Bola Ahmed Tinubu's net worth and source of wealth

In Nigerian politics, Bola Ahmed Tinubu, AKA Jagaban, is feared by his foes and well-liked by his fans; this is probably due to his achievement and stance on politics.

Bola Tinubu, a Nigerian statesman, was born on the 29th day of March 1952. Following his journey in politics and the business world, Tinubu's net worth has increased sporadically, such that he is Nigeria's richest politician.

One of Tinubu's many achievements is being a major force that ended the PDP's 16-year dominance. Bola Ahmed Tinubu is a figure that cannot be overlooked in Nigeria's politics in the contemporary era.

That is why Tinubu has made a name for himself and eventually earned attention to highlight his net worth and source of wealth.

Tinubu's Biography

Asiwaju Bola Ahmed Adekunle Tinubu is the current Nigerian president. He was born in Lagos on the 29th of March, 1952 into the family of late Abibatu Mogaji, the Ìyál'ọ́jà of Lagos.

Tinubu obtained his primary education in St. John's Primary School, Aroloya and later moved to Children Home School in Ibadan. In 1975, Tinubu relocated to the United State to further his education.

Tinubu attended Richard J. Daley College in Chicago and studied accounting and management in Chicago State University.

While schooling as an undergraduate, Tinubu worked as a night security guard, a dishwasher, and a driver to support his education. He graduated with a CGPA of 3.54. 

Tinubu worked in Exxonmobil London before relocating to Nigeria to join Nigeria’s branch (Mobil producing Nigeria, now called Seplat Energy). He later left his job at mobile to join politics .

Bola Ahmed Tinubu's political career

Bola Ahmed Tinubu started politics in 1992 as a successful Lagos West senatorial candidate, running under the Social Democratic Party's banner.

After Sani Abacha dissolved the Senate in 1993, Tinubu joined the National Democratic Coalition movement and started advocating for the restoration of democracy.

Despite being compelled into exile in 1994, Tinubu returned after Abacha's death in 1998, which marked the beginning of the transition to civilian rule.

With a significant victory, Tinubu of the Alliance for Democracy defeated Dapo Sarumi of the People's Democratic Party and Nosirudeen Kekere-Ekun of the All People's Party in the first post-transition election for governor of Lagos State.

His two terms were characterized by his attempts to modernize the city of Lagos and his conflicts with the PDP-controlled federal government. He narrowly defeated PDP candidate Funsho Williams for re-election to a second term.

After leaving office in 2007, Tinubu continued to be one of Nigeria's most powerful politicians because his allies frequently held high positions in the southwest and because he was instrumental in the formation of the All Progressives Congress in 2013.

Tinubu made a formal announcement of contesting as the president of Nigeria on the 10th of January 2022.

On the 8th of June 2022, Tinubu won the APC party’s primary with 1,271 vote defeating Rotimi Amaechi who had 316 votes and Yemi Osinbajo who had 325 votes.

INEC declared Tinubu winner of the 2023 presidential election on the 1st of March, 2023 with a total vote of 8,794,726.

His opponents Atuku Abubarka of the people's Democratic party had a total vote of 6,984,520 and Peter Obi of Labour party had a total vote of 6,101,533.

Atuku Abubarka, Peter Obi, and Kwankwasonever accepted the result. This was because there were rumours of vote buying and attacks in some pulling unit.

Also, INEC officials did not upload the result from every polling unit in their result viewing portal as they initially assured.

Atuku Abubarka, Peter Obi, Kwankwaso, and the former president of Nigeria Olusegun Obasanjo called on INEC to re-run the election but INEC went ahead to announce Tinubu as the winner of the 2023 president election.

On the 29th of may 2023, Tinubu was sworn in as the President of Nigeria by Olukayode Ariwoola the Chief Justice of Nigeria in the inauguration ceremony that took place in Eagle square.

Tinubu announced the removal of fuel subsidy in his inaugural address. He added that the subsidy has cost the Nigerian government $10 billion per year.

The national labour union protested and called for a nationwide strike which was later suspended after negotiation with the federal government.

Tinubu suspended the governor of the central bank of Nigeria Godwin Emefiele on the 9th of June and appointed Folashodun Adebisi.

Following Godwin Emefiele’s suspension, he was arrested by SSS (Nigerian secret police) attempting to escape to Benin.

Still on the 9th of June, Tinubu suspended Abdulrasheed Bawa, the EFCC chairman and was also arrested by SSS (the Nigerian secret police) for abuse of office same day.

On the 16th of February, 2024, Tinubu appointed a new head of the Federal Housing Authority, Oyetunde Oladimeji Ojo, his daughter, Folashade’s husband. This sparked criticism among Nigerians but Tinubu ignored the critics.

Tinubu signed into law and brought back “Nigeria, We Hail Thee” the old national anthem to replace “Arise, O Compatriots” On the 29th of May, 2024.

Tinubu's career has long been controversial because of media reports of corruption and doubts about the accuracy of his personal history.

Tinubu's source of wealth

Asiwaju Bola Ahmed Adekunle Tinubu, the current president of Nigeria has made lots of money, gradually increasing his net worth from his business ventures and politics.

Before he became the president of Nigeria, he has been a two-term Governor of Lagos state.

Tinubu worked in Exxonmobil London before relocating to Nigeria to join Nigeria’s branch where he earned substantial amounts as his salary.

Tinubu allegedly owns lots of properties in and outside Nigeria some which he claims are his inheritance. These properties have contributed to Tinubu's net worth and wealth.

Tinubu has also been an entrepreneur long before he became the president of Nigeria with lots of businesses and companies scattered around the country adding to his wealth and net worth though he hasn't accepted ownership of some of them as earlier stated. Below are some of his businesses:

• Oriental Hotel
• Falomo Shopping Complex
• First Nation Airline
• Lekki Concession Company
• Apapa Amusement Park
• Maiyegun Land Project
• The Nation Newspaper
• Renaissance Hotel
• Tejuoso Market (Joint ownership)
• Ikeja Shopping Mall
• TV Continental

Tinubu's net worth

As earlier stated, after Tinubu had graduated from Chicago State University, he worked in the United States. Then, upon his return to Nigeria, he worked for ExxonMobil, which is believed to have helped increased his wealth.

In addition to his political career, Tinubu has always been a successful businessman. The politician is involved with a wide variety of international firms, such as Oando and others, which will be discussed in detail soon.

While Tinubu's net worth is said to be largely due to his business's success, it is also important to note that part of Tinubu's net worth is from his involvement in politics having served as Governor of Lagos for two terms and is now the president of Nigeria. Tinubu's net worth in dollars is estimated to be about $8.4 billion.

Before serving as the Governor of Lagos State and coming out of office, Tinubu had always been tagged as extraordinarily wealthy. Still, nobody seems to be aware of how he acquired his wealth.

Tinubu undoubtedly owns companies in various industries, including agriculture, hospitality, media, oil and gas, and real estate.

Even though he denied rumours that he was the owner of a good list of companies, he has acknowledged ownership of some of them and is also reputed to invest his money in blue-chip company stocks.

Bola Ahmed Tinubu's houses

It is alleged that Tinubu has multiple mansions in Lagos State, Abuja, and other nations, including the United States of America and the United Kingdom. But most notable is his Ikoyi mansion, estimated to be worth N650 million.

Bola Ahmed Tinubu's cars and private jet

Tinubu enjoys luxury in the same way that every other politician does. In addition to his lavish mansions, Tinubu owns a fleet of luxury vehicles and a private jet. In fact, recently, Nigerian government purchased him a luxurious Airbus A330 worth over $100.

You are probably very curious about the total number and value of his automobile collection; here's the list of some of the cars that Tinubu allegedly owns and their worth.

• Mercedes G-wagon worth N600 million
• Toyota Prado SUV worth about ₦165 million.
• Lexus worth around ₦110 million
• BMW worth around N300 million
• Ford worth around N110 million 
• Porsche worth about N37 million

Tinubu's controversies

Tinubu has been accused of money laundering, corruption, and operating numerous bank accounts both in Nigeria and abroad but he keeps dismissing all accusations.

In April 2023, Tinubu was accused of holding dual citizenship after Guinean passport with his details went viral on social media. The viral passport sparked criticism as it's against the Nigerian constitution.

Just recently the Nigerian government bought a luxurious Airbus A330 worth about $100 million for President Tinubu amidst the economic crisis leading to widespread criticism.

Tinubu's health has also been questioned. Tinubu reportedly appeared sick with a slurred speech while addressing Nigerians in one of his public speeches.

It was also rumoured that he almost fell down in one of his official outings. But Tinubu has debunked all these rumours claiming to be sound and healthy.

1st August, 2024, Nigerians took to street and protested against hardship and high cost of living in the country. They demanded reduction in the price of fuel, electricity bill, and more.

In an address by president Tinubu concerning the protest, he advised Nigerians not to let violence separate the nation.

He said in his speech;

“My dear Nigerians, especially our youth, I have heard you loud and clear. I understand the pain and frustration that drive these protests, and I want to assure you that our government is committed to listening and addressing the concerns of our citizens, but we must not let violence and destruction tear our nation apart,”

Tinubu also added;

“I hereby enjoin protesters and the organisers to suspend any further protest and create room for dialogue, which I have always acceded to at the slightest opportunity,”

The protest (#EndBadGovernance) which claimed several lives started on the 1st of August 2024 and ended on the 10th of August 2024.