In a country where many entrepreneurs choose familiar paths and predictable returns, Kunle Soname has spent decades pursuing opportunities in some of Nigeria’s most difficult and complex sectors. From sports betting and aviation to football and infrastructure, his career reflects a willingness to confront uncertainty, navigate institutional weaknesses, and invest where others see insurmountable obstacles. Yet beneath the businesses, investments, and public profile lies a deeper story, one about persistence, belief in the Nigerian project, and the personal sacrifices required to build enduring institutions in challenging environments.
Speaking on ONE2ONE, Soname offered a rare and candid reflection on entrepreneurship, regulation, risk taking, societal responsibility, and the emotional realities of building businesses that operate within complex systems. His journey reveals not only how industries evolve but also how individuals shape and are shaped by the environments in which they build.
For many Nigerians, Soname’s name is synonymous with Bet9ja, one of the country’s most recognizable betting brands. Yet he insists that the success of the business was never simply about introducing sports betting to Nigeria. “Sports betting was never novel in Nigeria,” he explained. “We met other operators already in the market. We just found a way of doing things differently.” The difference was deceptively simple but transformative. While competitors paid agents commissions based on the bookmaker’s winnings, Soname reversed the model. Agents were compensated for the volume of work they performed rather than the outcomes of bets.
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The innovation shifted risk from agents to the company itself. “We are the ones licensed to take the risk,” he said. “The agents have done their work. Whether the bets win or lose should not be their problem.” That single adjustment helped create a more sustainable retail network and contributed to the rapid growth of the business.
Yet as sports betting expanded across Nigeria, particularly through digital platforms, so too did concerns about addiction, financial vulnerability, and the social consequences of widespread gambling. Soname does not dismiss those concerns. Without hesitation, he acknowledged that betting can become addictive and that irresponsible gaming can have devastating consequences for individuals and families. “We cannot close our eyes to the consequences of irresponsible gaming,” he admitted. At the same time, he argues that the industry has also created opportunities, pointing to countless stories of individuals whose winnings transformed their lives.
For him, the central challenge is balancing opportunity with responsibility. “Sports betting is meant to be leisure and entertainment. It is not a way of life. It is not a source of livelihood.” The conversation reflects a broader tension confronting regulators, operators, and society itself: how to manage industries that provide economic value while carrying significant social risks.
If betting represents one side of Soname’s entrepreneurial story, aviation represents another entirely. Few industries are more operationally demanding, capital intensive, or vulnerable to external shocks than aviation. Yet Soname entered the sector not because it promised exceptional returns but because he believed it addressed a critical national need. The inspiration came from an ordinary experience. A technician traveling from Lagos to Abuja required more than thirty hours on the road simply to inspect a problem and return home. For Soname, the inefficiency was unacceptable. “No economy can grow like that,” he recalled.
His original vision was to build a genuine low cost airline capable of making air travel affordable for millions of Nigerians. He believed the fundamentals existed: a large population, a vast geography, inadequate road infrastructure, and numerous airports. But reality proved more complicated. It quickly became apparent that the economic environment lacked many of the structural conditions required for a true budget airline model to thrive. Rather than abandon the venture, Soname adapted. The result was a hybrid model that balanced affordability with the operational realities of Nigeria’s aviation sector.
Even so, he remains realistic about the industry’s challenges. “Aviation is not where I go to make money,” he said. Instead, he views the sector as an economic catalyst capable of creating jobs, enabling commerce, and connecting communities. His perspective reveals a broader philosophy that runs through many of his ventures: businesses should create value beyond financial returns. That philosophy is tested constantly by external forces. Global oil price fluctuations, geopolitical conflicts, foreign exchange volatility, and infrastructure deficits all directly affect the viability of Nigerian airlines.
At one point, jet fuel prices surged from under ₦1,000 per litre to more than ₦2,400 per litre within months, dramatically increasing operational costs across the industry. For Soname, such volatility underscores a larger lesson about Africa’s relationship with global systems. “Africans must invest in Africa,” he argued. “We cannot continue waiting for others to come and build for us.” He points to business leaders willing to commit capital locally as examples of the kind of long term thinking required to strengthen the continent’s economic resilience.
Yet for all the challenges of betting and aviation, Soname admits that football has been his greatest emotional test. His passion for the game extends far beyond business calculations. It is personal, deeply emotional, and often unpredictable. “Football can be extremely emotional,” he said. Unlike other ventures where losses can be analyzed through financial metrics, football involves identity, community, and dreams. The highs can feel transcendent. The lows can be deeply painful.
That emotional investment helps explain why one institution stands above all others in Soname’s vision of legacy: Remo Stars F.C. When asked what he hopes will still exist fifty years from now because he was here, he did not mention betting, aviation, or business empires. His answer was immediate: “Remo Stars Football Club.” The response offers a revealing insight into how he measures impact. For Soname, legacy is not necessarily about wealth accumulation or corporate success. It is about creating institutions that endure.
That theme resurfaced when discussing why many successful businesses in Nigeria fail to outlive their founders. His answer was straightforward: governance. Strong institutions require structures that transcend individuals. Without governance systems, even the most successful enterprises struggle to survive generational transitions. It is a lesson he continues to apply within his own organizations. Behind the public achievements, however, lies a more personal story of sacrifice. The greatest cost of success, Soname revealed, has been time with his family. While his family lives abroad, his commitment to building businesses in Nigeria requires him to remain largely at home. Not seeing his children regularly remains the most significant price he has paid. “Family is everything,” he reflected.
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Yet despite the sacrifices, setbacks, and frustrations, Soname remains an unwavering believer in Nigeria’s future. When many of his contemporaries left the country in search of opportunities abroad, he chose to stay. “I have always been an ardent believer in the Nigerian project,” he said. That belief has sustained him through economic downturns, industry disruptions, and the inevitable challenges that come with building in difficult environments. At the core of his philosophy is a simple principle: persistence.
For Soname, success is rarely about extraordinary talent or perfect timing. It is about staying committed when circumstances become difficult. “Persistence,” he said, “is the single ingredient.” In many ways, that word encapsulates his journey. Across industries often defined by uncertainty, regulation, volatility, and public scrutiny, Kunle Soname has continued to build not because the path is easy, not because the rewards are guaranteed, but because he believes that lasting institutions, thriving communities, and stronger economies are created by those willing to remain in the arena long after others have walked away.
