Nigerians in west African countries are known for keeping their tradition and their forms of hierarchical system, despite the recent wave of civilization that is sweeping the continent. In these hierarchical forms of system, they have heads whom they refer to as kings, and there are Traditional rulers that are seen as demigods because of their activities and duties, they are like God’s representative on earth. Regarding their influence, lifestyle, and net worth, we’ve compiled the list of the Top 5 richest Kings in Nigeria in 2022.
5. Nnaemeka Alfred Ugochukwu Achebe
Nnaemeka Alfred Ugochukwu Achebe is the Obi of Onitsha and is recorded as the fifth richest king in Nigeria with an estimated net worth of $50 Million. He is undoubtedly one of the most prominent monarchs in the eastern part of Nigeria. Before he ascend the throne as the Obi of Onitsha, He was once the Chancellor of Ahmadu Bello University, Zaria, and he had a long and distinguished career in the Royal Dutch Shell Group serving as Director in various companies in the group.
The Obi of Onitsha was also the chairman of Diamond Bank PLC and the Universal Insurance PLC and is currently the chairman of Unilever Nigeria PLC, Intafact Beverages Limited (SAB-Miller), and International Breweries (ABInBev) Nigeria. and Omak Maritime Limited.
He has served the nation on panels of inquiry in the petroleum on two occasions. He was among the member of the Administration Panel of Enquiry on the Porth Harcourt Refinery in 1976. In 2004, Nigeria’s former president Olusegun Obasanjo called him to be Chairman of the Presidential Enquiry into the February 2003 Fuel shortage in the country.
4. Oba Ewuare II Ogidigan
The 40th Oba of Benin, Oba Ewuare II Ogidigan is the traditional ruler of the Benin Kingdom and the fourth richest king in Nigeria with an estimated net worth of $60 Million joins the list of the richest kings in Nigeria in 2022. He wields an enormous deal of power, authority, and influence.
He ascended the throne in October 2016, and he started his rule by demanding that the spiritually and historically important Benin Bronzes that were stolen in 1897 by the British Empire be returned to his people. The Oba of Benin is also Nigeria’s ambassador to some foreign nations between 1981 to 1982.
He holds a degree in Economics from the University of Wales, UK, and a Master’s degree in Public Administration from Rutgers University Graduate School, New Jersey, USA.
3. Oba Adeyeye Ogunwusi Eniitan
Oba Adeyeye Ogunwusi enitan, the Ooni of Ife is the most respected and influential king in Yoruba Land. You must indeed accord him some respect when addressing him. The Ooni ranks as one of the most respected rulers in the world and holds a lot of power and authority in the Yoruba land. Besides his royal status, he is a successful real estate businessman and the Chancellor of the University of Nigeria, Nsukka. His net worth is estimated at about $70 Million, making him the third richest king in Nigeria.
Oba Adeyeye is a member of the Institute of Chartered Accountants of Nigeria, an Associate Accounting Technician and a certified member of the Institute of Directors. He is also a member of the Global Real Estate Institute. He holds a number of honorary doctorate degrees: one in Public Administration from the University of Nigeria, Nsukka, and another in Law from Igbinedion University.
He is an advocate for the empowerment and emancipation of women and young people. Oba Adeyeye is also a renowned philanthropist, who is committed to humanity and an advocate for the less privileged and he has granted support over the years through the House of Oduduwa Foundation.
2. Sa’adu Abubakar
The 20th sultan of Sokoto, Sa’adu Abubakar, the Sultan of Sokoto, with an estimated net worth of $100 Million, takes second place among the richest kings in Nigeria in 2022.
Undoubtedly, the Sultan of Sokoto is among the richest kings in Nigeria and also among the richest in Africa. The Sultan of Sokoto is, in fact, the most powerful ruler in the northern part of Nigeria. As the Sultan of the Sokoto Caliphate, He is considered the spiritual leader of Nigeria’s Muslims and the most powerful traditional ruler in northern Nigeria.
Sa’adu Abubakar was born on August 24, 1956, and is the youngest son of the 17th Sultan, Sir Siddiq Abubakar III, who held the Sultanate for over fifty years. He ascended the throne in November 2006, following the death of his brother, Muhammadu Maccido, who died on ADC Airlines Flight 53.
As the Sultan of Sokoto, he is the head of the Qadiriyya Sufi order, which is the most important Muslim position in Nigeria, and senior to the Emir of Kano, the leader of the most populous Tijaniyya Sufi order. He is also the head of Jama’atu Nasril Islam (Society for the Support of Islam – JNI), and president-general of the Nigerian Supreme Council for Islamic Affairs (NSCIA).
1. Oba Obateru Akinrutan
HRM Frederick Obateru Akinruntan also known as the Ulugbo of Ugbo is the traditional ruler (King) of the Ugbo Kingdom, a town in Ilaje, Ondo State. Although, he is not the most powerful Oba in Yoruba land, but is the richest king in Nigeria, and the second richest in Africa with an estimated net worth of $300 Million according to Forbes.
His major source of wealth is Oil. Obateru Akinrutan is the founder and owner of OBAT Oil, one of Nigeria’s largest leading privately held oil companies. He started as a gas station in 1981 in Ondo state, Nigeria. The company presently has more than 50 gas stations across the six geopolitical zones of Nigeria and one of the largest tank farms in Africa.
Oba Akinruntan OBAT Oil company houses one of largest tank farms in Africa that has the ability to save 70 million liters of petroleum products. He has landed properties both in Nigeria and even in London. He is also into real estate and owns a popular hotel located in the Federal Capital Territory, Abuja.
According to reports, Obateru is the first black person to buy the 2014 model of Bentley automobile. He has a custom-built 2012 Rolls Royce similar to that of Queen Elizabeth II of England and a wristwatch that cost $1 million.
5 richest kings in Nigeria (2022)
| Rank | Name | Title | Net worth |
| 1 | Oba Obateru Akinrutan | Olugbo of Ugbo | $300 Million |
| 2 | Sa’adu Abubakar | Sultan of Sokoto | $100 Million |
| 3 | Oba Adeyeye Ogunwusi Eniitan | Ooni Of Ife | $70 Million |
| 4 | Oba Ewuare II Ogidigan | Oba of Benin | $60 Million |
| 5 | Nnaemeka Alfred Ugochukwu Achebe | Obi of Onitsha | $50 Million |
These are the current list of the richest Kings in Nigeria in 2022 according to Forbes. If you have any other different opinions or perspectives than these 5, you can drop your opinions in the comment section.
