In a bold move to further accelerate the rollout of its landmark smart city development, Metrospeed Property Development Limited, a foremost Nigerian real estate firm, has signed a partnership deal with Geoplex Drillteq Limited, an indigenous oil and gas servicing company.
According to a statement, the contract signing ceremony was held at Geoplex’s corporate headquarters on Victoria Island on Tuesday, and marks another milestone for Metrospeed in its mission to redefine estate living in Nigeria.
“We are excited about this strategic partnership with Geoplex,” said Dele Oyefuga, CEO of Metrospeed Group, who affirmed that the partnership would ensure the speedy delivery of Metrospeed’s smart city project. “We are building an estate that will speak to you. An estate, where you can walk freely in the middle of the night to do whatever you want to do, knowing fully well that you’re secured in the environment,” he said.
The Metro Smart City project, a state-of-the-art, 97-hectare residential estate integrated with smart technologies, the statement said, is located in one of Lagos’ most coveted corridors. Oyefuga noted that the development will be completed in phases, with Phase 1 set for delivery by the end of 2025 and full project completion anticipated by late 2026, ahead of initial projections.
This latest partnership follows recent collaborations with ExxonMobil, Chevron, and Huawei.
“We under-promise so that we can over-deliver,” Oyefuga added. “We’ve given our partners a 2027 timeline, but we are far ahead of schedule.”
Representing Geoplex, Engr. Wole Ogunsanya, CEO of Geoplex Drillteq, described the collaboration as “timely and strategic,” emphasising that the decision to work with Metrospeed stemmed from shared values of trust, professionalism, and a commitment to employee welfare, he said in the statement.
“MetroSpeed stood out among the many options we considered,” said Ogunsanya. “This relationship is built on trust and professionalism. The Metro Smart City offers high-quality infrastructure and amenities—an ideal environment for our people. When our employees are secure and their welfare is prioritised, they are empowered to deliver their best.”
He added that the initiative aligns with Geoplex’s long-standing vision of real estate empowerment through an internal cooperative system, helping address Nigeria’s housing deficit while investing in their employees’ futures.
“We’re very bold and aggressive about this project,” Ogunsanya affirmed. “It is aligned with our long-term goals of building wealth for our team through smart real estate investment.”
Emike Ntiokiet, Head of Sales & Marketing at Metrospeed, highlighted the broader implications of the deal, calling it “the beginning of greater things” for both companies.
“This partnership is not just a transaction; it’s the realisation of our vision for a commercial smart city,” she said. “Geoplex is one of our latest partners, and the potential is enormous.”
She assured stakeholders that investment in the Metro Smart City guarantees high returns.
“What we are offering is the future of smarter urban living, right in the heart of Lekki Phase One. It’s a competitive, prime location—and we are proud to deliver excellence.”
Also present at the contract signing ceremony were the Geoplex Group Finance Director, Ola Sanni; the Supply Chain Manager, Shola Jegede; as well as the Head Legal at Metrospeed Group, Mirabel Monye and Ireti Oyefuga.
As Nigeria continues to tackle urban housing challenges, the Metrospeed-Geoplex partnership signals a future-focused approach to real estate, driven by innovation, safety, and people-first policies.
