Sokoto State, one of Nigeria’s most historic northern states, is not only known for its Islamic heritage and culture but also for its fast-growing economy. While agriculture remains the backbone of Sokoto’s economy, industries like oil and gas, politics, trade, and real estate have created wealthy businessmen and influential leaders in the state.
This article reveals the top 10 richest men in Sokoto State and their net worth in 2025. We will also break down the industries where they built their fortunes and their contributions to the state’s economic development.
By the end of this guide, you will understand how these successful men shaped Sokoto’s economy and what lessons entrepreneurs can learn from them.
1. Alhaji Aminu Waziri Tambuwal – Politician and Business Investor ($1.2 Billion)
Aminu Waziri Tambuwal, former Governor of Sokoto State and a seasoned politician, is considered one of the wealthiest individuals in the state with a net worth of $1.2 billion.
Business Empire and Influence
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Heavy investments in real estate across Sokoto, Abuja, and Lagos.
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Ownership stakes in agriculture and transport companies operating in northern Nigeria.
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Influential political network and contracts in construction and infrastructure.
Tambuwal’s wealth comes from both his political career and strategic business ventures.
2. Alhaji Umaru Kwabo – Construction and Real Estate Mogul ($950 Million)
Alhaji Umaru Kwabo is one of the most respected businessmen in Sokoto State. With a net worth of $950 million, he has made his fortune through construction, real estate, and agriculture.
Business Empire
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Owner of Kwabo Properties, a leading real estate company in Sokoto.
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Investments in road construction and major building projects in northern Nigeria.
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Expanding agriculture ventures in crops and livestock farming.
3. Alhaji Bello Sarkin Yaki – Agriculture and Oil Trader ($800 Million)
Alhaji Bello Sarkin Yaki is an agriculture magnate and oil trader with an estimated net worth of $800 million.
Business Ventures
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Large-scale agriculture and livestock farming operations in Sokoto.
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Investments in oil trading companies with business ties across West Africa.
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Real estate properties in Kano, Abuja, and Sokoto.
4. Muhammadu Sa’ad Abubakar III – The Sultan of Sokoto ($780 Million)
The Sultan of Sokoto, Muhammadu Sa’ad Abubakar III, is the spiritual leader of Nigerian Muslims and a key influencer in politics and business. His net worth is estimated at $780 million.
Sources of Wealth
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Vast land holdings and investments in real estate.
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Influence in agriculture and livestock industries.
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Patronage from religious and cultural organizations.
The Sultan also plays a crucial role in promoting economic development and stability in Sokoto.
5. Alhaji Aliyu Magatakarda Wamakko – Politician and Business Tycoon ($750 Million)
Aliyu Wamakko, a former governor and senator from Sokoto State, is another wealthy politician-businessman with an estimated net worth of $750 million.
Business Empire
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Major stakes in construction companies handling state contracts.
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Ownership of large farmlands and real estate properties in Sokoto and Abuja.
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Involvement in logistics and oil trading businesses.
6. Alhaji Shehu Malami – Oil and Real Estate Investor ($600 Million)
Alhaji Shehu Malami, a highly respected businessman, has a net worth of $600 million.
Business Ventures
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Investments in oil and gas trading companies.
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Partnerships in luxury real estate projects across Nigeria.
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Long-standing interests in import-export businesses.
7. Alhaji Ismaila Isa Funtua – Construction and Media Influencer ($550 Million)
Alhaji Ismaila Isa Funtua, though originally from Katsina, has deep business ties with Sokoto State. His net worth is estimated at $550 million.
Business Interests
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Founder of BUK Construction, one of Nigeria’s biggest construction firms.
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Investments in media companies, giving him influence in communications.
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Real estate projects and agriculture ventures in Sokoto and Abuja.
8. Alhaji Bashir Gidado – Commerce and Agriculture Magnate ($500 Million)
Alhaji Bashir Gidado has a net worth of $500 million and is best known for his contributions to commerce and agriculture in Sokoto State.
Business Empire
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Major rice and wheat farming enterprises.
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Ownership of large wholesale and retail businesses.
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Investments in logistics companies transporting goods nationwide.
9. Alhaji Garba Tambuwal – Real Estate and Trade Investor ($480 Million)
Alhaji Garba Tambuwal is another influential figure in Sokoto’s business scene with a net worth of $480 million.
Business Ventures
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Extensive real estate projects in Sokoto and Abuja.
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Investments in agriculture and retail trade.
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Stakeholder in construction firms handling private and government projects.
10. Alhaji Abubakar Balarabe – Transport and Logistics Investor ($450 Million)
Alhaji Abubakar Balarabe rounds off the list with an estimated net worth of $450 million.
Business Ventures
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Founder of a major logistics and transport company in northern Nigeria.
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Investments in oil marketing and agriculture.
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Real estate properties in prime areas of Sokoto and Lagos.
Summary Table of the Top 10 Richest Men in Sokoto State
| Rank | Name | Net Worth (USD) | Main Industries |
|---|---|---|---|
| 1 | Aminu Waziri Tambuwal | $1.2 Billion | Real Estate, Agriculture, Politics |
| 2 | Umaru Kwabo | $950 Million | Construction, Real Estate, Farming |
| 3 | Bello Sarkin Yaki | $800 Million | Agriculture, Oil Trading, Real Estate |
| 4 | Muhammadu Sa’ad Abubakar III | $780 Million | Real Estate, Agriculture, Religion |
| 5 | Aliyu Wamakko | $750 Million | Construction, Oil Trading, Real Estate |
| 6 | Shehu Malami | $600 Million | Oil & Gas, Real Estate, Import-Export |
| 7 | Ismaila Isa Funtua | $550 Million | Construction, Media, Real Estate |
| 8 | Bashir Gidado | $500 Million | Agriculture, Commerce, Logistics |
| 9 | Garba Tambuwal | $480 Million | Real Estate, Retail, Construction |
| 10 | Abubakar Balarabe | $450 Million | Logistics, Agriculture, Oil Trading |
Frequently Asked Questions (FAQs)
1. Who is the richest man in Sokoto State?
Aminu Waziri Tambuwal is currently the richest man in Sokoto State with a net worth of $1.2 billion.
2. Which industry makes the most billionaires in Sokoto?
Real estate, agriculture, oil trading, and construction are the top industries producing billionaires in Sokoto.
3. Does the Sultan of Sokoto own businesses?
Yes. Muhammadu Sa’ad Abubakar III has investments in real estate and agriculture alongside his religious duties.
4. How did Sokoto’s wealthy men become rich?
Most built wealth through diversified businesses in agriculture, real estate, construction, politics, and oil trading.
5. Are there young billionaires in Sokoto State?
Yes, younger entrepreneurs are rising in technology, logistics, and commerce, although they are yet to reach the top 10.
6. Do these men invest in community development?
Most of Sokoto’s richest men are active philanthropists, funding schools, hospitals, and poverty alleviation projects.
Conclusion
The top 10 richest men in Sokoto State have built their fortunes through real estate, agriculture, oil trading, politics, and construction. They play vital roles in Sokoto’s economy by creating jobs, investing in infrastructure, and supporting local businesses.
These men are not only symbols of wealth but also influence the growth and development of Sokoto State. Their success stories can inspire budding entrepreneurs in Nigeria to pursue opportunities in agriculture, trade, and real estate.