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What Is Tinubu’s Net Worth? Everything You Need To Know About Former Lagos Governor

Bola Ahmed Adekunle Tinubu is a Nigerian politician and accountant who has served as the party’s leader since its inception in 2013. From 1999 to 2007, he served as Governor of Lagos State and as Senator for Lagos West during the Third Republic. In January 2022, he declared his intention to run for the APC presidential nomination in the 2023 presidential election. He later won the June 2022 primary election, becoming the All Progressive Party’s flag bearer in preparation for the 2023 general Presidential election.

Early Life & Education

Tinubu was born and raised in Osun State, which is located in southwestern Nigeria, on March 29, 1952. His mother, Abibatu Mogaji, was a trader who rose through the ranks to become the Iyaloja of Lagos State. He attended St. John’s Primary School in Aroloya, Lagos, and Children’s Home School in Ibadan for his primary education. Tinubu continued his education by studying accounting in the United States in 1975. He first attended Richard J. Daley College in Chicago, Illinois, before transferring to Chicago State University, where he earned a Bachelor of Science in Accounting in 1979. He then began working abroad for several years.

He returned to Nigeria in the mid-1980s and continued working in financial management before entering politics as the Social Democratic Party senatorial candidate in Lagos West in 1992. After dictator Sani Abacha disbanded the Senate in 1993, Tinubu became an activist for the restoration of democracy as part of the National Democratic Coalition movement. Despite being forced into exile in 1994, Tinubu returned following Abacha’s death in 1998, marking the beginning of the Fourth Republic.

Career

In the United States, Tinubu worked for Arthur Andersen, Deloitte, Haskins & Sells, and GTE Services Corporation. In 1983, he returned to Nigeria and joined Mobil Oil Nigeria, where he quickly rose through the ranks to become a senior executive.

Politics

Tinubu began his political career in 1992 as a member of the Social Democratic Party’s (SDP) Peoples Front faction, which was led by Shehu Musa Yar’Adua and included politicians such as Umaru Yar’Adua, Atiku Abubakar, Baba Gana Kingibe, Rabiu Kwankwaso, Abdullahi Aliyu Sumaila, Dapo Sarumi, and others. He was elected to the Nigerian Senate in the short-lived Third Republic, representing the Lagos West constituency.

After the results of the 12 June 1993 presidential elections were annulled, Tinubu became a founding member of the pro-democracy National Democratic Coalition, a group that galvanized support for the restoration of democracy and the recognition of Moshood Abiola as the election’s winner. He went into exile in 1994, following General Sani Abacha’s assumption of power as military head of state, and returned to the country in 1998, following the death of the military dictator and the establishment of the Fourth Nigerian Republic.

In the run-up to the 1999 elections, Bola Tinubu was a disciple of Alliance for Democracy (AD) leaders Abraham Adesanya and Ayo Adebanjo. In the AD primary for the Lagos State governorship elections, he defeated Funsho Williams and Wahab Dosunmu, a former Minister of Works and Housing. In January 1999, he ran for Governor of Lagos State on the AD platform and was elected.

Governor of Lagos State

During his eight years in office, he made significant investments in education while also reducing the number of schools in the state by returning many to former owners. Other states in the Southwest were won by the People’s Democratic Party (PDP) in the April 2003 elections, with the exception of Lagos State, which was re-won by Tinubu and a new deputy governor, Femi Pedro, under the Action Congress of Nigeria (ACN). Tinubu is locked in a power struggle with the federal government over local government issues.

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Tinubu’s relationship with deputy governor Femi Pedro soured after Pedro declared his intention to run for governor. Pedro ran for governor as an AC candidate in 2007, but dropped out the night before the party’s nomination. While continuing to serve as deputy governor, he switched allegiances to the Labour Party. Tinubu’s tenure as Governor of Lagos State ended on May 29, 2007, when his successor, Action Congress Babatunde Fashola, took office.

2023 Presidential Ambition

Tinubu announced his candidacy for President of Nigeria to President Buhari on January 10, 2022. He later won the June 2022 primary election, which featured prominent politicians such as Vice President Yemi Osinbajo, Rotimi Amaechi, and Rochas Okorocha, among others. Following that, he was elected as the All Progressive Party’s flag bearer in preparation for the 2023 general presidential election. He picked Kashim Shettima as his running mate who is a Muslim and this process as generated a lot of uproar across the country.

Personal Life

Tinubu is a firm believer in Islam. His wife is Oluremi Tinubu, the current senator for the Lagos Central senatorial district. His nephew, Adewale Tinubu, is the CEO of Oando. Tinubu’s mother, Abibatu Mogaji, died on June 15, 2014, at the age of 96. On October 31, 2017, his son, Jide Tinubu, suffered a heart attack in London and was later confirmed dead.

Controversies

Tinubu’s career has long been marred by allegations of corruption and questions about the truth of his personal history. Tinubu was hauled before the Code of Conduct Bureau in April 2007, after the elections but before Babatunde Fashola took power, for the alleged illegal operation of 16 distinct offshore accounts. The Economic and Financial Crimes Commission cleared Tinubu of charges of conspiracy, money laundering, abuse of office, and official corruption in connection with the sale of V-mobile network shares in 2004 in January 2009.

In March 2009, it was claimed that a plot to assassinate Tinubu had been discovered. The Alliance for Democracy has tasked Mike Okiro, the Inspector General of Police, with conducting a thorough investigation. However, in September 2009, it was reported that the British Metropolitan Police were investigating a transaction in which the Lagos State government invested in Econet (now Airtel). Tinubu claimed that the deal was straightforward and beneficial to the state, with no middlemen involved.

Tinubu has also been dubbed the “Godfather of Lagos” for wielding political power in the state to influence regional and national issues. The Lion of Bourdillion, a 2015 documentary film highlighting Tinubu’s political and financial hold on Lagos state, revealed his role in pulling the state’s strings. Tinubu sued the documentary’s producers, AIT, for N150 billion in libel, and the film was canceled on March 6, 2015.

Titles

  • Asiwaju of Lagos
  • Jagaban of the Borgu Kingdom in Niger State, Nigeria.

Influence & Impact

Asiwaju Bola Ahmed Tinubu is a pragmatic, compassionate, and grassroots figure who recognized community service as a powerful social progress vehicle. He was always eager to assist his community, and he was the driving force behind a number of cash contributions and fund-raising efforts for community development programs in Lagos State. He founded the Primrose Group, a political action organization dedicated to bringing significant political reforms to Lagos State.

Net Worth

According to the analysis made by different sources online, it can be concluded that Tinubu is one of the richest politicians in Nigeria. He has an estimated net worth of $32.7 billion. Some of his properties that could be attributed to being his sources of income include the following.

  • Oriental Hotel
  • Falomo Shopping Complex
  • First Nation Airline
  • Lekki Concession Company
  • Apapa Amusement Park
  • Maiyegun Land Project
  • The Nation Newspaper
  • Renaissance Hotel
  • Tejuoso Market (Joint ownership)
  • Ikeja Shopping Mall
  • TV Continental
  • Converted Lagos Poly land for TVC
  • Owned NNPC Office building in Lagos
  • Radio Continental
  • Owned School of Nursing building in Lagos
  • Tax Collector of Lagos State (owns Alpha Beta, a company Prof. Osinbajo is a
  • director)
  • Oando Oil (Receives over $500 million dollars annually from government petroleum subsidy)
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Written by PH

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