This post is about the net worth of Bola Ahmed Tinubu, a one time former governor of Lagos state and senator of the Federal Republic of Nigeria who is also known as “Jagaban”. We shall first take a look at Tinubu’s biography, before we delve into his net worth.
Bola Ahmed Tinubu Biography
His full names are Asiwaju Adekunle Ahmed Bola Tinubu. He was born on March 29, 1952. He attended St. John Primary School, Aroloya, Lagos and Children’s Home School in Ibadan. He earned himself a place in the honors list of Richard Daley College, Chicago Illinois and proceeded to Chicago State University Illinois where he obtained a bachelors degree in business administration. He graduated in 1979 and worked for America companies, Arthur Andersen, Deloitte, Haskin and Sells, as well as GTE Services Corporation.
Political Career of Bola Ahmed Tinubu
Tinubu started his political career in 1992 and was elected as a Nigerian senator. He was elected governor of Lagos State in 1999 to 2007. He is currently the national leader of the ruling party in Nigeria, All Progressive Congress (APC).
Tinubu’s Net Worth and Properties
According to constative.com These are the purported choice properties said to belong to the chieftain of APC and former Governor of Lagos State, Asiwaju Bola Ahmed Adekunle Tinubu.
1. The 1,000 hectares of land valued at about N75Billion located at Lakowe near Abijo at Ibeju-Lekki Local Government and given to Lekki concession company [LCC] which is partly-owned by Tinubu and Fashola and being developed as golf course and housing estate by Assets and Resource Management Ltd [ARM] as ADIVA project.
2. The prime land of 157 hectares with 2.5km of Atlantic beachfront valued at about N10Billion.
3. He paid $20Million [N4.4Billion] to Ibukun Fakeye to commence the project in late 2006. Fashola was said to have released additional funding for this project when he was in power as Lagos State Governor.
4. The 14 hectares Parkview Ikoyi Estate foreshore land reclaimed by Lagos State Government is also believed to be owned by Ahmed Bola Tinubu and its valued at N3Billion.
5. The Annex of the Lagos State Guest House in Asokoro, Abuja bought by the State Government in 2006 for N450Million to protect the main house from security breach. Shortly after he left office, the property was transferred to him under the Lagos State pension plan as part of his pension as former governor of Lagos State.
6. 4, Oyinkan Abayomi [formerly Queens] Drive, Ikoyi; A 5- bedroom detached house on one acre of land which was originally the Lagos State Governor’s guest house since 1979 was acquired by Ahmed Bola Tinubu. The property valued at N450Million was signed and released to him by Fashola in 2007 shortly after Fashola assumed office.
7. Tinubu’s residence at 26Bourdillon Road, Ikoyi is said to worth over N1.5 Billion which is also part of his net worth.
8. The 250-hectares of land valued at about N35Billion and strategically located at the Ajah junction on Lekki Road which was initially meant for a General Hospital for the people of Eti-Osa is now the property of Tinubu currently in the control of Trojan Estate Ltd, a company owned by Tinubu. The property has been developed as Royal Garden Housing Estate and now worth over 200Billion.
9. Tinubu also owns some first class luxury cars, one of them is G-Wagon said to worth N600 Million and built with bullet proof and bomb detector apparatus as well as surveillance cameras.
10. He also acquired for himself sophisticated private jet worth $60Million.
11. The choice property at Lekki- Epe road on which he built the multi- billion naira Oriental Hotel and the extension of a multi storey car park beside it is said to worth N120Billion together with the hotel.
12. A Multi-level recreation center by Mobil in Oniru Estate on Lekki-Epe Expressway jointly owned with ARM and Tunji Olowofe is said to worth N25Billion.
13. Another 3.8 hectare of land at the Lagos State Fisheries Office in Victoria Island valued N3Billion is also his property.
14. The Fishery Landing jetty at Badore [where the Ilubirin fishermen were to be relocated] valued at N500Million is another choice property of Mr Tinubu.
15. The entire Ogudu foreshore scheme valued at N5Billion. Adding to the Bola Ahmed Tinubu Net Worth.
16. The Ilubinrin housing estate [which used to house Lagos State civil servants and judges up till 2007. This housing estate is worth N2.5Billion has been since acquired by Mr. Bola Ahmed Tinubu.
17. The former Julius Berger yard at Oko Orisan, Epe valued at N450Million.
18. Tinbu’s wife, Remi Tinubu, built the massive New Era foundation youth camp at the junction of Eleko, off the Lekki-Epe express road which is also part of Tinubu’s wealth.
19. TVC Radio Continental is owned by Bola Ahmed Tinubu as part of his media investments. These two media outfits is valued at N2.6Billion.
20. Oando Oil which is manged by his younger brother, Wale Tinubu is in reality owned by Bola Ahmed Tinubu himself. This oil and gas company with revenue of ₦449.8 Billion and total equity of ₦162 Billion is the largest indigenous oil company in Nigeria.
With shares and interest in hundreds of other businesses and interests, Bola Ahmed Tinubu Net Worth is estimated to be N10Trillion making him probably the richest politician in Nigeria after General Ibrahim Babangida.
Update: According to Dailypost, Tinubu lost his first son, Mr. Jide Tinubu to the cold hands of death after the later slumped and died of a heart attack on Nov 1, 2017