Politicians are well-admired in the society, because they have a lot of power and influence. They are supposed to serve the people, but some of them have used their positions to enrich their pockets at the expense of the people they were meant to serve. Below are the top ten richest politicians in Africa according to a publication on Read Nigeria Network (RNN.NG):
1. Bola Ahmed Tinubu ($8.4 Billion)
Bola Ahmed Tinubu is the richest politician in Africa with an. He’s a Nigerian accountant and politician. He also served as an assemblyman representing the Lagos-west senatorial district from 1992 to 1993 before moving on to become the Governor of Lagos State from 1999 to 2007.
Bola Ahmed Tinubu was one of the presidential applicants for the 2023 election under the All Progressive Congress party (APC) where he won the election and became the President. Speaking of his acquired parcels, some of them include, 10,000 hectares of land in Lakowe near Abijo at Ibeju- Lekki which is valued at N80 billion naira, a Fishery Landing quay in Badore valued at N500 million naira, the Ogudu foreshore scheme valued at N5 billion naira, 3.8 hectares of land at the Lagos State Fisheries Office in Victoria Island valued at 3 Billion, Ilubinrin housing estate, formerly used for Lagos State Civil retainers and judges until 2007, valued at N2.5 billion naira.
Bola Ahmed Tinubu’s net worth is estimated at $8.4 billion, making him the richest politician in Africa and also the richest politician in Nigeria.
2. King Mohammed VI ($5.7 Billion)
King Mohammed VI of Morocco is one of the richest politicians in Africa as well as the richest monarch in Africa. He’s the head of the state of Morocco, where his family has been ruling for about 400 times till he also came the king in 1999, after the death of his father.
King Mohammed VI inherited a 35% stake in Societe Nationale d’Investissement (SNI) from his father after his death.
With an estimated net worth of $5.7 billion, which is a credit of utmost of his business dealings, the Moroccan king is among the richest politicians in Africa who have gotten their wealth not from politics alone but other different business gambles.
3. Ibrahim Babangida ($5 Billion)
Ibrahim Babangida is a Nigerian Army general, politician and military head of state of Nigeria from 1985- 1993. IBB as he’s fondly called is one of the richest politicians in Nigeria.
Some reports, like Forbes, claimed his wealth was around $12 billion, but he denied this. Other sources estimate his net worth to be over $5 billion, which still makes him one of the richest politicians in Africa and Nigeria.
4. Abubakar Bukola Saraki ($2 billion)
Bukola Saraki is a prominent Nigerian politician, who has left an unforgettable mark on the country’s political geography. He served as the Governor of Kwara State from 2003 to 2011.
After that, he was elected a member of the Nigerian Senate, representing Kwara Central. He ultimately became the Senate President from 2015 to 2019, where he applied substantial influence and played a crucial part in legislative affairs.
Before he got into politics, Bukola Saraki worked as the Director of Société Générale Bank from 1990 to 2000. He also worked as a medical doctor for some time before deciding to leave the white-collar job.
Although Bukola Saraki faced political challenges and allegations of corruption and abuse of power related to mishandling plutocrat, he has been cleared of those charges. He’s now estimated to have a net worth of $2 billion, which makes him one of the richest politicians in Africa.
5. David Mark ($2 billion)
David Mark is a well-known Nigerian politician who served as the senate president from 2007 to 2015 when he was succeeded by Abubakar Bukola Saraki.
Mark is one of the many politicians who were suitable to gain a lot of wealth while serving in government. He became the Governor of Niger State in 1984 under the military government. He was also an assemblyman representing Benue South from June 1999 to June 2019.
6. Atiku Abubakar ($1.8 Billion)
Atiku Abubakar is a retired military officer, Nigerian politician and businessman who served as the Vice President of Nigeria from 1999 to 2007 during the administration of Olusegun Obasanjo.
He spent twenty years in the Nigeria Customs Service, rising to the post of Deputy Director. After leaving the service in April 1989, he concentrated on business and politics.
Atiku has contested for the office of the President of Nigeria five times but lost each time (2003, 2007, 2015, 2019, and 2023). Atiku Abubakar has an estimated net worth $1.8 billion.
7. Ifeanyi Ubah ($1.7 Billion)
Ifeanyi Ubah is a Nigerian politician and businessman. He has ventured into colorful business sectors, erecting thriving enterprises that have helped produce jobs and ameliorate the frugality in his birthplace and across Nigeria. He exports motor tires and spare parts to countries in West Africa like Ghana, Liberia, Sierra Leone, and DR Congo. He later expanded his business to Belgium and the United Kingdom.
8. Olusegun Obasanjo ($1.6 Billion)
Olusegun Obasanjo was the first military sovereign in Africa to hand over power to a civilian government. He served as Nigeria’s military sovereign from 1976 to 1979, and as President from 1999 to 2007.
Obasanjo’s involvement in business and investments has further contributed to his wealth. He has invested in sectors such as animal husbandry, telecommunications, and energy, showing that he understands business and has diversified income aqueducts. It is estimated that Obasanjo’s net worth is around $1.6 billion.
9. Rochas Okorocha ($1.4 Billion)
Rochas Okorocha is a Nigerian Assemblyman who represents Imo West Senatorial District in the Nigerian Senate. He started his political career in 1999 when the republic was restored in Nigeria. The support and followers he gained, led him to run for Governor in the 2007 general election under the People’s Democratic Party.
In the run-up to the 2011 general election, Rochas joined the All Progressive Grand Alliance (APGA), before switching to the APC where he was elected governor of Imo state and served two terms.
While there are reports that he was formerly a rich man before he was elected the governor of Imo state, Rochas Okorocha’s current net worth is estimated to be $1.4 billion.
10. Orji Uzor Kalu ($1.1 Billion)
Orji Uzor Kalu is a Nigerian politician and businessman. He was the Chief Whip of the Nigerian Senate. Orji Kalu is a former Governor of Abia State who served from 1999 to 2007.
As a businessman, he ventured into business at the age of 19, dealing with oil painting, rice, and sugar. Later on, he ventured into cabinet work manufacturing and transportation. By the age of 20, he was a millionaire according to reports.
Kalu is one of the most successful and richest politicians in Nigeria. His current net worth is estimated to be $1.1 billion.
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