September 21, 2022

How Yinka Ayefele Floated 7 Radio Stations In 7 Years + Why He Is Regarded As Richest Modern Yoruba Musician

It was a ghastly accident in December 1997 that almost claimed his life that got Joel Olayinka Ayefele - then a broadcaster and voice over artiste - confined to a wheelchair. Today, he is regarded as one of the most-successful musicians alive in Nigeria. Yinka Ayefele has even been argued to be the richest modern Yoruba musician. His misfortunes from 25 years ago have been completely wiped out by a massive success in music business, which has now made him a billionaire - though a silent one.
The talented Ekiti-born musician has however been making good of his fortunes. Since luck started smiling on him, Ayefele has been investing heavily in thriving businesses; particularly real estate and his first love - broadcasting. In the last seven years, he has floated seven well established radio stations. His Fresh FM brand, which started off after he obtained the first license from NBC on 30 April 2015. Today, there are now six other independent Fresh FM stations spread across the southwest.
Ayefele now owns Fresh 105.9FM Ibadan (Oyo state), Fresh 107.9FM Abeokuta (Ogun state), Fresh 96.7FM Ado Ekiti (Ekiti state), Fresh 104.9FM Osogbo (Osun state), Fresh 105.3FM Lagos and Blast 98.3FM Ibadan (Oyo state). The latest, Fresh 102.9FM  Akure (Ondo State) started test transmission this week.
Ado-Ekiti
With the development, Ayefele is the biggest player in radio broadcasting in southwest Nigeria. Three of the stations were established this year alone - Blast FM Ibadan in April, Fresh FM Lagos in July and Fresh FM Akure in September.
Abeokuta.
These stations are not just mushroom establishments. They are set up to high standards inside befitting edifices. For instance, Fresh FM Ibadan is the number one commercial radio station in Oyo state. Fresh FM Ado-Ekiti, which took off in 2020 is already taking over the business in the state. The same goes for the ones in other states as well. Ayefele is not just an owner of radio stations, he is an accomplished investor in broadcasting business, with good returns.
Ibadan
In all of these - at 54-the beat goes on for Ayefele's Meryy Makers Band, which has ranked among the most-expensive, most patronized bands by Nigerians with affluence for more than a decade now. Ayefele is booked more than 70% of the days in a week. With a multiple of loyal fans in the country and globally, he has sold out many commercial albums over the years - smiling to the bank each time. Hia dominance on the seen also seem not to fading off anytime soon.