Business
Oyegbola-Sodipo marks one year in office with launch of market credit scheme, project commissioning
The Executive Chairman of Abeokuta North Local Government, Hon. Lanre Oyegbola-Sodipo, has outlined a series of activities to commemorate his first anniversary in office, including the commissioning of landmark projects and the launch of a single-digit micro-credit scheme targeted at market women within the local government area.
Addressing journalists on Tuesday at the Council Secretariat, Akomoje, Abeokuta, Oyegbola-Sodipo noted that his administration has remained focused on empowering the informal sector, which he described as the backbone of the local economy.
According to him, the celebration will feature the commissioning of several people-oriented projects, among which are the Ita Oshin Shopping Mall and the Prince Dapo Abiodun Ultra Modern Shopping Complex at Lafenwa.
He further revealed that a 240-store Computer Village, powered by a mini solar grid to ensure uninterrupted power supply, is nearing completion and will soon be unveiled to boost digital and entrepreneurial activities within the area.
Speaking on the micro-credit scheme, the Council Chairman disclosed that no fewer than 1500 market women across Abeokuta North Local Government will benefit from the initiative, which offers loans at single-digit interest rates.
The scheme, he said, is designed to promote financial inclusion, stimulate local enterprise, and improve the livelihoods of small business owners.
Oyegbola-Sodipo reaffirmed his administration’s commitment to sustainable grassroots development, emphasizing that every project and initiative under his leadership is geared towards improving the welfare of the people and enhancing the economic strength of the council area.
Oyegbola-Sodipo also announced plans to train 100 young people in various enterprise areas such as soap making, Adire production, and paint manufacturing.
He explained that beyond the training, his administration is committed to sustaining the impact by patronizing the products of the trainees, citing examples like Adire fabrics and Ogo Paints, both of which have already gained recognition within and outside the council area.
He further revealed the establishment of the Ogo Multipurpose Venture, an initiative designed to promote skill acquisition.
He said the pilot phase of the skill acquisition programme has produced scores of adire producer and paint makers who have also been engaged by the local government.
As part of the anniversary activities, the council boss is expected to pay courtesy calls to traditional rulers in the local government, including the Agura of Gbagura, Olowu of Owu, Osile of Oke Ona Egba, and Omala of Imala, in recognition of their royal support and advisory roles in fostering peace and development.
Oyegbola appreciated the support of Governor Dapo Abiodun for creating a blueprint for infrastructural development, noting that the synergy between the state and local governments has been instrumental to the successful implementation of various developmental projects within Abeokuta North.
The Ogun State Commissioner for Finance and Chief Economic Adviser to the Ogun State Government, Otunba OlaDapo AbdulRahman Okubadejo, has advocated for sustainable transfer to cleaner energy to maintain global economic stability
Otunba Okubadejo made the call at the 2026 Commonwealth Trade and Investment Summit (CTIS), held at the Mansion House, London, United Kingdom.
The Finance Commissioner who attended the Summit, and took part in a session with the topic, “Pressing Global Challenge of Balancing Energy Security and Decarbonisation,” argued that transition to cleaner energy must be managed carefully to ensure that economic stability is maintained throughout the process
He opined that it was necessary to harmonize immediate energy needs with long-term environmental stewardship, highlighting the delicate equilibrium required to achieve sustainable climate goals without compromising the energy reliability essential for industrial growth.
The Economic Adviser underscored the importance of innovative policy frameworks in navigating the complex global transition.
He reiterated Ogun State’s unwavering commitment to sustainable development through proactive approach to green initiatives, adding that the administration of governor Dapo Abiodun is working towards positioning the State as a hub for investment while also expanding towards the Commonwealth.
Otunba Okubadejo also informed of the the state’s broader economic strategy, which seeks to integrate environmental consciousness into its industrial expansion.
The Finance Commissioner concluded that fostering a green economy is not just an environmental mandate, but a viable pathway for resilient economic growth.
Abuja’s property market has kicked off 2026 with explosive momentum, delivering its strongest first-quarter performance on record and signaling renewed investor confidence despite rising economic pressures.
In a landmark surge, March 2026 alone recorded 9,465 residential transactions—an astonishing 83.4% increase compared to the same period last year. This sharp rise helped push total first-quarter transactions to an all-time high of 29,009 deals, cementing Abuja’s position as one of Africa’s fastest-growing real estate hubs.
Industry data reveals a broad-based expansion across segments. Off-plan sales soared by 94.6%, while secondary market transactions jumped 76.1%, highlighting strong appetite from both new buyers and existing property investors.
Despite escalating financing costs and tighter payment structures, market activity has shown remarkable resilience.
Kúnlé Ìlòrí-Diamond, investment banker and real estate expert, noted that the anticipated slowdown has yet to materialize.
“The total number of transactions in March reached 9,465, up significantly from 5,598 in February. This marks the strongest first quarter ever recorded in Abuja’s residential market. While property prices and rents continue to rise, we are beginning to see a moderation in growth rates, particularly within the duplex segment” he said.
Strong Rental Returns Drive Investor Interest
Abuja’s rental market is also experiencing a powerful upswing, offering increasingly attractive returns to investors.
Following a relatively quiet third quarter, average apartment rents surged by 14% in Q4
2025—the highest quarterly increase since 2017. Analysts attribute this growth to Abuja’s expanding reputation as a business and lifestyle destination, coupled with relatively competitive property pricing and improved housing options.
Notably, high returns are no longer confined to traditional premium locations. Emerging districts such as Kyami, Kuje, Karsana, and Appo-Wasa are rapidly gaining traction, providing investors with new opportunities beyond the city’s core.
Prices Climb, Duplex Segment Leads Growth
Price growth has remained robust across property types. According to market research, average property prices rose by 11.3% year-on-year as of March 2026.
Apartment prices increased by 20% while duplex prices surged by 32%, maintaining their dominance in the market
Average prices now stand at approximately ₦11,118 per square foot for apartments and ₦11,267 per square foot for duplexes.
Premium districts continue to command top rates. Abuja City Centre leads the apartment market with an average of ₦22,021 per square foot, while Maitama and Katampe Extension (Usuma) dominate the off-plan segment at ₦22,910 per square foot.
As of March 2026:
Average apartment rent stood at ₦80,000 while average duplex rent reached ₦238,441
Prime rental locations such as Jahi, Gwarimpa, Wuse, Guzape, and Apo Legislative Quarters recorded some of the highest apartment rents, while Maitama maintained its position at the top of the luxury rental market with average asking rents nearing ₦801,940.
Outlook: Momentum Expected to Continue
According to Diamond Ilori, CEO of Jacob & Co Developments, the record-breaking first quarter sets a strong tone for the rest of the year.
“After a challenging period, apartment prices have returned to double-digit growth, while duplexes continue to lead with over 20% price appreciation. The market is expected to sustain this momentum, especially as it attracts increased interest from foreign investors, particularly in the luxury housing segment.”
With rising demand, expanding suburban opportunities, and sustained investor confidence,
Abuja’s real estate market appears poised for one of its most dynamic years yet.
#AbujaRealEstate #PropertyMarket #Investment #NigeriaBusiness #RealEstateNews
Residents of Ogun State now have direct access to premium home transformations as Dulux, the global authority in luxury paints, officially launches its latest outlet at the Vista Mall on Akarigbo Road, Sagamu.
This new presence brings the brand’s hallmark of durability and high-definition color closer to local homeowners and professional developers.
Over the years, Dulux has built its reputation on superior coverage and specialized performance.
The Sagamu store features their most sought-after lines, including:
- Wash&Wear: A scrubbable, stain-resistant interior finish perfect for high-traffic areas.
- Weathershield: Advanced exterior protection designed to withstand harsh elements.
- Aquanamel: A water-based enamel specifically for trim and accents.
- Specialty Solutions: Tailored products for high-moisture environments like kitchens and bathrooms.
Beyond aesthetics, Dulux continues to lead in environmental responsibility, with products engineered with low-emission and low-VOC (Volatile Organic Compounds) technology, ensuring that a beautiful finish doesn’t come at the cost of air quality or safety.
Dulux Paints offers aesthetics and protection for concrete, metal, and wood with curated palettes ranging from earthy neutrals to vibrant, trendy tones built to provide a hard-wearing finish that lasts for years.
For personalized consultations or to place an order, the Sagamu team can be reached at 08062199201 or 08062257639.
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