Despite the macroeconomic challenge in Africa’s most populous country, opportunities still abound in the country’s real estate industry, especially from the market supply side.
Nola Adetola, CEO and founder of Veritasi Homes, made this known during the handover of keys to the subscribers of Camberwall Advantage 5, an estate located in Lagos, recently.
He said, despite economic uncertainty in the country, developers like Veritasi Homes are still delivering projects.
According to him, the return on investment and capital appreciation on properties are still attractive amid harsh macroeconomic realities.
He cited an example with the Camberwall Advantage 5 project, which his organisation commenced two years ago, and the value had appreciated 100% in 2025 even before handover to investors.
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“Real estate contributes more to the Gross Domestic Product than it is reported,” he said. “The volume of employment opportunities in the sector is high,” he added.
He noted that the sector would have been Nigeria’s main driver of growth if key issues such as lack of skilled artisans and high borrowing costs, among others, were adequately addressed.
Nola noted that the country’s high inflation rate and devaluation of the naira affected project completion while expressing worries over poor artisans in the country.
He said, “People lacked skills and how to use tools. Artisanship can’t produce large-scale or mass produce because of the lack of skill in most industries.
“We have to import materials and foreigners, who are being paid in foreign currency,” he said while explaining that Veritasi Homes was forced to employ the services of foreigners to address the skill gap issue in the industry.
“It was challenging, but we were able to macro-supervise to solve the challenges.”
Speaking on the newly handed over Camberwall Advantage 5 project, Nola said, the estate, a residential, comprises four bedrooms, an all-en-suite with boys’ quarters, and a study room.
According to him, amenities include a water supply, swimming pool, gym, club, playing area for children, elevators, parking bays, spa, and 24-hour power supply.
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He assured subscribers that the project offers massive investment opportunities based on the Return on Investment (RoI) and capital appreciation, as well as the quality of the housing units.
The chief executive noted that Veritasi Homes is redefining the country’s housing landscape by delivering value to its subscribers.
Nola attributed the company’s resilience amid Nigeria’s challenging business environment to hard work, team vibrancy, collaboration, and innovation.
Over the years, Veritasi Homes has emerged as a transformative force in addressing Nigeria’s housing deficit.
“As a firm, we have about 200 direct staff in Lagos and Abuja and a lot of indirect staff. Across our entire project, we have over 2,000 people,” he said.
