The wealthiest individuals from Ogun State are primarily billionaires, with many recognized by Forbes as among Nigeria’s richest. Their financial portfolios, encompassing investments, assets, luxury vehicles, mansions, and shares, amount to millions of dollars, creating a stark contrast when compared to those from other states. The richest men in Ogun include politicians as well as successful businesspeople and entrepreneurs.
Ogun State is recognized as one of Nigeria’s most industrialized regions, following Lagos. Its proximity to Lagos, the nation’s commercial hub, significantly contributes to its economic standing. Additionally, Ogun State serves as an industrial center, generating substantial revenue for both the state and the country. Situated in the southwestern geopolitical zone of Nigeria, it is also home to numerous natural and human resources.
Many successful Ogun State natives have achieved remarkable success in their respective fields, amassing considerable wealth. Below is a list of the top 10 richest men in Ogun State, detailing their current net worth as of 2025.
List of Top 10 Richest Men in Ogun State & Net Worth 2025
The following are the wealthiest individuals from Ogun State, ranked by their assets and net worth:
- Mike Adenuga Net Worth – $5.7 billion
Mike Adenuga is undeniably the richest man from Ijebu, Ogun State, and Nigeria’s second wealthiest individual, consistently recognized as a billionaire by Forbes. He boasts extensive investments and is the owner of GLOBACOM, Nigeria’s largest indigenous telecommunications company. Adenuga, who hails from Ijebu-Igbo, holds a degree in business administration from Pace University, New York. He is also the owner of CONOIL, one of the largest downstream oil and gas companies in Nigeria. - Olusegun Adebutu Kessington Net Worth – $900 Million
Olusegun Adebutu has a net worth exceeding $900 million. An alumnus of the prestigious University of Ibadan, where he studied Economics, he is an entrepreneur with interests spanning entertainment, shipping, agribusiness, oil and gas, transportation, and real estate. His company, Petrolex Oil and Gas, is currently constructing the second-largest petroleum refinery in sub-Saharan Africa. Adebutu’s father, Kensington Adebutu, founded Premier Lotto Nigeria Limited, famously known as “Baba Ijebu.” - Michael Olasubomi Balogun Net Worth – $700 Million
Michael Olasubomi Balogun’s net worth is estimated at $700 million. The founder of FCMB, he is also a prominent philanthropist and influential figure from Ijebu Ode. Balogun studied law at the London School of Economics and made significant contributions to the banking sector. He holds various titles, including Olori-Omoba of Ijebu and Asiwaju of Ijebu Christians. - Tajudeen Afolabi Adeola Net Worth – $550 Million
Tajudeen Afolabi Adeola is listed among Nigeria’s top 10 richest Yoruba individuals. As one of the founders of Guaranty Trust Bank (GTB), he has extensive investments and has served as chairman for numerous companies, including UTC and Eterna Oil. His foundation, FATE, established in 2000, aims to alleviate poverty in Nigeria. - Oba Otudeko Net Worth – $500 Million
Oba Otudeko is a renowned businessman from Ogun State and is the founder of Honeywell Group. With a net worth estimated at $500 million, he previously served as a director on the Board of the Central Bank of Nigeria and has extensive experience in the financial sector. - Kensington Adebutu Net Worth – $495 Million
Kensington Adebutu, from Iperu-Remo, is the owner and CEO of Premier Lotto Nigeria Limited. His company, known as Baba Ijebu, is valued at $1 billion on the Nigerian stock exchange. - Ibikunle Amosun Net Worth – $442 Million
Many recognize Ibikunle Amosun, a former governor and current senator representing Ogun Central, as one of Ogun’s wealthiest politicians. An accountant by profession, his political career has significantly contributed to his wealth. - Sulaiman Adebola Adegunwa Net Worth – $400 Million
Sulaiman Adegunwa is among Nigeria’s top 50 billionaires, with a net worth of $400 million. The founder and CEO of Eassy Holding Limited, he began his career in photography and has since expanded into real estate and other ventures. - Olusegun Obasanjo Net Worth – $350 Million
Olusegun Obasanjo, a former president of Nigeria, remains one of the wealthiest individuals from Ogun State, with a net worth of approximately $350 million. A prominent farmer, he owns Otta Farm in Abeokuta, which is one of Nigeria’s largest farms. - Dapo Abiodun Net Worth – $310 Million
Dapo Abiodun, the current governor of Ogun State, is also among the wealthiest individuals in the state. He has a background in business and previously served as managing director of Heyden Petroleum.
Conclusion
These ten individuals represent the wealthiest men in Ogun State as of 2025, ranked by their assets and investments. While many other affluent individuals exist, these men stand out, with several being featured on Forbes’ lists.
