Oyo State is more than the seat of the old Oyo Empire or that sprawling city called Ibadan. It’s a place that’s given Nigeria some of its smartest entrepreneurs, elegant royal figures, and hardworking public servants. Today, we’re going to spill the tea on the Top 10 Richest Indigenes of Oyo State—people born and bred in Oyo, who have built fortunes across sectors like telecoms, energy, real estate, agriculture, governance, and more.

Think of this as your crash course in Oyo-opulence: from princesses to power brokers, monarchs to moguls. Make yourself comfy—this gist is loaded.

1. Dr. Mike Adenuga Jr.

Net Worth: ~$6.7 Billion
Sector: Telecom, Oil & Gas, Banking
Hometown: Ibadan

We kick off with the big boss: Dr. Mike Adenuga Jr. Oyo State’s pride and one of Africa’s richest men. He kickstarted Globacom, Nigeria’s second-largest telecom provider, and he also owns Conoil, a major player in oil and gas. His empire branches into banking and real estate too. Beyond the money, his foundation supports education and healthcare across West Africa.

2. Femi Otedola

Net Worth: ~$1.7 Billion
Sector: Energy, Finance, Investments
Hometown: Ibadan

From trading oil to powering Nigeria, Femi Otedola has built a serious fortune. Formerly chairman of Forte Oil (now Ardova), he now chairs Geregu Power Plc and holds stakes in banks like Zenith and First Bank. His philanthropic side? Unmatched—remember his N5 billion donation to Save the Children in 2019.

3. Oba Ayoola Otudeko (Omoba Otudeko)

Net Worth: ~$1.5 Billion
Sector: Conglomerate, Finance, Manufacturing
Hometown: Ibadan

Yes, royalty can be rich too. Oba Otudeko, founder of the Honeywell Group, grew from banking clerk to boardroom titan. His empire spans manufacturing, finance, energy, and real estate. Add in his philanthropic ventures through his foundation, and you see why he’s Oyo’s legend. 

4. Seyi Makinde

Net Worth: ~$420–500 Million
Sector: Oil & Gas, Engineering, Politics
Hometown: Ibadan

Running a state and a business? Engineer Seyi Makinde does both. As founder of the Makon Group—an oil and gas engineering outfit—he built significant wealth before winning the Oyo governorship. A blend of brains and boldness, this engineer-politician taps into real estate and energy too. 

5. Chief Adebayo Alao-Akala (Family Estate)

Net Worth: ~$450–1 Billion
Sector: Real Estate, Agriculture, Oil & Gas
Hometown: Ogbomoso

Though late, the legacy of Chief Adebayo Alao-Akala, former governor, still pulses through Oyo’s economy. His family’s estate spans politics, construction, hospitality, agriculture, and oil services—a sign that his wealth is well-preserved and growing. 

6. Dr. Olubunmi Akinlade

Net Worth: ~$600 Million
Sector: Agribusiness, Agro-processing
Hometown: Oyo Town

Dr. Olubunmi Akinlade took farming to corporate—massive cassava, maize, and palm plantations with processing plants feeding local markets and exports. On top of that, he empowers rural communities with training, mechanized farming, and employment. 

7. Alhaji Mufutau Olosunde

Net Worth: ~$500 Million
Sector: Real Estate, Construction
Hometown: Ibadan

Oyo’s infrastructure owes much to Alhaji Mufutau Olosunde, a major real estate developer and builder. He’s behind major housing projects and roads across Ibadan and beyond, turning the city into one of Nigeria’s fastest-growing urban centers. 

8. Chief Olatunde Akinbiyi

Net Worth: ~$450 Million
Sector: Financial Services
Hometown: Ogbomoso

From insurance to microfinance, Chief Akinbiyi stands tall in Oyo’s financial sector. He’s played a key role in expanding credit access to SMEs and sits on several major bank boards—his influence and wealth are deeply tied to economic empowerment. 

9. Chief Kola Daisi

Net Worth: ~$620 Million
Sector: Banking, Education, Real Estate
Hometown: Ibadan

Once a medical doctor, Chief Kola Daisi switched lanes to become a banking powerhouse and founded Kola Daisi University. He's regarded for shaping the stock exchange and transforming education in Oyo. 

10. Sultan Rasidi Olatunde (Rasheed Ladoja)

Net Worth: ~$350 Million
Sector: Manufacturing, Shipping, Agriculture
Hometown: Ibadan

Rasheed Ladoja, former governor and elder statesman, also rides high in business. His portfolio spans manufacturing, shipping, banking, and agriculture. His enduring presence keeps him among Oyo’s financial elite. 

Summary Table

Final Thoughts

Oyo State’s richest indigenes are a blend of royalty, entrepreneurial grit, public service, and innovation. From telecom giants like Adenuga to farming revolutionaries like Akinlade—these are people who built, diversified, and invested with purpose.

Their stories remind us that fortune in Nigeria isn’t just in the oil wells—it can grow in the palm fields, the lecture halls, the traditional palaces, and the startup garages, too.

Would you like more juicy backstories, photos, or even regional comparisons next? Just say the word!