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Odu’a Investment Begins Redevelopment of Obafemi Awolowo House into Tech Mall

Fola Badmus2 months ago2 months ago04 mins

Lagos, Nigeria – Odu’a Investment Company Limited (OICL) has announced the redevelopment of the iconic Obafemi Awolowo House in Ikeja, Lagos, into a state-of-the-art Awolowo Technology Mall, a move aimed at preserving its heritage while driving digital innovation and economic growth. The groundbreaking ceremony took place on Wednesday at the project site in Ikeja. Speaking at the event, Otunba Bimbo Ashiru, Group Chairman of Odu’a Investment, described the project as a “bold step in the strategic evolution of the Odu’a Group,” emphasizing that it aligns with the company’s transformation agenda and commitment to unlocking value from legacy assets. “This redevelopment is a clear statement of our resolve to preserve our heritage while positioning our assets for relevance in today’s and tomorrow’s marketplace,” Ashiru said. The Awolowo Tech Mall is expected to serve as a hub for technology firms, startups, and service providers, providing a launchpad for youth innovation, business incubation, and tech-driven enterprises. According to OICL, the project reflects a shift from passive asset management to proactive, value-driven real estate investment, under its subsidiary Wemabod Limited, in partnership with El-Salem Nigeria Limited. Doubling Capacity and Embracing SustainabilityThe Managing Director of OICL, Yinusa Abdurahman, noted that the new facility will more than double the commercial space from 4,800 sqm to approximately 9,000 sqm. He added that the project is designed as a “smart, sustainable facility” and will play a critical role in Lagos’ economic development and digital transformation. “The Awolowo Tech Mall will not just be a mall; it will be a dynamic commercial ecosystem, an innovation hub positioned to power creativity and business growth across Nigeria and West Africa,” said Ben Gbade Ojo, Chairman of El-Salem Nigeria Limited, the construction partner for the project. Heritage Meets the FutureOriginally designed in 1978 by Towry Coker Associates, Obafemi Awolowo House was once a symbol of modern architecture in Nigeria. Odu’a says the redevelopment will retain its legacy while adapting to the needs of a fast-evolving digital economy. OICL also announced an upgrade in its corporate credit rating to AA- by Agusto & Co, reflecting strong financial performance and governance. The Awolowo Tech Mall, strategically located along Obafemi Awolowo Way near Computer Village in Ikeja, is envisioned to become a magnet for commerce, technology, and entrepreneurship in Lagos and beyond.

Anthony Joshua Planning ‘Serious Investment’ in EFL Club

Fola Badmus4 months ago4 months ago04 mins

Anthony Joshua is currently in talks over a potential investment into one EFL Championship club. Joshua has forged huge earnings from his career in heavyweight boxing and is reported to have a net worth of around $83 million. The 35-year-old has been making investments with his boxing fortune, including purchasing property in the London area. And now, headlines materialised that Joshua could be looking to purchase a share in a club he knows well. The Watford-born and bred boxer is looking to invest in the club, further cementing his hero status in his hometown. He told Seconds Out: “We wanted to move into private equity, venture capital funds. “As you earn, naturally you want to save, so rather than me spending recklessly I’m trying to invest money into certain asset classes and that was an opportunity that presented itself. “Nothing’s come of it yet. It’s a serious investment. If it comes off it’s one that should do well. “If they went back to the Premier League then I’d need to get a shop on Market Street because the traffic that would be coming through Watford would be phenomenal. “I remember being on Market Street and watching the football fans. “I’m not a massive football fan myself but watching the fans steamroll Market Street and steamroll Vicarage Road were real good scenes. “If we don’t do it then good luck to them anyway because they’re a great team.” The Hornets finished 14th in the Championship, securing their place in the division comfortably for another year. Since their Premier League relegation at the end of the 2021-2022 season, Watford have spent three seasons in the Championship without securing a return. In the 2022-2023 season, they finished mid-table in 11th place, with Joao Pedro as their leading scorer. The following 2023-2024 campaign saw them drop slightly to 15th, with managerial changes not helping a period of instability at the club. The current 2024-2025 season concluded with them in 14th, with Vakoun Bayo leading their scoring. While they’ve shown some attacking capability, consistent results have eluded them, and they haven’t been in contention for promotion in any of these seasons. Given their lack of Championship play-off action yet again, Watford have since parted ways with manager Tom Cleverley. Joshua’s investment would likely help try to restore the club’s chances of pushing for a place back with the country’s elite.

FG launches N250bn Real Investment Fund

Fola Badmus9 months ago9 months ago01 mins

As part of efforts to increase housing opportunities for all Nigerians, the Federal Government has launched a N250 billion Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund (MREIF). According to a statement released by the Ministry of Finance on its X page, the government said the initiative was designed to provide low-cost, long-term mortgage financing and stimulate economic growth through the housing and construction sectors. Presiding over the signing ceremony, the Honourable Minister of Finance, Mr. Wale Edun, emphasised that the initiative addresses Nigeria’s housing finance gap by offering mortgages with repayment terms of up to 25 years. This contrasts sharply with the high-interest, short-tenor loans currently offered by commercial banks. The initiative would enable Nigerians to build generational wealth through sustainable homeownership.