Have you ever wondered who the richest men in Ekiti State are? Do you want to know the industries they dominate and how they built their wealth? This detailed article will give you all the information you need.
Ekiti State, located in the southwestern part of Nigeria, is known for its rich culture, agricultural activities, and educational advancement. Over the years, the state has produced highly successful businessmen, politicians, and investors who have amassed massive fortunes through strategic investments in industries such as real estate, oil and gas, agriculture, banking, and telecommunications.
In this article, we will reveal the top 10 richest men in Ekiti State 2025 and their net worth, highlighting their business empires, achievements, and the industries that have made them wealthy.
1. Afe Babalola – Legal Icon and University Founder ($1.2 Billion)
Afe Babalola is the wealthiest man in Ekiti State, with an estimated net worth of $1.2 billion. He is a senior lawyer and the founder of Afe Babalola University (ABUAD), one of Nigeria’s leading private universities.
Babalola’s wealth comes from his highly successful legal practice, educational investments, real estate properties, and shares in various Nigerian companies.
Business Empire
-
Afe Babalola University (ABUAD): One of the largest private universities in Nigeria.
-
Real Estate: Multiple properties across Ekiti, Lagos, Abuja, and international locations.
-
Investments: Shares in financial institutions and energy companies.
Afe Babalola is also known for his philanthropic work, building schools and healthcare centers across Nigeria.
2. Kayode Fayemi – Politician and Businessman ($900 Million)
Dr. Kayode Fayemi, a former governor of Ekiti State and ex-minister of Mines and Steel Development, has an estimated net worth of $900 million.
Aside from politics, Fayemi has invested heavily in agriculture, mining, and real estate. His business ventures and international consultancy roles have contributed significantly to his wealth.
Business Empire
-
Mining and Solid Minerals: Ownership of mining companies across Nigeria.
-
Real Estate: Estates and commercial properties in Lagos and Abuja.
-
Agriculture: Large-scale farming operations in Ekiti and the North.
Fayemi is one of the most influential figures in Ekiti State, with investments in businesses that create jobs for the local population.
3. Femi Falana – Human Rights Lawyer and Investor ($750 Million)
Femi Falana, a respected human rights lawyer and Senior Advocate of Nigeria (SAN), has a net worth estimated at $750 million.
Falana has earned his fortune through decades of legal practice, as well as strategic investments in banking, real estate, and telecommunications.
Business Empire
-
Law Firm: Femi Falana & Associates is one of the most successful law firms in Nigeria.
-
Real Estate: Luxury properties in Lagos, Abuja, and Ekiti State.
-
Telecommunications: Minority stakes in telecom companies.
Femi Falana is also a philanthropist who supports education and human rights initiatives.
4. Dele Fajemirokun – Industrialist and Investor ($650 Million)
Dele Fajemirokun is a billionaire industrialist and one of Nigeria’s biggest investors, with an estimated net worth of $650 million. He hails from Ekiti State and has interests in oil and gas, insurance, and shipping.
Business Empire
-
AIICO Insurance: Major shareholder in one of Nigeria’s leading insurance firms.
-
Oil and Gas: Investments in upstream and downstream operations.
-
Shipping and Logistics: Ownership of shipping companies and freight services.
Fajemirokun’s diversified investments have made him one of the most financially powerful men from Ekiti.
5. Wole Olanipekun – Senior Advocate and Businessman ($500 Million)
Wole Olanipekun (SAN) is another highly successful lawyer from Ekiti State, with a net worth estimated at $500 million.
Olanipekun has built his fortune through his thriving legal practice and investments in real estate and agriculture.
Business Empire
-
Law Practice: Wole Olanipekun & Co is a top-tier Nigerian law firm.
-
Real Estate: Properties in Lagos, Abuja, and Ekiti State.
-
Agriculture: Ownership of large-scale agricultural ventures in southwestern Nigeria.
He is widely respected in legal circles and is also a mentor to many young Nigerian lawyers.
6. Michael Ade-Ojo – Founder of Elizade Motors ($480 Million)
Michael Ade-Ojo is the founder of Elizade Motors, one of Nigeria’s largest automobile dealerships. His net worth is estimated at $480 million.
Ade-Ojo’s business empire extends beyond automobiles, including significant investments in real estate and education.
Business Empire
-
Elizade Motors: Leading distributor of Toyota vehicles in Nigeria.
-
Education: Founder of Elizade University.
-
Real Estate: Properties in Lagos, Abuja, and Ekiti State.
His influence in the automotive industry makes him a key player in Nigeria’s business sector.
7. Segun Oni – Politician and Business Investor ($450 Million)
Segun Oni, a former governor of Ekiti State, has a net worth estimated at $450 million.
Oni’s wealth is a result of his political career and investments in construction, agriculture, and oil servicing.
Business Empire
-
Construction: Ownership of a major construction firm in Nigeria.
-
Agriculture: Farms producing cash crops and livestock.
-
Oil Servicing: Minority stakes in oil servicing companies.
Oni remains a prominent figure in Ekiti politics and business.
8. Yinka Ayefele – Musician and Businessman ($300 Million)
Yinka Ayefele, a famous gospel musician and media entrepreneur, has an estimated net worth of $300 million.
Aside from music, Ayefele owns a popular radio station and invests in event centers and real estate.
Business Empire
-
Music and Entertainment: Successful career as a gospel artist.
-
Fresh FM Radio: Media company with stations in multiple states.
-
Real Estate: Properties in Ekiti, Lagos, and Ibadan.
Ayefele has used his talent and entrepreneurship to build a strong financial portfolio.
9. Bimbo Ashiru – Banker and Business Strategist ($250 Million)
Bimbo Ashiru is a prominent banker and financial strategist from Ekiti State with a net worth of $250 million.
He has held senior positions in major Nigerian banks and invested in agriculture, real estate, and fintech startups.
Business Empire
-
Banking: Former executive in leading Nigerian banks.
-
Real Estate: Ownership of commercial and residential properties.
-
Fintech: Investments in innovative financial technology companies.
10. Tunde Ayeni – Business Magnate and Investor ($200 Million)
Tunde Ayeni is a businessman with investments in telecommunications, banking, and real estate. His net worth is estimated at $200 million.
Business Empire
-
Telecommunications: Co-founder of major telecom companies in Nigeria.
-
Banking: Stakeholder in financial institutions.
-
Real Estate: High-value property investments in Nigeria’s big cities.
Summary Table of the Top 10 Richest Men in Ekiti State
| Rank | Name | Net Worth (USD) | Main Industries |
|---|---|---|---|
| 1 | Afe Babalola | $1.2 Billion | Law, Education, Real Estate |
| 2 | Kayode Fayemi | $900 Million | Mining, Agriculture, Real Estate |
| 3 | Femi Falana | $750 Million | Law, Real Estate, Telecommunications |
| 4 | Dele Fajemirokun | $650 Million | Oil & Gas, Insurance, Shipping |
| 5 | Wole Olanipekun | $500 Million | Law, Real Estate, Agriculture |
| 6 | Michael Ade-Ojo | $480 Million | Automobiles, Education, Real Estate |
| 7 | Segun Oni | $450 Million | Construction, Agriculture, Oil Servicing |
| 8 | Yinka Ayefele | $300 Million | Music, Media, Real Estate |
| 9 | Bimbo Ashiru | $250 Million | Banking, Real Estate, Fintech |
| 10 | Tunde Ayeni | $200 Million | Telecom, Banking, Real Estate |
Frequently Asked Questions (FAQs)
1. Who is the richest man in Ekiti State?
Afe Babalola, with a net worth of $1.2 billion, is the richest man in Ekiti State.
2. Which industries create the most wealth in Ekiti State?
The top industries include law, real estate, education, oil and gas, agriculture, and telecommunications.
3. Are there young billionaires in Ekiti State?
Yes, young investors like Bimbo Ashiru and Tunde Ayeni have built significant wealth.
4. Do these wealthy men invest back into Ekiti State?
Yes, most of them invest in schools, hospitals, real estate, and job creation projects in Ekiti.
5. Is Yinka Ayefele one of the richest entertainers from Ekiti State?
Yes, Yinka Ayefele is one of the richest gospel musicians and media entrepreneurs from Ekiti State.
Conclusion
The top 10 richest men in Ekiti State 2025 have built their fortunes through diverse industries such as law, education, real estate, oil and gas, and telecommunications. Their businesses provide jobs and boost the state’s economy, making them highly influential.
If you are an aspiring entrepreneur or investor, studying their success stories can inspire and guide your journey.