Top 10 Richest Men in Osun State and their Net Worth

Osun State is one of Nigeria’s 36 states, located in the southwestern part of the country. It was carved out of Oyo State in 1991 and named after the Osun River, which is considered sacred by the Yoruba people, who are the predominant ethnic group in the region. Osogbo is the capital city of Osun State. It serves as the administrative, commercial, and cultural center of the state.

Agriculture is the mainstay of the economy in Osun State, with crops such as cocoa, yams, cassava, and palm oil being major agricultural products. The state also has significant mineral resources such as gold, granite, and talc, although exploitation of these resources is not as developed as in some other states. The state boasts of several tourist attractions, including the Osun-Osogbo Sacred Grove, which is a UNESCO World Heritage Site known for its rich cultural and historical significance. Other notable attractions include the Olumirin Waterfall, Erin-Ijesha Waterfall, and the Nike Art Gallery in Osogbo.

The state is also home to some of Nigeria’s affluent individuals. In this article, we explore the lives and fortunes of the top 10 wealthiest men in Osun State, showcasing their successes, contributions to society, and the sectors that have propelled them to the zenith of financial success.

 Format and Methodology:

Before we embark on our journey to discover Osun State’s wealthiest, it’s crucial to understand the methodology behind our rankings. Net worth calculations often involve an assessment of assets, investments, businesses, and liabilities, but without access to personal financial records, these estimates may vary.

 Dr. Deji Adeleke:

Renowned for his entrepreneurship prowess, Dr. Deji Adeleke is a prominent figure in Osun State. His investments in real estate, banking, education, and healthcare have significantly contributed to his wealth. Notable among his ventures is the Adeleke University, an educational institution known for its academic excellence.

 Folorunsho Alakija:

While Folorunsho Alakija hails from neighboring Ondo State, her ties and investments in Osun State cannot be overlooked. As one of Africa’s wealthiest women, Alakija’s interests span across oil, fashion, and real estate. Her philanthropic efforts in education and healthcare have also left an indelible mark in Osun State.

Otunba Subomi Balogun:

A titan in the banking sector, Otunba Subomi Balogun’s influence extends beyond Osun State. As the founder of First City Monument Bank (FCMB), his entrepreneurial acumen has earned him a spot among Nigeria’s wealthiest individuals. Balogun’s philanthropic endeavors, particularly in education and healthcare, have positively impacted communities in Osun State.

Adebayo Jimoh:

Adebayo Jimoh’s success story is deeply rooted in the telecommunications industry. As the founder and CEO of a leading telecommunications company with a significant presence in Osun State, Jimoh’s innovative ventures have propelled him to financial prominence. His contributions to job creation and technological advancement have further cemented his legacy in the state.

 Wale Babalakin:

Wale Babalakin’s journey to wealth and prominence is synonymous with his investments in infrastructure and construction. Through his company, he has been involved in numerous projects in Osun State, ranging from road construction to real estate development. Babalakin’s commitment to socioeconomic development has earned him accolades and recognition within the state.

 Chief Razak Okoya:

Chief Razak Okoya’s empire in manufacturing and commerce extends its reach to Osun State. With a diverse portfolio that includes household products and real estate, Okoya’s business acumen has solidified his status as one of Nigeria’s wealthiest individuals. His investments have contributed to job creation and economic growth in the state.

Dr. Taiwo Afolabi:

Dr. Taiwo Afolabi’s entrepreneurial journey in logistics and maritime services has made him a prominent figure in Osun State’s business landscape. As the founder and CEO of a leading maritime company, his contributions to trade facilitation and transportation infrastructure have been instrumental in driving economic development in the state.

 Dr. John Abebe:

Dr. John Abebe’s ventures in the energy sector have positioned him as a key player in Osun State’s economy. Through investments in oil and gas exploration and production, Abebe has amassed considerable wealth. His contributions to the energy sector have helped meet the state’s energy needs and fostered industrial growth.

Chief Rasaq Okoya:

Chief Rasaq Okoya’s conglomerate spans various industries, including manufacturing, real estate, and hospitality. His investments in Osun State have created employment opportunities and stimulated economic growth. Okoya’s philanthropic efforts in education and healthcare have also made a significant impact on the lives of residents in the state.


Osun State’s wealthiest individuals not only symbolize the spirit of entrepreneurship and innovation but also embody a commitment to community development and social responsibility. Their contributions across various sectors have not only propelled the state’s economy but have also enriched the lives of its citizens.

Disclaimer: The rankings and net worth figures presented in this article are based on available information and estimates. Actual net worth may vary, and additional individuals deserving recognition may exist within Osun state.

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