Ibrahim Babangida: Net Worth

Ibrahim Badamasi Babangida, simply known as IBB is arguably the richest Nigerian politician ever. He was very popular during the military regime as a “no nonsense” military man. He was the Chief of Army staff between January 1984 – August 1985; a position succeeded by Lt. General Sani Abacha. He left office (to some people, for good) in August 27, 1993, having annulled the elections held on June 12 that year. IBB was a key player in most of the military coups in Nigeria; and during his times in office, there was and there is still evidence of severe human rights abuses during his regime.

Ibrahim Babangida was born on August 17, 1941 in Minna, Niger State. His parents are Muhammad and Aisha Babangida. He attended the Provincial Secondary School, Bida.  After his secondary school, he joined the Nigeria army on December 10, 1962 and went ahead to attain military ranks such as the Second Lieutenant(1963), Lieutenant (1966), Captain (1968), Lieutenant Colonel (1970), Colonel (1973), Brigadier (1979), Major General (1983), and General (1987).


On September 6, 1969, he married Maryam (née King) Babangida (First Lady of Nigeria 1985-93) who was respected and commended for turning “First Lady” from just a title, to an office. They had four children together: Muhammadu, Aminu, Aishatu, and Halimatu. Maryam Babangida died from complications of ovarian cancer on December 27, 2009. IBB legalized the formation of political parties in 1989 but annulled the election MKO Abiola won in June 12, 1993; an annulment which caused so much trouble, the day “June 12” is still remembered today.

IBB is believed to have looted, during his regime as the military head of state, over $14 Billion earned during the 1992 Gulf War oil windfall. He is reported to own over 20 buildings (real estate investments) in different parts of the country and over 42 buildings (real estate investments) around the world. He owns a multi-million dollar mansion in Niger state.

He reportedly owns about 65% of Fruitex International Limited in London. He owns 24% of Globacam, the second biggest telecommunications company in Nigeria.

He’s reportedly worth a sum of $50 Billion.

16 thoughts on “Ibrahim Babangida: Net Worth”

  1. Best leader so ever
    the only leader that transform this country of our’s into a different this. people should stop bragging since he left the government what are the common new thing in the country
    may almighty Allah bless you, long life and prosperity

  2. IBB is simply a thief and a murderer. How can any sane mind explain the source of his humongous wealth? What was his total emolument in all his career even as Military President? Who killed Dele Giwa? The 419 scourge we’re all decrying today boomed under his regime ‘cos he deliberately allowed it to blossom so that eyes will not be on his looting and misrule. Why did he annul June 12 election, adjudged as the freest and fairest in our history? It’s good he’s on wheel chair today suffering karma. Posterity will never remember him kindly.

  3. His excellency General Ibrahim Badamasi Babangida. A
    legend and the best of all leaders I had ever seen,
    he ruled Nigeria with passion and succeeded in
    transforming the country socioeconomic religious and
    political. Baba bless your son with any amount to established a little business. my account number: 0053290503, Union Bank, name: Okunola Funminiyi Jeremiah. may Almighty Allah give you sound health and long life sir, I would be so glad if u can grant my request. love u sir

  4. His excellency General Ibrahim Badamasi Babangida. A legend and the best of all leaders that Nigeria produced he ruled Nigeria with passion and succeeded in transforming the country socioeconomic religious and political. The most attractive side of his leadership was carried All Nigerian ethnics along in respect of religion or sectional affiliation. and left the country intact as one entity. I congratulate you sir

  5. The reason he annoyed the election of june 12 is best known to him i just some day he throws light into it for we the younger generation to learn from god blx, “api salla”!

  6. I think every Nigerian citizens think the same, they have the same inclination, who ever go to the higher level of politics will steal money as they wanted

  7. Hmmm people that have this huge amount of money u alone do you think that you will enter janna(paradise)? wlh sam sam indai baku taimaka mana ba dan muma munasan kudin kasarmu abamu kawai

  8. Plz my big daddy and friend Gen ibramhim badamasi babangida, our great Gen of our time, want to thank God for ur life and his blessin upon ur life. Plz sir i need your help financially cum bless ur son and my God will keep increasing u with long life. Acct name uche nwachukwu, acct number 0045432660 bank name access bank (savings acct). Plz help ur friend and son, to enable start any little business. God bless u sir

Leave a Comment

error: Content is Read-Only!!