Richest Kings in Nigeria (2024)

Do you know who the richest kings in Nigeria are? If you do not know and would like to find out, read on.

A king is a male monarch of a sovereign state, community or ethnic group who inherits the position as a birthright or by selection. A king usually ascends the throne when the former king dies. When you think of our heritage, royal fathers, the custodians of our traditions, come to mind. Before the colonial master brought democracy, that reduced their role to ceremonial heads, kings held sway in various parts of Nigeria. Their words were law, and they lived in wealth and grandeur that befit royalty.

Today, most of the kings in Nigeria boasts of first-class education abroad, excellent careers or businesses before ascending the throne of their forebears. This post is a list of the richest kings in Nigeria. They are on this list because authentic sources like Forbes and other reliable websites have information on their wealth.

Richest Kings in Nigeria

Here are the richest Kings in Nigeria and their net worth

1. Olugbo of Ugbo, Oba Obateru Akinruntan

• Net worth: ₦108.2 billion

The richest king in Nigeria by all facts available is Obateru Akinruntan, the Olugbo of Ugbo. According to Forbes’s rating in 2014, Obateru Akinruntan came second in the ranking of the richest Kings in Africa with a net worth of $300 million next to King Mohammed VI of Morocco’s $2 billion.

Obateru Akinrutan was born in 1950 in Ondo state. In 2009, he became the king of Ugbo, a town in the Ilaje Local Government Area of Ondo state.

The king launched OBAT oil in 1981, which has grown to have more than fifty Petroleum filling stations, with one of the largest Oil Depots in Africa. He also invests in residential real estate in London and Nigeria, owns Febson Hotels, and a shopping mall in Abuja.

2. Sultan of Sokoto, Muhammadu Sa’ad Abubakar IV

• Net worth: ₦36.1 billion

The sultan of Sokoto is the next king in this list of the richest kings in Nigeria. Muhammadu Sa’ad Abubakar IV was a Brigadier General in the Nigerian Army before he was selected in 2006 to reign in place of Sultan Maccido, who had died.

His father was the seventeenth Sultan and ruled for over fifty years.

Muhammadu Sa’ad Abubakar IV is rich and powerful and the spiritual head of Muslims in Nigeria. He is also the President-General of the National Supreme Council for Islamic Affairs. The Sultan’s net worth is estimated to be $100 million.

3. Ooni of Ife, Oba Adeyeye Ogunwusi Enitan

• Net worth: ₦25.3 billion

In Yoruba land, the Ooni of Ife has a lot of power and is highly respected all over the Country. Oba Adeyeye Ogunwusi Enitan was born in 1974 and crowned Ooni in 2015.

He studied Accountancy at the Polytechnic Ibadan and qualified as a chartered accountant and is a member of the Institute of Chartered Accountants of Nigeria. The Ooni is also an associate of Accounting Technicians of Nigeria.

Oba Adeyeye Ogunwusi Enitan was in the real estate business before Kingmakers selected him as the Ooni of Ife. The Ooni is currently the Chancellor of the University of Nigeria, Nsukka. His estimated net worth is $70 million.

4. Oba of Benin, Ewuare II Eheneden Erediauwa

• Net worth: ₦21.70 billion

The Oba of Benin Ewuare II Eheneden Erediauwa was born in 1953 and was crowned king on 20 April 2016 as the fortieth Oba of Benin. He is the traditional head of the Benin kingdom and one of the most powerful kings in Nigeria.

He schooled abroad and graduated with a Degree in Economics from the University of Wales in the United Kingdom. The Oba holds a master’s degree in public administration from Rutgers University Graduate School in New Jersey, USA. His net worth is about $60 million.

5. Obi of Onitsha, Nnaemeka Alfred Ugochukwu Achebe

• Net worth: ₦18.1 billion

Nnaemeka Alfred Ugochukwu Achebe was born on 14 May 1941, and he is also one of the richest kings in Nigeria. The Obi schooled at Stanford University in the USA. Nnaemeka Alfred Ugochukwu Achebe became a king on 14 May 2002, as the Obi of Onitsha. He was later appointed Chancellor of Ahmadu Bello University, Zaria.

Nnaemeka Alfred Ugochukwu Achebe had worked as an Executive Director in shell Petroleum Development Company and the Banking sector. His net worth is around $50 million.

6. Alaafin of Oyo, Oba Lamidi Adeyemi

• Net worth: ₦14.6 billion

Lamidi Olayiwole III is the Alaafin of Oyo and is one of the most revered in Yoruba land in terms of influence. The kingmakers crowned him in 1970. Oba Lamidi is a flashy monarch and a polygamous man.

Before he became the Alaafin of Oyo, he was an Insurance clerk and a businessman. The oba serves Nigeria as the chancellor of the University of Sokoto. In terms of wealth, he has a net worth of about $40 million.

7 Oba Rilwan Babatunde Osuolale Aremu Akiolu of Lagos

• Net worth: ₦14.6 billion

Oba Rilwan Babatunde Osuolale Aremu Akiolu of Lagos is next in this list of the richest kings in Nigeria. He was born on 23 October 1943 and became the Oba of Lagos on 9 August 2003, and he is a first-class traditional ruler.

He studied Law at the University of Lagos and graduated with a Bachelor of Law degree. He worked as a senior ranking Police Officer and retired as an Assistant Inspector General of Police to ascend the throne.

Lagos is a massive city, yet his influence in Lagos is far-reaching. His net worth is about $40 million.

8. Olu of Warri, Godfrey Emiko

• Net worth: ₦10.8 billion

Godfery Emiko is the Olu of Warri, the traditional ruler of the Oil-rich Itsekiri land in Niger Delta.

He was a member of the ruling Traditional Council for years and became King of the Warri Kingdom at the death of his brother, king Ogiame Atuwase II in 2015. His estimated net worth is $30 million.

9. Obong of Calabar, Edidem Ekpo Okon Abasi Otu

• Net worth: ₦5 billion

Edidem Ekpo Okon Abasi Otu is one of the most revered Kings in Nigeria. In 2008, he ascended the throne as the Obong of Calabar, Natural ruler, Treaty King and Grand Patriarch of the Efik Kingdom.

Edidem Ekpo Okon Abasi Otu, obtained a diploma certificate in Telecommunications Engineering where he bagged the International Telecommunication Union best student award at the age of 24. The award conferment was made by late Nigerian Military Head of State; General Murtala Muhammed who was the minster of communications at the time.

He worked in Federal Ministry of Communications, then he moved to Telnet Nigeria Limited whose major client was Shell Petroleum Development Company of Nigeria. He is the Chancellor of Federal University of Agriculture, Abeokuta. His net worth is $14 million.

10. Dein Of Agbor, Benjamin Ikenchukwu Keagborekuzi I

• Net worth: ₦3.62 billion

Benjamin Ikenchukwu Keagborekuzi I  was born in 1977. At the death of his father, the King in 1979, the kingmakers crowned Benjamin Ikenchuku Keagborekuzi at the young age of two years and four months.  The young Obi entered the Guinness Book of world records as the youngest Monarch of Agbor, a community in Delta State.

Benjamin Ikenchukwu Keagborekuzi I trained in Birbeck College in London and returned to Nigeria in the year 2000, to rule his kingdom. The Obi is the youngest Chancellor of the University of Ilorin. His net worth is about $10 million.

Conclusion

This post is a list of the richest kings in Nigeria. Also, the roll call shows that most of the kings trained abroad and are influential and wealthy monarchs. We hope you learned a few things about the Kings and Nigeria, a country with billionaire kings.

Also read: The top richest people in Nigeria