In a remarkable trend, Nigerian politicians have become significant property buyers in Dubai, amassing multi-billion naira assets in the United Arab Emirates.
A recent BusinessDay investigation revealed that over the past two decades, approximately 200 politically exposed Nigerians have invested a staggering ₦1.49 trillion in the Dubai property market.
Here are some prominent Nigerian politicians and their opulent properties:
1. Atiku Abubakar: The former Vice President has been a fixture in Nigerian politics since 1989. He and his daughter, Hadiza, own several properties in Dubai. Notably, they are linked to a three-bedroom flat estimated at $1.23 million at Palm Tower and a one-bedroom flat at Trade Centre Second. Hadiza, the 23-year-old daughter, also reportedly owns a two-bedroom flat valued at $289,305.75 at Hadaeq Sheikh Mohammed Bin Rashid.
2. Lateef Olasunkanmi Fagbemi: Nigeria’s Minister of Justice and Attorney General of the Federation owns an $85,846 property at Al Hebiah Third.
3. Nasir El-Rufai: The immediate past Governor of Kaduna State possesses a four-bedroom apartment estimated at $193,084, also located at Al Hebiah Third.
4. Yusuf Datti Baba-Ahmed: The Vice Presidential candidate of the Labour Party in the 2023 elections is connected to eight properties valued at $2.28 million. These luxurious holdings are situated in posh locations such as Burj Khalifa, Al Yelayiss, Al Barsha South Fourth, and Town Square Safi 2.
5. Patrick Ifeanyi Uba: The Senator representing Anambra South is associated with nine properties. Eight of these properties are traced to his wife, Uchenna Uba. While the values of all the properties belonging to his wife were not explicitly stated, two of them are reportedly valued at $294,516 each.
6. Attahiru Bafarawa: The former Governor of Sokoto State, who recently decried the situation of Nigeria after bandits reportedly sacked him from his 10,000 hectares of land in Kaduna, also has seven properties valued at $1.48 million linked to him.
Another real estate asset located at Palm Jumeirah and estimated at $750,112 was also traced to the former governor’s wife.
7. Ahmed Markafi: A property at Burj Khalifa valued at $822,016 was traced to Ahmed Markafi, who served as governor of Kaduna State from 1999 to 2007.
8. Amadu Adah Ali: Former Chairman of the Peoples Democratic Party and his daughter, Khadijah Nneamaka Ali, are linked to three properties. One property traced to his daughter is valued at $422,887.
9. Maina Ma’aji Lawan: Former Governor of Borno State is linked to 11 properties in Dubai.
10. Christabel Bentu: Former special assistant to a one-term governor of Plateau State, Joshua Dariye, has one property to her name.
In 2005, the Economic and Financial Crimes Commission arrested Bentu over an allegation that she was assisting Dariye to launder money.
11. Jimoh Ibrahim: Seven properties were linked to the senator representing Ondo South.
12. Nenadi Esther Usman: Nigeria’s former finance minister was linked to one property.
13. Orji Uzor Kalu: Former Abia State governor has one property in his name.
14. Five properties were traced to former Deputy Senate President, Ike Ekweremadu, who is currently serving a jail term in the United Kingdom
15. Osita Chidoka : A real estate asset valued at $101,793.37 and located at Jabal Ali First was traced to the former Aviation Minister.
16. Jeremiah Useni: Former military governor of old Bendel State was linked to one property.
17. Olisa Metuh: Another real estate asset was linked to the former spokesperson of the Peoples Democratic Party.
18. Abdulsalami Abubakar: A property at Marsa Dubai reportedly belongs to Nigeria’s former head of state.
19. Adeyemi Sabitun Ikuforiji: Another real estate asset at Marsa Dubai was traced to the former speaker of the Lagos State House of Assembly.
20. Hassan Ardo Tukur: A property valued at $1.025 million is reportedly owned by Hassan Ardo Tukur, former principal secretary to former president, Goodluck Jonathan.
21. Dan Etete: Finally, a property in the area was also linked to Dan Etete, Nigeria’s former petroleum minister.
Dubai remains a magnet for Nigerian politicians seeking to diversify their investment portfolios. With properties in posh areas like Marsa Dubai, Al Merkadh, Palm Jumeirah, Wadi Al Safa, Madinat Al Mataar, and even the iconic Burj Khalifa, these politicians have left an indelible mark on the global real estate landscape¹.
While the allure of Dubai’s luxury properties is undeniable, questions persist about the sources of funds used for these acquisitions. Transparency and accountability remain essential as Nigeria’s political elite continues to expand their real estate footprint abroad.
In summary, Nigerian politicians have carved out a significant presence in Dubai’s property market, making headlines with their multi-billion naira investments. As the trend continues, scrutiny and public interest will undoubtedly follow, shedding light on the intersection of wealth, politics, and international real estate.
