Terry Waya Claims He Made Banana Island

Nigerian businessman and socialite Terry Waya has once again claimed that he created Banana Island, the upscale residential area in Lagos.

Banana Island is a man-made area taken from the Lagos Lagoon and linked to Ikoyi. It is famous for its expensive homes, high property values, and rich residents. The estate has planned roads and underground utilities.

Reports say the original idea came from late civil engineer Adebayo Adeleke, who wanted a bigger project called Lagoon City. The banana-shaped estate was then developed by the Chagoury Group with the Federal Ministry of Works and Housing.

Mr Waya’s latest claim is not the first time he has talked about his involvement in the estate's creation.

Previous Claims

In a 2020 interview with BBC Pidgin, he mentioned that he learned about the project during a visit to the then Minister of Works, General Abdulkarim Adisa.

He claimed that the government was looking for a development partner and that he brought in the Chagoury Group to carry out the project.

During a recent appearance on School of Hard Knocks on Wednesday, Mr Waya again connected himself to the estate’s development.

"I was the one that created Banana Island using my military contacts. Today, the richest people in Nigeria live there," he said.

He also called himself a billionaire for 20 years, one of Nigeria’s biggest farmers, and a businessman whose main asset is his network.

“Billionaire Not Millionaire”

In the Instagram interview on Wednesday, Mr Waya corrected the interviewer when asked about becoming a millionaire, saying it downplayed his wealth.

Mr Waya, who invests in agriculture and other businesses, disagreed with the idea that he was just a millionaire, saying, "I’m not a millionaire, I’m a billionaire. I became a billionaire 20 years ago."

"I’m one of the biggest farmers in Nigeria. Very, very serious farmer."

The flashy billionaire from Benue boasted that he could rebuild his wealth from scratch if he lost everything, saying he knows how to make money.

"My secret is investment in people. So tomorrow, if I get up and I happen to need anything, just a phone call away, I have enough contacts. Yes, I’ve got a lot of network."

“Nigeria and Billionaires”

Mr Waya also mentioned that many Nigerians become billionaires because they can watch, learn, and copy successful business ideas.

He said their smartness helps them spot chances in other people's businesses and take steps to build their own wealth.

"Nigerians like to copy, and any copy is always better than the original. Because you go to a board meeting with a Nigerian, he’s intelligent enough to watch you take the first move. No, he will destroy you from your first move.

"From your first move, he knows where you are going. When you are going to a negotiation, a desperate man will always make mistakes. I hate desperation. I’m calm. Go in as if you’re not interested, and then you have the edge."

Advice

Mr Waya also advised billionaires and wealthy people to remember the journeys that led them to success, no matter how high they have gone.

He warned that they might need those same paths to return to where they started one day.

"If you lose your family trying to be rich, when you get rich, you may not have them back. They are gone. Just pray that you don’t lose too much in trying to be successful."

When asked about the most money he made in a single year, he said, "Around 200 million."