Experts Call for Strategic Investments, Policy Support to Strengthen Nigeria’s Real Estate Sector

By: Michael Mike

Industry leaders and policymakers have emphasized that Nigeria’s real estate sector which is projected to hit $2.6 trillion this year requires strategic investments and stronger policy support to drive economic growth.

This was the outcome of the recently concluded Eklisia Realtors’ Conference 2.0, themed: “Staying in the Game,” which brought together top professionals to discuss trends, financial strategies, and policy initiatives essential for a resilient property market.

Organised by Adozillion Homes and Realty, a firm committed to redefining property ownership and investment, the event served as a platform for real estate professionals across the nation to gain firsthand insights from experts on market trends, branding strategies, financial management, and investment best practices.

Speaking at the conference in Lagos, Dr. Simon Adozi, CEO of Adozillion Homes and Realty, highlighted the immense potential of the real estate sector, projecting it to hit $2.6 trillion in Nigeria by 2025. He emphasized the sector’s significant role in Nigeria’s Gross Domestic Product (GDP), contributing 6%, and underscored the importance of understanding the market and leveraging financing options for long-term success.

“The real estate sector in 2025 is projected to hit $2.6 trillion in Nigeria alone. This industry contributes 6% to our GDP, and such a crucial sector cannot be overlooked. At Adozillion, we are committed to not just selling properties but building a legacy of trust, delivering real value, and empowering realtors with the tools to thrive,” Dr. Adozi said.

In less than three years, Adozillion Homes has successfully delivered over 100 homes, reinforcing its reputation as a trusted real estate brand in Nigeria. With a focus on strategic expansion, the company has extended its footprint beyond Lagos, launching the Mufasa series across Lagos, Ogun, Benin, and Now Enugu. These expansions demonstrate Adozillion’s commitment to providing prime investment opportunities across Nigeria.

Delivering his address, CEO of Payaza Africa, Seyi Ebenezer underscored the role of integrity in business success, saying “Integrity is the hallmark of finance. If you have integrity, funding and investment will come to you. However, if you default on commercial payments, your credibility will be marked, and no one will do business with you.”

Other notable speakers at the conference included Deputy Chief of Staff, Lagos State Government, Sam Egube, CEO of Fifth Gear Consulting, Niyi Adesanya, Deputy Director of FBN Quest Asset Management
Ifeoluwa Dixon, Media Buyer
Adesola Adeyemi; and Certified Financial Education Instructor, Seyi Abiodun. Each speaker provided invaluable insights to help realtors and investors navigate the evolving real estate landscape.

One of the highlights of the conference was a grand raffle draw, where randomly selected winners received prizes such as microwaves, a coffee maker, shopping vouchers, and an exclusive 300 sqm plot of land — all courtesy of Adozillion Homes and Realty.

With its continued expansion and dedication to delivering high-quality properties, Adozillion Homes and Realty remains at the forefront of shaping the future of real estate in Nigeria.

Experts Call for Strategic Investments, Policy Support to Strengthen Nigeria’s Real Estate Sector

Partners in Progress: Nigeria-China @54

By Raphael Oni

As Nigeria and China celebrate 54 years of diplomatic relations, established on February 10, 1971, it’s essential to reflect on the journey so far and the promising future that lies ahead. This milestone is particularly significant, given the recent visit of President Bola Tinubu to China in September 2024, where he met with President Xi Jinping, upgrading relations to comprehensive strategic cooperation.

The Nigeria-China relationship has been a beacon of cooperation and mutual growth, with both nations benefiting from each other’s strengths. Over the years, China has emerged as one of Nigeria’s most significant trading partners, with bilateral trade reaching $22.6 billion in 2023. This robust economic engagement has created over 100,000 jobs in Nigeria, courtesy of Chinese investments.

Key Pillars of Nigeria-China Relations

One of the key pillars of Nigeria-China relations is the “One-China” policy, which Nigeria has consistently adhered to. This policy recognizes the People’s Republic of China as the sole legitimate government representing the whole of China, including Taiwan. As a result, Nigeria does not recognize Taiwan as a sovereign state, and this stance has been reinforced through various diplomatic efforts.

In January 2017, Nigeria took a significant step in correcting a diplomatic blunder by ordering Taiwan to relocate her Trade Mission from Abuja to Lagos. This move was seen as a reaffirmation of Nigeria’s commitment to the “One-China” policy and its desire to strengthen ties with Beijing.

Chinese Investments in Nigeria

Nigeria’s adherence to the “One-China” policy has been reciprocated by China through various forms of economic and infrastructure support. China has become one of Nigeria’s largest trading partners, with bilateral trade reaching $19.27 billion in 2019. Chinese investments in Nigeria have focused on critical sectors such as:

• Infrastructure Development: China has invested in several infrastructure projects, including the Abuja-Kaduna Railway, Lekki Free Trade Zone, and Zungeru Hydro Power Dam.
• Energy: China has supported Nigeria’s energy sector through investments in renewable energy initiatives.
• Agriculture: China has provided training programs for Nigerian farmers, focusing on modern agricultural techniques and best practices.
• Manufacturing: China has invested in Nigeria’s manufacturing sector, creating new opportunities for economic growth and job creation.

Nigeria-China Strategic Partnership

As a result of President Tinubu’s visit to China in September 2024, Nigeria established the Nigeria-China Strategic Partnership, with Joseph Tegbe as its Director-General. This partnership aims to deepen economic cooperation, promote cultural exchange, and enhance strategic collaboration between the two nations.

The partnership will focus on several key areas, including:

• Agriculture: Nigeria and China will collaborate on modernizing agricultural practices, increasing productivity, and enhancing food security.
• Alternative Energy: The partnership will focus on developing Nigeria’s renewable energy sector, reducing dependence on fossil fuels, and promoting sustainable development.
• Solid Minerals Development: China will support Nigeria’s efforts to develop its solid minerals sector, creating new opportunities for economic growth and job creation.
• Healthcare: The partnership will strengthen Nigeria’s healthcare system through knowledge sharing, technology transfer, and the deployment of Chinese medical experts.
• Education: Nigeria and China will collaborate on vocational training, STEM education, and academic exchanges, equipping Nigerian youth with modern workforce skills.

Capacity Building Initiatives

China has also been actively involved in various capacity-building projects in Nigeria, aimed at enhancing the skills and knowledge of Nigerian professionals in key sectors. Some examples of these projects include:

• Agricultural Training Programs: China has provided training programs for Nigerian farmers, focusing on modern agricultural techniques and best practices.
• Infrastructure Development Training: China has offered training programs for Nigerian engineers and technicians, focusing on infrastructure development and management.
• Information and Communication Technology (ICT) Training: China has provided training programs for Nigerian ICT professionals, focusing on the latest technologies and trends in the sector.
• Healthcare Training Programs: China has offered training programs for Nigerian healthcare professionals, focusing on modern medical techniques and best practices.

Conclusion

As Nigeria and China celebrate 54 years of diplomatic relations, it’s clear that their partnership has entered a new era of strategic cooperation. With a shared commitment to mutual growth, cooperation, and development, both nations are poised to achieve great things together.

The future looks bright for Nigeria-China relations, driven by mutual respect, trust, and cooperation. With Joseph Tegbe, who has a proven track record of successfully navigating complex international partnerships, at the helm of the Nigeria-China Strategic Partnership, I am confident that the partnership will continue to yield significant benefits for both nations.

Partners in Progress: Nigeria-China @54

Northern Christian Professionals Charge EFCC on Monitoring of Local Government Funds

By: Michael Mike

The National Christian Youth Professionals, NCYP, has called on the Economic and Financial Crimes Commission, EFCC to strictly monitor the management of funds accruing to local government areas across the country owing to the financial autonomy granted them by the government.

This call was made in Abuja when the Chairman of NCYP, Isaac Abrak led a delegation on a courtesy visit to the Executive Chairman of the EFCC, Mr. Ola Olukoyede at the corporate headquarters of the Commission.

Abrak explained that development at the grassroots level was low and that only prudent management of resources being channeled to local government areas could accelerate growth, reduce poverty and light up the areas.

He said: “We come from the grassroots, we know what’s going on in the local government, we thank the President for giving the local government autonomy. If the local government can achieve 40 percent of what they are supposed to do, we can record a robust development. That is why we came to you, we want proper monitoring of the management of resources ,we want to offer our hand of partnership so that the commonwealth sent to the grassroots is utilized.”

The youth leader applauded Olukoyede on his strides as the EFCC’s boss, stressing that his performance has shown that he is living up to the demands of his faith as a Christian, adding that: “We are proud of you. You have represented our faith in a standard manner.”

He also commended the professionalism and diligence of officers of the EFCC in winning the P&ID case for Nigeria in 2023 and expressed satisfaction with the record-breaking achievements of Olukoyede since he assumed duties as the EFCC’s Chairman.

Abrak decried the rising involvement of youths in internet fraud in the Northern part of Nigeria, maintaining that “cyber-crime has encroached into the North and we want the EFCC to intensify its operations in this part of the country”.

Responding, Olukoyede appreciated the group for the visit, urging members of the group to use their platforms to unite Nigerians to do what is right.

“Doing the right thing has nothing to do with whether you are a Christian or a Muslim. Let’s continue to operate as people of integrity irrespective of our faith”, he said.

He agreed with the group on the need for closer monitoring of allocations to the local government, stressing that the Commission will continue to do its job in the overall interests of the nation. “There is need for us to monitor allocations going to the grassroots and we have started that already. We have a department called Fraud Risk Assessment and Control that is closely monitoring and tracking payments, contracts and other releases to ensure that funds are expended on what they are meant for.

Northern Christian Professionals Charge EFCC on Monitoring of Local Government Funds