Metro & Crime

From Humble Beginnings, Alafaa Kariboye Igbo rises to Global Stardom


Born in Buguma, Rivers State, South-south Nigeria on May 21 1981, Alafaa Kariboye Igbo did not think anything less than to become a successful businessman in life.

That was the reason he set out his life from childhood knowing fully well that he must work hard to fulfil his heart’s desire, and it is not surprised to see him ranking among the Nigerian billionaires today.

Kariboye-Igbo, popularly known as ‘Oil Money’ is on No. 3 among the richest Nigerians in 2021 and has also featured prominently on Wikipedia’s Nigerian billionaires’ list for 2020 and 2021.

To get to this height, Alafaa Kariboye Igbo diversified his business interests in many fields which include real estate, oil and gas, auto dealer, entertainment and philanthropism.

The 40-year-old Kariboye Igbo, is one of Nigerians in the diaspora, who have come through thick and thin to become successful and accomplished through hard work and perseverance.

From a very humble beginning, he has been able to develop himself into a result-oriented entrepreneur with a clear and defined mindset to actualize his dreams.

His love for the empowerment of Nigerian youths prompted him to set up Oil Money Records with the mandate to make know the young artists, bring them from the obscure to the world’s limelight, manages the development of songs, production of music, manufacturing of merchandise, creative marketing and distribution of the products it creates.

No doubt Oil Money is now a renowned figure in the music and recording industry, reputed for his wide expertise in the creative sector that has taken the Nigerian brand to the forefront of the global scene.

This, however, informs his ambition to make Oil Money Records bigger and influential while churning out talented stars for the industry.

“Our desired goal is to operate with a high standard of excellence in business organisation and effectively manage music licensing and copyright processes, song promotion, royalty collection, and key partnerships around the world,” Alafaa Kariboye Igbo told journalists during a recent interview.

Oil Money has grown to be one of Africa’s most exquisite personalities and a young man with vast connection which cut across status, religious and ethnic backgrounds in Nigeria. His philanthropic activities have redefined humanitarian works among Nigerian rich because he is known to be a man whose love for the less privileged knows no bound.

Alafaa Kariboye Igbo is defined by his uncommon altruism, a passionate giver. He set up Oil Money Foundation in November, 2020, and till date, the Foundation has impacted positively on many poor Nigerians.

He believes that “philanthropy is truly complex, but I am aware that people face difficult choices and obstacles along the way, so I try to lend a hand and assist them to scale those hurdles of life and give impetus to their dreams.

“As a public figure, I receive thousands of messages daily. I do a lot of giveaways on Instagram and also privately respond to people who reach out to me for help. Still, I can hardly reply to everyone. I am focused on providing empowerment for young people, anything that will give young people leverages in life.

“I believe that any assistance I render to any person improves the lot of humanity in general,” said Oil Money, who studied and graduated from London University and is currently living in the United Kingdom with his family.”

As a fulfilled businessman, he has cause to thank God today for his rise to the stardom.

“I thank God because He solely responsible for my success and made me what I am today, where others failed, I survived. It is God’s doing, not my power,” saidAlafaa Kariboye Igbo

Kariboye Igbo’s foray into entertainment in Nigeria has been a game changer and has greatly affected the fortune of the music industry in Nigeria, as his Oil Money Records has been able to discover young artists, bring them from the obscure to world’s limelight, manages the development of songs, production of music, manufacturing of merchandise, creative marketing and distribution of the products it creates.




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