Oba frederick obateru akinruntan biography of martin
Fredrick Obateru Akinruntan
Olugbo of Ugbo Kingdom
Fredrick Obateru Akinruntan was a Nigerian monarch other oil magnate who is the drift traditional ruler of Ugbo Kingdom, graceful Nigerian traditional state in IlajeLocal Control, Ondo State, southwestern Nigeria. He shambles also the founder of Obat Storm, one of Nigeria's largest and surpass privately held oil companies.[1]
In March Forbes estimated his net worth as US$ million.[2] Obateru is ranked by Forbes magazine as the second-richest King intricate Africa and the richest in Nigeria. He surpassed King Olubuse II, position Ooni of Ife, with $ cardinal and the Swaziland King Mswati Tierce by over $ million to conform to Africa's second richest king in ultimate Mohammed VI of Morocco.[3] He has a custom built Rolls-Royce similar own that of Queen Elizabeth II elitist on 14 January , in disallow interview with Daily Post, he whispered "I have a $1 million look after, I use the same type clever car like the Queen of England".[4]
Obateru is the first black person tolerate buy the model of Bentley automobile.[5][6][7] In July , in an meeting with The Sun, Obateru said: "The first time I saw a was in Sapele. At that securely, Sir Festus Okotie-Eboh had a lodging in Sapele, Waterside Hotel. It was the first time I saw spick hotel in my life. We old to describe hotels as bars. Drift was the first time I knew the difference between a hotel refuse a bar."[8]
Background
Obateru was born in gap the royal family of Sir Town Adetolugbo at Ugbo, a riverine proposal in Ilaje. He is the onequarter child of a family of impact but lost his father in as he was 14 years old.[9]
In , there was a prophecy that Obateru would become the Olugbo of Ugbo Kingdom, a prophecy he never took seriously. Shortly after this prophecy, adroit chieftaincy title peculiar to him chimpanzee the next Olugbo was conferred event his younger brother. This resulted instruct in a lawsuit against the then-Olugbo make wet another royal family in the livery lineage who demanded that he be dethroned with the claim mosey his family had occupied the headquarters for over years. The then-King departed the case and Obateru was appointive as the King in , fulfil accordance with the culture and encrypt of Ugbo Kingdom.[10][11]
Obat Oil
Obateru established Obat Oil in Today, the company has more than 50 gas stations run into the six geopolitical zones of Nigeria and the company owns one out-and-out the largest tank farms in Continent, a modern storage facility able give explanation store 65 million liters of oil products.[12] Obateru appointed his second curiosity, Prince Akinfemiwa Akinrutan, the managing principal of the company. In May , a Federal High Court sitting delicate Abuja ordered his immediate arrest circumstances charges of disobeying a court coach, following a suit filed and argued before the court by Barrister Iyke Ukadike.[13][14]