{"id":71972,"date":"2022-03-03T12:17:42","date_gmt":"2022-03-03T11:17:42","guid":{"rendered":"https:\/\/buzznigeria.com\/?p=71972"},"modified":"2023-12-15T23:42:22","modified_gmt":"2023-12-15T22:42:22","slug":"bola-tinubus-net-worth-cars-and-the-houses-he-owns","status":"publish","type":"post","link":"https:\/\/buzznigeria.com\/bola-tinubus-net-worth-cars-and-the-houses-he-owns\/","title":{"rendered":"Bola Tinubu\u2019s Net Worth, Cars and the Houses He Owns"},"content":{"rendered":"
Asiwaju Bola Ahmed Tinubu’s net worth is $4 billion as of 2024, and he is considered one of the most influential and second richest politician to come out of Nigeria. <\/strong><\/p>\n In several quarters, it is believed he is worth much more after declaring in a 2018 political rally that he was richer than Osun State, one of Nigeria’s Southwest States.<\/span><\/p>\n Best known as the “Asiwaju” or “Jagaban,” Bola Tinubu has entrenched himself so firmly in the political scenes of not only Lagos State but to other parts of Nigeria, and so, his net worth is rumored to be solely dependent on it. However, it appears that Jagaban has many sources that contribute to his jaw-dropping net worth.<\/span><\/p>\n Bola Tinubu is one of the living legends whose names can never be flushed out in the history of modern Nigeria. The Jagaban himself has been tagged as a ‘Pillar in Yorubaland and Nigeria’ by Ekiti Governor Ayodele Fayose, and it’s all thanks to his influence in almost every aspect of Nigeria’s growth. Therefore, it would not be surprising if his income sources touched every part of the nation’s economy.<\/p>\n Tinubu kickstarted his educational career by attending St. John’s Primary School, Aroloya, Lagos before proceeding to Children Home School in Ibadan. To further his education, Tinubu relocated to the United States of America (USA) and attended\u00a0Southwest College (now\u00a0Richard J. Daley\u00a0College) in\u00a0Chicago before transferring to Chicago State University, where he earned a B.S. in business and administration in 1979.<\/p>\n Bola may today be known as one of the big political powerhouses of Nigeria. Still, his success journey goes way back to his early career in Nigeria’s private sector.\u00a0Best known as the son of\u00a0a famous business mogul, Abibatu Mogaji, popular as the Iyaloja of Lagos State, Tinubu <\/span>grew up in a wealthy home with no lack. After <\/span>bagging a Bachelor of Science degree in Accounting in 1979, he didn’t hesitate to get himself a fitting job.<\/p>\n He worked for a couple of American companies, including Deloitte, Arthur Andersen, GTE Services Corporation, and Haskins & Sells, before returning to his home country to establish a business and begin his political career. Before returning to Nigeria, Tinubu revealed in an interview<\/a> with The News Magazine in 2016 <\/span>that his financial success started with his career with foreign companies.<\/p>\n He said he made more money from travel allowances he receives from companies like Deloitte, where he worked. However, his financial game-changer was his job for an accounting and auditing system for a joint venture between National Oil and Aramco in Saudi Arabia. He recounts that after returning to the US from an auditing assignment to Saudi Arabia, he was welcomed to a bonus package of $850,000 and salaries worth $1.8 million. <\/span><\/p>\n With these, he bought a house, invested the rest there, and stayed back to work for several more years before returning to Nigeria. <\/span>Meanwhile, Tinubu finds it necessary to note that life before his foray into these foreign business ventures was not so easy as many would think.\u00a0He recalled working as a cab driver and even a security guard before reaching where he is today.<\/p>\n After many years working abroad, Bola Tinubu relocated to his home country, where he worked as a senior auditor and treasurer for Mobil Oil Nigeria (now ExxonMobil Nigeria). Tinubu later resigned from his position to get fully into politics.<\/p>\n Bola Tinubu officially began politics in 1992 when he ran for and was elected Federal Senator representing Lagos West under the defunct Social Democratic Party (SDP). <\/span>During his tenure as a federal senator, Tinubu held various key positions within the ambit of the Senate. A most renowned position he held was the Chairman of the Senate Committee on Banking, Finance, Appropriation, and Currency \u2013 a foremost committee of the Senate.<\/p>\n However, his tenure as a senator was short-lived as Nigeria’s 3rd republic was overthrown by the military, headed by General Sani Abacha. After a bit of struggle to return the country to democracy through a pro-democratic group called the National Democratic Coalition, Tinubu went on exile and returned in 1998 to begin his political journey again.<\/p>\n In 1998, he contested for governor of Lagos State under the Alliance for Democracy (AD) and was elected and sworn in as second executive governor of Lagos State on May 29, 1999. <\/span>While he was governor of Lagos State, Bola Tinubu was lauded for investing a lot in education and infrastructure. On May 29, 2007, he handed power to his successor, Babatunde Fashola.<\/span><\/p>\n A sitting governor in Nigeria earns N2.223 million monthly as a basic salary. This, of course, excludes all the allowances that include travel, medical, and vehicle allowance. When the basic salary and allowances are added, State governors in Nigeria earn as much as N11.540 million monthly.<\/p>\n Although this was last reviewed in 2009, it is believed that past governors like Tinubu made huge wealth during his administration. Going by the stipulated salaries, a governor who spent eight years in office is expected to take home over N1 billion. Even after their tenure in office, most officeholders receive huge amounts as pension. This excludes other benefits and commissions from projects they agreed to during their time in office.<\/p>\n For the likes of Bola Tinubu, who served eight years as Lagos State governor (1999 to 2007), his earnings helped him build the fortune he now enjoys. After leaving office, Tinubu ensured that he remained relevant to the political system of Lagos State by playing some godfather role to all the politicians that occupied key political positions in the State.<\/p>\n Gaining more political power in more Southwestern States outside Lagos, Tinubu initiated the merging of various fragmented opposition parties from the People’s Democratic Party (PDP), the Congress for Progressive Change (CPC), the Action Congress of Nigeria (ACN), the All Nigeria Peoples Party (ANPP), to the All Progressives Grand Alliance (APGA), into a bigger party known as the All Progressive Congress (APC).<\/p>\nBola Tinubu’s Net Worth Accrued From Various Sources<\/strong><\/h2>\n
Known sources of Tinubu’s net worth include the following:<\/strong><\/h3>\n
\n
Bola Tinubu’s Education<\/strong><\/h2>\n
Tinubu’s Journey to Financial Success began with the Private Sector<\/b><\/h3>\n
How Tinubu Built His Net Worth Through Politics<\/strong><\/h3>\n
List of Bola Tinubu’s Previous Offices<\/strong><\/h3>\n
\n
What Was Tinubu’s Salary as Lagos State Governor?<\/strong><\/h3>\n