This article is a compilation of the top 10 richest kings in Nigeria this 2023, their cars, and their net worth. It will interest you to know that the majority of the traditional rulers featured in this list are first class kings in Nigeria and they are super wealthy. We have given the net worth of these traditional monarchs in the country in United States Dollars and its Nigerian Naira equivalent in order for you to understand in the local sense to what extent their wealth spans.
Traditional rulers are very well respected in Nigeria, and before the advent of colonial rule, many of the ancestors of these monarchs wielded real power among their subjects, who in turn, elevated them to godlike statuses and revered them for their extraordinary leadership abilities. In recent times, many years into independent Nigeria, and with the present democratic system of government being practiced, the constitution has greatly limited the powers of these kings but their respect and following remain intact.
While many kings in Nigeria do not possess real power, they are recognized by the Federal and State governments in the country as the custodians of the culture and traditions of their people and enjoy the support of the government of which many of them benefit from financially. We will focus our attention at the wealth of these Royalties as many of them possess a chain of businesses and investments in and out of the country, and they own a collection of expensively assembled luxury cars in their fleet.
If you have ever wondered who the richest kings in the country are today, and their net worth, and also what kind of cars they drive, you are welcome as we will together, unravel 10 of the most affluent of them all in Nigeria as we proceed with article below.
TOP 10 RICHEST KINGS IN NIGERIA 2023, THEIR CARS AND THEIR NET WORTH
The following are the top 10 richest Kings in Nigeria this 2022. Their cars and net worth in US Dollars are well captured:
OBA OBATERU AKINRUNTAN – THE OLUGBO OF UGBO KINGDOM ($300 MILLION)
The richest king in Nigeria this 2023 is Oba Fredrick Obateru Akinrutan, the current Olugbo of Ugbo Kingdom that is located in Ondo State in the South-Western geopolitical zone of Nigeria. He is a business mogul and the founder of Obat Oil, an indigenous oil company that ranks as Nigeria’s largest and leading oil privately held company.
According to Forbes ranking in 2014, Oba Obateru Akinrutan is worth a mammoth $300 million, which is equivalent to ₦114 billion in our local Nigerian currency. When it comes to car collections, the Olugbo of Ugbo is certainly one that has a very high taste.
He is the proud owner of a 2014 Bentley Mulsanne which is valued at over ₦100 million, and he also owns a customized Rolls Royce 2012 model luxury car that was built to the standards of that of the Queen of England, among other classy cars in his fleet. He is a true definition of what it means to be royal and wealthy.
MUHAMMADU SA’AD ABUBAKAR IV- THE SULTAN OF SOKOTO ($100 MILLION)
The second richest king in Nigeria presently is His Eminence, Muhammadu Sa’ad Abubakar IV, the Sultan of Sokoto, and the religious leader of all Muslim faithfuls in the country. He is a first class monarch and he ranks as the most powerful king in the northern part of the country and is among the most powerful traditional rulers in Nigeria overall.
Muhammadu Sa’ad Abubakar’s net worth is set at $100 million, which is equivalent to ₦38 billion in our local Nigerian currency. The Sultan of Sokoto is the the leader of the Qadiriyya sufi order, which is the most important Muslim position in Nigeria and senior to the Emir of Kano, who is the leader of the most populous Tijaniyya sufi order. He is also the head of Jama’atu Nasril Islam, that is, the Society for the Support of Islam, and President-General of the Nigeria Supreme Council for Islamic Affairs (NSCIA).
The current Sultan of Sokoto has good taste for luxury cars and one of the most impressive in his fleet is his 2017 Rolls Royce.
MUHAMMADU SANUSI II – THE FORMER EMIR OF KANO ($80 MILLION)
Sanusi Lamido Sanusi, is the former Emir of Kano (2014-2020). He is also known by his regnal name, Muhammadu Sanusi II, and he was the governor of the Central Bank of Nigeria between 2009-2014.
Although, no more the reigning monarch of Kano, he is still a very popular figure, and currently, he is the third richest royal father in Nigeria today with an estimated net worth of $80 million, which when converted to Nigerian Naira, stands at a whopping ₦30.5 billion.
Before ascending the throne of his fathers, Sanusi Lamido Sanusi made his name as a reputable banker and grew in his professional career to become the governor of the Central Bank of Nigeria. During his time as the CBN governor, he became very popular for many policies that positively impacted the country’s economy and improved our banking systems, receiving national and global recognition for his work.
As Emir of Kano, he was the second most powerful traditional ruler in the northern part of Nigeria after the Sultan of Sokoto, and was very much loved and revered by his people. Muhammadu Sanusi II was often critical of the Kano State Government over “misplaced priorities”, citing how the State Government was poorly run during his reign, something that was not taken too kindly by the governor of the State.
Several attempts were made by the Kano State government to weaken his powers until he was deposed by the State government, a controversial move under the Ganduje administration over what they termed “insubordination” and “total disrespect” of the institutions and the governor’s office. The former Emir of Kano was reportedly paid ₦14 million annually during his six-year reign and this significantly boosted his net worth.
Muhammadu Sanusi II also has an impressive collection of luxury cars in his fleet, chief of which is his Rolls Royce which is worth several millions of dollars.
OBA ADEYEYE ENITAN OGUNWUSI, OJAJA II- THE OONI OF IFE ($70 MILLION)
Oba Adeyeye Enitan Ogunwusi, Ojaja II, is the current Ooni of Ife and the fourth richest king in Nigeria currently worth an estimated $70 million which when converted to Nigerian Naira, stands at ₦27 billion. He is a first class monarch and a very influential royal father in the country today. As Ooni of Ife, he sits on the throne of Oduduwa, the progenitor of the Yoruba race.
The current Ooni of Ife is also the Chancellor of the University of Nigeria Nsukka, one of the top top universities to study medicine and surgery in the country. He is 51st Ooni of Ife, having taken over from his predecessor, Oba Sijuwade who died on July 28, 2015 in a London Hospital.
His Imperial Majesty, Ojaja II is a graduate of Accountancy and a certified member of the Institute of Chartered Accountants of Nigeria (ICAN) and of the Institute of Management. He is also a real estate developer, owning numerous landed properties, some of which are located in the Lekki area of Lagos State.
He was involved in the development of the Northern Foreshore Estate, Cityscape International Limited’s Buena Vista project in Lekki, Primewaterview Limited’s projects, Westcom Limited’s projects, and the Ajaokuta Steel’s and Delta Steel’s resuscitation projects
Prior to his appointment as the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi was the Managing Director of Howard Roark Gardens Limited which undertook the multi-million naira Jacob Mews Estate project in Yaba and the Lakeview real estate development in Lekki, Lagos State.
The Ooni of Ife is also a car lover and he owns some expensive luxury vehicles in his fleet, some of which include a 2011 model Rolls Royce Phantom, a Mercedes Benz S550 and 2 Bentley cars.
OBA EWUARE II – THE OBA OF BENIN ($60 MILLION)
Omo N’Oba N’Edo Uku Akpolokpolo, Ewuare II, is the 40th Oba of Benin, succeeding his father Oba Erediauwa I at the time of his death in 2016. He is the fifth richest king in Nigeria currently worth an estimated $60 million which is equivalent ₦29 billion in Nigerian Naira. His authority and influence over the people of Edo State can never be overemphasised.
The monarch is a graduate of Economics at the University of Wales, UK and he holds a Masters degree in Public Administration from Rutgers University Graduate School, New Jersey, USA. Oba Ewuare II resides in a world class palace that can rival the standard of many palaces in Africa today, everything about him shows real class befitting of his status as a first class king in Nigeria.
The Oba of Benin has a number of luxury cars in his fleet, chief of which is his 2016 model Rolls Royce Phantom that is reportedly worth over ₦150 million.
IGWE NNAEMEKA ALFRED UGOCHUKWU ACHEBE – THE OBI OF ONITSHA ($50 MILLION)
Igwe Nnaemeka Alfred Achebe is a first class king in Nigeria and the 21st Obi of Onitsha, in Anambra State, the South-Eastern part of the country. He is worth an estimated $50 million which is equivalent to ₦19 billion, making him the sixth richest monarch in Nigeria.
The current Obi of Onitsha has been the Chancellor of Ahmadu Bello University, Zaria since 2015, and prior to that, he was the Chancellor of Kogi State University. He currently serves as the Chairman of the board of Directors of Unilever Nigeria, and the Chairman of International Breweries (ABInBev) Nigeria.
Before his accession to the throne of his fathers in Onitsha, in 2002, he had a long and distinguished career in the Royal Dutch Shell Group where he served as Director in various companies in the group. Outside Shell, Obi Achebe has held positions on the governing councils of the Petroleum Training Institute, Effurun, and the Nigerian Employers’ Consultative Association.
In corporate life, the Obi of Onitsha was Chairman of Diamond Bank Plc (the Bank has since been taken over by Access Bank), and the Universal Insurance Plc. He is currently the Chairman of Intafact Beverages Limited (SAB-Miller), and Omak Maritime Limited.
Igwe Nnaemeka Alfred Ugochukwu Achebe, the Obi of Onitsha, just like many other wealthy traditional rulers in Nigeria, is a lover of luxury cars and he currently owns a 2016 model Rolls Royce car valued at over ₦100 million.
OBA LAMIDI OLAYIWOLA ADEYEMI III- THE ALAAFIN OF OYO ($40 MILLION)
Oba Lamidi Olayiwola Adeyemi III, is the current Alaafin of Oyo, and the seventh richest king in Nigeria, worth an estimated $40 million which is equivalent to ₦15.2 billion in Nigerian currency.
The Alaafin of Oyo is the rightful heir to the throne of the historic Old Oyo Empire, which had its capital in Oyo Ile and at the height of its powers, stretched all the way to Benin Republic and some parts of Togo. He is the second most powerful king in Yorubaland after the Ooni of Ife who seats on the throne of Oduduwa, the ancestor of the Yoruba race.
His Imperial Majesty, Oba Lamidi Adeyemi III, Iku Baba Yeye, the Alaafin of Oyo is very well known for his flamboyance as well as his love for beautiful women which is evident in the number of wives he has married thus far. The Palace of the Alaafin of Oyo has over 200 buildings and is recognized as a historical monument by both foreign and local experts.
When it comes to cars in his possession, trust the Alaafin to be up there with the rest of the many first class kings in the country in terms of taste. He loves SUVs, owns a Toyota Land Cruiser Jeep, a Lexus GX 470 as well as a stretched Limousine to mention but a few.
OBA RILWAN BABATUNDE OSUOLALE AREMU AKIOLU – THE OBA OF LAGOS ($40 MILLION)
Oba Rilwan Akiolu is the reigning Oba of Lagos and the eighth richest king in Nigeria, also worth an estimated $40 million, which is ₦15.2 billion when converted to Nigerian Naira. He resides on the Island of Lagos at Iga Idungaran, Idumota, and his Palace has been in existence at the same location since the 15th century, undergoing numerous transformations till date.
Prior to being Oba of Lagos, he studied Law at the University of Lagos, Akoka, where he received his Bachelor of Laws degree (LL. B). He served for 32 years in the Nigerian Police Force, entering the force in 1970, serving in various capacities and was promoted to the rank of Assistant Inspector-General (AIG) of Police in 1999, and was active until his retirement in 2002. He is a member of the Nigerian Institute of Management and a fellow of the Nigerian Law School.
Oba Rilwan Akiolu owns a number of luxury cars, chief of which is a 2016 Mercedes-Benz S550 that is valued at over ₦34 million. The monarch is a first class king in Nigeria.
OGIAME ATUWATSE III- THE OLU OF WARRI ($30 MILLION)
Ogiame Atuwatse III is the current traditional ruler of Warri Kingdom in Delta State, he is the 21st Olu of Warri. He was born Utieyinoritsetsola Emiko, also known as Tsola Emiko on April 2, 1984 to Olu Atuwatse II, the 19th Olu of Warri and Gladys Durorike Emiko in Warri. He is also a descendant of Olu Akengbuwa. He was crowned the 21st Olu of Warri on Saturday August 21, 2021 at Ode-Itsekiri succeeding his uncle, Ogiame Ikenwoli I, the 20th Olu of Warri. He is worth an estimated $30 million which is equivalent to ₦11.4 billion.
BENJAMIN IKENCHUKU KEAGBOREKUZI I – THE DEIN OF AGBOR ($10 MILLION)
His Royal Majesty, Benjamin Ikenchuku Keagborekuzi I, the reigning Dein of Agbor is the tenth richest king in Nigeria and the last but not least on our list. He is worth an estimated $10 million which equates to ₦4 billion in Nigerian Naira.
He earned multiple degrees and certificates while he was away studying in the United Kingdom and on his return, he was appointed the Chancellor of the University of Ilorin, becoming the youngest ever Chancellor in the University’s history, a position he held between 2006-2015.
Benjamin Ikenchuku Keagborekuzi I has many cars in his fleet, he has been spotted driving a black 2015 model Mercedes Benz S550 Maybach which is worth over ₦65 million.