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I learnt my entrepreneurial acumen from my mother –Taiwo Afolabi

Dr. Taiwo Afolabi, SIFAX boss

Dr Taiwo Afolabi, the enigmatic founder and Group Executive Vice-President of SIFAX Group, is a mercurial entrepreneurial genius.

From the little beginning as a freight forwarding company in 1988, he has nurtured SIFAX into a gigantic conglomerate which has diverse interests in shipping, haulage, oil and gas, financial services, ground handling operations and hospitality.

Dr Afolabi, whose philanthropy is legendary, is 60 years old today, Friday, April 29th, 2022.

In this sit-down interview, Dr Afolabi takes us through his 60 years of eventful and impactful journey, his early life, his business tutorials, his daring venture into the world of business, his philanthropy and his family.

Tell us about yourself:

I am Dr Taiwo Afolabi, the founder and Group Executive Vice Chairman of SIFAX Group.

Obviously, I am an entrepreneur, business leader, mentor and many more.

I am an indigene of Ogun State and by the grace of God, I am 60 years old.

I was born in Ondo on April 29, 1962.

As my first name indicates, I am a twin, I have a twin brother. I had my primary school at Ondo and my secondary school education at Baptist Grammar School, Ibadan.

I hold a Law degree from the University of Lagos as well as Masters in International Law and Diplomacy from the same university.

I have been running my business for over 33 years now. I actually launched my company in 1988 as a freight forwarding firm in Lagos, Nigeria, after working with an uncle, under which I learnt the rudiments of the clearing and forwarding business.

From the little beginning in 1988, SIFAX Group has grown to become one of the leading indigenous corporations in Nigeria with thousands of jobs created, both direct and indirect.

We have also spread our tentacles to other African countries as well as Europe and America.

Our core business focus is integrated logistics, but over the years, we have diversified to other areas including financial services, oil and gas and hospitality.

Aside from running my business, another thing I am passionate about is societal impact.

As an organization and in my individual capacity, we support causes and individuals who are not privileged in society.

Our key intervention areas are education, health and youth and women empowerment.

We have a foundation which is devoted to implementing our beliefs in this regard.

I have also been privileged to be a recipient of national honour in Nigeria, a Member of the Order of Niger (MON) while I am also the Honorary Consul General of Djibouti in Nigeria.

I am a family man. I am married to a beautiful and supportive woman, Mrs Folashade Afolabi, and blessed with children, who are all doing well in their different endeavours.

How do you feel turning 60?

Let me start by expressing my appreciation to God Almighty who has remained my source and inspiration over the years.

He has not only kept me alive but has also granted me grace, meets all my needs, and grants me good health, peace of mind and a great family. I am indeed a grateful man as I turn 60.

I am sure some of my peers have died and so many are not as privileged as I am.

These and many more give me unending joy because of the grace.

I am probably not the smartest, but God’s grace has found me and beautified my life.

So, as I turn 60, I am grateful to God. I am happy that life has been kind to me. I am grateful for the modest impact God has accomplished through me.

I am grateful for a wonderful family and I am grateful for a greater future.

You started your career with your uncle and later left to float your own business. What was the motivation for this?

Well from a tender age, I have always been entrepreneurial in my thinking.

My mother was a trader and through her, I learnt the rudiments of trading and that passion has stayed with me ever since.

So starting my business was a natural progression for me after spending some years learning the ropes from my uncle who owned a clearing and forwarding business in Lagos.

I rose up to become the Operations Manager in the company. By this time, I was well grounded and ready to take on the next challenge.

Apart from expressing my passion, I also set up the business to take advantage of emerging opportunities and to provide a platform for others to fulfil their dreams through job and wealth creation.

Today, our companies employ about 5,000 staff and you know the implication of such a number of employees, especially the ripple effect on their immediate and extended families as well as the society.

If you also throw in the number of businesses, both large and small, that do business with our various companies, you will see how far we have come in impacting society.

Those are some of the things that motivated me to start my business then.

What are the key lessons life has taught you in the last 60 years?

There are many of them.

One is that you must be strategic in your thinking and planning in order to become outstanding.

An ordinary approach will always deliver ordinary results. If you look at the growth pattern of SIFAX Group, it is a result of well-thought-out plan.

The integrated approach has helped us.

From running a clearing and forwarding firm to starting inland container depots across Lagos to bidding and winning the concession of a port terminal to setting up a haulage business that conveys goods from these ports to the container depots, to bidding and winning concession of a ground handling company, to launching the Marriott Hotel and a financial services company.

You will see that these businesses are complementary in nature and this has given us some form of advantage over competitors.

I also need to emphasise the place of humility. Let me tell you, before God, we are all equal, whether you are rich or people.

Everybody deserves respect.

Humility will attract people to you and they can go to any length to support you if they know you are not arrogant.

I have always believed in living a simple and humble life which is scriptural because God admonishes us to live humbly and promised to elevate us.

I have also studied the lives of many successful godly people and you’d see humility in them.

I have many VIPs – ministers, successful businessmen and top government officials as associates, but I always come back to my constituency which is my old time friends and schoolmates and I cherish them greatly.

I won’t abandon them because I now have new friends. I’ve gone to several places and people doubt if I were the Dr Taiwo Afolabi they have heard so much about.

I always tell them that simplicity owns the world.

Life has also taught me the importance of friendship and relationship building.

It is a skill that is important to get ahead in life. Value friendship. I have some of my friends that have been with me for over 40 years, some since our secondary school days and we are still together today.

Obviously, the need to give back.

Most of the time, God blesses us more than what we need so we could support and care for others.

This is a lesson I learnt from a tender age and I haven’t deviated from it till today.

Your company opened Lagos Marriott Hotel about a year ago. What motivated you to launch this business?

I have been privileged to travel around the world in the course of doing business and pleasure and this has exposed me to international standards in the hospitality industry across the globe.

So the major reason for the investment in the hotel is to provide the same level of comfort, class and superior customer experience for Nigerians.

Nigerians are reputed for hard work and relaxation, and enjoyment should naturally follow after working so hard.

The hotel provides the perfect ambience to relax, refresh, connect and celebrate the achievements that follow their hard work.

In the last one year of operation, the hotel has disrupted Lagos hospitality landscape.

It has become the favourite venue for major individual and corporate events.

Aside from this, as a corporation, we always look for opportunities to impact our country.

I have this vision of creating jobs for as many Nigerians as possible.

Hundreds of eligible Nigerians are currently employed in the hotel while the indirect employment and other ancillary benefits can’t be quantified.

So, job creation is another key factor in setting up the business.

There is a need to build the next generation of entrepreneurs. What role do established business titans like you should play?

The reason many people don’t succeed in business and careers is due to a lack of mentorship.

They go into business without the guidance and support of mentors who have done successfully what they are trying to do.

Mentorship is key for young entrepreneurs in Nigeria. By the way, let me say that the future of Africa is entrepreneurship.

Young people must be encouraged and supported to pursue their dreams.

This is going to help in reducing poverty and the high rate of employment on the continent. It is the duty of successful businessmen and women across the continent to mentor and support these budding entrepreneurs.

These young entrepreneurs need to be mentored and guided so that Africa can witness true prosperity.

I have been involved in this both directly and indirectly. My company supports various platforms and initiatives that identify and nurture budding entrepreneurs.

I also have people I personally take under my wings that I support their dreams and mentor as well.

You are noted for your philanthropy. What is the philosophy behind this generous giving?

There is so much poverty in Africa and privileged individuals must be deliberate in helping the poor.

It is part of the core philosophy of my life and business.

We are not in business to make a profit alone. We believe in making an impact. We help individuals and communities as much as we can.

I can say I inherit the trait from my mother who was fond of meeting the needs of needy people around her while I was growing up.

I saw the joy and satisfaction on my mother’s face after supporting these people and I believe I unconsciously imbibe the principle of sharing from her.

Giving is one key success factor. I wish people realise that giving leads to abundance.

It has been a way of life for me and has seen its impact over the years.

When people come to me for help and I do it, I am always appreciative of the opportunity God has given me to be a blessing to others.

Giving comes with a sense of satisfaction and inner joy.

I see giving more as a divine mandate to pull people out of poverty through job creation and philanthropy.

Our company is also involved in this philanthropy and its key focus includes education, health and youth and women empowerment.

We provide support for public educational and health institutions.

We make donations to schools and hospitals.

We donated a 1,000 capacity lecture theatre to Ladoke Akintola University of Technology, Ogbomoso.

We donated a brand new bus to the medical students association of Obafemi Awolowo University.

We have a foundation with offices in Lagos, Zaria and Umuahia that provide support to the widows and the less privileged.

Many indigent students in their hundreds enjoy full scholarships from the foundation.

Women are trained in various skills and then given grants to start their businesses. The list is too long to recall.

How do you balance your busy business schedule and family?

I am so privileged to have an understanding wife and family who believe in my vision and support me fully in the journey.

When you run a business that is as diverse as SIFAX Group, you are bound to be busy and on the road most time.

I travel often both locally and internationally and this has a way it affects family time.

But as much as I can, I create time for them. I make sure the little time we have together is judiciously used.

We also go on vacation together to maintain our bond.

My wife is very supportive and she is my number one fan. By the way, she is a prayer warrior and you don’t need to be told that I feature prominently in her prayers.

She backs me up spiritually and takes good care of the home front so I could have the presence of mind to pursue my targets.

She has also done well when you look at the way our children have turned out so well.

She understands my schedule and gladly tolerates my absence.

But she knows that I don’t take her for granted. I respect and honour her.

I create time for her even in the midst of my busy schedule.

Advice for young entrepreneurs

For the young entrepreneurs, I would say first hold on to God, and be honest and patient.

What is not enough now will eventually become a surplus for you but there are processes you need to take.

There are some factors that help in the journey of entrepreneurship. One is vision. You must have an idea of what you want to do and the impact you want to make.

Two, hard work is very important. All successful people are hard workers. Laziness hinders greatness.

Three, solve a problem and success will naturally come. Money goes in the direction of value.

Four is persistence. You must develop the courage and resilience to keep going in the face of daunting challenges because the journey is full of different ups and downs.

Don’t give up easily. If you fall, rise, take a lesson and continue your hustling.

What is your biggest challenge as a businessman?

Risk. Business is a very risky venture. Even after doing all the due diligence, things can still go bad. It remains a big challenge but no gain no pain.

When you lose, you start all over again.

I have done a business in Europe where I lost about €4million within seven months and that hasn’t stopped me from starting again or investing in another one.

Business is a risk and for those who want to make it big, you must be able to calculate your risk well and make an informed decision.

But the ability and the power to overcome after a loss lies in you.

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FG takes safety on waterways campaign to Ogun, donates 3500 life-jackets to waterways operators.

Funso OLOJO

As part of efforts to enhance the safety of waterways across the nation, the federal government has donated 3500 life-jackets to Ogun State Government for waterways operators in the state.

The Minister of Marine and Blue Economy, Adegboyega Oyetola, who handed over the life-jackets on Tuesday, assured Nigerian inland waterways users that the ministry will stop at nothing to curb the needless loss of lives on waterways.

Represented by Director of Maritime Services in the Ministry of Marine and Blue Economy, Dr. Mercy Ilori, the Minister said the campaign is part of a deliberate national strategy to embed a culture of safety on our inland waterways.

“This is one of the most comprehensive Federal government responses in recent times to the persistent loss of lives on Nigeria’s waterways.

“Consequently, there have been successful handovers of Safety life jackets at Niger, Bayelsa, Anambra, Akwa Ibom, Delta, Taraba, and Lagos States.

” We are now in Ogun State to sustain the momentum and reveal the government’s unwavering commitment to protecting the lives and livelihoods of the people of Ogun.

“You will all agree with me that the frequency and tragic consequences of boat mishaps across the country are deeply concerning.

“It is in recognition of this menace that the Federal Ministry of Marine and Blue Economy aligned with the Renewed Hope Agenda of President Bola Ahmed Tinubu, to prioritize life-saving interventions to bring about tangible change.”

He stressed that the government’s commitment to end the needless loss of lives on waterways is anchored on three pillars: Strict enforcement of the Inland Waterways Transportation Regulations 2023; Continuous public education and sensitization campaigns; and Provision of critical safety equipment, notably life jackets, to waterway users.

“It is worthy to note that the National Inland Waterways Authority (NIWA), a key agency under the Ministry, plays a pivotal role in ensuring the success of this strategy.

“NIWA continues to lead in regulation, monitoring compliance, and supporting education and enforcement efforts on our inland waters,” he remarked.

Meanwhile, the Governor of Ogun State, Dapo Abiodun, assured the Minister that the life jackets will be distributed equitably to registered operators across the state.

The Governor, who was represented by the State Commissioner for Transportation, Engr. Gbenga Dairo, stated that safety on the nation’s waterways wasn’t a privilege but a right of everyone in Ogun State.

He also assured that the State is ready and willing to provide all the necessary support to sustain the momentum but to enhance inland waterways as viable and secured alternative to road infrastructure.

“Safety on the waterways is not a privilege, it is a right.

” Every life jacket handed over today represents a life potentially saved, a family preserved, and a future secured.

” This initiative aligns with the human capital development pillar of our administration’s ISEYA agenda ensuring that people remain at the heart of our progress

“Ogun State values the synergy we have fostered with the Ministry of Marine and Blue Economy and applauds their dedication to the development of marine infrastrucnare, safety standards, and the blue economy as a whole.

” Ogun State stands ready and willing to provide all the necessary support to sustain this momentum, not only in marine safety but also in enhancing inland waterways as viable and secure alternatives to road transport.”

“To our waterway users, boat operators, fishermen, and residents of our riverine communities: these life jackets are for you.

” But more importantly, the knowledge and awareness you will gain from this sensitization effort will serve as your daily companion, protecting you and helping you protect others.

“Ogun State hereby assures the Federal Ministry of Marine & Blue Economy and NIWA that these life jackets will be equitably distributed to verified and recognised operators across the state’s waterways, from Iwopin to Ebute-Ero, from Agbara to Tongeji, Imakun Omi to Ode-Omi, and other active riverine corridors.

” A strict monitoring and maintenance protocol will be enforced to ensure sustainability and accountability.”

The State Governor, however, warned that State actors would not allow preventable tragedies define the nation’s waterways

“As we continue to embrace innovation and development in transportation, we must also embrace accountability and responsibility.

“Let us not allow preventable tragedies to define way of life, let us instead champion the principles of safety, respect for life, and collective vigilance.”

However, the Managing Director of NIWA, Mr. Bola Oyebamiji, warned that the issue of safety on the inland waterways cannot be over emphasized as he recounted several tragic incidents that claimed lives in hundreds.

“The issue of safety can never be over-emphasized. In June 12, 2023, a wooden boat carrying wedding guests returning from a marriage ceremony from Niger State capsized in Jeva Channel Lake, in River Niger in Kwara State, owing to overloading and a submerged tree.

“The boat was reported to be carrying over 200 guests despite having the capacity of carrying just less than 100 passengers.

“More than 200 lives were lost, among which a father and four of his children were involved. So you can imagine the kind of tragedy that befell the family.

“Again, in October 1, 2024, a wooden boat carrying mostly women and children traveling for religious festive occasions capsized in Niger State.

“The boat was reported to be carrying over 300 passengers even though it has the capacity of carrying less than 100 passengers. More than 100 lives were lost.”

NIWA Managing Director, who was represented by Engr. Elsie Egwuatu, observed that in the respective cases the boats were heavily overloaded, sailed at night without the proper navigational aids and conveyed passengers without life-jackets.

“So if you think safety is expensive, try disaster. Over 90 percent of accidents that happen on our waterways are caused by human error.

“In most cases, it is caused by captain’s negligence. The newly gazetted Marine and Transport Regulations Codes, which spells out offences and punishments, ranging from fine to imprisonment, mandates the compulsory use of life jackets for all waterways users sailing on our waterways,” she added.

Also speaking, the National President of the Association of Tourist Boat Operators and Water Transporters of Nigeria (ATBOWATON), Alhaji Tarzan Balogun called for intensified regulatory efforts to prioritize safety and infrastructural development on Nigerian waterways.

Alhaji Balogun commended the government for its efforts in promoting safety across the country’s inland waterways, even as he assured that the life jackets would be used judiciously.

“There must be a firm policy — no life jacket, no entry. I’ve witnessed several cases where passengers refuse to wear them. That should not be allowed. Safety must come first,” he said.

Balogun also praised the federal government, particularly President Tinubu and the Minister of Marine and Blue Economy, for their commitment to maritime safety and for recognizing the importance of life-saving gear in water transport.

“If you’re drunk or perceived to be a threat to others onboard, operators must have the authority to refuse you entry.

” There is also the problem of bringing animals onboard, especially dogs who can scare passengers onboard and make boats capsize,” he stated.

Balogun also called on the Ogun State Government to emulate Lagos by setting up a dedicated waterways authority and constructing jetties in collaboration with local boat operators.

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Dangote supports NPA -led One stop shop committee with brand new bus for enhanced operations

Funso OLOJO

The President/Chief Executive of Dangote Industries Limited, Alhaji Aliko Dangote has commended the Nigerian Ports Authority (NPA) for the effective way it has handled the implementation of the Federal Government’s policy on domestic sales of crude oil and refined products in Naira.

To this end, Alhaji Dangote has donated a brand new Coaster bus to the OSS Committee to further ease its operations.

In a letter signed personally, Alhaji Aliko Dangote assured that his organisation will continue to explore ways of supporting the committee to sustain its successes in the implementation of the presidential directive.

The Letter reads in part: “In recognition of the enormous responsibility placed on shoulders of the One Stop Shop (OSS) by the President and Commander in Chief of the Armed Forces, and our commitment to ensuring the committee delivers on its mandate, I am pleased to donate to the committee one (1) brand new Coaster bus to facilitate the daily discharge of their operations.

“We believe this bus will be used productively by the committee as we continue to look for ways to support and appreciate the efforts of this noble committee

Recall that the Chairman, Technical Sub-Committee, on the implementation of the Federal Government’s policy on domestic sales of crude oil and refined products in Naira, Zacch Adedeji, had during a recent visit to NPA, commended the One-Stop-Shop (OSS) Team, led by the Nigerian Ports Authority (NPA) for ensuring smooth operations of the directive.

He thanked the team led by NPA for “playing a pivotal role in the successful implementation of the presidential directive on the domestic sales of crude oil and refined products in Naira”

Adedeji said: “We recognize that this pioneering effort is a significant achievement, and no doubt reflects your commitment and patriotism”.

“Thus, we encourage you to maintain the hard work and dedication that has made this initiative a success.

“We also extend our gratitude to all participating agencies for their invaluable cooperation and support,” Adedeji said.

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CRFFN Registrar talks tough over Court judgement nullifying collection of POF, declares Customs agents will continue to pay despite court ruling.

–vows to appeal the judgement.

Funso OLOJO / Gloria Odion

The Registrar of the Council for the Regulation of Freight Forwarding Practice in Nigeria(CRFFN), Mr Kingsley Igwe, has vowed that the Council will appeal the Lagos High Court judgement which nullified the collection of Practitioners Operating Fee(POF) by the CRFFN from Customs Clearing Agents.

It would be recalled that in 2018, the National Council of Managing Directors of Licenced Customs Agents(NCMDLCA) approached a Lagos High Court in order to stop the collection of the controversial POF which commenced in 2017.

However, seven years later, on May 26th, 2025, Justice D.E Osiagor , ruled that the collection of POF from the Customs Agents by the CRFFN was illegal, contending that the council only have control over freight forwarders but not customs agents.

But in a swift reaction, the Council’s Registrar said the Customs agents are within the sphere of control of the CRFFN and are therefore mandated pay the POF.

Quoting copiously from the Customs Act 2023, Mr Igwe said the Customs agents are part of the freight forwarding profession.

” The Nigerian Custom Service Act, 2023, further reinforces the regulatory role of CRFFN over customs agents who operate within the freight forwarding value chain, notably Section 106, Subsection 4 of the Nigerian Custom Service Act, 2023, states, and I quote, a customs representative, if you like, a customs license agent, shall be a freight forwarder.

“I repeat, a customs representative, if you like, a customs agent, shall be a freight forwarder, and shall be subject to the regulations and code of conduct of the freight forwarding profession in Nigeria, in this case, a profession regulated by Council for Regulation of Freight Forwarding in Nigeria”

” This provision legally integrates custom representatives into the freight forwarding profession, making them subject to the regulatory control and code of conduct established by CRFFN”

The council Registrar therefore vowed that the court judgement will be appealed.

” The Council’s legal team is thoroughly reviewing the contents, the context and legal implication of the said judgments and reaffirm that where necessary, the Council will exercise its rights of appeal, review or clarification through competent judicial channels”

The Registrar also condemned what he described as a secretive manner in which the court process was carried out without informing the defendants.

“I wish to express deep concern over the secretive manner in which it was issued reportedly without due notice to the defendants as named in the suit.

” Such a process somehow is contrary to expected principles and processes as enshrined in the Constitution of the Federal Republic of Nigeria.

“The Council views this report as the handwork of some mischief makers to derail the peace reforms and progress achieved in the freight forwarding sector in recent times”

He said that the court judgement would not stop the Council from collecting the POF, ” because the appeal never mentioned that they should stop paying POF”

” It only declared it illegal. It didn’t say stop, henceforth.

“So the collection of POF is continuous. And as a matter of fact,this is not against court ruling”

” I want to be clear on that. Because court never said stop collecting. It’s two different things.

“So that people don’t misunderstand it that way. Then, we’re already almost at the point of submitting the appeal. And we will pass the same submission” Igwe declared.

He therefore urged the freight forwarding practitioners to go about their normal duties and continue to pay the POF.

Igwe also declared that the plaintiff, the Council of Managing Directors which instituted the court process is under the control of the CRFFN ” and they will pay and continue to pay the POF”

He therefore asked the freight forwarders to continue to discharge their obligations under the CRFFN by paying the required practitioners fee pending the matter is resolved in the Court.

“POF is not a tax or a revenue level. But a statutory fee gazetted by the Federal Republic of Nigeria and created under the powers conferred on CRFFN by its establishing acts.