Nigeria has always been known as a country that give recognition to traditional rulers also known as kings. These traditional rulers often derive their titles from the rulers of independent states or communities that existed before the formation of modern Nigeria. No-one knows the number of monarchs in multi-ethnic Nigeria but there seems to be one ruling over every inch of land.
Although they do not have formal political power, in many cases they continue to command respect from their people and have considerable influence; they are also recognized and highly respected by political leaders.
With the very rich culture from the multi-tribes in Africa’s populous country, these kings are seen in their regalia, arrayed with the finest of jewelries & adornment. Apart from their influence, these kings are also well-known for their affluence. This abundant wealth comes in different degrees and is valued based on their individual possession, as well as the worth of their kingdoms. While some of them made their wealth before assuming their kingship throne, others became wealthy in affiliation to their kingly office.
Let’s take a look at seven of these kings and how much they are worth from the least to the top.
Rilwan Babatunde Aremu Akiolu – Oba of Lagos
Oba Babatunde Aremu Akiolu is also one of the wealthiest kings in Nigeria. He is not just one of the richest kings in Nigeria but also properly educated. He went to the University of Lagos, bagged an LL.B. degree, and served in the Nigerian Police Force for 32 years.
The Oba of Lagos is so rich that his palace alone is worth over 350 million Naira. He has a net worth and has been estimated to be worth over $40 million.
Being the Assistant Inspector General of the Nigerian Police Force, Akiolu was awarded a Mercedes-Benz S550 worth over ₦25 million. He also renovated the Iga Idunganran his palace, making it worth over ₦350 Million – one of the most expensive palaces in the country.
Ugochukwu Nnaemeka Achebe CFR – Obi of Onitsha
Ugochukwu Nnaemeka is the monarch of Onitsha, Anambra State. He is one of the most educated monarchs in the country. Achebe holds a Bachelor of Science degree in Chemistry from Stanford University in 1966 and a master’s degree in Business Administration from Columbia University. Achebe has held positions on the governing councils of the Petroleum Training Institute, Effurun, and the Nigerian Employers’ Consultative Association. He is currently a trustee, National Traditional Rulers Council and its state Chairman in Anambra State.
He is an industrious businessman, having worked in the financial Institution, before engaging himself in the Petroleum Industry. He once served as the Executive Director of Shell Oil. He is currently the Vice-Chancellor of Ahmadu Bello University, Zaria.
He is also the Chairman of UNILEVER. A brand that manufactures popular beverages and products such as Lipton label tea, Vaseline, Lux soap, Lifebuoy, Close up, Pepsodent.
Ugochukwu Nnaemeka has made a name for himself in the career & business world, making him one of te kings who became extremely wealthy before becoming a monarch.
Oba Ewuare Erediauwa Ogidigan II
Net worth: about N27.6 Billion
The traditional ruler for Benin bears the title “Oba of Benin”. The present Oba of Benin is Ewuare II. He authorizes great power and influence – it is said that his policies hold more influence to the Benin people even than that of the Governor of Benin. Oba Ewuare Erediauwa, born on 20th October 1953 is the 40th Oba of Benin. He was crowned on 20th October 2016. He is a first class king and one of the highly internationally recognised kings in Africa.
He graduated from the University of Wales, the UK as an Economist. He obtained a Masters’s Degree in Public Administration from Rutgers University Graduate School, New Jersey USA. He was Nigeria’s High Commissioner to the United Nations from 1981-1982, and Nigeria’s ambassador to Sweden, Angola, and Italy.
He has five wives and four children in his household. The oba of Benin joins his other traditional rulers with the car choice of a Rolls-Royce Phantom 2016 model with an estimated cost of over ₦150 million.
Oba Adeyeye Enitan Ogunwusi – Oba of Ife
Net worth: about N32.3 Billion
Oba Adeyeye is one of the highly educated ruler in Nigeria. He studied Accounting at the Ibadan Polytechnic, Public Administration at the University of Nigeria Nsukka, and Law at Igbinedion University. He is also a member of the Institute of Chartered Accountants of Nigeria and an Associate Accounting Technician.
The Oba of Ife is a businessman, with investments in the Oil Industry and Real Estate. He has been previously married twice, but is currently married to Morenike Naomi Oluwaseyi and has two children. The oba isn’t left out from kings that have a Roll- Royce car in their garage. He owns a Rolls-Royce Phantom model year 2011, 2 Bentleys and a Mercedes Benz S550.
It is worthy to note that Oba Adeyeye also made most of his wealth from his entrepreneurial career and one of the few kings to do so.
Muhammadu Sa’adu Abubakar the IV– The Sultan of Sokoto
Sultan Abubakar presides over the Sokoto Caliphate and is the most powerful monarch in the country. Sultan Abubakar is the 20th Sultan of the Sokoto Caliphate. He took the throne in 2006 when his predecessor, Sultan Miccado, the 19th Sultan of Sokoto, kicked the bucket earlier that year. He is the spiritual ruler of the Nigerian Muslims. He heads the Nigerian National Supreme Council for Islamic Affairs (NSCIA) as President General.
Sultan Abubakar also possesses military experience. Before he retired, he served as Nigeria’s Defence Attaché to Pakistan from 2003-2006, chief security officer to one of the most powerful military rulers in Nigeria, General Ibrahim Babangida, and also when on other tours and military operation. He retired as a Brigadier General, so before he would be seen as a monarch.
The Sultan Abubakar IV has an A-game when it involves cars. Among his fleets of cars, most notable is his Rolls-Royce 2017. Sultan Abubakar IV owns fleets of cars, but the most notable is his model Rolls-Royce 2017.
Oba Obateru Akinruntan
Oba Obateru Akinruntan is the royal leader of Ugbo kingdom –a town in Ilaje Local Government, Ondo State, southwestern Nigeria. He bears the title of “Olugbo of Ugbo”, it is no doubt that Oba Akinruntan is one of the notable Yoruba monarchs within and outside Ondo State. His wealth has earned him the richest king not only in the Yoruba kingdom but also in the entirety of Nigeria at this present time.
Obateru was born in 1950 into the royal family of Sir Frederick Adetolugbo at Ugbo, a riverine area in Ilaje. He is the fourth child of a family of eight. Oba Obateru Akinruntan is the founder and CEO of Obat Petroleum, owning some of the biggest oil tanks, farms, and storage in Africa. Their facility can hold over 90 million gallons of crude oil and other petroleum products.
Oba Obateru Akinruntan is one of the few Nigerian monarchs that didn’t acquire his wealth from being a Monarch but by sheer entrepreneurial efforts. He mainly deals with oil and gas but has other investments in real estate, pharmaceuticals, and agriculture.
He likes to describe himself as a stylish person so he uses diamonds and gold to adorn himself. He also has a custom-built 2012 Rolls Royce which Queen Elizabeth II has and he sure boasts of that. Oba Obateru Akinruntan is the first black man to own a 2014 model of Bentley automobile.
Honorable mention:
Late Lamidi Olayiwola Adeyemi III – Alaafin of Oyo
Net worth before demise: N18.6 Billion
Lamidi Olayiwola Adeyemi III was the Alaafin, or traditional ruler, of the Yoruba town of Oyo and the rightful heir to the throne of its historic empire. Lamidi Adeyemi succeeded Alaafin Gbadegesin Ladigbolu II in 1970, during the governorship of Colonel Robert Adeyinka Adebayo, after the end of the Nigerian Civil War.
He was born on October 15, 1938 into the Alowolodu Royal House. His father is said to have had over 200 wives. His paternal grandfather Alaafin Adeyemi I Alowolodu, was the last independent ruler of the Oyo Empire before British colonialism. He is a direct descendant of Oranmiyan, the founder of the Oyo Empire.
He was married to Ayaba Abibat Adeyemi, his most senior wife. He attends most events with her or with one of the twelve junior wives that he’s also married to. His other wives are Ayaba Rahmat Adedayo Adeyemi, Ayaba Mujidat Adeyemi, Ayaba Rukayat Adeyemi, Ayaba Folashade Adeyemi, Ayaba Badirat Ajoke Adeyemi, Ayaba Memunat Omowunmi Adeyemi, Ayaba Omobolanle Adeyemi, Ayaba Moji Adeyemi, Ayaba Anuoluwapo Adeyemi, and Ayaba Damilola Adeyemi.
Oba Lamidi Adeyemi was a big fan of cars, especially big ones. He owns over 36 SUVs cars from different Japanese brands. One of the grandest in his collection is a Lexus GX 470, an armored Toyota Land Cruiser, Toyota Prado, and a stretched hummer limousine. His palace is even considered a historical monument.