The 10 Richest Men In Ekiti State
Ekiti State, located in the southwestern region of Nigeria, is known for its intellectual heritage, cultural richness, and proud history of excellence. Nicknamed the "Fountain of Knowledge," Ekiti boasts a population that highly values education, resilience, and integrity. Over the years, many sons of the state have risen to prominence across different sectors including law, politics, business, entertainment, and public service.
In this blog post, we highlight the 10 richest men in Ekiti State, focusing on their estimated net worth, career achievements, and overall contribution to the development of the state and Nigeria at large.
1. Afe Babalola – Estimated Net Worth: $680 Million
At the top of the list is the legendary legal icon and educationist Chief Afe Babalola (SAN). He is not only the richest man in Ekiti State but also one of Nigeria’s most respected legal luminaries. Babalola is the founder of Afe Babalola University (ABUAD), one of the top private universities in Africa, located in Ado-Ekiti.
Born in 1929, his journey from humble beginnings to legal stardom is inspiring. After qualifying as a lawyer, he quickly made a name for himself in the Nigerian judiciary, representing high-profile clients and eventually earning the prestigious title of Senior Advocate of Nigeria (SAN).
Beyond law, Afe Babalola is a major investor in agriculture, real estate, education, and philanthropy. He has contributed immensely to youth empowerment, healthcare, and infrastructure within Ekiti State.
2. Dr. Kayode Fayemi – Estimated Net Worth: $300 Million
Dr. John Kayode Fayemi is a two-time governor of Ekiti State and one of Nigeria’s most recognized intellectual politicians. Before venturing into politics, he was deeply involved in academia and civil society, particularly in areas like governance, security, and democratic development.
Fayemi served as Minister of Mines and Steel Development and later as the Governor of Ekiti State from 2010 to 2014 and again from 2018 to 2022. During his time in office, he initiated various capital projects and youth empowerment schemes.
His wealth comes from his engagements in government, international consultancy, real estate, and advisory roles. He is also affiliated with global think tanks and policy institutes.
3. Ayodele Fayose – Estimated Net Worth: $295 Million
Peter Ayodele Fayose, popularly known as “Oshokomole,” is one of the most controversial and charismatic political figures to come out of Ekiti State. He served as Governor in two non-consecutive terms (2003–2006 and 2014–2018) under the People's Democratic Party (PDP).
Fayose is known for his populist style and strong grassroots appeal. Outside of politics, he has business interests in hospitality, real estate, and transportation, which have contributed significantly to his wealth.
Despite controversies, Fayose remains a beloved figure among many Ekiti indigenes for his street credibility and direct approach to governance.
4. Olusegun Oni – Estimated Net Worth: $200 Million
Engineer Olusegun Oni is another former governor of Ekiti State (2007–2010). Before his political journey, he built a reputable career as an engineer in the private sector. During his tenure, Oni focused on infrastructure development, education, and healthcare reforms.
He later became a Deputy National Chairman of the All Progressives Congress (APC) before defecting to the Social Democratic Party (SDP). His wealth stems from both political career earnings and substantial investments in engineering consultancy and construction.
5. Femi Falana – Estimated Net Worth: $80 Million
Femi Falana (SAN) is one of Nigeria’s most outspoken human rights lawyers. A proud Ekiti indigene, Falana has carved a niche in the legal community for his fearless advocacy for the rule of law, justice, and human rights.
He is the Principal Partner at Falana & Falana Chambers, a law firm that has handled numerous high-profile and landmark cases. Falana’s legal career spans over three decades and includes court appearances both locally and internationally.
Apart from practicing law, he’s a public speaker, rights activist, and policy advisor. His wealth is mainly attributed to his legal practice, consultancy services, and legal education initiatives.
6. Odunlade Adekola – Estimated Net Worth: $50 Million
Born in Otun-Ekiti, Odunlade Adekola is a multi-talented actor, director, and filmmaker who has become a household name in Nollywood, especially in Yoruba-language films.
He gained national fame for his comedic roles and excellent acting skills and has since transitioned into producing and directing. Odunlade also owns Odunlade Adekola Film Productions (OAFP), a thriving movie production outfit that trains upcoming actors.
In addition to acting, he’s a brand ambassador for several Nigerian companies and has investments in real estate, hospitality, and content creation.
7. Folarin Falana (Falz) – Estimated Net Worth: $45 Million
Folarin Falana, popularly known as Falz the Bahd Guy, is the son of Femi Falana but has built his own fame through a successful career in music, law, and acting.
A trained lawyer, Falz switched to entertainment and quickly rose to stardom through his unique blend of comedy, activism, and music. Known for hits like “This Is Nigeria,” Falz uses satire and storytelling to speak on societal issues.
His income sources include music sales, endorsement deals, acting roles, and business ventures. Falz is also the founder of Bahd Guys Entertainment, an independent record label.
8. Yinka Ayefele – Estimated Net Worth: $20 Million
From Ipoti-Ekiti, Yinka Ayefele is a popular gospel artist and entrepreneur. He became paralyzed after a tragic accident in the late 1990s but didn’t let that stop him. Instead, he turned to music, where he found both fame and fortune.
Ayefele is best known for his blend of gospel and traditional Yoruba music. He also owns the Fresh FM radio station, which has branches in Ibadan, Abeokuta, and Ado-Ekiti. His income comes from music, event performances, media, and broadcasting.
9. Abiodun Olujimi – Estimated Net Worth: $15 Million
Senator Abiodun Olujimi is a prominent political figure in Ekiti State and Nigeria as a whole. She has served as Deputy Governor of Ekiti State and currently represents Ekiti South Senatorial District in the National Assembly.
With a background in journalism and media, Olujimi has built a respected career in politics and governance. Her net worth is primarily derived from her public service roles, consultancy, and media-related ventures.
10. Richard Bamisile – Estimated Net Worth: $10 Million
Hon. Richard Olufemi Bamisile, popularly known as BAFEM, is a seasoned politician and businessman from Ekiti State. He currently serves in the House of Representatives and has held several leadership roles at the state level.
Outside politics, Bamisile has investments in real estate, agriculture, and small-scale manufacturing. His growing influence in both business and politics continues to boost his financial status and social standing.
Final Thoughts
These ten individuals have not only built immense wealth but have also contributed significantly to the development and image of Ekiti State. From law and politics to entertainment and business, they showcase the wide range of opportunities available to the determined and hardworking.
Their stories serve as a motivation to aspiring leaders, entrepreneurs, and professionals across Nigeria and beyond. Ekiti State continues to be a fertile ground for talent, and these men are living proof that with vision and dedication, greatness is within reach.
Did we miss anyone?
If you know of other wealthy and influential individuals from Ekiti State who deserve to be on this list, let us know in the comments! Don’t forget to share this post with friends and family proud of our Ekiti heritage.
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