Table of Contents
Key Points
- The Sijuwade family’s net worth has tripled in a decade, driven by strategic expansion across oil, real estate, and construction.
- Under Oba Sijuwade, the family’s group partnered globally to deliver infrastructure and energy projects across Nigeria worth billions.
- The heirs now lead major energy investments, including a 10 percent stake in a promising oil block in Nigeria's Niger Delta.
The Sijuwade family, one of Africa’s wealthiest royal households, has quietly grown its fortune and business reach over the past decade—building on the foundation laid by the late Oba Okunade Sijuwade, the 50th Ooni of Ife.
Since his passing in 2015, the family’s net worth has more than tripled, rising from $75 million to $240 million, a testament to years of patient expansion and careful stewardship.
Royal heirs expand global holdings
Oba Sijuwade led the ancient city of Ile-Ife from 1980 until his death. But he was more than a traditional ruler. Before taking on the role of spiritual leader to millions of Yoruba people in Nigeria, Benin, and Togo, he had already made his mark in business.
Through the Sijuwade Group, which he established, he brought in partnerships with global firms including Centrica, Equinor, Eser, and Reynolds Construction Company. Under his leadership, the company delivered major infrastructure and energy projects valued at more than $6.7 billion across Nigeria.
Today, his children—Prince Adetokunbo, Princess Adekemi Alokolaro, Prince Adegbite, and Prince Aderemi Sijuwade—are keeping that legacy alive. Prince Adetokunbo now leads the family’s business interests, working closely with his siblings to grow their investments across sectors such as oil, gas, construction, and real estate, both in Nigeria and abroad.
Family builds on real estate portfolio
The family’s business footprint today includes two valuable onshore oil blocks, a controlling interest in RCC, one of Nigeria’s top construction firms, a significant real estate portfolio that stretches into the UK, and ownership of one of the country’s largest asphalt plants. These assets play a vital role in Nigeria’s infrastructure and economic development.
Now, with their eyes set firmly on the energy sector, the Sijuwades are advancing work on OPL 276, an oil block in Nigeria’s eastern Niger Delta basin. Production is expected to begin in 2026. Their investment arm owns a 10 percent stake in the block, alongside Newcross Petroleum and Lekoil, which is listed in London.
Early studies from Newcross suggest a promising yield, around 29 million barrels of recoverable oil and 333 billion cubic feet of gas, with higher estimates pushing those numbers further.
Sijuwade family eyes oil expansion
As Nigeria looks to raise its crude output and strengthen its economy, the Sijuwade family is positioning itself to play a bigger role in the country’s oil and gas future. Their combination of legacy, long-term partnerships, and hands-on leadership has made them a reliable name, both at home and to foreign firms seeking trusted allies in Nigeria.
From royalty to boardroom, the Sijuwade family continues to blend tradition with business. What Oba Okunade Sijuwade started as a vision decades ago has now become a lasting institution—led by a new generation, rooted in heritage, and committed to shaping the future.
