10 richest Nigerian politicians, their net worth and cars​​​​​​

1. Chief Bola Ahmed Tinubu – Net worth: $8.4 billion (₦3 trillion 46 billion)

Bola Ahmed Tinubu – Lagos State Governor from May 1999 – May 2007 is the official richest politician in Nigeria. Apart from being the National Leader of the All Progressives Congress party, Bola Tinubu is also allegedly the owner of Oando PLC, the largest oil-producing company in Nigeria with a revenue of about ₦449 million.

The Jagaban of Lagos is married to Oluremi Tinubu, a senator representing Lagos Central Senatorial District. One of his children – Seyi Tinubu, was appointed as the emergency financial consultant to all parastatals and local governments in Lagos State. Bola Tinubu also reveals his ambition of becoming Nigeria’s President in 2023. 

Largest scandals of Tinubu include the lawsuit where Tinubu’s consultant company Alpha Beta is accused of N100bn money laundering, tax evasion and fraud by its Managing Director/Chief Executive Officer (Sep 2018). Just at the beginning of 2020, Bola Tinubu was charged for involving in a white heroin trafficking network operated in the US between 1988 and 1993.

Bola Tinubu’s landed properties scattered across Nigeria are worth over ₦120 billion including the mansion worth ₦5 billion at Bourdillon drive, Ikoyi, Lagos. He owns a G-Wagon worth ₦600 million, 2 other Mercedes Benzes, a Range Rover, a Lexus LX 550 and other luxurious vehicles which are undisclosed. Let’s not forget his Bombardier Global Express XRS worth $60 million, it’s probably not his only jet.

2. Ibrahim Badamasi Babangida GCFR – Net worth: $5 billion

Ibrahim Badamasi Babangida (IBB) – born 17th August 1941 in Niger state, is a businessman and politician that served as Nigeria’s military president from August 1985 to August 1993. IBB is mostly famous for the annulment of the June 12, 1993, general election, during which MKO Abiola was the supposed winner

Ibrahim Babangida is allegedly appropriated a lot of money during his tenure as Major General, which he publicly denied. He also owns 65% of the London-based Fruitex International Limited in London, 24% of Nigeria’s second-largest telecom company, Globacom. Ibraham Babangida’s net worth now is ₦1 trillion 813 billion ($5 billion), making him the 2nd richest politician in Nigeria.

He has in his garage a BMW 760LI (₦35.2 million), 2015 Mercedes-Benz S Class (₦33.7 million), Toyota Land Cruiser (₦30.6 million), among other luxury cars. He also flies a Learjet 45 worth ₦594.7 million.

3. Ifeanyi Ubah – Net worth: $1.7 billion

Ifeanyi Ubah was born on 3rd September 1971. His wealthy status didn’t kick off with politics, he’s a hardcore businessman who already built a fortune for himself before choosing to serve Nigeria.

Growing up in the suburb of Abuja as the first of seven kids, he had to drop out of school to become a trader, but luck shone on him at 19, when he hit his first million. In 2014, he contested for the governorship of his state and lost. However, In 2019, he contested for a seat in the Nigerian Senate to represent Anambra South Senatorial District, which he won.

Apart from owning a football club called Ifeanyi Ubah FC, Ifeanyi Ubah is also the chairman, board of directors of a few notable companies in Nigeria. With the net worth of $1.7 billion, Ifeanyi Ubahand is one of the 10 richest men in Nnewi and Nigeria.

Ifeanyi Ubah is a real car collector who owns an extremely expensive Roll-Royce, a Land Rover, a Cadillac Escalade, a Toyota Land Cruiser and a Toyota Highlander. Ifeanyi Ubah also flies an Embraer Legacy 600 private jet, worth $31 million.

4. Olusegun Obasanjo GCFR – Net worth: $1.6 billion (₦580 billion 192 million)

Olusegun Obasanjo or OBJ is a proud indigene of Ogun State, born on 5th March 1938. The former Nigerian Army General also served twice as Nigeria’s Head of State: first as a military ruler from 1976 to 1979, and as a civilian president from 1999 to 2007.

Obasanjo got married four times. He married Esther Oluremi first, then Lynda, who was severely shot by armed men. His third wife was Mojisola who’s also late. His famous fourth wife – Stella Obasanjo served as Nigeria’s First Lady for a while and passed away while undergoing an Abdominoplasty surgery in 2005. He’s currently married to Mrs. Bola Obasanjo. Obasanjo has twenty children.

OBJ reportedly owns Otta Farms, one of the largest chicken poultries in West Africa. Although not of general knowledge, he is also involved in over 6.5% of the total major oil production, marketing, and distribution in Nigeria.

He has in his garage a Mercedes-Benz S63 Sedan, a Lexus 570, a Toyota Land Cruiser and a Toyota Highlander 2017. He also owns a Bombardier Challenger 300 jet and a Helicopter, both worth about $42 million.

5. Rochas Okorocha – Net worth: $1.4 billion (₦507 billion 668 million)

Rochas Okorocha served as the governor of Imo State, South-Eastern part of Nigeria for two terms. Just like Ifeanyi Ubah, he was also thriving in business before he joined politics. He is the founder of Rochas Foundation, a non-profit fund that builds colleges for poor children.

In June 2019, Okorocha and his family were accused of taking away valuable assets of Imo state including 67 government vehicles, which Okorocha described as “diversionary”

Rochas Okorocha was listed as the richest politicians in Nigeria for the year 2018 with the net worth of$1.4 billion. He owns an impressive garage that houses a Rolls-Royce Phantom, a Mercedes-Benz S600, a Mercedes-Benz Klassen V220, Mercedez Benz AMG63, a Lexus LX 570 among other luxury cars.

A few years ago, he was said to own three private jets by another governorship aspirant but according to Rochas, he owns just two, which he purchased before becoming a governor.

6. Atiku Abubakar GCON – Net worth: $1.4 billion (₦507 billion 668 million)

Atiku served as the Vice President of Nigeria from 1999 to 2007, with Olusegun Obasanjo as president. He was also comptroller general of the Nigerian Customs for 20 years and made a fortune from his position. 

With a net worth estimated at $1.4 million, Atiku Abubakar possesses many valuable assets. He owns an Embraer Phenom 100 private jet worth $4.1 million and a $2.95 million mansion near Potomac, Maryland, USA. Among many luxury cars he rides are a Range Rover, a Mercedes S550, a Lexus 570, a Toyota Land Cruiser and many more.

7. Orji Uzor Kalu – Net worth: $1.1 billion (₦398 billion 882 million)

The former governor of Abia State was born on April 21, 1960 and is one of the richest politicians in Nigeria. Before his election, he was the chairman of Cooperative and Commerce Bank Limited. He was also a member of the Peoples Democratic Party (PDP), Progressive Peoples Alliance (PPA) and the chairman of the PPA Board of Trustees.

Just like a few others on this list, Uzor Kalu runs a number of businesses. He’s the current chairman of SLOK Holding and two influential newspapers – the New Telegraph and the Daily Sun. He holds stakes in Enyimba FC of Aba, the very successful club in CAF competition. The club was the first Nigerian club to win the top honor of the flagship club competition on the African.

Although not specified, Uzor Kalu owns several mansions across high-ranking locations in Nigeria. A notable one is called Camp Neya, located in his hometown, in Abia State. He also owns a home in Maryland, USA.

In 2014, Uzor Kalu acquired what is believed to be his 5th private jet, the Gulfstream G650 model, is worth a whopping ₦11.5 billion. Another news about his 7th jet was published in 2018, codenamed N7-OUK. Orji Uzo Kalu’s garage is filled with exotic cars including a Bentley, a Range Rover, Mercedes Benz S550 and a Mercedes Benz C Class among others.

8. Ahmadu Adamu Mu’Azu – Net worth: $895 million (₦324 billion 545 million)

Ahmadu Adamu Mu’Azuused to be the governor of Bauchi State as well as the former chairman of the Peoples Democratic Party (PDP). He also served as property manager of the Bauchi State Investment and Property Development Company. His net worth is estimated at ₦324 billion 545 million, putting him in the list of  top ten richest politicians in Nigeria.

In April 2019, the Economic and Financial Crimes Commission (EFCC) busted a mansion in Ikoyi as part of Buhari’s anti-corruption campaign and discovered over $50 million of cash hidden in fire-resistant cabinets behind false walls. The company who built the house claimedAhmadu Adamu Mu’Azu is the owner,but the Northern millionaire rejected all the accusations.

Mu’Azu has in his garage a Lexus LX570, a Range Rover Discovery and Toyota Sequoia among other luxury rides.

9. Dino Melaye – Net worth: $800 million (₦290 billion 96 million)

In the history of Nigeria, Dino has been the most entertaining politician ever! He was born on 1st of January, 1974 and hails from Kogi State. He was a Senator and a member of the 8th National Assembly, representing Kogi West Senatorial district before being sacked by the gubernatorial election tribunal of the state in late August 2019.

Dino is known for various scandals and political controversies. He once threated to beat up Senator Oluremi Tinubu and “impregnate” her on the floor of the Senate. Dino had two marriages which both ended after his wives accused him of severe domestic violence.

Dino Melaye is a real car freak and a very flaunting type so it’s easy to get a glimpse of his luxurious lifestyle. Among his giant car collection are one of the most expensive cars in the world – Bugatti Veyron (₦616 million), 3 Roll-Royces (₦318 million combined), a Lamborghini Huracan (₦86.7 million), a Bentley Continental (₦71 million) and many other extravagant supercars.

10. Rotimi Amaechi – Net worth: $780 million (₦282 billion 843 million)

Rotimi Chibuike Amaechi served as governor of Rivers State from 2007 to 2015, and he’s currently the Minister of Transportation in Nigeria. He was born on 27th May, 1965. 

Rotimi Amaechi has for his own a fleet of luxury cars including a rare Mercedes-Maybach Vision 6, a Mercedes Amg G63, Mercedes S550, a Land Rover Discovery, a Lexus LX 570 among others. Although he claims to not own a private jetbut there’s a high chance he owns a Brazillian Embraer Legacy worth about N9 billion.