For years, people have speculated about Olusegun Obasanjo net worth. It is time for us to settle the rumours once and for all. Check out this article, where we will talk about Obasanjo’s net worth and how he has managed to achieve it. You will be surprised.
Who is Olusegun Obasanjo?
If you clicked on this article, you probably know who Olusegun Obasanjo is. Nevertheless, it will not hurt to refresh your memory. Olusegun Mathew Okikiola Aremu Obasanjo (born May 5, 1937) is a former leader of Nigeria. From 1976 to 1979, he was the appointed military ruler of the country. From 1999 to 2007, he was the democratically elected President of Nigeria.
Under his rule, the situation with Nigeria’s economy improved, and the country seemed to blossom, as he undid the mistakes of his predecessors. Oil industry boomed, and the education sector received much-needed attention.
That said, Olusegun Obasanjo was not a perfect leader. During his military rule, he was accused of political repressions. During his second presidential term, Obasanjo tried to rewrite the constitution, so that he could serve a third term. This made him quite a polarising figure in the media.
But let’s not get into details of his presidency, as that is not what we have all gathered here for. Let’s talk about his net worth instead.
Net worth of Olusegun Obasanjo
All things considered, we cannot give you a definitive answer about Obasanjo net worth. The former president himself has never disclosed any concrete information about it, so most numbers around his net worth differ depending on the source.
For instance, an article on NigerianFinder claims that Olusegun Obasanjo net worth is over $1.5 billion. Another website, Moss9ja, agrees with this number. NigerianInfopedia follows a similar line of thinking, but places Obasanjo’s net worth slightly higher, estimating it to be $1.8 billion. Doesn’t seem like much of a difference, does it?
Nevertheless, one website totally disagrees with these numbers. Constative.com claims that the former president is worth a whopping $32 billion! We have absolutely no clue how they have managed to get to that number, but it is what it is.
Even though there are no certain numbers that could define Obasanjo’s net worth, one thing is clear: he is a very rich man. How did he achieve his wealth? Continue reading and find out!
Sources of Olusegun Obasanjo wealth
As a person who once had no more than ₦20,000 in his pocket, Obasanjo sure managed to gain quite a fortune.
But how did he do it?
Well, nobody can say for sure. One certain source of his income has to be his farming business. All the way back in 1979, after retiring as Head of State, Olusegun Obasanjo started his own farm. Before that, he attended the Institute of Agricultural Research and Training to earn the necessary skills and gain some experience in farming.
The farm grew over time and soon became a major player in the agriculture industry. From a single farm in Ota, it turned into a whole network of farms all across Nigeria. In 2004, former president Obasanjo admitted that his farm brought him $250,000 every month. Even though he has not talked about the success of his farming business lately, the fact that in 2013, he expanded it to Liberia speaks for itself.
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However, not everyone is convinced that farming is the only thing that has made Obasanjo so rich, especially in such a short amount of time. There are rumours that he owns an oil block and is involved in oil production. Many have also accused him of corruption and money laundering over the years, claiming that he was misappropriating government funds during the days of his presidency.
One politician, Edwin Clark (former Minister of Information), even went as far as to say that Olusegun Obasanjo was the most corrupt president Nigeria has ever seen. His claim was supported by JKN Waku (former senator), who blamed Obasanjo for allegedly selling the government properties to private bodies and calling it ‘a privatisation policy’.
However, as you can see, little has come out of those claims. Obasanjo is still alive and well, and he has even managed to defend a PhD thesis at National Open University of Nigeria. It is quite an impressive achievement for an 80-year-old (or for anyone, for that matter).
We are fairly certain that Obasanjo will never be left alone when it comes to money matters. People will always want to know how rich he is and how he has managed to get that rich, but none will know for sure, until Olusegun himself decides to share it. That said, we would like the rumours about his involvement in corruption to be resolved and for him to be held accountable if there is a truth to these rumours.