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Sijibomi Ogundele (Sujimoto): The Amazing Story of the Agege Boy That Built a $400m Company

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Sijibomi Ogundele Sujimoto

Dressed in a simple Polo T-Shirt on a Friday evening, Sijibomi Ogundele, Nigeria’s youngest billionaire and luxury real estate czar, can be seen on the Lucrezia project site, in the prestigious Banana Island neighbourhood, inspecting the work done and ensuring every ‘i’ is dotted and every ‘t’ is crossed.

No one would have thought that this man, who is currently worth billions, was once a souvenir hawker in France and also did alabaru for his trader mum in Africa’s most populous market, Oke-Arin, where he was nurtured by enterprising Igbo traders, which ignited his passion for business.

Growing up in the slum of Agege as a little 8-year-old, Sijibomi’s first introduction to entrepreneurship was when he started a bike business popularly called okada business from his little savings.

Despite the usual African parent’s disapproval, he drew inspiration from his mother’s entrepreneurial spirit and grew his motorcycle riding business from one to 6, a testament to his strong, resolute and resilient business mind.

A rose that grew from concrete, Mr Ogundele, who is only 39, has built his company, Sujimoto Group, in just 5 years, into a Luxury Construction behemoth, focused on building extraordinary edifices in premium neighbourhoods of Ikoyi and Banana Island.

With annual revenue of approximately $30 million and many other pending projects, Mr Ogundele believes the Sujimoto group is worth over $400 million.

His look may be modest but his ambition belies his modesty. After an encounter with the King of Dubai, who pushed his ambitious project, LorenzoBySujimoto, from 15 storey building to a 30-storey building, reminding him that, “To be second is to be last! If people in their 30’s are building 5000 units annually in Asia, 75 units shouldn’t scare you.”

According to Mr Ogundele, “I believe in Nigeria. My passion comes from my patriotism. I believe that the Nigeria that produced the MKOs, the Dantatas, and the Ojukwus, also has something great in store for me.”

The lawyer tuned entrepreneur, who is son to a John Holt Manager and a trader mother, never had the opportunity to attend King’s College or other expensive private schools but attended public schools.

With a dream to revolutionize the Nigerian luxury real estate space and an ambition taller than the Burj Khalifa, one can only wonder how he has steered his company to survive the brutal economic recessions within the last 5 years, growing stronger, bigger and better, to the consternation of the pessimists.

Sujimoto’s Giuliano project which is 100 per cent covered in travertine stone, fully automated, first project with each unit having its private elevator and an award-winning Zaha Hadid Bathroom for Porscelanosa, set the standard for a luxury terrace in Banana Island, attracting clients like MD of multinationals, billionaires and music entrepreneur, Davido.

A stone throws from the Giuliano; Sujimoto is building what has been dubbed the tallest residential building in Banana Island, the LucreziaBySujimoto.

A revolutionary building, never before seen in Nigeria or Africa! The first building with Glass Reinforced Concrete (GRC) façade, Full Home Automation, private IMAX Cinema for the residents, standard crèche, Indoor Virtual Golf with over 2,500 courses worldwide to play on, swimming pool in the sky and other exciting features. Sitting on the 12th floor is the best penthouse in Africa; a project that sets an enviable standard for luxury residential apartments in Nigeria with a sales value worth $46 and a delivery deadline of December 2021.

Speaking on the Lucrezia, Mr Ogundele made a startling revelation; “We are building the best condominium not only in Nigeria but also in Africa. The Lucrezia Penthouse comes with a private elevator, private cinema, private golf, private gym, and a private pool!

“The Lucrezia is very special to us because Sujimoto is divesting from residential projects with 80 per cent of our real estate interest into commercial projects.”

When asked about the company’s plan to accommodate smaller units, Mr Ogundele was very quick to add that the company has a new project that is almost sold out!

According to him, “Many people have approached us about building smaller and more affordable units with the Sujimoto standard and we have responded with a revolutionary project called the LeonardoBySujimoto.

“With LeonardoBySujimoto, you can own a Sujimoto apartment without breaking the bank. We have studied the best apartments and what we are creating, beats the best.

“The affordable luxury project – Leonardo, comes in 2, 3, and 4 bedroom units and it is a great investment offer as the 3 bedrooms which are currently selling for N250 million will go for N450 million once the project is launched later in the year.”

According to Mr Ogundele, the present pricing still beats the best apartments in Bourdillon and Eko Atlantic. He also noted that the current price offer will expire by the end of the month.

He said “the same passion with which we redefined luxury living in Nigeria, is the same passion we are bringing into the Nigerian hospitality and commercial space.

“We have toured some of the best hotels in the world such as the Address Hotel, Downtown Dubai, the Baccarat Hotel in New York City, and the Dorchester Hotel in London.

“Sujimoto is building the S-Hotel, African hospitality with a four season services. We are building a hotel that is customer addictive, where putting the customer first becomes our priority, from janitor to general managers.”

“Three fundamental qualities separate the S Hotel from others: Design, Price, and Service. The plan is to get rid of mediocre experience in the hospitality industry, building one luxury hotel at a time.

“The focus, therefore, is to build one luxury hotel in the state capital city of every African country, starting from the six geopolitical zones of Nigeria.

“The plan is before 2030, we would have built over 100 luxury hotels with 16,000 rooms, worth $1.9 billion in the portfolio, a move which will bring the company’s overall worth to over $5 billion in 10 years,” he added.

In addition to the company’s expansion plan, Mr Ogundele made it known that Sujimoto is building a world-class plaza, first of its kind, in Ikoyi and Abuja, with a 2021 and 2022 projection for completion.

This 6-in-1 plaza by Sujimoto is a contemporary one-stop-shop retail and hospitality centre, featuring innovative state-of-the-art equipment, rooftop lounge, and bar, premium restaurants, world-class gym, retail shops other premium features.

Upon completion, each project should be valued at approximately N47 Billion, with a combined rental income of about N11 billion annually.

According to Mr Ogundele, “By 2030, we hope to have completed 61 different malls and plazas in Nigeria and across major African cities, a portfolio worth about $3 billion.”

Despite the huge effect of the COVID-19 on businesses and economies, where banks have put a halt to every construction project, Sujimoto just raised N3.5 billion for the Lucrezia which is sold out with just 2 units left!

According to Mr. Ogundele Sujimoto, “At Sujimoto, we do not see a recession because for us crises are opportunities disguised as problems!

“We have developed a highly viable and profitable strategy and found an opportunity for savvy investors to invest N5 billion into Sujimoto and get N10 billion back in 3 years.

“This is debt and not equity, and it is guaranteed. Treasury bills and other money market instruments will give you a 5 – 10 per cent ROI on your investment, but this is 100 per cent ROI and it is guaranteed!

“This investment is NOT for everyone, it is ONLY for the vital few, who can identify opportunities when they see one.

One of the reasons why Sujimoto can stand out and guarantee good price and quality is the strength of the company’s procurement capacity and global reach,” Mr Ogundele explained.

He stressed that “We don’t use third parties when it comes to projects; we speak directly to the manufacturers because we want to guarantee two fundamental things – prudent spending and assurance of quality. With offices in Dubai, Gwanzo, and New York City and numerous ambitious projects, one wonders what Sujimoto Group will be worth in 10 years to come.

According to Mr. Ogundele; “Our biggest motivation is our critics because, without them, we couldn’t have come this far. There’s nothing we have today, that we got on a platter of gold. We worked two times harder, 3 times more, just to prove that without a rich aunty or uncle, you can get to your destiny”.

Speaking on some of the challenges he has had to contend with in business, Mr. Ogundele recalled the event of 2016 and 2017 where he had conceived and developed the biggest project in Nigeria, over $90 million to build the tallest residential building in Sub-Saharan Africa – the LorenzoBySujimoto.

“After all the investment in time, money, and passion, the recession hit badly, and investors pulled out. The economy was so bad that I had to refund hundreds of millions to our off-takers. Amid the chaos, like the phoenix that rises from the ashes, the Giuliano project was born!

“A project of terrace houses in Africa’s richest neighbourhood – Banana Island. And 20 months after, the record-breaking Giuliano has metamorphosed from a proof-of-concept to a proof-of-product! fully sold-out six months before completion.”

Many have opined that the young and dynamic Motomatician might be eyeing a political position, but according to Mr. Ogundele, “the business of politics is bigger than the politics of business. We are focused on business but we shall support the government. To us, the government is like a beautiful woman, marry her only when she is an asset, not a liability.”

When asked if he was married, the single and eligible bachelor, who insisted he was married without a wife, claimed that his wife is young and very jealous, she’s Sujimoto.

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Championing Ethical Sourcing Within Dairy Communities

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Arla Nigeria

Human Rights Day often centres on themes of dignity, equity, and freedom. Yet for many Nigerians, these rights are not debated in courtrooms they are expressed in the ability to access nutritious food, build meaningful livelihoods, and secure a healthy future for their families. Nutrition, in this sense, becomes a fundamental human right.

Despite a growing population and rising nutrition needs, Nigeria faces a pressing dairy reality. The country remains heavily dependent on dairy imports, leaving nutritional access vulnerable and local capacity underdeveloped. This is not just an economic concern; it is a human one. When families cannot easily access affordable, high-quality dairy, the foundations of health and development are weakened.

It is within this context that Arla Nigeria operates not merely as a dairy company, but as a nutrition powerhouse committed to nourishing a nation. Our ambition extends beyond selling products. We are working to build the foundations of a stronger, more resilient local dairy sector that supports food security, economic participation, and national progress.

At the heart of our efforts is the Damau Integrated Dairy Farm in Kaduna Statea fully operational modern farm designed to demonstrate what responsible, efficient, and scalable dairy production can look like in Nigeria. Arla Nigeria produces its own milk on-site, ensuring quality, safety, and consistency as we continue building the systems required for a sustainable local value chain. In fact, until our yoghurt factory launches, the reverse is true: some stakeholders purchase milk from us.

But infrastructure alone is not the story. What truly matters is the human impact surrounding the farm.

Arla Nigeria has been intentional about engaging and empowering the communities around Damau. By creating employment opportunities for local residents, providing skills development, and contributing to community growth, we are ensuring that the benefits of dairy development extend beyond production lines. This is development rooted in people where progress is measured in livelihoods improved and opportunities created.

As Arla Nigeria continues to expand operations, our long-term commitment remains clear: to contribute meaningfully to local milk sourcing and value chain development, strengthening Nigeria’s capacity to feed itself. Backward integration is not a slogan for Arla Foods; it is a structured pathway with building responsibly and sustainably. From farm systems to future household milk initiatives, the goal is to create a model that supports farmers, enhances productivity, and drives economic inclusion in the years ahead.

On Human Rights Day, the conversation often revolves around preventing harm avoiding exploitation, ensuring fair labour, and upholding ethical standards. These are essential, but they are only the beginning. True respect for human rights means creating enabling systems that allow people to thrive.

With Arla Foods, that begins with nutrition. Milk is a super food, rich in essential nutrients that support growth and development. Ensuring access to such nutrition contributes directly to national well-being and productivity. When we help secure a healthier population, we strengthen the foundation for education, economic participation, and long-term prosperity.

This is why Arla believes that dairy is not just food it is nutrition, livelihood, and progress. By investing in sustainable production, community development, and future local sourcing capabilities, Arla Nigeria is contributing to food security and economic growth in a tangible, measurable way.

Ultimately, ethical business is not defined by corporate language or labels. It is defined by the stability, nourishment, and dignity it brings to people’s lives. As Nigeria celebrates Human Rights Day, let us recognise that the right to nutrition and the opportunity to build a better future are among the most powerful rights we can help protect.

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In Praise of Nigeria’s Elite Memory Loss Clinic

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memory loss clinic Busayo Cole

By Busayo Cole

There’s an unacknowledged marvel in Nigeria, a national institution so revered and influential that its very mention invokes awe; and not a small dose of amnesia. I’m speaking, of course, about the glorious Memory Loss Clinic for the Elite, a facility where unsolved corruption cases go to receive a lifetime membership in our collective oblivion.

Take a walk down the memory lane of scandals past, and you’ll encounter a magical fog. Who remembers the details of the N2.5 billion pension fund scam? Anyone? No? Good. That’s exactly how the clinic works. Through a combination of political gymnastics, endless court adjournments, and public desensitisation, these cases are carefully wrapped in a blanket of vagueness. Brilliant, isn’t it?

The beauty of this clinic lies in its inclusivity. From the infamous Dasukigate, which popularised the phrase “arms deal” in Nigeria without actually arming anything, to the less publicised but equally mystifying NDDC palliative fund saga, the clinic accepts all cases with the same efficiency. Once enrolled, each scandal receives a standard treatment: strategic denial, temporary outrage, and finally, oblivion.

Not to be overlooked are the esteemed practitioners at this clinic: our very own politicians and public officials. Their commitment to forgetting is nothing short of Nobel-worthy. Have you noticed how effortlessly some officials transition from answering allegations one week to delivering keynote speeches on accountability the next? It’s an art form.

Then there’s the media, always ready to lend a hand. Investigative journalists dig up cases, splash them across headlines for a week or two, and then move on to the next crisis, leaving the current scandal to the skilled hands of the clinic’s erasure team. No one does closure better than us. Or rather, the lack thereof.

And let’s not forget the loyal citizens, the true heroes of this operation. We rant on social media, organise a protest or two, and then poof! Our collective short attention span is the lifeblood of the Memory Loss Clinic. Why insist on justice when you can unlook?

Take, for example, the Halliburton Scandal. In 2009, a Board of Inquiry was established under the leadership of Inspector-General of Police, Mike Okiro, to investigate allegations of a $182 million bribery scheme involving the American company Halliburton and some former Nigerian Heads of State. Despite Halliburton admitting to paying the bribes to secure a $6 billion contract for a natural gas plant, the case remains unresolved. The United States fined the companies involved, but in Nigeria, the victims of the corruption: ordinary citizens, received no compensation, and no one was brought to justice. The investigation, it seems, was yet another patient admitted to the clinic.

Or consider the Petroleum Trust Fund Probe, which unraveled in the late 1990s. Established during General Sani Abacha’s regime and managed by Major-General Muhammadu Buhari, the PTF’s operations were scrutinised when Chief Olusegun Obasanjo assumed office in 1999. The winding-down process uncovered allegations of mismanagement, dubious dealings, and a sudden, dramatic death of a key figure, Salihijo Ahmad, the head of the PTF’s sole management consultant. Despite the drama and the revelations, the case quietly faded into obscurity, leaving Nigerians with more questions than answers.

Then there is the colossal case of under-remittance of oil and gas royalties and taxes. The Federal Government, through the Special Presidential Investigatory Panel (SPIP), accused oil giants like Shell, Agip, and the NNPC of diverting billions of dollars meant for public coffers. Allegations ranged from falsified production figures to outright embezzlement. Despite detailed accusations and court proceedings, the cases were abandoned after the SPIP’s disbandment in 2019. As usual, the trail of accountability disappeared into thin air, leaving the funds unaccounted for and the public betrayed yet again.

Of course, this institution isn’t without its critics. Some stubborn Nigerians still insist on remembering. Creating spreadsheets, tracking cases, and daring to demand accountability. To these radicals, I say: why fight the tide? Embrace the convenience of selective amnesia. Life is easier when you don’t worry about where billions disappeared to or why someone’s cousin’s uncle’s housemaid’s driver has an oil block.

As World Anti-Corruption Day comes and goes, let us celebrate the true innovation of our time. While other nations are busy prosecuting offenders and recovering stolen funds, we have mastered the fine art of forgetting. Who needs convictions when you have a clinic this efficient? Oh, I almost forgot the anti-corruption day as I sent my draft to a correspondent very late. Don’t blame me, I am just a regular at the clinic.

So, here’s to Nigeria’s Memory Loss Clinic, a shining beacon of how to “move on” without actually moving forward. May it continue to thrive, because let’s face it: without it, what would we do with all these unsolved corruption cases? Demand justice? That’s asking a lot. Better to forget and focus on the next election season. Who knows? We might even re-elect a client of the clinic. Wouldn’t that be poetic?

Now, if you’ll excuse me, I have a new scandal to ignore.

Busayo Cole is a Branding and Communications Manager who transforms abstract corporate goals into actionable, sparkling messaging. It’s rumored that 90% of his strategic clarity is powered by triple-shot espresso, and the remaining 10% is sheer panic. He can be reached via busayo@busayocole.com. 

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How Nigerian Companies are Leading More Responsible Digital Transformation

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Kehinde Ogundare 2025

By Kehinde Ogundare

Artificial intelligence is everywhere–in polished social media posts, in the recommendations that guide our viewing habits, and in the bots that handle customer queries before a human agent steps in. On LinkedIn, AI-assisted writing has become standard practice.

A year ago, more than half of English long-form posts that went viral were estimated to have been written by or assisted by AI. If that’s the norm on the world’s biggest business network, it’s no surprise that AI is driving conversations in Nigerian boardrooms as companies move from experimentation to embedding AI into their daily operations.

Part of the package

The Nigeria Data Protection Act (NDPA), modelled on the European Union’s General Data Protection Regulation, together with the Nigeria Data Protection Commission, requires companies to build privacy into their systems from the outset rather than adding it later. This clear regulatory framework has evolved alongside a rapid rise in AI adoption.

New research from Zoho on responsible AI adoption highlights the impact of the regulations. As per the report, 93% of Nigerian companies have already started using AI in their daily operations; 84% have tightened their privacy controls after adoption, and 94% now have a dedicated privacy officer or team, which is well above global averages.

The survey, conducted by Arion Research LLC among 386 senior executives, shows just how deeply embedded AI has become in Nigeria. One in four companies already uses it across several departments, and nearly a third report advanced integration. Financial services firms are pioneers in this sector, using AI to automate client interactions, streamline operations and sharpen their marketing, while staying compliant with data protection rules.

The NDPA has helped make privacy part of business planning. Four in ten companies now spend more than 30% of their IT budgets on privacy. Regular audits, privacy impact assessments and explainability checks are becoming standard practice.

Skills, compliance and capacity

Rapid adoption brings challenges. More than a third of businesses say that their biggest obstacle is a lack of technical skills, and another 35% cite privacy and security risks. Instead of outsourcing, most are building capacity in-house: nearly 70% of companies are training staff in data analysis, more than half are improving general AI literacy, and 40% are investing in prompt engineering for generative tools.

The understanding of the NDPA regulation, which came into force in 2023, has also improved. 65% of organisations see compliance as essential. Many voluntarily apply data-minimisation and transparency standards even when not required to do so, aligning more closely with international norms and easing collaboration with global partners.

Privacy is increasingly influencing business decisions — from investment priorities to system design. Companies are asking tougher questions: is specific data essential? How can exposure be limited? How can fairness and transparency be proven?

Trusted systems

As privacy becomes part of how technology is built, companies are being more cautious about the tools they use because they now want systems that protect customer data, with clear boundaries between data and model training, straightforward controls, and reliable records for compliance teams.

Demand for business software that balances productivity with privacy is also growing. Zoho, among others, has seen strong customer growth as more organisations are looking for platforms that support responsible data handling.

The study identifies three main reasons behind AI adoption: to make work more efficient by automating routine tasks, to support better decision-making by identifying patterns sooner, and to improve customer engagement through faster, more relevant interactions. But none of this can succeed without trust. Nigeria’s experience shows that privacy and innovation can reinforce each other when they’re built together.

There’s still work to do because some industries are moving faster than others, and smaller businesses often face the biggest hurdles in time, cost and skills. Enforcement is also patchy; while the law is clear, application across sectors and geographies is a work in progress.

The next steps are more practical, requiring investment in skills – from data analysis and AI literacy to sector-specific training – and for governance to be put in place, with clear responsibilities, written policies, and a plan for managing errors or breaches. Privacy impact assessments should become part of every new system rollout, enabled by technology.

As AI becomes fundamental to doing business, Nigerian companies that build it carefully and responsibly will be better able to compete at home and abroad.

Kehinde Ogundare is the Country Head for Zoho Nigeria

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