Richest Politicians in Ondo State and their Net Worth

Richest politicians in ondo state

Introduction

Politics in Nigeria has always been closely tied to wealth and influence. Across the 36 states of the federation, political figures often rise to prominence not only through governance but also through financial power. Ondo State, located in the southwestern part of Nigeria, is no exception. Over the years, the state has produced leaders who have gone beyond political recognition to become some of the wealthiest individuals in the region.

The subject of richest politicians in Ondo State net worth continues to spark curiosity among citizens, analysts, and observers of Nigerian politics. Many wonder how these politicians built their fortunes, what businesses they control, and how their wealth influences governance and society.

In this detailed article, we will examine the top wealthy politicians in Ondo State, breaking down their net worth, businesses, political careers, and sources of income. By the end, you will have a clear picture of the political-financial landscape of Ondo State in 2025.

Understanding Net Worth in Politics

Before highlighting the richest politicians in Ondo State, it is important to understand what “net worth” means in this context.

Net worth is the total value of assets minus liabilities. For politicians, this typically includes:

Assets: real estate, businesses, vehicles, shares, investments, and properties.
Income Sources: salaries, allowances, business profits, dividends, and other legitimate earnings.
Liabilities: loans, debts, or other financial obligations.

In Nigeria, determining the exact net worth of politicians is difficult due to limited transparency, under-declaration of assets, and sometimes exaggerated media claims. However, through available information, visible properties, business ownership, and credible reports, reasonable estimates can be made.

Richest Politicians in Ondo State Net Worth (2025 Rankings)

Ondo State has several wealthy political figures. Below is a breakdown of the most prominent names, their wealth estimates, and the sources of their fortunes.

1. Jimoh Ibrahim – The Business Mogul Politician

Estimated Net Worth: $500 million – $600 million (₦600 billion – ₦720 billion)

Jimoh Ibrahim stands as the wealthiest politician in Ondo State and one of the richest in Nigeria. A lawyer, businessman, and politician, Ibrahim built his empire long before entering the Senate.

Political Career: He is the current Senator representing Ondo South.
Business Ventures: Founder of Global Fleet Group with interests in insurance, oil and gas, real estate, hospitality, and media.
Wealth Drivers: Diversified investments across multiple sectors.
Lifestyle: Known for luxury cars, hotels, and expansive properties across Nigeria and abroad.

Ibrahim’s dominance in both politics and business makes him a strong contender for the title of richest politician in Ondo State net worth in 2025.

2. Olusegun Mimiko – The Respected Former Governor

Estimated Net Worth: $50 million – $60 million (₦60 billion – ₦72 billion)

Olusegun Mimiko, popularly known as “Iroko,” is a two-term governor of Ondo State. His political career and influence earned him both wealth and recognition.

Political Career: Governor of Ondo State (2009–2017), Minister of Housing and Urban Development, and Commissioner for Health.
Wealth Sources: Real estate investments, consultancy, allowances from political offices, and strategic partnerships.
Lifestyle: Maintains a modest but comfortable lifestyle compared to some peers.

Mimiko is respected for his grassroots politics and remains one of the wealthiest figures in Ondo State.

3. Rotimi Akeredolu – The Legal Luminary Turned Governor

Estimated Net Worth: $300 million – $400 million (₦360 billion – ₦480 billion)

Late Governor Rotimi Akeredolu (SAN) was a key figure in Ondo politics until his passing in 2023. His wealth came from a combination of law practice, governance, and investments.

Political Career: Governor of Ondo State (2017–2023), Attorney General of Ondo, and President of the Nigerian Bar Association.
Business Interests: Law firms, real estate, and political entitlements.
Legacy: Known for his forthright leadership and investments in infrastructure.

Though late, his financial legacy continues to place him among the richest politicians in Ondo State net worthrankings.

4. Lucky Orimisan Aiyedatiwa – The Current Governor

Estimated Net Worth: $8 million – $12 million (₦9.6 billion – ₦14.4 billion)

As of 2025, Lucky Aiyedatiwa is the sitting Governor of Ondo State. His rise from deputy governor to governor has also increased interest in his wealth.

Political Career: Former deputy governor, acting governor, and now substantive governor.
Business Background: Involved in trading, real estate, and private investments before politics.
Lifestyle: Relatively modest compared to wealthier peers, though he owns properties and luxury vehicles.

His political journey and financial success ensure his inclusion in this list.

5. Other Influential Politicians in Ondo State

Apart from the top figures above, other politicians in Ondo State also have considerable wealth, though not as massive.

Agboola Ajayi (Former Deputy Governor): Estimated at $5 million – $8 million from politics, business, and real estate.
Senators and Representatives: Many earn significant wealth through salaries, allowances, and external businesses, often ranging between $2 million – $10 million.

Factors Contributing to Political Wealth in Ondo State

Several factors explain why Ondo State politicians are wealthy:

Business Ventures: Most had thriving businesses before entering politics.
Real Estate: Investment in land and property provides lasting wealth.
Political Office Benefits: Salaries, allowances, and perks boost financial stability.
Networks and Influence: Access to contracts, partnerships, and connections creates wealth-building opportunities.
Diversification: Successful politicians spread investments across multiple industries.

Challenges in Estimating Net Worth

While discussing the richest politicians in Ondo State net worth, it is crucial to acknowledge difficulties in accuracy:

Lack of transparent asset declaration.
Inflated or understated media reports.
Hidden business interests under proxies.
Fluctuating currency values affecting dollar estimates.

Lifestyle and Assets of Ondo’s Richest Politicians

Ondo’s wealthy politicians are known for certain lifestyle patterns:

Luxury Properties: Homes in Akure, Lagos, Abuja, and abroad.
Automobiles: SUVs, official convoys, and high-end vehicles.
Businesses: Hotels, oil companies, farms, and real estate projects.
Philanthropy: Scholarships, community projects, and charitable donations.

Public Perception and Criticism

The wealth of politicians often sparks public debate. Citizens sometimes question how politicians amass fortunes within short periods, especially when poverty remains widespread. Demands for asset transparency, accountability, and anti-corruption measures remain strong in Ondo and Nigeria at large.

Summary Table of Richest Politicians in Ondo State (2025)

Politician	Estimated Net Worth (USD)	Major Income Sources	Political Roles
Jimoh Ibrahim	$500m – $600m	Insurance, oil & gas, real estate, media	Senator, businessman
Olusegun Mimiko	$50m – $60m	Real estate, consultancy, politics	Former Governor
Rotimi Akeredolu (late)	$300m – $400m	Law practice, real estate, politics	Former Governor, SAN
Lucky Orimisan Aiyedatiwa	$8m – $12m	Real estate, business, politics	Current Governor
Agboola Ajayi	$5m – $8m	Real estate, politics	Former Deputy Governor

Conclusion

The landscape of richest politicians in Ondo State net worth reflects the close connection between politics and wealth in Nigeria. While business ventures and real estate play significant roles, political offices provide influence and access that help consolidate fortunes.

Among the richest, Jimoh Ibrahim tops the list with his diversified business empire, while others like Olusegun Mimiko, Rotimi Akeredolu, and Lucky Aiyedatiwa follow with notable wealth and influence. Despite criticism, these figures remain central to Ondo’s political and financial environment.

Frequently Asked Questions (FAQs)

1. Who is the richest politician in Ondo State in 2025?
Jimoh Ibrahim is widely regarded as the richest politician in Ondo State with an estimated net worth of $500–$600 million.

2. How did Jimoh Ibrahim make his wealth?
He made his wealth through diversified businesses, including oil and gas, insurance, real estate, hospitality, and media.

3. What is Olusegun Mimiko’s estimated net worth?
Mimiko’s net worth is estimated at $50 million – $60 million, derived from political service, real estate, and business ventures.

4. Is Lucky Orimisan Aiyedatiwa wealthy?
Yes, as of 2025, he is estimated to be worth between $8 million and $12 million, with income from politics and business.

5. How much was Rotimi Akeredolu worth before his death?
His net worth was estimated between $300 million and $400 million, with wealth from law practice, politics, and real estate.

6. Are Ondo politicians richer than politicians in other states?
Some Ondo politicians are very wealthy, but compared to states like Lagos or Rivers, their wealth is relatively moderate.

7. What businesses do Ondo politicians invest in?
They commonly invest in real estate, oil and gas, insurance, hospitality, farming, and consultancy.

8. Why are Nigerian politicians so wealthy?
Wealth often comes from a combination of private business, political perks, influence, and strategic investments.

9. Do Ondo politicians engage in philanthropy?
Yes, many of them fund scholarships, build community projects, and contribute to religious and cultural causes.

10. Is the net worth of politicians in Ondo State publicly declared?
Not fully. While laws require asset declaration, the information is often not accessible to the public, leading to speculation.