Lagos State, Nigeria's economic powerhouse, has long been a breeding ground for influential politicians who have not only shaped the state's political landscape but have also amassed significant wealth. As of 2025, several Lagos-based politicians stand out for their substantial net worths, accrued through public service, business ventures, and strategic investments. This article delves into the top 10 richest politicians in Lagos State, highlighting their careers, estimated net worths, and the sources of their wealth.
1. Bola Ahmed Tinubu – Estimated Net Worth: $1.4 Billion
Bola Ahmed Tinubu, often referred to as the "Jagaban of Lagos," is the current President of Nigeria and a former Governor of Lagos State (1999–2007). His political journey began in the early 1990s, and he has since become a central figure in Nigerian politics. Tinubu's wealth is attributed to his extensive investments in real estate, media, and energy sectors. Notably, he owns properties in Lagos, Abuja, the UK, and the US, and possesses a private jet.
2. Babatunde Raji Fashola – Estimated Net Worth: $448 Million
Babatunde Fashola served as the Governor of Lagos State from 2007 to 2015 and later as the Minister of Power, Works, and Housing. A lawyer by profession, Fashola is known for his infrastructural developments in Lagos. His wealth stems from his legal career, political appointments, and investments in real estate and consultancy services .
3. Akinwunmi Ambode – Estimated Net Worth: $1 Million
Akinwunmi Ambode was the Governor of Lagos State from 2015 to 2019. Before his governorship, he had a distinguished career in the civil service, culminating as the Accountant General of Lagos State. Ambode's wealth is primarily from his public service career and investments in finance and real estate .
4. Femi Hamzat – Estimated Net Worth: $5 Million
Femi Hamzat has been serving as the Deputy Governor of Lagos State since 2019. An engineer by training, Hamzat has held various positions in both the private and public sectors, including Commissioner for Science and Technology. His wealth is derived from his engineering career, political roles, and investments in technology and infrastructure .(Celebrity Birthdays)
5. Oluremi Tinubu – Estimated Net Worth: $800 Million
Oluremi Tinubu, the First Lady of Nigeria, served as the Senator representing Lagos Central from 2011 to 2023. She is known for her philanthropic activities and advocacy for women's rights. Her wealth comes from her political career, public speaking engagements, and investments in education and social enterprises .
6. Oluranti Adebule – Estimated Net Worth: $5 Million
Oluranti Adebule served as the Deputy Governor of Lagos State from 2015 to 2019 and is currently the Senator representing Lagos West. An educationist by profession, Adebule's wealth is attributed to her academic career, political roles, and investments in educational institutions .
7. Musiliu Obanikoro – Estimated Net Worth: $75 Million
Musiliu Obanikoro has held various political positions, including Minister of State for Defence and Ambassador to Ghana. He also served as a Senator representing Lagos Central. Obanikoro's wealth is derived from his political appointments, diplomatic roles, and investments in real estate and logistics .
8. Adeyemi Ikuforiji – Estimated Net Worth: $5 Million
Adeyemi Ikuforiji was the Speaker of the Lagos State House of Assembly from 2005 to 2015. His wealth comes from his legislative career, consultancy services, and investments in publishing and education .
9. Babajide Sanwo-Olu – Estimated Net Worth: $9 Million
Babajide Sanwo-Olu is the current Governor of Lagos State, having assumed office in 2019. Before his governorship, he held various positions in the banking sector and served as the Managing Director of the Lagos State Development and Property Corporation. His wealth is attributed to his banking career, political roles, and investments in real estate and finance .(Sell at Ease)
10. Ganiyu Solomon – Estimated Net Worth: $5 Million
Ganiyu Solomon served as the Senator representing Lagos West from 2007 to 2015. He has been involved in Lagos politics for decades, holding various positions at the local and state levels. His wealth is derived from his political career, consultancy services, and investments in agriculture and real estate .
Summary Table: Richest Politicians in Lagos State (2025)
| Rank | Name | Estimated Net Worth | Key Roles/Positions | Primary Wealth Sources |
|---|---|---|---|---|
| 1 | Bola Ahmed Tinubu | $1.4 Billion | President, Former Governor | Real Estate, Media, Energy |
| 2 | Oluremi Tinubu | $800 Million | Former Senator, First Lady | Politics, Education, Social Enterprises |
| 3 | Babatunde Raji Fashola | $448 Million | Former Governor, Minister | Law, Infrastructure, Real Estate |
| 4 | Musiliu Obanikoro | $75 Million | Former Minister, Senator | Diplomacy, Real Estate, Logistics |
| 5 | Babajide Sanwo-Olu | $9 Million | Governor | Banking, Real Estate, Politics |
| 6 | Femi Hamzat | $5 Million | Deputy Governor | Engineering, Technology, Infrastructure |
| 7 | Adeyemi Ikuforiji | $5 Million | Former Speaker, Lagos State House | Legislation, Publishing, Education |
| 8 | Ganiyu Solomon | $5 Million | Former Senator | Politics, Agriculture, Real Estate |
| 9 | Oluranti Adebule | $5 Million | Senator, Former Deputy Governor | Education, Politics |
| 10 | Akinwunmi Ambode | $1 Million | Former Governor | Public Service, Finance, Real Estate |
Conclusion
The political landscape of Lagos State is not only influential but also financially robust. The politicians listed above have leveraged their positions, expertise, and investments to amass significant wealth. Their contributions to the state's development and Nigeria's political evolution are noteworthy, reflecting a blend of public service and entrepreneurial acumen.
