Kwara State, located in Nigeria's North Central region, is home to a number of wealthy and influential personalities who have made significant contributions to the state's economy and Nigeria at large. These individuals have earned their fortunes across various sectors including politics, religion, business, education, and entertainment. In this post, we take a detailed look at the top 10 richest men in Kwara State, highlighting their estimated net worth, sources of income, and the impacts they have made on society.
1. Senator Olubukola “Bukola” Saraki
Estimated Net Worth: $250 million
Bukola Saraki, a former Governor of Kwara State and ex-Senate President of Nigeria, stands tall as the richest man in Kwara. A trained medical doctor and a scion of the prominent Saraki political dynasty, Bukola amassed his wealth from banking, real estate, and politics. Before venturing into politics, he worked as an executive director at Société Générale Bank, founded by his father. His strategic investments in agriculture, oil and gas, and real estate have further cemented his financial standing. Bukola’s influence goes beyond Kwara, making him one of Nigeria’s most powerful politicians.
2. Prince Samuel Adedoyin
Estimated Net Worth: $200 million
Prince Samuel Adedoyin is one of Nigeria’s most respected industrialists and entrepreneurs. Hailing from Agbamu in Kwara State, he is the founder and chairman of the Doyin Group of Companies, which has interests in manufacturing, agriculture, real estate, hospitality, and finance. He started from humble beginnings as a trader in Lagos before building a business empire. His factories produce consumer goods such as soaps, toothpaste, and other household products. Adedoyin is also known for his philanthropic work and investments in education and healthcare in Kwara State.
3. Bishop David Oyedepo
Estimated Net Worth: $150 million
Born in Omu-Aran, Kwara State, Bishop David Oyedepo is a global figure in Christianity and the founder of Living Faith Church Worldwide, also known as Winners’ Chapel. He is reputed as the richest pastor in Africa, with wealth drawn from church operations, education, publishing, and media. His educational empire includes Covenant University and Landmark University, two of Nigeria’s leading private universities. Oyedepo’s influence spans across faith, education, and media, making him one of the most powerful figures in Kwara and Nigeria.
4. Governor Abdulrahman AbdulRazaq
Estimated Net Worth: $5 million
Governor Abdulrahman AbdulRazaq is the current Governor of Kwara State. Before his election in 2019, he was a businessman with interests in oil and gas, construction, and real estate. He is the founder of First Fuels Limited, one of the first indigenous oil marketing companies in Nigeria. AbdulRazaq comes from a wealthy family; his father, Alhaji AGF AbdulRazaq, was Nigeria’s first Minister of State for Transport. As governor, he has focused on infrastructure development and youth empowerment.
5. Abdulfatah Ahmed
Estimated Net Worth: $3 million
Abdulfatah Ahmed served as Governor of Kwara State from 2011 to 2019. He began his career in the banking sector before venturing into public service. As a financial expert, he worked with Guaranty Trust Bank and Societe Generale Bank before becoming Commissioner for Finance under Bukola Saraki. His business interests include real estate, consultancy, and agriculture. Though he has kept a low profile since leaving office, his wealth and influence remain significant in the state.
6. Professor Ibrahim Gambari
Estimated Net Worth: $3 million
Professor Ibrahim Gambari is a diplomat and academic born in Ilorin, Kwara State. He served as Nigeria’s Permanent Representative to the United Nations and was appointed Chief of Staff to President Muhammadu Buhari in 2020. His long-standing career in international diplomacy, academia, and consulting has earned him recognition and wealth. Gambari has taught at several universities around the world and has authored numerous publications in international relations. He is also the founder of the Savannah Centre for Diplomacy, Democracy, and Development.
7. Kunle Afolayan
Estimated Net Worth: $2.5 million
Kunle Afolayan is one of Nigeria’s most celebrated filmmakers and actors. Although he is more associated with Lagos due to his career, he hails from Kwara State. He is the son of the late Adeyemi Afolayan, a pioneer in the Nigerian film industry. Kunle has produced critically acclaimed movies such as “The Figurine,” “Phone Swap,” and “October 1,” which have won multiple awards. His production company, Golden Effects Pictures, is among the most respected in Nollywood. He also earns from endorsements, streaming rights, and brand collaborations.
8. Lai Mohammed
Estimated Net Worth: $2 million
Lai Mohammed is a seasoned lawyer, politician, and former Minister of Information and Culture. A native of Oro in Kwara State, he has been a major political voice within the All Progressives Congress (APC). Before his foray into politics, he co-founded a law firm and worked in corporate legal services. His income sources include political appointments, media consultancy, and legal practice. Lai Mohammed has remained a key figure in Kwara and national politics for over two decades.
9. Theophilus Bamigboye
Estimated Net Worth: $1.5 million
Brigadier General Theophilus Bamigboye (Rtd) is a former military administrator of Bauchi and Osun States and hails from Kwara. After his military career, he transitioned into business, with interests in agriculture, logistics, and security consulting. He is also involved in community development and has been active in politics. Though his fortune is relatively modest compared to others on this list, his influence and service record make him one of the most respected figures in Kwara State.
10. Emerging Entrepreneurs and Future Billionaires
Kwara State is seeing a surge in tech-savvy entrepreneurs, agricultural innovators, and young professionals who are fast building their empires. While they may not yet be listed among the state’s wealthiest, names like Olawale Ayilara (CEO of LandWey Investment), Akeem Lawal (Tech entrepreneur), and Faridah Adeyemi (in fashion and real estate) are worth keeping an eye on. These rising stars represent the next generation of wealth in Kwara State, with prospects in fintech, agribusiness, renewable energy, and digital media.
Final Thoughts
The economic landscape of Kwara State is shaped by a unique mix of politics, entrepreneurship, religion, and creative arts. The individuals highlighted in this post have not only amassed great wealth but have also contributed to societal development through philanthropy, job creation, and service. From Senator Bukola Saraki’s expansive investments to Bishop Oyedepo’s education empire, these figures reflect the potential that lies within Kwara when vision meets opportunity. As new industries emerge, the state is likely to witness even more wealth creators in the coming years.
