Top 5 Richest Governors in Nigeria and the Businesses They Own

Nigeria is home to some of the richest political figures in Africa, and among them, state governors stand out not only for their political influence but also for their substantial wealth. 

These governors have accumulated their fortunes through a combination of strategic business ventures and leveraging their political positions.

Below, we delve into the top 5 richest governors in Nigeria in 2024, showcasing the companies they own that have contributed to their immense wealth.

1. Dapo Abiodun (Ogun State)

 Net Worth: $314 million  

 Business:Heyden Petroleum 

 Dapo Abiodun, the governor of Ogun State, has established himself as a major player in the oil and gas industry. He is the founder and owner of **Heyden Petroleum**, a prominent company in Nigeria’s oil sector. He also owns **First Power Ltd.**, a company focused on energy solutions. His business ventures in these high-demand industries have significantly contributed to his wealth.

2. Godwin Obaseki ( Edo State)

Net Worth: $225 million

Business: Politics

Godwin Obaseki, the Governor of Edo State, has an estimated net worth of $225 million, ranking him among Nigeria’s richest politicians. He holds a bachelor’s degree in classical art from the prestigious University of Ibadan in Oyo State. Obaseki furthered his education in the United States, attending Pace University and Columbia University. His business interests span several key economic sectors. Initially a member of the All Progressives Congress (APC), Obaseki later switched to the People’s Democratic Party (PDP) to run for his second term.

3. Charles Soludo (Anambra State)

 Net Worth: $300 million  

 Business: Former CBN Governor

Charles Soludo, an accomplished economist and former governor of the Central Bank of Nigeria (CBN), has extensive investments in the banking and financial services sectors. While he is known for his influential roles in economic policy, his private investments in financial institutions have also played a key role in building his wealth.

4.Peter Ndubuisi Mbah(Enugu State)

Net Worth:$10 Million

Business: Pinnacle Oil and Gas Ltd, GILPEL Industries Ltd

Born in 1972, is the Governor of Enugu State since May 2023 with a net worth of $10 million. He has a background in financial analysis, marine law, and politics. Mbah owns several businesses, including Peter Mbah Investments Limited which serves the oil and gas industry, FOCUS International Schools, and GILPEL Industries Ltd. He is also the founder and CEO of Pinnacle Oil and Gas Ltd., notable for completing key infrastructure projects in the Lekki Free Trade Zone in 2021.

5.Babajide Olusola Sanwo-Olu(Lagos State)

Net Worth:$9 Million

Business: CEO of the Lagos State Property Development Corporation (LSPDC)

Born on June 25, 1965, is the current Governor of Lagos State, with a net worth of $9 million. He took office in 2019 after winning against the previous governor in his party’s primary election. He studied at well-known institutions like the John F. Kennedy School of Government and the London Business School. Before becoming governor, he was in charge of the Lagos State Property Development Corporation.