Kwara State, located in Nigeria’s North-Central region, has been a breeding ground for some of the country’s most influential political figures. These individuals have not only shaped the political direction of the state but have also built remarkable wealth through business ventures, public service, and strategic investments. As of 2025, this article takes a close look at the top 10 richest politicians in Kwara State, their estimated net worth, professional journeys, and how they made their money.
1. Abubakar Bukola Saraki — Net Worth: $2 Billion
Abubakar Bukola Saraki, born on December 19, 1962, in London, is a seasoned Nigerian politician and medical doctor. He served as Governor of Kwara State from 2003 to 2011 and was President of the Nigerian Senate from 2015 to 2019. Saraki has amassed his fortune through vast business interests in real estate, agriculture, banking, and oil and gas. He remains the wealthiest political figure from Kwara State.
2. Gbemisola Saraki — Net Worth: $500 Million
Gbemisola Ruqayyah Saraki, born on May 3, 1965, is a former Senator and ex-Minister of State for Mines and Steel Development. A member of the well-known Saraki political dynasty, her wealth is tied to her years in public office and various private sector investments across multiple industries.
3. AbdulRahman AbdulRazaq — Net Worth: $400 Million
AbdulRahman AbdulRazaq, born February 5, 1960, is the current Governor of Kwara State. Before entering politics, he was a prominent businessman with interests in oil and gas, real estate, and finance. His entrepreneurial success laid the foundation for his wealth long before assuming political office.
4. Lola Ashiru — Net Worth: $300 Million
Oyelola Yisa Ashiru, popularly known as Lola Ashiru, was born on June 14, 1955, in Offa. He is a trained architect and a notable politician. As CEO of Capital Projects Limited, a top real estate firm operating in Lagos, Abuja, and other parts of West Africa, his wealth flows mainly from real estate development and politics.
5. Saliu Mustapha — Net Worth: $250 Million
Saliu Mustapha, born September 25, 1972, represents Kwara Central Senatorial District at the National Assembly. He is also the founder of the Saliu Mustapha Foundation, an organization known for its philanthropic impact. His net worth is tied to his political career and humanitarian initiatives.
6. Abdulfatai Yahaya Seriki — Net Worth: $200 Million
Born October 8, 1975, Abdulfatai Yahaya Seriki is a businessman and political leader in Kwara State. He is the CEO of Kursi Investments Limited, and his fortune is largely derived from his business pursuits in construction and logistics, coupled with his active role in state politics.
7. Nurudeen Adeyemi Balogun — Net Worth: $150 Million
Nurudeen Adeyemi Balogun, an aerospace engineer and politician, was born on January 29, 1970, in Esie, Kwara State. He currently serves on the board of TETFund, representing Nigeria’s North Central zone. His income sources include engineering consultancy, government appointments, and philanthropy.
8. Kayode Alabi — Net Worth: $100 Million
Kayode Alabi, Deputy Governor of Kwara State, was born on August 1, 1963. He has a background in education consultancy and entrepreneurship. His wealth stems from his business interests and his high-ranking role in state governance.
9. Ali Ahmad — Net Worth: $80 Million
Ali Ahmad is a legal practitioner and former Speaker of the Kwara State House of Assembly. He has also represented his constituency in the House of Representatives. His legal career and political engagements have significantly contributed to his accumulated wealth.
10. Rafiu Adebayo Ibrahim — Net Worth: $70 Million
Rafiu Adebayo Ibrahim is a former Senator who represented Kwara South. During his tenure, he chaired the Senate Committee on Banking, Insurance, and Other Financial Institutions. His wealth is primarily linked to his political career and his involvement in Nigeria’s financial industry.
Summary Table: Richest Politicians in Kwara State (2025)
| Rank | Name | Net Worth | Key Roles Held | Main Sources of Wealth |
|---|---|---|---|---|
| 1 | Abubakar Bukola Saraki | $2 Billion | Ex-Governor, Former Senate President | Politics, Real Estate, Banking |
| 2 | Gbemisola Saraki | $500 Million | Ex-Minister, Ex-Senator | Politics, Private Business |
| 3 | AbdulRahman AbdulRazaq | $400 Million | Current Governor of Kwara State | Oil & Gas, Politics |
| 4 | Lola Ashiru | $300 Million | Senator, CEO Capital Projects Ltd | Architecture, Real Estate |
| 5 | Saliu Mustapha | $250 Million | Senator, Foundation Founder | Politics, Philanthropy |
| 6 | Abdulfatai Yahaya Seriki | $200 Million | Businessman, APC Leader | Construction, Politics |
| 7 | Nurudeen Adeyemi Balogun | $150 Million | TETFund Board Member | Engineering, Political Appointments |
| 8 | Kayode Alabi | $100 Million | Deputy Governor | Education, Consultancy |
| 9 | Ali Ahmad | $80 Million | Ex-Speaker, Former House of Reps Member | Law, Politics |
| 10 | Rafiu Adebayo Ibrahim | $70 Million | Former Senator, Banking Committee Chair | Finance, Politics |
Conclusion
Kwara State is home to powerful political figures who have combined public service with lucrative business ventures to build impressive fortunes. From Abubakar Bukola Saraki’s billion-dollar empire to Rafiu Ibrahim’s financial sector success, these individuals represent the intersection of politics, influence, and wealth. Their careers showcase how governance and entrepreneurship often intertwine in Nigeria’s political ecosystem, driving both personal prosperity and regional development.
