Yinka Folawiyo & Sons, the parent company of the Group, was founded in 1957 to develop import/export business between Nigeria and Europe and it was incorporated as a Limited Liability Company in 1967. Following a visit to East Europe in 1958 by the promoter of the Group, Alhaji Chief (Dr.) W. I. Folawiyo, CON, the company was the first to develop a thriving trade between East Europe and Nigeria. From importing cement and sugar successfully from U.S.S.R., Yinka Folawiyo & Sons Limited expanded the trade to Bulgaria and Romania purchasing large quantities of cement and construction materials. These trading operations were further developed to include the importation of milk products, tinned and frozen fish, fertilizers and other essential commodities.

As the volume of trade increased, Yinka Folawiyo & Sons became the first indigenous company to engage in sufficient bulk purchase to warrant chartering ships to service the trading operations. Until this time shipping operations to and from Nigeria had been monopolised by foreign companies. However, with the formation of Maritime Associated (International) Ltd. to carry out chartering, agency, clearing and forwarding activities, the Company was invited by the Nigerian Produce Marketing Company (NPMC) to apply to become a National carrier for Nigeria’s vitality important agricultural exports of cocoa, palm kernels and ground nuts. Of the thirty-five indigenous carriers existing in 1976, Maritime Associates (International) Ltd is the only company still operating.

As the Group’s chartering activities developed and demand for shipping space increased, Nigerian Green Lines was founded in 1972, as a ship owning and operating company. From the purchase of M.V. “Ahmadu Tijani” (10,826 tons dead-weight) in 1973, Nigerian Green Lines Ltd. blossomed in six short years to become the largest privately owned shipping company in West Africa with a fleet of six general cargo vessels totalling 87,807 tons dead-weight.