General News
Lamudi, Top Real Estate Agents Speak On Market Trajectory for 2015
The real estate sector in Nigeria promises to be at its all time high this year, following the expressions of top agents in the country. In a bid to provide indepth understanding of what the real estate market for 2015 may hold, Lamudi Nigeria conducted a survey among selected top real estate agents in Nigeria.
Apparently, the agents believe that the impact of the electioneering and the devaluation of the Naira will be felt in the market in the beginning of the year, however, the market will definitely appreciate towards the last half of the year.
Here are their predictions for the sector in 2015.
Tope Ayodele, MD, Covenant Real Estate, said “At first quarter, the purchasing power of people will be low. Because of the Naira devaluation the market is presently unpredictable but in the short run the market will boom. The second quarter there will be a considerable rise but unpredictable because of oil price and elections”
Emeka Agu, MD, Emeka Agu & Co, said, “We are hoping we have a stable country, with a stable State business will boom and thins will kick off!”
Lawal Olaide Tresvant, Business Development, Efficacy Homes Limited “2015 is going to be a wonderful year! Because of the elections period there might not be much cash, but we have a wonderful package for our clients: very affordable housing and new investments as low as N10million”
To Bala Ishaku, Beverly & Sam, “The first quarter is going to be slow for residential but there shall be more interest in the commercial as new businesses are coming up. Elections is a factor but the flip side is there is a lot of trading in property; people selling in the high hand and developers looking to buy. It will kick up after the elections even though the purchase power will be low”
Also, Kola Ashiru-Balogun, MD, ARM Properties “The first Quarter is going to be dull because of elections. We foresee only 6 months of activities. It’s going to be a tough year but the demand is still there! People will reduce the price of their property to create a semblance of sales. The office demand will remain strong. Business is not as sensitive as people (households). But there would not be quality Class A space this will only be in 2016.”
Emmanuel Akpa, MD, Emma Akpa & Co said it will be good, “because some any upscale properties are coming such as: Rainbow town in Port Harcourt, Atlantic City or Lakowe in Lagos and Centinary City in Abuja as well as some new residential building on Gerard road, Ikoyi.”
Bosu Okusaga, Managing Partner, Babajide Okusaga, said, “We will witness stability in property transactions especially in the price until the middle of the year. In the fourth quarter things will start to kick off. Real estate will the best place to invest as interest rates will not be attractive thus people won’t go to banks also the price will be more realistic.”
Anthony Iraoya, Managing Partner, Pius Omeife and Co “The market is bright especially in Abuja. Politicians are selling properties to get fund but after Election they will start reinvesting. The market will be booming as the oil and gas crisis will be temporary. With 2 million housing deficit in Nigeria the demand is very high the only issue are the prices. If you build affordable homes before you market it they are off the market!”
Ayodele Thomas, MD, KingsCourtRealtors, also said “Due to uncertainty in the global economy as a result in fall in oil prices and slow demand from America and China. I foresee a bit of slowdown in real estate development in Nigeria, especially in luxury real estates, as a result of scarcity of funds. Investors’ sentiments are likely to change in terms of real estate investment.
“However, I see a boost in the rental market, and especially in the middle range housing. Other areas to watch out for are retail and recreational developments. Real estate opportunities will be driven in 2015 by new opportunities in middle income areas, especially around the Lekki-Epe Axis. Is 2015 a good year to invest? Yes, better to get in when prices are bottoming up than when rising. With the low demand in real estate in 2015 and scarcity of funds, prices will have to come down in 2015.
“We will however, see an upward shift from the 3rd to 4th quarter of this year. 2016 will be a golden year for Real Estate”.
Mr Motunde Aladeitan, head of Practice, Motunde Aladeitan & Associates also reiterated that”…The first quarter will be Dull as a result of the election, value will be static as reality of the crash in Naira will have its toil. Appreciation will improve only when there is trust on the economy…”
Mr Gbenga Odusiga (Partner), Gbenga Odusiga & Co.. noted that “…Activities in real estate market for residential properties in Abuja will improve by the middle of 2015,rents will not necessarily increase because supply and demand will be at equilibrium owing to the near completion of various on-going estates developments especially the mass housing & request for purchase of estate plots…”
And to Fola Obabiyi, managing partner, Bosiva Realtors, Real Estate and Property Consultancy…. “The property market in 2015 as regards Abuja, the F.C.T. Promises to be an exciting one, though it is starting rather on a slow note due to a lot of economic factors such as the devaluation of the Naira and non payment of civil servants salary knowing fully well that the major workforce in the F.C.T are the Civil servants.
“But it would definitely pick up in the coming months because it is an election year, new politicians would be sworn in into various offices and they are coming with a retinue of aides and of course their families. This means houses that are in the market both for lease and for sale would be occupied by these people. But if the after election violence can be avoided, then the property business promises to be exciting this year
Mr Fergus Esezobor, partner, Sheffieldoaks Real Estate Solutions, said “Another factor why the property market is slow is because of the outcome of the election, would be investors are waiting to know what would be the aftermath of the election before investing, they don’t want to invest now and find out that they have to leave their investments and relocate to their states because of the violence that might erupt after the general elections…”
“…The industry has achieved exponential growth over time given the existing rapid rate of urbanization and high property rates. My first instinct is that it is election year, most buyers and sellers’ perception of the market is negative. So, i expect properties to remain fairly consistent throughout the year. I do not see a big dip in values or a rapid increase in the market values. What i predict is a very small gain more than likely to occur throughout the year…”
Engr. Ayodele Ogunlana, Baocam and Truss LTD “…As we go into the year 2015, prices of properties both for sell and lease are likely to remain stable throughout the year; we might witness a little dip in the prices of luxurious properties across the nation; ardently more in the Federal Capital Territory. With the dwindling oil prices and the recent devaluation of the Naira amidst the prevailing economic situation, fewer cash would be available for Government in the state and federal levels to investment in the real estate sector.
“However, I perceive that more Public Private Partnerships (PPP) would be entered into this year compared to the presiding year, as the stake holders would be more confident to deal, knowing that the Public Official would have at least four years in the case of Governors and President to be in office.
“In general, most of the real estate transactions to be done this year would be post February 14th presidential election, with a sharp rise after a successful May 29th Democracy day…”
General News
NiDCOM Launches Diaspora Startup Challenge to Boost Nigerian Talent

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.
General News
PromoPrint Rekindles Nigerian Resilience @ 25th Anniversary

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.
General News
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, 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
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.”
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