Connect with us

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.
Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Analyses

The invisible toll gates:Why National Single Window is Nigeria’s ultimate economic battleground

Monday Discourse with  Ibrahim Nasiru
Walk into any market in Nigeria today, from the commercial hubs of Lagos to the roadside stalls in Yola, and ask why a bag of rice or an imported spare part costs three times what it did last year.
The typical public commentator will blame global inflation, floating currencies, or macro-economic shocks.
But those who understand logistics know the real truth lies buried under layers of paper, manual stamps, and artificial delays at our seaports.
Nigeria’s international trade is suffocating not from a lack of deep water, but from a deliberate design of convenience.
The recent operational rollout of the National Single Window (NSW) has triggered behind-the-scenes panic among Port cartels, and for good reason.
For decades, keeping our clearing processes fragmented, manual, and dependent on desk-to-desk human interaction was the perfect business model for syndicates.
When cargo dwell times drag on for 21 days, those delays are money in the pockets of the gatekeepers and a death sentence for local businesses.
Let us look at the raw field realities. The push by the Nigeria Customs Service to aggressively crash clearance times down to global 48-hour standards is meeting fierce internal resistance.
Why? Because a unified digital ecosystem means you cannot easily manipulate documentation, hide illicit cargo, or demand “mobilization fees” before signing off a container.
The outcry and protests from certain freight-forwarding syndicates aren’t about technical glitches; they are about the sudden closure of invisible toll gates.
This is exactly why governance at our national gateways can no longer be left to the mercy of transactional bureaucratic habits.
Building deep-sea infrastructure like Lekki Port is a massive physical achievement, but concrete and cranes are useless if the administrative processes at the gate remain backward.
 Real structural reform requires turning our Ports into automated, friction-free pipelines that prioritize production over rent-seeking.
If Nigeria wants to survive this fiscal squeeze, the National Single Window cannot just be treated as another glossy IT project launched in Abuja.
 It requires unyielding administrative enforcement to completely dismantle the corrupt cartels managing the manual desk chains.
The invisible toll gates at our Ports must be completely demolished, and that exact same structural discipline must be scaled across our border stations and trade corridors.
The era of managing international trade with 20th-century paper trails is dying. The future belongs to the builders of automated, transparent systems.
Chief Ibrahim Nasiru, a public affairs analyst,  writes from Abuja 
Continue Reading

Headlines

NANTA Exco embarks on seven-day Ghana retreat, fam trip to deepen regional tourism partnership

Gloria Odion, Reporter

The National Executive Council (NEC) of the National Association of Nigeria Travel Agencies (NANTA) has commenced a seven-day executive retreat and familiarisation (fam) trip to Ghana, hosted by Safari World, as part of efforts to strengthen regional tourism partnerships and expand cross-border travel opportunities.

The NANTA delegation was received at Safari World Homes in Accra by the Chairman of the Safari World Group, Mr. Ernest Gyekye, who expressed delight at hosting the Nigerian travel trade leaders.

He assured the delegation of a memorable experience throughout their week-long stay.

Speaking on the significance of the visit, NANTA President, Mr. Yinka Folami, described the retreat and familiarisation tour as a strategic initiative aimed at fostering stronger business relationships and promoting collaborative tourism development across Africa.

“This mission is not a leisure trip,” Folami said. “It is a deliberate step to implement and expand our association’s marketing advocacy for Nigerian brands across borders.”

He noted that Nigeria and Ghana share deep historical, cultural and commercial ties that should be leveraged to drive tourism growth on the continent.

“Nigeria and Ghana share history, culture, trade and people. The future of our tourism cannot be built in silos,” he said.

“This retreat is about moving from policy to practice—creating real products, real partnerships and real movement of travellers between Accra and Lagos.”

As part of the programme, the NANTA executives will engage in strategic business-to-business (B2B) meetings with their Ghanaian counterparts, tour key tourism destinations under the Safari World brand, and participate in cultural exchange activities designed to promote stronger bilateral tourism cooperation.

The itinerary spans Safari World’s three flagship destinations, including Safari Homes in Accra, the Aqua Safari riverfront experience, Safari Island Cruise, Safari Nautica, and Safari Recreation and Sports facilities in Ada, as well as the Safari Valley Eco Resort and Safari Eco Park in Dawu.

Operating under the brand promise, “One World, Three Destinations, Over 20 Unique Experiences,” Safari World is leveraging the visit to strengthen its footprint in the Nigerian travel market while positioning Ghana as a premier destination for leisure tourism, conferences, group travel, family holidays and premium tourism experiences.

A major highlight of the visit will be the Executive Dinner scheduled for July 21 at the Safari Valley Eco Resort, where key stakeholders from Nigeria and Ghana’s tourism industries will deliberate on strategies for deepening travel trade and advancing regional tourism development.

The familiarisation tour is expected to provide NANTA’s leadership with first-hand knowledge of Safari World’s tourism offerings, paving the way for the development of attractive travel packages and stronger business partnerships that will benefit Nigerian travellers and the wider West African tourism industry.

Continue Reading

Customs

Ogun Customs spurns claims of Smugglers’ takeover of Idiroko–Sango Ota trading Route

Funso OLOJO, Editor

The Ogun I Area Command of the Nigeria Customs Service (NCS) has dismissed as false reports alleging that smugglers had taken over the Idiroko–Sango Ota trading route in Ogun State, describing the claims as a deliberate misrepresentation of a traffic incident.
In a statement issued by the Command’s Public Relations Officer, Superintendent of Customs (SC) Chado, the Command clarified that the traffic gridlock on the route resulted from the breakdown of an articulated commercial trailer after it fell into a badly deteriorated section of Atan Road, temporarily obstructing the free flow of traffic.
According to the Command, the vehicles caught in the ensuing congestion were legitimate commercial trucks transporting red palm oil to various local markets and had no connection whatsoever with smuggling activities.
It explained that the large number of heavy-duty trucks trapped in the gridlock may have led some members of the public to wrongly conclude that smugglers had taken over the road.
“The reports that smugglers blocked the road are inaccurate. The disruption resulted from a road accident and poor road conditions. The vehicles involved were lawful commercial vehicles transporting red palm oil for legitimate trade,” Chado stated.
The Command urged journalists, social media users and the general public to verify information before disseminating reports capable of creating unnecessary panic or undermining public confidence in security agencies.
Observers within the border trade sector noted that the allegation does not reflect the prevailing security situation within the Ogun I Area Command, where anti-smuggling operations have been intensified under the leadership of the Acting Customs Area Controller, Comptroller O.O. Afeni.
Since assuming office, Comptroller Afeni has strengthened intelligence-driven surveillance, enhanced collaboration with other security agencies and host communities, and sustained pressure on economic saboteurs operating along the Ogun border corridors.
These measures, according to stakeholders, have resulted in significant seizures of prohibited goods and reinforced the Command’s resolve to safeguard Nigeria’s economy and territorial integrity.
Maritime and border trade stakeholders also cautioned against the spread of unverified information capable of undermining the efforts of security personnel or creating a false impression of lawlessness in border communities.
They stressed that while combating smuggling remains an ongoing responsibility, responsible and accurate reporting is equally critical to ensuring that operational achievements are not overshadowed by misinformation.
The Ogun I Area Command reaffirmed its commitment to sustaining its anti-smuggling campaign while facilitating legitimate cross-border trade in line with the statutory mandate of the Nigeria Customs Service.

Continue Reading

Trending