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7 Companies Owned By Nigerian Businessman Tunde Folawiyo

Babatunde Folawiyo, a well-known Nigerian businessman, is a driving force in the corporate world. As the chairman of the Yinka Folawiyo Group, a multibillion-dollar investment conglomerate with interests in energy, agribusiness, shipping, real estate, and engineering.

Founded in 1957 by his father, Wahab Folawiyo, the group’s tradition has been masterfully cultivated by Tunde, who took over leadership in 2008 after his father’s death.

The Yinka Folawiyo Group has grown into a multifaceted company under Tunde’s skilled leadership, achieving major gains across numerous sectors.

Notably, the conglomerate’s investments in energy, agriculture, shipping, and real estate are symptomatic of Tunde’s forward-thinking approach to business.

Folawiyo’s influence goes beyond the Yinka Folawiyo Group. His extensive leadership career has had a substantial impact on a number of organizations, including MTN Nigeria, Ecobank Mali, and Access Bank Plc. His major role as director of MTN Nigeria demonstrates the breadth of his engagement in the development of Nigeria’s telecommunications sector.

With a net worth of $650 million in 2014, Folawiyo has established himself as one of the wealthiest businesspeople not only in Nigeria, but also in Africa, with the majority of his money derived from his ownership of Yinka Folawiyo Group, which continues to thrive under his leadership.

HowNG has identified and cataloged a number of companies and holdings associated with Folawiyo. Here are ten businesses in which he has direct or indirect ownership:

1. Yinka Folawiyo Group

The Yinka Folawiyo Group, founded in 1957 and headquartered in the thriving metropolis of Lagos, is a dynamic corporation with a global reach. Its business holdings are diverse, spanning energy, agriculture, shipping, real estate, and engineering.

The group has grown into a powerhouse under Folawiyo’s able leadership, with its flagship oil exploration subsidiary, Yinka Folawiyo Petroleum, gaining a 60% participation interest in the Aje Oil and Gas field offshore Lagos. Notably, as the first producing oil field outside of Nigeria’s famed Niger Delta, this field symbolizes a historic feat.


2. Helios Fairfax Partners Corporation

Helios Fairfax Partners (HFP), founded in 2004 by Tope Lawani and Babatunde Soyoye, is an investment holding company focused on long-term capital appreciation and capital preservation in Africa.

Helios Holdings Limited and Fairfax Africa Holdings Corporation merged in 2020 to form Helios Fairfax Partners, a renowned pan-African alternative investment management. Folawiyo, a strategic investor, is also a partner with HFP.


3. MTN Nigeria Plc

Folawiyo’s major investments include a 1.08 percent share in MTN Nigeria Plc, the country’s top telecoms service provider. His stake, valued at N62.64 billion ($81.11 million) as of August 25, 2023, demonstrates his competence as one of the Nigerian Exchange’s significant investors.


4. ENYO Retail & Supply Limited

ENYO Retail & Supply Limited, a petroleum retailing and renewable energy products company launched in 2017, exemplifies Folawiyo’s entrepreneurial prowess. ENYO’s impact on the Nigerian energy market was cemented by its combination with Ardova, a notable oil firm founded by Abdulwasiu Sowami, which has a powerful network of more than 85 fuel retail stations spanning 18 Nigerian states. Ardova’s portfolio now includes Enyo’s 95 gas stations, solidifying its position as a premier energy conglomerate.


5. Lavelle Energy

Among Folawiyo’s visionary endeavors is Lavelle Energy. This Nigerian powerhouse operates at the forefront of subsea services, boasting a proficient team with global expertise in offerings ranging from ROV services and engineering to asset integrity management and specialized vessels.

Under the leadership of Folawiyo, who serves as director, Lavelle Energy Services Limited leverages strategic alliances with premier subsea companies and extensive knowledge of Nigeria’s oil and gas realm to deliver unparalleled services, encompassing diving, ROV, IRM, subsea construction, installation decommissioning, and abandonment.


6. NBA Africa

Folawiyo’s influence extends beyond business to sports, particularly through his connection with NBA Africa. He serves on its board of directors and collaborates with notable figures such as CEO Victor Williams and NBA Deputy Commissioner Mark Tatum.

This relationship has aided the growth of the coveted Basketball Africa League, which features the continent’s top 12 club clubs. Folawiyo, as the driving force behind the NBA’s initiatives in Africa, expands the continent’s presence in the global sports arena.


7. Folawiyo Energy Limited

Folawiyo Energy Limited, a company of the Yinka Folawiyo Group, is a subsidiary of the visionary entrepreneur. This subsidiary, in collaboration with Glencore Energy, maintains a world-class petroleum storage facility with a capacity of 66,000 metric tonnes. This facility demonstrates Folawiyo’s dedication to excellence in the energy sector.


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