Top 10 Richest Men In Lagos State (2023)

Lagos state is the former capital territory of Nigeria and is currently the commercial capital of Nigeria. Arguments have lingered on if truly there are natives and indigenes of Lagos state, that’s a story for another day. For the purpose of this article, we will work with only facts.

Lagos state is a Yoruba state in southwest Nigeria. Lagos State has produced some of the richest and most successful people both in Yoruba Land and Nigeria at large. Unsurprisingly, billionaires from Lagos state cut across diverse careers, ranging from business, corporate world to Politics.

Richest People in Lagos State

The richest people in Lagos, are some of the biggest and most popular entrepreneurs, Corporate men, and politicians in Nigeria. In most of the richest lists in the states, politicians are found there because politics is one of the easiest ways to be rich in Nigeria and some of the richest people in Nigeria are politicians.

So, do not be amazed when you find politicians on the list of richest men and people in Lagos state. Below, I listed the richest billionaires in Lagos State.

1. Femi Otedola

Femi Otedola is rated the richest man in Lagos, Nigeria with a net worth estimated at $1.8 billion. The oil magnet is the son of the former Lagos state governor. Femi is a renowned businessman and philanthropist who is also known for his luxurious lifestyle. He was a former chairman of Forte Oil Plc. He is the founder of Zenon Petroleum and Gas Ltd. His business activities also span across Real estate, shipping, finance, and energy. His state of origin might be argued as he was born in Ibadan, Oyo state. However, the Otedolas calls Lagos home. He is indeed the richest man in Lagos state.

2. Folorunso Alakija

The richest woman in Lagos, Folorunso Alakija is one of the richest people from Lagos state. The billionaire businesswoman is estimated to be worth $1 billion. She is an investor in Nigeria’s oil and gas industry. Her oil firm Famfa oil is a licensed explorer of OPL 216 oil well. Madam Alakija is also into real estate, fashion businesses. She is the wealthiest woman in Lagos and by extension the country.

3. Bola Tinubu

Another Lagosian who made the list of richest men in Lagos is former Lagos state governor, Bola Ahmed Tinubu. Jagaban as he is popularly called is one of the biggest politicians in Nigeria. He has stayed very active in Nigerian politics since the return of Democracy in 1999. He is no doubts one of the richest people in Lagos. He is also a media investor and owns a top television station in Nigeria, Television Continental (TVC).

We could not calculate his net worth because he is a politician and Nigeria politics is one of the fastest ways to acquire wealth in Nigeria. He is highly influential and regarded in Lagos.

4. Adewale Tinubu

Adewale Tinubu, a relative of Bola Tinubu, Lagos state former governor is among the Lagos State wealthiest billionaires. He is a lawyer and businessman. Adewale is the group chief executive of Oando Plc, a top and renowned oil company in Nigeria. He as well co-founded Ocean & Oil Group an oil trading firm in Nigeria. 

5. Olujimi Kolawole Agbaje

Jimi Agbaje as he is popularly known is a Lagos state renowned pharmacist and politician. He is the CEO of JAYKAY pharmaceutical and chemical company Nigeria Limited. JK as he is also called is a philanthropist and has contested for Lagos state governorship position twice, in 2015 and 2019 respectively. We regard him as one of the richest men in Lagos state.

6. Segun Agbaje

Segun Agbaje who is brother to Jimi Agbaje, Lagos state politician and pharmacist is in the league of wealthiest millionaires from Lagos state. He is the managing director of Guaranty Trust Bank, one of the leading commercial banks in Nigeria. The highly respected banker is also the director of PepsiCo.

He equally is a member of the Mastercard Advisory Board, Middle East, and Africa. He is one of the richest CEOs in Nigeria and one of Lagos state’s billionaires.

7. Musiliu Obanikoro

Musiliu Obanikoro is a top politician from Lagos state who has served in Nigeria senate. He is also former Nigeria High Commissioner to Ghana as well as minister of state for defense. He is wealthy and being a renowned politician, we assume he made most of his wealth while in public office. His tenure as minister of defense had him fingered in corruption charges.

8. Sen. Remi Tinubu

Remi Tinubu is the wife of former Lagos state governor, Bola Tinubu. She is the longest-serving senator from Lagos state. Senator Remi Tinubu since her journey to red chamber has headed and worked in some of the biggest and most juicy senate committees. She is one of the biggest female politicians in Nigeria. We also rate her one of the richest people in Lagos state.

9. Akinwumi Ambode

Born on June 14th, 1963, Akinwunmi Ambode was the formal Governor of Lagos State, Nigeria. For 27 years, he worked as a government servant and as a financial consultant before he ran for office as Governor of Lagos State in 2015. He stood for governor of Lagos State in April 2015 as a member of the ruling party, the All Progressives Congress. He narrowly defeated the People Democratic Party’s Jimi Agbaje, who came in second, by 150,000 votes.

On May 29, 2015, he took office as Lagos’ governor, succeeding outgoing governor Babatunde Fashola. As a result of Ambode’s loss in the 2019 gubernatorial primary election, he was denied the right to seek for another term. Ultimately, he backed Babajide Sanwo-campaign, Olu’s which led to a seamless transition in Oyo.

10. Babajide Sanwo

A Nigerian politician, Babajide Olusola Sanwo-Olu (born June 25, 1965) is the Governor of Lagos State. University of Lagos graduate, he has also attended the London Business School and the John F. Kennedy School of Government.



The popular Lagos state today in Nigeria is inhabited by people from various ethnic groups, from the various races of life. So from these diversities, we have drawn out the richest men that currently reside and make Lagos abode. So, on the list are a notable politician and business moguls. So that is all we have for you.