Estimated net worth: $300 million
Source: Oil
Oba Obateru Akinrutan is the Olugbo (traditional King) of Ugbo land, a small oil-rich community in Ondo state, in Nigeria’s southwestern region. Oba Akinrutan, who ascended the throne in 2009, is also the founder of Obat Oil, one of Nigeria’s largest privately-held oil trading companies. He founded the company in 1981 with a single gas station to meet the needs of his family and neighboring community. OBAT Oil now owns more than 50 gas stations across Nigeria as well as one of the largest tank farms in Africa- a modern storage facility that has the capacity to store 65 million liters of petroleum products. He also owns an extensive portfolio of prime commercial and residential real estate in London and Nigeria, including the landmark Febson Hotels and Mall in the Central Business District of Abuja.
Source: Forbes
