| Name | Peter Gregory Obi |
| Date of birth | July 19th 1961 |
| State of Origin | Anambra, Nigeria |
| Occupation | Businessman, Politician |
| Wife | Margaret Brownson Usen |
| Net worth | $10 million |
Peter Obi’s net worth is 10 million dollars. Despite this staggering wealth, Peter Obi remains grounded, often opting for a simple lifestyle and choosing to fly economy on commercial aircraft.
Following a successful career in commerce and banking, Peter Obi transitioned to public service in 2003 and became the governor of Anambra State. Throughout his tenure, he demonstrated his prowess in both business and politics, leaving a lasting impact on the state and garnering admiration for his leadership.
Peter Obi’s financial activities recently faced public scrutiny during the Pandora Paper Leak which further uncovered his vast wealth and various business interests.
Despite possessing an impressive net worth of $10 million USD, Peter Obi does not rank among the wealthiest politicians in Nigeria. Nevertheless, his influence and prominence within Nigeria’s political sphere remain undeniable.
In this blog post, we will delve into Peter Obi’s remarkable life, exploring his achievements in business and politics. Join us as we uncover the details of his net worth, political career, and entrepreneurial ventures.
Peter Obi’s Net Worth
Peter Obi’s net worth stands at an impressive $10 million, showcasing his outstanding accomplishments in business, politics, and strategic investments. Through his ventures, he has established a formidable presence in the financial landscape of Nigeria and beyond.
Inheriting his family’s business empire after his father’s passing, Peter Obi expanded their grocery chains across key cities in Nigeria, including Lagos, Anambra, and Abuja. Alongside these successful enterprises, he has wisely invested in the financial industry, holding substantial stakes in banks and stock brokerage firms.
Peter Obi’s wealth is also manifested in a diverse portfolio of prestigious properties, spanning across Nigeria and the United Kingdom. Unveiled in the Pandora Papers, his discreet investments in the U.S. Virgin Islands further underline his shrewd financial acumen and global reach.
It is worth noting that Peter Obi’s path to prosperity began even before his political career. Prior to assuming the position of governor of Anambra State and becoming the vice-presidential candidate of the Peoples Democratic Party in the 2019 general elections, he made significant strides in trading and banking.
His expertise in these sectors contributed to his early financial success.
Through a combination of strategic investments, business ventures, and political achievements, Peter Obi has emerged as a figure of influence and affluence, solidifying his net worth at an impressive $10 million.
When comparing Peter Obi’s net worth of $10 million, it is noteworthy to mention the substantial wealth of other prominent figures in the industry. Bola Tinubu boasts a net worth estimated at over $8.4 billion, Atiku Abubakar’s net worth exceeds $1.6 billion, and Olusegun Obasanjo’s net worth stands at $1.7 billion. While Peter Obi’s net worth is commendable, it reflects a different scale compared to these influential individuals.
Nonetheless, Peter Obi’s accomplishments in business, politics, and strategic investments are a testament to his remarkable abilities and entrepreneurial spirit, solidifying his position as a significant player in Nigeria’s financial landscape.
Is Peter Obi the Owner of Fidelity Bank?
No, Peter Obi is not the owner of Fidelity Bank. While he had a successful career in the banking industry and served as the chairman of Fidelity Bank, he does not hold ownership rights over the bank. Fidelity Bank is a publicly listed commercial bank in Nigeria with multiple shareholders.
List of His Companies and Business Interests
Peter Obi’s wide range of investments, business interests, and leadership roles across various sectors demonstrate his intelligence, business acumen, and diverse entrepreneurial success, which have contributed to his impressive net worth.
Peter Obi established this as one of Nigeria’s largest indigenous retail malls. This showcases his success and expertise in the retail sector.
- Banking Industry Leadership Positions:
Held leadership roles in esteemed banks and stock brokerages, such as Fidelity Bank Plc, Guardian Express Mortgage Bank Ltd, Future Views Securities Ltd, and Paymaster Nigeria Plc. This demonstrates his extensive experience and influence in the banking and financial industries.
Obi founded this company in the British Virgin Islands in 2010. This investment vehicle remains an integral part of his entrepreneurial journey.
This company focuses on importing and distributing computer hardware and accessories. This further showcases Obi’s commitment and involvement in the retail sector.
- Multinational Franchises:
Obi holds franchises for South African international breweries, Ovaltine, and Heinz products. He has also invested in a subsidiary of Anheuser-Busch InBev, a global brewing company based in Belgium.
This diversified portfolio indicates Obi’s ability to secure and manage high-profile partnerships and investments.
- Leadership Roles in Prestigious Organizations:
Served as Chairman of the Securities and Exchange Commission (SEC). Associated with organizations like the Nigerian Economic Summit Group, the Nigerian Chartered Institute of Bankers, and the British Institute of Directors.
These leadership positions and affiliations highlight Obi’s influence and recognition within the business and financial communities.
Peter Obi’s Cars
Peter Obi’s cars embody the perfect fusion of modesty and luxury.
As a prominent Nigerian politician, Peter Obi’s collection of high-end vehicles includes the Mercedes Benz AMG C63, valued at approximately 65 million NGN, the Lexus LX 570 valued at around 75 million NGN, and the Toyota Land Cruiser priced between 55-70 million NGN.
These cars exemplify Peter Obi’s refined sensibilities and his inclination towards practicality rather than sheer luxury. They serve as symbols of his sophistication, power, and appreciation for exceptional craftsmanship.
Despite not being ranked among the top 10 wealthiest politicians in Nigeria, Peter Obi’s car collection demonstrates his refined taste and appreciation for understated luxury.
Peter Obi’s Houses
Peter Obi owns a house in his hometown of Onitsha, Anambra State, and another opulent mansion in London, which he bought for a whopping £1,000,000 in 1996.
Despite rumours of a mansion valued at 650 million NGN in Enugu, Peter Obi has vehemently denied its ownership, asserting that he owns only one house in Nigeria.
However, recent revelations from the Pandora Papers investigation have uncovered undisclosed property investments by Peter Obi in the United States Virgin Islands.
These findings unveil additional international property and real estate connected to him, though the exact details and extent of these investments remain undisclosed at this time.
Peter Obi’s Political Career
Peter Obi’s political career was far from easy; it was marked by numerous obstacles that he fearlessly overcame with courage and tenacity. In 2003, he embarked on his political journey by running for Governor of Anambra under the All Progressives Grand Alliance (APGA).
However, his rival, Chris Ngige, was declared the winner by INEC, leading to a three-year legal battle. Peter Obi’s determination paid off when, on March 17th, 2006, he was sworn in as Governor after successfully challenging the initial verdict.
His tenure as Governor faced a significant setback when he was impeached by the state House of Assembly just seven months into office. Virginia Etiba, his deputy, assumed the governorship, becoming Nigeria’s first-ever female governor. Yet, Peter Obi refused to accept defeat and fought for his reinstatement. The Court of Appeal recognized his legitimacy on February 9th, 2007, despite his impeachment, reinstating him as the Governor of Anambra State.
Peter Obi’s resilience continued to shine as he sought re-election as Governor in 2010. This time, he bravely defeated his opponent, former CBN governor Professor Charles Soludo, securing another term to serve the people of Anambra. His commitment to governance was evident during his tenure, as the state’s economy, schools, and hospitals all witnessed notable improvements.
In the 2019 presidential election, Peter Obi set his sights on the vice presidency, running as a candidate for the People’s Democratic Party alongside Atiku Abubakar. Although they faced defeat against President Muhammadu Buhari, and Vice President Yemi Osinbajo, Obi’s aspiration for higher office did not waver.
Realizing his presidential ambitions, Peter Obi made a significant move by switching to the Labour Party (LP) in May 2022. This strategic shift allowed him to secure the LP’s presidential flagbearer position, making him a contender in the 2023 general elections.
In the 2023 presidential election, Peter Obi lost to the incumbent President, Asiwaju Bola Ahmed Tinubu. However, Obi is challenging Tinubu’s victory, alleging electoral irregularities related to the newly introduced electronic voting system and potential breaches of the Electoral Act.
Peter Obi and his party are actively pursuing legal avenues to ensure fairness and accountability in the electoral process. His supporters remain hopeful, acknowledging his unwavering determination for justice.
Peter Obi’s Awards And Achievements
Peter Obi has received numerous awards and accolades throughout his career, recognizing his impactful leadership and dedication to public service.
His achievements, from his time as the Governor of Anambra State to his contributions to economic development, showcase his commitment to driving positive change in Nigeria.
- In 2015, Peter Obi was honoured with the Golden Jubilee Award from the Catholic Diocese of Onitsha for his exceptional dedication to providing high-quality healthcare during the Golden Jubilee celebration of St. Charles Borromeo Hospital.
- In 2014, he received an Award from The Voice Newspaper for his outstanding example in leadership and governance.
- He was also recognized by the Champion Newspaper, as the Most Outstanding Igbo Man Of The Decade in the same year 2014.
- Peter Obi was awarded the Golden Merit Award by the Nigerian Library Association in 2014.
- In 2013, he was named the Man of the Year by Silverbird.
- In 2012, he received the Leadership and Good Governance Award from the Ezeife Leadership Foundation.
- Additionally, he won the Golden Award on Prudence from the Methodist Church of Nigeria in the same year 2012.
- Peter Obi was recognized as the Best Performing Governor on Immunization in South-East Nigeria by the Bill & Melinda Gates Foundation.
- In 2012, he was named the Man of the Year by the Business Hallmark Newspaper.
- He received the Zik Leadership Prize in 2011.
- In 2010, Peter Obi was awarded the West Africa ICT Development Governor of the Year Award.
- In 2009, he was recognized as the Most Prudent Governor in Nigeria by Thisday Newspaper.
- Again, he was recognized as Nigeria’s Most Trustworthy Governor by the Champion Newspaper in 2009.
- In 2007, he was named the Man of the Year by the Sun Newspaper.
Peter Obi’s Achievements as a Governor
- He was the first governor in Nigeria to challenge his illegal impeachment in court, and the courts restored him to office.
- In the new and old Anambra States, he was the first governor to hold office for a second term.
- He was the first candidate for Governor in Nigeria to legally challenge his denial of the governorship election to the end. He regained his mandate after winning in court.
- He was the first Governor to be named a Special Adviser to the President while still in office.
- He was chosen as Vice-Chairman of the Nigeria Governors’ Forum twice despite being the only Governor whose political party was in power in just one State.
Peter Obi’s Philanthropic Activities and Social Contributions
Peter Obi is widely recognized as a generous humanitarian and philanthropist who has made a significant impact in Nigeria. His unwavering commitment to education and healthcare has resulted in transformative changes within his community.
In 2009, Bianca Ojukwu shared an inspiring incident highlighting Peter Obi’s selflessness. Despite having the option to spend $3,800 on an extravagant suit for a significant event, he chose to donate the money to charity. This act exemplifies his dedication to making a positive difference.
Furthermore, in 2023, Peter Obi generously donated 10 million NGN to Paul University in Awka, further emphasizing his support for educational institutions.
In addition to his contributions to education, Peter Obi actively supports artisans, small business owners, and women entrepreneurs by providing financial assistance for their ventures.
His generosity extends beyond financial aid, as he continues to invest in schools, hospitals, scholarships for underprivileged students, and initiatives to combat diseases like polio.
It is worth noting that Peter Obi’s philanthropic endeavours extend to supporting his wife’s charitable activities as well. Through his genuine concern and impactful actions, he has become an inspirational figure, motivating others to emulate his compassionate leadership.
Peter Obi’s Biography and Early Life
Peter Gregory Obi, widely known as “Peter Obi,” was born on July 19, 1961, in Onitsha, Anambra State, Nigeria. He was born into a noble family and was fondly called “OKWUTE,” meaning “ROCK,” by his loved ones, a nickname that reflects his strength and resilience. Peter Obi was raised in a Catholic household and has maintained a strong faith in Catholicism throughout his life.
Peter Obi’s Educational Background
Education has played a pivotal role in Peter Obi’s life. He completed his early education in Onitsha, attending Christ the King College, where he completed his secondary school education. In 1984, he graduated from the University of Nigeria, Nsukka, with a Bachelor of Arts (Hons) degree in Philosophy.
Driven by his passion for knowledge and personal growth, Peter Obi sought further education at prestigious international institutions. He attended the Lagos Business School, where he completed the Chief Executive Program.
He also pursued studies at renowned institutions such as the Harvard Business School, the London School of Economics, Columbia Business School, and the International Institute for Management Development. At these institutions, he acquired invaluable skills in financial management, business policy, marketing management, and executive leadership.
Peter Obi’s Marriage to Mrs Margaret Brownson Usen
Peter Obi married Mrs. Margaret Brownson Usen in 1992 and they are blessed with two children: Gabriella Nwamaka Frances Obi and Gregory Peter Oseloka Obi.
Margaret Brownson Usen is a prominent figure, recognized for her outstanding contributions as a businesswoman, philanthropist, and advocate for human rights. Her relentless efforts to enhance the lives of children in Nigeria have earned her widespread admiration and respect.
Mrs. Obi’s tenure as Anambra State’s first lady from 2006 to 2014 was marked by significant achievements. During her time in this role, she spearheaded the establishment of family courts, providing a dedicated space to address cases of child abuse and violations of women’s rights. This initiative served as a crucial step toward safeguarding the well-being and rights of vulnerable individuals in the state.
Peter Obi and Margaret Brownson Usen share a strong bond that is worthy of emulation. They support each other unwaveringly, creating a nurturing and caring family environment. Their home is filled with love, compassion, and a shared commitment to making a positive impact in the lives of others.
Pandora Papers
As a result of the Pandora Papers leaks, the Premium Times reported on Peter Obi’s involvement in offshore companies located in tax haven countries such as the British Virgin Islands and Barbados. It appears that Obi had set up shell companies in the 1990s, including Beauchamp Investments Limited based in Barbados and UK-based Next International (UK) Limited, which were linked back to Obi and his family. This was before he held any political office in Nigeria.
Further reporting showed that in 2010, Obi had a company called Access International help him establish and manage Gabriella Investments Limited, a company based in the British Virgin Islands that was named after Obi’s daughter. One of the directors of Gabriella Investments was also the director of a shell company based in Belize that was issued 50,000 shares in Gabriella Investments. In 2017, Obi reorganized the company, renaming it PMGG Investments Limited and creating a trust called The Gabriella Settlement, which became the sole shareholder in PMGG Investments Limited. Obi was not holding any political position at this time.
The Premium Times report claimed that Obi remained as a director of Next International (UK) Limited while serving as Governor of Anambra State, which would be a direct violation of Nigeria’s Code of Conduct Bureau and Tribunal Act. However, Obi clarified in an interview with Arise News that he had resigned from all companies before taking office as Governor of Anambra State.
The report also claimed that Obi’s non-declaration of his offshore companies broke the Nigerian Constitution’s provision that requires public officers to declare all their properties, assets, and liabilities. Obi stated that he did not break any laws and clarified that the money in the accounts was from his time as a businessman. The EFCC (Economic and Financial Crimes Commission) invited Obi for questioning in October 2021, after President Buhari directed all anti-corruption agencies to investigate those named in the Pandora Papers leaks.
Final Thoughts on Peter Obi’s Net Worth
Peter Obi, a successful Nigerian politician and businessman, has amassed a significant net worth of $10 million through his ventures in finance, business, and investments. His wealth reflects his astute business acumen and strategic decision-making.
Moreover, his philanthropic activities have had a profound impact on individuals and communities. Despite his wealth and achievements, Peter Obi remains humble and down-to-earth.
FAQs About Peter Obi’s Net Worth
How Does Peter Obi Make His Money?
Peter Obi makes his money through trading, banking, and investments, including his involvement in the import and export of consumer goods, his career in the banking industry, and various business investments.
How Old is Peter Obi?
Peter Obi is currently 62 years old, having been born on July 19, 1961.
Who is Peter Obi’s Wife?
Peter Obi is married to Margaret Brownson Usen. Margaret Brownson Usen is an accomplished lawyer and philanthropist.
Who is Peter Obi’s running mate?
Peter Obi’s running mate is Yusuf Baba-Ahmed, a former senator from Kaduna State.