Personality in Focus
The Phenomenal Rise of Estate Giant, Sijibomi Ogundele (Sujimoto)
The story of Sijibomi Ogundele, better known as “Sujimoto” who is now one of the youngest billionaire in Nigeria is inspiring and a reference point for a youngman, who desires to conquer. It is worthy of note that as at today, Sijibomi sits atop over $400 million worth company.
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 neighborhood, 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 Okada business from 1 to 6 motorcycles, 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 neighborhoods 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% covered in travertine stone, fully automated, 1st 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% 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 N250million will go for N450million 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.
PricewaterhouseCoopers (PwC) Hotel Outlook for 2018-2022 has projected that the hospitality market in Nigeria will experience a compound annual increase in the next 5 years.
According to Ogundele, 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 1st 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.
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 center, 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 N11billion 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 $3billion.”
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% ROI on your investment but this is 100% 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 that “We don’t use 3rd 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 USD 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 neighborhood – 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 6-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.
The Lagos State Police Command, under the leadership of the Commissioner of Police, CP Olohundare Jimoh, has extended its heartfelt congratulations to Dr. Ayo Ogunsan on his well-deserved appointment as the Executive Secretary of the Lagos State Security Trust Fund (LSSTF).
In a statement signed by the Command’s Public Relations Officer, SP Abimbola Adebisi, and made available to the National Association of Online Security News Publishers (NAOSNP), the command noted that “Dr. Ogunsan’s appointment is a clear testimony to the unwavering trust and confidence that the Governor of Lagos State, Mr. Babajide Sanwo-Olu, has in him.”
Reminiscing Ogunsan’s trajectory in the world of administration and security, the statement stressed that “Over the years, Dr. Ogunsan has demonstrated exceptional selflessness and commitment to strengthening the security architecture of Lagos State.”
The Command further noted as follows:
“The Commissioner of Police is confident that Dr. Ogunsan, as a distinguished member of the LSSTF Board, will assume this new role with deep institutional knowledge, proven integrity, and unwavering dedication, coupled with a strategic understanding of the security needs of Lagos State. The Command has no doubt that he will deliver on his mandate successfully.
“Dr. Ogunsan’s continued valuable contributions to the LSSTF and his longstanding partnership with security agencies across the State have positioned him exceptionally well to steer the Fund towards greater operational efficiency, an outcome that will undoubtedly enhance public safety and security throughout Lagos State.
“The Lagos State Police Command once again warmly welcomes his appointment with deep optimism and hereby assures the new Executive Secretary of its unwavering partnership and cooperation. The Command is proud of him and immensely happy to be associated with him.
“The Lagos State Police Command looks forward to further strengthening the existing synergy, support, and operational collaboration with Dr. Ayo Ogunsan and the LSSTF team in ensuring the continued safety and protection of all residents and visitors in Lagos State.”
Prior to his appointment, Ogunsan was a Board Member of the Trust Fund.
The Chief of Army Staff (COAS), Lt. General Waidi Shaibu, has approved the appointment of some senior officers to top strategic command and positions, aimed to strengthen command structures and reposition the Nigerian Army for heightened operational effectiveness.
According to a statement by Army’s spokesperson, Lt.-Col. Apollonian Anele, on Thursday, the appointment cut across key command, staff and instructional positions across formations, units and training institutions of the Army.
Among the new appointees are: Major General Bamidele Alabi, who has been redeployed to Army Headquarters Department of Policy and Plans and appointed Chief of Policy and Plans (Army); Major General Jamal Abdulsalam, formerly Chief of Special Services and Programmes at Army Headquarters proceeds to Defence Headquarters Department of Operations as Chief of Defence Operations while Major General Peter Mala moves from Office of the National Security Adviser to Headquarters Training and Doctrine Command Nigerian Army (TRADOC) as Commander.
Major General Samson Jiya, from Nigerian Army Heritage and Future Centre (NAHFC) moves to Defence Headquarters Department of Defence Accounts and Budget as Chief of Defence Accounts and Budget.
Other strategic appointments include, Major General Mayirenso Saraso from NAHFC to Army Headquarters Department of Operations as Chief of Operations (Army); Major General Isa Abdullahi from Defence Headquarters to Army Headquarters Department of Administration as Chief of Administration (Army); Major General Musa Etsu-Ndagi from Army Headquarters to Department of Training to Army Headquarters Department of Civil-Military Affairs as Chief of Civil-Military Affairs. Major General Abubakar Haruna from NAHFC to Nigerian Army Training Centre (NATRAC) Kontagora as Commander and Major General Philip Ilodibia from Army Headquarters Department of Policy and Plans to Defence Space Administration as Chief of Defence Space Administration.
Others are: Major General Godwin Mutkut, from Multi-National Joint Task Force (MNJTF) N’Djamena to Headquarters Infantry Corps Centre as Corps Commander Infantry, Major General Umar Abubakar from the Ministry of Defence to Headquarters Nigerian Army Armour Corps as Commander Armour Corps, Major General John Adeyemo moves from Nigerian Army School of Artillery (NASA) to Headquarters Nigerian Army Corps of Artillery as Corps Commander Artillery and Major General Mohammed Abdullahi from Nigerian Army Cyberwarfare Command to Headquarters Nigerian Army Signals as Corps Commander Signals.
Also, Major General Taofik Sidick has been redeployed from the NAHFC to Headquarters Nigerian Army Finance Corps as Chief of Accounts and Budget (Army), Major General Abdullahi Ibrahim from NAHFC to Headquarters Nigerian Army Ordnance Corps as Corps Commander Ordnance, Major General Adeyinka Adereti from Defence Headquarters to Headquarters Nigerian Army Electrical and Mechanical Engineers as Corps Commander, Major General Nansak Shagaya from Army Headquarters Department of Operations to Headquarters Nigerian Army Corps of Supply and Transport as Corps Commander Supply and Transport while Brigadier General Yusha’u Ahmed has been appointed acting Corps Commander Education.
The COAS also approved the appointment of Major General Oluyemi Olatoye, from Headquarters 82 Division/ Joint Task Force South East Operation UDO KA to the Nigerian Defence Academy (NDA), Kaduna and appointed Commandant, Major General Emmanuel Mustapha from Defence Space Administration to Nigerian Army Signal School as Commandant, Major General Adamu Hassan from Nigerian Defence Section, Riyadh, to Nigerian Army School of Artillery as Commandant and Brigadier General John Bulus from Headquarters Nigerian Army Finance Corps to Nigerian Army School of Finance and Accounts as Commandant.
According to the statement, the senior officers appointed as field commanders includes, Major General Saidu Audu from Army Headquarters Department of Training to Multi-National Joint Task Force (MNJTF), N’Djamena, as Force Commander, Major General Warrah Idris from Defence Headquarters to Joint Task Force North West Operation FANSAN YAMMA as Commander and Major General Oluremi Fadairo from Army Headquarters Department of Civil Military Affairs to 82 Division Nigerian Army, Enugu as General Officer Commanding and Commander Joint Task Force South East Operation UDO KA.
Other appointees are Major General Olatokumbo Bello as the Director Defence Media Operations at Defence Headquarters while Brigadier General Samaila Uba was redeployed from the Armed Forces Command and Staff College Jaji to Defence Headquarters as Director Defence Information.
The CIAS charged the new appointees to bring to bear their wealth of operational experience, administrative acumen and strategic foresight in driving a disciplined and combat-ready Army to decisively confront the contemporary and emerging security challenges.
He urged them to sustain the current operational momentum, strengthen interagency collaboration and remain unwavering in upholding the Nigerian Army’s core ethos of loyalty, selfless service, integrity and excellence.
Former Director General of the National Council for Arts and Culture (NCAC) and the Nigerian Tourism Development Authority (NTDA), Otunba Segun Runsewe, has bagged the award of Pillar of Nigerian Culture and Tourism.
The award was conferred on him by the Association of Nigerian Journalists and Writers of Tourism (ANJET), the umbrella body for Nigerian travel press, on Thursday, October 23 at a colourful ceremony held at the prestigious Sheraton Lagos Hotel and Towers.
He was among some distinguished Nigerians from public and private sectors, including the former Nigerian Minister of Tourism and Culture, Ambassador Frank Ogbuewu, who were honoured for their contributions to the growth and development of Nigerian tourism.
Other distinguished Nigerians conferred with awards were: Otunba Wanle Akinboboye (Foremost National Tourism Builder and Creative Mind), Mr. Jemi Alade (National Trailblazer in Inbound Tour Operation) Engineer Tarzan Ganiyu Shekoni Balogun (National Icon in Tourist Boat Operations and Water Transportation), Mr. Nkereuwem Onung (Icon of Consistency and Resilience in National Tourism Leadership), and Chief Abimbola Bode-Thomas (Hospitality and Tourism Management Amazon).
Speaking on the award conferred on Runsewe and the other awardees, the President of ANJET Mr. Okorie Uguru said the awards aim to promote the culture of service to the people, and also showing appreciation to those who have served the nation with distinction while holding public office.
He said: “It is not about celebrating those who are serving the country now, but showing appreciation to those who have served in the past, to challenge current political office holders to put in their best.
“The individuals and distinguished Nigerians we are honouring are among the people that built the visibility and growth the tourism industry is enjoying today… They have contributed, and are still contributing to the sector.
“As holders of institutional memories and archivists of this industry, we know the roles they have played and are still playing in the development of the Nigerian tourism industry. That is why years after some of our awardees have left public offices, we still call them to bestow this honours.”
While receiving the award, Runsewe lamented the inability of Nigeria to take tourism seriously. He said: “I stopped talking for some time because there are too many talks in tourism, there is no action. We come; we speak big English and go back. Today, I am going to reveal two or three things. The last time I came out was to speak to the new executives of the Federation of Tourism Associations of Nigeria (FTAN). For me, I am almost tired of talking, because there is no action.
“Let me first of all thank Ambassador Ogbuewu today. He said he does not want to come, so I urged him to come. It is only the living that can be celebrated. Let us thank God that during our lifetime, we are being celebrated. It is not everybody that has that opportunity.
“I can stand anywhere and talk about this industry. I do not need a book.
“Ambassador Ogbuewu you would recollect that President Obasanjo took your very good self, led a delegation to Trinidad and Tobago. That was the day Obasanjo made a statement, he said ‘I going to stand on the existing protocol’. That was the first time they heard that English. The then president of Trinidad asked, ‘what is he talking about.’ That is a tourism brand.
“People do not understand tourism yet. People think it is only about moving from one place to the other. No. Let me reveal a few things: how many of us know the late Pastor T.B. Joshua. T.B. Joshua was selling religious tourism and nobody keyed into it? When T. B. Joshua was having his conference in Nigeria, there were over 20 private jets parked at the airport. I, maybe you did not know before today, I normally go to the airport to list how many countries they come from. I have my data. There is religious tourism in Nigeria. We have not tapped into it. We see them as pastors. Yes, pastors doing their job, but there is tourism content in what they are doing.
“If this country manages tourism well, we should not have a single child looking for a job. After agriculture, tourism is the biggest employer of labour, but we are still playing games, we are still telling ourselves stories.”
He thanked ANJET for the award and encouraged them to continue with the good work in the industry.
