Oba Akinruntan was born in 1950 at Ugbo, a riverine region in Ilaje, into the royal family of Sir Frederick Adetolugbo. He is the fourth child in a family of eight. According to history, there was a prophecy in 1982 that the young Frederick Akinruntan would become a king, but he never took it seriously. The fulfillment of that prophecy later came as Akinruntan was crowned the Olugbo of Ugbo Kingdom in 2009. In between, the super-industrious Fredrick Akinruntan has made a big success in the business world.
HIM Oba Akinruntan was listed as one of the five richest kings in Africa in 2014, according to Forbes ranking, which then puts his estimated net worth around $300 million. The monarch is the founder of Obat Oil, one of Nigeria’s largest and most prestigious privately held oil firms. He founded the Obat Oil Company in 1981 in Okitipupa, Ondo State. The company will later grow to become the owner and operator of a big tank farm and gas stations located throughout Nigeria. Oba Akinruntan also plays big the in real estate sector - with big assets in Nigeria and London. He owns the iconic Febson Hotels and Mall in Abuja’s Central Business District. The king and his two queens are blessed with eight offsprings.
So, all roads lead to Ugbo in Ondo state this Sunday, November 27, 2022 as the coronation anniversary celebration holds at the Obamakin Osangangan Hall, Ode-Ugbo, beginning from 10am. Dignitaries and VIPs from across Nigeria will be gracing the occasion.