Future Of Nigeria’s Real Estate Rests On Our Youths- Okonkwo
The Group Managing Director of NEDCOMOAKS, Dr. Ned Okonkwo has said that the future of Nigeria’s real estate and properties lies on the youths.
The GMD said this on Thursday at the ‘Unleash for Takeover 3.0’ programme held in Lagos.
The theme of the 2025 edition is: ‘NextGen Nation Builders: Youthful Impact, Limitless Possibilities. ‘
Okonkwo, who is a Nigerian real estate mogul, has created an empire that pioneered smart and renewable energy homes in line with low carbon emission.
Okonkwo, however, sees youths as catalysts who would power the country’s housing landscape amidst growing housing deficit.
The World Bank estimates Nigeria’s housing deficit at over 20 million units.
Development experts believe this is a significant issue with far-reaching consequences, including overcrowding, substandard living conditions, and high rental costs.
The World Bank projects that Nigeria needs to build approximately 700,000 housing units yeary for the next 20 years to bridge the gap.
During his keynote address, Okonkwo highlighted how NEDCOMOAKS, a conglomerate of several housing firms that he owns, is contributing to bridging the housing gap.
But the Anambra-born businessman believes that the future of housing and the real estate industry depends on the youth.
He argued that Nigerian youths need a platform that would unleash their potential in order to secure the country’s housing future.
He urged youths to “See this as an opportunity and a reawakening call. This reminds us that Nigeria’s real estate lies in its youths.
“In you is creativity. Your resilience, passion and brilliance bring endless possibilities.”
Okonkwo explained that his passion for youth was driven by his sufferings of his childhood.
“I’m not any different from you. The only difference is that I followed through and God blessed my hustle,” he said.
He encouraged youths to explore their potential and leverage real estate in order to contribute positively to the Nigerian economy.
Speaking during the first panel session themed, ‘Real Estate & the Power of Possibility: Building the Future Without Limits’, an investment expert and CEO Dawnhill Ltd, Ebiere Masodje, shared her journey as a woman in real estate, as a move to encourage women in the industry.
Masodje said she leverages integrity and works hard twice as the men.
“Being a woman, you have to show what you can offer. At some point, my account was red when I left Imperial Homes.
“I was able to sell credibility to my clients. I offered value, and they put aside the fact that I’m a woman. They invested their money with me,” she said.
Also, the Chief Executive Officer (CEO) of Cresco Homes and Properties, Obinna Uba , said mentorship has been a key part of his success story.
He advised youths to leverage the expertise of good mentors like Dr. Okonkwo.
Another panellist, the CEO of Propati Radar, Eddy Otomewo, encouraged youths to see real estate as an alternative for ‘japa’.
“I am a clear example of do not japa. The hustle was tough, but I travelled seeing my friends who left the country, and I realised I made the right decision.
“If you need a reason not to japa look at me. I leveraged on real estate. “
A serial entrepreneur and CEO, Rumis Altt, Olawale Folam,
narrated how he stumbled into real estate as an agent after attending job interviews for one year.
He encouraged youths to “have a vision and keep fighting. A lot of you are not consistent, and you just give up.
“Dr. Ned is rich, but he keeps working. You must have vision and work hard to make it in this country,” he said, adding that youths should save and invest.
Future Of Nigeria’s Real Estate Rests On Our Youths- Okonkwo is first published on The Whistler Newspaper
