NEWS: Displacing Dangote as Africa’s richest man, my dream says Oil Money


Despite his incredible life story as a hugely successful businessman, Event management tycoon, Alafaa Kariboye Igbo fondly called Oil Money is not resting on his oars as he sets his sight on taking the crown of the continent’s wealthiest businessman from Alhaji Aliko Dangote.

The trio of Nigeria’s leading businessmen such as Aliko Dangote, Femi Otedola and Mike Adenuga has featured prominently on Africa’s rich list in the past ten years, with Dangote, the Sugar, Confectionary and Cement merchant, Dangote unwilling to cede the first spot, at least for now. But taking the first spot on the leg is the dream of Oil Money in reminding whoever cares to listen that with divine help, he would become Africa’s golden boy in the next few years.

“I see myself being enlisted on Forbes African richest list soon. I am working towards that and I believe God won’t let me down,” he told his interviewers recently when pressed for an answer to growing speculations that he is gunning to take the shine off Dangote.

Born in Buguma City in Rivers State, to the family of Alafaa , Oil Money boss, an alumnus of the London University also disclosed that venturing into showbusiness is simply the latest development in his effort at expanding his business empire.

Setting up the Oil Money Records in 2021, the United Kingdom-based business magnate says there is more in the offing I’m the months and years ahead. “There is more to come. It’s just a matter of time, other plans are on the way and will soon mature and unravelled,” he hinted.

Oil Money’s record label has been on the lips of big players in the music industry since its launch earlier this year. Basically, the platform is not primarily to earn Oil Money megabucks only but “The label is set up to assist talented young and up-and-coming artists, a platform to achieve their dream to become global brands,” he says.

According to Oil Money, the label which became operational in March 2021 already has two artists in its stable. “We have Jaydboy and Clova Fresh. But as time goes on, more artistes will sign on to the label,” he said.

For young musical stars desirous of knowing how the label settles for artistes on its stable, Oil Money had this to say: “We signed artistes for their uniqueness and creativity,” stressing, “We will be pushing all genres of music, all that matter is the uniqueness and creativity of the artistes. We hope to have made at least five superstars in the entertainment industry in the next five to 10 years.”

He didn’t stop there as he maintained that “The vision of Oil Money Record is to take over the global music scene by nurturing and promoting artists that would not be limited to one country or continent, but rather, globally accepted.”

Within a few months of operation, Oil Money has seen a lot of opportunities enough to convince him that he ought to have started the record label sooner than he did. Nevertheless, he is wired to churning out great artists year in, year out on the platform of Oil Money Records.

At the outset prior to the establishment of the record label, showbiz was somewhat a herculean task but not anymore as Oil Money says that “Way back, it was stress but now that I have a working team, everything is perfect.

For him, the crown of the best musical label is not an obsession. Rather, the biggest motivation is seeing set goals realized. “We don’t believe in being the best but with simplicity, our aims would be achieved.

Oil Money has not ruled out accepting a political appointment but says the idea would be to reach out to the poor and the needy.

“Sure I will accept it (political appointment) and use the office to assist the people,” Oil Money pledged.

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