Are you wondering who the richest king in Nigeria 2016 is, then read on. It is no surprise that these powerful monarchs in Nigeria have undiluted wealth as they have businesses and investments scattered home and abroad.
According to Forbes rating, the current richest king in Nigeria is The Olugbo of Ugbo Kingdom, HRM Frederick Obateru Akinruntan. It will shock most people as to why the 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 Nigeria.
Although, the likes of the Ooni of Ife and the Alaafin were included in the list of wealthiest monarchs in Africa, with Oba Akinruntan rated to have an estimated net worth of $300 million while Oba Sijuade estimated net worth is about $75 million. The Ooni of Ife has investments in construction, landed properties and oil while Oba Akinruntan is mostly into oil.
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Why Oba Akinruntan is the Richest King in Nigeria
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, Oba Akinruntan is into real estate with Hotels in Abuja, buildings both home and abroad. He entered the history books in 2012 when he became the first black person to buy the 2014 model of Bentley which was accustomed only for Queen Elizabeth of England.
These are the investments that makes Oba Akiruntan the richest king in Nigeria 2016 with an estimated net worth of $300 million