5 Richest Nigerian Politicians You Don't Hear About
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Politics - June 16, 2023

5 Richest Nigerian Politicians You Don’t Hear About

The Nigerian political scene boasts a group of affluent politicians whose wealth and influence have brought them to the spotlight. While some are popularly known and widely acknowledged, there are others who seem to operate discreetly.  

These Nigerians possess financial prowess and political acumen that has shaped the nation’s socio-economic landscape behind closed doors. In this article, we will shed light on the lives of these politicians, revealing their entrepreneurial ventures, strategic political manoeuvres, and the intricate networks they have forged. Let’s get started.

Ifeanyi Ubah

Ifeanyi amassed significant wealth by combining politics and business together. He dropped out of school because his parents could not keep up with the demands of sponsoring his education. He started out as an exporter of motor tyres and spare parts majorly in West Africa including Ghana, Sierra Leone, Liberia and DR Congo. 

The Nigerian businessman later expanded his business ventures to some countries in Europe including Belgium and the United Kingdom. As the CEO of Capital Oil and Gas Limited, Ifeanyi has an estimated net worth of $1.7 billion.

Before venturing into politics, Ifeanyi also established The Authority Newspaper. Moreso, he purchased the Gabros International Football Club and renamed it Ifeanyi Ubah F.C. Ifeanyi lost his attempt to become Anambra Governor at the 2014 gubernatorial polls. He however won the Anambra South Senatorial elections under the platform of the Young Progressive Party (YPP) in 2019.  

Ifeanyi is currently contending with the federal government in a legal dispute. Earlier in 2019, the federal government initiated criminal proceedings against Ubah for making false claims in relation to the actual value of certain assets transferred to the Assets Management Corporation, AMCON under a consent judgment obtained in 2012.

Andi Uba

Emmanuel Nnamdi Uba popularly known as Andi Uba is a Nigerian politician who represented the Anambra South Senatorial District from 2011 to 2019. As a member of the People’s Democratic Party, Uba won the 2007 Anambra State Gubernatorial election but was declared unduly elected by the Supreme Court of Nigeria. 

Andy who reportedly contributed financially to the 1999 Presidential election boast of an estimated net worth of $2.1 billion. Some of the luxurious vehicles in his garage are the Mercedes Benz S550, Toyota Highlander, Toyota Landcruiser Prado, BMW 7, and Mercedes- Maybach S-class. The Nigerian politician also owns a N1 billion home in Abuja, purchased through close-to-home investment funds and a credit from the United Bank of Africa (UBA).

Ahmadu Adamu Mu’az

Ahmadu Adamu is a Nigerian politician that served as the Governor of Bauchi State from 1999-2007. He was also appointed as PDP Chairman and stands as one of Nigeria’s top richest men. With an estimated networth of $895 million, Ahmadu owns Lexus LX570, a Range Rover Discovery, and a Toyota Prius in his garage.

Ahmadu was one of those politicians indicted in former President Muhammadu Buhari’s anti-corruption effort. This comes as the Economic and Financial Crimes Commission (EFCC) uncovered over $50 million in cash stashed behind false walls in fire-resistant cabinets in one Ikoyi home.

The construction company that built the mansion stated that Ahmadu Adamu Mu’Azu was the owner, but the Northern wealthy denied all claims.

Ben Murray-Bruce

Ben Bruce is a Nigerian Senator behind the Silverbird Group. Bruce has held various public positions including Director-General of the Nigerian Television Authority. 

He contested for the gubernatorial seat of Bayelsa State which was unsuccessful but later went on to represent Bayelsa East Senatorial District at the National Assembly under the umbrella of the People’s Democratic Party. The Nigerian billionaire boasts a net worth of about $715 million.

Umaru Tanko Al-Makura 

Al-Makura is one of the Nigerian politicians named in a United States List. The List unveiled politicians and names of US banks where they hid their money. It was reported that Al-Makura hid about $510 million in State Street Corporation Bank. 

Al-Makura who served as the governor of Nasarawa State, Nigeria in 2011 was reportedly arrested by the EFCC for breach of trust and misappropriation of funds during his tenure. 

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