Who is Oba Fedrick Obateru Akinrutan?

Oba Fedrick Obateru Akinrutan with an estimated net worth of 300 million is the richest king in Nigeria and the second richest king in Africa.

He is a traditional ruler of the Ugbo Kingdom ( Ilaje Local Government Ondo State, Nigeria), a Nigerian Monarch, and the founder of one of Nigeria’s largest and leading privately-held oil companies Obat Oil.

Oba Fedrick was born in 1950 at Ugbo to the family of Sir Frederick Adetolugbo, he took over from Oba Banjo Mafimisebi in 2009.

He also has some other residential and commercial Real Estate properties in Nigeria and London and this made him the richest king in Nigeria.

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BiodataOba Fredrick Obateru, The Richest King In Nigeria (2022)

Full Name Oba Fedrick Obateru Akinrutan
Nationality Nigeria
Date of Birth 1950
Age 71 years old
Gender Male
Profession  Traditional Ruler
Marital Status Married
Net Worth $300 Million

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In 1981 Obateru established Obat Oil, the company that owns one of the largest tank farms in Africa with more than 50 gas stations across the six geographical zones of Nigeria.

Prince Akinfemiwa Akinrutan Obateru’s second son is the managing director of the company as appointed by his father Oba Fedrick Obateru Akinrutan.

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Net Worth

Oba Fedrick Obateru Akinrutan has an estimated net worth of 300 million. With his outstanding net worth, he is identified as the richest king in Nigeria.

He invested his money in both residential and commercial Real Estate properties in Nigeria and London

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Personal Life

Just like any other normal man in Nigeria, Oba Fredrick is happily married to two queens of which one is Moremi Ajasoro.

Both queens are blessed with 8 children namely:

  1. Prince Abayomi Akinruntan
  2. Princess Funmilayo Akinruntan
  3. Prince Akinfemiwa Akinruntan
  4. Princess Omobolanle Akinruntan
  5. Prince Yinka Akinruntan
  6. Prince Afolabi Akinruntan
  7. Prince Sheyi Akinruntan
  8. Princess Tutuma Akinruntan

Though there was some controversy that arose in the past about his wife involving in the slave trade, he did not mind that he took her back as his wife.




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