Fredrick Obateru Akinruntan

Fredrick Obateru Akinruntan is a Nigerian monarch and oil magnate who is the current

Obateru is the first black person to buy the 2014 model of Bentley automobile.^[5][6][7] In July 2013, in an interview with The Sun, Obateru said: "The first time I saw a car was 1961 in Sapele. At that time, Sir Festus Okotie-Eboh had a hotel in Sapele, Waterside Hotel. It was the first time I saw a hotel in my life. We used to describe hotels as bars. That was the first time I knew the difference between a hotel and a bar."^[8]

Background

Obateru was born in 1950 into the royal family of Sir Frederick Adetolugbo at Ugbo, a riverine area in Ilaje. He is the fourth child of a family of eight but lost his father in 1964 when he was 14 years old.^[9]

In 1982, there was a prophecy that Obateru would become the Olugbo of Ugbo Kingdom, a prophecy he never took seriously. Shortly after this prophecy, a chieftaincy title peculiar to him as the next Olugbo was conferred on his younger brother. This resulted in a lawsuit against the then-Olugbo by another royal family in the same lineage who demanded that he should be dethroned with the claim that his family had occupied the seat for over 200 years. The then-King lost the case and Obateru was appointed as the King in 2009, in accordance with the culture and traditions of Ugbo Kingdom.^[10][11]

Obat Oil

Obateru established Obat Oil in 1981. Today, the company has more than 50 gas stations across the six