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FACT CHECK: Does Olamide Badoo own Rain Oil?

Claims have emerged on X, the microblogging platform, saying the popular rapper, Olamide Adedeji (a.k.a Badoo) is the owner of Rain Oil Limited—owners of Rain Oil filling stations across the country.

Rainoil Limited
Rainoil Limited

Claim

Claims have emerged on X, the microblogging platform, saying the popular rapper, Olamide Adedeji (a.k.a Badoo) is the owner of Rain Oil Limitedowners of Rain Oil filling stations across the country.

Two X users, Omo Badoo @jbrandy_YBNL claimed that aside from music and owning a record label, YBNL boss, Olamide’s filling station called Rain Oil.  

Also, TipsyTalkShow @Tipsytalkshow claimed under a thread titled “Some Nigerian Artists side hustles” that “Olamide Adedeji known as Olamide Badoo owns a petrol station at Bariga, Lagos State. Aside from music and owning a record label, YBNL boss, Olamide’s filling station called Rain Oil”.

These two posts are already generating a lot of reactions among Nigerians on the platform and may become a piece of viral fake news.

We also noticed that the news was published three years ago by Opera News but without a valid claim, as the media outlet used it reportedly in the story.

Verification

DailyAgent Check deployed a keyword search on Rain Oil Ltd and we found out that it was registered and incorporated with the Corporate Affairs Commission (CAC) on November 16, 1994. The company’s directors listed include Gabriel Ogbechie, Godfrey Ogbechie and Chukwudiebele Ogbechie, according to NG-Check.com.  

According to the company website, it was founded by Gabriel Ogbechie, who is an engineer.

Ogbechie started the company at the age of 30 years after working as a factory engineer between 1989 and 1991 and subsequently joined PricewaterhouseCoopers, a leading firm of Chartered Accountants and Management Consultants. He also spent four years at Ascon Oil, heading the sales and operations unit.

However, Rain Oil operates a franchise model that allows other smaller independent fuel marketers to freely join the Rainoil brand and enjoy some of the strengths that come as a result of affiliating with Rainoil.

The model was launched in 2021 according to a statement by the company and published by BusinessDay.

The statement reads, “Smaller independent fuel stations that join the Rainoil brand through the franchise model stand to benefit a lot from Rainoil’s offering, top of which is the deployment of Epump automation technology provided by Rainoil’s technology partner Fuelmetrics Limited.

Verdict

Olamide Badoo might actually own a filling station affiliated with Rain Oil Company. Therefore, it is half true but is completely false to say he is the owner of Rain Oil Limited.

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