Have you ever wondered who the richest men in Oyo State are? What industries shaped their fortunes? If you're curious about the wealthiest figures in one of Nigeria's most culturally rich states, then you're in the right place.
Oyo State, located in the southwestern part of Nigeria, is widely known for its historic capital, Ibadan – a city that once stood as the largest in West Africa. Beyond its cultural legacy, Oyo is home to some of Nigeria’s top business moguls, industrialists, and powerful political figures who have transformed their wealth across sectors like oil, education, agriculture, telecommunications, and construction.
In this detailed article, we will take a closer look at the top 10 richest men in Oyo State in 2025, their estimated net worth, and how they built their financial empires. If you've been asking yourself questions like: Who is the richest man in Oyo State?, What industries are the wealthiest men in Oyo State investing in?, Are there billionaires from Ibadan?, How do politicians and entrepreneurs build wealth in Oyo State?, and What are the top wealth sectors in southwestern Nigeria?, this post will provide clear answers.
Why Study the Richest Men in Oyo State?
Understanding the top richest men in Oyo State gives insight into the core drivers of wealth in southwestern Nigeria. It also highlights how regional strength, legacy, education, and business opportunities are fueling billionaires in the Yoruba heartland.
Here are key reasons why this list matters:
It reveals how Ibadan and other cities in Oyo have become hubs for business innovation and entrepreneurship.
It breaks down the industries contributing to long-term wealth: agriculture, real estate, education, and politics.
It serves as a guide for aspiring entrepreneurs to understand where to focus their efforts.
It shows how influence, legacy, and smart investment combine to create wealth.
1. Rasheed Ladoja – Businessman, Politician, and Industrialist ($750 Million)
Former Governor of Oyo State, Rasheed Ladoja is one of the wealthiest individuals from the region. His wealth comes from a combination of political influence, business ventures, and ownership of multiple real estate and agricultural properties.
How He Built His Wealth:
Leveraged political career for investments in agriculture and transportation
Owns expansive land estates in Oyo
Invested in oil servicing and agro-business
Business Empire:
Agro-processing firms
Property development in Ibadan
Political consulting and logistics services
2. Chief Kola Daisi – Banking Magnate and Educational Investor ($620 Million)
Chief Kola Daisi is a financial powerhouse and founder of KolaDaisi University. His vast wealth stems from decades in banking and finance, along with large investments in the education sector.
How He Built His Wealth:
Founded and managed key financial institutions
Established one of the top private universities in Ibadan
Business Empire:
Banking and finance
Private education
Real estate assets in Oyo and Lagos
3. Bayo Adelabu – Economist and Power Sector Executive ($480 Million)
Bayo Adelabu is a technocrat with roots in Ibadan. A former Deputy Governor of the Central Bank of Nigeria (CBN) and current stakeholder in the power sector, his fortune is built on executive leadership and high-level investments.
How He Built His Wealth:
Held high-level positions in the banking sector
Invested heavily in Ibadan-based energy and utility firms
Business Empire:
Power infrastructure
Real estate in Oyo and Abuja
Board memberships in banking and financial institutions
4. Chief Adebayo Alao-Akala (Family Estate) – Political Dynasty and Business Holdings ($450 Million)
The estate of the late Chief Adebayo Alao-Akala remains a dominant economic force in Oyo State. His family continues to manage diverse business assets, particularly in construction and hospitality.
How Wealth Was Built:
Political influence as former governor
Construction firms, hospitality chains, and retail holdings
Business Empire:
Hotels and event centers
Road and infrastructure projects
Farming and agro-allied investments
5. Seyi Makinde – Oil and Gas Entrepreneur, Governor of Oyo State ($420 Million)
Engineer Seyi Makinde is not only the current governor but also a seasoned oil and gas entrepreneur. Before venturing into politics, he built a successful engineering and energy company.
How He Built His Wealth:
Founder of Makon Group, a leading oil and gas services firm
Diversified into real estate and telecommunications
Business Empire:
Oil and gas servicing
Engineering consultancy
Real estate in Ibadan and Lagos
6. Sunday Igboho – Businessman and Political Figure ($300 Million)
Known more for his activism, Sunday Igboho has business interests in vehicle sales, real estate, and security services. Though controversial, his wealth is rooted in genuine entrepreneurial activity.
How He Built His Wealth:
Early success in auto sales
Ownership of buildings and security firms
Business Empire:
Real estate holdings
Vehicle imports and distribution
Security consulting
7. Chief Adebutu Adebayo (Father of Premier Lotto Mogul) – Philanthropist and Landowner ($270 Million)
Chief Adebutu is known for vast land ownership and family investments tied to Premier Lotto (Baba Ijebu). Though not based solely in Oyo, his deep ties to Ibadan and land investments there are significant.
How He Built His Wealth:
Agricultural land assets
Shares in betting and gaming companies
Business Empire:
Premier Lotto shares
Farming and estate ownership
Philanthropy and youth funding
8. Nurudeen Akinyo – Construction and Transportation Tycoon ($210 Million)
A notable business figure in Ibadan, Nurudeen Akinyo’s rise comes from public transportation and government contracting. He owns a fleet of transport buses and construction machinery.
How He Built His Wealth:
Managed state-funded transport services
Won infrastructure development contracts
Business Empire:
Transportation and logistics
Road construction and maintenance
Civil engineering support services
9. Ismaila Folarin – Real Estate Developer and Business Strategist ($180 Million)
Senator Ismaila Folarin is known for real estate and policy consulting. His Ibadan-based investments include shopping centers, estates, and strategic business locations.
How He Built His Wealth:
Used political experience to enter real estate
Partnered with private equity firms for land development
Business Empire:
Residential estates in Ibadan
Retail shopping plazas
Business advisory services
10. Taye Currency – Entertainer Turned Businessman ($150 Million)
Taye Currency, one of Ibadan’s most successful Fuji artists, has turned his musical fame into real business. He owns properties, studios, and clubs across southwestern Nigeria.
How He Built His Wealth:
Music and brand deals
Real estate and entertainment businesses
Business Empire:
Music studio and label
Clubhouses and lounges
Merchandise and endorsements
Conclusion
The richest men in Oyo State in 2025 showcase the power of diverse wealth-building strategies—from politics and oil to education and real estate. Ibadan and its surrounding cities continue to nurture self-made millionaires and family dynasties alike.
If you're looking to understand how success is built in southwestern Nigeria, this list provides a clear map of wealth, influence, and opportunity.
Frequently Asked Questions (FAQs)
1. Who is the richest man in Oyo State in 2025?
Rasheed Ladoja tops the list with a net worth of $750 million.
2. What sectors are most profitable in Oyo State?
Oil and gas, education, real estate, politics, and construction.
3. Are there billionaires from Ibadan?
Yes, several businessmen and politicians from Ibadan are multi-millionaires with regional influence.
4. Is real estate profitable in Oyo?
Yes, land and property development around Ibadan remain top sources of wealth.
5. How can young people build wealth in Oyo State?
Focus on sectors like tech, real estate, education, logistics, and agriculture.