By Joshua Tosin Ogunsakin 
Nigeria has several influential monarchs who play vital roles in their communities. These kings hold cultural significance and wield substantial economic power, often amassing significant fortunes from business ventures, real estate, and other investments.
The list of richest kings in Nigeria is based on a combination of factors, including estimated net worth, property holdings, and the economic influence, from multiple sources, including Intel Region, YouTube and Nairaland. These estimates and may fluctuate due to various financial factors.
Explore the top 10 richest kings in Nigeria and what they own.
1. Oba Obateru Akinruntan – $300 million
Full name: Fredrick Obateru Akinruntan
Date of birth: 1950
Kingdom: Olugbo of Ugbo Kingdom
Oba Fredrick Obateru Akinruntan is a Nigerian monarch and oil magnate who is the current traditional ruler of Ugbo Kingdom. He is also the founder of Obat Oil, one of Nigeria’s largest and leading privately held oil companies.
Oba Obateru Akinruntan’s net worth is alleged to be $300 million. He also owns luxury estates, high-end cars, and a multi-million-dollar palace.
2. Sultan Sa’adu Abubakar III – $100 million
Full name: Muhammadu Sa’ad Abubakar
Date of birth: 24 August 1956
Kingdom: Sultan of Sokoto
Sultan Muhammadu Sa’ad Abubakar, the 20th Sultan of Sokoto, is a prominent spiritual leader for Muslims across Nigeria. He assumed the position in November 2006. In the late 1980s, he led the Armoured Corps, guarding General Babangida. Sultan Sa’ad Abubakar III is also among Nigeria’s wealthiest traditional rulers, with an estimated net worth of $100 million.
3. Lamido Sanusi Lamido – $80 million
Full name: Muhammadu Sanusi II
Date of birth: 31 July 1961
Kingdom: Emir of Kano
Emir Lamido Sanusi Lamido, also known as Muhammadu Sanusi II or Khalifa Sanusi II, is the spiritual leader of the Tijanniyah Sufi order in Nigeria.
He became the Emir of Kano after succeeding his uncle. He succeeded to the throne on 8 June 2014, assuming the regnal name Muhammadu Sanusi II. He spent most of his reign advocating for cultural reform in Northern Nigeria. In 2020, he was deposed by Governor Abdullahi Umar Ganduje and was succeeded by his cousin Aminu Ado Bayero.
On 23 May 2024, Governor Abba Kabir Yusuf reinstated him.
Sanusi is a banker and economist who served as the Governor of the Central Bank of Nigeria from 2009 to 2014.
With an estimated net worth of $80 million, King Sanusi ranks among the wealthiest monarchs in Africa.
4. Oba Adeyeye Eniitan Ogunwusi – $75 million
Full name: Adeyeye Enitan Ogunwusi
Date of birth: 17 October 1974
Kingdom: Ooni of Ife
Oba Adeyeye Enitan Ogunwusi is the traditional ruler and king of the Yoruba people of Ile-Ife.
He ascended to the throne upon the death of Oba Okunade Sijuwade in August 2015. Oba Adeyeye Ogunwusi’s net worth is alleged to be $75 million. He invests in real estate and hospitality and owns hotels, resorts, and other businesses. His palace is also one of Nigeria’s most opulent royal residences.
5. Oba Ewuare II Ogidigan – $60 million
Full name: Eheneden Erediauwa
Date of birth: 20 October 1953
Kingdom: Oba of Benin
Oba Ewuare II was crowned the Oba of Benin on 20 October 2016, becoming the 40th holder of a title established for the Head of State (Emperor) of the Benin Empire between 1180 and 1300. Before his ascension, he worked with the United Nations from 1981 to 1982.
He also served as Nigeria’s Ambassador to Angola and Sweden, with additional accreditation to Norway, Denmark, and Finland, and later held the role of Ambassador to Italy. He has considerable assets in the form of historical land ownership and properties. Ewuare II has an alleged net worth of $60 million.
6. Obi Nnaemeka Alfred Ugochukwu Achebe – $50 million
Full name: Nnaemeka Alfred Achebe
Date of birth: 14 May 1941
Kingdom: Obi of Onitsha
Obi Nnaemeka Alfred was crowned as the 21st Obi of Onitsha in May 2002. He is one of the most respected traditional leaders in Eastern Nigeria. Currently, he serves as the Chancellor of Ahmadu Bello University and chairs the board of directors at Unilever Nigeria.
He served as a trustee for the National Traditional Rulers Council. From 1985 to 1987, he held director roles across Shell’s operations in the Netherlands, UK, Sierra Leone, Angola, Liberia, the Gambia, Ghana, and Nigeria. He is among Nigeria’s wealthiest monarchs, with an estimated net worth of $50 million.
7. Olu Ogiame Atuwatse III – $50 million
Full name: Utieyinoritsetsola Emiko
Date of birth: 2 April 1984
Kingdom: Olu of Warri
Olu Ogiame Atuwatse III is the traditional ruler of the Kingdom of Warri in Delta State, Nigeria, and a descendant of Olu Akengbuwa. He previously served as an officer at the Shell Nigeria Closed Pension Fund Administrator and worked with Sahara Energy from 2010 to 2012. Ogiame Atuwatse III has an estimated net worth of $50 million. He ranks among Africa’s top 10 wealthiest monarchs as of 2024.
8. Oba Rilwan Akiolu – $40 million
Full name: Rilwan Babatunde Osuolale Aremu Akiolu
Date of birth: 29 October 1943
Kingdom: Oba of Lagos
Oba Rilwan Akiolu became the 21st Oba of Lagos in May 2003. He graduated from the University of Lagos with a law degree. He served in the Nigerian Police Force for 32 years, reaching the rank of Assistant Inspector General before his coronation.
As of 2024, Oba Rilwan Akiolu’s net worth is $40 million. He owns significant land holdings in Lagos and has a well-connected network across business and politics.
9. Dein Keagborekuzi – $10 million
Full name: Benjamin Keagborekuzi Ikenchuku Gbenoba
Date of birth: 29 June 1977
Kingdom: Dein of Agbor
Dein Keagborekuzi is the Dein of the Agbor Kingdom, a traditional Nigerian state in Delta State. He ascended to the throne in 1980 as a child king following his father’s passing. Recognized for his remarkable coronation at a young age, Dein Keagborekuzi was featured in the 1980 edition of the Guinness Book of World Records as the world’s youngest crowned monarch.
His net worth is reportedly estimated at $10 million.
10. Oba Saheed Elegushi – $200k to 500k
Full name: Oba Saheed Ademola Elegushi, Kusenla III
Date of birth: 10 April 1976
Kingdom: Elegushi of the Ikate-Elegushi
Oba Elegushi hails from the Kusenla Ruling House of Ikateland in Lagos State. He succeeded his father, the late Oba Yekini Adeniyi Elegushi, who served as the 20th Oba Elegushi of Ikateland from 1991 until his passing in 2009. Oba Saheed Elegushi is known for real estate developments in Lagos, high-value land ownership, and various business investments. His lifestyle includes luxury cars such as a Rolls Royce, and he maintains a modern palace.
His net worth is alleged to range between N200 million and N400 million.