Nigerian businessman and socialite, Terry Waya, has claimed that he played a major role in the creation of Banana Island, one of the most expensive and exclusive residential estates in Lagos State.
Waya made the revelation during an appearance on the School of Hard Knocks podcast, where he spoke about his business journey, wealth, investments and connections.
The businessman said he used his military contacts to facilitate the development of Banana Island, adding that the estate has become home to some of Nigeria’s wealthiest individuals.
According to him, he was instrumental in bringing the high-end residential development into existence and remains proud of its transformation into one of the country’s most prestigious neighbourhoods.
Speaking during the interview, Waya said: “I was the one that created Banana Island using my military contacts. Today, the richest people in Nigeria live there.
“I’m not a millionaire, I’m a billionaire. I became a billionaire 20 years ago.”
He also described himself as one of Nigeria’s biggest farmers, insisting that agriculture is among the sectors where he has made significant investments.
Waya attributed his business success to his ability to build strong relationships and invest in people, explaining that having a reliable network has given him access to opportunities and support when needed.
He said his investment strategy goes beyond accumulating money, stressing that maintaining valuable relationships has remained an important part of his business philosophy.
The businessman also shared his views on Nigerians and business negotiations, describing them as intelligent, observant and strategic.
According to him, successful negotiations require patience, confidence and the ability to avoid desperation, noting that people who appear too eager to secure deals can easily make costly mistakes.
Waya advised businesspeople to remain calm during negotiations and avoid revealing their intentions too early, explaining that patience can provide an advantage when dealing with others.
He further cautioned against sacrificing family relationships in the pursuit of wealth, warning that money cannot always restore important relationships once they have been lost.
He stressed that while financial success is important, people must maintain a balance between building wealth and preserving their families.
The businessman’s comments have drawn attention to his claims about Banana Island, his reported business achievements and the role he says his military connections played in the development of the prestigious Lagos estate.
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