By Tayo Oyediji
Billionaire Businessman, Wale Babalakin SAN, has scored many points, and without a doubt, ranks high among individuals who are accomplished in the legal, hospitality and construction sectors of the Nigerian economy.
In giving back to the society, he is known to have written his name in gold as his philanthropic gesture has proven to be without limits. In all his endeavours that cover legal duties and entrepreneurship, Wale Babalakin has been able to distinguish himself and proudly belongs to the class of the best.
One of his major business feats is the recent grand commissioning of the new Premium Departure Concierge by his company, Bi-Courtney Services Limited at the Murtala Mohammed Airport 2, Lagos.
The new lounge is part of Bi-Courtney Services Limited’s effort to redefine the experience of high networth individuals traveling through the facility. This milestone represents the unwavering commitment to providing unparalleled services and an unforgettable experience to the distinguished business class passengers and top-rate individuals who are on executive charter flights.
Wale Babalakin has proved beyond reasonable doubt that success is in his DNA. In the first place, he is an accomplished lawyer. Secondly, he is a successful businessman, who plays big in the hospitality and construction sector. And again, he is a big supporter of his Islamic faith. A worthy old student of the great school, Government College, Ibadan (GCI).
Dr. Wale Babalakin is the Chairman of Bi-Courtney Group of Companies. He is also a Senior Advocate of Nigeria (SAN), as well as a recipient of the Nigerian National Honour of Officer of the Federal Republic (OFR), which was bestowed on him in 2007.
A chip of the old block, Babalakin is the illustrious son of the highly respected and distinguished jurist, late Justice Bola Babalakin, a former Justice of the Supreme Court. He is the founder of one of the most prestigious law firms in the country, Wale Babalakin and Co., where he retains the Principal Partner position. He might be a lawyer by training, but he is well known for his exploits as the brain behind some of the most popular construction firms in the country; Bi-Courtney Limited, Stabilini Visinoni Limited and Resort International Limited.
Wale Babalakin has an impressive list of business interests and achievements. After recording major successes in the development of real estate, including the proprietorship of a few high rise buildings in Abuja and Lagos, he, through his Company, Bi-Courtney Limited, applied for the concession of the Lagos Domestic Airport, the Murtala Mohammed Airport 2, after the airport was razed by fire. Nobody gave the project a chance as it was considered too cumbersome for the capacity of a private company. But he delivered. That’s the mettle he is made of.
In a country with an acknowledged huge infrastructure deficit, the company is a frontline player in Infrastructure Development and Maintenance, with a record of delivering the first major Private-Public Partnership (PPP) financed infrastructure in the Aviation Industry.
Within three years of the concession agreement however, and in the face of serious hostility and inconsistency on the part of the government, Bi-Courtney Limited completed the new domestic airport now famously known as MMA2, which has been variously described as the best airport in Nigeria today and definitely the first airport terminal to be built in Africa with private funds. It is acclaimed the most modern, functional and well-run domestic airport terminal in the sub-Sahara Africa.
Bi-Courtney was also the first company to win a concession agreement for the reconstruction and modernisation of Nigeria’s busiest and most important highway, the Lagos-Ibadan Expressway, under a Design, Build, Operate and Transfer (DBOT) agreement.
Babalakin also runs other numerous subsidiaries including Stabilini Visinoni Limited, Homan Engineering Limited, Bi-Courtney Highway Services Limited, Bi-Courtney Aviation Services Limited, Resort International Limited, Amalgamated Estates Limited and many others is run by Dr. Babalakin
One of his subsidiaries, Resort International Limited, is a hospitality and leisure company that is currently engaged in converting the former Federal Secretariat, Ikoyi in Lagos to luxury blocks of flats, and also the development of a 300- bed hotel at MMA2. Significantly, Babalakin’s Bi-Courtney Highways Limited won the bid for the reconstruction of the Lagos-Ibadan Expressway before the Federal Government revoked the pact in November 2012.
Born in Ibadan over 60 years ago to the family of Justice Bolarinwa Oyegoke Babalakin (retired Justice of the Supreme Court of Nigeria) of Gbongan, Osun State and the late Mrs. Ramotu Ibironke Babalakin (who was a UK trained nurse and ran a very successful, but philanthropic medical home in Ibadan, where she was fondly referred to by all as ‘’Iya Alanu’’ interpreted as the merciful woman).
Babalakin started as a young man with great intellect and potentials. His jurist father was the one who instilled discipline into him early in life and brought out the best in him. He eventually turned out an excellent young man from Government College Ibadan, had his A ’Levels at the Polytechnic Ibadan, and ended up at the University of Lagos, where he graduated top of his class in 1981.
He was subsequently called to the Nigerian Bar in 1982, and immediately proceeded to Corpus Christi College at the University of Cambridge for his LL.M and PhD as a Commonwealth Scholar. He completed his PhD in record time of three years. Babalakin inherited his intellectual prowess from his father, who himself had a double promotion twice at Oduduwa College, Ile-Ife, where he spent only four years for his secondary school education instead of six. Not surprising though, Babalakin has passed the same gene to his own children, who all graduated 1st Class/Summa Cum Laude from Ivy League Schools like University College London, University of Pennsylvania and Harvard. In equal measure or perhaps more, he inherited philanthropic nature from his mother. A true son of his father, he has ventured into diverse businesses and excelled in all.
Dr Babalakin started his legal career at chambers of the legendary Chief Frederick Rotimi Alade Williams, QC, SAN where he learnt directly at the feet of the late legal luminary and around the famous Black Table. Within a few years, Dr. Wale Babalakin set up his law firm, Babalakin & Co. which continues to wax strong over the last three decades as a foremost specialized multi-practice firm in Nigeria. Babalakin reached the top echelon of the legal profession and was preferred with the prestigious rank of Senior Advocate of Nigeria in the year 2002. He has through Babalakin and Co., produced other SANs and legal icons in the persons of Messrs. Olawale Akoni, Chuka Agbu, Ms. Funke Aboyade, Mr. Tola Oshobi among others.
He is one of the very few senior lawyers in Nigeria who are seriously committed to building enduring institutions of legal practice.
Though it has not all been a bed of roses for the prolific entrepreneur, but he has exemplified the proverbial cat with nine lives in all facets. He has severally been taken through the fiery furnace but like gold, came out brighter, never bowed to pressure.
When he was called to the Nigerian Bar in 1982. That same year (1982), Wale Babalakin was one of only three Africans admitted into Corpus Christi College at Cambridge University for the pioneer Master of Laws Degree. Although his academic programme was sponsored by his father, he applied for the Commonwealth Scholarship. Wale Babalakin was awarded the LLM degree in 1983 and proceeded immediately with his doctoral programme. He received his PhD in 1986 on the eve of his 26th birthday.
Returning to Nigeria in 1986, Dr. Babalakin joined the firm of his mentor, Chief Frederick Rotimi Williams, where he worked for one year. He established his own firm, Babalakin and Co. Apart from being a practitioner, he is also involved in the publishing of Law Reports. In 2009, the owners of Nigeria’s first privately published Law Report, Optimum Law Publishers, which commenced in 1964, assigned their rights and interest in the Law Report to Babalakin & Co.
In 2005, Dr. Wale Babalakin was appointed by the then President of the Federal Republic of Nigeria, Chief Olusegun Obasanjo, as a member of the National Political Reforms Conference where he served on the Legal Reforms Committee. He also served as the Chairman of the Constitution Drafting Sub Committee which was ultimately responsible for the drafting of the constitution. He was the Vice-Chairman of the Committee for the review of the Evidence Act. He also had the unique opportunity of serving as the Chairman of two committees of the Nigerian Bar Association, namely the Real Estate and Construction Law Committee of the Section on Business Law and the Government Practice Committee of the Section on Legal Practice. He was appointed alongside Alhaji Rilwanu Lukman as Honorary Advisers to the government of President Umaru Musa Yar’Adua.
He has served as: Pro-Chancellor and the Chairman of Council of the University of Maiduguri between 2009 and 2013. Chairman of the Committee of Pro-Chancellors of Federal Universities in Nigeria. Chairman of the Implementation Monitoring Committee of the Agreements entered into between the Federal Government of Nigeria and the various unions of the Nigerian Universities namely the Academic Staff Union of Universities in Nigeria (ASUU), SSANU, NAAT and NASU. Chairman of the Federal Government Committee to Re-negotiate the 2009 Agreement between Federal Government and the University Unions. Current Pro-Chancellor and Chairman of Council of the University of Lagos.
He is heavily into philanthropy. He donated an 80-bed hostel to the University of Ilorin in the name of his father, the Hon. Mr. Justice Bolarinwa Oyegoke Babalakin. He also donated an 80-bed hostel in Ibogun, Ogun State, and a 500-seater auditorium to the Moshood Abiola Polytechnic in memory of his mother, Mrs. Ramotu Ibironke Babalakin. He also sponsored the treatment of 1000 patients with various eye diseases in Aye Daade Local Government and another 4000 in Owo Local Government under the foundation set up in memory of his late mother. He has an elaborate scholarship scheme in and out of Nigeria with over 200 students in Nigeria and over 40 students abroad.
Dr. Babalakin is happily married to his best friend, Olugbolahan, a lawyer and the daughter of the Honourable Mr. Justice and Mrs. Y.A.O. Jinadu, and both are blessed with very lovely children.