Sometimes in 2018, the National Leader of All Progressive Congress (APC) Bola Ahmed Tinubu boasted that he’s richer than one of the states in the South West geopolitical zone and the hell was let loose.
If he claimed that he’s richer than Osun, then Tinubu definitely has multiple sources of income.
In this post, we’ll share with you how Bola Tinubu makes billions of Naira every day, even while he sleeps.
Popularly called Jagaban by his admirers, Tinubu is one of the powerful and richest politicians in South West.
Born with a silver spoon in his mouth?
His mother Chief Abibatu Mogaji was the Iyaloja of Lagos State for many years and she was also the president of the Nigerian Association of Market men and women, a position that that was reportedly bringing in millions of Naira every week, but Bola Tinubu took another direction to hustle to become what he’s today.
Quick take on his political journey:
His first notable political position was when he contested and won a senatorial election into the nation’s senate in 1992, representing the Lagos West Federal Constituency. The republic was truncated.
After the late dictator Gen. Sani Abacha palace coup, Tinubu together with other like-minds formed the National Democratic Coalition (NADECO), a body founded to advance the course of democracy and also advocate the recognition of the annulled June 12th, 1993 elections.
At a time, he was in exile when the military heat was much for him and his NADECO group.
Upon the return of democracy in 1998, he ran for the governorship office of Lagos state under the umbrella of the Alliance for Democracy (A.D.) and won the election.
He ruled the commercial city of Lagos for two consecutive terms (1999-2007). He has been a political dynasty in Lagos State since then.
He’s a kingmaker in Lagos politics since he resisted the influence of the powerful Chief Olusegun Obasanjo to control Lagos. When other South West was hit by the PDP tsunami during the 2003 general elections, Tinubu was the only that survived the political flood.
Since he left office, his wealth has reportedly been growing, which has made some people to ask: How does he make his money? Former President Olusegun Obasanjo was one of those who asked a similar question.
Before the 2019 presidential election, Jagaban was quoted as saying that Buhari didn’t have the kind of money he could steal as being speculated by some people that he was working for the reelection of the APC candidate because of the financial gain.
“They were even recording the incident and published it. Let me not say something like that again today. However, Buhari doesn’t have the kind of money I can steal neither does he have the money I can collect. He doesn’t even have the money for Lagos votes. So, whatever I promise, it’s for real and is coming from my pocket. It’s not until I go to Alausa before I get money to give you,” The Punch quoted him as saying.
The fact is:
Tinubu is rich, he’s extremely rich. He’s rich than some states. In case you don’t know, here are some investments which allegedly belong to Bola Tinubu
Tinubu’s alleged investments where he makes billions of Naira while he sleeps
Before the general elections, remember that some bullion vans were seen entering the powerful Bourdillon, Home of Asiwaju Bola Ahmed Tinubu.
A question about his wealth came to fore during his 64th birthday, Asiwaju revealed how he was able to make a fortune for himself in the following words:
“At Deloitte and Touche, I chose to travel more than 80 per cent of my working years there. And that is because if a staff chose to travel, he would make more money because he would get travel allowances”.
“We had gone there to set up their accounting and auditing system. It was while on that service that I got my financial break.
“When I returned to the United States, my employers gave me a huge bonus, which instantly turned me into a millionaire.
“The bonus was $850,000, before taxes. My salaries were also being paid into the bank and I was not touching them. At the time, my salary deposits in the bank had risen to about $1.8 million” an online medium quoted him as saying.
According to him, he invested all these monies into various business ventures in America before coming to Nigeria and they translated into a huge fortune for him.
Oando Oil Company:
Tinubu hasn’t talked about this company in any of his speeches, however, he has been linked to the ownership of the oil company.
The company is directly managed by Bola Tinubu’s Nephew, Wale Tinubu. In addition to this, Tinubu is also the rumoured owner of Oriental Hotel which is located on Admiralty Way, Victoria Island, Lagos.
Worth of Oando: According to Wikipedia, Oando is valued at N520 billion and market capitalisation value of N115.1 billion
Oriental Hotel Lagos
The question about the ownership of Oriental Hotel, Lagos, has been asked severally by Nigerians.
This hotel is supposedly worth over 120billion Naira and is virtually one of the most expensive hotels in the country as the presidential suite attracts a rate of roughly 400,000 nairas for each night while the cheapest rooms are worth about 60,000 naira for a night.
Alongside ARM and Tunji Olowofe, Tinubu is also said to be the owner of the recreation centre in Oniru which is equally worth billions of naira.
TV continental
Tinubu is said to be the owner of Radio and Television Continental which are leading radio and television channels in Lagos.
He is also the proud owners of a couple of costly and luxurious private jets with the classiest one called the Bombardier Global Express XRS and is reportedly worth a staggering 60 million dollars.
The jet was the one used to convey a onetime president of a West African country when he was exiled.
Hectares of land in “exotic” places in Lagos
Asiwaju is also the owner of prime land of 157 hectares with about 2.5km of Atlantic beachfront which is valued to cost 10 billion naira.
The Lagos state guest house annex in Asokoro, Abuja which was purchased in 2006 by the state government for 450 million naira equally belongs to him.
14 hectares Parkview Ikoyi Estate foreshore land reclaimed by the Lagos state government equally belongs to him, as well as another 5-bedroom semi-detached bungalow on an acre of land, valued to worth around 450 million naira.
The Nation Newspapers
The Nation is a daily newspaper published in Lagos, Nigeria. According to a 2009 survey, it was the second-most-read newspaper in Nigeria, and this result was repeated in a 2011 report by The Advertisers’ Association of Nigeria. The paper’s website says it stands for freedom, justice and the market economy.
The newspapers has also been linked to Tinubu, where millions of Naira are reportedly made every day in adverts and to also propound the political philosophy of the APC powerful man.
Political godfatherism
No one can specifically say how much is returned to Tinubu who plays the role of godfather to virtually all South West politicians under APC.
But we do know that since his name is brand in the region, anyone who wins under him must definitely make some returns.
The above are some of the ways Bola Tinubu makes billions every day.
Feel free to share your thoughts with us.
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