Kibet beat about 300 marathoners on Saturday morning to win the 42km race.
He will be claiming the grand prize of $50,000.
The 39-year-old finished at 2 hours, 14 minutes and six seconds to best Dekeba Shefa of Ethiopia and Kenya’s Bernard Sang who finished second and third respectively, and will go home with $40,000 and $30,000 respectively.
Alemenseh Guta of Ethiopia was the first woman to cross the finish line, followed in second place by Kebene Urisa and Kenya’s Naomi Maiyo in third place.
The winners of both the men and women’s races qualified for marathon event at the 2024 Olympics in Paris.
Felicia Adetutu finished 10th in the women’s race and became the first Nigerian woman to cross the finish line.
She earned $2000 and N3 million respectively for both finishes.
The 42km race began at the National Stadium in Surulere and ended at the Eko Atlantic City in Victoria Island.
The annual event was recently upgraded by the world athletics body to a gold label; less than eight years after its maiden edition.
Geleta Ulfata of Ethiopia won the 2022 event while Emmaneul Naibei and David Barmasai won the 5th and 6th editions of the Access Bank Lagos City Marathon respectively.
