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Tag: Taiwo Afolabi

  • Taiwo Afolabi surges in fortune

    Taiwo Afolabi surges in fortune

    Nigerian logistics mogul Dr. Taiwo Afolabi, widely recognised by his moniker SIFAX, has emerged as a titan in the industry, a testament to his unwavering faith and the benevolence of his creator. Throughout his life, Afolabi has experienced profound blessings, which have propelled him to extraordinary heights in the business world. His remarkable journey has established him as one of Nigeria’s most successful logistics magnates, with ventures that span oil and gas, real estate, and hospitality.

    Afolabi’s rise can be attributed to a career characterised by persistence, strategic risk-taking, and a commitment to excellence. He initially trained as a lawyer at the University of Lagos, which laid the foundation for his professional career. His journey began at Nigerian Express Agencies Limited (NEAL), where he quickly established himself as a promising young manager in the realms of shipping operations and port management. Following further studies in shipping management abroad, he returned to NEAL and rapidly ascended to the role of Head of Operations.

    In contrast to the struggles faced by many of his contemporaries, Afolabi’s fortune has seen a remarkable ascent, particularly highlighted by his ownership stake in Skyway Aviation Handling Company Plc (SAHCO). This segment of his expansive portfolio is nearing a valuation of $50 million, buoyed by the robust growth of his conglomerate, SIFAX Group. Afolabi has ascended to become one of Nigeria’s most influential figures in the logistics and maritime sectors with a formidable international presence with offices across Ghana, South Africa, the United States, Belgium, and the United Kingdom, and is currently exploring new ventures in Djibouti and Equatorial Guinea. His recent successes underscore the dual significance of diversification and the burgeoning capabilities of the country’s aviation service industry.

    Read Also: Blue economy key to Nigeria’s growth, potential, says Adeyeye

    According to close sources; Afolabi’s 60.76% stake in SAHCO is currently valued at an impressive $48.24 million, a substantial increase from $17.92 million at the onset of 2025.

    “Afolabi’s substantial holding of 822,373,080 shares in SAHCO is presently worth approximately N74.05 billion (equivalent to $48.24 million). This marks an impressive increase of N46.54 billion ($30.32 million) since the beginning of 2025, when his holdings were valued at just N27.5 billion ($17.92 million),” a source quipped.

    One of Afolabi’s most audacious initiatives was the acquisition of SACHO through a privatisation process initiated by the Bureau of Public Enterprises. This strategic move marked SIFAX’s entry into the aviation sector, which was further solidified through the rebranding of SACHO to SAHCO. Simultaneously, SIFAX expanded its footprint in maritime infrastructure by securing significant concessions for Port Harcourt Ports Terminal “A” in 2006, as well as for Tin Can Island Ports Terminal “C.” These advancements have greatly enhanced SIFAX’s influence within Nigeria’s trade and logistics landscape, showcasing Afolabi’s vision and tenacity in driving the company’s growth and success.

  • Taiwo Afolabi Cup finale ceremony  holds May 4

    Taiwo Afolabi Cup finale ceremony  holds May 4

    • By Kareem Yusuf

    The   grand finale of the 9th Taiwo Afolabi Cup Southwest Tournament for U-17  Boys and Girls is expected to hold Sunday, May 4.

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    This year’s  closing ceremony of the competition would  be preceded with the birthday anniversary  of  the progenitor of the  annual tournament, Dr Taiwo Afolabi, the Chairman of Sifax Group,  tomorrow,  April 29 while the May 4 final of his  sponsored football tournament  would  enable his   company’s   members of staff to attend the  grand ceremony.

    For  next Sunday’s final, Onabanjo Babes of  Ijebu-Ode will trade tackles with Young Shall Grow  of Ipaja in the Boys’ category while Makbet Queens of  Isolo  will lock horns  with  Dominion Girls of  Ikorodu. Both matches  is slated for Abalti Barracks Mini-Stadium in Ojuelegba, Lagos.

  • Taiwo Afolabi’s proud moment

    Taiwo Afolabi’s proud moment

    Mr. Taiwo Afolabi is in a league of his own with his hands in many pies of business from hospitality, aviation, logistics, freight and forwarding, real estate, oil and gas, among others.

    He has set a standard for himself that he does not do things in half measure. Anything he ventures into turns into gold as he is a man known for his impeccable and distinct ideas, who brings out sparkling diamonds from their raw form.

    Despite being a disciplinarian, the head honcho of SIFAX Group is a man loved by many for his benevolence, care for everyone around him and his brilliance. This also rubbed off on his children as he has instilled discipline and hard work into them which is a strong virtue that is making them thrive in their various fields.

    Read Also: Taiwo Afolabi celebrates

    On December 14 at the Palms Shopping Mall in Lekki, Lagos, one of his sons Damilola Afolabi, who is popularly known as L.A.X. shut down the big event place for his maiden ‘No Bad Vibes with LAX’ event where he had his first headlined show.

    The Marriott Hotel boss was also in attendance with his friends and associates, who came to witness the event.

    When Afolabi’s son got on the stage, the crowd cheered him with a massive roar and the moment was an absolute emotional one for the shrewd businessman.

    L.A.X. also announced that his parents were also in attendance, which further made him more emotional and a proud father because his dream has always been his children surpassing him in any of their fields.  

  • SAHCO launches IPO to raise N406 million

    Skyways Aviation Handling Company (SAHCO) Plc on Monday launched an initial public offer for sale of N406, 074, 000 with effect from November 12, 2018.

    This is just as the firm said its shareholders have concluded plans to divest 49 per cent equity to the public in line with the share purchase agreement it signed with the Bureau of Public Enterprises ( BPE) many years ago when the firm was privatized.

    At the signing ceremony witnessed by the Director-General of Bureau of Public Enterprises (BPE), Mr. Alex Okoh, its shareholders and other stakeholders, the company said is offering an ordinary share of 50 kobo each at N4.65 per share payable in full.

    Chairman of the company, Mr. Taiwo Afolabi said based on the terms of the executed Share Sale and Purchase Agreement (SSPA) in respect of the privatization, the shareholders of the company were obligated to divest 49 per cent equity stake in SAHCO to the Public.

    However, 10 per cent of the shares to be divested would be sold to the staff of the company.

    The chairman explained that the current shareholders would divest N406m ordinary shares of 50 kobo each representing 30 per cent of the entire issued and fully paid up Ordinary Shares in compliance with the terms of the SSPA.

    He said the company got the approval of BPE for a phased divestment in view of the current market conditions, adding, there are plans to divest the balance of 19 per cent equity stake at a future date.

    “SAHCO future strategy is to create long term shareholder value through the profitable operation and expansion of its business beyond Nigeria and into other West African markets with a vision to become the leading provider of passenger, ramp and cargo handling services in the West Africa sub-region”, he said.

    DG of BPE, Mr. Alex Okon recalled that SAHCO was privatized as part of the Federal Government’s enterprise reform agenda aimed at managing the privatized companies for efficiency and enhanced profitability.

    According to him, the SIFAX Group was required to offer certain percentage to the public to change the perspective that the assets were sold to cronies and friends of government.

    Also speaking Managing Director of SAHCO, Basil Agboarumi said the firm will put to judicious use proceeds from the funds injection to enable SAHCO remain a market leader in cargo , ramp and passenger handling services.

    He said the 10 per cent of the shares to be sold to the workers will generate proceeds that will be used to cater to the need of its personnel.

  • Sirika, 400 delegates for NUATE conference

    Minister of State Aviation Hadi Sirika, heads of aviation agencies and over four hundred delegates will converge on Asaba, Delta state capital for the national delegates’ conference of the National Union of Air Transport Employees (NUATE).

    According to the general secretary of NUATE, Comrade Olayinka Abioye, the 10th quardrennial national delegates conference with its theme, ‘Public, private Partnership in aviation industry – Perspective from investors, labour and management’ will feature awards.

    Comrade Abioye explained that past leaders of the NUATE will be honoured including heads of aviation agencies for their contributions to the development of the sector.

    The conference according to him, will take place at Grand Hotel Asaba from Wednesday 26 to Friday 28 September 2018.

    Read Also: Sirika confirms date for national airline

    Hadi Sirika will be conferred with Aviation Minister of the decade award while five chief executives of the will be awarded Transformational Leadership.

    The Conference also marks the 40th anniversary of the birth of the Union which makes it the foremost trade union in Nigeria’s aviation industry.

    The chairman of the occasion is the Group Chairman, SIFAX Group, owners of Sahcol, Dr. Taiwo Afolabi, MON supported by Captain Mshelia, MD/CEO Westlink Airlines

    The conference will also usher in new national executives that will steer the affairs of the union in the next four years.

    NUATE is a notable union in the aviation sector championing the cause of workers and an affiliate body of the the Nigeria Labour Congress.

  • About TAIWO AFOLABI’s show-stopping wedding for son

    THIS weekend, businessman billionaire and Sifax Group boss, Taiwo Afolabi, literarily brought the ancient city of Ibadan to a standstill. It was the engagement and traditional wedding of his first son, Yinka.

    This will be followed by grand reception on September 15, 2018 at the Harbour Point on Wilmot Road, Victoria Island, as creme de la creme of the society converge to celebrate with the Afolabis.

  • Mariam Afolabi opens multi- million naira business edifice

    Mariam Afolabi opens multi- million naira business edifice

    No matter how much the rain falls, some people will never get wet. While the country is just emerging from grips of a recession that has crumbled some businesses and dwindle many a personal fortune, some wealthy people appear totally unaffected by it. Instead, their wealth is waxing even stronger.

    Among the lucky few is Mariam Afolabi, the beautiful lady of style who has been expanding her fashion business. Now she has taken things to a whole new level by moving her business to a new upscale location where she is sure to enjoy more patronage from the high profile Lagos crowd.

    Following in the footsteps of her father, Taiwo Afolabi, who heads the SIFAX business empire, Mariam started her own fashion chain several years ago with the launch of The Style Café in the heart of Lekki Phase 1. The place comprised a fashion label, a unisex salon, a fancy eatery and a spa.

    The 24-year old Law School graduate has however moved on to bigger and better things. Last Sunday was the grand unveiling of the new location for The Style Café. The premium spot on Alexander Road, Ikoyi was unveiled amidst fanfare with the who’s who of fashion and style in attendance.

  • Taiwo Afolabi shuts London club

    Taiwo Afolabi shuts London club

    Popular businessman and socialite, Taiwo Afolabi, Managing Director of Sifax Group, has closed down his nite club, De Eclipse, in the United Kingdom. The collapse of this business interest we gathered is not unconnected with lack of patronage.

    When the fun spot was opened years back in South East London,sources said the shipping magnate had thought  it would be money spinning. Another source squealed that he wanted to prove that he was a jack of all trades and master of all,but rather than break even,Afolabi had been using the returns on his shipping business to run the nite club before the final closure  .

  • Taiwo Afolabi buries father-in -law in style

    Taıwo Afolabı is reputed as a man of taste and class. On the rare occasions that circumstances demand that he takes the centre stage in social circles, he does so with style. Style and panache were on display last Sunday in the city of Sagamu, Ogun State, when the bıllıonaıre business man gave his father-in-law a befitting burial. It was the day a section of high society stormed the city to honour the chairman of Sifax Group and his wife, Folashade.

    The usually sleepy town was at its boısterous best as people from all walks of life headed there to pay their last respects to the deceased, Chief David Gbadebo Sokoya, Folasade’s father, and community leader. Pa Sokoya journeyed to the great beyond on Saturday, June 21, 2014 at the ripe age of 86.

    The event had in attendance the high and the mighty in all the strata of the nation’s economy, including captains of industry, friends and associates of Dr. Afolabi and his beautiful wife. King of World Beats, King Sunny Ade, and Fuji Prince, Kolade Onanuga, were on hand to treat guests to melodious tunes.

  • The other side of Taiwo Afolabi

    The other side of Taiwo Afolabi

    BUSINESSMAN and socialite, Taiwo Afolabi, is a man of many parts. Apart from his soaring profile of the head honcho of Sifax group in the maritime sector, he is very passionate about football.

    Afolabi, we gathered, has a team, Sifax FC, which he floated and nurtured. The club has also been winning laurels through the annual ships and ports maritime football competition.