By Clement Abayomi
Abimbola Akeem Owoade became the (46th) Alaafin of Oyo in April 2025, and since then, people have been showing interest in the narrative of his rise to the throne. Many Nigerians are talking about his wealth, looking forward to know: how rich or wealthy is the new Alaafin? Curiosities and impressions have begun to set in, especially since the new Alaafin is modern and well-known globally. This article sets out to look into the question of his net worth.
Oba Owoade’s wealth is not just a function of his royal heritage but also a product of a distinguished professional journey. Oba Akeem Owoade was born in 1978 into the Owoade-Agunloye royal lineage.
His upbringing has been described as combining the values of tradition and a relentless pursuit of excellence. His career spans reputable institutions in Nigeria (Oceanic Bank and the Nigeria Gas Company), before taking him to the United Kingdom and Canada, where he furthered both his education and professional standing.
Notably, he held positions as a Planning Engineer in Glasgow, UK, and Senior Engineer at Manitoba Hydro, Canada, giving him international exposure and a professional portfolio.
Oba Owoade’s academic achievements are equally impressive. Reports show that he earned a National Diploma and Higher National Diploma in Mechanical Engineering in Nigeria, followed by a Bachelor’s degree from the University of Sunderland and a Master’s in Mechanical Engineering from Northumbria University in the UK.
His certification in Project Management in 2015 further opened doors in the global job market. These academic and professional pursuits resulted in his role as president of 100279 Manitoba Limited, a real estate investment and financial services company in Canada. Oba Owoade has been said to have amassed considerable assets and financial stability through these investments. This affirms his reputation as an entrepreneur.
What about his net worth? What evidence and speculation are there? This is an aspect that seems to be publicly unknown. A lot of curiosity has been surrounding his finances. Still, Oba Owoade’s exact net worth remains undisclosed. Osogbo Updates noted the same in a Facebook post. Meanwhile, several other kings have their net worths reported. However, Oba Owoade’s career trajectory and business ventures suggest a comfortable financial standing.
As reported by The Nation Newspaper, Oba Owoade carried out a philanthropic gesture in 2025 by donating hospital equipment worth millions of naira to the Oyo community.
“A container load of hospital equipment and consumables worth millions of naira from Canada and donated by the Alaafin elect, Oba Owoade, has been delivered in Oyo town, amid jubilation by residents.”
The fact that he donated something worth millions of naira intensifies the magnitude of his wealth. Such philanthropy is indicative of significant resources, placing him among the affluent traditional rulers of the region, even though his net worth does not appear in public rankings alongside other Yoruba kings.
When compared to other Yoruba kings, Oba Owoade’s wealth is not publicly quantified, but his background and investments suggest he holds great assets among Nigeria’s royal elite. For instance, The Olugbo of Ugbo is valued at $300 million, the Ooni of Ife at $70 million, and the Oba of Lagos at $40 million, according to Osogbo Updates. But among these royal figures, Oba Owoade’s net worth is not publicly disclosed. What is quite reliably believable his that his career in engineering, real estate, and philanthropy positions him comfortably within this exclusive circle.
In all, it can be concluded that Oba Owoade is a leader whose position brings together traditional royalty and modern professionalism. Of course we do not really know the exact details of his wealth or net worth, but it is clear he is a successful entrepreneur who gives back to his community. This, by extension, shows that tradition and modernity can come together to establish the possibility of achieving great things.
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