PHOTOS: Check Out The Richest King In Nigeria

The Olugbo of Ugbo Kingdom, HRM Frederick Obateru Akinruntan has emerged as the richest king in Nigeria according to Forbes rating.
 
Oba Akinruntan beat the Ooni of Ife, Oba Okunade Sijuade to emerge the wealthiest monarch in Nigeria.

According to Forbes magazine, Oba Akinruntan and Oba Sijuade were mentioned as one of the 5 wealthiest monarchs in Africa.

Forbes magazine recently listed them on their list of 5 wealthiest monarchs in Africa. Oba Akinruntan is rated to have an estimated net worth of $300 million while that of Oba Sijuade is place at not less than $75 million.

The Ooni of Ife has business interest in construction, property and oil while Oba Akinruntan is mainly into oil.
Oba Akinruntan is the founder of Obat Oil and he is said to own the largest petroleum depot ‎in Africa.

Oba Akinruntan started Obat Oil Company in Okitipupa, Ondo State in 1981 with a gas station which was to meet the needs of his immediate family and neighboring communities.

OBAT Oil has now grown to more than 50 gas stations across Nigeria.
His company also has one of the largest tank farms in Africa- a modern storage facility that has the capacity to store 65 million liters of petroleum products.
Aside the oil and gas business, Oba Akinruntan is also into real estate as he has choice buildings in London and across Nigeria including the landmark Febson Hotels and Mall in the Central Business District of Abuja

Oba Obateru Akinrutan became the Olugbo of Ugbo land, a small oil-rich community in Ondo state in 2009 and that was a prophecy comes true.
Beside his eye popping immense wealth, the respected traditional ruler is a man of cla$$, taste and style. He oozes sheer sophistication as he possesses arrays of luxury cars in his sprawling and magnificent palace.

He made history in 2012 when he emerged as the first black person to buy the 2014 model of Bentley which was made solely for Queen Elizabeth of England in the belief that other people would wait till 2014 to ride it. But Oba Akinruntan shocked all by buying the same version in 2012.

Oba Akinruntan also has a custom built 2012 Rolls Royce similar to that of Queen Elizabeth II.
And just as he has dazzled all on land, he is also dazzling people on water and this cannot be far-fetched. He was born and bred in a riverine area before he become a king of a riverine area where long before now there was no motorable road. They travelled by water thus his love for travelling on water.

Oba Akiruntan is alleged to control some of the most expensive yachts in the country.

He sits atop a business conglomerate with interests in petroleum, shipping, construction, fishery, tourism and hospitality, consultancy services and water purification and production.


Since his emergence as the king of Ugbo Kingdom, Oba Akiruntan’s eldest son, Prince Akinfemiwa Akinrutan, has been the managing director of the company while the king a$$umed post of the Chairman of the oil company.

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Posted: at 26-07-2015 09:57 PM (9 years ago) | Addicted Hero

OK seen

Posted: at 26-07-2015 10:08 PM (9 years ago) | Gistmaniac

''THE WORLD WERE SHOCKED AS THEY WATCH PRESIDENT BUHARI UNFOLD TO THE WORLD HIS DECISION TO ADMINISTER THE COUNTRY ON BASIS OF THE VOTING PATTERN IN THE LAST GENERAL ELECTIONS RATHER THAN ON EQUITY AS STIPULATED BY CONSTITUTION AND HIS OATHS OF OFFICE AS THE PRESIDENT OF NIGERIA''

Posted: at 26-07-2015 10:23 PM (9 years ago) | Gistmaniac

Omo, you wan kill me. 

Posted: at 27-07-2015 12:39 AM (9 years ago) | Upcoming

He must be into some kind of shady business…

Posted: at 27-07-2015 04:04 AM (9 years ago) | Gistmaniac

$300 million,what is their source of income? EFCC where una dey ?
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Maybe you can't read and understand the message before commenting, his the owner of ( OBAT OIL)  and as such he made his billions from his company.

Posted: at 27-07-2015 07:38 AM (9 years ago) | Gistmaniac

leave efcc out of this.... the guy made his money before becoming the king and why r you not calling efcc on folorunsho alakija...
@ benono, learn to think outside the box..... fool

Posted: at 27-07-2015 07:48 AM (9 years ago) | Newbie

He leads and others follow then.

Posted: at 27-07-2015 09:05 AM (9 years ago) | Newbie

Ok Ooooooooooo

Posted: at 27-07-2015 10:48 AM (9 years ago) | Upcoming

Nawaho

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Posted: at 27-07-2015 04:12 PM (9 years ago) | Addicted Hero