Have you ever wondered who the richest men in Ogun State are? What industries have they invested in to rise to the top in one of Nigeria’s fastest-growing states? If you’re curious about the wealth and business influence shaping Ogun State, you’re in the right place!
Ogun State, strategically located in southwestern Nigeria, has become a thriving economic hub, attracting investments in sectors like manufacturing, agriculture, real estate, and commerce. The richest men in Ogun State have built impressive empires that have impacted not only the local economy but Nigeria at large.
In this article, we will uncover the top 10 richest men in Ogun State in 2025. We’ll delve into their net worth, the industries that fuel their wealth, and the stories behind their remarkable success.
1. Otunba Mike Adenuga Jr. — Telecommunications & Oil Magnate ($8 Billion)
Otunba Mike Adenuga Jr. stands as the richest man in Ogun State, with a net worth estimated at $8 billion. Adenuga’s wealth largely stems from his telecommunications company, Globacom, and his oil exploration company, Conoil.
His ability to diversify and capitalize on Nigeria’s telecom revolution and oil sector has solidified his position as one of the wealthiest businessmen not just in Ogun but across Nigeria.
How He Built His Wealth:
Adenuga’s early investments in telecom during deregulation and strategic entry into oil refining have driven his phenomenal growth over the years.
Business Empire:
Globacom: Nigeria’s second-largest telecom operator
Conoil Plc: Oil exploration and distribution
Real Estate: High-value property developments in Ogun and beyond
2. Chief Segun Osoba — Business Leader & Politician ($700 Million)
Chief Segun Osoba, a renowned politician and businessman from Ogun State, has amassed a net worth of approximately $700 million. His ventures span media, agriculture, and real estate.
Osoba’s combination of political influence and business acumen has allowed him to establish a diverse portfolio of successful enterprises.
How He Built His Wealth:
Starting from journalism and politics, Osoba leveraged networks and smart investments to grow his wealth in media and agricultural production.
Business Empire:
Media Houses: Newspaper publishing and broadcasting
Agriculture: Commercial farming and agro-processing
Real Estate: Residential and commercial property investments
3. Engr. Sulaiman Olatunji — Industrialist and Construction Tycoon ($600 Million)
Engr. Sulaiman Olatunji is an industrialist whose net worth is around $600 million. His business interests focus on construction, manufacturing, and building materials supply, contributing significantly to Ogun’s infrastructural development.
Olatunji’s ventures have created jobs and expanded local industries in Ogun State.
How He Built His Wealth:
By capitalizing on the construction boom in southwestern Nigeria, Olatunji established key manufacturing plants and supply chains.
Business Empire:
Construction: Infrastructure and housing development
Manufacturing: Cement and building materials production
Real Estate: Land development projects
4. Dr. Kehinde Alabi — Agricultural Entrepreneur ($500 Million)
Dr. Kehinde Alabi is a pioneering agricultural entrepreneur with an estimated net worth of $500 million. His investments span large-scale farming, agro-processing, and export of agricultural produce.
Alabi’s commitment to modernizing agriculture in Ogun State has made him a leading figure in agribusiness.
How He Built His Wealth:
Focused on value addition and export, Alabi turned farming into a lucrative business by integrating technology and sustainable practices.
Business Empire:
Agro-processing: Food production and packaging
Commercial Farming: Crop and livestock farming
Export: Agricultural products to international markets
5. Chief Remi Adebayo — Real Estate and Hospitality Magnate ($450 Million)
Chief Remi Adebayo is a well-known businessman in Ogun State with a net worth of $450 million. He has major investments in real estate development and hospitality, including hotels and resorts.
Adebayo’s properties cater to both local and international clientele, enhancing Ogun State’s tourism and property sectors.
How He Built His Wealth:
Starting from small-scale real estate projects, Adebayo expanded to luxury developments and hospitality services, capitalizing on Ogun’s growing tourism.
Business Empire:
Real Estate: Residential and commercial property development
Hospitality: Hotels, resorts, and event centers
6. Engr. Femi Balogun — Manufacturing and Energy Investor ($400 Million)
Engr. Femi Balogun’s estimated net worth is $400 million, built primarily through manufacturing and energy sector investments. His businesses focus on production of industrial goods and renewable energy projects.
Balogun’s commitment to sustainable energy and manufacturing innovation places him among Ogun’s top industrialists.
How He Built His Wealth:
He identified opportunities in clean energy and industrial manufacturing, leveraging government incentives and partnerships.
Business Empire:
Manufacturing: Industrial goods and machinery
Renewable Energy: Solar and power projects
Infrastructure: Energy distribution
7. Alhaji Kunle Afolayan — Entertainment and Real Estate ($350 Million)
Alhaji Kunle Afolayan is a prominent figure in the entertainment industry with a net worth estimated at $350 million. Apart from producing award-winning films, he invests heavily in real estate and event centers.
His influence has helped Ogun State gain recognition as a creative and business hub.
How He Built His Wealth:
By pioneering Nollywood films and diversifying into property and events, Afolayan created multiple revenue streams.
Business Empire:
Film Production: Nollywood movies and distribution
Real Estate: Commercial properties and event centers
8. Chief Adekunle Adeyemi — Logistics and Transport Entrepreneur ($300 Million)
Chief Adekunle Adeyemi has a net worth of $300 million, made from his successful logistics and transport companies operating across Ogun State and Nigeria.
Adeyemi’s businesses have modernized freight and passenger transport, contributing to Ogun’s economic activities.
How He Built His Wealth:
He built a transport empire by investing in fleet modernization and efficient logistics management.
Business Empire:
Logistics: Freight and goods transportation
Transport: Passenger and commercial vehicle services
9. Dr. Bolaji Oyebamiji — Banking and Finance Executive ($280 Million)
Dr. Bolaji Oyebamiji is a seasoned banking executive with an estimated net worth of $280 million. His career spans commercial banking, investment management, and real estate financing.
Oyebamiji’s expertise has helped fund several Ogun State development projects.
How He Built His Wealth:
Through decades in banking and finance, Oyebamiji capitalized on investment opportunities in real estate and infrastructure.
Business Empire:
Banking: Commercial and investment banking
Real Estate Finance: Project funding and development
Asset Management
10. Mr. Samuel Oladipo — Commercial Agriculture and Export ($250 Million)
Mr. Samuel Oladipo is an agricultural entrepreneur with a net worth of $250 million. He focuses on cash crop farming, agro-export, and food processing businesses that have grown steadily in Ogun State.
Oladipo’s enterprises support local farmers and contribute to Nigeria’s food security.
How He Built His Wealth:
By scaling farming operations and tapping into export markets, Oladipo built a profitable agro-business.
Business Empire:
Commercial Farming: Cash crops and food production
Agro-export: International distribution
Food Processing: Packaging and branding
Conclusion
The richest men in Ogun State 2025 showcase the diversity of Nigeria’s economic potential. From telecommunications giants like Mike Adenuga to agricultural pioneers and real estate moguls, these businessmen have built vast wealth through innovation, hard work, and strategic investment.
Their stories inspire aspiring entrepreneurs and highlight Ogun State’s growing prominence in Nigeria’s economic landscape.
Frequently Asked Questions (FAQs)
1. Who is the richest man in Ogun State?
Otunba Mike Adenuga Jr. tops the list with a net worth of $8 billion, thanks to his telecom and oil ventures.
2. What industries are dominant among Ogun State’s richest men?
Key industries include telecommunications, agriculture, manufacturing, real estate, and logistics.
3. How did Segun Osoba build his wealth?
Through media enterprises, agriculture, and real estate investments combined with his political career.
4. Are there significant agricultural entrepreneurs in Ogun State?
Yes, several richest men like Dr. Kehinde Alabi and Samuel Oladipo have thrived in agriculture and agro-processing.
5. How has real estate contributed to wealth creation in Ogun State?
Real estate development and hospitality have become major sources of wealth, especially with Ogun’s expanding population and tourism potential.