Many Nigerians have heard of “Folawiyo”. When I hear the name, one thing comes to mind always: “Enterprise”.
Wahab, one of the most successful business persons in Nigeria, and the patriarch of the Folawiyo family died last week. He was 79.
Wahab Folawiyo’s grandchildren – and maybe his great-grand children as well – have good reasons to say “thank God for grandpa! Reason is simple.
In Nigeria, few successful business persons have succeeded in transferring their wealth to their descendants after death. Wahab did.
Below is a brief bio of the man:
Alhaji Chief (Dr.) Abdulwahab Iyanda Folawiyo, C.O.N. was no doubt one of the icons of Nigerian industry and philanthropy…
In 1957, Chief Folawiyo founded YINKA FOLAWIYO & SONS, an enterprise that engages in import and export business between Nigeria and Europe. Today, Alhaji Folawiyo’s large business empire includes holdings in shipping, banking, construction, agriculture and energy.
The Yinka Folawiyo Group, of which Yinka Folawiyo & Sons Limited is the parent body, includes the Maritime Associates (International) Limited, Nigerian Green Lines Limited, Folawiyo Farms Limited, Ilora, Oyo State; Folawiyo Fisheries Limited, Yinka Folawiyo Petroleum Company Limited, United Property Developers Limited, and, the latest additions to the Group:, Yinka Folawiyo Electrical & Mechanical Company Limited, Y.F Power Limited and Folawiyo Energy Ltd…
Yinka Folawiyo & sons became the first indigenous company to engage in sufficient bulk purchase to warrant chartering ships to service the trading operations. Until this time shipping operations to and from Nigeria had been monopolised by foreign companies. However, with the formation of Maritime Associated (International) Ltd. to carry out chartering, agency, clearing and forwarding activities, the Company was invited by the Nigerian Produce Marketing Company (NPMC) to apply to become a National carrier for Nigeria’s vitality important agricultural exports of cocoa, palm kernels and ground nuts. Of the thirty-five indigenous carriers existing in 1976, maritime Associates (International) Ltd is the only company still operating…
Nigerian Green Lines Ltd. blossomed in six short years to become the largest privately owned shipping West Africa with a fleet of six general cargo vessels totalling 87,807 tons dead-weight.