Top 10 Richest Politicians in Lagos, Nigeria 2024

It’s common news that politics is a very dangerous game. Yet so many people rush into it despite knowing the risks. Even students who graduated from the university with a degree in other fields aspire and even go into the political line.

This may be because of the high rewards that seem to be in the business. After all the popular saying goes ‘High Risks High Rewards!’. However, this line of reasoning is not wrong as some politicians are living the dream life of some business owners and office workers. Below are the ten richest politicians in Lagos with net worths reaching up to $800 million.

Richest Politicians	Net Worth
Bola Ahmed Tinubu	$8.4 billion
Ibrahim Badamasi Babangida	$5 billion
Ifeanyi Patrick Ubah	$1.7 billion
Olusegun Obasanjo	$1.6 billion
Rochas Okorocha	$1.4 billion
Atiku Abubakar	$1.4 billion
Orji Uzor Kalu	$1.1 billion
Ahmadu Adamu Mu’az	$895 million
Dino Melaye	$800 million
Rotimi Amaechi	$780 million

Richest Politicians in Lagos, Nigeria

1.  Bola Ahmed Tinubu (Net worth: $8.4 billion)

Current President of Nigeria Chief Bola Ahmed Tinubu is undisputedly the richest politician in Lagos and all of Nigeria with an astonishing net worth of about $8.4 billion, giving the second runner a whopping gap of about $3 billion.

After studying and graduating from the Chicago State University, Bola Ahmed Tinubu returned to Nigeria where he worked as an accountant before moving into politics. As the richest politician, Bola Ahmed Tinubu has a wide range of properties including houses in Lagos, Abuja, United Kingdom, and the States.

He has a fleet of cars among which a G-wagon and a Porsche can be found. One of the most expensive things the richest politician in Nigeria owns is a private jet pricing at about $600 million

2.  Ibrahim Badamasi Babangida (Net worth: $5 billion)

While not as successful as Chief Bola Ahmed Tinubu, Ibrahim Babaginda has also acquired a name for himself from politics. With a net worth of $5 billion, he is the second richest politician in all of Nigeria.

His wealth was obtained mainly from the stock market and politics. In terms of assets, Ibrahim Badamasi Babangida owns a luxurious mansion, a BMW, a Mercedes S-class, and a land cruiser. In total, these properties together are worth about $100 million. He also has a private jet just like Chief Bola Ahmed Tinubu worth about $600 million.

3.  Ifeanyi Patrick Ubah (Net worth: $1.7 billion)

Billionaire Businessman and Politician Ifeanyi Patrick Ubah has also made a name for himself being among the richest politicians in Nigeria. While he may not be as illustrious as the two richest politicians in Nigeria, it should be noted that he is 52 years old, being younger than them with about 20 years giving him ample time to close the gap.

One shocking piece of information is the fact that Senator Ifeanyi Ubah made his first million at the early age of 19 years. His initial source of wealth was in import and export. Which he did among the West African countries. So years later he expanded to other continents.

4.  Olusegun Obasanjo (Net worth: $1.6 billion)

Fourth richest politician in Nigeria Ex-president Olusegun Obasanjo has a net worth of about $1.6 billion. His wealth was obtained from politics as the president and even after his tenure as the president ended, he still receives some amount of money annually.

Another major source of his income is farming. Having one of the largest farms in Nigeria Olusegun Obasanjo realizes a sum of about ₦50 million daily. In terms of assets, Ex-president Olusegun Obasanjo owns a fleet of cars including a Lexus 570, a land cruiser, a Benz s23 Sedan, and shockingly a Rolls Royce.

5.  Rochas Okorocha (Net Worth: $1.4 billion)

Former governor of Imo state Rochas Okorocha stands amongst the richest politicians in Nigeria. His tenure lasted from 2011-2019 during which he did many notable things in the state including the opening of the Rochas Okorocha Foundation which provided free education for children who couldn’t go to school due to financial issues.

Among his assets include a Benz S600, LX 570, Klassen V220, Mercedes AMG63, Rolls Royce other cars, a billion naira house, and a private jet.

6.  Atiku Abubakar (Net worth: $1.4 billion)

Businessman and Politician Atiku Abubakar was the former vice president of Nigeria. He stayed in his seat for about 8 years. Before leaving and now he aims for the seat of President of the Federal Republic of Election.

However, during the 2023 election, he lost to the current President and richest politician in Nigeria Bola Ahmed Tinubu. Among his properties include a private jet worth $4 million, a Toyota Land Cruiser, a Range Rover, a Mercedes-Benz, and a Lexus.

7.  Orji Uzor Kalu (Net worth: $1.1 billion)

Orji Uzor is the former Governor of Abia State. A man well-versed in business and politics, his net worth is around $1.1 billion. He has a nice fleet of cars including a Porsche, a Benz S-class, and a Range Rover. His company SLOK Holding deals with exporting and importing, oil, investments, and entertainment.

8.  Ahmadu Adamu Mu’az (Net worth: $895 million)

Alhaji Ahmadu Adamu Mu’az was a Civil servant and he was also the former chairman of PDP. Although his net worth is not disclosed, it is estimated to be around $895 million. He also served in the Ministry of Health and Youth.

9.  Dino Melaye (Net worth: $800 million)

One of the richest politicians in Nigeria, Dino Melaye, has a net worth of about $800 million. Aside from politics, he also made quite a large amount of money from investments.

During an interview with BBC, he revealed that he got part of his wealth from investing in McDonald’s. Dino Melaye has a hobby of collecting exotic cars. Among his collection is a Lamborghini, a Porsche, a Chevrolet, a Bentley, and many more.

10. Rotimi Amaechi (Net worth: $780 million)

Lastly on the list of the top 10 Richest politicians in Nigeria is Rotimi Amaechi who was once the Governor of Rivers State.

His assets include an Armored Land Cruiser and Range Rover, a G-wagon, a Benz S-class, and a private jet. Ex-Governor Rotimi Amaechi also has a large number of houses spread over Nigeria, more than 10 of them especially in Rivers State. He has a lot of property in Lagos State too.

Conclusion

From this list, it can be seen that the chances of anyone not being tempted to go into politics are very low due to how much money these politicians have. However, not all politicians make it in the politics business and some of them even lose their lives in the process due to the high level of competition. Do you know anybody who should be added to this list? Let us know in the comment section.