How Tinubu, Atiku, and Peter Obi Say They Made Their Wealth
- Peter Obi revealed in 2021 that he built his fortune as a trader and banking executive before ever entering politics
- President Bola Ahmed Tinubu attributed his wealth to real estate investments he inherited and grew after leaving the Lagos government in 2007
- Atiku Abubakar said in April 2026 that his money came from oil and gas, logistics, agriculture, and education long before he joined politics
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Legit.ng journalist Ridwan Adeola Yusuf has over nine years of experience covering politics, elections, public affairs, and governance in Nigeria and Africa.
FCT, Abuja - Nigeria holds its next general elections in January 2027, when President Bola Tinubu will seek a second and final term.
With the 2027 presidential election approaching, many Nigerians are asking a pointed question: where exactly did the leading candidates, all of whom are wealthy, get their money?
Legit.ng examines how the top presidential hopefuls said they built their wealth.
Source: Twitter
What Peter Gregory Obi said
Speaking on Arise TV's The Morning Show in October 2021, Peter Obi, now the presidential candidate of the Nigeria Democratic Congress (NDC), described himself as a trader who moved into banking before his career in public office began.
Obi said he ran a planned market management company and was the sole importer of Heinz salad cream, Ovaltine, and South African Breweries products into Nigeria. He also disclosed that a company he left before becoming governor later became the Next Cash and Carry brand seen in Port Harcourt and Abuja.
He stated that he had major shareholding in banks and sat on the boards of three, chairing one, before he was elected governor of Anambra state.
"I had a very good business but went into banking," he said, adding that politics had ultimately made him poorer, though he said he had no regrets.
His claims came against the backdrop of a report linked to the Pandora Papers, which alleged he operated undisclosed businesses in offshore jurisdictions.
Obi rejected the allegations, saying, "I did not in any respect whatsoever violate any law before, during and after my stewardship as the governor of Anambra."
Source: Twitter
Tinubu opens up on source of fortune
In a BBC interview in December 2022, Tinubu, a key chieftain of the ruling All Progressives Congress (APC), said his wealth grew out of real estate holdings he inherited and built upon over the years. Tinubu rejected claims that he drew money from Lagos state coffers, saying the World Bank and IMF had examined Lagos's financial records and found nothing irregular.
He said:
“I inherited great real estate; I turned the values around."
He added that since leaving office as Lagos governor in 2007, he had taken no government appointment and received no government contract.
Atiku explains sources of his wealth
Former Vice President Atiku Abubakar, now the presidential candidate of the African Democratic Congress (ADC), addressed similar questions in an Arise News interview in April 2026. He said his wealth came from investments in oil and gas, logistics, agriculture, real estate, and education, all of which he built before entering politics. He added that he helped fund the Peoples Democratic Party (PDP) from his own resources at its founding.
Atiku also brought up a government investigation launched during former President Olusegun Obasanjo's administration, which he said was led by Nasir El-Rufai and Nuhu Ribadu. He said he voluntarily waived his immunity at the time to allow the probe to proceed, and that the investigation cleared him because his sources of income were transparent and legitimate.
Legit.ng has previously reported on the declarations and controversies surrounding the finances of Nigeria's top political figures ahead of the 2027 general elections.
Read more on 2027 election
- 2027 election: Peter Obi speaks on rumoured agreement with Goodluck Jonathan to sack President Tinubu
- "2027 Not turn of south east": Umahi declares as Peter Obi releases bold statement
- 2027 election: VDM warns Nigerians about Goodluck Jonathan and PDP, “he is sponsored by Tinubu”
2027 election: Cleric makes bold prediction
Earlier, Legit.ng reported that Prophet Sunday Daramola made a bold prediction about the 2027 presidential election, saying spiritual forces will decide who takes the presidency.
Daramola, who shared the prophecy recently in a Facebook post, said he received a divine revelation about the forthcoming contest. According to him, one of the candidates will harness spiritual power to draw a significant number of voters to his camp, and this will ultimately determine the outcome of the election.
Source: Legit.ng
