Check out the list of the top 10 richest politicians in Nigeria today, as of 2022.
It is a known fact that some of the rich people in Nigeria are also politicians. We have had government executives who are also on the top lists of wealthy men and women due to their salaries, allowances, and other things too.
From governors, senators, deputy senators, and other officials who have made it to the list of the richest politicians in Nigeria.
You should check out our list of all presidents of Nigeria and their achievements since 1960.
Without a doubt, some of the richest Nigerian politicians are not only passionate about the kind of work they do, but they also believe in the wisdom of investing their wealth and resources through business deals, real estate, inheritance, and other investments.
The wealth of Nigerian politicians is unbounded. Politics in Nigeria is no doubt one of the most talked-about topics in the country.
Most Nigerians are quite aware that politicians are well paid, however, few know the actual amount of money the Nigerian politicians make.
If you are an inquisitive person, or if you desire to become one, it will be of interest to you to know the richest political figures in Nigeria.
Some of these politicians have gone beyond the traditional means of making wealth. I say this because some of them weren’t born into wealthy families—they reached a high level of status through hard work and determination.
In this article, I will be telling you about these rich individuals, their sources of income, and how they got there.
The Top 10 Richest Politicians In Nigeria 2022
|Rank||Richest Politicians In Nigeria||Estimated Net Worth|
|#1||Bola Ahmed Tinubu||$8.4 Billion|
|#2||Ibrahim Badamasi Babangida||$5 Billion|
|#3||Ifeanyi Ubah||$1.7 Billion|
|#4||Olusegun Obasanjo||$1.6 Billion|
|#5||Rochas Okorocha||$1.4 Billion|
|#6||Atiku Abubakar||$1.4 Billion|
|#7||Orji Uzor Kalu||$1.1 Billion|
|#8||Ahmadu Adamu Mu’azu||$895 Million|
|#9||Dino Melaye||$800 Million|
|#10||Rotimi Amaechi||$780 Million|
1. Bola Ahmed Tinubu – $8.4 Billion
Bola Ahmed Tinubu is a Nigerian politician and accountant who has served as the party’s national head since the APC’s inception in 2013. The APC is one of the 18 major political parties in Nigeria today.
From 1992 to 1993, he served as a senator for the Lagos-West senatorial district before being elected governor of Lagos State, which he held from 1999 to 2007.
In 1979, he graduated from Chicago State University with a bachelor’s degree in business administration. The aristocratic title ‘Asiwaju’ was awarded to him by Lagos’ traditional ruler, Oba of Lagos, who occupies a ceremonial status as Lagos’ traditional leader.
Oluremi Tinubu, the incumbent senator for the Lagos Central constituency, is the wife of Senator Tinubu.
Asiwaju Bola Ahmed has a home in Ikoyi, Lagos, which is worth an estimated $5 billion, as well as a number of other properties across Nigeria. One of his prized possessions is a G-wagon, although he also has two additional Mercedes Benz, a Range Rover, and other fine automobiles.
He has a Bombardier Global Express XRS private jet worth $60 million, but he’s rumored to have a number of other aircraft.
$8.4 billion is the expected net worth of Bola Ahmed Tinubu by 2022, and he is no doubt one of the richest politicians in Nigeria.
Currently, Tinubu is the APC’s presidential candidate for the presidential election which will take place in 2023.
2. Ibrahim Badamasi Babangida – $5 Billion
Ibrahim Babangida is a former general in the Nigerian Army and a politician. He was born on the 17th of August 1941. From 1985 until his resignation in 1993, he served as Nigeria’s military ruler. He stepped down in 1993.
Babangida didn’t just make it to the second spot on the list of the richest politicians in Nigeria, he has paid the price for success, power, and wealth.
After completing his studies at Government College Bida on December 10, 1962, Ibrahim Babangida enlisted in the military. In addition, he received his education at the Nigerian Military Training College located in Kaduna.
On September 26, 1963, Ibrahim Babangida graduated from the Indian Military Academy with the rank of second lieutenant and was commissioned as a regular combatant officer in the Royal Nigerian Army. He served during the Nigerian Civil War.
On the other hand, he did spend the months of April through September 1963 studying at the Indian Military Academy.
It is estimated that Babangida’s net wealth exceeds $5 billion. It is thought that he is in possession of a fortune worth several billion dollars, which he obtained through covertly purchasing shares in a number of different Nigerian businesses.
3. Ifeanyi Ubah – $1.7 Billion
Next on the list of the richest politicians in Nigeria is Patrick Ifeanyi Ubah, a Nigerian businessman, and entrepreneur who was born on September 3, 1971, and currently serves as a senator for Nigeria’s Anambra South Senatorial District. Since 2001, he has served as the founder and CEO of Capital Oil.
Ifeanyi Ubah expanded his commercial operations into European countries like the United Kingdom, and Belgium.
As an exporter, he exports several automobile tires and spare parts to countries such as Sierra Leone, Ghana, Liberia, and the Democratic Republic of the Congo.
He founded Nigeria’s daily newspaper, The Authority, and he now owns the Nigerian Premier League football team, Ifeanyi Ubah F.C., which he bought at the time it was called Gabros International Football Club.
He currently sits on a ground-shaking estimated net worth of $1.7 billion, making him one of the richest Nigerian politicians.
4. Olusegun Obasanjo – $1.6 Billion
A Nigerian general, statesman, and diplomat, Olusegun Obasanjo was the continent’s first military leader to hand over control to a civilian government.
A former Nigerian military dictator from 1976 to 1979 and civilian president from 1999 to 2007 Obasanjo was born on the 5th of March 1937 in Abeokuta, Nigeria.
While serving, Obasanjo advanced quickly through the ranks of the army. He was in charge of a commando division operating at the Biafran front in southeast Nigeria during the Biafra crisis from 1967 to 1970. In January 1970, the Biafrans surrendered to him, ending the fight.
According to some, Obasanjo is one of Africa’s post-colonial figures. He is no doubt deserving of being among the richest politicians in Nigeria.
Because of his many outstanding accomplishments, he is recognized as one of Nigeria’s best presidents. He’s also one of Nigeria’s wealthiest politicians, according to Forbes.
Related: Top 10 Richest musicians in Nigeria
5. Rochas Okorocha – $1.4 Billion
Rochas Okorocha is a politician in Nigeria who hails from the state of Imo and is of Igbo descent.
In the 9th Nigerian Senate, he is now serving as the Senator for the Imo West Senatorial constituency. Additionally, he served as the Governor of Imo State in the past.
Do check out the 36 states and capitals in Nigeria in this post.
In the months leading up to the general election in 2011, Rochas initially affiliated himself with the All Progressive Grand Alliance (APGA), but then switched allegiances to the APC. In 2011, Rochas won the election for the position of governor of the state and went on to serve for a total of four years.
Owelle Rochas Okorocha was born on the 22nd day of March, 1962 in Ogboko, which is located in the Ideato South Local Government Area of Imo State. He ascended from humble beginnings to become the state governor.
Due to the fact that his parents were impoverished, he worked as a peddler in Barkin Ladi, Jos. By the year 2007, Rochas Okorocha had already entered politics and gathered a sizeable following, which prompted him to run for governor under the banner of the Peoples Democratic Party in the general election that year (PDP).
Rochas is one of the many politicians who rose to become one of the richest politicians in Nigeria through hard work and dedication. He had already recorded a measure of success before venturing into politics.
6. Atiku Abubakar -$1.4 Billion
Atiku Abubakar is a Nigerian politician and businessman who was born on November 25th, 1946.
He served as Vice President of Nigeria from 1999 to 2007, during Olusegun Obasanjo’s presidency, and he is currently running for the office of the President of Nigeria.
He worked for the Nigeria Customs Service for a total of twenty years, climbing through the ranks to become the Deputy Director of the agency, which was the second-highest position available at the time.
In April of 1989, he got out of the military and immediately started working full-time in business and politics. His dealings in businesses and investment have qualified him to be the second northerner on this list of the richest politicians in Nigeria.
In 1991, he made an unsuccessful bid for the position of governor of the old Gongola State, which is now divided into the states of Adamawa and Taraba. He then made a second unsuccessful bid for the presidency in 1993.
Atiku has made a total of five unsuccessful runs for the presidency of Nigeria over the course of his political career. He has never been successful.
In an unyielding manner, he would be satisfied with his performance in the presidential elections of 2023 as he is currently contesting for the position.
7. Orji Uzor Kalu – $1.1 Billion
Orji Uzor Kalu is no doubt on the list of Nigeria’s billionaires. He is a prominent figure in the political and commercial worlds in Nigeria.
In addition to his role as Chief Whip of the Senate in Nigeria, he is also the Senator for Nigeria’s Abia North Senatorial District.
In 1999, Kalu ran for the office of Governor of Abia State in Nigeria under the banner of the People’s Democratic Party and won. He went on to serve as Governor of Abia State for a total of two terms, from 1999 to 2007.
At the age of 19, he launched his first firm, which involved the trade of commodities such as palm oil, rice, and sugar. This came after he was kicked out of the university for leading a sequence of student disturbances. Forbes states that in order to get the business off the ground, he had to borrow $35 from his mother.
In later years, he worked in the transportation and furniture manufacturing industries. He had amassed a million dollars in wealth by the time he turned 20 years old.
In 2015, Forbes Magazine ranked him as having the 49th highest net worth of the 50 richest people in Africa. Without a shadow of a doubt, Kalu is one of the most successful and richest politicians in Nigeria.
8. Ahmadu Adamu Mu’azu – $895 Million
Ahmadu Adamu Mu’azu is a politician from Nigeria who served as the governor of Bauchi State and as the national chairman of the People’s Democratic Party in the past (PDP). He is one of the wealthiest politicians in all of Nigeria. RNN would be investigating his care history, biography, and financial worth.
Born on June 11th, 1955 in Boto, which is located in the Tafawa Balewa Local Government of Bauchi State, Nigeria, Alhaji Ahmadu Adamu Mu’azu is a Nigerian politician. Between the years 1962 and 1968, he attended Primary School. He graduated in 1968.
In addition, he received a distinction in the West African School Certificate Examination while he was a student at Gindiri’s Boy’s Secondary School from the years 1971 to 1975. (WAEC).
After that, he enrolled in the School of Basic Studies at Ahmadu Bello University in Zaria, where he eventually graduated with a Bachelor of Science degree in Quantity Surveying. After that, in 1983, he decided to go back to school and eventually earned a Master of Science degree in Construction Management.
Ahmadu Adamu Mu’azu Property management was one of his responsibilities at the Bauchi State Investment and Property Development Company, where he worked. With a total income of 895 million dollars, he is one of the top ten richest politicians in all of Nigeria.
In his garage, Mu’Azu has his Lexus LX570, Range Rover Discovery, and Toyota Prius all parked together.
9. Dino Melaye – $800 Million
Dino Melaye is a Nigerian politician who represented the Kogi West Senatorial district during his time as a senator and as a member of the 8th Nigerian National Assembly.
Melaye served in the Senate from 2007 to 2015. The Ayetoro Gbede community in the Ijumu Local Government Area of Kogi State is his hometown.
The veteran politician is well-known for his collection of expensive automobiles, including a Bugatti Veyron (valued at $616 million), three Rolls-Royces (valued at $318 million each), Lamborghini Huracans (valued at $86.7 million each), Bentley Continentals (valued at $71 million each), and a great deal of other exotic and luxury vehicles.
Dino Melaye is considered to be one of the wealthiest politicians in Nigeria thanks to his estimated net worth of 800 million dollars as of the year 2022.
10. Rotimi Amaechi – $780 Million
10th on this list of the top 10 richest politicians in Nigeria is Rotimi Amaechi.
Chibuike Rotimi Amaechi is a Nigerian politician who was appointed by President Muhammadu Buhari to the position of Minister of Transportation in the Nigerian government’s cabinet. He has held this position since April 2016.
His prior positions include being Governor of oil-rich Rivers State from 2007 to 2015 and Speaker of the Rivers State House of Assembly from 1999 to 2007. Both of these positions were held by him in Rivers State.
Amaechi, although not to the same extent as Dino Melaye, has a love for costly automobiles. Among his collection are a Mercedes Amg G63, Mercedes-Maybach Vision 6, a Lexus LX 570, a Land Rover Discovery, and a Mercedes S550. Dino Melaye’s collection includes a Mercedes-Maybach Vision 8.
Richest Politicians In Nigeria (Final Words)
Can you notice that most of the richest Nigerian politicians and senators listed above are into the oil business? They either own oil wells or have stakes in private oil companies. What did you think?
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