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General News

Lamudi.com Whitepaper Reveals Nigeria’s Real Estate Key Influencers

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(L-r): Obi Ejimofo, managing director of Lamudi (Nigeria), Godwin Alenkhe, chairman, Lagos State Chapter and Sunday Paul, zonal chairman, Akoka, both from ERCAAN at the one anniversary of Lamudi Nigeria held in Lagos.
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Lamudi.com is a global property portal focusing exclusively on the emerging markets with presence in Nigeria, has released a whitepaper on the state of Nigeria’s real estate and general housing climate.

In the whitepaper, Lamudi revealed that the trends that have influenced the increase in real estate investment in Nigeria over the past five years to include, economic development (71%), infrastructural development (62%), standard of living (57%), migration, both inward and outward (38%) and average population age (38%).

Substantiating the report, a National Bureau of Statistics (NBS) data shows that the real estate sector now contributes up to 15% of the recently debased gross domestic product, “as investing in building is considered to provide a significant multiplier effect on the broader economy as it contributes to GDP through two main drivers, namely, private residential investments and consumption spending on housing services.

The report contains that the growth recorded in the overall Nigerian real estate sector on a year-on-year basis stood at 11% in 2012, which was demonstrative of a recovery in the sector and following significant falls influenced by the global downturn in 2009/10.

According to a report by Agusto & Co., a leading pan African credit rating and research agency, activity in Lagos State accounts for at least 40% of the total Nigerian real estate market.

Also, Ernst & Young (EY) report on Foreign Direct Investment (FDI) in Nigeria, has been growing at an annual rate of 23.4% over the last six years; while the country’s economic outlook has previously dependent on oil & gas, the non-oil sector has witnessed strong growth across agriculture, telecommunications and retail services.

On technology trends in house-hunting, Obi Ejimofo, managing director of Lamudi (Nigeria) told Nigeria CommunicationsWeek at one year anniversary of the Platform in Nigeria, that its (Lamudi’s) analytics shows, 30.5% of house-hunters searched for properties using a mobile device between May and October 2014; 43.26% of these visitors to the website used tablets to carry out the search, with 56.74% using other mobile devices.

Obi added that, however, there is still room for growth as 33% of real estate agents believe the internet is often used for house-hunting, and all respondents believe this will increase over the next decade.

He said, “Whilst traditional house-hunting methods remain popular in Nigeria, local real estate companies are also adapting to the changes in how people are using the web. According to Lamudi survey 81% of real estate agents believe that the most popular method for house-hunting remains the using a real estate agent.

“However, just under half believe that online listings are the favoured method with 67% of those asked revealing that they advertise their properties online”.

Nodding in agreement, Oyewale Adekunle, managing director of Ajibex and Company, said that, “social media is improving the growth of real estate, as all properties can now be listed and promoted online, to reach people both within and outside Nigeria”.

On his part, Udo Okonjo, chief executive officer, Fine & Country West Africa, stated that the advent of the internet and social media has boosted the avenues through which real estate agents can interact with clients, enabling more effective and efficient communication with those whose lifestyle are suited for such platforms.

Mr Sina Ganiu, senior partner & chief executive officer, Jide Taiwo & Co Estate Surveyors & Valuers, expressed delight with the Lamudi’s real estate revolutionary site.

Meanwhile, Lamudi with over 6000 real estate agents as partners, serving 32 million app users and 70, 000 per week visitors to the site, also revealed that 66% of people searching for properties within Nigeria, actually reside in the country.

The Lamudi Real Estate White paper was also launched globally in Asia, the Middle East, Latin America and other parts of Africa.

Allie Morse, CEO, Lamudi West and Central Africa said. “In its first year, Lamudi has cemented itself as a global leader in real estate, and we are honoured to welcome the best of Nigerian real estate to celebrate the launch of the white paper alongside our colleagues around the world.

“We want to ensure that our knowledge on the future of real estate in the emerging markets one that educates not just our clients but current and future customers too.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

General News

OpenAI Sues Elon Musk Claiming Bad-Faith Tactics

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OpenAI is suing Elon Musk over claims he has tried nonstop to slow down its business for his own benefit.

OpenAI Sues Elon Musk Claiming Bad-Faith Tactics

Elon Musk

The company accuses the Tesla boss of using “bad-faith tactics” against OpenAI to help him control cutting-edge AI technology.

Musk sued OpenAI chief executive Sam Altman last year in a bid to stop him from changing its corporate structure. Mr Musk co-founded OpenAI with Mr Altman but left several years ago.

Meanwhile reporters has approached his lawyer for a response to OpenAI’s lawsuit, which was filed on Wednesday.

The countersuit opens up a new front in the high-stakes battle between two Silicon Valley heavyweights.

“Elon’s nonstop actions against us are just bad-faith tactics to slow down OpenAI and seize control of the leading AI innovations for his personal benefit,” “Today, we countersued to stop him.”

Last week, a federal judge in Oakland, California, set a March 2026 trial date in Mr Musk’s suit in a bid to fast-track the legal fight.

US District Judge Yvonne Gonzalez Rogers previously declined to grant Mr Musk an injunction that would temporarily halt OpenAI’s conversion from a non-profit to a for-profit company.

She also said that she expected Mr Musk to give evidence in the case.

Musk alleges that OpenAI strayed from its founding mission as a non-profit to develop AI for the benefit of humanity and is therefore in breach of contract.

He left the company in 2018.

“This is about control. This is about revenue. It’s basically about one person saying, ‘I want control of that startup’,” said Ari Lightman, professor of digital media and marketing at Carnegie Mellon University.

Lightman said it has been a distraction from making AI safe and equitable.

“That takes a backseat with all this rigmarole over control and monetization,” Lightman said.

OpenAI claims Musk has “been spreading false information about us,” in a X post on Wednesday, adding “Elon’s never been about the mission. He’s always been about his own agenda.”

Musk’s xAI is a competitor to OpenAI, but has so far lagged behind. Last month, xAI aquiired Musk’s social media platform X formerly Twitter.

Musk claims the combined company, XAI Holdings, is valued at more than $100 billion.

In February, Musk made an unsolicited bid for OpenAI, offering to buy it for $97.4 billion, which Mr Altman rejected by posting: “no thank you but we will buy twitter for $9.74 billion if you want.”


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FG Unveils e-Visa, Digital Entry Cards to Strengthen Border Security

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In a major step toward strengthening border security and modernising travel protocols, the Federal Government has announced the introduction of automated landing and exit cards as part of its wider e-Visa solution. The new system, set to take effect on May 1, 2025, aims to eliminate travel bottlenecks while enhancing national security.

The initiative was unveiled during a joint press briefing held in Abuja on Wednesday by the Minister of Aviation and Aerospace Development, Festus Keyamo and the Minister of Interior, Dr. Olubunmi Tunji-Ojo.

The ministers emphasised that the project is a collaborative effort involving key agencies, including the Nigeria Immigration Service (NIS), the Federal Airports Authority of Nigeria (FAAN), and the Nigeria Civil Aviation Authority (NCAA), all of which will play a critical role in the rollout of the e-Visa and the new digital travel documentation.

“What we are doing here today is a further testament to the determination of this government to foster cooperation between key ministries that have mandates that overlap,” Keyamo stated. “Today is another example of that kind of cooperation and collaboration, and this has to do with the introduction of the e-Visa.”

Speaking on the importance of the new initiative, Minister Tunji-Ojo highlighted its significance to Nigeria’s security framework.

“This initiative has a very serious effect on our national security architecture. Prior to now, we have always had the exit and landing card in a manual way — travellers had to fill a paper form. But now the narrative has changed with the introduction of the e-Visa and automated exit and entry cards,” he said.

He explained that the process will now be completed digitally before boarding, with travellers required to fill out the landing and exit cards online and present them to airlines before being allowed to board.

“Nigeria is a country of 230 million brilliant people and we have to lead in terms of technology. In view of that, we are automating the visa process. The responsibility of coordinating and issuing regulations to the airlines lies with the NCAA,” Tunji-Ojo added.

“This shows our commitment to the protection of our country, to border security, and to ensure that our sovereignty as a nation is well respected.”

The interior minister further noted that the e-Visa system is designed not only to strengthen border controls but also to simplify entry processes for visitors.

“The e-Visa will make it easier for people to come into Nigeria while enhancing the security of our country,” he said.

 


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Leo Stan Ekeh Advocates for “Last Mile Takeover” at KongaFM Event, Pushes for Deeper Brand-Consumer Connections

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At a recent industry gathering hosted by Nigeria’s pioneering Hit Music & Commerce Station, Konga 103.7FM, renowned tech entrepreneur and Chairman of Zinox Group, Dr. Leo Stan Ekeh, delivered a compelling case for revolutionizing how brands connect with consumers in today’s hyper-competitive market.

Dr. Ekeh positioned what he termed the “Last Mile Takeover” as the critical differentiator for business success in Nigeria’s evolving commercial landscape.

The event, themed “Consumer Last Mile Takeover – The New Key”, brought together entrepreneurs, marketing executives and brand managers from leading corporations to explore innovative approaches to consumer engagement. Ekeh, renowned for his transformative ventures in Africa’s digital space, emphasized that the final point of contact between brands and consumers represents the most valuable real estate in modern commerce.

In his address, Leo Stan charged entrepreneurs who are serious about growth to focus on that last engagement point, as the critical pivot. According to him, that is “where trust is built, loyalty is secured, and value is delivered.”

Dr. Ekeh believes that the media is the strongest link between brand and consumers, and his vision for deeper, more meaningful brand-consumer relationships is what gave birth to KongaFM. Konga 103.7FM is the latest addition to the Konga Group driven by cutting-edge technology and artificial intelligence.

Earlier in her welcome address, Ifeoma Ajumobi, Head of KongaFM, detailing the station’s unique architecture as a robust platform designed with robust support frameworks for brands and businesses, while delivering premium entertainment.

Since its launch in January 2025, the station has experienced remarkable growth, steadily expanding its fanbase and establishing itself as a powerful medium for consumer engagement.

The initiative garnered significant praise from brand representatives across various sectors, including those from Samsung, Nivea, Checkers Custard, Kenya Airways, Emzor Pharmaceuticals, Xiaomi, and LG, who frequently referred to KongaFM as a game-changing platform. Their positive feedback underscored the station’s emerging role as a critical tool for brand communication, particularly in terms of boosting FMCG visibility and fostering direct connections with consumers.

Peggy Abengowe, Marketing Manager, Checkers Custard Africa, applauded the station’s impact on distribution and visibility, while Oge Maduagwu of Samsung Electronics West Africa praised its innovative blend of commerce and technology. Rachael Okeke, Marketing Executive, Emzor Pharmaceuticals, in her words, described the establishment of KongaFM as a “win-win for brands and consumers”.

The event concluded with a unified call to action for businesses to leverage the unique opportunities offered by KongaFM, with Leo Stan reinforcing the importance of boldness in business.

Konga 103.7 FM is Nigeria’s first hit music and commerce radio station, designed to connect brands with consumers through music, storytelling, and targeted promotions. A brainchild of the Zinox Group and Konga, KongaFM is redefining the role of radio in Nigeria’s digital commerce era.

Businesses interested in exploring partnership opportunities with KongaFM can connect via the station’s social media handles @Konga103.7FM or stream live programming 24/7 through its official website for a firsthand experience of this innovative platform.


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