Sources That Contribute to Yinka Ayefele’s Net Worth and The House He Lives In

With a net worth of about $650,000, Yinka Ayefele is a top shot in the Nigerian gospel music industry. Among others, his album titled Bitter Experience which was released in 1998 was life-changing, bring him fame and touching listeners mainly because of his tragic experience with a motor accident. Although most of his songs are in Yoruba and the country is made up of so many ethnic languages, this has not hampered his music’s popularity across the country. His songs are widely heard across Nigeria on various radio stations.

In addition to being a gospel musician, Yinka is also a music producer, radio presenter, and founder of Fresh FM radio station in Ibadan, the Southwestern region of Nigeria.

How Yinka Ayefele Accrued His $650,000 Net Worth

1. He Is Paid Millions To Perform At Shows

The sensational singer charges N2 million to N3 million for invitations within Lagos and its environs, and charges N5 million to N6 million for programs outside the Southwestern part of the country, depending on the season. Being a musician whose music is also appreciated internationally, he charges above $10,000 for any event outside the country.

 

2. The Musician Generates Huge Amount From His Music House

Being a notable musician, Yinka makes a huge chunk of his net worth through his music career and music house. The musician’s music house consists of his office, studio, and radio station – Fresh FM 105.9 which deals mainly on lifestyle and entertainment. The radio station ranks as one of the biggest radio stations in Ibadan – it was licensed in April 2015. The radio station, which was started by the motivation of a friend who introduced him to internet radio, also functions in Ado Ekiti as well as Abeaokuta with aspirations of spreading to other states of Nigeria. Though the amount he makes from the music house is not known, he is seen to be pocketing a huge amount of money from the venture.

3. He Owns A Hotel In Ibadan

Yinka Ayefele is not just into music as he is also into the hospitality industry. He owns a hotel in Ibadan called the Down Town Hotel which has about 32 rooms. This hotel was built in 2012 and has greatly contributed to his net worth.

4. The Musician Previously Worked As A Journalist

Before venturing into music, Yinka worked as a freelance journalist at the Federal Radio Corporation of Nigeria in Ibadan. He later joined Radio Nigeria in 1990 before his car infamous car accident. Though his earnings as a journalist in the radio stations that he worked with are not public knowledge, his impact was notable.

Yinka Ayefele Ventured Into Music in 1997

Yinka is from Oyo State in the Southwestern region of Nigeria. He is the first child in the family of Chief Joshua Ayefele and Mrs. Abigail Ayefele. His love for music started in his secondary school days when he started playing the guitar and trumpet. Not knowing what his future holds, Yinka thought he will find himself in the financial sector working in one of the banks in Nigeria but fate found him in the music industry.

After his tertiary education, the robust dreams of being a figure in the corporate world redirected him to journalism, where he has worked as a radio producer for jingles and tunes under the Federal Radio Corporation of Nigeria in Ibadan, the capital city of Oyo state.

Yinka Ayefele kicked off his music career in 1997 when he survived an accident that almost took his life and confined him to a wheelchair. He used the ugly incident as an inspiration to launch his gospel music career.

His Music Credits

  • Bitter Experience– 1998
  • Sweet Experience– 1999
  • Something Else– 2000
  • Divine Intervention– 2001
  • Fun Fair– 2002
  • Life After Death– 2003
  • Aspirations– 2003
  • Fulfillment– 2004
  • New Dawn– 2005
  • Next Level– 2006
  • Gratitude– 2007
  • Absolute Praise– 2008
  • Transformation– 2009
  • Everlasting Grace– 2010
  • Prayer Point– 2011
  • Goodness of God– 2012
  • Comforter– 2013
  • Overcomer– 2014
  • Upliftment– 2015
  • Fresh Glory– 2016
  • Living Testimony– 2017
  • Favor– 2018
  • Beyond The Limits– 2019
  • Ekundayo (Exhilaration)- 2020

Awards and Recognitions

This extraordinary musician has accorded to himself so many awards and recognitions, nationally and internationally. Yinka won the Entrepreneurial Awards by the City People in 2003. In 2011, he was named a Member of the Order of the Niger by the then Nigerian President, Goodluck Ebele Jonathan. He won the Nigerian Broadcasters Merit Award for Presenter Extraordinaire 2015, a special recognition award at the Inspiration Awards of Excellence which was held at the UNESCO building in Paris, France 2018. As a patriotic citizen of the country, he was named the Youth ambassador of the Independent Electoral Commission (INEC) in 2018.

The musician has been an inspiration to many people and has been recognized for it in the Special Recognition Awards, Inspiration Awards of Excellence which he received in 2019. The musician is not only doing mighty works in the music industry but also in the aspect of journalism as his radio station was recognized for its works, bagging the Best Radio Station of the Year in Nigeria Media Nite-Out Awards in 2019. Yinka also won the Heritage Awards in 2019 as well as the Ekiti Cultural Ambassador Award which was given by the Ekiti State Government and the 23rd City People Magazine Awards for Excellence in July 2020.

A Summary of His Awards

  • Entrepreneurial Awards- 2003
  • Member of the Order of the Niger- 2011
  • The Nigerian Broadcasters Merit Award for Presenter Extraordinaire- 2015
  • INEC Youth Ambassadors- 2019
  • A Special Recognition Award at the Inspiration Awards of Excellence- 2019
  • Heritage Awards- 2019
  • Ekiti Cultural Ambassador Award
  • 23rd City People Magazine Awards for Excellence- 2020

The Issue That Led To The Demolition of Yinka Ayefele’s Music House

The Music House located in Oyo State estimated to be worth millions of naira housed the Fresh 105.9 FM station, a music studio, and other businesses. The controversy that led to its demolition can be traced back to 2012 when the then Governor Abiola Ajumobi threatened to demolish the building, claiming it will obstruct the four-lane dualization of the road which resulted in the demolition of the fence.

The edifice was approved to be a business building in June 2008 and was given a deed of assignment and approved building plan. Ayefele stated that an Oyo State government agency came on 26th June 2018, with a demand to evaluate the building which he did not object to, after which they came up with a claim that there is no approval for the radio tower in the building. The controversy lingered to another claim that since they deviated from the original plan, that the building is no longer approved.

It was also noted that the Commissioner for Information requested that the station should sack some of their reporters for being too harsh on the government, but that was neglected by the radio station. A part of the house was finally demolished in August 2018 which the musician stated was politically motivated.

How The Incident Was Resolved 

As it was claimed that the reason for the partial demolition of the building was that it violated the original plan and that the present plan poses a threat to the safety of people using the road, the Ajimobi government was heavily criticized. Many indicated that it was personal and not in the interest of the public.

To resolve this, Yinka Ayefele visited the Oyo State Governor’s Office, accompanied by the Alaafin of Oyo, Oba Lamidi Adeyemi III, and other titled and prominent men in the state, seeking a peaceful agreement on how to resolve the problem. They had several hours of closed-door meetings to iron out the issue which in the end, the governor agreed to reconstruct the building.

In response to the resolution terms reached by Yinka Ayefele and the Governor of Oyo State, the State Government commenced the reconstruction of the building in November 2018 hoping to finish it up before the end of 2018. It was also confirmed on Yinka’s Instagram page four months later that the reconstruction has been completed as he was seen thanking the Governor for completing the project.

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