Who are the richest politicians in Nigeria in 2023? Here is a list of the highest-paid and wealthiest Nigerian politicians.
Politics is one of the most lucrative “businesses” in Africa as we speak, this is why you will see several people risking all their life earnings into it because they will certainly get back their wasted money in multiples.
Nigeria as one of the African populated countries can boast of billionaires and millionaires who acquire their wealth from politics. Is just a few who were affluent before venturing into politics.
When one is talking about wealthy people in Nigeria, the first category of persons that comes to mind are the politicians, and the reason for this is not far-fetched.
Some Nigerian politicians are richer to the extent of owning two private jets, luxurious automobiles, and magnificent mansions.
In this article, with credit to Naijauto, and Carmart.ng, you will learn more about the top 10 wealthiest politicians in Nigeria in 2022; their names, ages, date of birth, state, net worth, cars, mansions, and more.
The richest politicians in Nigeria & their car collections
Below is a complete list of the wealthiest politicians in Nigeria, their net worth, and brief biography facts about them.
1. Chief Bola Ahmed Tinubu – Net worth: $8.4 billion (₦3 trillion 46 billion)
- Net Worth: $8.4 billion (₦3 trillion 46 billion)
- Age: 70 years (as of 2023)
- Birthday: 29 March 1952
- State: Lagos State
- Wife: Oluremi Tinubu
Chief Bola Ahmed Adekunle Tinubu is a Nigerian politician who was elected senator for the Lagos West Constituency in Lagos State, Nigeria in 1993. The election was just prior to a military take-over in December 1993. He has also revealed his interest in contesting for Nigeria’s presidential election come 2023.
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.
The 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 operating 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.
Bola Ahmed Tinubu Cars include Mercedes Benz cars, Range Rover, Lexus LX 550, G-Wagon, and other undisclosed luxurious cars and private jets.
What is Bola Ahmed Tinubu’s net worth? Bola Ahmed Tinubu – Lagos State Governor from May 1999 – May 2007 is the official richest politician in Nigeria with an estimated net worth of $8.4 billion. His wealth has been compared to world soccer champion, Cristiano Ronaldo several times.
2. Ibrahim Badamasi Babangida GCFR – Net worth: $5 billion (₦1 trillion 813 billion)
- Net Worth: $5 billion
- Age: 81 years old (as of 2023)
- Birthday: August 17, 1941
- State of Origin: Niger State
Ibrahim Badamasi Babangida (IBB) – born on 17th August 1941 is one of the business moguls and politicians in Nigeria and definitely the second richest on this list. He was the former military president of Nigeria from August 1985 to August 1993. He is mostly called by the initials of his name, IBB.
He was also famous for the annulment of the June 12 election that MKO Abiola win in 1991. IBB is said to be worth billions of dollars. IBB is estimated to have a net worth of about $5 billion dollars.
He is also popular for having annulled one of the freest and fairest elections in Nigeria – the June 12/1991 election that favored MKO Abiola.
Ibrahim Babangida 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, and 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.
Ibrahim Babangida car list: He has in his garage a BMW 760LI (₦35.2 million), a 2015 Mercedes-Benz S Class (₦33.7 million, The latest price Mercedes-Benz S Class 2021 starts ₦218, source: Mercedes-Benz S Class 2021 Cintamobil ), 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 (₦616 billion 454 million)
- Net Worth: $17 billion
- Age: 51 years old (as of 2023)
- Birthday: September 3, 1971
- State of Origin: Anambra State
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.
This man brought money into politics, he did not just start getting rich when he joined. Ifeanyi Ubah was said to have made his first million when he was just 19. Ifeanyi was born in the eastern part of Nigeria – Anambra state, he is said to have made his money from export businesses such as spare parts and the like. He is also into oil and gas, real estate, transport, and even sport. As a matter of fact, he has a football club named after him – such a versatile man. His net worth is around $1.7 billion.
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, and board of directors of a few notable companies in Nigeria. With a 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)
- Net Worth: $1.6 billion
- Age: 84 years old (as of 2023)
- Birthday: March 5, 1938
- State of Origin: Ogun State
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.
Chief Olusegun Matthew Okikiola Aremu Obasanjo, GCFR, is a Nigerian military and political leader who served as military head of state from 1976 to 1979 and later as President of Nigeria from 1999 to 2007. Ideologically a Nigerian nationalist, he was a member of the People’s Democratic Party.
Olusegun Obasanjo 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.
What is Olusegun Obasanjo’s net worth? We were unable to determine Olusegun Obasanjo’s net worth before politics, but we do know he had a number of business empires before his venture. Today, he has a current net worth of $1.6 billion.
Olusegun Obasanjo’s cars and private jet: Helicopter Bombardier Challenger 300 jet, Lexus 570, Toyota Land Cruiser, Mercedes-Benz S63 Sedan, Toyota Highlander 2017, 2019 Rolls-Royce Phantom
5. Rochas Okorocha – Net worth: $1.4 billion (₦507 billion 668 million)
- Net Worth: $1.4 billion
- Age: 60 years old
- Birthday: September 22, 1962
- State of Origin: Imo State
Rochas Okorocha is one of the richest politicians from Imo State, South East, Nigeria and he is listed as the Richest Politician in Nigeria for the year 2022.
He was a rich businessman before he joined politics. Rochas contested and won in 2011 and 2015 respectively in the Imo State, South-Eastern part of Nigeria, Governorship elections as Governor.
He is the founding father of the Rochas Foundation, an organization that has special colleges for the less privileged within society. Rochas is reported to be worth a whopping 1.4 billion dollars.
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’s cars include Rolls-Royce Phantom, Mercedes-Benz S600, Mercedes-Benz Klassen V220, Mercedez Benz AMG63, and Lexus LX 570.
He was rumored to have three private jets. 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. One of his private jets, LearJet 45, is worth N700 million.
6. Atiku Abubakar GCON – Net worth: $1.4 billion (₦507 billion 668 million)
- Net Worth: $1.4 billion
- Age: 76 years old (as of 2023)
- Birthday: November 25, 1946
- State of Origin: Adamawa State
Atiku is one of the richest people in Nigeria. And among the politicians, he is one of the wealthiest. Atiku is popular for his vice-presidency position under President Olusegun Obasanjo who served two terms in office (1999 – 2007).
He was also a presidential candidate in the February 2019 election, which he lost to the re-elected President Muhammadu Buhari. He was also a comptroller general of the Nigerian Customs for 20 years and made a fortune from his position.
While working for Nigerian Customs, he founded the logistics company Nigeria Container Service (INTELS). The company has been accused of laundering over $100 million into the United States between 2000 and 2008. Besides INTELS, Atiku Abubakar owns a variety of businesses in Nigeria ranging from beverage, media to education, and others.
Atiku hails from Adamawa State and was born on 25th November 1946 to a Fulani farmer father and a trader mother. His father was against western education but he got to study because of the mandatory schooling law that was in place then. His father died when he was 11 and his mum, much later, when he was 38.
He was the only child, and after marrying his second wife, he said he needed to expand his family as he didn’t want his children to suffer the same fate of loneliness he did as a child.
Atiku has four wives and 28 children.
Atiku Abubakar cars: 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)
- Net Worth: $1.1 billion
- Age: 62 years old (as of 2023)
- Birthday: April 21, 1960
- State of Origin: Abia State
Orji Kalu is the former governor of Abia State who 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 served as the chairman of the Borno Water Board.
He was also a member of the Peoples Democratic Party (PDP), Progressive Peoples Alliance (PPA), and the chairman of the PPA Board of Trustees. Kalu contested as a presidential candidate of the PDP in 2007. He, however, later decamped from the PDP to join the APC.
Kalu got his money from businesses and politics. The former governor and businessman are said to have an estimated net worth of $1.1 billion dollars.
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, a very successful club in the CAF competition. The club was the first Nigerian club to win the top honor of the flagship club competition in Africa.
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, 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, which 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, a Mercedes Benz S550, and a Mercedes Benz C Class among others.
8. Ahmadu Adamu Mu’Azu – Net worth: $895 million (₦324 billion 545 million)
- Net Worth: $895 million
- Age: 65 years old (as of 2023)
- State of Origin: Bauchi State
Ahmadu Adamu Mu’Azu used 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 on the list of the 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 that built the house claimed Ahmadu 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)
- Net Worth: $800 million
- Age: 49 years old (as of 2023)
- Birthday: January 1, 1974
- State of Origin: Kogi State
He was born on the 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. He is recognised in the history of Nigeria, as the most entertaining politician ever!
He is one of the richest politicians in Nigeria and is not shy to show it off. He uploads several videos and images of himself and his exotic cars online – he is a car freak.
Dino is known for various scandals and political controversies. He once threatened 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 is currently serving another term as a senator in the district of Kogi west. He is also popular for his outspokenness – also his unsupportive attitude towards president Buhari’s regime. His net worth is valued at $800 million.
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 is 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 such as the McLaren MP14 you can see in this post or the Mercedes G55 Mansory.
10. Rotimi Amaechi – Net worth: $780 million (₦282 billion 843 million)
- Net Worth: $780 million
- Age: 57 years old (as of 2023)
- Birthday: May 17, 1965
- State of Origin: Rivers State
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 Chibuke Amaechi was a former governor of Rivers State and a vibrant member of the APC political party. He has a very good relationship with the Buhari administration, and as a matter of fact, he is currently serving as the minister of transportation.
Rotimi Amaechi was the director-general of the Buhari re-election campaign in early 2019. However, he was in the eye of a storm after a series of audio recordings leaked, in which he harshly criticized Buhari for not meeting Nigerians’ expectations and described Nigeria as a never-going-to-change hopeless nation.
Rotimi Amaechi has his own fleet of luxury cars including a rare Mercedes-Maybach Vision 6, a Mercedes Amg G63, a Mercedes S550, a Land Rover Discovery, and a Lexus LX 570 among others. Although he claims to not own a private jet there’s a high chance he owns a Brazillian Embraer Legacy worth about N9 billion.
11. Ben Murray Bruce
Ben Bruce is a businessman as well as a vibrant politician. Ben is the founder of the popular Silverbird Group of Nigeria. He is also currently serving as a senator in Bayelsa state. Mr. Ben is a social media facilitator; he is usually referred to as the “Twitter senator”. He is also an active organizer of the annual beauty contest event called the MBGN (Most Beautiful Girl in Nigeria).
Top 10 richest politicians in Nigeria 2023 with net worths in USD and Naira
|Rank||Name||Highest position||Net worth In USD And Naira|
|#1||Chief Bola Ahmed Tinubu||Former Governor of Lagos State||$8.4 billion (₦3 trillion 46 billion)|
|#2||Ibrahim Badamasi Babangida GCFR||Former Military President of Nigeria||$5 billion (₦1 trillion 813 billion)|
|#3||Ifeanyi Ubah||Anambra South Senator||$1.7 billion (₦616 billion 454 million)|
|#4||Olusegun Obasanjo GCFR||Former Nigerian Army GeneralFormer Nigeria’s Head of State||$1.6 billion (₦580 billion 192 million)|
|#5||Rochas Okorocha||Former Governor of Imo State||$1.4 billion (₦507 billion 668 million)|
|#6||Atiku Abubakar GCON||Former Vice President of Nigeria||$1.4 billion (₦507 billion 668 million)|
|#7||Orji Uzor Kalu||Former Governor of Abia State||$1.1 billion (₦398 billion 882 million)|
|#8||Ahmadu Adamu Mu’Azu||Former PDP ChairmanFormer Governor of Bauchi State||$895 million (₦324 billion 545 million)|
|#9||Dino Melaye||Former Senator of Kogi West||$800 million (₦290 billion 96 million)|
|#10||Rotimi Amaechi||Former governor of RiversFormer Minister of Transportation||$780 million (₦282 billion 843 million)|