Atiku Abubakar Net Worth (Updated 2022)
Atiku Abubakar Net Worth (Updated 2022)
Atiku Abubakar was born on November 25, 1946, in Jada, a town that was then part of the British Cameroons – the region later joined the Federation of Nigeria in the 1961 British Cameroons referendum. Garba Abubakar, his father, was a Fulani dealer and rancher, and Aisha Kande was his mother. He was named after his fatherly grandfather, Atiku Abdulqadir, and became his parents’ lone child when his sister died at a young age.
|Real name||Atiku Abubakar GCON|
|Date of birth||25 November 1946|
|Country of Origin||Federal Republic of Nigeria|
|Source of Wealth||Politician, Businessman|
|Net worth||$1.8 Billion|
His father was opposed to the possibility of Western education and attempted to keep Atiku Abubakar out of the traditional educational system. When the authorities determined that Abubakar did not require tutoring, his father spent a few days in jail until Aisha Kande’s mother paid the fine. Abubakar attended the Jada Primary School in Adamawa when he was eight years old.
After finishing his primary school education in 1960, he was admitted to Adamawa Provincial Secondary School that same year, alongside 59 other students. In 1965, he graduated from optional school after scoring a three on the West African Senior School Certificate Examination.
Following secondary school, Abubakar studied for a short time at the Nigeria Police College in Kaduna. When he was unable to present an O-Level Mathematics result, he left the College and quickly worked as a Tax Officer in the Regional Ministry of Finance, In 1966, he was accepted into the Kano School of Hygiene.
He received his diploma in 1967 after serving as Interim Student Union President at the school. On a provincial government grant, he enrolled in a Law Diploma program at Ahmadu Bello University Institute of Administration in 1967.
After graduating in 1969, he worked for the Nigeria Customs Service during the Nigerian Civil War. Abubakar was confirmed as Nigeria’s Vice President on May 29, 1999. His first term was characterized primarily by his role as Chairman of the National Economic Council and top of the National Council on Privatization, supervising the distribution of errors and inadequately overseeing public projects near Nasir El Rufai
Abubakar was confirmed as Nigeria’s Vice President on May 29, 1999. His first term was characterized primarily by his role as Chairman of the National Economic Council and top of the National Council on Privatization, supervising the offer of blunders and inadequately overseeing public undertakings close by Nasir El Rufai.
Abubakar’s second term as Vice President was marked by a tumultuous relationship with President Obasanjo. In 2006, Abubakar was linked to a public spat with President Olusegun Obasanjo, which appeared to stem from the administration’s last offer to change certain constitutional provisions (Third Term Agenda).
The ensuing debate over the bombed sacred alteration caused a schism in the People’s Democratic Party. In the end, the National Assembly rejected the corrections that would have allowed Obasanjo to run for a second term. In preparation for the 2007 elections, Abubakar and his manager, Olusegun Obasanjo, defected from the Peoples Democratic Party (PDP) to the Action Congress of Nigeria (ACN) in 2006.
His Foray Into Business
Atiku spent 20 years of his life working for the Nigerian Customs Service. He rose to the position of Deputy Director, which was the second-highest position in the service at the time, as a result of his dedication and hard work. In 1974, while still working as a customs officer, he applied for a loan of 31,000 Naira. He put the money he got from the loan into the real estate business.
How did he accomplish this? He used the funds to construct his first home in Yola. When the house was finished, he put it up for sale and used the proceeds to build his second house. He was buying plots of land and building houses on them in Yola one by one. After establishing himself in the real estate industry to some extent, Atiku diversified into agriculture in 1981.
To demonstrate his commitment to making a name for himself in that field, he purchased 2500 hectares of land near Yola, the capital of Adamawa state. After several years of planting maize and cotton on this farmland, the agribusiness collapsed in 1986. He then invested in another type of business after fully recovering from that traumatic experience. This time, he began buying and selling flour, sugar, and rice.
His most significant business move was made while he was still serving his country as a customs officer at the Apapa ports. According to him, a friend approached him about establishing a logistics company that operates within ports, Nigeria Container Services (NICOTES). This business is responsible for the majority of his current wealth.
NICOTES, now known as INTELS, remained a significant source of income for Nigeria’s former vice president until his departure in late 2020. Among the successful businesses he has founded over the years are Adama Beverages Limited and Yola. In Yola, Adamawa State, the company produces beverages.
He is also said to own an animal feed manufacturing plant in the same Yola. Atiku has done so well in business in Nigeria that he is now regarded as one of the greatest businessmen of our time. He is currently the largest employer of labor in the private sector in Nigeria, employing over 50,000 people across all of his businesses. Should I mention that his school, American University of Nigeria Yola, is doing extremely well in terms of academic achievements and other achievements?
His Political Experience
Atiku Abubakar has been a political player in Nigeria since the 1980s. In 1989, he was elected National Vice Chairman of the Peoples Front of Nigeria, a political organization led by Yar’Adua. He represented his constituency the same year, having won the seat in an election that year.
He was elected governor of Adamawa State in December 1998, but before he could be sworn in, he received an invitation from former President Olusegun Obasanjo to be his running mate in the 1999 Presidential elections.
Putting his governorship ambitions aside, he quickly accepted this offer and, along with Obasanjo, won that election as well. On May 29, 1991, Atiku was sworn in as Vice President of Nigeria after winning the 1999 elections with his boss.
Atiku was charged with selling off underperforming government enterprises while serving as vice president. Due to the way it was handled, this activity is still heavily criticized by Nigerians today. President Obasanjo decided in 2006 to amend Nigeria’s constitution to allow him to run for president for the third time. His vice, Atiku Abubakar, successfully resisted his bid.
In an interview, the former vice president reportedly stated:
“He told me, ‘I left power twenty years ago, I left Mubarak in office, I left Eyamdema in office, I left Umar Bongo and even Paul Biya in office, and I came back, and they are still in power; and I just did eight years, and you are asking me to leave; why?’ And I told him that Nigeria is not Libya, Egypt, Cameroon, or Togo, and that you must leave, even if it means losing both of us, because you cannot stay.”
Following this schism with his boss, the former vice president left the People’s Democratic Party to run for president on the Action Congress platform in 2007.
According to the official results of that election released by INEC, he finished third, trailing Umar Musa Yar’Adua of the PDP and Muhammadu Buhari of the ANPP.
Returning to the PDP in 2017, Atiku became its presidential flagbearer and ran for president in 2019 alongside Peter Obi (former Governor of Anambra State). He was defeated once more, this time by APC’s Muhammadu Buhari.
Atiku’s Residence, Cars, and Private Jet
Cars of Atiku Abubakar
Abubakar Atiku Vehicle inventory
The Turaki of Adamawa owns a number of magnificent mansions in Yola, Abuja, and other parts of the country. The former vice president is said to have a large collection of luxury vehicles. He is also said to own one of the most expensive private jets in the country. Atiku has run in several presidential elections and served as Nigeria’s Vice President for ten years. During his tenure, he must have had a fleet of cars for security purposes, some may have gifted him cars, and many people continue to gift him cars even after he has left office.
Some of his luxury car collection includes
- Range Rover
- Mercedes S550
- Lexus 570
- Toyota Landcruiser.
Private Jet for Atiku Abubakar
He has a private jet in addition to his fleet of security and personal cars.
He owns a $4.1 million Embraer Phenom 100 Jet (N1, 563, 330, 000)