It no longer news that there are several wealthy traditional rulers (Kings) in Nigeria today and with the constant display of their wealth on social media it is now difficult to know the richest among them. So many people out there are wondering who the richest king in Nigeria 2017 is, this article is created to address that fashion . Firstly, we will reveal who the The Richest King in Nigeria 2017 and also go ahead to enlightened you about the top 5 richest kings in Nigeria today accompanied with their profile and things you need to know about them.
In time immemorial, Nigerian has been headed by traditional rulers who are in charge of their tertiary with their boundaries clearly indicated. When civilization finally came, there was a revolution of how the country is going to be governed and they later adopted a system of government whereby the president of the country oversees all affairs of the country while the governors are in charge at the state level.
The modern system of government in Nigeria today also allow traditional rulers to rule over the subject within a restricted length. Nigerian traditional rulers often derive their titles from the rulers of independent states or communities that existed before the formation of modern Nigeria. However, they lack formal political power, they continue to command respect from their people and have considerable influence.
When we about titles, there are currently 521 different languages native to Nigeria, there is an accountable number of titles for traditional rulers. Looking at the northern Muslim states, “Emir” is commonly used in the English language, but names in the local languages include Sarki, Shehu, Mai, Lamido, etc. When we take you to Edo State, Oba is the title of the Benin Kingdom paramount ruler while “Enogie” (enigie for plural) is ascribed to his dukes within the Benin Kingdom. Then Okao (ikao for plural) and “Odionwere” are ascribed to his governors and senior elders respectively.
The Richest King in Nigeria 2017
There have been heated deliberation as regards to the richest king/kings in Nigeria today by some curious Nigerians who are interested in knowing the wealthiest Nigeria traditional ruler at the moment . When this argument comes up their judgements are clouded by sentiment which is not a good one and at the end they fail to arrived at any reasonable fact. The good news is that Forbes recently released the list of richest king in Nigeria , and according to the popular magazine , Olugbo of Ugbo Kingdom, HRM Frederick Obateru Akinruntan is the current richest kings in the country with an estimated net worth of $300 million. Oba Akinruntan beat the likes of the Alaafin of Oyo, the Sultan of Sokoto, the Ooni of Ife and the likes to emerge the wealthiest Nigerian monarch.
Meanwhile, the likes of the Ooni of Ife and the Alaafin were also made mention of as one of the wealthiest monarchs in Africa, but Oba Akinruntan was placed high above others on the list with an estimated net worth of $300 million while Oba Sijuade secured his spot with an estimated net worth is $75 million. Needful to say, The Ooni of Ife has investments in construction, landed properties and oil while Oba Akinruntan is mostly into oil. He is also the owner of the largest petroleum depot in Africa. As if that investment is not enough, he also behind Obat Oil Company which he founded in 1981 alongside a gas station which has grown to over 60 gas stations across the nation.
Oba Okunade Sijuwade (Ooni of Ife, Osun state) mainly invested in construction, landed properties and oil, Frederick Obateru Akinruntan on the other hand invested mostly oil and that is where his money comes from. If you are still wondering why Oba Akinruntan is crowned the wealthiest Nigerian monarch then i will take more minutes to introduce you to this Billionaire king. He owns the largest petroleum depot in Africa. He founded his Obat Oil Company in 1981 alongside many gas station amounting to 60 last time i checked.
Aside Oil business, Billionaire Oba Akinruntan is also into real estate, with Hotels in Abuja, buildings both home and abroad. He made history in 2012 when he became the first black person to acquire the 2014 model of Bentley which was accustomed only for Queen Elizabeth of England.
Oba Akinruntan : Net Worth 2017
Oba Akinruntan who is crowned the richest monarch 2017 have an estimated net worth of $300 million according to Forbes.
Now that we have successfully unveiled the richest Richest King in Nigeria 2017, we are also going to list out the top 5 most wealthy kings in Nigeria today .
1. Oba Obateru Akinruntan
There is no doubt , Obateru Akinruntan is the richest Nigerian monarch 2017 . He is the Olugbo of Ugbo Land, a town located in Ondo State. His heavy income is realized from his crude oil business. He founded his Obat Oil Company in the year 1981 alongside a gas station which now has over 60 branches all over the country.
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2. Oba Adeyeye Ogunwusi Eniitan
Oba Adeyeye Ogunwusi Eniitan is the newly unveiled monarch of Ife Kingdom. He is popular addressed as the Ooni of Ife, is a very successful business man before he became the Ooni of Ife. The king who was born on the 17th of October 1974 is an accountant and a real estate developer who became more prominent after he was crowned the king of Ife. He is a successor of Oba Okunade Sijuwade who was the former kings before he passed.
3. Sultan of Sokoto
The new Sultan of Sokoto is “Saad Abubakar” and he is also considered as one of the most influential kings in Nigeria. Saad Abubakar is head all the Muslims people in Nigeria which means that his titled makes him a religious leader as well. When it comes to religious settings , his leadership and influence cut across boundaries of Sokoto as he is also well-respected in Africa at large.
4. Emir of Kano
This is another popular traditional title in Nigeria which is more relevant in the Northern Nigeria. The new Emir of Kano is the formerly the governor of Central Bank of Nigeria “Sanusi Lamido Sanusi” . His crown has earned him a new name which is “Mallam Muhammad Sanusi II” and he is highly respected by the people of Kano state and beyond. Any body that holds this title automatically becomes the head of the whole Kano Emirate. Mallam Sanusi is the successor of late Alhaji Dr. Ado Bayero who served for 51 years before passing away.
5. Alaafin Oyo
Alaafin Oyo is another wealthy Nigerian monarch occupying the 5th spot on our list of richest Nigerian kings. Lamidi Olayiwole III took over from late Alaafin Gbadegeshin Ladigbolu II. He was birthed on the of October 1938 , he is also one of the most powerful and influential kings in Nigeria today . He owns many house and his fleet of cars is eye-catchy.