When you hear the word Lagos, what comes to your mind? For many, it’s the hustle, the bustling lifestyle, the yellow danfos, traffic that can keep you on the road for hours, and of course, money. Lagos is not just Nigeria’s commercial capital; it’s also home to some of the richest and most influential people in the country. But here’s the twist – many wealthy people who live in Lagos are not actually from Lagos. They are businessmen and women from other states who settled in Eko to grow their wealth.

Today, however, we’re not talking about “visitors.” We’re shining the spotlight on the true sons and daughters of Lagos State – those who have made their mark and are counted among the richest in Nigeria. These are the real omo Eko gangan, the ones whose roots run deep in Lagos soil. From billionaires in oil and gas to tycoons in real estate, finance, and entertainment, Lagos State has produced some truly remarkable personalities.

So, grab a chilled drink, sit back, and let’s take a fun but detailed tour into the lives and fortunes of the Top 10 Richest People from Lagos State.

1. Oba Rilwan Akiolu – The Wealthy Monarch of Lagos

When we talk about Lagos wealth, we cannot overlook the first citizen of the state, His Royal Majesty, Oba Rilwan Babatunde Osuolale Aremu Akiolu I, the Oba of Lagos. Beyond the cultural significance, Oba Akiolu commands enormous influence and resources.

Known for his flamboyant lifestyle, the Oba has investments in real estate, shares in blue-chip companies, and stakes in hospitality businesses. As the custodian of Lagos traditions and heritage, he is highly respected both within and outside the state. Some reports estimate his wealth in hundreds of millions of dollars, putting him on the list of the richest traditional rulers in Nigeria.

But beyond wealth, the Oba of Lagos is also a symbol of unity and pride for Lagos indigenes.

2. Mike Adenuga Jr. – Telecom and Oil Tycoon

Many people don’t know this, but Dr. Mike Adenuga, the founder of Globacom and Conoil, is a Lagos indigene. He was born in Ibadan but hails from Lagos State through his father.

Adenuga is one of Africa’s richest men, with a net worth estimated at over $6 billion. His telecom giant, Globacom, is Nigeria’s second-largest mobile operator, with millions of subscribers. He also owns Conoil Producing, a major player in Nigeria’s oil and gas industry.

What makes Adenuga’s story even more inspiring is his humble beginning. He worked as a taxi driver during his school days in the U.S. to support himself. Today, he is one of the biggest business moguls in Africa and one of the greatest exports of Lagos State.

3. Oba Saheed Elegushi – The Young, Stylish King

If you love luxury, then Oba Saheed Ademola Elegushi is someone you should know. Popularly known as the “stylish king”, Oba Elegushi of Ikateland is a young monarch who is not shy about displaying his wealth.

From exotic cars to royal mansions and investments in real estate and oil, the Elegushi kingdom thrives under his leadership. His estimated net worth runs into hundreds of millions of dollars, making him one of the wealthiest young kings in Nigeria.

Lagosians often joke that “Elegushi Beach alone can feed generations,” and they are not far from the truth. His investments in tourism and entertainment make him one of the most visible faces of Lagos royalty.

4. Femi Otedola – Business Mogul and Philanthropist

You cannot list wealthy Lagosians without including Femi Otedola. Though his name rings across Nigeria and beyond, his roots are firmly planted in Lagos State.

Otedola made his fortune in oil through Forte Oil (now Ardova Plc) and later diversified into power, finance, and shipping. He is also a major shareholder in Zenon Petroleum and has made strategic investments in the Nigerian energy sector.

Apart from business, Otedola is known for his philanthropic activities. Who can forget when he donated N5 billion to the Save the Children Foundation in 2019? That single act remains one of the largest charitable donations in Nigeria’s history.

With a net worth of over $1.5 billion, Otedola remains one of the richest and most respected figures from Lagos.

5. Oba of Ikorodu – Oba Kabiru Adewale Shotobi

Traditional rulers in Lagos are not just custodians of culture but also major power brokers in business. The Oba of Ikorodu, Oba Kabiru Shotobi, is one of them.

Apart from his royal status, Oba Shotobi has investments in real estate, hospitality, and land holdings across Lagos. His influence in Ikorodu – one of the fastest-growing parts of Lagos – has positioned him as a wealthy and respected monarch.

6. Aremo Segun Oniru – Real Estate and Development Tycoon

If you’ve ever heard of the Oniru family, then you already know they are one of the wealthiest royal families in Lagos State. Aremo Segun Oniru, a former Lagos State Commissioner for Waterfront Infrastructure Development, is a major player in real estate.

The Oniru family owns large tracts of land in Victoria Island, Lekki, and other prime locations in Lagos. Segun Oniru has leveraged this inheritance and built his wealth through real estate development, land sales, and investments.

He is easily one of the most influential figures in Lagos real estate, with his net worth running into hundreds of millions of dollars.

7. Oba Gbolahan Lawal – Oniru of Iruland

Speaking of the Oniru dynasty, let’s talk about the current Oniru of Iruland, Oba Gbolahan Lawal. Before becoming king, he served as Lagos State Commissioner for Agriculture and also as Commissioner for Housing.

Today, as a traditional ruler, Oba Lawal controls vast lands and properties in Iruland – which covers parts of Lekki, Victoria Island, and environs. These areas are among the most expensive real estate spots in Nigeria.

No doubt, the Oniru kingdom continues to be one of the wealthiest dynasties in Lagos.

8. Wasiu Ayinde Marshall (K1 De Ultimate) – Fuji Music Legend

Lagos State is not just about oil, gas, and real estate. The entertainment industry has also produced wealthy indigenes, and King Wasiu Ayinde Marshall (K1 De Ultimate) is one of them.

K1 is a Fuji music legend who has taken the indigenous Yoruba music genre global. Over decades, he has amassed wealth through music, shows, endorsements, and investments in real estate.

Apart from being a global Fuji ambassador, K1 is also an influential Lagosian, often performing at high-profile political and social events. His net worth is estimated in millions of dollars, making him one of the richest musicians from Lagos State.

9. Oba of Epe – Oba Shefiu Adewale

The ancient town of Epe has its own wealthy monarch, Oba Shefiu Adewale, the Olu-Epe of Epe Kingdom. His influence spreads across the town and beyond.

Epe is strategically located and is becoming a hotspot for industrial and residential development. As the custodian of land and tradition in the area, the Oba controls vast resources, making him one of the wealthy royal fathers in Lagos.

10. Folorunsho Coker – The Tourism Boss

Last but not least, we have Folorunsho Coker, popularly known as “Folly Coker”. He is the Director-General of the Nigerian Tourism Development Authority (NTDA) and a proud son of Lagos State.

Coker is not just a government official; he is also a businessman with interests in hospitality and entertainment. Over the years, he has played a major role in promoting Nigerian tourism and owns stakes in luxury businesses across Lagos.

He may not be a billionaire like Adenuga or Otedola, but his wealth, influence, and lifestyle put him comfortably among the richest Lagos indigenes.

Final Thoughts

Lagos is a land of wealth and opportunities, but it’s always refreshing to highlight those who are truly indigenes of the state. From business moguls like Mike Adenuga and Femi Otedola to royal fathers like Oba Akiolu and Oba Elegushi, and even entertainers like K1 De Ultimate – Lagos State has no shortage of wealthy sons and daughters.

Their stories remind us that Lagos is not just the city of hustle; it is also the land of success. So, next time you hear someone say, “Eko for show”, remember that behind the glitz, glamour, and traffic, Lagos is also producing billionaires and millionaires who are shaping Nigeria’s economy.