Kessington Adebutu Biography: Net Worth, Age, Family, Wiki

Meta Description: Kessington Adebutu biography reveals the inspiring story of Nigeria’s lottery king “Baba Ijebu,” his net worth, age, family, wife Dame Caroline, children including Ladi Adebutu, business empire, and philanthropic legacy.

Who is Kessington Adebutu?

Kessington Adebukunola Adebutu, widely known by his legendary moniker “Baba Ijebu,” stands as one of Nigeria’s most successful entrepreneurs and philanthropists. Born on October 24, 1935, in Iperu-Remo, Ikenne Local Government Area of Ogun State, Nigeria, Adebutu has built an extraordinary business empire from humble beginnings, becoming the founder and chairman of Premier Lotto Limited, Nigeria’s most popular and oldest gaming company.

At 89 years old (as of October 2024), Adebutu remains an active business mogul whose influence spans multiple sectors including gaming, banking, real estate, agriculture, manufacturing, and healthcare. His journey from working as a sales manager at an American chemical company to becoming a billionaire lottery magnate exemplifies the Nigerian dream of rising from modest circumstances to tremendous success through hard work, integrity, and unwavering determination.

Chief Adebutu’s name has become synonymous with lottery betting in Nigeria, with “Baba Ijebu” now a household term recognized across the country. Beyond his business acumen, he is celebrated for his exceptional philanthropy through the Kessington Adebukunola Adebutu Foundation (KAAF), which reportedly spends an average of N150 million monthly on humanitarian activities, touching countless lives in education, healthcare, and community development.

His contributions to Nigerian society have earned him numerous prestigious titles and honors, including the Commander of the Order of the Niger (CON), Odole-Oodua, Balogun of Remoland, Babalaje of Lagos, and Asoju Oba of Lagos, among many others. Today, Adebutu’s legacy extends beyond wealth creation to encompass nation-building, youth empowerment, and charitable works that have positively impacted millions of Nigerians.

Quick Facts About Kessington Adebutu

AttributeDetails
Full NameKessington Adebukunola Adebutu
Popular NameBaba Ijebu
Date of BirthOctober 24, 1935
Age89 years old (as of October 2024)
Place of BirthIperu-Remo, Ikenne LGA, Ogun State, Nigeria
NationalityNigerian
EthnicityYoruba (Ijebu)
State of OriginOgun State
ParentsLate Alhaji Karimu Folarin Adebutu (Father), Late Alhaja Seliat Olasimbi Adebutu (Mother)
WifeLate Dame Caroline Oladunni Adebutu (died January 2023), others
ChildrenMultiple children including Ladi Adebutu, Segun Adebutu, Dr. Abiola Olorode, and others
OccupationEntrepreneur, Philanthropist, Business Magnate
CompanyPremier Lotto Limited (Baba Ijebu)
Net WorthEstimated $1.6 – $1.7 billion (2024)
ReligionChristianity
HonorsCON, KJW, FISM, Honorary Doctorate (OOU)
FoundationKessington Adebukunola Adebutu Foundation (KAAF)

Early Life and Family Background

Kessington Adebukunola Adebutu was born into a humble family on October 24, 1935, in Iperu-Remo, a town in Ikenne Local Government Area of Ogun State, Nigeria. His father, the late Alhaji Karimu Folarin Adebutu, was also known by the nickname “Owo-Iya,” while his mother was the late Alhaja Seliat Olasimbi Adebutu. Coming from this modest background, young Kessington learned the values of hard work, perseverance, and integrity from an early age.

Growing up in the defunct Western Region of Nigeria during the colonial era, Adebutu witnessed firsthand the challenges and opportunities that characterized mid-20th century Nigeria. His family’s emphasis on education despite their limited resources shaped his lifelong commitment to learning and later influenced his extensive philanthropic support for educational institutions across Nigeria.

The Adebutu family hails from the Ijebu ethnic group of the Yoruba people, a community known for their business acumen and entrepreneurial spirit. This cultural heritage undoubtedly influenced Kessington’s future business ventures and his eventual dominance in Nigeria’s gaming industry. His Ijebu roots would later inspire the popular “Baba Ijebu” brand name that became synonymous with lottery betting in Nigeria.

From his parents, particularly his mother Alhaja Seliat Olasimbi, Adebutu inherited a compassionate heart for the less privileged. This maternal influence would later manifest in his establishment of the Alhaja Seliat Adebutu Library at Crescent University, immortalizing his mother’s memory through educational philanthropy.

Despite the financial constraints of his childhood, Adebutu’s family ensured he received quality education, setting the foundation for his future success. The values instilled during his formative years in Iperu-Remo—integrity, generosity, and community service—would become the cornerstone principles guiding his business philosophy and philanthropic endeavors throughout his remarkable life.

Educational Journey

Kessington Adebutu’s educational journey began in the late 1930s when he started his primary education. He first attended Wesley Primary School in Iperu-Remo before moving to Ijero Baptist School on Apapa Road, Ebute-Meta in Lagos, where he completed his primary education around 1950. This early education laid the foundation for his intellectual development and exposed him to the cosmopolitan environment of Lagos.

In January 1951, young Kessington gained admission into the prestigious Baptist Academy in Lagos for his secondary education. However, he would complete his secondary schooling at the famous Remo Secondary School (RSS) in Sagamu, Ogun State, finishing in 1955. At Remo Secondary School, Adebutu distinguished himself as a brilliant student, reportedly topping his class in the School Leaving Certificate Examination—a remarkable achievement that foreshadowed his future success.

His excellent academic performance demonstrated not only his intelligence but also his discipline and dedication to excellence, traits that would later define his business career. The quality education he received at these institutions, particularly at Baptist Academy and Remo Secondary School, equipped him with the critical thinking skills and knowledge base necessary for navigating the complex business world.

Interestingly, despite his academic brilliance, Adebutu had initially harbored ambitions of becoming a lawyer. However, he would later choose a different path, preferring to pursue business opportunities that would eventually lead him to establish one of Nigeria’s most successful gaming enterprises. This decision, though it meant abandoning his legal aspirations, proved to be transformative not just for him but for thousands of Nigerians who would later find employment and opportunities through his businesses.

His educational background instilled in him a profound appreciation for learning, which later translated into his legendary philanthropic support for educational institutions across Nigeria. From donating state-of-the-art libraries to building classroom blocks and science laboratories, Adebutu has invested millions in ensuring that future generations have access to quality education—a privilege he values deeply from his own formative experiences.

Career Journey: From Humble Beginnings to Business Empire

Early Career and Transition to Entrepreneurship

Kessington Adebutu’s professional journey began in the 1960s when he secured employment as a sales manager at Claffin Chemical Limited, an American chemical company that produced caffinol, magnesia, and other chemical products. In this role, he was responsible for managing sales operations across Lagos State and the entire Mid-Western State, demonstrating early leadership abilities and business acumen.

Despite his success as a sales manager with a reputable American company, the ambitious young Adebutu felt a calling toward entrepreneurship. In a bold move that would define his future, he quit his comfortable corporate position to venture into the pooling business as an agent. This decision, which many might have considered risky at the time, reflected his entrepreneurial spirit and willingness to take calculated risks in pursuit of his dreams.

Building the Premier Lotto Empire

Adebutu started his lottery business with remarkably modest resources—renting his first pool shop with just 3 pounds. This humble beginning would eventually grow into a multi-billion naira empire known as Premier Lotto Limited, popularly called “Baba Ijebu.” He partnered with his friend, Chief Solomon Adebayo Ayoku, and together they worked tirelessly to establish their pooling business.

The early days of the business were far from smooth. Adebutu faced numerous challenges, including periods when forecasters were predicting correctly and winnings were rising significantly. During this difficult period, many pool companies folded and exited the business, unable to sustain the financial pressures. However, Adebutu remained stubborn and committed, refusing to abandon ship even when the storms raged fiercely.

The secret to his survival and eventual success was simple yet profound: honesty. As Adebutu himself explained, “Honesty has kept me to this point. Some pool agents will sell pool and keep some behind. When there is winning, they are in trouble.” This integrity-based business model built trust with customers and agents, establishing a solid foundation for long-term success.

Incorporation and Expansion

Premier Lotto Limited was formally incorporated in 2001 as a gaming company to carry out lotto business in Nigeria. Under Adebutu’s visionary leadership, the company expanded rapidly, becoming Nigeria’s most popular and oldest gaming company. Today, Premier Lotto operates through a network of over 200 principal agents and approximately 16,000 retail gaming representatives spread across Nigeria, particularly dominating western Nigeria.

The “Baba Ijebu” brand name, derived from Adebutu’s Ijebu heritage, has become so synonymous with lottery betting in Nigeria that the term is often used generically to refer to lottery games, similar to how “Xerox” became synonymous with photocopying. This brand recognition represents one of the most successful marketing achievements in Nigerian business history.

Diversification into Multiple Sectors

With the substantial proceeds from the lottery business, Adebutu demonstrated shrewd business acumen by diversifying into various sectors. His business interests expanded to include agriculture (including oil palm plantations and livestock farming), manufacturing, estate management, construction, hospitality, and entertainment. This diversification strategy not only spread risk but also created multiple revenue streams that strengthened his overall business empire.

In the financial sector, Adebutu holds a significant 28.09 percent stake in Wema Bank Plc through Neemtree Limited, a special purpose vehicle established in 2013 for targeted investments. Wema Bank, one of Nigeria’s oldest financial institutions, is best known for ALAT—Africa’s first fully digital bank—positioning Adebutu at the forefront of financial technology innovation in Nigeria.

Additionally, he owns a controlling 69.9 percent stake in Arbico Plc, a major player in Nigeria’s construction industry. In 2014, demonstrating his continued appetite for strategic acquisitions, Adebutu purchased the Ogun State-owned Gateway Hotels in Abeokuta, adding hospitality to his growing portfolio.

More recently, Adebutu has ventured into the healthcare sector, investing billions of naira into establishing a multi-specialty medical center designed to end medical tourism and broaden access to advanced medical diagnosis in Lagos and Nigeria as a whole. This represents his commitment to addressing critical national challenges while creating profitable business opportunities.

Business Philosophy and Management

Today, Premier Lotto and Adebutu’s other businesses are managed by a team of seasoned individuals with over 40 years of collective experience in their respective industries. This professional management approach has enabled the businesses to sustain growth and adapt to changing market conditions while maintaining the core values of honesty and integrity that Adebutu established from the beginning.

The gaming empire that started with just 3 pounds has transformed into a multi-billion dollar enterprise that provides employment for thousands of Nigerians and has helped transform countless lives by putting food on the tables of the poor and needy across the country.

Net Worth and Financial Profile

Kessington Adebutu ranks among Nigeria’s wealthiest individuals, with his net worth subject to various estimates depending on the valuation methodology and market conditions. According to credible sources, his net worth was estimated at approximately $700 million in 2019. More recent estimates from 2023-2024 place his wealth at between $1.6 billion and $1.7 billion, reflecting the growth of his diverse business interests.

His wealth stems from multiple revenue sources, with Premier Lotto Limited serving as the flagship business. The lottery and gaming company generates substantial revenues through its extensive network across Nigeria, making it the largest and most profitable lotto business in West Africa.

In the banking sector, Adebutu’s 28.15 percent stake in Wema Bank Plc represents a significant portion of his wealth. According to data tracked by financial analysts, his stake in Wema Bank has fluctuated with market conditions, valued at various points between $17.30 million and $26.34 million. In April 2024, he experienced a temporary setback when his Wema Bank stake decreased by approximately N4.6 billion ($4.03 million) over 16 days due to share price fluctuations, though he remains one of the wealthiest investors on the Nigerian Exchange (NGX).

His controlling 69.9 percent stake in Arbico Plc, a construction company, adds another substantial asset to his portfolio. Additionally, his investments in real estate, agriculture, manufacturing, and the recently launched multi-billion naira medical center contribute significantly to his overall net worth.

In 2024, Adebutu was ranked among the 25 richest people on the Nigerian Stock Exchange, with his publicly traded holdings alone worth millions of dollars. However, his private business interests, particularly Premier Lotto, likely represent the largest portion of his wealth, though exact figures remain undisclosed as the company is privately held.

Beyond monetary wealth, Adebutu’s true value to Nigerian society extends to the thousands of jobs created through his businesses, the millions of naira distributed monthly through his foundation, and the countless lives transformed through his philanthropic activities—contributions that transcend mere financial metrics.

Wife and Marital Life

Kessington Adebutu’s marital life has been marked by both joy and tragedy. His most publicly known wife was the late Dame Caroline Oladunni Adebutu, who hails from Odogbolu, also in Ogun State, South West Nigeria. Dame Caroline was not just a wife but a partner who stood by Adebutu throughout his entrepreneurial journey and shared in his philanthropic vision.

Dame Caroline Oladunni Adebutu passed away on Monday, January 9, 2023, at the age of 83, leaving behind a grieving family and community. Her death was a significant loss to the Adebutu family, as evidenced by the condolence visit from the University of Lagos management team, led by Vice-Chancellor Professor Folasade Ogunsola, to the family’s Ikoyi residence in February 2023. The visit recognized not only her role as matriarch of the Adebutu dynasty but also the family’s long-standing relationship with UNILAG through extensive philanthropic contributions.

Prior to Dame Caroline’s passing, Adebutu had also lost another wife, Rosemary Adebutu, who died on Saturday morning, January 9, 2021, from COVID-19 complications. Rosemary, who was the mother of Temitope Adebutu (whose marriage to Jonwo Obasanjo, son of former President Olusegun Obasanjo, controversially ended after barely a year), was reported to have been hale and hearty but suddenly developed a mild ailment with cold and malaria symptoms before her condition deteriorated. She was rushed to St. Nicholas Hospital in Lagos but was confirmed brought in dead.

In interviews, Adebutu has acknowledged having a young wife and has confirmed being “happily married with a host of very successful children.” This indicates that he has been married to multiple women, consistent with cultural practices that permit polygamy. His family structure reflects traditional Nigerian values while maintaining modern business sensibilities.

Despite the personal losses he has experienced, Adebutu has remained dedicated to family values and has ensured that his children receive excellent education and business mentorship, with several of them now running successful enterprises of their own. His commitment to family extends to immortalizing his late mother’s memory through the Alhaja Seliat Adebutu Library at Crescent University and other philanthropic gestures in his parents’ names.

Children and Family Legacy

Kessington Adebutu is blessed with multiple children who have grown into successful individuals in their own rights, carrying forward the family legacy in business, politics, and various professional fields. His most prominent children include:

Oladipupo “Ladi” Adebutu

Born on February 25, 1962, Ladi Adebutu is perhaps the most publicly recognized of Kessington Adebutu’s children. He is an accomplished politician and businessman who has made significant marks in both fields. Ladi was elected to the National Assembly in 1992 at age 30 to represent the Remo Federal Constituency under the Social Democratic Party (SDP), making him one of the youngest representatives at that time.

He is a major figure in the People’s Democratic Party (PDP) in the South-West zone of Nigeria and was the party’s governorship candidate in Ogun State for both the 2019 and 2023 general elections. Despite facing challenges, including alleged political threats and controversies surrounding the 2023 election results, Ladi has remained committed to his political ambitions and loyal to the PDP.

Beyond politics, Ladi is an astute businessman managing JB Farms, one of Nigeria’s largest poultry farms, and a piggery operation with over 23,000 pigs. He also established Solomon Kessington Agro-Allied Limited, which focuses on livestock feed production and agricultural services, demonstrating his passion for food security and agricultural development. In March 2022, he celebrated his 60th birthday with elaborate activities across Ogun State, including symposiums, religious services, and thanksgiving ceremonies.

Olusegun “Segun” Adebutu

Born on May 4, 1974, Segun Adebutu has carved out an impressive business empire distinct from his father’s lottery business. The son of Kessington Adebutu and Caroline Oladunni Adebutu, Segun graduated in Economics from the University of Ibadan and started trading in oil and gas in 2004. His business ventures have grown from small beginnings into a world-class conglomerate with interests spanning multiple sectors.

Segun is the chairman and CEO of Petrolex Oil and Gas, a company currently building the second-largest refinery in sub-Saharan Africa. The project includes a 300-million liter storage facility with 20 storage tanks and plans for a 250,000-barrel-per-day refinery, a 100 MW power plant, a petrochemical plant, a lubricant plant, and a gas processing plant—representing a $5 billion investment in Ogun State’s economy.

He also chairs Bluebridge Marine Ltd, Bluebridge Minerals, Oladiran Agro-Allied Company, and Oladiran Engineering & Trade Ltd. In the entertainment sector, Segun founded Baseline Records Label, which signed notable artists including Skales and Saeon. He is a member of the Board of Premier Lotto and founded the Oladiran Olusegun Adebutu Foundation (OOA) in 2014, focused on economic empowerment, health, community investments, and support for vulnerable women and children.

Dr. Abiola Olorode

Dr. Abiola Olorode is one of Kessington Adebutu’s daughters who has distinguished herself in her chosen field. She was present during the University of Lagos management’s condolence visit to the family following the death of Dame Caroline Oladunni Adebutu in January 2023, indicating her active involvement in family affairs and her respected position within the Adebutu dynasty.

Pastor Mrs. Bolanle Martel-Okoh

Another daughter of the billionaire businessman, Pastor Bolanle Martel-Okoh, combines religious ministry with family responsibilities. She also received the UNILAG management during their condolence visit in 2023, demonstrating the family’s close-knit nature and shared values.

Other Children

Kessington Adebutu also has twins who were celebrated at a lavish Disney-themed birthday party when they turned three in October 2016. The event, attended by celebrities and high-society figures, featured entertainment from hip-hop star Reekado Banks and was graced by prominent guests including Joko Oni, Dupe Oguntade, Sade Okoya, Nike Oshinowo, and Hon. Ladi Adebutu.

The Adebutu children collectively represent a new generation of leaders in business, politics, religion, and various professional fields, ensuring that their father’s legacy of excellence, integrity, and service continues into the future.

Philanthropy and Social Impact

The Kessington Adebukunola Adebutu Foundation (KAAF)

Kessington Adebutu’s philanthropic activities are primarily channeled through the Kessington Adebukunola Adebutu Foundation (KAAF), established to support the less privileged, hospital patients, and students. The foundation operates on the principle that “an educated and healthy soul can never be hungry,” a philosophy that drives its extensive programs in education, healthcare, and community development.

According to verifiable statistics, KAAF spends an average of N150 million monthly on humanitarian activities, making it one of Nigeria’s most active and generous charitable organizations. Long before philanthropy became a public relations tool for wealthy individuals, Adebutu had begun systematically supporting indigent students and hospital patients who had no means to help themselves, demonstrating genuine compassion rather than performative charity.

Educational Philanthropy

Adebutu’s contributions to educational institutions across Nigeria are legendary and highly visible. His donations include:

Universities and Higher Institutions:

  • A multimillion-naira state-of-the-art radio station to Olabisi Onabanjo University, Ago-Iwoye
  • An ultra-modern Research Centre to the University of Lagos valued at over N200 million
  • The Alhaja Seliat Adebutu Library at Crescent University, Abeokuta (2009), immortalizing his late mother
  • The Sir Kessington Adebutu Science Laboratory at Crescent University
  • A N50 million e-library to Baptist Academy, Obanikoro, Lagos State

Secondary Schools:

  • New Remo Methodist High School building
  • New block of classrooms at Gaskiya College, Badiya, Lagos (donated in 2008)
  • Various infrastructure projects at his alma maters and other schools

In recognition of these invaluable contributions to education, Olabisi Onabanjo University (OOU) conferred upon him an Honorary Doctorate degree in Business Administration in October 2015. The University of Lagos also awarded him an Honorary Doctorate degree during its 51st Convocation ceremonies, acknowledging his transformative impact on the institution.

Healthcare Initiatives

Adebutu’s healthcare philanthropy extends beyond monetary donations to include comprehensive health programs:

  • KAAF Medical Laboratory and Maternity Centre at the University of Lagos
  • An ongoing Medical Research Centre at the College of Medicine, UNILAG
  • Premium Health insurance coverage for 35,005 full-time students of UNILAG under the Ilera Eko Telemedicine plan
  • Three telemedicine booths valued at over N200 million for UNILAG (commissioned during the university’s 53rd convocation and Diamond jubilee anniversary)
  • Free medical outreach programs, including one conducted during his 80th birthday at Iperu-Remo, Ogun State
  • Investment in a multi-billion naira multi-specialty medical center to reduce medical tourism

Community Development and Empowerment

Beyond formal institutions, Adebutu’s foundation has empowered thousands of youths across Nigeria through various skill acquisition and entrepreneurship programs. During his 80th birthday celebration, he gave out eight brand new cars and other valuable gifts to loyal customers of Premier Lotto, demonstrating his appreciation for those who have supported his business.

His generosity and philanthropy have earned him numerous chieftaincy titles, including his first ever title “Babalaje of Lagos” (Father of Wealth in Lagos) and his subsequent conferment as “Asoju Oba of Lagos” (Representative of the King of Lagos) by Oba Rilwanu Osuolale Akiolu. These titles acknowledge his kindness, social responsibility, and use of wealth for human capital development.

Cultural Preservation

Adebutu has also contributed immensely to the promotion of Yoruba culture across Nigeria, supporting traditional festivals, cultural events, and heritage preservation initiatives. His respect for traditional institutions is evident in the multiple chieftaincy titles he holds and his active participation in cultural activities.

As a true philanthropist, Adebutu does not discriminate in his charitable deeds based on religion, ethnicity, or political affiliation, touching lives across all divides and earning him respect from diverse communities throughout Nigeria.

Awards, Honors and Recognition

Throughout his illustrious career, Kessington Adebutu has received numerous prestigious awards and honors recognizing his business achievements, philanthropic contributions, and positive impact on Nigerian society:

National Honors

  • Commander of the Order of the Niger (CON) – One of Nigeria’s highest national honors
  • Officer of the Order of the Niger (OON) – Previously awarded before elevation to CON
  • FISM – Fellowship recognition
  • KJW – Additional national recognition

Traditional Titles

  • Odole-Oodua – A highly prestigious Yoruba traditional title
  • Balogun of Remoland – Military title in Remo traditional hierarchy
  • Balogun of Iperu-Remo – Specific recognition from his hometown
  • Babalaje of Lagos – “Father of Wealth in Lagos,” his first chieftaincy title
  • Asoju Oba of Lagos – “Representative of the King of Lagos” (conferred by Oba Rilwanu Osuolale Akiolu)
  • Baba-Oba Akarigbo of Remo – Conferred by His Royal Highness, Oba Babatunde Adewale Ajayi (2018)
  • Baba-Oba Alaperu of Akesan Land – Conferred by His Royal Majesty, King Idowu Basibo (Odoru V), Sagamu (2018)

Academic Honors

  • Honorary Doctorate in Business Administration – Olabisi Onabanjo University (OOU), October 2015
  • Honorary Doctorate – University of Lagos, 51st Convocation ceremonies

Media Recognition

  • Vanguard Personality of the Year – Recognizing his outstanding contributions to business and philanthropy
  • Regular features in major Nigerian publications celebrating his achievements and impact

Presidential Recognition

  • Special birthday messages from Nigerian presidents including President Bola Tinubu, acknowledging his contributions to national development
  • Recognition from former President Olusegun Obasanjo and other political leaders who have graced his celebrations

These awards and recognitions reflect not only Adebutu’s personal achievements but also the broader respect and admiration he commands across Nigerian society, from traditional rulers to government officials, academic institutions to community organizations.

Career Timeline & Major Milestones

YearMilestoneImpact
1935Born in Iperu-Remo, Ogun StateBeginning of a legendary journey
1955Completed secondary education at Remo Secondary SchoolTopped class in School Leaving Certificate
1960sSales Manager at Claffin Chemical LimitedGained business experience and management skills
Late 1960sStarted pooling business as an agentEntrepreneurial journey begins with just 3 pounds
1970s-1990sExpanded pooling/lottery businessBuilt extensive network across Nigeria
2001Incorporated Premier Lotto LimitedFormalized “Baba Ijebu” brand
2013Established Neemtree LimitedStrategic vehicle to invest in Wema Bank
2014Acquired Gateway Hotels, AbeokutaDiversification into hospitality sector
2015Received Honorary Doctorate from OOUAcademic recognition for business contributions
2015Conferred as Asoju Oba of LagosTraditional recognition during 80th birthday
2018Received double chieftaincy titlesBaba-Oba of Remo and Alaperu of Akesan Land
2020sInvested in multi-billion naira medical centerHealthcare sector expansion
2021Lost wife Rosemary AdebutuPersonal tragedy from COVID-19
2023Lost wife Dame Caroline Oladunni AdebutuAnother family loss at age 83
2024Celebrated 89th birthdayContinuing legacy and active business involvement

Business Empire: Companies Owned by Kessington Adebutu

  1. Premier Lotto Limited (Baba Ijebu) – Flagship gaming and lottery company with 200+ principal agents and 16,000+ retail representatives
  2. Arbico Plc – 69.9% stake in construction company
  3. Wema Bank Plc – 28.15% stake through Neemtree Limited
  4. Gateway Hotels, Abeokuta – Hospitality property acquired in 2014
  5. Various Agricultural Holdings – Including oil palm plantations
  6. Manufacturing Interests – Diversified production facilities
  7. Real Estate Holdings – Multiple property investments across Nigeria
  8. Kessington Adebukunola Adebutu Foundation (KAAF) – Charitable organization

Legacy and Continuing Influence

At 89 years old, Kessington Adebutu shows no signs of slowing down or resting on past laurels. His influence on Nigeria’s economy, particularly in the gaming, banking, and philanthropic sectors, remains profound and far-reaching. The “Baba Ijebu” brand he created has become a cultural phenomenon, synonymous with hope, opportunity, and the possibility of life-changing fortune for millions of Nigerians.

His business philosophy centered on honesty and integrity has created a sustainable model that has survived multiple economic downturns and changing regulatory environments. The fact that Premier Lotto, established with just 3 pounds, has grown into West Africa’s largest lottery business demonstrates the power of principled entrepreneurship and strategic vision.

Beyond business success, Adebutu’s most enduring legacy may be his philanthropic impact. Through KAAF’s monthly disbursement of N150 million for humanitarian activities and his extensive support for educational and healthcare institutions, he has touched millions of lives directly and indirectly. His scholarship programs have enabled countless students to access quality education, while his healthcare initiatives have saved lives and improved medical infrastructure.

His children, particularly Ladi and Segun Adebutu, are carrying forward the family legacy in politics, business, and philanthropy, ensuring that the Adebutu name continues to represent excellence, integrity, and service to Nigeria. The Oladiran Olusegun Adebutu Foundation, established by his son Segun, extends the family’s philanthropic reach to new generations.

Successive Nigerian governments continue to seek his counsel and support, recognizing his matchless contributions to the populace and his role as a bridge between traditional values and modern business practices. His ability to navigate Nigeria’s complex business environment while maintaining ethical standards serves as a model for aspiring entrepreneurs across Africa.

Frequently Asked Questions (FAQs)

1. What is Kessington Adebutu’s current net worth?

Kessington Adebutu’s net worth is estimated at between $1.6 billion and $1.7 billion as of 2024, making him one of Nigeria’s wealthiest individuals with interests in gaming, banking, real estate, and other sectors.

2. How old is Kessington Adebutu?

Kessington Adebutu was born on October 24, 1935, making him 89 years old as of October 2024.

3. Who are Kessington Adebutu’s children?

His prominent children include Oladipupo “Ladi” Adebutu (politician and businessman born 1962), Olusegun “Segun” Adebutu (oil magnate and entrepreneur born 1974), Dr.

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