Former President Muhammadu Buhari died in a London Clinic on Sunday, July 13, 2025, after an illness
He was known to be a staunch advocate of the anti-corruption war, and spoke severally against public officers embezzling funds
Muhammadu Buhari’s net worth has remained a thing of public interest, especially after he stated that he did not embezzle any funds in his 8-year tenure.
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While reflecting on the past president, his ideals, and all that he stood for, it is worth revisiting the controversial issue of his net worth.
The issue of asset declaration has always been controversial among Nigerian leaders, but Muhammadu Buhari became one of the exceptions when he declared his assets in 2015.
BBC reports that as of 2015, Buhari’s assets included the following:
N30 million in his only bank account (with Union Bank) One mud house, inherited from his late older sister.
Another mud house, inherited from his late father.
Two homes in Kaduna, one in Daura, another in Kano state, and another in Abuja. Two of the houses were built using loans from the old Barclays Bank.
Shares in Berger Paints, Union Bank, and (now-defunct) Skye Bank.
Farms, an orchard, and a ranch. According to Shehu, the holdings in the farm included 270 heads of cattle, 25 sheep, five horses, a variety of birds, and several economic trees.
Two undeveloped plots of land, one in Kaduna and one in an unknown location in Port Harcourt.
Two cars, bought from his savings. Other cars, supplied to him as former Head of State, and as gifts from well-wishers after his jeep was destroyed in a Boko Haram attack in July 2014.
The statement from Shehu emphasised: “President Buhari had no foreign account, no factory and no enterprises. He also had no registered company and no oil wells.”
Assets and net worth remain the same after 8 years
Officially, former President Buhari only declared assets at the beginning of his tenure. He did not declare assets at the end of his tenure.
However, in January 2023, he was reported as saying that his assets had remained the same since 2015.
This was barely 4 months to the end of his 8-year tenure when he stated publicly that no one could accuse him of embezzlement. He was speaking at the state banquet organised in his honour in Damaturu, the Yobe state capital, when he declared that he still had no properties outside Nigeria.
Buhari also confirmed that he was returning to farming after leaving the Aso Villa, and in later reports after he left office, he stated that he was living off the proceeds of his farm.
Debunking rumours of Buhari’s children’s wealth
Recall that in 2019, it was rumoured that his children – Yusuf Buhari and Muhammadu Buhari – with a net worth of $2.3 billion, were listed among the richest children of sitting presidents around the world.
This rumour was, however, debunked when a spokesman for Forbes confirmed that they do not list the richest children of sitting presidents.
