Check out the top ten richest politicians in Nigeria as of the year 2023.
It is a well-known fact that some wealthy Nigerians are also politicians. Due to their salaries, allowances, and other factors, government executives have also ranked among the world’s wealthiest individuals.
From governors, senators, senators-elect, and other officials who have made the list of Nigeria’s wealthiest politicians.
Since 1960, you should review our list of all Nigerian presidents and their accomplishments.
Some of the wealthiest Nigerian legislators are not only passionate about the work they do, but also believe in the wisdom of investing their wealth and resources through business transactions, real estate, inheritance, and other investments.
There is no limit to the riches of Nigerian politicians. Politics is without a doubt one of the most discussed topics in Nigeria.
The majority of Nigerians are aware that politicians are well compensated, but few are aware of the exact quantity of money that Nigerian politicians earn.
If you are an inquisitive individual or wish to become one, learning about the wealthiest political figures in Nigeria will be of interest to you.
Related: Top 5 Richest Men In Nigeria 2023
Some of these politicians have utilised unconventional means to acquire fortune. I say this because some of them were not born into affluent families; rather, they achieved their elevated status through hard work and perseverance.
This article will discuss these wealthy individuals, their income sources, and how they became wealthy.
The Top 10 Richest Politicians In Nigeria 2023
1. Bola Ahmed Tinubu – $8.4 Billion
Since the APC’s inception in 2013, Bola Ahmed Tinubu, a Nigerian politician and accountant, has served as the party’s national leader. The All Progressives Congress is one of Nigeria’s 18 main political parties.
He served as a senator for the Lagos-West senatorial district from 1992 to 1993 before being elected governor of Lagos State from 1999 to 2007.
In 1979, he graduated with a bachelor’s degree in business administration from Chicago State University. He was bestowed the aristocratic title ‘Asiwaju’ by Lagos’ traditional ruler, Oba of Lagos, who holds a ceremonial position as Lagos’ traditional leader.
The incumbent senator for the Lagos Central constituency is Senator Tinubu’s wife, Oluremi Tinubu.
Asiwaju Bola Ahmed possesses a mansion in Ikoyi, Lagos, estimated to be worth $5 billion, as well as a number of other properties throughout Nigeria. In addition to a G-wagon, he also owns two additional Mercedes Benz vehicles, a Range Rover, and other beautiful automobiles.
He owns a $60 million Bombardier Global Express XRS private jet and is rumoured to possess a number of other aircraft.
Bola Ahmed Tinubu is expected to have a net worth of $8.4 billion by 2022, making him one of the wealthiest politicians in Nigeria.
Tinubu is currently the APC’s presidential nominee for the 2023 presidential election.
2. Ibrahim Badamasi Babangida – $5 Billion
Ibrahim Babangida is a politician and former general in the Nigerian Army. He was conceived on August 17, 1941. He served as Nigeria’s military leader from 1985 until 1993. He left office in 1993.
Not only is Babangida the second-wealthiest politician in Nigeria, but he has also paid the price for his success, prestige, and wealth.
On December 10, 1962, after concluding his studies at Government College Bida, Ibrahim Babangida enlisted in the military. In addition, he attended the Nigerian Military Training College in Kaduna for his education.
On 26 September 1963, Ibrahim Babangida matriculated with the rank of second lieutenant from the Indian Military Academy and was commissioned as a regular combatant officer in the Royal Nigerian Army. During the Nigerian Civil War, he served.
He did, however, attend the Indian Military Academy from April to September 1963.
The estimated net worth of Babangida exceeds $5 billion. It is believed that he amassed a fortune of several billion dollars by secretly purchasing stock in a variety of Nigerian companies.
3. Ifeanyi Ubah – $1.7 Billion
Next on the list of the wealthiest politicians in Nigeria is Patrick Ifeanyi Ubah, a Nigerian merchant and entrepreneur who was born on September 3, 1971 and is a senator for the Anambra South Senatorial District. Since 2001, he has been the founder and chief executive officer of Capital Oil.
Ifeanyi Ubah expanded his business operations to include the United Kingdom and Belgium.
He exports several automotive tyres and spare parts to Sierra Leone, Ghana, Liberia, and the Democratic Republic of the Congo in his capacity as an exporter.
He founded Nigeria’s daily newspaper, The Authority, and he currently operates Ifeanyi Ubah F.C., formerly known as Gabros International Football Club.
His current estimated net worth is a staggering $1.7 billion, making him one of the wealthiest Nigerian politicians.
4. Olusegun Obasanjo – $1.6 Billion
Olusegun Obasanjo, a Nigerian general, statesman, and diplomat, was the continent’s first military leader to cede power to a civilian government.
A former military dictator of Nigeria from 1976 to 1979 and civilian head of state from 1999 to 2007 Obasanjo was born in Abeokuta, Nigeria, on March 5, 1937.
Obasanjo rose rapidly through the ranks of the army while serving. From 1967 to 1970, he commanded a commando division operating at the Biafran front in southeast Nigeria during the Biafra crisis. The Biafrans surrendered to him in January 1970, concluding the conflict.
According to some, Obasanjo is a postcolonial figure in Africa. He certainly deserves to be among the wealthiest politicians in Nigeria.
He is regarded as one of Nigeria’s finest presidents due to his many outstanding achievements. According to Forbes, he is also one of the wealthiest politicians in Nigeria.
5. Rochas Okorocha – $1.4 Billion
Nigerian politician Rochas Okorocha is from the state of Imo and is of Igbo descent.
He is currently serving as the Senator for the Imo West Senatorial District in the ninth Nigerian Senate. Additionally, he previously served as the governor of Imo State.
In the months preceding the 2011 general election, Rochas initially aligned himself with the All Progressive Grand Alliance (APGA), but later converted to the All Progressive Congress (APC). Rochas was elected governor of the state in 2011 and subsequently served for four years.
Owelle Rochas Okorocha was born in Ogboko, which is located in the Ideato South Local Government Area of Imo State, on March 22, 1962. He rose from humble beginnings to become the governor of the province.
As a result of his impoverished parents, he laboured as a peddler in Barkin Ladi, Jos. In 2007, Rochas Okorocha had already entered politics and amassed a sizable following, prompting him to compete for governor under the banner of the Peoples Democratic Party (PDP) in that year’s general election.
Rochas is one of the many politicians who, through hard labour and dedication, rose to become one of the wealthiest politicians in Nigeria. Prior to entering politics, he had already achieved considerable success.
6. Atiku Abubakar -$1.4 Billion
Atiku Abubakar is a politician and industrialist from Nigeria who was born on November 25, 1946.
He served as Vice President of Nigeria from 1999 to 2007, during the presidency of Olusegun Obasanjo, and he is currently vying for the presidency.
During his twenty-year tenure with the Nigeria Customs Service, he rose through the ranks to become the agency’s Deputy Director, the second-highest position available at the time.
In April of 1989, he left the military and promptly began a full-time career in business and politics. His business and investment activities have made him the second richest politician from the north on this list of the wealthiest politicians in Nigeria.
In 1991, he ran unsuccessfully for governor of the former Gongola State, which is now comprised of the states of Adamawa and Taraba. In 1993, he made a second unsuccessful run for the presidency.
In his political tenure, Atiku has made a total of five unsuccessful bids for the presidency of Nigeria. He has never attained achievement.
Inflexibly, he would be pleased with his performance in the presidential elections of 2023, given that he is presently a candidate for the position.
7. Orji Uzor Kalu – $1.1 Billion
Orji Uzor Kalu certainly ranks among Nigeria’s billionaires. He is a prominent figure in Nigeria’s political and business communities.
In addition to his position as Chief Whip of the Nigerian Senate, he also serves as Senator for the Abia North Senatorial District.
In 1999, Kalu successfully stood for governor of the Nigerian state of Abia under the banner of the People’s Democratic Party. From 1999 to 2007, he served as Governor of Abia State for a total of two terms.
At the age of 19, he established his first business, which involved the trading of palm oil, maize, and sugar. This followed his expulsion from the university for conducting a series of student disturbances. According to Forbes, in order to launch the business, he had to borrow $35 from his mother.
He worked in the transportation and furniture manufacturing industries in his later years. By the time he was 20 years old, he had accumulated a million dollars in wealth.
In 2015, Forbes Magazine ranked him as the 49th wealthiest individual in Africa out of the top 50. Kalu is without a doubt one of the most successful and wealthy politicians in Nigeria.
8. Ahmadu Adamu Mu’azu – $895 Million
Nigerian politician Ahmadu Adamu Mu’azu previously served as governor of Bauchi State and national chairman of the People’s Democratic Party (PDP). He is one of the most prosperous politicians in Nigeria. RNN will investigate his medical history, biography, and net worth.
Alhaji Ahmadu Adamu Mu’azu is a Nigerian politician who was born on June 11, 1955 in Boto, which is in the Tafawa Balewa Local Government of Bauchi State. Between 1962 and 1968, he attended elementary school. In 1968, he graduated from high school.
Additionally, he earned a distinction on the West African School Certificate Examination while attending Gindiri’s Boy’s Secondary School between 1971 and 1975. (WAEC).
Subsequently, he matriculated in the School of Basic Studies at Ahmadu Bello University in Zaria, where he ultimately earned a Bachelor of Science in Quantity Surveying. After deciding to return to school in 1983, he eventually earned a Master of Science in Construction Management.
One of Ahmadu Adamu Mu’azu’s responsibilities at the Bauchi State Investment and Property Development Company, where he worked, was property management. With a cumulative income of $895 million, he is one of Nigeria’s top ten wealthiest politicians.
Mu’Azu has parked his Lexus LX570, Range Rover Discovery, and Toyota Prius together in his garage.
9. Dino Melaye – $800 Million
Dino Melaye is a Nigerian politician who served as a senator and a member of the 8th Nigerian National Assembly while representing the Kogi West Senatorial District.
Melaye was a senator from 2007 until 2015. His birthplace is the Ayetoro Gbede community in the Ijumu Local Government Area of Kogi State.
The veteran politician is well-known for his collection of expensive automobiles, which includes a Bugatti Veyron (valued at $616 million), three Rolls-Royces (each valued at $318 million), Lamborghini Huracans (each valued at $86.7 million), Bentley Continentals (each valued at $71 million) and many other exotic and luxury vehicles.
As of 2022, Dino Melaye is considered one of the wealthiest politicians in Nigeria, with an estimated net worth of 800 million dollars.
10. Rotimi Amaechi – $780 Million
Rotimi Amaechi ranks tenth on this list of the top ten wealthiest politicians in Nigeria.
Chibuike Rotimi Amaechi is a Nigerian politician who was designated Minister of Transport in the Nigerian government’s cabinet by President Muhammadu Buhari. This position has been held by him since April 2016.
Governor of the oil-rich Rivers State from 2007 to 2015 and Speaker of the Rivers State House of Assembly from 1999 to 2007 are among his prior positions. He held both of these positions in the state of Rivers.
Although not to the same extent as Dino Melaye, Amaechi enjoys expensive automobiles. Mercedes Amg G63, Mercedes-Maybach Vision 6, Lexus LX 570, Land Rover Discovery, and Mercedes S550 are included in his collection. The collection of Dino Melaye contains a Mercedes-Maybach Vision 8.
Richest Politicians In Nigeria (Final Words)
The majority of the wealthiest Nigerian politicians and senators enumerated above are involved in the oil industry. Either they own oil wells or they have investments in private oil companies. What are your thoughts?
Please share your thoughts in the section below. Additionally, please like, share, and leave comments.
Add Comment