Connect with us

General News

Lamudi Mobile App Redefines Real Estate Sector- Ejimofo

Published

on

Obi Ejimofo, MD Lamudi Nigeria
Kindly share this post

Obi Ejimofo, MD Lamudi Nigeria before joining Africa Internet Holding has worked in global strategic product and technology roles for Philips Electronics and Thomson Reuters before focusing on business development and market entry strategies in Sub-Saharan Africa as an independent consultant.
He started his career in start-up ventures with Open Interactive – the Interactive TV venture that is now Sky Interactive, BSkyB.
Obi spoke to Peter Ugwu about the Lamudi App and how IT is adding value to Nigeria’s real estate sector.

Lamudi’s Real Estate Market Philosophy
What Lamudi provides is an online market place for sellers to put up their (real estate) property and woo buyers or clients. The value proposition comes in two phases.
‘From the sellers’ perspective, they will be able to make their property available to as many buyers as possible. For instance we have 15,000 people who visit our site every week.
Lamudi has a large base of subscribers; so if your property meets their needs, they will contact you. From the buyers’ point of view, it is a similar scenario.
They come online and view property available and based on their interests on location, features and designs, they will be exposed to various sellers and agents.
This will automatically give them options. The whole process provides the prospective buyer with convenience and choice.

Lamudi’s Intentions with its Mobile App
We want to help the real estate market become, somewhat more efficient. There will always be landlords, agents and buyers.
What we are doing is to make it possible for both agents and buyers to have more access to information. At the end of the day, when they are ready to carry out a property transaction, they will have to meet in person.
 I wouldn’t advise anyone to purchase property based just on what they see on the internet. It is not practiced that way in the UK, the US, here in Nigeria or anywhere.
Buyers should always gain physical access to the property before buying. The platform, basically, offers the best opportunity for people to be informed on what they are looking for in real estate.
We do not engage in any transactions, we are just providing the channel for both parties to meet.

Checkmating Property Fraud
We understand that trust is very essential in the real estate market. So people are looking up to us based on what they see on the site to make informed decisions.
As of today, we have categorized our agents based on the level of personal relationship we have with them. For our “Trusted Sellers”, we can personally attest to their integrity and sincerity in the market.
We are also working with quite a number of professional real estate associations today to establish new categories for their members.
So, the contact we have with the professional body is leveraged when their members join our portal. If an issue around professional misconduct arises, we can work hand-in-hand with the association to resolve the matter. Of course, we cannot regulate the market, but we can help it become more effective.
Lamudi is there as an integrator in the system; bringing many stakeholders together.

Market Response to the Lamudi Portal
First of all, Lamudi only went live 10 months ago. Since then, the platform has grown to over 18,000 listed properties.
 Secondly, in terms of visitors, Lamudi has gone from just under 4,000 people coming online to the platform looking for property to over 15,000 people in just the last 4 months.
 Thirdly, within the same four months, our visitor mix has gone from about 30%visiting the platform from outside the country, to about 25%.
The reason the number is going down is because local patronage is increasing significantly. We are also seeing 15% of visitors go on to pick up the phone or email our agents. For a property platform that is a huge conversion rate.

Seamless Property Search
I will be biased in assessing the site. One thing is that we have done a good job. It is very well designed and easy to navigate.
 Asides from the property listings, we have created a blog or journal section packed with insights, news, and knowledge on the essentials of the home purchasing, interior design, old Nigerian architecture, mortgages and other features.

View on Government Intervention
I am a believer in private enterprise. The government did not necessarily give us the internet; it came as a result of the privatization of the telecom industry.
 While there are challenges, there are also an estimated 56 million Nigerians going online in a year, with about 48 million of them going online to either seek information or to transact business; and those are the 48 million we are interested in. An estimated 20 million Nigerians are accessing the internet via smartphones which led to us unveiling the Lamudi App for the Android today and we will soon launch for the iOS as well.
So there are inhibiting factors, but the demand is high already. Nigeria, in terms of growth and adoption, it is the sixth fastest growing market in the world.
So, Nigerians have not allowed the challenges to deter them from progressing in their internet usage.
So, we do not need to wait for things to be perfect; I know Nigerians are not waiting; they are using the rare opportunity at their disposal to make things happen.
With the statistics out there, we are already using the internet. Any improvements will be fantastic. If the government can completely increase broadband bandwidth, that will take the market to the next level.
Need For Cyber Security
The internet is nothing less than a reflection of happenings in the real world. If there are fraudsters in the real world, definitely, they will replicate their activities on the internet.
The challenge in the real world is finding out who is a fraudster. Its easier to do so on the internet, for instance, FaceBook where we have over nine million Nigerians using the platform, when people use comments and posts to raise the alarm about a particular user, it spreads like wildfire.
That on its own helps to identify fraudulent practitioners. Unless that user changes his profile name, he will find it difficult to continue to fool or defraud people.
Internet users are also beginning to appreciate the need to be cautious while online. Through due diligence and other authentication and verification methods, sanity is being restored online.
Before people go ahead to conduct businesses with you, they go through your LinkedIn and Facebook profiles, your twitter handle, and other channels.
They contact people who are your friends or followers; that alone is a way of conducting due diligence. The great thing about the internet is the ability to conduct research and due diligence. In law, there is something called caveat emptor (let the buyer beware); it is up to every person conducting a transaction to make sure who you are dealing with is the proper contact. The online shops can tighten their end, but that does not rule out the roles users have to play.

Lamudi App and e-Payment
A lot of things are yet to happen in the Nigerian e-payment ecosystem. From Lamudi’s point of view, we are simply enabling the two concerned parties to strike a deal.
If you look at the Nigeria’s e-payment space there are close to 40 different players.
The market is yet to shape up to give the industry, a supposedly, dominant player, so that everybody can use the platform. But with competition, the market will sort itself out.


Kindly share this post

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.

General News

NiDCOM Launches Diaspora Startup Challenge to Boost Nigerian Talent

Published

on

Kindly share this post

The Nigerians in Diaspora Commission (NiDCOM) has sought to harness the innovation and expertise of Nigerians across the globe with the launch of the Connected Diaspora x DOWA Start-Up Challenge and the Connected Diaspora Flagship Event 2025.

Speaking at a news conference in Lagos, Abike Dabiri-Erewa, Chairman/CEO of NiDCOM, described the initiatives as timely and transformative, noting that they are strategically designed to tap into the creativity, enterprise and professional strength of Nigerians in the diaspora.

She said the Start-Up Challenge, themed “Building, Breaking and Believing in Nigeria,” aims to energise innovators abroad by promoting knowledge transfer, enterprise development and strategic investment to support Nigeria’s rapidly expanding economy.

According to a statement by NiDCOM, the challenge, which offers cash prizes of up to ₦1 million, is targeted at spotlighting exceptional ideas and supporting impactful ventures created by Nigerians living overseas.

According to Dabiri-Erewa, the initiative aligns with the Federal Government’s overarching goal of engaging the diaspora community as key partners in national progress.

She further announced that the Connected Diaspora Flagship Event will take place on December 19, 2025, in Lagos, and will bring together entrepreneurs, policymakers, investors, technology leaders and strategic partners for critical discussions on Nigeria’s future.

Kadiri Hamzat, Deputy Governor of Lagos State, will serve as the Special Guest of Honour and is expected to speak on the importance of collaboration between government and the diaspora in accelerating development.

NiDCOM also revealed that notable contributors from the global diaspora community and Nigeria’s entrepreneurship ecosystem will enrich the sessions and help shape new pathways for meaningful engagement.

Dabiri-Erewa said their support remains invaluable in driving the success of the initiative. She emphasized that their continued collaboration helps unlock the potential of Nigeria’s global talent pool and fosters sustainable economic growth.

The Commission called on stakeholders across both the public and private sectors to support the initiative, stressing that the opportunities for innovation, collaboration and nation-building are immense.

NiDCOM urged young Nigerians and diaspora returnees to participate actively in the Start-Up Challenge, reminding them that entries close on December 12, 2025.

The December event will also feature a Diaspora Talent Career and Internship Fair, aimed at connecting diaspora returnees with internship opportunities offered by DOWA partner organisations.

NiDCOM said the fair will further strengthen talent exchange and deepen the country’s development capacity.

The programme timeline includes the opening of applications for the Start-Up Challenge from November 18 to December 12, followed by public voting on Instagram from December 13 to 17.

The winner will be announced on December 18, ahead of the final presentation at the JK Randle Centre in Lagos on December 19.

NiDCOM encouraged interested participants to follow the provided registration details and take advantage of the platform created to connect, innovate and contribute to national advancement.


Kindly share this post
Continue Reading

General News

PromoPrint Rekindles Nigerian Resilience @ 25th Anniversary

Published

on

L-r; Dr. Chukwuka Monye, Founder, Ciuci Consulting; Mrs. Bola Adesola, Chairman, Ecobank Nigeria; Mrs. Patricia Ojora, CEO PromoPrint Ventures Ltd and Mr Jonny Baxter, British Deputy High Commisioner at the 25th anniversary of PromoPrint Ventures held in Lagos recently.
Kindly share this post

Indigenous printing company, PromoPrint Ventures Ltd, celebrated 25 years of operations in the country on Tuesday 2nd December, at an event held at the Lagos Motor Boat Club in Lagos.

The evening saw business executives, clients and stakeholders in the printing space gathered to attest to the dexterity and Nigerian resilience demonstrated by Mrs. Patricia Ojora, the Founder and Chief Executive of the company in sustaining the growth of PromoPrint over the last 25 years.

Amongst many things on display that evening were PromoPrints very first t-shirt printed in the year 2000. Guests also cheerfully adorned custom-made patterns done by Promoprint on our indigenous cotton fabric (Funtau).

In her opening remarks, Mrs. Patricia Ojora recalled the past 25 years of operation in Nigeria at the helm of PromoPrint. While not easy, she says:

“We’ve been able to do it and we enjoy it. There’s nothing better than creation. To create something from nothing and do it so well, it’s a passion for me. It’s something that I really, value.  I’m a great supporter of Nigeria, so I believe that we should be able to do things well in Nigeria. We don’t need to always import, that’s why we’re doing this today, to be able to collaborate with people. Most of the people here are people we’ve collaborated with and have worked hard to build Nigeria back up”.

She recounts how she was able to change the narrative of many Nigerians that were printing outside of the country who are now printing with PromoPrint Ventures. “People used to print outside the country because they didn’t trust the quality that was here in Nigeria,” Patricia explains with an understanding that “we can produce good quality here within Nigeria.”

The company is a one-stop shop for all things printing with all operations happening in-house, from the expertise of crafting graphics and garment production to the t-shirts, roller banners, corporate gifts and more being rolled out on a daily basis. “What we are selling is peace of mind in a chaotic place.” Patricia says, with nearly three decades of successful operations and collaboration under her belt.

Significantly, she makes sure the company remains primed for the future, using AI and the like to remain progressive in strategy and implementation. Patricia proudly states, “Our automated printing carousel can churn out 10,000 tees a day if needed and our many corporate clients can attest to this.”

In attendance was Atedo Peterside (CON), Founder, Stanbic IBTC Bank Plc, one of many guests in the room who spoke to PromoPrints impact. “There’s something about longevity,” he shares with the crowd, “If you’ve kept the business going for 10 years, I always tell people, it means you’re doing something right. If you get it going for 20 years, you’re doing something very correct. Patricia must be doing something phenomenally right and it’s my sincere hope that she keeps it going, keep building, keep innovating.”

“Patricia can create almost everything,” Peterside remarks, “she has the courage, audacity and the commitment.”

Mrs. Ibukun Awosika, Nigerian businesswoman and the first female Chairperson of First Bank of Nigeria, contextualises the tenacity of Patricia’s efforts rather well. She reminds the room that “when you think of how many big multinationals who have so much that protects them, who have a lot of support systems internationally and locally, who gave up on Nigerian manufacturing, then you have to go back and think about those of us like Patricia.”

Even after 25 years, Nigeria remains in need of more Entrepreneurs, particularly those like Patricia, to boost the SME and manufacturing industry in the country despite the odds. “She didn’t give up,” Awosika says in admiration.

“What is key is that, when we celebrate the likes of Patricia and her company, we know without a doubt that it’s not just because they want to have a celebration. It’s because, in truth, the Nigerian entrepreneur is a star, and even more so, the Nigerian manufacturer.” Awosika concludes.

So, we celebrate Mrs. Ojora and her PPV entire team, and all that has gone into 25 years of hard work, commitment, creativity, we also recognise the passion that does not allow you to give up on the vision, the commitment to not only creating jobs for other Nigerians but creating value within Nigeria. The commitment to innovating a solution for every challenge and every situation. Indeed, it was a worthy celebration.


Kindly share this post
Continue Reading

General News

Optimus AI LABS CEO Showcases AI Breakthroughs in Nigeria’s Financial Sector

Published

on

Kindly share this post

Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS, has unveiled a suite of artificial intelligence innovations poised to transform Nigeria’s financial services industry, aligning with recent Central Bank of Nigeria (CBN) directives on consumer protection and fraud prevention.

Optimus AI LABS CEO Showcases AI Breakthroughs in Nigeria’s Financial Sector

Mr. Lanre Basamta, Chief Executive Officer and Co-Founder of Optimus AI LABS

Basamta, speaking at a media parley in Lagos, said the company’s flagship product, Omnis, is redefining customer engagement in banking by serving as a virtual assistant embedded within mobile applications.

According to him, the platform is capable of analyzing customer behavior to recommend tailored financial products, effectively functioning as a “digital salesperson” that boosts bank revenues while enhancing customer experience.

He noted that Optimus AI LABS, which began as a modest startup targeting small businesses such as schools, has now identified greater opportunities in serving banks, fintechs, and microfinance institutions.

“The financial sector presents the biggest opportunity for AI to deliver value at scale,” Basamta said.

In response to rising fraud concerns and new CBN regulations mandating resolution of fraud cases within 14 days, Basamta highlighted the company’s AI-powered support platform designed to address customer frustrations over delayed assistance.

The system, he explained, interacts naturally with users, resolves issues promptly, and escalates unresolved cases, thereby strengthening compliance and improving customer satisfaction.

Basamta also recounted the firm’s global expansion, citing its work with Canadian clients, including the development of a dental learning environment for a major dental group.

He said this international footprint demonstrates Nigeria’s capacity to compete globally through homegrown innovation.

Reflecting on the company’s relocation into office space formerly occupied by KUDA, a fast-rising Nigerian fintech, Basamta expressed optimism that Optimus AI LABS is on a similar trajectory toward scaling into a major industry player.

He emphasized that the company’s growth would contribute not only to technological advancement but also to national development.

Basamta concluded by appreciating partners and stakeholders, stressing that “big things can emerge from small beginnings when powered by AI’s transformative capabilities.”


Kindly share this post
Continue Reading

Trending