Top 20 Richest Politicians in Nigeria [2024]

There have been numerous arguments and contentions that politics is the most profitable venture in Nigeria. Although there are many intricacies involved, an ariel view of Nigeria’s political class proves the contention to be true. Unlike the vast majority of the Nigerian population, the majority of these people control a large amount of wealth and own most of the properties in exclusive high-end neighborhoods.

Although it is generally believed that the majority of these politicians get their wealth by stealing from Public funds, it is imperative to note that there are a few who have acquired theirs before their interest in Politics.  To properly evaluate this contention, we have compiled a list of the top 20 richest politicians In Nigeria,  we shall also be looking into how they came about their wealth and corruption accusations and charges.

It is imperative to note that the essence of this article is purely for informational purposes and to scrutinize or mar the image of any politicians. So without any further ado, here are the top 20 richest politicians in the country.

1. Bola Ahmed Tinubu – $8.4 billion

Bola Ahmed Tinubu is the current president of Nigeria and also was a former governor of Lagos State from 1999 to 2007. He is also an accomplished, dedicated, and ambitious person,  with an interesting career both in politics and business alike.

Tinubu’s political career began in the late 1990s when he played a pivotal role in the restoration of democracy in Nigeria. As the former governor of Lagos State, his transformative policies and commitment to development earned him widespread recognition. During his tenure, he spearheaded remarkable infrastructural development, implementing policies that transformed Lagos into a thriving economic hub.

Known for his strategic dissertation on politics, Tinubu founded and led the All Progressives Congress (APC), a formidable political party that emerged as a force to be reckoned with, sweeping into power at the national level. His ability to navigate the intricacies of Nigerian politics and build alliances has solidified his position as a prominent figure in the country’s governance.

Also as a seasoned entrepreneur, he has invested in various sectors, including media, real estate, telecommunications, and oil and gas demonstrating his keen business acumen. Through his ventures, he has contributed to economic growth and job creation, cementing his reputation as a shrewd businessman, and has also amassed great wealth.

Bola Ahmed Tinubu is considered the richest politician in Nigeria with an estimated net worth of 8.4 billion dollars, if he had not into politics he would have been the second or third richest man in Nigeria, although, many would argue he would not be as rich as he is if he was not into politics as there are many controversies surrounding his wealth and real estates properties which many believe he got by using his influence on the state to get them.

2. Ibrahim Badamasi Babangida – $5 billion

Babangida who is fondly called by his initials IBB is a former General in the Nigerian army as well as former head of state who remains one of the richest politicians in Nigeria, with an estimated net worth of $5 Billion. He held the reins of the Federal Republic of Nigeria with a firm hand from August 27, 1985, until his retirement in August 1993.

Before his ascension to power, Babangida served as the Chief of Army Staff from 1984 to 1985, and it was during this time that he orchestrated a palace coup d’état, toppling Muhammadu Buhari from his position. His desire for influence and power, are parts of the factors that shaped the course of Nigeria’s political landscape.

Meanwhile, as a military dictator, he implemented economic reforms that opened up the country’s markets and attracted foreign investment, fostering a period of growth. However, his regime was marred by allegations of corruption and human rights abuses, tarnishing his reputation. After stepping down as head of state, Babangida remained influential in Nigerian politics, wielding significant power behind the scenes.

Additionally, in the business realm, he leveraged his connections and amassed considerable wealth, establishing successful ventures in various sectors. Babangida is estimated by many platforms to be worth considerably 5 billion dollars, although, according to a report Forbes estimated his net worth to be around 12 billion dollars in 2011/12.

Like many politicians on this List, Babaginda has been accused of using his political influence for personal gain. While Babangida’s career showcased ambition and strategic vision, the shadows of controversy ultimately cast a complex light on his legacy, leaving a lasting impact on Nigeria’s political and business landscape.

3. Andy Uba – 2.1 billion

Also on the list of the richest politicians in Nigeria, is Andy Uba, An APC Chieftain and former senator who served the Anambra South Senatorial District from 2011 to 2019. Before having a fulfilling and prominent political career Andy Uba had a multifaceted career spanning the corporate world and business.

Andy first gained national attention when he was appointed as a senior special assistant to President Olusegun Obasanjo, a role that allowed him to showcase his leadership abilities. In 2007, he ran for the position of governor in Anambra State and emerged victorious, serving a tumultuous term marked by legal battles and controversies.

While Uba’s business prowess is equally noteworthy, as he has established successful enterprises across different sectors, displaying his entrepreneurial spirit. However, his political journey has not been without controversy, as he has faced allegations of political defection and questionable financial dealings.

With an estimated net worth of $2.1 billion which is a credit of most of his business dealings, being grounded in the act of business from a young age he decided to leverage it which makes him a successful politician but most importantly an admirable businessman to many. Meanwhile, currently, Andy Uba is not holding any political office and belongs to the All Progressive Congress party which is the current ruling party.

4. Abubakar Bukola Saraki – $2 billion

Former Governor of Kwara State and Senator of the Federal Republic of Nigeria, Bukola Saraki Joins the list of the richest politician, with his estimated net worth of  $2 Billion. The United Kingdom-born senator has grown over the years becoming a prominent Nigerian politician, with an indelible mark on the country’s political landscape.

Meanwhile, Saraki is known for his eloquence and strategic maneuvering, and he has held key positions and wielded significant influence throughout his career as a businessman and politician. While serving as the Governor of Kwara State from 2003 to 2011, he implemented various developmental projects and policies that improved the lives of the people in his state.

Later, he became a member of the Nigerian Senate, representing Kwara Central, and eventually rose to the position of Senate President from 2015 to 2019 where he wielded substantial influence and played a key role in legislative affairs. Saraki’s tenure as Senate President was marked by his commitment to advancing national interests, fostering transparency, and promoting good governance.

Before his still-promising political Career,  Saraki served in the defunct Société Générale Bank (Nig) Ltd from 1990 to 2000 where he rose to the position of Director of the bank. Beyond politics, he has also been involved in business ventures and philanthropy, leveraging his resources to make a positive impact in various sectors.

Saraki’s dedication to public service and his ability to navigate the intricacies of Nigerian politics has solidified his position as a notable figure in the country’s political sphere and he currently belongs to the Peoples Democratic Party (PDP).  According to notable sources, most of Saraki’s wealth can be traced to his business dealings but the possibility of leveraging on his position while in office can not also be excluded.

5. David Mark – $2 billion

David Mark was born on 8th April 1948, he is from Benue State Nigeria which is called the food basket state of the nation. Meanwhile, as a well-known Nigerian politician, Mark has had a remarkable career that has made a lasting impact on the political landscape of Nigeria. With his composed and thoughtful comportment, he has held various important positions throughout his journey.

He began his career in the military before transitioning to civilian politics, where he took on roles such as Minister of Communications and Minister of Defense, showcasing his versatility. However, it was during his time as the President of the Nigerian Senate that Mark truly shone.

Additionally, his ability to navigate the complexities of the legislature earned him respect and admiration from his fellow lawmakers, and as Senate President, he worked tirelessly to foster collaboration among his colleagues and prioritize the interests of the Nigerian people serving from 2007-2015.

Known for his inclusive approach and commitment to upholding the rule of law, Mark dedicated himself to advancing national unity and the overall welfare of his country. Although his career faced its fair share of challenges and controversies like every other or most politicians in Nigeria, Mark’s unwavering dedication to public service and his genuine desire to improve Nigeria have earned him the respect and influence he holds in Nigerian politics.

With an estimated net worth of about $2 million, Mark takes the fifth spot among the richest politicians in Nigeria. It is generally believed that what contributed to his vast wealth was not only almost a decade he used being the Senate President but the positions also the position he held as Communications Minister before the Nigerian Telecommunications Limited (NITEL) and Nigerian Postal Service (NIPOST) became defunct.

6. Atiku Abubakar – $1.8 billion

Atiku Abubakar, with an estimated net worth of $1.8 Billion is also one of the richest politicians in Nigeria. He served as the Vice President of Nigeria from 1999 to 2007 during the presidency of Olusegun Obasanjo. Atiku spent twenty years in the Nigeria Customs Service, rising to the post of Deputy Director, the second-highest position in the service at the time. He left the military in April 1989 and went into full-time business and politics.

In 1991, he ran for governor of the old Gongola State, now known as Adamawa and Taraba States, and in 1993, he ran for President but lost. Additionally, He has unsuccessfully contested for the office of the president of Nigeria five (5) times when he ran for office in (2003, 2007, 2015, 2019, and 2023) but lost each time.

Meanwhile, in terms of wealth, Atiku Abubakar is widely regarded as one of Nigeria’s wealthiest individuals. While exact figures are difficult to ascertain, estimates of his net worth range from several hundred million to over a billion dollars. His wealth is believed to have been accumulated through various income sources, including investments in real estate, logistics, agriculture, and education within the nation and internationally.

Additionally, Atiku’s accumulation of his wealth has not been without controversy and criticism and he has faced allegations of corruption and illicit financial practices, with critics questioning the sources of his wealth and accusing him of using political connections for personal gain. These controversies have sparked debates and investigations, casting a shadow over his financial activities and contributing to the mixed perceptions surrounding his wealth accumulation. According to various sources, his net worth is estimated to be $1.8 billion.

7. Ifeanyi Ubah – $1.7 billion

Well as a Nigerian entrepreneur and politician, Ifeanyi Ubah has an estimated net worth of $1.7 billion which not only makes him one of the richest businessmen man in Nigeria but also one of the richest politicians in Nigeria who have been able to navigate the scope of business with politics and have tasted and experienced success in both.

Ifeanyi Ubah is an impressive figure with his vibrant and innovative spirit, and he ventured into various business sectors, building thriving enterprises that have contributed to job creation and the growth of his hometown as well as the overall economic growth of the country. Having come from a family of nine with his parent with his parents’ inability to cater to him and his siblings he dropped out of school at a young age to learn trade.

Meanwhile, alongside his business endeavors, Ubah has also delved into the world of politics, aiming to bring positive change to Nigeria. He ran for the Senate representing Anambra South and emerged victorious, earning a seat in the Nigerian Senate. He ran for the position of Senator representing Anambra South and emerged victorious, earning a seat in the Nigerian Senate.

Throughout his political career, he has been a vocal advocate for causes like youth empowerment, education, and infrastructure development. Ubah’s grassroots approach and dedication to bridging the gap between the government and the people have resonated with many even though as politicians you are sometimes bound to have controversies, one of which almost cost him his life in 2022 when he survived an assassination attempt.

8. Olusegun Obasanjo – $1.6 billion

Olusegun Obasanjo, a prominent Nigerian statesman and the first democratic President of Nigeria in the 4th Republic. He played a crucial role in the formation of the People’s Democratic Party (PDP) in 1998, a party that emerged as a dominant force in Nigerian politics for several years.

Meanwhile, as a member of the PDP, Obasanjo occupied key positions, including being elected as the President of Nigeria where he served two terms as the President, from 1999 to 2007, making significant strides in areas such as economic reform, anti-corruption measures, and infrastructural development.

Obasanjo’s background as a former military head of state gave him credibility and influence. His leadership style and ability to build strategic alliances have gained him support from various political stakeholders. Furthermore, his commitment to democratic governance and vision for a prosperous Nigeria earned him popular support.

Although Olusegun Obasanjo’s net worth may not be publicly declared, many publishers have estimated his net worth to be about $1.6 billion which makes him one of the richest politicians in Nigeria. His income sources include his pension as a retired military and political officer, book royalties, and business ventures.

Reports have it that he has investments in sectors such as agriculture, telecommunications, and energy. He is the owner of Otta Farms, which is one of the largest chicken poultries in West Africa and is also involved in the production and distribution of oil in Nigeria.

However, his wealth accumulation has not been without controversies and criticisms. Many have raised concerns about the transparency and legitimacy of certain business deals and acquisitions attributed to him.

9. Rochas Okorocha – $1.4 billion

Rochas Okorocha is a former Governor of Imo State and also the Senator representing the Imo West Senatorial district at the 9th Nigerian Senate. With an estimated net worth of $1.4 billion, Rochas Okorocha is one of the richest politicians in Nigeria.

Following the restoration of democracy in 1999, he joined politics and amassed a sizable following, prompting him to compete for Governor in the 2007 general election under the Peoples Democratic Party (PDP). In the run-up to the 2011 general election, Rochas joined the All Progressive Grand Alliance (APGA), before switching to the APC. Rochas was elected governor of the state in 2011 and served two terms.

The majority of Okorocha’s wealth comes from his political career and business interests, which include investments in real estate, agriculture, and oil and gas. He also has a stake in several Nigerian banks. However, Okorocha’s wealth accumulation has not been without controversies and criticisms. There have been allegations of corruption and misuse of public funds during his tenure as Governor.

Additionally, some critics argue that his vast wealth is disproportionate to his known sources of income. These controversies have raised questions about the transparency and accountability of his financial dealings. Rochas has consistently denied these allegations, asserting that his wealth is a result of his hard work and successful business ventures. Nevertheless, these criticisms have led to ongoing investigations and legal battles.

10. Orji Uzor Kalu – $1.1 billion

Orji Uzor Kalu is a businessman and politician who served as the Governor of Abia State and the flag bearer of the Peoples Democratic Party from 1999 to 2007. He is the chairman and CEO of the SLOK Holdings group, which has interests in manufacturing, oil and gas, banking, and media.

Kalu attended the University of Maiduguri, where he studied business administration, then proceeded to Harvard Business School. He made his entry into politics in 1992 when he was elected to the House of Representatives. He served as the Chairman of the House Committee on Customs and Excise. In 1999, he was elected Governor of Abia State where he served two terms.

Orji Uzor Kalu’s success in politics can be attributed to a combination of factors. His charismatic personality and oratory skills have helped him garner support from the electorate. Additionally, his background as a successful businessman has provided him with the financial resources to fund his political campaigns and initiatives. Speaking of wealth, estimates suggest that Kalu’s net worth is in the hundreds of millions of dollars.

According to Forbes, he borrowed $35 from his mother to start the business, and later, he went into furniture manufacturing and transportation. By the time he was 20, he had become a millionaire. He was listed as 49th on Africa’s 50 Richest Net Worth in 2015 by Forbes Magazine.

Without a doubt, Kalu is one of the most successful and richest politicians in Nigeria. Speaking of wealth, estimates suggest that Orji Uzor’s net worth is $1.1 billion. While his success as a businessman has afforded him considerable financial resources, criticisms and controversies surrounding his wealth accumulation continue to cast a shadow on his overall legacy.

11. Daisy Danjuma – $900 million

Daisy Danjuma is a Nigerian politician and businesswoman who has held positions in various public and private organizations and is on the list of the richest politicians in Nigeria. She is the richest female politician in Nigeria, with an estimated net worth of $900 Million.

Daisy began her career as an Executive Assistant for Nigerian Acceptances Limited (NAL) from 1977 to 1978. She was the Company Secretary/Legal Adviser for the Nigerian Television Authority (NTA) from 1982 until 1992. She was elected as a Senator in Nigeria serving the Edo senatorial district between 2003-2007 and failed to get re-elected in the 2011 Nigeria general election for a second tenure.

Aside from her political pursuits, Danjuma comes from a distinguished background. She is the wife of General Theophilus Danjuma, a highly successful businessman and former military officer. Her business interests are in sectors such as oil and gas, telecommunications, real estate, and philanthropy.

Daisy also served on the board of several public and private firms. She was the director of the leading petroleum company, South Atlantic Petroleum (SAPETRO), and was appointed the chairperson of May & Baker Nigeria PLC, a leading pharmaceutical manufacturing company in 2019.

However, The Danjuma family’s fortune has been subject to criticism and controversies. Many have raised concerns about the transparency and fairness surrounding their business dealings, suggesting that their wealth may have been accumulated through questionable means.

12. Ahmadu Adamu Mu’azu – $895 million

Ahmadu Adamu Mu’azu is a Nigerian politician who served two terms as the Governor of Bauchi State from 1999 to 2007. He resigned as the Chairman of the Peoples Democratic Party (PDP) in 2015 due to pressures from the party leaders, stakeholders, and supporters.

Mu’azu attended Ahmadu Bello University, where he earned a degree in Political Science before proceeding to earn a master’s degree in Public Administration from the University of Maiduguri. He began his political career in the 1970s when he served as a member of the Bauchi State House of Assembly, he was later elected to the Senate, where he served as the Minority Leader.

Before his involvement with politics,  Mu’azu worked as a Quantity Surveyor/Project Manager in the Ministry of Health and Ministry of Social Welfare, Youth, Sports and Culture in Kano State. He also served as property manager of the Bauchi State Investment and Property Development Company. From 1984 until he was elected state governor in 1999, Mu’azu worked as a businessman in the private sector.

With an estimated net worth of $895 Million, however, like many politicians, Mu’azu takes the twelfth spot among the richest politicians in Nigeria. Numerous reports stated that he derived the majority income from various sources, including salaries and allowances from his political positions.

Mu’azu’s involvement in business ventures and investments also contributed to his financial  Fortunes. However, specific details about his business endeavors are not readily available. It is worth noting that  these are controversies and criticisms have emerged surrounding his wealth accumulation

13. Dino Melaye – $800 million

Dino Melaye, a former senator in the 8th Nigerian National Assembly and an aspiring governor of Kogi State, nabs the thirteen spot among the richest politicians in Nigeria, with an estimated net worth of $800 million.  He is known for his strong vigor and for being an excellent politician

A lover academic, Melaye attended Ahmadu Bello University, where he earned a degree in Geography and went on to earn a law degree from the University of Lagos. His political career began in 2003 when he was elected to the Kogi State House of Assembly. He was also elected to the Nigerian Senate in 2015 and has since been a vocal critic of governmental unfavorable policies.

While in the Senate, Melaye has served on various committees, including the Committee on Petroleum Upstream, the Committee on Army, and the Committee on Local and Foreign Debt. He remains a popular figure in Nigerian politics. He is known for his flamboyant style and his close relationship with the Nigerian entertainment industry.

Melaye has built a strong support base through his populist rhetoric, captivating public speaking skills, and engaging social media presence. Melaye’s knack for capturing attention and effectively communicating his message has resonated with many Nigerians, particularly the youth population.

At this moment, Dino Melaye has an estimated net worth of $800 million, primarily sourced from his political career, including salaries, allowances, and benefits as a legislator. Melaye has also engaged in business ventures, including investments in real estate and the entertainment industry, which have likely contributed to his financial success making him one of the richest politicians in Nigeria.

14. Rotimi Amaechi – $780 million

Chibuike Rotimi Amaechi was the former minister of transportation who served from 2015-2022 and an APC primary aspirant in the 2023 election. He is a native of Rivers State where he served as a two-term Governor from 2007 to 2015. Before then, he served as the speaker of the Rivers State House of Assembly from 1999 to 2007.

Like every other successful politician on this list, Amaechi has several sources of income which include business investments, particularly in the maritime and transportation sectors, of which Politics is one of the major sources.  Amaechi also has a thing for expensive vehicles which includes a Mercedes-Maybach Vision 6, a Mercedes Amg G63, a Mercedes S550, a Land Rover Discovery, and a Lexus LX 570.

Before his fulfilling political career, Amaechi worked at  Pamo Clinics and Hospitals Limited. He also served as a director of several companies, including West Africa Glass Industry Limited and Risonpalm Nigeria Limited. It is imperative to note that has a degree in English Studies and Literature from the University of Port Harcourt in 1987. He also recently became a graduate of law.

Some critics have raised concerns about the source of his wealth and alleged improper financial practices. These controversies have added a layer of scrutiny to his political career and have led to debates about the transparency and accountability of public officials in Nigeria.

15. Ben Murray-Bruce – $715 million

Ben Murray-Bruce is a Nigerian businessman turned politician, he is regarded as a business magnate who has achieved a lot of milestones in the area of business and also in politics. Thanks to his enormous success both as a politician and a businessman, Ben has been able to accumulate a net worth of  $175 Million making him one of the richest politicians in Nigeria.

In 2011, Ben Murray-Bruce took a shot at the governorship of Bayelsa State, running with high hopes under the People’s Democratic Party. Unfortunately, his dreams were dashed when he was disqualified from the gubernatorial race during the screening process.

While he was still determined, on 27 October 2014, he bravely announced his intention to run for the Bayelsa East Senatorial District at the National Assembly, once again representing the People’s Democratic Party. Against the odds, he triumphed and emerged as the elected senator where he served between 2015 and 2019.

As a senator, Murray-Bruce was known for his advocacy on issues related to youth empowerment, entrepreneurship, and economic development. His political career has been centered primarily in Nigeria, where he has actively participated in the country’s political landscape.

Murray-Bruce’s background is rooted in business, as he founded the Silverbird Group, a diversified entertainment and media conglomerate. The group includes television and radio stations, cinemas, and real estate investments. Ben’s success in the business world has contributed to his overall net worth.

16. Stella Oduah – $600 million

Stella Oduah is the second female politician on this list appearing as one of the richest politicians in Nigeria. Oduah served as the Minister of Aviation under President Goodluck Jonathan’s administration from 2011 to 2014. During her tenure, she oversaw several initiatives aimed at transforming the aviation sector in Nigeria.

Meanwhile, Oduah’s journey into politics was preceded by a successful career in the private sector, particularly in the oil and gas industry. Her experience and knowledge in the sector likely played a role in her appointment as Minister of Aviation. Stella Oduah’s political career took a new turn in 2015 when she was elected to the Nigerian Senate, representing the Anambra North Senatorial District under the umbrella of the People’s Democratic Party.

Meanwhile, her income sources include her salaries and allowances as a public servant, as well as profits from her private enterprises. Oduah has been involved in the oil and gas sector, where she had business interests before her political career. However, controversies and criticisms have surrounded her wealth accumulation.

In 2013, she faced allegations of financial impropriety concerning the purchase of armored vehicles for the Nigerian Civil Aviation Authority. Her net worth is however estimated to be $600 million which makes her one of the richest politicians in Nigeria as well as one of the richest senators in Nigeria.

17. Nyesom Wike – $550 million

Nyesom Wike, former governor of Rivers State Joins the list of the richest politicians in Nigeria, with an estimated net worth of $550 Million. He presently served as the minister of the Federal Capital Territory. Before his recent appointments, Wike served as the governor of Rivers State from 2015 to 2023.

Wike began his political career in 1999 when he was appointed chairman of his local government Obio Akpor. He then served as the Chief of Staff to the Rivers State Governor from 1999 to 2007, then went on to become the Minister of State for Education from 2011 to 2015.

In a momentous announcement in March 2022, Nyesom Wike declared his bid for the presidency of Nigeria, vying for the position under the banner of the People’s Democratic Party for the 2023 General Election. He however lost during the party primaries, as he faced stiff competition from Atiku Abubakar.

His known income sources include his salaries and allowances as a public servant, including his time as a minister and governor. Wike has also been involved in business ventures and investments, although specific details are not widely available. Some critics have raised concerns about the source of his funds and questioned whether his assets align with his declared income. Wike’s however has an estimated net worth of $550 million.

18. Godswill Akpabio – $530 million

Godswill Akpabio is the President of the present 15th Nigerian Senate. He is also one of the richest and most prominent politicians in Nigeria, with an estimated net worth of $530 Million.  Akpabio is also a lawyer, who served as the served as governor of Akwa Ibom State from 2007 to 2015  and the minister for Niger Delta Affairs from 2019-2022.  He is also currently serving as a Senator representing Akwa Ibom North-West Senatorial District.

Akpabio started his political journey as a member of the People’s Democratic Party (PDP). Still, his rise to prominence began when he was elected as the Governor of Akwa Ibom State, serving two consecutive terms from 2007-2015. Additionally, he was appointed as the Minister of Niger Delta Affairs in 2019, where he has continued to contribute to the region’s development.

Before his prosperous Political career, He worked with EMIS Telecoms Limited, a wireless telecommunications company in Nigeria. He eventually rose to become the Chief Executive Officer of the company. He also served as the National Publicity Secretary of the Association of Telecommunication Companies in Nigeria, (ATCOM).

In the early days of his political career, he was appointed Honorable Commissioner for Petroleum and Natural Resources. Between 2002 and 2006, he served as a Commissioner in three key ministries: Petroleum and Natural Resources, Local Government and Chieftaincy Affairs, as well as Lands and Housing.

Like many politicians on the list, the sources of Akpabio’s wealth have been subjected to criticisms and controversies. Some reports have speculated that the veteran Akwa Ibom Politician has gotten the majority of his wealth through the misappropriation of public funds and embezzlement.

19. Adams Oshiomole – $500 million

APC Chieftain and former governor of Edo state, Adams Oshiomole Nigerian politician, with an estimated net worth of $500 Million takes the nineteen place among the richest politicians in the country. He is presently a senator representing Edo North Senatorial District.   Professionally he had also represented African workers for two terms on the Governing Body of the International Labour Organization (ILO).

Before his tenure as the governor of  Edo state, Oshiomole had served as the president of the Nigeria Labour Congress from 1999 to 2007 and as Textile Union General Secretary in 1982.  He served as  governor of Edo State from 2008 to 2016 Additionally, he served as the National Chairman of the APC from 2018 to 2020, during which time he played a crucial role in leading the party and shaping its policies

While serving as the  General Secretary of the National Union of Textile, Garment and Tailoring Workers of Nigeria and president of the Nigerian Labour Congress, Oshiomole was prominent as the leader of a campaign of industrial action against high oil prices in Nigeria. He also negotiated a 25% wage increase for public sector workers during the Obasanjo regime. In return, he publicly supported and endorsed his candidacy when he was re-elected in 2003.

In terms of business ventures, Oshiomhole has been associated with different investments, including real estate and consultancy services. However, there have been controversies and criticisms surrounding his wealth accumulation. Some critics argue that his wealth has grown disproportionately to his legitimate income sources, raising questions about potential corrupt practices or abuse of power.

20. Oluremi Tinubu ($400 Million)

Oluremi Tinubu is a  former senator, the current first lady of Nigeria, and one of the richest politicians in Nigeria, with an estimated net worth of $400 Million. She was the first lady of Lagos State from 1999 to 2007 when her husband was governor. She was the senator representing Lagos Central Senatorial District at the Nigerian National Assembly from 2011 to 2023.

As first lady of Lagos State, she established the New Era Foundation, dedicated to establishing centers for “all-round development of young ones and promote public awareness on environmental health and community service.” While in the Senate during her three tenures, Tinubu pushed for human empowerment policies.

In 2020, she called for the creation of state police as a way of tackling the rising spate of insecurity in the country and proposed a bill to reform the Nigerian Postal Service (NIPOST) to make it a more viable entity in 2021.

Tinubu also operates a Youth Empowerment and Skill Acquisition Scheme in collaboration with the Good Boys and Girls Empowerment Scheme (GBGES), which has produced 1,172 beneficiaries. About 164 youths were trained on various skills and received start-up kits and capital of about N40,000 each.

She received the award for the most impactful female senator at The Guardian-organized International Women’s Day Summit 2021. She has won several awards and received several honors, the awards and honors she received are: The national award of the Officer of the Order of the Niger [OON], Ghana Noble International Award for Leadership (2004), Gambian Diamond Award for Immense Contribution to the Emancipation of People from Poverty (2005)

 

Methodology and Criteria for Ranking

Although, we can not independently verify some of these facts of how wealthy these Nigerian politicians are we have employed the vast resources present on the internet and a variety of reliable sources that have chosen in their time to research and delve into the possibilities and likelihood of the depth of the richness and vast wealth the top richest politicians in Nigeria controls. We have also chosen to consider some factors in which we have gathered our facts and to determine how rich the Nigerian politicians are concerning the estate they control, the cars, investments, affiliations, and assets are some of the things that are in consideration leading the ranking of this list.

Wealth and Politics in Nigeria

In Nigeria, there is often a strong link between politics and wealth accumulation. Several factors contribute to the wealth of Nigerian politicians, which have shaped the public’s perception of wealthy politicians in the country.

It is no secret that many Nigerian politicians have amassed considerable wealth during their time in public office. Several factors contribute to the wealth of Nigerian politicians. Firstly, the vast resources and opportunities available in Nigeria, including oil revenues and lucrative government contracts, can be exploited for personal gain. Corruption, unfortunately, has plagued the political landscape, with politicians using their positions to siphon funds and engage in fraudulent practices.

Moreover, the lack of transparency and accountability in governance has created an enabling environment for wealth accumulation. Nigerian citizens, many of whom struggle with poverty and limited access to basic services, often view the lavish lifestyles of politicians with frustration and disillusionment. The perception of wealthy politicians as disconnected from the everyday struggles of the populace has led to a general mistrust and disillusionment with the political class as a whole. While some individuals perceive these politicians as successful and influential figures who have made smart investments, others view them as corrupt people in the realm of power engaging in corrupt practices or taking advantage of their positions for personal gain.

However, it is important to note that not all wealthy Nigerian politicians are involved in illicit activities. Some individuals have legitimately accumulated wealth through successful business ventures, investments, or other legal means. Nevertheless, the blurred line between legitimate income sources and corruption has created a complex landscape where public perception remains wary of wealthy politicians.

Conclusion

While transparency in the realm of government may still be something that the country is not close to, however, monitoring and transparency in Nigerian politics are vital to ensure accountability and combat corruption, thereby fostering trust and integrity in the political system. Ultimately, the future of Nigerian politics and wealth distribution depends on reforms that prioritize equitable distribution, ethical governance, and opportunities for socioeconomic advancement for all citizens.

By addressing systemic challenges and promoting policies that foster fair wealth distribution, Nigeria can strive towards a more just and prosperous society. Political leaders must prioritize the welfare of the people, prioritize good governance, and work towards building a more equitable and inclusive nation.

Top 20 Richest Politicians in Nigeria (2023)

This is the table for the top 20 richest politicians in Nigeria. It contains their names and net worth.

Politician	Position	Net Worth
1. Bola Ahmed Tinubu	President	$8.4 billion
2. Ibrahim Badamasi Babangida	Head of State	$5 billion
3. Andy Uba	Senator	2.1 billion
4. Abubakar Bukola Saraki	Senate President, Governor	$2 billion
5. David Mark	Senate President	$2 billion
6. Atiku Abubakar	Vice President	$1.8 billion
7. Ifeanyi Ubah	Senator	$1.7 billion
8. Olusegun Obasanjo	Head of State, President	$1.6 billion
9. Rochas Okorocha	Senator, Governor	$1.4 billion
10. Orji Uzor Kalu	Senator, Governor	$1.1 billion
11. Daisy Danjuma	Senator	$900 million
12. Ahmadu Adamu Mu’azu	Senator, Governor	$895 million
13. Dino Melaye	Senator	$800 million
14. Rotimi Amaechi	Minister, Governor	$780 million
15. Ben Murray-Bruce	Senator	$715 million
16. Stella Oduah	Minister, Senator	$600 million
17. Nyesom Wike	Minister, Governor	$550 million
18. Godswill Akpabio	Senator, Governor	$530 million
19. Adams Oshiomole	Senator, Governor	$500 million
20. Oluremi Tinubu	Senator, First Lady	$400 million

FAQs

Who is the richest politician in Nigeria?

Bola Ahmed Tinubu is the richest politician in Nigeria with an estimated net worth of $8.4 billion.

How do politicians in Nigeria amass such enormous wealth?

It is a general belief because of the corruption in the Nigeria political system that most politicians get their wealth from the misappropriation of public funds, however, politicians get their money from their salaries (bonuses) and business dealings, while others get their enormous wealth from looting the public fund.

How do Nigerian politicians compare to politicians in other countries in terms of wealth?

Nigerian politicians are among the wealthiest in the world. In terms of wealth and comparison with other countries, Nigeria leads other followers.

Who is the youngest Nigerian politician to make it to the list of rich politicians?

Dino Melaye is the youngest Nigerian politician to make it to the list of richest politicians.

Are there any female politicians on the list of the richest politicians in Nigeria?

Yes, some of the females on the list of the richest politicians in Nigeria include, Daisy Danjuma with a net worth of $900 million, Stella Oduah with a net worth of $600 million, and Diezani Alison-Madueke with a net worth of $500 million.

Which political party has the highest number of wealthy politicians in Nigeria?

The People’s Democratic Party has the highest number of wealthy politicians in Nigeria.

Can politicians legally engage in business ventures while holding public office?

Yes, a politician can engage in business ventures while folding an office, irrespective of the position, but can not actively be the head of an organization.

Are there any self-made wealthy politicians in Nigeria?

Yes, many politicians in Nigeria are self-made, they had already been rich and doing fine as a businessman before joining politics. Some of them include Ben Murray-Bruce, Ifeanyi Ubah, Abubakar Bukola Saraki, Daisy Danjuma, and many others who used politics to bring themselves to the limelight.

What are the major industries or sectors that contribute to the wealth of Nigerian politicians?

Majorly, the oil and gas sector contributed greatly to the enormous wealth of most politicians, while others are real estate and investments in shares, it is however not limited to these.

How do Nigerian politicians disclose their sources of wealth?

Before taking office each politician will declare their assets although, most times their source of wealth isn’t commensurate with their wealth, they are also required to declare assets at the end of their tenure while leaving office.

Are politicians required to pay taxes on their wealth?

Yes like every citizen, but most politicians have been able to find a way to pay their due taxes because of the enormous wealth they control.

What is the role of political connections in the wealth accumulation of Nigerian politicians?

It is not a new thing that politics in Nigeria is like a job everyone wants to get that’s why there is so much violence in Nigeria politics, 90% of people viewing for the position are looking for a way to fill their pocket because the corrupt practices and misappropriation of public funds which most politicians. It is a known fact if you are a politician in Nigeria your generation present and to come might not go broke again, hence the reason why many kill for it.

Are there any politicians who have lost significant wealth due to legal actions or scandals?

Yes, several politicians have lost their properties, assets, and money due to a significant number of legal actions by the government against them.

How transparent is the process of determining politicians’ net worth in Nigeria?

Well, net worth declarations among Nigeria politicians are hard to determine even though many metrics can be used, but only a fraction of their wealth comes to public eyes as most of them control assets offshore Nigeria sometimes with their names on it or family and friends name to avoid been directly linked to them.

Do politicians in Nigeria face any restrictions on accepting gifts or donations?

Not at all, as a politician there is no restriction from accepting gifts from people, it only becomes an issue if the gift is intended to gain favor because of their political position, there is however a restriction on that.

Are there any politicians who have transitioned from business to politics or vice versa?

Yes, there are a ton of politicians who have enjoyed a great time in business, who have built successful businesses before joining politics, and politicians who after or before leaving office have started a business of their own that are currently listed as some of the best in their various industries.

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