The Top 10 Richest Governors In Nigeria 2025 And Their Net Worth shows the most successful state leaders across the country. Mohammed Umar Bago tops this list with $700 million. This makes him the richest governor in Nigeria and the only serving governor featured on Forbes list in 2025.
Nigerian governors are elected for four years and can serve a maximum of two terms. These state leaders manage large budgets and oversee development projects. Many governors have built significant wealth through business ventures before and during their time in office. These rich governors have made their money through real estate, oil and gas, banking, farming, and other business deals.
Quick Summary: Top 10 Richest Governors in Nigeria 2025
- Mohammed Umar Bago – $700 million (Niger State – Real Estate, Investments)
- Siminalayi Fubara – $600 million (Rivers State – Oil & Gas, Banking)
- Uba Sani – $400 million (Kaduna State – Real Estate, Politics)
- Dapo Abiodun – $350 million (Ogun State – Oil & Gas, Manufacturing)
- Charles Soludo – $300 million (Anambra State – Banking, Economics)
- Godwin Obaseki – $225 million (Edo State – Finance, Real Estate)
- Alex Otti – $200 million (Abia State – Banking, Investments)
- Peter Mbah – $180 million (Enugu State – Oil & Gas, Legal Practice)
- Bala Mohammed – $150 million (Bauchi State – Real Estate, Politics)
- Babajide Sanwo-Olu – $130 million (Lagos State – Banking, Real Estate)
How We Ranked Nigeria’s Richest Governors
Our ranking looks at many factors. These include business deals before politics, real estate holdings, oil and gas investments, and proven assets. We used criteria like businesses, investments, assets and personal property to judge the net worth of these serving governors in Nigeria.
1. Mohammed Umar Bago – $700 Million
Governor Mohammed Umar Bago is the current governor of Niger State and the richest governor in Nigeria 2025 with a net worth of over $700 million. He is the only Nigerian governor this 2025 whose name appeared on Forbes list among the most successful and richest men in Nigeria.
Key Wins:
- Current Governor of Niger State (2023-present)
- Only sitting governor on Forbes list 2025
- Born into a wealthy family
- Successful businessman before politics
Major Business Deals:
- Real estate development across Nigeria
- Investment portfolios in various sectors
- Family business interests
- Property holdings in major cities
- Agricultural investments
Properties & Assets:
- Extensive real estate in Abuja and Niger State
- Business properties across Nigeria
- Investment holdings in multiple companies
- Agricultural estates
- Luxury vehicles and properties
2025 Highlights: Governor Umar Bago was already a wealthy man even before he became governor of Niger State or assumed any public office. Born into a wealthy family, Umar Bago has investments in various businesses. With a net worth running into billions of Naira, he is proudly the wealthiest state governor in Nigeria 2025.
2. Siminalayi Fubara – $600 Million
Governor Siminalayi Fubara is the second richest governor in Nigeria 2025 and the present governor of Rivers State. He was sworn in on May 29, 2023, after winning the governorship election. Before becoming governor, Fubara served as the Accountant-General of Rivers State.
Key Wins:
- Current Governor of Rivers State (2023-present)
- Former Accountant-General of Rivers State
- Background in accounting and finance
- Strong financial management skills
Major Business Deals:
- Oil and gas sector investments
- Banking and financial services
- Real estate development projects
- Investment portfolios
- Political consulting
Properties & Assets:
- Real estate in Port Harcourt and Abuja
- Oil and gas investment stakes
- Banking sector holdings
- Luxury properties and vehicles
- Government benefits and allowances
2025 Highlights: With a net worth of $600 million, Governor Fubara represents the new generation of wealthy Nigerian politicians. His background in finance and accounting has helped him build substantial wealth before entering the governor’s office.
3. Uba Sani – $400 Million
The third richest Nigerian governor this 2025 is Kaduna State governor, Uba Sani. His net worth which is valued to be around $400 million makes him a rich governor. Born on December 7, 1970, he had occupied various public offices that boosted his chances of becoming a state governor.
Key Wins:
- Current Governor of Kaduna State (2023-present)
- Former Special Advisor to President Olusegun Obasanjo
- Former Senator representing Kaduna Central
- Mechanical Engineer with finance degree
Major Business Deals:
- Real estate development projects
- Political consulting and advisory
- Property investments across Nigeria
- Import and export businesses
- Agricultural ventures
Properties & Assets:
- Extensive real estate portfolio
- Properties in Abuja, Lagos, and Kaduna
- Luxury vehicles
- Investment holdings
- Government pensions and benefits
2025 Highlights: Sani was appointed as Special Advisor on Public Affairs to former President Olusegun Obasanjo. He also worked at the Federal Capital Territory Administration (FCTA) in advisory roles to the then FCT Minister, Nasir Ahmad El-Rufai. Uba Sani holds a Master of Science degree in Finance from the University of Calabar.
4. Dapo Abiodun – $350 Million
Governor Dapo Abiodun is the fourth richest Nigerian governor on our list and he is the current governor of Ogun State. Before becoming the governor of Ogun State, he was the Board Chairman of the Corporate Affairs Commission. He is a major investor in the oil and gas industry.
Key Wins:
- Current Governor of Ogun State (2019-present)
- Former Board Chairman of Corporate Affairs Commission
- Former Managing Director of Heyden Petroleum
- Founder of First Power Limited
Major Business Deals:
- Heyden Petroleum operations
- First Power Limited (energy sector)
- Oil and gas exploration and production
- Manufacturing and industrial investments
- Real estate development
Properties & Assets:
- Oil and gas investment stakes
- Manufacturing facilities
- Real estate across Nigeria
- Energy infrastructure
- Luxury properties and vehicles
2025 Highlights: Even before becoming governor, Abiodun held the position of Managing Director of Heyden Petroleum. He is the founder of First Power Limited and a major investor in the oil and gas industry. His wealth is estimated at $350 million.
5. Charles Soludo – $300 Million
Governor Soludo, the current governor of Anambra State, is presently the fifth richest governor in Nigeria in 2025. His net worth is estimated to be a whopping $300 million. Governor Soludo is an accomplished economist and banker.
Key Wins:
- Current Governor of Anambra State (2022-present)
- Former Governor of Central Bank of Nigeria (2004-2009)
- Professor of Economics
- Member of Presidential Economic Advisory Committee
Major Business Deals:
- Banking sector consulting
- Economic advisory services
- Real estate investments
- International consulting work
- Academic and research funding
Properties & Assets:
- Real estate in Anambra, Lagos, and Abuja
- Banking sector investments
- Academic properties and facilities
- International property holdings
- Investment portfolios
2025 Highlights: He proved his skill in the Nigerian banking sector when he worked as the Governor of the Central Bank of Nigeria during the early stages of his career. Soludo is an active member of All Progressives Grand Alliance (APGA). He has served as consultant for many international organizations like the World Bank and United Nations.
6. Godwin Obaseki – $225 Million
Godwin Obaseki is the immediate past governor of Edo State with a net worth currently standing at $225 million. He graduated from the University of Ibadan with a bachelor’s degree in classical art. During his early years, he attended St. Matthew’s Anglican Primary School and Eghosa Anglican Grammar School in Benin City.
Key Wins:
- Former Governor of Edo State (2016-2024)
- Background in finance and investment banking
- Economic and financial management expert
- Private sector experience before politics
Major Business Deals:
- Investment banking and financial services
- Real estate development projects
- Economic consulting
- Property investments
- Agricultural ventures
Properties & Assets:
- Real estate in Edo State and Abuja
- Banking sector investments
- Commercial properties
- Luxury vehicles and homes
- Government pensions
2025 Highlights: Obaseki replaced Adams Oshiomhole as Edo State governor, continuing the APC stronghold on the state. His background in finance and business before politics underpins his significant wealth. His business foundation adds financial stability to his political role.
7. Alex Otti – $200 Million
Sitting at number seven on this list of richest governors in Nigeria 2025 is Governor Alex Otti, the current governor of Abia State with an estimated net worth of over $200 million. Otti is a politician, banker, investor, philanthropist, and economist from Nigeria.
Key Wins:
- Current Governor of Abia State (2023-present)
- Former Group Managing Director of Diamond Bank Plc
- Banker and economist
- Seen as one of the best performing governors
Major Business Deals:
- Banking sector investments
- Diamond Bank executive positions
- Investment and portfolio management
- Real estate development
- Economic consulting services
Properties & Assets:
- Banking sector shareholdings
- Real estate across Nigeria
- Investment portfolios
- Commercial properties
- Luxury vehicles and homes
2025 Highlights: Otti was Diamond Bank Plc’s (a Nigerian retail financial institution) former Group Managing Director. He stood for governor of Abia State on the Labour Party (LP) ticket. He is also seen as the best governor in Nigeria who is working very well for his people.
8. Peter Mbah – $180 Million
Peter Ndubuisi Mbah is a politician, financial analyst, and marine lawyer. He has been the governor of Enugu State since May 29, 2023. He is a member of the Nigerian Bar Association, the Nigerian Institute of International Affairs, and the Certified Institute of Public Administration and Management (CIPM).
Key Wins:
- Current Governor of Enugu State (2023-present)
- Founder and CEO of Pinnacle Oil and Gas Ltd
- Marine lawyer and financial analyst
- Founder of FOCUS International Schools
Major Business Deals:
- Pinnacle Oil and Gas Ltd (oil marketing)
- Peter Mbah Investments Limited
- GILPEL Industries Ltd (import/export)
- FOCUS International Schools in Lagos
- Oil storage and distribution facilities
Properties & Assets:
- Pinnacle Oil and Gas infrastructure
- Single Point Monitoring (SPM) facilities in Lekki
- Educational facilities (FOCUS Schools)
- Real estate across Nigeria
- Oil marketing and distribution assets
2025 Highlights: In 1992, he started his own business, Peter Mbah Investments Limited, which provides services to the oil and gas industry. The company completed the development of storage facilities in the Lekki Free Trade Zone in 2021. His net worth is estimated at $180 million.
9. Bala Mohammed – $150 Million
The executive governor of Bauchi State, Governor Bala Mohammed, is next on the list. He is among the wealthiest governors in Nigeria, with an estimated net worth of $150 million. Bala graduated from the University of Maiduguri with a Bachelor of Arts in English.
Key Wins:
- Current Governor of Bauchi State (2019-present)
- Former Minister of Federal Capital Territory
- Active PDP member
- Background in public administration
Major Business Deals:
- Real estate development projects
- Political consulting
- Property investments
- Agricultural ventures
- Import and export businesses
Properties & Assets:
- Real estate in Bauchi and Abuja
- Farmlands and agricultural estates
- Commercial properties
- Luxury vehicles
- Government benefits and pensions
2025 Highlights: Bala Mohammed had been successful in his own right before being appointed Governor. He is an active member of the PDP and was the Minister of the Federal Capital Territory. His wealth reflects years of public service and smart business investments.
10. Babajide Sanwo-Olu – $130 Million
Governor Babajide Sanwo-Olu is the governor of Lagos State, Nigeria’s economic hub. With an estimated net worth of $130 million (₦45 billion), he is one of the wealthiest serving governors. He was first elected in 2019 and re-elected in 2023 under the All Progressives Congress (APC).
Key Wins:
- Current Governor of Lagos State (2019-present)
- Former MD/CEO of Lagos State Development Property Corporation
- Three-time Commissioner in Lagos State
- Background in banking and finance
Major Business Deals:
- Banking sector experience (UBA, FCMB)
- Real estate investments
- Consultancy and asset management
- Political patronage networks
- Property development
Properties & Assets:
- Real estate in Lagos, Abuja, and abroad
- Duplex in Ikeja GRA (₦400 million)
- Luxury villa in Asokoro, Abuja (₦600 million)
- Banking sector investments
- Luxury vehicles and state-provided assets
2025 Highlights: Sanwo-Olu worked at Lead Merchant Bank, United Bank for Africa (UBA), and First Inland Bank in executive roles. As governor of Nigeria’s wealthiest state, his position enhances his wealth-building opportunities. He holds degrees from University of Lagos, Harvard Kennedy School, and London Business School.
Wealth Distribution Trends Among Nigerian Governors
The Top 10 Richest Governors In Nigeria 2025 And Their Net Worth reveals interesting patterns about wealth creation in Nigerian politics. Governors often use their political influence, diverse investments, and strategic business deals during and after their time in office.
Key Observations:
- Oil and gas sector provides highest returns
- Banking background helps many governors build wealth
- Real estate remains the most popular investment
- Political office opens networking opportunities
- Northern governors dominate the top positions
The combined wealth of these ten governors exceeds $3.3 billion. This shows how political leadership can combine with business skills to create significant wealth in Nigeria.
Frequently Asked Questions
Mohammed Umar Bago is the richest governor in Nigeria 2025 with a net worth of $700 million. The Niger State governor is the only sitting Nigerian governor whose name appeared on Forbes list in 2025. He was already a wealthy man before becoming governor.
They invest in real estate, oil and gas, banking, farming, and other business ventures. Many governors build wealth through political connections, business deals, and investments made before and during their time in office.
Each of Nigeria’s 36 state governors earns about ₦7.78 million per year (around ₦648,581 per month). However, they receive many allowances, benefits, and perks including official residences, vehicles, security, and staff that add to their total compensation.
While many governors build wealth, levels vary based on their investments and business skills. Some enter office already wealthy, while others build wealth during and after their political careers. Not all governors are billionaires.
Niger State has the richest governor in Nigeria in 2025. Governor Mohammed Umar Bago’s net worth of $700 million makes him the wealthiest among all 36 state governors currently serving.
Yes, many former governors continue to grow their wealth after leaving office. They often move into business, consulting, or other political positions that help them expand their wealth and influence.
While Lagos State is Nigeria’s richest state, Governor Babajide Sanwo-Olu ($130 million) is not the richest governor. This shows that a governor’s personal wealth depends more on their business background and investments than the state they govern.
Conclusion: Nigeria’s Wealthy Political Leaders
The Top 10 Richest Governors In Nigeria 2025 And Their Net Worth shows how political office, when combined with smart investments and business skills, can lead to significant wealth. From Mohammed Umar Bago’s $700 million to Babajide Sanwo-Olu’s $130 million, these governors represent Nigeria’s wealthy political elite.
These state leaders have built their fortunes through diverse means including oil and gas, banking, real estate, and political influence. Their success stories show that wealth creation in Nigerian politics requires more than just holding office. It demands business sense, strategic investments, and the ability to use political networks effectively.
What do you think about this ranking? Should governors be this wealthy while in office? Share your thoughts about the Top 10 Richest Governors In Nigeria 2025 And Their Net Worth in the comments below!
