Borno State, located in northeastern Nigeria, is not just known for its historic Kanem-Borno Empire and strategic role in Nigeria’s development—it’s also home to some of the wealthiest and most influential political figures in the country. These politicians have not only served the people in various governmental capacities but have also amassed wealth through smart investments in business, oil and gas, real estate, and other sectors.
In this detailed post, we examine the top 10 richest politicians in Borno State, their political careers, investments, and estimated net worth in 2025.
1. Mohammed Indimi – Estimated Net Worth: $500 Million
Mohammed Indimi is without a doubt the richest political figure with Borno roots, though he's more known for his business acumen than for holding public office. Born in Borno State, Indimi is the founder and chairman of Oriental Energy Resources, one of Nigeria’s leading indigenous oil exploration companies.
His company’s involvement in upstream oil production has earned him tremendous wealth. Indimi is also a philanthropist, supporting educational and social development in Borno and other regions through the Mohammed Indimi Foundation. With a net worth of about $500 million, he tops this list with a comfortable margin.
2. Kashim Shettima – Estimated Net Worth: $131 Million
Kashim Shettima currently serves as the Vice President of Nigeria under President Bola Ahmed Tinubu's administration. Born in Maiduguri, Borno’s capital, Shettima first rose to political prominence as the Commissioner of Finance and later served as Governor of Borno State from 2011 to 2019.
Known for his resilience during the peak of the Boko Haram insurgency, Shettima prioritized infrastructure and education, especially in IDP (Internally Displaced Persons) camps. Apart from his political earnings, he has investments in agriculture, real estate, and logistics, boosting his estimated net worth to around $131 million.
3. Ali Modu Sheriff – Estimated Net Worth: $50 Million
Ali Modu Sheriff is a seasoned politician and former Governor of Borno State, serving from 2003 to 2011. He later served as the National Chairman of the People's Democratic Party (PDP) and is known for being the first governor to serve two consecutive terms in Borno.
Sheriff’s financial base is tied not only to his time in politics but also to his business interests in oil, logistics, and telecommunications. His estimated net worth is said to be between $41 million and $50 million, making him one of the wealthiest former governors in Nigeria.
4. Mohammed Abba Gana – Net Worth: Undisclosed
Mohammed Abba Gana has had a long and impactful career in the civil service and politics. He served as a Federal Minister for the Federal Capital Territory (FCT) and held several other key positions, including Secretary to the Government of the Federation.
Although his exact net worth is not publicly disclosed, his decades-long career in federal administration and associated investments suggest significant personal wealth. He is respected for his technocratic leadership and contributions to governance.
5. Mele Kyari – Net Worth: Undisclosed
Mele Kyari is the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Corporation Limited (NNPC Ltd), a key player in Nigeria’s oil sector. A native of Borno State, Kyari has had a successful career in the petroleum industry, rising through the ranks at NNPC before assuming leadership.
Kyari is known for championing transparency in NNPC and playing a critical role in the Petroleum Industry Act (PIA). Though his net worth remains undisclosed, his position and industry influence place him high among Borno’s elite.
6. Babagana Monguno – Net Worth: Undisclosed
Major General Babagana Monguno (rtd.) is another heavyweight from Borno, having served as Nigeria's National Security Adviser (NSA) from 2015 until 2023. Before his political appointment, Monguno was a decorated military officer and strategist in the Nigerian Army.
Though not much is known about his business investments, Monguno's long service and advisory role in national security suggest substantial earnings and assets, especially in defense-related consulting and real estate.
7. Afakriya Gadzama – Net Worth: Undisclosed
Afakriya Gadzama is a former Director-General of the Department of State Services (DSS), Nigeria’s top domestic intelligence agency. A well-respected security expert, Gadzama hails from Borno State and has continued to be influential in national security matters even after leaving office.
He is also believed to be a major player in real estate and consulting, especially in the North-East. While his exact net worth is not disclosed, his status places him among the wealthiest Borno-born politicians and administrators.
8. Mohammed Daggash – Net Worth: Undisclosed
Mohammed Daggash is a respected businessman and political figure from Borno State. He has engaged in several private-sector ventures, including real estate, telecommunications, and retail. Though he has not held prominent public office recently, his background in both politics and business makes him a quiet but influential figure in the state.
His wealth is built on decades of business operations and discreet political affiliations, making him one of the state's wealthiest private-sector heavyweights.
9. Zaynab Alkali – Net Worth: Undisclosed
Zaynab Alkali is a celebrated novelist, academic, and a prominent intellectual from Borno State. Although she is not traditionally viewed as a politician in the conventional sense, her role in education policy-making and cultural diplomacy has brought her into the corridors of political influence.
She served as the Dean of the Faculty of Arts at Nasarawa State University and is involved in developmental projects across the North-East. Her income is likely sourced from academic grants, book royalties, and speaking engagements.
10. Prince Olomu – Estimated Net Worth: $10 Million
Prince Olomu is a relatively newer name in Borno’s political and business space but has made significant strides in wealth accumulation. With investments in hospitality, construction, and real estate, he has diversified his portfolio and made his mark in Maiduguri and Abuja.
Though not as politically active as others on this list, Olomu has served as an adviser and donor to several political campaigns and policies. His estimated net worth of $10 million puts him among Borno's elite.
Conclusion
Borno State's political elite showcases a mix of public service veterans, oil magnates, business moguls, and technocrats. While some have earned their fortunes through years in governance, others like Mohammed Indimi built empires in the private sector, later using their wealth to influence politics and governance.
Despite the challenges Borno has faced, especially from insurgency, these individuals have continued to invest in development and humanitarian efforts across the region. As 2025 unfolds, these politicians will remain instrumental in shaping the socio-political future of Borno and Nigeria at large.
