Top 10 Richest Men in Ekiti State and their Net Worth

Ekiti State is situated in the southwestern part of Nigeria. It shares borders with Ondo State to the south, Kwara State to the north, Osun State to the east, and Kogi State to the west. The capital of Ekiti State is Ado-Ekiti, which is also the largest city in the state. Ado-Ekiti serves as the administrative and economic center of the state. Ekiti State has a rich cultural heritage, with traditions, festivals, and customs that are deeply rooted in Yoruba culture. Traditional arts and crafts, such as weaving, pottery, and wood carving, are also important aspects of the state’s cultural identity.

As of the last census data, Ekiti State had a population of over 2 million people. The majority of the population are Yoruba people, who are the predominant ethnic group in southwestern Nigeria. Ekiti State boasts a cadre of individuals who have amassed substantial fortunes through various ventures and industries. These titans of wealth not only contribute to the economic development of the state but also serve as inspirations for future generations.

Here, we explore the lives and achievements of the top 10 richest men in Ekiti State:

Chief Afe Babalola (SAN):

Undoubtedly, one of the most revered figures in Ekiti State, Chief Afe Babalola, a legal luminary and philanthropist, stands atop the list of the wealthiest individuals. Founder of the prestigious Afe Babalola University, his influence extends beyond education to real estate, agriculture, and legal practice.

Chief Michael Ade-Ojo:

Known as the “Toyota King,” Chief Michael Ade-Ojo has built an empire in the automobile industry. As the founder of Elizade Group, which encompasses Elizade Motors, Toyota Nigeria Limited, and other ventures, his contribution to the automotive sector in Nigeria is unparalleled.

Otunba Michael Olasubomi Balogun:

As the founder of First City Monument Bank (FCMB) and Olori Holdings, Otunba Michael Olasubomi Balogun has left an indelible mark on the banking and financial services landscape in Nigeria. His investments span across various sectors, including real estate and hospitality.

Prince Julius Adelusi-Adeluyi:

A titan in the pharmaceutical industry, Prince Julius Adelusi-Adeluyi is the founder of Juli Pharmacy and the former Minister of Health in Nigeria. His entrepreneurial acumen and contributions to healthcare have earned him a prominent place among the wealthiest individuals in Ekiti State.

Dr. Ayo Teriba:

Renowned economist and entrepreneur, Dr. Ayo Teriba, has made significant strides in the financial sector through his consultancy firm, Economic Associates. His expertise in economic analysis and policy formulation has earned him both wealth and influence.

Chief Deji Fasuan:

Chief Deji Fasuan, a seasoned businessman and former Managing Director of Odua Investment Company Limited, has played a pivotal role in the development of Ekiti State’s economy. His investments in agriculture, real estate, and hospitality have contributed to job creation and economic growth.

Mr. Deji Haastrup:

A leading figure in the oil and gas industry, Mr. Deji Haastrup, serves as the Chairman of Hastrup Group, a conglomerate with interests in oil and gas, logistics, and construction. His business acumen and strategic investments have propelled him to the ranks of the wealthiest individuals in Ekiti State.

Chief Clement Adeniyi Akinyele:

Chief Clement Adeniyi Akinyele, the founder of CAA Akinyele & Co., is a prominent figure in the legal profession. His law firm, which specializes in corporate and commercial law, has served as a cornerstone for businesses and individuals seeking legal expertise.

Chief Dele Falegan:

Chief Dele Falegan, a seasoned entrepreneur and philanthropist, has made significant investments in the agriculture and manufacturing sectors. As the founder of Dele Falegan & Co. and Falegan Group of Companies, his contributions to Ekiti State’s economy are commendable.

Prince Julius Oluwaseyi Afolabi:

Prince Julius Oluwaseyi Afolabi, a real estate mogul and philanthropist, rounds up the list of the top 10 richest men in Ekiti State. His company, Julius Afolabi Holdings, has undertaken numerous real estate projects, contributing to urban development and infrastructure.


These illustrious individuals not only symbolize the economic vibrancy of Ekiti State but also exemplify the spirit of entrepreneurship and innovation. Through their hard work, resilience, and commitment to excellence, they have not only amassed wealth but also created opportunities for others to thrive. As Ekiti State continues to evolve and grow, these titans of wealth will undoubtedly play pivotal roles in shaping its future trajectory.

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