{"id":72036,"date":"2022-03-07T12:38:46","date_gmt":"2022-03-07T11:38:46","guid":{"rendered":"https:\/\/buzznigeria.com\/?p=72036"},"modified":"2023-12-16T00:18:00","modified_gmt":"2023-12-15T23:18:00","slug":"olusegun-obasanjos-net-worth-income-sources-and-car-collection","status":"publish","type":"post","link":"https:\/\/buzznigeria.com\/olusegun-obasanjos-net-worth-income-sources-and-car-collection\/","title":{"rendered":"Olusegun Obasanjo\u2019s Net Worth, Income Sources and Car Collection"},"content":{"rendered":"

Olusegun Obasanjo’s net worth is $1.7 billion in 2024. He derived his income from his involvement in politics, agricultural activities, and a variety of businesses he has set up over time. His car collection features a Lexus 570, a Toyota Land Cruiser, a Mercedes Benz S63 Sedan, a Toyota Highlander 2017, a 2019 Rolls Royce Phantom, and more.<\/p>\n

Olusegun Obasanjo<\/a> is a Nigerian politician, former military leader, and one of the richest politicians in the country. His net worth significantly came from his career in politics and investments in various big businesses, as mentioned earlier. He served twice as leader of Nigeria; first as a military head of state from 1976 to 1979 and then as a democratically elected president from 1999 to 2007.<\/p>\n

In all, Olusegun Obasanjo has grown in the political landscape, gathered fame and power, and accrued outstanding wealth and fortune for himself. His wealth affords him nothing short of a luxury lifestyle.<\/p>\n

How Olusegun Obasanjo Amassed His <\/strong>$1.7 Billion <\/strong>Net Worth<\/strong><\/h2>\n

There is no doubt that Obasanjo made his fortune from a lot of investments and business endeavors he continues to engage in, yet, a good sum of his wealth stems from politics. As a result of the early death of his father, Obasanjo did not further his education more than secondary school. He got admission to study at University College Ibadan but could not afford the tuition fee.<\/p>\n

So, he decided to secure a teaching job he took after leaving secondary school which was where he first started making money.<\/p>\n

Military Career<\/strong><\/h3>\n
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image source<\/a><\/figcaption><\/figure>\n

After teaching for a while, Obasanjo decided to pursue a career in the Nigerian Army. At the age of 22, in 1958, he joined the Nigerian military and received training both in India and England. Notably, he was able to gain quick promotions through his positions in the military as a result of his hard work. He served as a soldier in Kaduna from 1958 to 1959, and in the same year rose to the position of the second lieutenant.<\/p>\n

In 1960, Obasanjo was promoted to the position of lieutenant and served in peacekeeping missions. Shortly after, he joined the force engineering unit where he rose to become unit commander. In 1963, he was promoted to the position of captain and was sent to India where he worked at the Indian Army Engineering School, Kirkee. While he was still there, he was promoted to the position of Major.<\/p>\n

In 1967, he gained the position of lieutenant colonel and served in the second area command in Ibadan for two years. Obasanjo retired from the military in 1976 as a lieutenant-general.<\/p>\n

All the ranks Olusegun Obasanjo attained in his military career and their respective current salaries are as follows;<\/p>\n\n\n\n\n\n\n\n\n\n\n
S\/N<\/strong><\/td>\nRanks<\/strong><\/td>\nSalaries<\/strong><\/td>\n<\/tr>\n
1<\/td>\nLieutenant General<\/td>\nN1,000,000<\/td>\n<\/tr>\n
2<\/td>\nColonel<\/td>\nN550,000<\/td>\n<\/tr>\n
3<\/td>\nLieutenant Colonel<\/td>\nN350,000<\/td>\n<\/tr>\n
4<\/td>\nMajor<\/td>\nN300,000<\/td>\n<\/tr>\n
5<\/td>\nCaptain<\/td>\nN220,000<\/td>\n<\/tr>\n
6<\/td>\nLieutenant<\/td>\nN180,000<\/td>\n<\/tr>\n
7<\/td>\nSecond Lieutenant<\/td>\nN120,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

His Political Career<\/strong><\/h3>\n

Olusegun Obasanjo became Nigeria’s Head of State on 13th February 1976. He served in the position for three years, resigning in October 1979. In his tenure as the Head of State, he made numerous establishments before peacefully handing over power to the democratically elected president, Shehu Shagari.<\/p>\n

After twenty years of leaving office, Obasanjo returned to politics. In 1999, he ran and won the presidential election to be sworn in as the president of Nigeria. At the end of his first tenure in 2003, he was re-elected for a second term. Throughout his tenure as the president, Obasanjo made many notable achievements and contributions to the country.<\/p>\n

There is no doubt that Nigerian politicians are some of the wealthiest in the world today and Obasanjo is not left out. Though the exact cumulative figure of what he earned as president is not known, he once had an annual basic salary of N1,405,882.00.<\/p>\n

As an ex-president and former Head of State, Obasanjo receives N350,000 as a monthly allowance among other benefits and incentives.<\/p>\n

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A post shared by CHIEF OLUSEGUN OBASANJO (@chiefolusegun)<\/a><\/p>\n<\/div>\n<\/blockquote>\n