The 10 Richest Men In Edo State
Edo State, located in Nigeria’s South-South region, is well known for its cultural depth, historic significance, and a long lineage of influential personalities. With Benin City as its capital, the state has produced powerful traditional rulers, astute politicians, visionary entrepreneurs, and global religious leaders. This blog post takes a deep dive into the lives, careers, and wealth of the ten richest men in Edo State as of 2025, showing how they built their fortunes and what they represent today in Nigerian society.
1. Chief Gabriel Osawaru Igbinedion – Estimated Net Worth: $250 Million
Chief Gabriel Igbinedion, popularly known as the Esama of Benin Kingdom, is arguably the richest and most prominent individual in Edo State. Born in 1934, Chief Igbinedion is a business magnate whose empire spans education, aviation, media, oil and gas, banking, agriculture, and real estate.
He is most famously the founder of Igbinedion University, the first private university in Nigeria, established in 1999. Though his airline company, Okada Air, is no longer operational, it once had over 40 aircraft and played a pioneering role in Nigerian aviation. Chief Igbinedion is also known for his philanthropic efforts, particularly in education and healthcare. His expansive wealth and far-reaching legacy make him a cornerstone in Edo’s business landscape.
2. Mitchell Elegbe – Estimated Net Worth: $200 Million
Mitchell Elegbe is a tech entrepreneur who has built his fortune by leading one of Africa’s most successful fintech companies — Interswitch Group. Born in Edo State, Elegbe founded Interswitch in 2002 with the goal of digitizing payments in Nigeria. Today, Interswitch operates across several African countries and processes billions of naira worth of transactions every day.
Elegbe's work has transformed the financial sector, making him one of the most influential and wealthy tech innovators in Nigeria. He’s widely respected for his leadership, and his success is a beacon for young Nigerians interested in fintech.
3. Adams Oshiomhole – Estimated Net Worth: $200 Million
From the labor union to the political high table, Adams Oshiomhole’s rise is one of resilience and strategic moves. He first gained national prominence as President of the Nigeria Labour Congress (NLC), where he fought for the rights of workers.
He went on to serve two terms as the Governor of Edo State (2008–2016) under the Action Congress of Nigeria and later the All Progressives Congress (APC). In 2018, he became the National Chairman of the APC, Nigeria’s ruling party at the time. Oshiomhole’s political influence, combined with business ventures and affiliations, have significantly boosted his wealth.
4. Lucky Igbinedion – Estimated Net Worth: $190 Million
Lucky Igbinedion is the son of Chief Gabriel Igbinedion and served as the Governor of Edo State from 1999 to 2007. A member of the People's Democratic Party (PDP), his tenure witnessed a mix of developmental efforts and controversies.
Despite some post-governorship legal issues, Lucky Igbinedion remains financially buoyant. His wealth comes from inheritance, political connections, and business dealings in real estate and finance. He is one of the most talked-about political figures in Edo’s history and continues to wield influence in both business and politics.
5. Pastor Chris Oyakhilome – Estimated Net Worth: $120 Million
Pastor Chris Oyakhilome is a globally recognized televangelist and the founder of Christ Embassy, also known as LoveWorld Incorporated. Born in Edo State, Pastor Chris has grown his ministry into a global movement, with millions of followers across Africa, Europe, and North America.
Apart from preaching, Pastor Chris is a bestselling author, public speaker, and media mogul. His ministry owns several TV stations, a music label (LoveWorld Records), and a publishing house. He also has substantial investments in real estate, making him one of the wealthiest religious leaders in Nigeria.
6. Oba Ewuare II (Eheneden Erediauwa) – Estimated Net Worth: $100 Million
His Royal Majesty Oba Ewuare II, born Eheneden Erediauwa, is the traditional ruler of the ancient Benin Kingdom, one of Nigeria’s most respected monarchies. Though traditional rulers in Nigeria do not earn salaries or engage in direct business, the Oba presides over massive ancestral wealth and influence.
Oba Ewuare II is a former Nigerian diplomat who served in various foreign missions before ascending the throne in 2016. Today, he is both a cultural figure and a spiritual leader, and his influence spans governance, commerce, and international diplomacy. The assets and respect tied to his office easily place him among the richest in Edo.
7. Chief Raymond Dokpesi – Estimated Net Worth: $90 Million
Chief Raymond Aleogho Dokpesi was a broadcasting pioneer and media mogul. He founded DAAR Communications, the parent company of Africa Independent Television (AIT) and RayPower FM, two of Nigeria’s most iconic media outlets.
Though he passed away in 2023, Dokpesi's legacy remains vibrant. His media empire contributed to shaping public opinion in Nigeria and helped usher in a new era of privately-owned broadcasting in the country. His financial success came from media, politics, and consultancy.
8. Godwin Obaseki – Estimated Net Worth: $80 Million
Godwin Obaseki, the sitting Governor of Edo State (since 2016), is a trained economist and former investment banker. Before entering politics, he founded Afrinvest West Africa Limited, one of Nigeria’s most respected investment firms.
Obaseki's wealth stems from his years in finance, consultancy, and asset management. As governor, he has prioritized infrastructure and job creation, with a focus on making Edo a center of economic opportunity. His prudent financial background and political tenure place him firmly on the list of Edo’s wealthiest.
9. Captain Hosa Wells Okunbo – Estimated Net Worth: $75 Million
Until his passing in 2021, Captain Idahosa “Hosa” Okunbo was one of Nigeria’s most accomplished entrepreneurs. He started as a commercial pilot but transitioned into business in his early 30s, creating a diversified portfolio across oil services, agriculture, hospitality, and security.
His company, Ocean Marine Solutions, provided maritime services for oil companies in the Niger Delta. Captain Hosa was also known for his philanthropy and influence in both business and political circles. His life and wealth continue to inspire many in Edo State and beyond.
10. Apostle Johnson Suleman – Estimated Net Worth: $70 Million
Apostle Johnson Suleman is the founder of Omega Fire Ministries International, a global Pentecostal movement with headquarters in Auchi, Edo State. Known for his charismatic preaching and prophetic style, Suleman has built a large congregation both locally and internationally.
In addition to his religious duties, he owns properties, schools, and publishing houses. His presence in the media and spiritual leadership contribute significantly to his wealth. Apostle Suleman is a powerful figure in both Edo State's religious community and the national stage.
Final Thoughts
Edo State is home to individuals whose wealth transcends regional boundaries, impacting industries like education, politics, technology, religion, and media. What’s especially inspiring is the diversity of sectors through which these men have earned their wealth — from traditional leadership and public service to tech innovation and spiritual leadership.
Each person on this list exemplifies ambition, strategic thinking, and resilience — qualities that define the Edo spirit. Whether through entrepreneurship, governance, or divine calling, these men have not only accumulated wealth but also contributed immensely to the socio-economic development of Edo State and Nigeria as a whole.
As Edo continues to grow and attract attention from investors, the next generation of wealthy individuals is already rising, ready to leave their mark on history.
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