Nigeria is home to several monarchs. Although these traditional rulers do not hold formal political powers, they are well respected in the society and are quite influential.

In this post, we take a look at the 10 richest kings in Nigeria and their net worth.

1. Oba Obateru Akinrutan



Obateru Akinrutan is one of the richest monarchs in the country. He was born in 1950 and he is the traditional ruler of Ugbo Kingdom, a town in Ilaje Local Government, Ondo State.

He is a billionaire businessman with investment in the oil and gas industry. Obateru is the founder of Obat Oil, one of Nigeria’s leading privately held oil companies. Obat Oil was established by Obateru in 1981 and the company currently has more than 50 gas stations across the six geopolitical zones of Nigeria. It also owns one of the largest tank farms in Africa which has the capacity to store 65 million liters of petroleum products.

In 2014, Forbes revealed that he was worth an estimated US$300 million. He is also ranked by Forbes magazine as the second richest King in Africa and the richest in Nigeria. He surpassed King Olubuse II, the Ooni of Ife, with $225 million and the Swaziland King Mswati III by over $200 million.

Obateru drives a custom built 2012 Rolls Royce which is similar to that of Queen Elizabeth II and he once revealed in an interview that he owns a wristwatch that is worth $1 million watch.

The king was the first black person to buy the 2014 model of Bentley automobile. Interestingly, the first time he ever saw a car was in Sapele. At that time, the young Obateru was just 11 years old.

2. Obi of Onitsha Net Worth $50 million



Another wealthy monarch in the country worthy of mention is the current Obi of Onitsha, Nnaemeka Alfred Ugochukwu Achebe. He is worth $50 million financially and he is one of the first class traditional rulers in Nigeria.

Before he was crowned the Obi, he occupied various top positions such as being an executive director at Shell Petroleum Development Company, working as one of the top figures in the banking sector and also served as the chancellor of Ahmadu Bello University.

3. Sultan of Sokoto



The current Sultan of Sokoto is Muhammadu Sa’ad Abubakar IV and he is one of the richest kings in Nigeria. He is a actual critical monarch principally in the northern cut up of Nigeria. He is additionally the co-chairman of the Nigerian congress of long-established Rulers.

As the Sultan, Muhammadu Sa’ad Abubakar IV is painstaking the spiritual guide of Nigeria’s seventy-million Muslims. He is and president-general of the Nigerian state-run Supreme association for Islamic associations (NSCIA).

Prior to his coronation as Sultan, Abubakar headed a presidential confidence constituent of the Armoured body that guarded it follows that martial ruler common Ibrahim Babangida in the at the last 1980s. Abubakar additionally commanded a mass of African peacekeepers in Chad during the basic 1980s as piece of the Organisation of African Unity’s intensity and was the armed forces liaison bureaucrat for the profitable identity of West African States (ECOWAS) in the mid-1990s.

He served as the Defence Attaché to Pakistan from 2003 to 2006. after his leader brother, Sultan Maccido died in 2006, he was recalled to cart headquarters as the 20th Sultan of Sokoto. His conjecture of the throne subsequently led to his retirement from the mass as a Brigadier General. 3. Sultan of Sokoto

The undercurrent Sultan of Sokoto is Muhammadu Sa’ad Abubakar IV and he is one of the richest kings in Nigeria. He is a extraordinarily main monarch exceptionally in the northern share out of Nigeria. He is too the co-chairman of the Nigerian assembly of time-honored Rulers.

As the Sultan,

4. Emir of Kano Net Worth $80 million



Former Emir of Kano Muhammadu Sanusi II

The former Emir of Kano estimated net worth is $80 million as he has numerous businesses, assets and financial investments that we might not be aware of. The former Emir, Lamido Sanusi Lamido is a popular monarch in Nigeria whose achievements in the economic sector speaks for him.

Prior to his ascension to the throne as the 11th Fulani Emir of Kano, he was the former governor of the Central Bank of Nigeria whose policies saw to the valuation of the county’s currency and stability of the economy.

Time magazine in 2011 listed the Emir among the top 100 most influential people in the world due to his outspoken nature to issues. Lamido Sanusi was also honoured in 2013 at the Global Islamic Finance Awards (GIFA) in Dubai for his role in promoting Islamic banking in Nigeria.

According to the Emir, he revealed that his yearly salary from the federal government is N14 million. As earlier stated, he has other assets and investments that makes him a wealthy traditional ruler.

He was removed by the Kano state government and has been replaced by His Royal Highness, Bayero

5. Alaafin Of Oyo

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