Experts in Nigeria’s real estate industry, Wisdom Oluwaseun Okoko and Tiamiyu Anthony Ojo, have explained why the nation continues to grapple with the difficulty of providing shelter for its fast-growing population.
According to them, with over 200 million population, the Nigerian government cannot singlehandedly solve the problem of shelter, adding however that encouraging real estate investments and startups is the country’s best bet.
Wisdom Oluwaseun Okoko and Tiamiyu Anthony Ojo, who are the co-founders of Orbit Africa Properties Limited, a real estate startup, explained that the industry has been enduring a series of challenges in its efforts to meet Nigeria’s housing demands.
They highlighted economic insecurity and uncertainty, and the stereotypes that the industry is fraudulent as factors affecting investments.
“Starting a real estate company from scratch can be overwhelming and scary.
“This stems from the fact that the real estate industry, although lucrative, is highly notorious, capital intensive, governed by complex regulations that must be strictly adhered to, to mention a few,” the co-founders said in a statement marking the first-year anniversary of the company.
Continuing, the co-founders of Orbit Africa stated that the company in the last twelve months, has been able to build trust with over five projects in strategic locations in three states and the FCT, especially the “launch of our first project-Kinshasa Africa in Kobape, Ogun state.”
Speaking on the company’s achievements in the last one year, Wisdom and Anthony explained that starting a real estate company in an unstable economic climate was a challenge, “but we have always dared to dream big. In the last 12 months.”
According to them, the company has also organised free training sessions on real estate sales and market trends, benefiting over 500 youths, all of whom received certificates upon completion; hosted webinars featuring top real estate professionals; empowered university students by helping them become landowners while still pursuing their education; launched a housing project in Lagos State; increased client base by over 45%.
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