Top 10 Richest Politicians in Nigeria in 2024

It is not a secret that Nigerian politicians are incredibly rich. Most of them own private jets, and their children attend the best schools in the world and have the most expensive lifestyles.

All Nigerian politicians are rich, and you might be wondering who the richest are. In this article, I will outline a list of the ten richest Nigerian politicians and their estimated net worth.

Richest Politicians in Nigeria in 2024

richest politicians in nigeria

1. Chief Bola Ahmed Adekunle Tinubu

Estimated net worth: $8.4 billion

Chief Bola Ahmed Adekunle Tinubu is the 16th and current president of Nigeria, and currently the richest politician in Nigeria, from what can be estimated from his net worth. Before becoming the president of Nigeria, Tinubu had a thriving political career. He was also the governor of Lagos State from 1999 to 2007.

Born in the year 1952, Tinubu spent his early life in southwestern Nigeria, before moving to the United States where he studied accounting at Chicago State University. He was employed by Mobil Nigeria when he returned to Nigeria in the early 1990s. He entered politics in the year 1992 under the banner of the Social Democratic Party as a Lagos West senatorial candidate.

2. Ibrahim Badamasi Babangida

Estimated net worth: $5 billion

Second on the list is Ibrahim Badamasi Babangida, a retired general and the 8th president of Nigeria. He served as the military president of Nigeria after orchestrating a coup d’etat against Muhammadu Buhari in 1985. He served for 8 years until his resignation in 1993.

He was born in 1941, and after completing his primary and secondary education, joined the Nigerian Army in 1962. He became the Commanding Officer of 1 Reconnaissance Squadron in 1964 and held the position for two years.

He was posted to the 1st Division under the command of General Mohammed Shuwa during the civil war. He became commander of the 44 Infantry in 1968. After several promotions, he became the commander of the Nigerian Army Armored Corps in 1975.

3. Dr. Patrick Ifeanyi Ubah

Estimated net worth: $1.7 billion

Born in the year 1971, Dr. Patrick Ifeanyi Ubah is a Nigerian politician, entrepreneur, and businessman. He is currently a member of the Nigerian Senate representing Anambra South Senatorial District. He was declared the winner of the Anambra South Senatorial elections in 2019 under the Young Progressive Party (YPP) but later defected to the All Progressive Congress (APC).

He started as an exporter of motor tires and spare parts, majoring in West Africa before expanding to some European countries. He founded Capital Oil (CCO) in 2001 which he is the current CEO of. He is also the founder of The Authority Newspaper and the owner of Ifeanyi Ubah F.C.

4. Chief Olusegun Aremu Obasanjo

Estimated net worth: $1.6 billion

Born in the year 1937, Olusegun Obasanjo is a retired military officer who served as the head of state of Nigeria from 1976 to 1979. He later became the president of Nigeria under the democratic regime from 1999 to 2007.

He joined the Nigerian military in his youth specializing in engineering, and rose to the rank of major. He played a major role in the Nigerian Civil War and staged a Coup together with Murtala Muhammed against the Johnson Aguiyi-Ironsi military regime in 1975. He became the Nigerian head of state in 1976 after the assassination of Murtala Muhammed.

5. Atiku Abubakar

Estimated net worth: $1.4 billion

Atiku Abubakar ran for president 6 times and has been unsuccessful each time. The fact that he still ranks high among the richest politicians in Nigeria is a testament to his vast wealth.

He is a Nigerian politician and businessman born in the year 1946. He served as vice president from 1999 to 2007 during the tenure of Olusegun Obasanjo. He ran as governor of Adamawa state 3 consecutive times in 1990, 1996 and 1998.

It is interesting to note that Atiku Abubakar almost did not become the influential politician that he is today. His father was opposed to the Western educational system and prevented Atiku from attending school until he was discovered by the government. His father spent a few days in jail until he was bailed, and then Atiku began primary school at the age of 8.

6. Owelle Rochas Anayo Okorocha

Estimated net worth: $1.4 billion

Born in 1962, Owelle Rochas Anayo Okorocha is currently the Senator representing Imo West senatorial district at the 9th Nigerian Senate. He was also the former governor of Imo State.

After secondary school, he obtained a diploma and master’s in Public Administration from the University of Jos. In 2011, he contested for the Imo State governor position under the All Progressive Grand Alliance.

7. Orji Uzoh Kalu

Estimated net worth: $1.1 billion

Orji Uzoh Kalu was the former governor of Abia State (from 1999 to 2007), and is currently the senator representing the Abia North Senatorial District. He is both a businessman and a politician. He is the chairman of SLOK Holding, the Daily Sun and New Telegraph newspapers in Nigeria.

He was born in 1960 and began his business venture with only $35 that he borrowed from his mother. He began trading palm oil and then expanded to buying and reselling furniture on a large scale. He established SLOK Holding which is a conglomerate that consists of several successful companies.

In 1986, he became the first Nigerian to receive the National Merit Award at the age of 26 from President Ibrahim Babangida.

8. Ahmadu Adamu Mu’azu

Estimated net worth: $895 million

Ahmadi Adamu Mu’azu was the former governor of Bauchi State who served from 1999 to 2007. Born in 1955, Mu’azu received his Bachelor of Science degree in Quantity Surveying from the School of Basic Studies at Ahmadu Bello University in Zaria.

9. Dino Melaye

Estimated net worth: $800 million

Dino Melaye formerly represented Kogi West Senatorial district as a member of the 8th Nigerian National Assembly. He also previously held the position of Chairman Senate Committee on Federal Capital Territory (FCT),  Abuja, and the Senate Committee Chairman in Aviation for a short time. In 2023, he was the spokesperson for Atiku Abubakar in the presidential election.

He was born in 1974 and obtained a degree in Geography from Ahmadu Bello University, Zaria.

10. Chibuike Rotimi Amaechi

Estimated net worth: $780 million

Chikuike Rotimi Amaechi was the former governor of Rivers State (2007 to 2015) and Speaker of the Rivers State House of Assembly (1999 to 2007). He served as the federal minister of transportation of Nigeria during Buhari’s tenure.

He was born in1965 and attended the University of Portharcourt where he earned a Bachelor of Arts degree in English studies and Literature.


error: Content is Read-Only!!