United Kingdom studying multiple subjects and earning multiple degrees. He is the Chancellor of the University of Ilorin. As the Dein of Agbor he receives patronage from the government, and from private citizens.
People aiming for public office are also known to frequent his palace for endorsement. He has a fleet of exotic cars; notable among them being the Mercedes Benz S550 Maybach.
9. Ogiame Atuwatse – The Olu Of Warri
Net worth: $5 Million
Ogiame Atuwatse, the Olu of Warri, is a monarch of considerable influence in Nigeria. Warri is one of the largest cities in the oil rich Niger-Delta region of Nigeria. Warri is another of the Southern Cities with very close ties to the Benin Kingdom; before the coming of the British, it was part of the Benin Empire.
Ogiame Atuwatse, the Olu of Warri, is one of the youngest royals in office; he was born in 1984. Just like his father Godfrey Emiko, he is known to be a very calm and largely stays away from the public eye- another trait which is shared by the Benin monarch.
10. Adedotun Aremu Gbadebo III- Alake Of Egba Land
Net worth: $5 Million
Adedotun Aremu Gbadebo III- is the Alake Of Egba Land. Egbaland is located in Ogun State, Southwestern Nigeria. This is a place of distinct cultural history; the Egba are one of the most organized peoples in southern Nigeria; they have been that way for centuries.
Adedotun Aremu Gbadebo had a long and distinguished career as a military officer serving in the Nigerian army. Now as Alake of Egbaland; he is principal custodian of the culture of the Egba people.
He receives patronage from the government, from wealthy citizens, and from people intending to attain political office.
The richest kings in Nigeria are rulers of some of the biggest and most important kingdoms in the country. As far as Nigeria is concerned, some kings are more important than others.
First Class Kings are those that rule over what used to be independent kingdoms before the arrival of the British, and the subsequent colonization of Nigeria.
They receive patronage from the government, and depending on the amount of influence they wield; they also receive patronage from politicians, wealthy citizens, and organizations.