Taiwo Afolabi’s Next Big Play 

With the sure-footed imprints of Dr. Taiwo Afolabi in every sector of the logistics business, the trained lawyer-turned-magnate is quietly redrawing the map of Nigeria’s trade and transport economy.

Since 1988, when he floated SIFAX as a modest freight forwarding company in Lagos, with a focus on clearing, haulage and warehousing, Afolabi has expanded to become a major force in Nigeria’s logistics ecosystem.

With the benefit of self-development, Afolabi understood early that the logistics business is not just about movement, but about systems. And over time, those systems have multiplied as SIFAX evolved strategically into a multimodal conglomerate with imprints in full maritime services, aviation, energy, hospitality and financial services.

The conglomerate has operations spanning several countries, from Nigeria to several African countries, the United Kingdom, Belgium, and the US.

Since logistics is a business obsessed with speed and spectacle, Afolabi represents a different archetype: the builder who thinks in decades, not quarters. He has been making moves to strengthen his company’s position as a full-spectrum marine services provider in Nigeria and other important international markets. That’s the next big chapter. The billionaire tycoon has actively been seeking partnerships and joint ventures in addition to a deliberate investment in vessel acquisitions and other marine assets to expedite growth.

Recently, SIFAX Marine, a unit of SIFAX Group, came out boldly with plans to acquire additional offshore support vessels to boost capacity and respond to growing demand in the oil and gas sector. The company plans to add sea-going barges, creek vessels, and offshore support ships to meet market needs, secure larger contracts, and provide clients with consistent and reliable service.

With this plan, Afolabi is beginning the 2026 business year with a clear focus on execution, setting out plans that lean on technology, operational discipline and a broader push across West Africa. He is building on the relative success of 2025, where some subsidiaries of the Group cut some strategic deals, including that of Ports & Cargo Handling Services Limited’s new agreement aimed at strengthening cargo handling at the Tin Can Island Port terminal in Lagos.