The Top 10 Richest Men In Oyo State 2025 And Their Net Worth shows the most successful rich men from Nigeria’s historic “Pace Setter State.” Rasheed Ladoja tops this list with $750 million. This makes him the richest man in Oyo State and one of the Southwest’s wealthiest politicians.
Oyo State is located in the southwestern part of Nigeria with Ibadan as its capital. Ibadan was once the largest city in West Africa. The state is known for its rich history, agricultural strength, and cultural heritage. These rich people have made their money through politics, oil and gas, education, real estate, and construction.
Quick Summary: Top 10 Richest Men in Oyo State 2025
- Rasheed Ladoja – $750 million (Politics, Real Estate, Business)
- Seyi Makinde – $104 million (Oil & Gas, Engineering, Politics)
- Kola Daisi – $90 million (Banking, Education, Real Estate)
- Teslim Folarin – $65 million (Politics, Real Estate)
- Jonah Otunla – $50 million (Accounting, Finance, Government)
- Bayo Adelabu – $45 million (Banking, Finance, Real Estate)
- Adebayo Shittu – $40 million (Law, Politics, Real Estate)
- Monsurat Sunmonu – $35 million (Politics, Business, Real Estate)
- Jumoke Akinjide – $30 million (Law, Politics, Real Estate)
- Babajide Agunbiade – $25 million (Oil & Gas Engineering, Energy)
How We Ranked Oyo State’s Richest Men
Our ranking looks at many factors. These include business deals, political careers, oil and gas holdings, real estate, banking positions, and proven assets. We used criteria like businesses, investments, assets and personal property to judge the net worth of these rich people from Oyo state.
1. Rasheed Ladoja – $750 Million
Senator Rasheed Adewolu Ladoja is the richest man in Oyo State with a net worth of $750 million. Born on September 25, 1944, in the Gambari area near Ibadan, he is a former Governor of Oyo State and former Senator. He is known for his charming personality and philanthropic work.
Key Wins:
- Former Governor of Oyo State (2003-2007)
- Former Senator representing Oyo South
- Long-standing political figure in Southwest Nigeria
- Major philanthropist
Major Business Deals:
- Real estate development across Nigeria
- Oil and gas sector investments
- Import and export businesses
- Property holdings in major cities
- Political consulting and advisory
Properties & Assets:
- Extensive real estate in Ibadan, Lagos, and Abuja
- Oil and gas investment stakes
- Commercial properties and plazas
- Luxury vehicles and homes
- Government pensions and benefits
2025 Highlights: Ladoja is a billionaire whose mission in life is to put smiles on the faces of poor people. His wealth comes from decades in politics combined with smart business investments. He remains one of the most respected political figures in Oyo State.
2. Seyi Makinde – $104 Million
Engineer Oluseyi Abiodun Makinde is the current Governor of Oyo State and the second richest man in the state. Born on December 25, 1967, he is a businessman, politician, and philanthropist. He is the Group Managing Director of Makon Group Limited, an indigenous oil and gas company.
Key Wins:
- Current Governor of Oyo State (2019-present, re-elected 2023)
- Founder of Makon Group at age 29
- Electrical Engineer from University of Lagos
- Self-made billionaire before entering politics
Major Business Deals:
- Makon Engineering and Technical Services Limited
- Energy Traders and Technical Services Limited
- Makon Oil and Gas Limited
- Makon Group Limited
- Makon Construction Limited
- Makon Power System Limited
Properties & Assets:
- Companies valued at N48.15 billion (over $104 million)
- Properties in Nigeria, USA, and South Africa
- Real estate worth $4.4 million
- Eurobond worth $3.79 million
- Extensive business infrastructure
2025 Highlights: Makinde publicly declared his assets worth over N48 billion when he became governor in 2019. He established his first company in 1997 after working with international oil companies. The Makon Group now has four subsidiaries in Nigeria with branch offices in South Africa and USA.
3. Kola Daisi – $90 Million
Chief Abiola Ajimoko Kola Daisi is a successful banker turned education entrepreneur. He spent many years with First City Monument Bank (FCMB) before moving to the Nigerian Stock Exchange. He was able to influence and improve the Nigerian stock market significantly.
Key Wins:
- Founder of Kola Daisi University
- Former executive at FCMB
- Nigerian Stock Exchange expert
- Education sector investor
Major Business Deals:
- Kola Daisi University (one of Nigeria’s best private universities)
- Banking and financial services consulting
- Real estate investments
- Stock market investments
- Educational infrastructure
Properties & Assets:
- Kola Daisi University campus and facilities
- Real estate across Nigeria
- Banking sector investments
- Stock portfolio holdings
- Educational properties
2025 Highlights: Kola Daisi runs one of the best private universities in Nigeria. His experience in banking helped him build wealth before venturing into education. His net worth of $90 million makes him one of Oyo’s richest businessmen.
4. Teslim Folarin – $65 Million
Chief Adesoji Teslim Kolawole Folarin is a renowned politician and prince from a royal family in Ibadan. Although he spent most of his formative years outside Nigeria, he returned to join politics. He is currently a serving Senator from Oyo State.
Key Wins:
- Current Senator representing Oyo Central (2019-present)
- Former Senate Leader (2001-2007)
- Prince from Ibadan royal family
- APC gubernatorial candidate (2023)
Major Business Deals:
- Real estate development projects
- Political consulting
- Property investments
- Import and export businesses
- Agricultural ventures
Properties & Assets:
- Real estate in Ibadan and Abuja
- Luxury properties
- Political investment assets
- Agricultural estates
- Government benefits and pensions
2025 Highlights: Teslim Folarin is one of the richest men in Oyo State with great influence and wealth. He has held significant positions in the Senate and remains a major political force. His net worth is estimated at $65 million.
5. Jonah Otunla – $50 Million
Chief Jonah Olakunle Otunla is a renowned retired accountant and one of Oyo State’s illustrious sons. He served Nigeria through his profession and was the Accountant General of the Federal Republic of Nigeria before he retired.
Key Wins:
- Former Accountant General of the Federal Republic of Nigeria
- Managed various government accounts successfully
- Public service career spanning decades
- Financial management expert
Major Business Deals:
- Financial consulting services
- Real estate investments
- Property development
- Government contracts consulting
- Private accounting practice
Properties & Assets:
- Real estate across Nigeria
- Properties in Ibadan and Abuja
- Financial consulting assets
- Government pensions and benefits
- Investment portfolios
2025 Highlights: Jonah Otunla managed different government accounts with success during his active days. Although he has been linked to corruption allegations, he remains one of the richest men in Oyo State with an estimated net worth of $50 million.
6. Bayo Adelabu – $45 Million
Adebayo Adelabu is a banker, politician, and businessman. He was the former Deputy Governor of the Central Bank of Nigeria (CBN). Born in 1970 in Ibadan, he is one of the youngest successful bankers to reach such a high position.
Key Wins:
- Former Deputy Governor (Operations) of Central Bank of Nigeria
- APC gubernatorial candidate (2019)
- Banking executive with First Bank
- Financial management expert
Major Business Deals:
- Banking sector consulting
- Real estate development
- Financial advisory services
- Property investments
- Political consulting
Properties & Assets:
- Real estate in Ibadan, Lagos, and Abuja
- Banking sector investments
- Luxury properties and vehicles
- Investment portfolios
- Government benefits
2025 Highlights: Adelabu’s banking career at First Bank and CBN helped him build substantial wealth. He contested for governor in 2019 and remains active in politics. His net worth is estimated at $45 million.
7. Adebayo Shittu – $40 Million
Barrister Adebayo Shittu is a well-educated lawyer from the Saki area of Oyo State. He served as Minister of Communications in Nigeria. He was a member of the State House of Assembly from 1979 to 1983.
Key Wins:
- Former Minister of Communications
- Former member Oyo State House of Assembly (1979-1983)
- Senior lawyer and legal consultant
- Political strategist
Major Business Deals:
- Legal practice and consulting
- Real estate investments
- Telecommunications sector advisory
- Political consulting
- Property development
Properties & Assets:
- Law firm facilities and assets
- Real estate across Nigeria
- Telecommunications investments
- Properties in Oyo and Abuja
- Government pensions
2025 Highlights: Ladoja appointed him Attorney General and State Commissioner. He contributed to policy formulation for UPN administrations in southwestern states. His net worth is estimated at $40 million.
8. Monsurat Sunmonu – $35 Million
Senator Monsurat Olabisi Sunmonu is one of the richest women in Oyo State with significant wealth, power, and influence. Born on April 9, 1959, to Oyo royal heritage, she is currently serving as Senator for Oyo Central Senatorial District.
Key Wins:
- Current Senator representing Oyo Central
- Born into Oyo royal family
- Successful businesswoman
- Political influencer
Major Business Deals:
- Real estate development
- Trading and commerce
- Political investments
- Property holdings
- Import and export businesses
Properties & Assets:
- Real estate in Oyo and Abuja
- Commercial properties
- Trading company assets
- Luxury properties
- Government benefits
2025 Highlights: She finished her education at Children Boarding Grammar School in Illora and Olivet Baptist High School. Her royal heritage combined with business success makes her one of Oyo’s richest people with an estimated net worth of $35 million.
9. Jumoke Akinjide – $30 Million
Senator Florence Jumoke Akinjide is a lawyer and politician. She served as Minister of State for Federal Capital Territory from 2011 to 2014. She is from Ibadan and has made significant contributions to Nigerian politics.
Key Wins:
- Former Minister of State for FCT (2011-2014)
- Former Senator from Oyo Central
- Lawyer and legal practitioner
- Political influencer
Major Business Deals:
- Legal practice and consulting
- Real estate investments
- Political advisory services
- Property development
- Business consulting
Properties & Assets:
- Real estate across Nigeria
- Law practice assets
- Properties in Ibadan and Abuja
- Investment portfolios
- Government pensions
2025 Highlights: Jumoke Akinjide is one of the prominent female politicians from Oyo State. Her legal career and political positions have helped her build wealth estimated at $30 million.
10. Babajide Agunbiade – $25 Million
Dr. Babajide Agunbiade is recognized as one of the most accomplished offshore production specialists in the world. He is the CEO of Apha Energy Resources LLC and Midas Global Services. He is an engineer, investor, and businessman.
Key Wins:
- CEO of Apha Energy Resources LLC
- CEO of Midas Global Services
- Director at National Oilwell Varco
- World-renowned offshore production specialist
Major Business Deals:
- Apha Energy Resources LLC operations
- Midas Global Services
- Oil and gas engineering services
- Subsea production systems
- International energy consulting
Properties & Assets:
- Oil and gas service facilities
- Engineering company assets
- Real estate holdings
- International business operations
- Investment portfolios
2025 Highlights: Dr. Agunbiade is a subject matter expert in subsea production systems. He serves as Director for National Oilwell Varco, the world’s most successful oilfield equipment making firm. His net worth is estimated at $25 million.
Wealth Distribution Trends in Oyo State
The Top 10 Richest Men In Oyo State 2025 And Their Net Worth reveals interesting patterns about wealth creation in the region. Oyo State, with Ibadan as its capital, was once the center of the old Western Region. The state has produced many successful politicians and businessmen.
Key Observations:
- Politics remains the dominant wealth pathway
- Oil and gas sector provides high returns
- Banking careers create strong foundations
- Real estate is the most popular investment
- Education sector shows growing potential
The combined wealth of these ten people exceeds $1.2 billion. This shows the significant economic potential within Oyo State, with opportunities in politics, business, and professional services.
Frequently Asked Questions
Rasheed Ladoja is the richest man in Oyo State with a net worth of $750 million. The former Governor and Senator has built his wealth through politics, real estate investments, and various business ventures over several decades.
Seyi Makinde made his fortune through Makon Group, an oil and gas company he founded at age 29. His companies are valued at over N48 billion ($104 million). He was already a wealthy businessman before becoming governor in 2019.
The main wealth-making sectors include politics, oil and gas, banking, real estate, education, and law practice. Many wealthy people from Oyo have built fortunes through political careers combined with business investments.
Yes, Seyi Makinde is a billionaire in Naira terms. He publicly declared assets worth over N48 billion in 2019 when he became governor. In dollar terms, his net worth is estimated at $104 million.
Ibadan was once the largest city in West Africa and remains a major commercial center. The city is home to the University of Ibadan (Nigeria’s first university) and has strong agricultural and trading traditions that support business growth.
Kola Daisi is known for founding Kola Daisi University, one of Nigeria’s best private universities. He made his wealth through banking at FCMB and as a Nigerian Stock Exchange expert before venturing into education.
Ibadan, the state capital, has the highest concentration of wealthy individuals. The ancient city’s commercial strength and political importance have created opportunities for wealth accumulation over generations.
Conclusion: Oyo State’s Economic Leadership
The Top 10 Richest Men In Oyo State 2025 And Their Net Worth shows the remarkable success stories from Nigeria’s “Pace Setter State.” From Rasheed Ladoja’s $750 million political and business empire to Seyi Makinde’s oil and gas success, these leaders have created significant value while contributing to Nigeria’s economic development.
Oyo State’s richest people are a mix of politicians, oil tycoons, bankers, lawyers, and entrepreneurs. Each contributes to the state’s economic and social development. Their success stories show how combining political influence with smart business investments can create lasting wealth in Southwest Nigeria.
What do you think about this ranking? Who deserves to be higher on the list? Share your thoughts about the Top 10 Richest Men In Oyo State 2025 And Their Net Worth in the comments below!
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