Headlines

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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Customs

How NPA’ s ETO call- up system hampers seamless export processes at Lilypond Terminal — Customs

Funso OLOJO

The Customs Area Controller of the Lilypond Export Command, Comptroller Ajibola Odusanya, has attributed the persistent delay in export cargo movement at the command to logistics issues associated with the Nigerian Port Authority’s Eto call-up system, rather than any bottlenecks from the Nigeria Customs Service (NCS).

Eto call- up system is a structured movement of container- laden trucks into the terminals meant to decongest Port access road and facilitate quick goods clearance at the port.

It was developed by the NPA and driven by a private company.

However, Comptroller Odusanya, speaking at a Roundtable with members of Maritime Reporters Association of Nigeria (MARAN),emphasized that while the command has streamlined the export process, lack of available slots for trucks to enter the ports remains a major challenge.

He noted that despite the command’s efforts, numerous containers remain stranded at Lilypond due to the inability of trucks to secure clearance under the Eto system.

He explained that prior to the implementation of a centralized export processing system, multiple customs units across Apapa, Tin Can, PTML, and Lekki ports handled export documentation.

However, in July 2024, the government directed the full centralization of all export processes under the Lilypond Export Command.

This move, driven by the Presidential Enabling Business Environment Council (PEBEC) and backed by agencies such as the Nigerian Export Promotion Council (NEPC) and the Nigerian Ports Authority (NPA), was aimed at streamlining operations and reducing multiple checkpoints.

Odusanya revealed that between January and December 2024, the command processed exports valued at approximately $1.9 billion, a figure that could have been higher if the consolidation had occurred earlier in the year.

He added that in February 2025 alone, the command facilitated exports worth $225.1 million.

He attributed these successes to inter-agency collaboration, with Customs working alongside the Department of State Services (DSS), the National Drug Law Enforcement Agency (NDLEA), and quarantine services, among others.

Despite the improved export facilitation, Odusanya acknowledged that challenges persist, particularly with the Eto call-up system, which has created logistical constraints.

He explained that export containers often get delayed at Lilypond not due to customs processes but because of congestion at the ports, caused by import containers awaiting clearance.

He pointed out that while Apapa remains the busiest port for exports, the congestion problem is less severe at Tin Can due to the presence of an export processing terminal.

On the issue of the Nigerian Export Proceeds (NXP) form, Odusanya stated that the command has ensured compliance with all regulatory requirements.

He, however, acknowledged exporters’ concerns about the process and assured that Customs is working to facilitate seamless trade while ensuring adherence to financial regulations.

He urged maritime stakeholders, including the media, to continue sensitizing exporters on the ease of processing export goods through Lilypond, emphasizing that the command operates transparently and does not condone extortion.

He reiterated that officers at the entry points are strictly there to verify processed cargo and not to serve as an additional checkpoint.

Odusanya concluded by reaffirming the commitment of the Lilypond Export Command to supporting Nigeria’s growing export sector, ensuring efficiency in cargo movement, and addressing any emerging challenges in collaboration with relevant stakeholders.

Economy

Dangote group remits N402.3 billion tax to government coffers in 2024

Gloria Odion

The Pan African Conglomerate, Dangote Industries Limited and its subsidiaries, have disclosed that it paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country.

Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, declared during a meeting with some senior media executives who visited him in his Lagos Office.

He said Dangote Industries Limited (DIL) and its subsidiaries, namely, Dangote Cement, NASCON, Dangote Packaging Limited among others, remitted a total of N402.319billion for the out-gone year as taxes as responsible business enterprises.

Recall that Federal Inland Revenue Service (FIRS) had in late 2024 recognised Dangote group and its subsidiary, Bluestar Shipping as the most tax compliant organizations in the country during its Special Day at the 2024 Lagos International Trade Fair organised by the Lagos Chamber of Commerce and Industry (LCCI).

The Federal Inland Revenue Service is Nigeria’s agency responsible for assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.

Chiejina told his visitors that as a responsible business organisation, DIL and its subsidiaries have never shieded away from its obligations either to the government in the form of tax payment at all levels or to host communities in the form of Corporate Social Responsibility (CSR).

According to him, the Group’s corporate strategy has evolved just as its businesses have grown, matured and diversified into new sectors and regions over the last four decades.

He noted that Dangote Group has almost single-handedly taken Nigeria to self-sufficiency in cement and refined petroleum products and is expanding rapidly across Africa.

Dangote Group and its subsidiaries were recognised as number one most compliant in tax payment in the country, just as its subsidiary Dangote Cement, the country’s leading cement manufacturer, at another occasion won three awards at the FMDQ Gold Awards in Lagos as the most active business in the Foreign Exchange market.

Dangote Cement Plc was adjudged as the Largest Commercial Paper Quotation on FMDQ and Single Largest Corporate Debt Issue on FMDQ.

Also, Dangote Industries Ltd also emerged as the “Most active corporate in the foreign exchange market”.

Headlines

NIWA Chairman charges Oyebamiji to phase out wooden boats from Nigeria’s waterways

Funso OLOJO

The newly appointed Chairman of the National Inland Waterways Authority (NIWA), Hon.Musa Sarkin-Adar, has charged the management team of the Authority led by its Managing Director, Bola Oyebamiji, to phase out wooden boats from Nigeria’s waterways.

Musa Sarkin-Adar, who paid a

familiarization visit to the management team of NIWA in its Abuja liaison office, in a bid to minimize boat mishaps on the waterways.

He believed it would be a lasting legacy for the present leadership of NIWA if accidents could be minimized on the Waterways.

The Chairman’s advice is however in alignment with the NIWA’ s resolve to stamp out wooden and rickety boats on waterways.

However, Musa Sarkin-Adar further encouraged the NIWA team to do more in connecting other states in the water transportation.

He emphasized on the need for the involvement of the private sector in the development of water transportation, as government cannot do it alone.

In his response, Oyebamiji expressed appreciation for the visit and encouraging words of the chairman and pledged the commitment of of NIWA management to make the nation’s waterways safe and secure.

Oyebamiji also commended the efforts of his management team in the development of the Inland Waterways

Transportation sub-sector.

According to him, he is blessed with an experienced and dedicated team which he cannot take the glory alone.

The Chairman’s visit was attended by all the management staff of the Authority.