Politics in Nigeria is already seen as a business. As a result, becoming a politician does not necessitate being a patriotic citizen. Nigerian senators, in fact, are renowned to have the highest pay of any country’s senators. As a result, politics continues to be one of Nigeria’s most lucrative high-class enterprises. Hence this post explores the current list of richest politicians in Nigeria.
Even when we talk about the wealthiest people in Nigeria today, the top spot is usually taken by a politician or a senator. These politicians, on the other hand, are suspected of embezzlement and poor governance. But who is to blame for all of this? Regardless, in today’s post, I’ll explain the actual list of Nigeria’s wealthiest politicians, as well as their estimated net worth.
List of Richest Politicians in Nigeria
Below are the richest politicians in Nigeria:
1. Atiku Abubakar – $1.8 Billion
Atiku Abubakar is one of Nigeria’s richest citizens. He is also one of, if not the richest, parliamentarians in the country. Atiku is most known for serving as Vice President under President Olusegun Obasanjo (1999–2007), who held the office for two terms. In the February 2019 election, he stood for President but was beaten by President Muhammadu Buhari, who was re-elected.
Atiku Abubakar is also recognised for his business skills; he runs a logistics company and is a major shareholder in the American University of Nigeria (AUN), which he founded in 2015. The net worth of Atiku Abubakar is believed to be $7 billion.
2. Bola Ahmed Tinubu – $4 Billion
Nigeria’s recognised richest politician is Bola Ahmed Tinubu, who served as governor of Lagos State from May 1999 until May 2007. Bola Tinubu is the National Leader of the All Progressives Congress party and the alleged owner of Oando PLC, Nigeria’s largest oil-producing company with a revenue of $449 million.
Bola Tinubu has secured properties worth over 120 billion dollars in Nigeria, including a 5-billion-dollar mansion on Bourdillon Drive in Ikoyi, Lagos. He has a $600 million G-Wagon, two additional Mercedes Benzes, a Range Rover, a Lexus LX 550, and a slew of other high-end vehicles. Not to mention his $60 million Bombardier Global Express XRS, which is very certainly not his sole aircraft.
3. Ibrahim Babangida – $5 Billion
General Ibrahim Babangida is a former military president of Nigeria as well as a former head of state. IBB, or General Ibrahim Babangida, was most known for his participation in the annulment of the presidential election of June 12, 1991, in which the late MKO Abiola was declared the winner. General Ibrahim Babangida was believed to have a net worth of $5 billion before his death.
4. Olusegun Obasanjo – $1.6 Billion
Chief Olusegun Obasanjo is a former Nigerian military leader who led the country from 1976 to 1979 before becoming the civilian president of the Federal Republic of Nigeria from 1999 to 2007, when he shared an eight-year tenure with Atiku Abubakar.
Olusegun Obasanjo, the former President of Nigeria, is one of the most well-known names on our list. Obasanjo owns Nigeria’s largest chicken farm, as well as the largest in West Africa, the Obasanjo farms. Chief Olusegun Obasanjo is regarded as one of Nigeria’s wealthiest politicians. Chief Olusegun Obasanjo’s net wealth is projected to be $1.6 billion as of 2021.
5. Rochas Okorocha – $1.5 Billion
Rochas Okorocha is believed to be one of Nigeria’s wealthiest politicians. He is one of Nigeria’s most famous politicians from the country’s eastern area. Rochas is the former governor of Nigeria’s Imo State. During his time in office, he completed a number of significant initiatives that helped him further his political career.
Rochas Okorocha was a successful businessman in Nigeria before entering politics. He is a philanthropist in addition to being a politician and a businessman. The Rochas Foundation was founded by Rochas Okorocha. This is a charity that helps the less fortunate members of society. Rochas has risen through the ranks to become not just one of the wealthiest, but also one of the greatest politicians in the country.
6. Orji Uzor Kalu – $1 Billion
Orji Uzor Kalu is a politician and businessman from Nigeria. He is the chairman of SLOK Holdings, the Nigerian media conglomerate that owns the Daily Sun and New Telegraph. He was the Governor of Abia State in Nigeria from May 29, 1999 until May 29, 2007.
Before his election, he was the head of the Borno Water Board and the Cooperative and Commerce Bank Limited.
He was the chairman of the Borno Water Board and the chairman of the Cooperative and Commerce Bank Limited before his election. Kalu was a member of the Peoples Democratic Party (PDP), the Progressive Peoples Alliance (PPA), and the PPA Board of Trustees chairman. In the general election in April 2007, he ran as the party’s presidential candidate.
7. Bukola Saraki – $1 Billion
He was the 13th President of the Nigerian Senate and Chair of the 8th Nigerian National Assembly from 2015 to 2019. He served as Governor of Kwara State from 2003 to 2011, and was elected to the Senate in 2011, representing the Kwara Central Senatorial District, under the Peoples Democratic Party (PDP), and then re-elected in the 2015 general elections under the platform of the All Progressives Congress (APC).
Saraki announced his candidacy for the PDP presidential ticket in the 2019 election, but was defeated by Atiku Abubakar in the primaries.
8. Dino Melaye – $800 Million
Dino Melaye is a Nigerian politician and former Senator who represented the Kogi West Senatorial District in the 8th Nigerian National Assembly. He is from Ayetoro Gbede in Kogi State’s Ijumu Local Government Area.
Dino Melaye is a former senator and current member of the People’s Democratic Party in Nigeria. After months of political wrangling with the Kogi State governor, he switched to the All Progressives Congress (APC) in 2015, but returned to the PDP in the run-up to the 2019 elections. He chaired the Senate Committee on the Federal Capital Territory (FCT) in Abuja. In addition, the Chairman of the Senate Committee on Aviation in Nigeria.
Dino Melaye was born in the Nigerian state of Kano. He received his secondary school education at the Command and Air-Force Secondary School in Kaduna. He graduated from Ahmadu Bello University in Zaria with a bachelor’s degree in geography in 2000.
9. Rotimi Amaechi – $757 Million
Rotimi Amaechi is the current Minister of Transportation in President Muhammadu Buhari’s cabinet. He was the previous governor of Rivers State. Amaechi is 53 years old and has three children with his wife, Judith Amaechi. He earned a BA in English Language from the University of Port Harcourt.
From 1999 until 2007, Rotimi Amaechi served as Speaker of the Rivers State House of Assembly. Amaechi is a member of the APC as well. He is a Commander of the Order of the Niger and a devout Catholic (CON). Rotimi Amaechi’s net worth was reported to be $757 million during his time as governor of Rivers State.