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Lamudi.com Whitepaper Reveals Nigeria’s Real Estate Key Influencers

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(L-r): Obi Ejimofo, managing director of Lamudi (Nigeria), Godwin Alenkhe, chairman, Lagos State Chapter and Sunday Paul, zonal chairman, Akoka, both from ERCAAN at the one anniversary of Lamudi Nigeria held in Lagos.
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Lamudi.com is a global property portal focusing exclusively on the emerging markets with presence in Nigeria, has released a whitepaper on the state of Nigeria’s real estate and general housing climate.

In the whitepaper, Lamudi revealed that the trends that have influenced the increase in real estate investment in Nigeria over the past five years to include, economic development (71%), infrastructural development (62%), standard of living (57%), migration, both inward and outward (38%) and average population age (38%).

Substantiating the report, a National Bureau of Statistics (NBS) data shows that the real estate sector now contributes up to 15% of the recently debased gross domestic product, “as investing in building is considered to provide a significant multiplier effect on the broader economy as it contributes to GDP through two main drivers, namely, private residential investments and consumption spending on housing services.

The report contains that the growth recorded in the overall Nigerian real estate sector on a year-on-year basis stood at 11% in 2012, which was demonstrative of a recovery in the sector and following significant falls influenced by the global downturn in 2009/10.

According to a report by Agusto & Co., a leading pan African credit rating and research agency, activity in Lagos State accounts for at least 40% of the total Nigerian real estate market.

Also, Ernst & Young (EY) report on Foreign Direct Investment (FDI) in Nigeria, has been growing at an annual rate of 23.4% over the last six years; while the country’s economic outlook has previously dependent on oil & gas, the non-oil sector has witnessed strong growth across agriculture, telecommunications and retail services.

On technology trends in house-hunting, Obi Ejimofo, managing director of Lamudi (Nigeria) told Nigeria CommunicationsWeek at one year anniversary of the Platform in Nigeria, that its (Lamudi’s) analytics shows, 30.5% of house-hunters searched for properties using a mobile device between May and October 2014; 43.26% of these visitors to the website used tablets to carry out the search, with 56.74% using other mobile devices.

Obi added that, however, there is still room for growth as 33% of real estate agents believe the internet is often used for house-hunting, and all respondents believe this will increase over the next decade.

He said, “Whilst traditional house-hunting methods remain popular in Nigeria, local real estate companies are also adapting to the changes in how people are using the web. According to Lamudi survey 81% of real estate agents believe that the most popular method for house-hunting remains the using a real estate agent.

“However, just under half believe that online listings are the favoured method with 67% of those asked revealing that they advertise their properties online”.

Nodding in agreement, Oyewale Adekunle, managing director of Ajibex and Company, said that, “social media is improving the growth of real estate, as all properties can now be listed and promoted online, to reach people both within and outside Nigeria”.

On his part, Udo Okonjo, chief executive officer, Fine & Country West Africa, stated that the advent of the internet and social media has boosted the avenues through which real estate agents can interact with clients, enabling more effective and efficient communication with those whose lifestyle are suited for such platforms.

Mr Sina Ganiu, senior partner & chief executive officer, Jide Taiwo & Co Estate Surveyors & Valuers, expressed delight with the Lamudi’s real estate revolutionary site.

Meanwhile, Lamudi with over 6000 real estate agents as partners, serving 32 million app users and 70, 000 per week visitors to the site, also revealed that 66% of people searching for properties within Nigeria, actually reside in the country.

The Lamudi Real Estate White paper was also launched globally in Asia, the Middle East, Latin America and other parts of Africa.

Allie Morse, CEO, Lamudi West and Central Africa said. “In its first year, Lamudi has cemented itself as a global leader in real estate, and we are honoured to welcome the best of Nigerian real estate to celebrate the launch of the white paper alongside our colleagues around the world.

“We want to ensure that our knowledge on the future of real estate in the emerging markets one that educates not just our clients but current and future customers too.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Jumia Nigeria Kicks Off Tech Week 2025

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Jumia, pan-African e-commerce platform, has launched its highly anticipated annual ‘Tech Week’ campaign, bringing consumers amazing deals on the latest gadgets and smart devices.

Under the theme “Future is in Your Hands,” this year’s campaign is designed to inspire Nigerians to embrace cutting-edge technology and innovation. Running from March 17th to March 30th, 2025, the campaign offers millions of customers access to unbeatable discounts on a wide range of tech essentials, including smartphones, laptops, home appliances, and entertainment systems.

In partnership with leading global and local brands such as Xiaomi, Oraimo, Binatone, Itel, SilverCrest, Ecoflow, Tecno, Realme, Skyrun, Century Appliances, Hisense, PZ Cussons, Unilever and Nivea, Jumia is committed to ensuring a seamless shopping experience with the best deals on high-quality tech products.

“We’re excited to present Jumia Tech Week 2025, a platform to enable Nigerians to have access to high-quality devices. With the rapid growth in digital adoption across the country, this campaign is designed to put the latest innovations within reach, helping customers stay connected, productive, and entertained. Our strategic partnerships with top brands allow us to deliver premium products at the best prices, making tech upgrades accessible to all,” said Sunil Natraj, CEO, Jumia Nigeria.

Commenting on the partnership with Jumia for Tech Week, Sylvie Zeng, Head of E-Commerce, Xiaomi, said “Xiaomi is focused on bringing cutting-edge technology to everyone, and Jumia Tech Week 2025 is the ultimate opportunity to experience our diverse range of innovative products at unbeatable prices.

“From the high-performance Poco series to the reliable and stylish Redmi smartphones, and a wide selection of AIoT devices designed to enhance your smart home, Xiaomi offers powerful, beautifully crafted technology for every need. This Tech Week, don’t miss out on the best deals to upgrade your lifestyle with Xiaomi, exclusively on Jumia!”

With over 142 million active internet subscribers reported in January 2025, Nigeria continues to witness an accelerated digital transformation. Jumia Tech Week caters to this dynamic shift, offering consumers a trusted platform to explore and acquire the latest tech essentials conveniently.

Beyond amazing discounts, Jumia Tech Week 2025 features exclusive flash sales, brand days, exciting giveaways, and interactive games throughout the campaign. Consumers can enjoy a seamless online shopping experience with secure payment options and pay-on-delivery services, ensuring accessibility for all.


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GOMYCODE Partners Woolf University to Offer Globally Recognised Master’s Degree in Software Engineering in Nigeria

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GOMYCODE, a leading technology education provider, has announced a groundbreaking partnership with Woolf University, a global collegiate higher education institution, to offer Master of Science in Computer Science with Specialization in Software Engineering to aspiring and established tech professionals in Nigeria.

This collaboration aims to provide accessible, high-quality, globally recognized education to individuals seeking to advance their careers and expand their opportunities.

The Master’s program is designed to empower busy professionals and ambitious individuals with advanced skills and qualifications, opening doors to global job opportunities and facilitating potential emigration for those seeking international careers.

“We are thrilled to partner with Woolf University to bring this exceptional opportunity to Nigeria,” said Yahya Bouhlel, Co-founder of GOMYCODE. “In today’s competitive tech landscape, advanced degrees are increasingly essential.

“This partnership allows us to provide a flexible, world-class education that empowers our students to achieve their career aspirations, whether they seek to excel locally or on a global stage.”

The program’s online, flexible structure caters to the demands of working professionals, enabling them to balance their studies with existing commitments. Students will benefit from Woolf University’s rigorous academic standards and GOMYCODE’s practical, industry-relevant approach to learning.

“Woolf University is excited to collaborate with GOMYCODE to expand access to quality higher education in Nigeria,” stated Naveen Jangir, Head of Strategy and Growth, from Woolf University. “Our mission is to democratize education, and this partnership aligns perfectly with our goal of providing accessible, accredited degrees to learners worldwide.

“We believe this program will equip Nigerian tech professionals with the skills and credentials they need to thrive in the global economy.”

Babatunde Olaifa, Country Head of GOMYCODE in Nigeria, emphasized the significance of this partnership for the Nigerian tech ecosystem.

“This collaboration represents a significant leap forward for tech education in Nigeria. By offering a globally recognized Master’s degree, we are empowering our professionals to compete on a global scale.

“This is a chance for people to level up their careers, and to open doors that they previously thought were closed.

“We are very excited to see the impact that this program will have on the lives of our students and the broader Nigerian tech community.”

This Master of Science in Computer Science with Specialization in Software Engineering program is ideal for tech professionals seeking to enhance their qualifications; Individuals aiming for global job opportunities; those considering emigration and requiring advanced degrees; ambitious individuals looking to accelerate their career growth.

GOMYCODE and Woolf University are committed to providing a supportive and enriching learning environment that fosters innovation and excellence.


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Tony Elumelu Foundation Set to Announce 2025 Cohort of TEF Entrepreneurship Programme

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The Tony Elumelu Foundation (TEF), Africa’s leading philanthropy empowering entrepreneurs is set to announce the 11th cohort of the TEF Entrepreneurship Programme on Saturday, March 22, 2025.

The 2025 announcement comes at a critical time, as Africa’s entrepreneurship ecosystem faces funding constraints and global economic headwinds. TEF continues to provide much-needed support, empowering African entrepreneurs to transform their ideas into sustainable businesses and engines of economic growth.

Each selected Tony Elumelu Entrepreneur will receive $5,000 non-refundable seed capital, a world-class business training on TEFConnect, one-on-one mentorship, and access to global networks and investment opportunities. The selection process is being conducted by Ernst & Young, to ensure independent assessment.

The impact of the Tony Elumelu Foundation extends beyond funding. It is changing lives and shaping Africa’s future, as witnessed by beneficiaries of the catalytic TEF Entrepreneurship Programme.

Ahead of the upcoming announcement, Tony O. Elumelu, C.F.R., Founder of TEF and Group Chairman of Heirs Holdings, reiterates his unwavering belief in the potential of Africa’s entrepreneurs:

“I believe that Africa’s transformation will not be led by aid, but by empowering the next generation of African entrepreneurs—giving them the tools, the funding, the training, and the networks to build sustainable businesses that create jobs and drive economic growth.

Over the past decade, we have nurtured entrepreneurs from inception to success, scaling our impact across all 54 African countries. We have provided capital and also developed a robust monitoring and evaluation framework that allows us to track the progress of our entrepreneurs and measure their contributions to their communities and economies.

No other organisation is implementing entrepreneurship development at this scale across Africa. We have learned, we have refined, and we continue to improve, ensuring that African entrepreneurs—women and men—are at the forefront of solving our continent’s challenges and creating wealth for themselves and their communities. Entrepreneurship is the key to Africa’s prosperity. I wish the 2025 cohort of Tony Elumelu Entrepreneurs success, as they chase their ambitions, and play their part in Africa’s transformation.”

The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries and ensuring inclusive economic empowerment.

Since the launch of the Tony Elumelu Foundation Entrepreneurship Programme in 2015, TEF has lifted over 2 million Africans out of poverty, provided 2.5 million young Africans with access to training on TEFConnect, and disbursed more than $100millon in direct funding to thousands of African entrepreneurs who have gone on to create over 1.5 million direct and indirect jobs and generate over $4.2 billion in revenue.

Tony Elumelu Entrepreneur Testimonials from Previous Years:

“I started my agribusiness with nothing but an idea. TEF changed everything. With the funding, training, and mentorship, I have now expanded across three countries and employ 25 people.”

– Fatima Diallo, Senegal, Agritech Entrepreneur

“As a woman in the fintech industry, it was difficult to secure funding. TEF not only provided me with capital but also the confidence and skills to build a business that is now attracting international investors.”

– Mary Okeke, Nigeria, Fintech Founder

“The TEF Entrepreneurship Programme helped me commercialise my clean energy innovation. Today, we provide solar solutions to over 50,000 homes in rural Tanzania.”

– Juma Nyerere, Tanzania, Renewable Energy Entrepreneur

For more details on the Tony Elumelu Foundation’s impact visit our Impact Page, African Success Stories Page, and Annual Report Page.

For Media Inquiries: [email protected]


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