The richest kings in Nigeria

30 most profitable investment opportunities in Nigeria
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The richest kings in Nigeria

30 most profitable investment opportunities in Nigeria

Nigeria is a country with great value for its culture and heritage. The West African giant is blessed with diverse cultures and traditions with many kings and traditional rulers. These kings and traditional rulers have lots of assets and wealth in their possessions. From different regions of the nation and across various ethnic groups, you can find some of the richest kings in Nigeria. 

This article will be talking about the wealthiest kings and traditional rulers in Nigeria. We will also talk about their worth, assets, and source of income. Read this article to the end to gather enough facts about these rulers.


10 Richest Kings in Nigeria

Nigeria has many kings and rulers due to the ethnic diversity of the country. This section is going to be highlighting the richest kings in Nigeria. Below are the wealthiest traditional rulers in Nigeria.


Top 10 richest kings in Nigeria

  1. Oba Fredrick Obateru Akinrutan
  2. Sultan Sa’adu Abubakar
  3. Oba Adeyeye Ogunwusi Enitan
  4. Oba Ewuare II Odidgan
  5. Nnaemeka Alfred Achebe
  6. Oba Lamidi Adeyemi
  7. Oba Rilwan Aremu Akiolu
  8. Godfrey Emiko
  9. Aminu Ado Bayero
  10. Benjamin Ikechukwu Keagborekuzi I


Oba Fredrick Obateru Akinrutan (The Olugbo of Ugbo)

Fredrick Obateru Akinrutan is known as the richest king in Nigeria. He is the traditional ruler of the Ugbo kingdom in Ondo, South-west Nigeria. The 68-year-old has an array of wealth from thriving businesses across the country. 

The monarch has investments in the oil and gas sector and his other assets in real estate developments. Oba Obateru’s net worth, according to Forbes, is estimated to be around $300 million. This figure makes him the richest king in Nigeria at the moment.


Sultan Sa’adu Abubakar (Sultan of Sokoto)

Sultan Sa’adu Abubakar is the traditional head of the Sokoto caliphate in the Northern part of Nigeria. He is also one of the richest kings in Nigeria at the moment. The 66-year-old king is the ruler of over 60 million Muslims across Northern Nigeria. 

The monarch is also a former military officer wimany a reputation for defending the nation. Sa’adu is one of the wealthiest traditional rulers in the country, with a net worth of about $100 million.

His assets come from his investments locally and outside the country’s shores.


Oba Adeyeye Ogunwusi Enitan (Ooni of Ile-Ife)

Oba Adeyemi Ogunwusi is the traditional leader of the Ile-Ife Kingdom in the Yoruba state of Osun state. The King is also a powerful ruler as he rules one of the oldest kingdoms in the Yoruba empire. He is equally rich as he owns assets from various investments in Nigeria and abroad. 

The Ooni of Ile-Ife is a veteran in accountancy and is an associate of the Institute of chartered accountants in the country. Oba Adeyeye is roughly worth $70 million in net worth, according to Forbes. The traditional ruler is only 47-years-old.


Oba Ewuare II Odidgan (Oba of Benin)

Oba Ewuare is the traditional head of the Benin Kingdom in Southern Nigeria. He is also among the richest kings in the country. The 68-year-old monarch is very educated with a degree in Economics from the University of Wales. He also holds an M.Sc in Public Administration from Rutgers University in New Jersey, USA. The Oba of Benin also had stints as an Ambassador to a few European countries.

The monarch is very respected across the country, with his wealth coming from his investments both locally and Internationally.  Oba Ewuare is said to be worth around $65 million, according to Forbes. 



Nnaemeka Alfred Achebe ( Obi of Onitsha)

The Obi of Onitsha, Nnaemeka Alfred Achebe, is among the richest kings in Nigeria. At 80, Nnaemeka Alfred has loads of experience and wealth from working in the Petroleum Industry, Banking sector, and International breweries. He is currently the traditional ruler of Onitsha, Anambra state. 

Nnaemeka has been the ruler of the Onitsha kingdom for almost 20 years now. His net worth is estimated to be around $50 million.  He is also the Chancellor of the Ahmadu Bello University in Zaria after filling a similar role previously in Kogi state.


Oba Lamidi Adeyemi ( Alaafin of Oyo)

Oba Lamidi Adeyemi is the famous and oldest king of the Oyo kingdom in Oyo State. The traditional head has been the Alaafin of Oyo since 1970, over the last 40 years. The Alaafin of Oyo is one of the wealthiest kings in Nigeria. He has experience as an Insurance Clerk and also boasts of many assets. 

Oba Lamidi Adeyemi is currently 83-years-old and is estimated to be worth $40 million, according to Forbes.


Oba Rilwan Aremu Akiolu (Oba of Lagos)

Oba Rilwan Aremu is the king of Lagos, Nigeria’s most populous state. The traditional ruler is also one of the richest kings in Nigeria. The monarch has a degree in Law from the University of Lagos and experience in serving the Nigerian Police Force for over 30 years. 

With a networth of about $40 million, the 78-year-old is among the top 10 wealthiest kings in Nigeria.


Godfrey Emiko (Olu of Warri)

Godfrey Emiko is the leader of the Itsekiri people of the Warri Kingdom. The 65-year-old is one of the richest kings in Nigeria, with massive wealth from the Petroleum industry. The state is known for its large deposit of Crude oil.

The Olu of Warri is estimated to be worth over $30 mi billion, according to Forbes.


Aminu Ado Bayero (Emir of Kano)

Aminu Ado Bayero is the traditional ruler of the Kano state in Northern Nigeria. Bayero is the 15th Emir of Kano and was crowned after former emir Lamido Sanus was dethroned in 2019. The 61-year-old studied Mass Communication at the Bayero University in Kano. He also went to Flying College, Oakland, California. 

The Emir of Kano has an estimated net worth of $20 million.


Benjamin Ikechukwu Keagborekuzi I (Deign of Agbor)

Only 44-years-old, Benjamin Ikechuck is the youngest Nigerian traditional ruler. The young ruler is also a Chancellor in one of Nigeria’s best Universities, the University of Ilorin.

Benjamin Ikenchuckwu has an estimated net worth of $10 mil am making am, making him among the top 10 richest kings on the list.

These are the top 10 richest kings in Nigeria. Next up, we will be looking at how much kings in Nigeria are paid.


How much do Kings earn in Nigeria

The salary of the traditional rulers in Nigeria differs from one another. Kings earn differently concerning their regions. The Emir of Kano gets roughly N2 million aside from his allowances. The obas in Yorubamaked make an estimated N700 000 to N3 000 000. The Kings in the south get about N500 000 to N2 000 000. Other Kings across Nigeria earn at least N300 000 or above.

The salaries are paid to the traditional rulers according to their ranks. The Emir of the Northern Kano State earns the highest as he rules a large region of the North.


How many Traditional Rulers does Nigeria have?

Nigeria has between 1 500 to 2 000 kings and monarchs leading the villages and small communities across the countries. Since the country practices a federal system of government, the Kings and rulers are only to rule in their territorial kingdoms. 


Who is the Most Powerful King in Nigeria?

There are many kings across the countries from different tribes and ethnic groups. Each of them has its prestige and mantle within its respective areas. Here is a list of the 10 most powerful kings in Nigeria.

  • Emir of Kano
  • Alaafin of Oyo
  • Sultan of Sokoto
  • Ooni of Ile-Ife
  • Dein of Agbor
  • Oba of Benin
  • Oba of Lagos
  • Olu of Warri 
  • Obi of Onitsha
  • Olubadan of Ibadan


So, here we have it! The richest kings in Nigeria. These rankings are based on their assets and general net worth. The salaries of these traditional rulers are one of their sources of revenue alongside their other investments. These powerful kings also have some ranking among them. 

This article has covered what you need to know about the wealthiest traditional rulers of Nigeria. Want to learn more about this topic? Feel free to check out our Frequently Asked Questions and Answers sections below. 


Frequently Asked Questions and Answers

Who is the richest king in Yoruba land?

The richest king in Yoruba lands across the country is Obateru Akinrutan. Theban is worth an estimated $300 million through investments in Petroleum and other ventures. 


Does the Alaafin of Oyo own a private jet?

The Alaafin of Oyo is among the top 10 richest traditional rulers in Nigeria. He also owns a private jet who mainly uses it for his official business travels. 


Does Nigeria have a royal family?

Nigerian traditional rulers stopped having any constitutional authority as far back as 1963conventionaltional heads and kings now rule over the villages and communities in their localities.


Who is the older king on a throne in Nigeria?

Oba Sikiru Kayode Adetona was cred the king of the Ijebu kingdom in 1960. He is currently the longest-serving monarch alive. Oba Sikiru Kayode is 87 years old at the moment.


Which king has the most beautiful Palace in Nigeria?

The Oyinoyi of Ebiraland’s Palace is regarded as the most beautiful in Nigeria. It is also the second most beautiful palace on the continent. The Palace belongs to the Ebira tribe of Kogi state. 

The Sokoto Caliphate is second in appearance among the Palaces in Nigeria. The Benin Palace and the Ooni of Ile-Ife’s Palace are also among the most beautiful Palace in Nigeria. 


Check Out The Top 10 Richest Kings in Nigeria


With an excellent value for its culture and traditions, Nigeria has some of the wealthiest and most well-paid traditional rulers in West Africa. These kings and rulers also have investments in other sectors such as Petroleum, Real estate, etc. Their businesses and titles have earned them a lot of fortune, with most of these rulers worth millions of dollars in assets. 

So, that’s all you need to know about the richest kings in Nigeria. This article has also provided you with their net worth and source of income. 


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Originally posted 2022-02-11 01:50:15.

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