Top 5 Richest Politicians In Nigeria And Their Net Worth

Last updated on January 12th, 2024 at 03:13 pm

Despite being one of the poorest countries in the world, Nigeria is home to some of the richest politicians in the world.

It is no secret that a small minority of former presidents and incumbents now own assets that could enrich the country as a whole.

Despite the efforts of such leaders to hide their wealth, this has not stopped some media outlets such as Forbes from expecting to uncover the huge sums of money that politicians have.

You might be surprised to know that politicians in grades 1 and 2 own more money than Yobe, Gombe and Ebonyi states.

Also Read: Top 10 Rich Politicians Of South Africa

List of Top 5 Richest Nigerian Politicians in 2024

1) Bola Tinubu (Net Worth – N3.4 Trillion)

One of President Buhari’s successors in 2023, he was first elected senator from Lagos State in 1993 before being elected governor of Lagos State from 1999 to 2007.

The EFCC and ICPC had earlier launched an investigation into Tinubu, but now all pending investigations have been postponed.

According to some reports, Tinubu is accused of being involved in drug trafficking in the United States between 1988 and 1993.

It has long been alleged that Tinubu is the only Nigerian politician to be dropped off by trucks at his residence in Ikoyi, Lagos State.

He owns several luxury cars, including a G-Wagon worth N600 million. He owns two Mercedes Benz, a Range Rover, a Lexus LX 570 and others, and owns private jets including the Bombardier Global Express XRS at a cost of N60 million.

2) Ibrahim Badamasi Babangida (N1.8 Trillion)

IBB is a veteran who ruled Nigeria from August 27, 1985 to August 26, 1993. He held various positions in the military before becoming president.

IBB owns a UK-based company, Fruitex International, owns 24% of one of Nigeria’s telecommunications companies, and owns aircraft worth more than N1 billion.

He is estimated to have a net worth of N1.8 trillion, making him the second richest Nigerian politician.

3) Olusegun Obasanjo (Net Worth – N1.8 Trillion)

Obasanjo’s biggest asset is his fortified farm in Otta, Ogun State. After owning one of the largest farms in Africa, Obasanjo is a businessman and oil tycoon.

Obasanjo, a former president in a military and democratic government, owns a small plane and a helicopter. It is estimated that Obasanjo owns N1.8 trillion.

4) Ifeanyi Ubah (Net Worth – N508 Billion)

After being a prominent businessman, Ifeanyi Ubah is now a senator representing Anambra South in the Senate.

He owned an oil company called Capital Oil, and later owned a football club called Ifeanyi Ubah football club.

Ifeanyi Uba owns luxury cars including the Rolls Royce, Land Rover, Cadillac Escalade, Toyota Land Cruiser and Toyota Highlander, and owns an aircraft. It is estimated that he has a net worth of N508 billion.

5) Rochas Okorocha (Net Worth – N507 Billion)

Following his ouster from the governorship of Imo State, the Economic and Financial Crimes Commission (EFCC) has launched an investigation into former governor Rochas Okorocha, who is currently the senator representing West Imo State under the APC.

Rochas was a successful businessman before he entered politics. He owns a foundation that builds schools to educate the children of the poor and disadvantaged.

The former governor owns luxury cars including the Rolls Royce Phantom, Mercedes Benz S600, Mercedes Benz Klassen V220, Mercedes Benz AMG63, Lexus LX 570 and others. Rochas also claimed to have owned his private jet even before he became governor.