Nigeria is home to some of the wealthiest traditional rulers in Africa. Beyond their cultural and spiritual authority, many kings in Nigeria also control significant wealth, properties, and investments. If you have ever wondered who the richest king in Nigeria is and what their net worth looks like, this guide is for you.

In this detailed article, we reveal the richest king in Nigeria in 2025, along with a full list of other affluent monarchs, their estimated net worths, and the factors that contribute to their wealth. Whether you’re interested in learning about their palaces, businesses, or influence, this guide covers everything you need to know.

Why Are Nigerian Kings So Wealthy?

Before we look at the richest kings, let’s understand why Nigerian monarchs often have great wealth:

• They inherit valuable land and properties passed down for centuries.

• Many receive stipends and gifts from their subjects and state governments.

• Some kings own private businesses and investments in oil, real estate, agriculture, and more.

• Their status attracts local and international attention, opening doors to more opportunities.

Now, let’s dive into the list of the richest kings in Nigeria and their net worth in 2025.

Who is the Richest King in Nigeria in 2025?

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, is widely regarded as one of the richest kings in Nigeria, but another contender, the Oba of Lagos, also commands enormous wealth. Below we rank the top kings based on their estimated net worth.

Full List of the Richest Kings in Nigeria & Their Net Worth (2025)

Below is the ranking of the top richest kings in Nigeria, along with details of their wealth, palaces, and sources of income.

1. Oba Obateru Akinrutan – Olugbo of Ugbo

• Estimated Net Worth: $300 million

• Location: Ugbo Kingdom, Ondo State

• Why so wealthy?

  • Founder of Obat Oil, one of the largest private oil companies in Nigeria.

  • Owns vast real estate, luxury cars, and investments.

  • Known for his flamboyant lifestyle and expensive taste.

  • His palace is one of the most luxurious in Nigeria.

2. Sa’adu Abubakar – Sultan of Sokoto

• Estimated Net Worth: $120 million

• Location: Sokoto State

• Why so wealthy?

  • Spiritual leader of Nigerian Muslims and head of the Sokoto Caliphate.

  • Influential in politics, religion, and business.

  • Has extensive landholdings and investments in agriculture and livestock.

3. Lamido Sanusi Lamido – Former Emir of Kano

• Estimated Net Worth: $80 million

• Location: Kano State

• Why so wealthy?

  • Former Governor of the Central Bank of Nigeria.

  • Comes from the wealthy Fulani ruling dynasty of Kano.

  • Holds investments in finance, education, and consulting.

4. Oba Adeyeye Enitan Ogunwusi – Ooni of Ife

• Estimated Net Worth: $70 million

• Location: Ile-Ife, Osun State

• Why so wealthy?

  • Real estate developer before ascending the throne.

  • Owns luxury properties and businesses in tourism and hospitality.

  • Commands great respect and receives significant contributions from Yoruba people worldwide.

5. Oba Rilwan Akiolu – Oba of Lagos

• Estimated Net Worth: $40 million

• Location: Lagos State

• Why so wealthy?

  • Monarch of Nigeria’s most economically vibrant city.

  • Owns prime lands, properties, and investments in Lagos.

  • Holds ceremonial but highly influential position.

6. Oba Ewuare II – Oba of Benin

• Estimated Net Worth: $30 million

• Location: Benin City, Edo State

• Why so wealthy?

  • Custodian of Benin Kingdom’s cultural and historical treasures.

  • Investments in arts, culture, and real estate.

  • Receives respect and financial support from his people.

7. Oba Adedotun Aremu Gbadebo – Alake of Egbaland

• Estimated Net Worth: $20 million

• Location: Abeokuta, Ogun State

• Why so wealthy?

  • Ruler of a prominent Yoruba kingdom.

  • Land ownership and traditional royalties contribute to his wealth.

Summary Table: Richest Kings in Nigeria & Their Net Worth (2025)

How Do Nigerian Kings Make Their Money?

Here are some of the common sources of wealth for Nigerian monarchs:

• Oil & gas businesses.

• Real estate development and land leases.

• Government stipends and royalties.

• Agricultural enterprises.

• Gifts, donations, and tributes from subjects.

• Investments in private companies and stocks.

Why Do Their Net Worths Vary?

The net worth of Nigerian kings depends on:

• Size and economic activity of their kingdoms.

• Personal businesses and investments before becoming king.

• Historical wealth passed down through generations.

• Contributions and support from their communities.

FAQs About the Richest Kings in Nigeria

Who is the richest king in Nigeria in 2025?

The richest king in Nigeria is Oba Obateru Akinrutan, the Olugbo of Ugbo, with an estimated net worth of $300 million.

Does the government pay Nigerian kings?

Yes, most kings receive stipends from state governments, but the amount is usually small compared to their personal wealth.

Are all kings in Nigeria wealthy?

Not necessarily. Some kings have modest means, especially those in smaller communities with limited economic activity.

Do Nigerian kings pay taxes?

Yes, kings pay taxes on their personal businesses and investments, but their palaces and traditional duties are exempt.

Pro Tips: What to Know About Nigerian Royalty

• Respect their cultural significance and traditions.

• Do not assume all kings are equally wealthy; their wealth varies greatly.

• Many kings use their wealth to support education, healthcare, and development in their communities.

• When visiting a palace, it is customary to bring gifts or pay homage.

Final Thoughts on the Richest King in Nigeria and the Wealthiest Monarchs

Nigerian kings are not only custodians of culture but also powerful figures with immense wealth and influence. While Oba Obateru Akinrutan tops the list as the richest king in Nigeria, others like the Sultan of Sokoto and the Ooni of Ife also command great wealth and respect.

Their riches come from centuries of tradition, business acumen, and the loyalty of their people. Whether you are fascinated by their palaces, their businesses, or their cultural significance, the story of Nigeria’s richest kings remains inspiring and intriguing.

Use this guide to learn about the kings, their net worth, and the legacy they continue to uphold in 2025 and beyond.