Property owners, financial institutions, and other key stakeholders have formed a coalition to drive the regeneration of the Lagos Island Central Business District, with a focus on Marina and Broad Street.
The coalition, known as the Marina-Broad Street Renaissance Group (MBRG), held its inaugural meeting on Tuesday, October 21, 2025, at the Wemabod Training Institute, Floor 3, Western House, Broad Street, Lagos.
Convened by Wemabod Limited, the meeting brought together representatives from major banks, public institutions, and real estate firms to deliberate on the future of Lagos Island’s commercial corridor, long regarded as the city’s economic heartbeat.
According to the organisers, the initiative seeks to promote infrastructure renewal, improve security, enhance sustainability, and preserve the district’s historical character.
The group also aims to reposition the area as a world-class work-live-play destination.
The MBRG will operate through a structured governance system comprising a General Assembly, Board of Trustees, Executive Committee, and specialised sub-committees.
Membership is open to corporate and institutional stakeholders, including property owners, schools, religious organisations, and non-governmental bodies.
At the meeting, participants unanimously adopted the group’s name and agreed to set up two interim committees on membership engagement and governance development.
Volunteers are expected to join the committees within one week of the communiqué’s release.
Speaking at the event, the Managing Director/Chief Executive Officer of Wemabod Limited, Mr Bashir Oladunni, stressed the need for collaboration in reviving the historic district.
“This is a movement to restore the district, unlock lasting value, and secure the future of Lagos’ premier CBD,” he said. “We invite all stakeholders to be part of this transformation.”
A formal communiqué and minutes of the meeting are expected to be shared with participants and other stakeholders in the coming days.
For enquiries or expressions of interest, Wemabod Limited can be reached at mbrg@wemabod.com
or on 0909 137 2078 / 0805 826 9225.
