To Get Personalised contents and be able to add items to your favourites, please Sign In or Sign Up          

Bolu Akin-Olugbade’s Obsession With Rolls Royce

News » Lifestyle


Prince Bolu Akin-Olugbade gets what he wants—not by flaunting airs, throwing tantrums or haughtiness, but with captivating shyness, an unfaltering courtesy and a conviction that convinces. Thus at 24, he became a millionaire in 1984. However, his ascendance to the top was hardly borne on the wings of his privileged background; if it had anything to do with his pedigree; the details are probably too negligible to be noted.

Prince Bolu, in a recent interview, disclosed that he was forced to be self reliant and establish his drive for financial independence courtesy his father, late Chief B.O. Akin-Olugbade’s display of tough fatherly love to him. His father, revealed the billionaire businessman, had two American cars that were giving him problems, so after abandoning them in the garage for a long time, he decided to give them to him.

Ecstatic, Prince Bolu took possession of the choice automobiles only to discover that they were more of a liability than he could ever imagine; the cars were fuel guzzlers and in order to cope with the financial constraints imposed upon him by ownership and running of the two automobiles, he approached his father to request for a raise in his allowance. He complained that he needed the raise in order to maintain the cars efficiently. But to his chagrin, his father bluntly declined to grant his request, asking him to deal with the problem.

That singular act was emblematic of his father’s firm resolve to encourage his children to be responsible and self reliant. According to Prince Bolu, his father persistently told all his children that he had no inclination of bequeathing anything more than sound education to them. “My father made it known to us that he wasn’t going to leave anything for his children and may be, my brothers and sisters didn’t take him seriously, but I did. So, I was determined to make my own money,” he said

Hence the Prince had to get creative and devise ingenious means of dealing with his problems; and that was how the entrepreneurial spirit in him was born. Despite being born into a privileged background – his father, Chief B.O. Akin-Olugbade was a foremost businessman and politician who was a leader of the opposition in the Federal Parliament – Prince Olugbade had to hustle and burn sweat to become successful and ascend the corporate height that he currently occupies.

Being ingenious meant he had to tap into his father’s rich business contacts. Prince Olugbade was fully aware of his father’s esteemed position as a Director in a Cement Company hence having established contacts and curried favour from his father’s business associates, he began to solicit for companies who wanted cement and he began to supply them. In no time, he had expanded his business dealings to tomato puree and rice supply. Somewhere in the course of his hustle, he chanced on his first million naira. It is noteworthy though that at the time he hit his fortune, having N1million was akin to owning an equivalent of $1million. And he was just 24. That same year, he got married to Oladunni, his wife of over 30 years.

Besides his enviable business acumen and matrimonial bliss, Prince Bolu flaunts an expensive taste in fashion and lust for luxury cars. After buying his first Rolls Royce in 1984, he developed an abiding love for the British symbol of elegance and class that he has since acquired nine of the choice automobile brand including the two latest Rolls Royce Phantom models. He said: “I have different concepts of how I spend money. I spend money on cars because I have always loved cars. I bought my first Rolls Royce in 1984 and now, I am on my ninth Rolls Royce. I believe in dressing well and I travel a lot.
Although his cars come in a variety of colours, one striking feature of the vehicles is the fact that they all have similar number plates inscribed with his first name: Bolu.

Prince Bolu professes a similar but less intense love for luxury wristwatches. As you read, he owns an impressive closet of the most expensive and rare collection of contemporary and vintage timepieces.
“There is a Yoruba Proverb that says, if you are going to eat a frog, eat the one that has eggs, so if I am going to buy a car for instance why not buy the best,” he said, justifying his love and penchant for acquiring luxurious cars and pricey timepieces.

Ascribing Prince Bolu’s rise to the top to his enviable and impressive pedigree alone however, would be tantamount to lumping him in the same divide as several spoilt and over-pampered silverspoon kids; the Prince is remarkably different. Born on April 2, 1956 into the household of Chief Akin-Olugbade, Prince Bolu is no stranger to wealth, however, his journey to affluence and acclaim was borne on the wings of his relentless will to develop himself, establish his independence and improve his lot without banking on the overwhelming array and import of his father’s wealth alone.

Prince Bolu prepared himself really well by attending Ivy League schools where he acquired top quality education. He attended Corona School, Yaba, King’s College, Lagos, London University (LL.B (Hons.), University of California (Masters in Law) and Cambridge University where he got his Phd. in Company Law. His business interests span law, property development, construction, manufacturing, logistics, distribution, maritime and offshore services, investment banking and many other areas.

Having equipped himself with quality education and corporate boardroom exposure, he decided to dabble into politics spurred by an overwhelming ambition to serve and improve the lot of his people. Thus he sought to contest for the nation’s presidency twice; the first time he tried was in 1992 but he had to step down and let go his ambition because late philanthropist and businessman, Chief Moshood Abiola, was vying for the same office at the period.

Again he sought to try his luck in 2003 but once again, the Ogun State native had to kiss his ambition goodbye due to the emergence of former President, Chief Olusegun Obasanjo, as a contestant for the same office.
Prince Bolu disclosed that his interest in politics was inspired by the endemic poverty around him and the fact that he believes that Nigerians deserve better quality of life and leadership. According to him, life is hardly about making money and acquiring riches alone but using such riches and money to impact lives positively.

The suave Prince, who effortlessly occupies a top spot in the league of Nigeria’s deep pockets, experienced a rare epiphany in life when he was diagnosed as having a cancerous tumour. Although it was eventually discovered to be a false alarm, the scary experience drew Prince Bolu closer to God. However, every generation parades its bracket of pea-shooters desperate enough to shoot at Gibraltar. Often times they fail, not because they lack the guts to do so but because their contexts of forces oftentimes serve as mere battle aids. Bolu is remarkably different. Unlike his peers, he is patient and he slings no random pea shots at Gibraltar. The most impressive aspect of his ascendancy to the top is the manner in which he seeks and attains self-actualisation - Like a champion, it’s quite extraordinary. He just lets his lifestyle do the talking.

On the strength of his sterling achievements and citizenship, the illustrious son of Abeokuta, Ogun State was  honoured with the title of Aare Onakakanfo (Chief of Defense of Owu Kingdom).

As the traditionally crowned Generalissimo of Owu Kingdom, Prince Bolu understands that he represents a symbol security and strength to his people. He professed unwavering love and compassion for them stressing that guaranteeing their wellbeing and security remains his utmost objective in life. Such infectious humaneness epitomizes Prince Bolu’s capacity for love and pursuit of the good of others; and this much his wife and three strapping sons, can unhesitatingly attest to.

Article Credit: Thisdaylive

Updated 4 Years ago

Find Us On Facebook

Tags:     Prince Bolu Akin-Olugbade     B.O. Akin-Olugbade     Rolls Royce