The economy of Nigeria is rated as the largest on the African continent. The country is home to some of the richest politicians in Nigeria and in the world but it is also home to some of the poorest people walking this planet. The country is known for widespread corruption which is a huge dent in the image of the largest black nation in the world. It is no secret that there is a lot of money being circulated in the corridors of power in Nigeria.
The ruling class in Nigeria use the opportunity of being in the office to enrich themselves and their friends and family. In Nigeria, it is common that once a politician becomes elected and resumes in the office he is elected into, in little time he or she would amass wealth. Even those appointed into office also accumulate wealth in no time. Lots of individuals accuse politicians of theft of public funds. Whatever the case may be, the fact still remains that quite a number of these politicians rank high on the list of the wealthiest people in Nigeria.
Top 10 Richest Politicians In Nigeria 2020
Details of the Wealthiest Politicians In Nigeria and Their Net Worth
1. Ibrahim Badamosi Babangida (IBB)
- Net Worth: $5 Billion
- Date Of Birth: 17th August 1941
Ibrahim Badamasi Babangida GCFR was born on the 17th of August 1941. He retired as a General in the Nigerian Army. He was also the President of Nigeria from 27th August 1985 to 26th August 1993. He was the 8th Head of State of Nigeria. He also served previously as the Chief of Army Staff from January 1984 to August 1985. He was a major player in the majority of the military coups that occurred in Nigeria. He was involved in military coups that occurred in July 1966, February 1976, December 1983, August 1985, December 1985, and April 1990. He took over from Muhammadu Buhari as Military Head of State on 27th August 1985. He is one of the most influential Nigerian politicians and he is without a doubt one of the richest. He is also famed annulling the June 12, 1993 elections which were won by Moshood Abiola. The election is adjudged to be the freest and the best election to have ever held in Nigeria. IBB is estimated to be worth about $5 billion dollars.
2. Ifeanyi Ubah
- Net Worth: $1.7 Billion
- Date Of Birth: 3rd September 1971
Ifeanyi Ubah is a Nigerian businessman and politician. The Nnewi native was already a multimillionaire before he went into politics. According to sources, he made his first million as a teenager when he was just nineteen years old. He is among the richest politicians in Nigeria. He has diverse business interests. He has business interests in mercantilism spare elements, real estate, oil and gas, transport, and quite recently, he acquired a soccer club and named the club Ifeanyi Ubah FC. His net worth is put at about $1.7 billion currently.
3. Olusegun Obasanjo
- Net Worth: $1.6 Billion
- Date Of Birth: 5th May 1937
Chief Olusegun Obasanjo, GCFR, Ph.D. was born on 5th May 1937. He is a former Nigerian Army general who was also civilian President of Nigeria from 1999 to 2007. He led the 4th republic in the country. He is fortunate to have served as Head of state twice. He served as a military ruler of the country from 13th February 1976 to 1st October 1979 and again as a democratically elected president from 29th May 1999 to 29th May 2007.
The Ogun state born politician popularly known as OBJ or Baba is one of the richest politicians in Nigeria. He owns the Otta Farms as well as several other businesses and investments within the country. It is also reported that he owns some oil blocks and some business stakes in some other countries of the world. Over the years, Chief Olusegun Obasanjo has accumulated wealth. He is valued to be worth 1.6 billion dollars.
4. Bola Ahmed Tinubu
- Net Worth: $1.5 Billion
- Date Of Birth: 29th March 1952
Chief Bola Ahmed Tinubu was born on the 29th day of March in the year 1952. He was elected as Senator representing Lagos West constituency in Lagos State, Nigeria in the year 1993. The election held just prior to a military take-over in December 1993. After the country returned to democracy, he was elected as governor of Lagos State, a position he held from 29th May 1999 to 29th May 2007. He is an influential member of the ruling party in Nigeria, the All Progressives Congress (APC) and he was very influential to the formation as well as the ascent to power of the party. He holds the chieftaincy titles of the Asiwaju of Lagos and the Jagaban of the Borgu Kingdom in Niger State, Nigeria. His net worth is put at $1.5 billion dollars.
5. Atiku Abubakar
- Net Worth: $1.4 Billion
- Date Of Birth: 25th November 1946
Atiku Abubakar is one of the most recognized Vice Presidents in Nigeria’s democratic history. He served as the country’s 11th VP under former President Olusegun Obasanjo from 1999 to 2007. Atiku Abubakar, GCON was born on 25th November 1946. He is a Nigerian politician, businessman, and a former customs officer. He served in the Nigeria Customs Service for twenty years and rose to the position of Deputy Director which was the second-highest position in the service back then. He retired from service in April of 1989 and took up full-time business and also politics. He ran for the office of governor in the old Gongola State now known as Adamawa and Taraba States in the year 1991 and for the Presidency in 1993.
Atiku Abubakar placed 3rd behind MKO Abiola and Babagana Kingibe in the Social Democratic Party (SDP) primaries. In 1998, Atiku was elected Governor of Adamawa State. While he was still Governor-Elect, Atiku was picked by the Presidential candidate of the People’s Democratic Party (PDP), Olusegun Obasanjo as his running mate. They then went on to win the elections in February 1999 were sworn in on 29th May 1999. He has a wide range of business interests. Atiku Abubakar owns a supply company and also the American University of Nigeria (AUN) which was founded in 2005. He has several other investments together with his property business. He is estimated to be worth $1.4 billion currently.
6. Owelle Rochas Okorocha
- Net Worth: $1.1 Billion
- Date Of Birth: 22nd September 1962
The current governor of Imo State in South Eastern Nigeria is ranked as one of the richest politicians in Nigeria as of today. He made his money in business before joining politics. He was born on 22nd September 1962. He is a Nigerian businessman, education philanthropist, and politician who hails from Imo State. He won the 6th May 2011 gubernatorial election held in Imo State and was also reelected for a second term on April 11th, 2015.
Okorocha’s first election into the office of governor was won on the platform of the All Progressives Grand Alliance (APGA) platform but his reelection was facilitated by the All Progressives Congress on whose platform he ran. On both occasions, Rochas was able to defeat his closest rival, then-incumbent governor Ikedi Ohakim and serving Deputy Speaker of the House of Representatives, Hon. Emeka Ihedioha, by a close margin of votes and, had to go for reruns on both occasions. Rochas Okorocha is a known philanthropist and is the founder of Rochas Foundation, a charity that comprises a number of special schools that are spread all over Nigeria. His foundation grants scholarship to the less privileged children in Nigerian society. Rochas Okorocha is estimated to be worth a whopping 1.5 billion dollars.
7. Orji Uzor Kalu
- Net Worth: $1.1 Billion
- Date Of Birth: 21st April 1960
Orji Uzor Kalu is the former governor of Abia State in Eastern Nigeria. He is ranked as one of the richest politicians in Nigeria currently. He is the chairman of Sun Daily and also New Telegraph. He has stakes in Enyimba FC of Aba which was a very successful club in the CAF competition in 2004 and 2005 winning the top honor of the flagship club competition on the African continent back to back. The club is the first Nigerian club to achieve this feat. Orji Uzor Kalu’s wealth is estimated to be around 1.1billion dollars.
8. Dino Melaye
- Net Worth: $800 Million
- Date Of Birth: 1st January 1974
The outspoken and highly controversial legislator is also on this list of richest politicians in Nigeria. He hails from Kogi state in North Central Nigeria and he is currently representing the good people of Kogi East at the upper arm of the Nigerian legislature. Senator Dino Melaye has often spoken out against the current administration in the country and this has led him jumping ship from the ruling party the APC back to his former party, the PDP. The very rich politician is known to own a fleet of exotic cars, motorcycles, and totally different properties all of which he flaunts regularly on social media. He is valued to be worth about $800 million.
9. Rotimi Amaechi
- Net Worth: $780 Million
- Date Of Birth: 27th May 1965
Rotimi Chibuike Amaechi is a former governor of the oil-rich Rivers State. He led the state from 2007 to 2015. He was formerly the Speaker of the Rivers State House of Assembly. After leaving office as governor, he was appointed Minister of Transportation in the current Buhari led government. His net worth is reported to be around 780 million dollars.
10. Senator Ben Murray-Bruce
- Net worth: $715 Million
- Date Of Birth: 18th February 1956
Senator Ben Murray-Bruce is well known as the chairman of Silverbird Group. He is a Nigerian business magnate and also a politician. He currently represents Bayelsa East Senatorial District in the National Assembly. Ben Murray-Bruce was born on the 18th of February 1956. He is quite famous on social media where he makes his thoughts about important issues known almost on a daily basis and he commands a large following on social media. He has been in the Nigerian entertainment business for decades and his Silverbird Group has been staging the highly popular and successful Most Beautiful Girl in Nigeria (MBGN) yearly for about three decades. His wealth is estimated to be around $715 million dollars.
CONCLUSION ON THE TOP 10 RICHEST POLITICIANS IN NIGERIA 2020
The politicians on this list are the very richest of all the ruling class in the country. They have made their money from various sources mostly politics and business.
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