Akin Alabi Net worth 2022, Biography, Cars, Political career – Founder of Nairabet

Akin Alabi is a popularly known Nigeria. Many refer to him as Otunba Akin Alabi. He is a Nigerian internet entrepreneur, politician, philanthropist and author. He is also the founder of the popular Nairabet —Nigeria’s first and largest sports betting website.

Akin Alabi Cars & Net Worth
Akin Alabi Cars & Net Worth

He has ventured into several businesses and has authored a series of business books. In March 2019, he was elected to the House of Representatives as a member representing Egbeda/Ona Ara Federal Constituency under the APC party.

In this article, we gather some interesting information about this entrepreneur and politician you’ll want to know more about.

Akin Alabi Biography

Oloye Akin Alabi

Oloye Akin Alabi was born on March 31, 1977 in Ibadan. He was born as the last child into the family of Chief and Chief (Mrs) Adediran Alabi in Ibadan, Oyo State, Nigeria. For his primary education, he attended Command Children School, Ibadan and the Federal Government College, Enugu for secondary school.

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For his university education, he moved to study at the Polytechnic Ibadan to study Business Administration. There, he obtained his Higher National Diploma and proceeded to study Marketing at the University of Liverpool, UK. Akin Alabi also holds a certificate in Intellectual Property Strategy from Havard University, Boston, US.

Akin Alabi Personal Life

Akin Alabi is married to Damilare who is also an information marketer and they are blessed with children.

Akin Alabi playing football at the pitch he commissioned
Akin Alabi playing football at the pitch he commissioned

Akin also loves football and he is a staunch supporter of the Shooting Stars Sports Club, Ibadan and a season ticket holder of Manchester United in the English Premier League.

Akin Alabi Career

Akin’s career started with writing and selling books in 2003. Later, he launched his seminar and training company where he taught and consulted for startups. Subsequently, Alabi ventured into publishing. He was publishing Income, a business opportunity newspaper for small business owners. Later on, he started publishing World Soccer News, a weekly sports newspaper.

How To Sell To Nigerians for Akin Alabi

In 2009, he set up Nairabet where he stayed as the founder and CEO until he resigned as the CEO in 2018 due to his political aspirations.

Akin Alabi founded NairaBet
Akin Alabi founded NairaBet

The Nairabet business idea came to Akin during his visit to the UK. While Akin was in the UK, he went to a betting shop along with his brother who introduced him to the game. He loved the game and considered creating the platform in Nigeria. He was more convinced to create the platform because he knew that Nigerians love football, especially European football.

Since its creation, Nairabet has consistently grown and according to the ranking site Alexa.com, Nairabet is the most visited African sports bookmaking website. It is one of the thriving sports betting portals with headquarters in Lagos and has over 1,000 outlets across Nigeria.

Since starting Nairabet, Akin Alabi has ventured into other businesses. For instance, he is also the founder of Nightlife.Ng, an online platform that reports on the nightlife industry in Nigeria. He is also the founder of Over The Top Entertainment, a record label that has signed some ace Nigerian musicians like Skuki, etc.

Akin Alabi Political Career

Akin Alabi Political Career
Akin Alabi Political Career

His interest in politics had been brewing for a while but it became manifest in 2019 when he emerged the winner of the March 2019 House of Representative election under the umbrella of the All Progressive Congress (APC) political party. Currently, he is the House of Reps member representing Egbeda/Ona Ara Federal Constituency in Oyo State.

Akin Alabi has also gained several praises and recognitions for both his outstanding business ideas and his philanthropy. Some of them include;

  • Appointed as the Mogaji of Ajiwogbo compound in Ibadan (2016) by the Olubadan of Ibadan
  • National Vice President of the Information Marketers of Nigeria Association
  • President of the National Bookmakers Association
  • Honoured a chieftain title as the Otunba Atunlushe of Igbole Ekiti by the Olugbole of Igbole Ekiti, HRM Oba Emmanuel O. Ajayi Adetiloye II.

Akin Alabi Cars

Although Akin Alabi is not one to advertise his wealth, he still has several cars that belong to him. Some of these cars are;

  • Toyota Hilux

 

The Toyota Hilux has become one of the most common cars you will find in the possession of many wealthy Nigerians. Akin Alabi is not left out as he has his own share of the Hilux. The Toyota Hilux vehicles are produced and marketed by Japanese automobile manufacturers.

For many wealthy Nigerians, seems like a necessary vehicle to own. Why? It announces class and is also durable for every Nigerian road. To own a Toyota Hilux currently in Nigeria, the price starts at 12 million naira upwards, depending on the model you’re going for.

  • Toyota Land Cruiser GXR

 

The Land Cruiser GXR is a remarkable vehicle from Toyota. It comes with a reinforced spring, stabilizer bar and independent suspension. It’s an 8-seater, air-conditioned car and makes a wonderful purchase.

Like other Toyota products, the GXR is also high on performance and comes with robust features. In addition, it’s a bulletproof vehicle that can prevent attacks from rifles. The price of this car is valued from 70 million naira.

  • Toyota Matrix
Akin Alabi Toyota Matrix

Akin also has a Matrix car that was reported stolen some time from where it was parked. After putting out the word that it was stolen, the car was shortly found two streets away from where it was stolen.

Akin Alabi Net worth

 

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A post shared by Oloye Akin Alabi (@akinalabi)

Akin Alabi Net worth

Going by the value of his companies, a politician, Akin Alabi is extremely wealthy, he has a net worth estimated at $47 million. A post on Nairaland.com has also previously mentioned him as one of the five richest internet entrepreneurs in Nigeria after Shola Akinlade – Paystack founder.

Conclusion

Akin Alabi is known for constantly sharing soundbites about managing a small business and growing wealth. As such, many Nigerians, find him as one of the reputable men in the Nigerian business industry and the political scene today.

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