Enough of the bragging and lamentations, Let us know who is really who among our Nigerian kings. Edo people will claim that Oba of Benin is the richest king in Nigeria, Some will say Oba of Lagos is the richest Oba in Nigeria while others will choose Oni of Ife as the richest .
For those of you wondering who the richest king in Nigeria 2017 is, if you find yourself on this page it means you are among the few lucky persons who will be knowing the richest kings in Nigeria so that you will finally say no to those fake ranking you come across online. We are aware that many Nigerian monarchs are very rich but the problem here is that most times we are unable to spot out the richest among them while many people are sentimental on this. There are several powerful monarchs in Nigeria who have amass wealth for themselves and a lot of businesses as well as investments all over Nigeria and beyond.
1. Oba Obateru Akinrutan (Olugbo of Ugbo land, Ondo state)
The richest king in Nigeria according to Forbes magazine recent ranking is Olugbo of Ugbo Kingdom, HRM Frederick Obateru Akinruntan. I am very sure this will come as a surprise to many people seeing HRM Frederick Obateru Akinruntan beat the likes of Oba of Benin , the Alaafin of Oyo, the Sultan of Sokoto, the Ooni of Ife to emerge the richest king (monarch) in Nigeria 2017. This post is focusing on the list of richest kings in Nigeria and wealthiest monarch in Nigeria. Forbs Magazine included the the Ooni of Ife and the Alaafin of Oyo as the richest in Africa where Oba Akinruntan estimated net worth is $300 million . Then,Oba Sijuade estimated net worth is about $75 million.
Oba Obateru Akinrutan is the traditional ruler of Ugbo land, a small, oil-rich community in Ondo state. He started investing in oil many years ago when he opened a small gas station in 1981. His primary intention for opening this gas station was to meet the need of his community and family , the small station has now become one of Nigeria’s largest private oil companies, Obat Oil, which comprises over 50 petrol stations nationwide.
There is this rumor oozing everywhere that the company has the largest oil depot in Africa, with a capacity to store 65 million litres of petrol and other petroleum products. The said Oba was the first black person to buy the 2014 model of Bentley. he acquired the car in 2012 and as at that time only Queen of England had the car while other persons that had interest in the car waited until 2014 before they could purchase it. As if that is not enough, he also has a custom-designed Rolls Royce and it is one of a kind.
The wealthy monarch is also into real estate investments in Nigeria and the UK and owns the Febson Hotels and mall in Central Business District, Abuja. We gathered that his business conglomerate has plans to go into shipping, fishery, tourism, and water purification and production. He also has investments in construction, landed properties .
2. Oba Okunade Sijuwade (Ooni of Ife, Osun state)
Oba Okunade Sijuwade ascended the throne as the Ooni of Ife in the year 1980. His ambition is more like that of Oba Obateru Akinrutan, similar in terms of business idea. He is a successful businessman and his first business venture was WAATECO. This company is an automotive distribution business that imported vehicles and vehicle spare parts into Nigeria. The 85 year old Oba founded this company in the year 1964 that was prior to his ascension as the Ooni of Ife. He is the owner of Motel Royal Hotel , he is also into real estate just like Oba Obateru Akinrutan.
His business conglomerate, Sijuwade Group, is into oil and gas, construction, hospitality, and property development industries. His estimated net worth is $75 million according to Forbes.