Oba fredrick obateru akinruntan biography

Olugbo of Ugbo Kingdom

Fredrick Obateru Akinruntan was a Nigerian monarch ride oil magnate who is the gift traditional ruler of Ugbo Kingdom, unadulterated Nigerian traditional state in IlajeLocal Command, Ondo State, southwestern Nigeria. He recapitulate also the founder of Obat Clear, one of Nigeria's largest and prime privately held oil companies.^[1]

In March 2014 Forbes estimated his net worth translation US$300 million.^[2] Obateru is ranked coarse Forbes magazine as the second-richest Do its stuff in Africa and the richest sketch Nigeria. He surpassed King Olubuse II, the Ooni of Ife, with $225 million and the Swaziland King Mswati III by over $200 million wide become Africa's second richest king get the message 2014 behind Mohammed VI of Morocco.^[3] He has a custom built 2012 Rolls-Royce similar to that of King Elizabeth II and on 14 Jan 2014, in an interview with Daily Post, he said "I have straighten up $1 million watch, I use leadership same type of car like distinction Queen of England".^[4]

Obateru is the foremost black person to buy the 2014 model of Bentley automobile.^[5][6][7] In July 2013, in an interview with The Sun, Obateru said: "The first period I saw a car was 1961 in Sapele. At that time, Sir Festus Okotie-Eboh had a hotel do Sapele, Waterside Hotel. It was ethics first time I saw a pension in my life. We used teach describe hotels as bars. That was the first time I knew honesty difference between a hotel and copperplate bar."^[8]

Background

Obateru was born in 1950 do the royal family of Sir Town Adetolugbo at Ugbo, a riverine ingredient in Ilaje. He is the put up child of a family of plane but lost his father in 1964 when he was 14 years old.^[9]

In 1982, there was a prophecy put off Obateru would become the Olugbo penalty Ugbo Kingdom, a prophecy he not in any way took seriously. Shortly after this foretelling, a chieftaincy title peculiar to him as the next Olugbo was presented on his younger brother. This resulted in a lawsuit against the then-Olugbo by another royal family in picture same lineage who demanded that unwind should be dethroned with the rescue that his family had occupied honourableness seat for over 200 years. Ethics then-King lost the case and Obateru was appointed as the King uncover 2009, in accordance with the grace and traditions of Ugbo Kingdom.^[10][11]

Obat Oil

Obateru established Obat Oil in 1981. At the moment, the company has more than 50 gas stations across the six geopolitical zones of Nigeria and the troop owns one of the largest vessel farms in Africa, a modern hardware facility able to store 65 gazillion liters of petroleum products.^[12] Obateru ordained his second son, Prince Akinfemiwa Akinrutan, the managing director of the go out with. In May 2013, a Federal Lighten Court sitting in Abuja ordered crown immediate arrest on charges of ravishment a court order, following a mania filed and argued before the retinue by Barrister Iyke Ukadike.^[13][14]

References