Bola Tinubu cars, mansions & fabled net worth from his life in politics

06/25/2020

Posted by: Oluwatobi Ogunrinde

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Does Bola Tinubu truly own all of Lagos or even half of Nigeria's economy? Find out as Naijauto explores Bola Tinubu net worth, cars, & mansions of the Jagaban!

Few people in history have achieved the status of being called the richest of their times; Solomon, Jeff Bezos, and if you are talking about Nigerian politicians, the man known as the Jagaban, Bola Ahmed Tinubu.

1. About Bola Tinubu

It continues to astonish many how this man rose from being one of many lowly senators in Nigeria's truncated 3rd republic to becoming commander in chief of Africa's most important party, the ruling APC, as well as the most powerful kingmaker in Nigeria.

Bola Ahmed Tinubu has served 2 terms as the governor of the most privileged state in the country - Lagos. Though he is chiefly known as a politician, Bola Tinubu's net worth, cars, & mansions attract no less attention from the public than does his career. 

Bola Tinubu is clearly one of the richest politicians in Nigeria. Rumors abound that he owns half the economic power in the whole country. We don't know the validity of these claims, but Bola Tinubu himself allegedly once made a very controversial comment regarding his wealth. He said he's richer than the whole Osun state. Notably, the comment was made during one of his campaigns.

His remarks about his assets persuade many people into believing that he might well be the richest man in Nigeria and not just the richest governor in Nigeria. What do you think? Join us on Naijauto.com as we explore how rich he truly is:

2. Bola Tinubu's net worth

Frankly speaking, the only fact Nigerians can verify is the extent of Tinubu's power, as no one can really confirm how much he is worth. That doesn't stop the gossip mills from spinning furiously though as speculations continue to pour in about his Dollar and cents worth. Based on the power he has accrued through politics, you can bet your last Naira that he goes smiling to the bank often. Or does he? When he needs cash, the Jagaban just orders it brought to is Ikoyi palace in bullion vans. Yep, see swagga, right?

Suffice it to say that there is enough money to go round for three generations. However, drawing from news about his acclaimed visible assets, Bola Ahmed Tinubu net worth has been estimated to be $8.4 billion (₦3 trillion, 46 billion), making him the richest politician in Nigeria. Some assets he's believed to own include Oando PLC, the largest locally owned oil-producing company in Nigeria with yearly revenue of about ₦449 million, the 5-star ultra-luxurious Lagos Oriental Hotel, where the cheapest suite goes for ₦59,000 per night, and several other expensive assets scattered across Nigeria. We're pretty sure the media doesn't even know the half of it yet. 

Quite apart from these properties mentioned above, Tinubu also guarantees his fortune through multiple other sources; namely, the money from Joint ownership of the ultra-modern Tejuoso Market, First Nation Airline, The Nations Newspapers, TVC Television and Radio, Trojan Estate, Lekki Concession Company, Oando Oil, Renaissance Hotel, Ikeja Shopping Mall, Lakowe, and the list goes on. 

3. Bola Tinubu cars: Toy collection of Nigeria's kingmaker

As a famous president of the U.S, Truman, once said: "You can never get rich in politics, unless...". You probably need to find out the rest of that quote yourself because it's not so good.

Chief-Bola-Ahmed-Tinubu-cars

The former Lagos State Governor rolls in a fleet of high-end vehicles

Talking about the type of cars that adorn his garages, it appears that Bola Tinubu doesn't have to worry too much about buying his own vehicles, as a visit to his home of another politician, the ruling President Muhammadu Buhari has revealed a shocking truth.

So how many cars does Bola Tinubu have?

If you were giving an estimate, how many cars do you think is the maximum an individual should possess? Let's do some basic math here! If you're a normal person, you'd probably need 2 cars, a big one like a good minivan or an SUV if you have a large family and maybe another car for your personal use. Let's say you're a car freak who likes to participate in car races, another off-roader might be introduced to your car fleet. Lastly, if you need to frequently carry heavy items around, a semi-truck could be a good choice. That sums up to a total of 4 cars if you can afford them.

Back to Bola Tinubu, how many cars do you think he has? Round of applause for those who got it right. It's a whopping 30 cars.

an-armoured-mercedez

This is not the first time Bola Tinubu "accepted" cars gift from someone

That certainly spark some questions in Buhari, but Bola Tinubu dodged those questions politely by saying those cars were just given to him by some supposed admirers. It's notable that this is not the first time Tinubu has received these many cars. 

Last year, after a bomb attack directed at Bola Tinubu, his armored SUV was severely damaged and is not safe to use again. Rotimi Amaechi, the governor of Rivers State, gave him a brand new fleet of SUVs. Bola Tinubu, again, doesn't seem to care about the origin or the motive behind those cars.

Bola-Tinubu-and-Rotimi-Amaechi

Bola Tinubu has a habit of never asking the intention or source of cars he received

2.1. Bola Tinubu Jeep Prado

The armored Jeep Prado is always at the top of armoured vehicle list of anyone interested in this car segment.

This model would ensure the safety of Tinubu should he encounter another bomb attack like the one last year. The 2.8L diesel engine with 6-speed manual transmission gives the best out of a 7-seater. Cruise controlling, smart rides, and auto-air conditioning make each ride special in this vehicle.

An-armoured-jeep-vehicle

Jeep Prado is among top choices when it comes to armored vehicles

According to our research, a normal Jeep Prado 7-seater costs around ₦22 million for the base model, so this armored vehicle with upgraded features would be priced no less than ₦50 million.

2.2. Bola Tinubu Land Rover Range Rover

Recently, news has been circling around the Internet regarding Bola Tinubu new armored Land Rover Range Rover. Some sources report that this Range Rover, together with the Jeep Prado above and another armored vehicle were purchased by a governor named Babatund Raji Fashola.

Now, this is pretty disconcerting as Bola Tinubu is the political godfather of Babatunde and so this incident certainly sparks some question over the integrity of the two people, especially when the sum total of the cargo was estimated at around ₦600 million.

Bola-Tinubu-armored-vehicles-being-shipped-on-a-container-truck

The transportation of two armored vehicles was photographed 

In addition to that, there's a picture believed to be another car shipment for Tinubu. I don't know if this shipment is linked to the one above, but the Black Land Rover and Jeep Prado in the picture look deceptively similar to the ones above.

Some-cars-at-an-open-warehouse

It was believed to be the Bola Tinubu cars shipment at an open warehouse space

2.3. Bola Tinubu's other cars

Remember the car collection of Tinubu reaches 30 or more? Besides the aforementioned armed vehicles, Bola Tinubu is storing plenty of luxury automobiles inside his garage. However, few people can get access to his home and even President Buhari got shocked when seeing his car fleet.

That's why Naijauto journalists can only get more information about his cars through pics of him traveling outside. Let's take a look at these following pictures!

Tinubu-got-out-of-his-car

The politician often travels on a Toyota SUV or a Mercedes-Benz

Tinubu-and-Buhari-beside-his-Lexus-car

Tinubu & Buhari talk along with his luxury Lexus

Of course, the list goes on, and we suspect his car fleet will have the presence of most luxury models in the country, ranging from Mercedes-Benz all body styles, Porsche, Chevy, Lexus, to BMW or Ford, etc. If you happen to see his cars on the road, you can email us to make the list more complete!

>>> Another figure with massive net worth is real estate mogul Okeowo, check out Olu Okeowo cars before & after the seizure by Nigeria Custom Services!

3. Bola Ahmed Tinubu new private jet

When you don't need to buy cars since you can have someone deliver it to your backyard, what would you do? Of course, you should think about other more advanced vehicles, like this $42 million dollar (or ₦15 billion). Some sources even affirm the price of this Bombardier Global 6000 Express jet must go up to $60 million (equivalent to ₦21.7 billion).

The private jet can fly long journeys across countries without refueling. International flight with this jet also needs one stop only.

Bola-Tinubu-private-jet

When cars are too ordinary a vehicle, opt for a jet instead!

Buhari-on-Tinubu's-private-jet

President Buhari often travels on Tinubu's jet for election campaign

4. Bola Ahmed Tinubu mansions and estates

Prepare yourself before reading the list because you'd be in shock. Bola Tinubu cars list is not even as impressive as his properties list, you can check the table below and see for yourself.

Bola-Tinubu-mansion

The current residence of Bola Tinubu family

Note that many of his assets are initially state-funded and owned, which he managed to turn his after using political manipulation. And there may be more real estates he is owning but not revealed yet, either in Nigeria or overseas.

Number Bola Ahmed Tinubu's House address Description
1 26 Bourdillon Road, Ikoyi This is the current Tinubu's residence which was renovated with public funds. The property is worth over ₦600 million.
2 Oyinkan Abayomi (formerly Queens) Drive, Ikoyi A 5-bedroom detached house. The house is said to worth ₦450 million which was signed and assigned to him by Fashola in 2007.
3 Asokoro, Abuja This estate results from the annex of the Lagos State Guest House. The state government has bought it for ₦450 million in 2006 but then transferred to Tinubu due to the pension plan he signed before leaving the office.
4 Ajah junction on Lekki Road The 250-hectare land was initially assigned for building a General Hospital but later handed over to Deji & Wale Tinubu to construct Royal Garden Housing. The property is valued at about ₦35 billion.
5 Lakowe near Abijo at Ibeju-Lekki The 1,000 hectares of land was estimated at ₦75 billion. Similar to the above story, it was given to a Tinubu-owned company to develop a golf course and housing estate.
6 Atlantic beachfront 157 hectares with 2.5km of Atlantic beachfront valued at about ₦10 billion was deprived from Siriwon communities with little compensation. Tinubu and Fashola is building a golf course and villas here.
7 Ikoyi Estate foreshore  The 14-hectare Parkview foreshore land was once reclaimed by Lagos state but somehow currently owned by Tinubu.
8 Strabag yard beside the Lagos State Secretariat at Alausa, Ikeja Again, Tinubu signed into law some bills to get himself a land so he can develop an enormous shopping mall. The value of this property hasn't been unveiled yet.
9 The choice property at Lekki-Epe road Tinubu constructed an Oriental Hotel here which cost nearly ₦25 billion in total.
10 Eleko junction, off the Lekki-Epe express road Tinubu's wife built the New Era Foundation youth camp here and soon converted it to household use.
11 The Critical Care unit at the Lagos State University Teaching Hospital (LASUTH) in Ikeja The construction of this department used 100% state funds but now belongs to Tinubu.
12 Other estates in Lekki Both Fara Park Estate and Beach Wood Estate are under Tinubu's ownership.

This is only his assets on the surface, the tip of the iceberg

>>> You can read details of the scandal between Tinubu and Dino Melaye here: Dino Melaye cars & scandals sum-up till now

Royal-Garden-estate

A corner in Royal Garden Estate in Lekki, which was constructed by Tinubu-owned company

Oriental-hotel

Oriental Hotel construction costs up to ₦25 billion

>>> Hardly a Nigerian person can have such number of estate properties. Even Jeff Bezos - the richest man on Earth doesn't own that much land. Check here Jeff Bezos cars & houses: what the richest man on Earth is owning?

5. Bola Tinubu scandals & alleged dirty sources of income

There's a common belief that the most feared politicians in Nigeria should have one or two scandals, considering the fact that they've made a bunch of enemies. This belief is nothing short of true. Tinubu has a lot of friends and at the same time, he has uncountable enemies flocking around the political scene. Jagaban has attained a level of power that allows him to fix governors in Lagos, basically, anyone he approves of is more than likely to be on the seat. 

Toronto Certificate scandal

Sometime in 2016, Tinubu spoke about how he overcame the Toronto Certificate scandal with the help of the current Vice President of Nigeria, Professor Yemi Osinbajo. As the former Attorney General and Commissioner for Justice, Osinbanjo had helped Tinubu overcome the certificate forgery allegations leveled against him by late human rights lawyer, Chief Gani Fawehinmi. This scandal occurred during Tinubu's first term as Governor of Lagos, between 1999 and 2003. 

According to Tinubu:

The capability and firmness of Osinbajo in my time of travail made me to triumph against every plan by my detractors to destroy my image and career.

Now that Osinbanjo has become Vice President of Nigeria, his political success is attributed to Tinubu's interest in placing him under his wings. According to Punch News, Tinubu especially recommended Osinbanjo to become vice president of Nigeria, and the reasons are quite obvious. He considers the man a hero and decided to place him on a power-inclined thread.

However, there's an extremely high chance that Bola Tinubu will be running for the presidential seat in 2023, and Yemi Osinbanjo will likely be a contender, Nigerians are still not sure how this will play out. Realistically, the professor doesn't hold as much power as Jagaban does, so it looks like one will have to give way for another. We all have an idea who that "One" will be.

Another perfect example of Tinubu's power expression is when he had a minor clash with the former governor of Lagos State, Akinwunmi Ambode in 2018. Ambode had a shot at a second term in Lagos, but he was believed to have stepped on Tinubu's toes, which caused his replacement. Babajide Sanwo-Olu eventually became the governor, just as Tinubu planned.

>>> It's a pity for Sir Ambode: Governor Akinwunmi Ambode transportation projects: A legacy to be remembered

The Lion of Bourdillon 

On March 1st, 2015, the popular Nigerian television station, AIT (Africa Independent Television), released a 60 minutes documentary video that was focused on the political life of Bola Tinubu. Apart from emphasizing the personal life of Tinubu, the video also depicted him as "Nigeria’s biggest landlord", showing evidence of his corrupt practices during and after his tenure as governor of Lagos State. At the time of the video release, Tinubu was a Senator, the video exposed a bunch of hidden properties that are owned by him, which of course, are allegedly a product of embezzlement.

The video was definitely aimed at ruining Tinubu's image, so on March 6th of the same year, he "instituted a N150 billion suit against AIT on alleged defamation of character." Tinubu supporters strongly believed that the video was sponsored by the opposing party, PDP (People's Democratic Party) and AIT just had to bring it down.

In his defense, Raymond Dokpesi, AIT Chairman, claimed that the video wasn't targetted at denting Tinubu's image. He also added that Section 22 of the Constitution of Nigeria allows every citizen to hold those in government accountable and responsible to Nigerians. So apparently, he was only following the Rule of Law. In the end, the issues were sorted amicably without trial.

His assets are allegedly a product of drug trafficking

It might interest you to know that in the Lion of Bourdilon documentary, AIT revealed that Tinubu was charged for drug trafficking and money laundering in 1993 by the United States Government. This allegation later haunted him in 2008, when the United States Federal Agents linked him to a white heroine network in Chicago:

In an affidavit sworn to by Kevin Moss, a Special Agent with the United States Internal Revenue Service, criminal investigation division in support of the verified complaint for forfeiture of Bola Tinubu’s moneys held in various Bank accounts, the agent gave a vivid account of how he came to the conclusion that the funds were proceeds of narcotics transaction in violation of the U.S law. 

Note that these allegations were originally leveled against him by the U.S Government between 1988 and 1993, Sahara Reporters shed more line on it in 2009. Apparently, AIT wasn't lying after all.

bola-tinubu-bullion-van

Earlier this year, two bullion vans carrying unknown items entered Bola Tinubu's residence

Money bag bullion vans

Earlier this year, Nigerians were vibrating over the bullion vans that were found in Tinubu's residence in Bourdillon, Ikoyi. Although no one knows exactly what the vans were carrying, rumors were making rounds about ballot papers for the 2019 election or huge amount of money. However, Tinubu made sure he shut everyone up:

Excuse me, is it my money or government money? I don’t work for the government...I am on my own and I am committed to my party. So, even if I have money to spend on my premises, what is your headache? If I don’t represent any agency of government and I have money to spend, if I like, I give it to the people free of charge as long as it is not to buy votes.

It is noteworthy that a petition to the EFCC by Deji Adeyanju, a social activist, so far has been ineffective. When probed for a response pertaining to the petition, Magu the EFCC chairman gave a cryptic, non-committal answer.

>>> Related: What is inside a bullion van? All you need to know about armoured cash transport cars in Nigeria

Conclusion

Bola Tinubu is indeed a very astute politician. It's actually a shame that he made his fortune through spending public money for his own good, and it's a shame Tinubu's net worth, cars, & mansions are his most notable marks but not political achievements or public trust.

Don't forget that Naijauto.com has an entire collection of Celebrity Cars! Check it out!

Video: How Rich is Bola Ahmed Tinubu in 2020?

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Oluwatobi Ogunrinde

Oluwatobi Ogunrinde

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A passionate writer looking to educate people with every piece of her work. Oluwatobi enjoys writing about exotic cars, productive tech traits, workplace culture, and basic data science values. She holds a Master's degree in Diplomacy and Strategic Studies from University of Lagos. When she's not expressing herself through a new article, she's reading about international politics.

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