Forbes have released list of the richest king in
Nigeria. The Olugbo of Ugbo Kingdom, HRM
Frederick Obateru Akinruntan was named the
richest monarch in Nigeria.
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 monarch.
In the list which has the Ooni of Ife and the
Alaafin, Oba Akinruntan was rated to have an
estimated net worth of $300 million, while Oba
Sijuade’s estimated net worth is about $75
million.
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The Ooni of Ife has investments in construction,
landed properties and oil while Oba Akinruntan
is mostly into oil.
Oba Akinruntan is owner of the largest
petroleum depot in Africa. He also owns Obat
Oil Company which he founded in 1981
alongside a gas station which has grown to over
60 gas stations across the nation.
Apart from Oil business, the Oba is also into
real estate, with Hotels in Abuja, buildings both
home and abroad.
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