“I never had a rich father or a powerful aunty. No one taught me cash cashflow or debt management. But life taught me something more powerful—GRIT. And through that, we shall confront every difficulty, pay every debt, and build Nigeria’s tallest residential building.” Dr. Sijibomi Ogundele, LLB
Over the past 12 years, we’ve paid over ₦7.2 billion in salaries, with our current monthly overhead at approximately ₦150 million. Our assets now exceed ₦100 billion, and we are in the process of building Nigeria’s tallest building, valued at over $220 million. Despite the challenges, we continue to manage our cash flow effectively. Yes, we carry some debt—just as Nigeria and many other countries do—but what matters most is that, regardless of what the economy dictates, we remain steadfast in our mission to bridge the debt gap and continue building luxurious edifices that redefine how people live.
“I never had a rich father or a powerful aunty. No one taught me cash cashflow or debt management. But life taught me something more powerful—GRIT. And through that, we shall confront every difficulty, pay every debt, and build Nigeria’s tallest residential building.” Dr. Sijibomi Ogundele, LLB
Over the past 12 years, we’ve paid over ₦7.2 billion in salaries, with our current monthly overhead at approximately ₦150 million. Our assets now exceed ₦100 billion, and we are in the process of building Nigeria’s tallest building, valued at over $220 million. Despite the challenges, we continue to manage our cash flow effectively. Yes, we carry some debt—just as Nigeria and many other countries do—but what matters most is that, regardless of what the economy dictates, we remain steadfast in our mission to bridge the debt gap and continue building luxurious edifices that redefine how people live.
The ever-evolving landscape of Nigerian business has always been defined by turbulence, yet the real estate sector, with all its promises of luxury and progress, is where true grit and resilience are put to the test, from a rapidly depreciating Naira to the soaring costs of building materials.
In just three years, the Naira has plummeted from ₦450 to ₦1,600, while the cost of essential building materials—cement, steel, tiles, and importation—skyrocketed by over 300%. A container that cost less than ₦6 million to clear just a few years ago now costs ₦24 million—an increase of over 300% that significantly impacts any balance sheet. To make matters more difficult, banks now charge an interest rate of 35% —a rate that is not only unaffordable but also nearly impossible to access. It’s so challenging to do business in Nigeria when the very cost of capital can break an enterprise.
For most, these challenges would have been insurmountable. While many would have buckled under this pressure, we at Sujimoto Holdings chose to embrace the change, adapt and evolve. We achieved this through grit, resilience, and unwavering determination. Today, we are actively diversifying to support our cash flow and ensure we meet our obligations with urgency. With assets worth over ₦100 billion, we are also proudly constructing Nigeria’s tallest residential building, a landmark development worth over $220 million.
Despite the significant overhead costs, not a single unit of Lucrezia has been sold in the past two and a half years. You can imagine how this could affect the cash flow of any company, especially when most of our income is generated from the sales of properties. But at Sujimoto, we don’t relent. While this challenge has tested our resolve, it has also strengthened our commitment to our vision.
When we first embarked on this journey, no one could have predicted the storm of economic volatility, a free-fall of the Naira, and a surge in costs that would hit us head-on. Instead, we adapted, innovated, and turned every obstacle into an opportunity. As businesses closed, economies fluctuated, and competitors scaled back, we took a bold stand. While global giants like GE, Microsoft, and T-Mobile retreated, we expanded. We pushed forward, hired more talent, and broke ground on new projects, proving that when you hold onto your vision with grit, the impossible becomes possible.
Sujimoto has not only built exceptional properties but also created immense value for its employees and investors. With a workforce supported by a current monthly overhead of over ₦150 million and salary disbursements totaling ₦7.2 billion over the last 12 years, our impact goes far beyond real estate. With the rollout of our ambitious new projects, we anticipate this figure to triple. This increase isn’t just about numbers—it’s a reflection of our continuous growth, innovation, and determination to push the limits of what’s possible, even in the face of adversity.
With the new iconic LeonardoBySujimoto project, we will be generating significant employment across both formal and informal sectors—from engineers, architects, and foremen to labourers and even the mama put who feeds over 500 workers on site daily.
The true measure of our success, however, is not just in the grand structures we’ve built but also in the returns we’ve delivered to our investors. In 2020, one of our investors, who purchased a unit in the Giuliano project for ₦285 million off-plan, sold that same unit five years later for ₦2.2 billion. That’s over 800% return on investment. Our success isn’t just growth; it’s a testament to our ability to put our customers first and deliver exceptional value—helping them turn their ₦1 into ₦3.
In the past eight years alone, Sujimoto has paid out over ₦6.7 billion in investment returns, a testament to our unwavering commitment to delivering measurable, undeniable results. The LeonardoBySujimoto, one of our most ambitious projects, aims to redefine luxury living. Located on 4,000 sqm of prime waterfront land in Banana Island, this $220 million mixed-use residential marvel will rise above 36 storeys, built upon 312 piles of pure luxury—an architectural feat that will stand proudly as the tallest one of Nigeria’s most prestigious landmarks.
READ MORE: The Vatican has announced that the Pope’s funeral will be held on Saturday.
Even as the economy remains volatile, we have pressed forward with confidence, breaking new ground, expanding our team, and continually pushing the boundaries of what’s possible. When others doubted, we remained steadfast—believing that greatness isn’t defined by economic constraints but by the relentless pursuit of ambition and vision. When people doubted us, we stood firm. Industry experts advised against proceeding, claiming it wasn’t the right time or the right economy but we chose a different path, not only to build the tallest and most sophisticated building in Nigeria, but the most luxurious building on the continent of Africa.
We had already sold over 30% of the project to investors before breaking ground, a clear indication of the market’s confidence in our vision. The success of the project lies in its alignment with what Nigerians truly want: to redefine the way they live without breaking the bank. Whether it’s a luxurious four-bedroom apartment or a more accessible two-bedroom unit, we’ve created a model that offers flexibility, value, and lifestyle—proving that premium living can also be practical.
“Like all great companies that have sparked revolutions in their industries, Sujimoto’s story is one of resilience through adversity. We’ve faced capital and liquidity challenges, but we didn’t buckle. We kept moving forward, kept breaking new ground, and kept our promises. We shall pay back every nickel and build every house we’ve promised,” Dr Sijibomi Ogundele affirmed.
The cost of doing business in Nigeria has never been higher, and the odds have never been steeper. In the past five years, we’ve brought in over 400 containers, even as the cost of clearing a 40-foot container soared from ₦4 million to ₦24 million. These challenges could have derailed us, but as entrepreneurs, we understand that greatness isn’t born from calm waters—it is forged in the crucible of adversity. Instead of crying over spilled milk, we turned every obstacle into an opportunity. When life threw us containers full of challenges, we simply turned those containers into skyscrapers.
Our ambition is not just to build houses, but to create enduring landmarks—structures that stand as powerful testaments to vision and ambition. One such project is Lucrezia by Sujimoto, the tallest building in Banana Island, valued at over ₦80 billion. Now at 98% completion, this iconic property is set to open its doors by September 2025, showcasing its remarkable blend of architectural brilliance, luxurious finishing, and bold innovation.
With 112 piles anchoring its foundation and a design that boldly challenges conventional standards, Lucrezia is far more than just a building—it is an iconic monument. This architectural masterpiece is not your typical ‘face-me-I-face-you’ structure; it is a symbol of what Nigerian real estate can achieve when it dares to dream beyond limitations.
Criticism is inevitable when you dare to dream big. Despite the constant presence of doubters and naysayers, we remain unaffected. As we face each challenge head-on, we stay committed to our promise—to build the future of Nigeria’s real estate industry and beyond. Through it all, we will not back down. Sujimoto will rise, and we will continue to deliver on our promises— transforming the impossible into reality, one project at a time.
“Sujimoto has stood tall for over 12 years, refusing to accept mediocrity or the status quo. So, to our investors, believers, and those who carry our dream in their hearts — thank you; we will not let you down!” Dr Sijibomi Ogundele.
Dr. Sijibomi Ogundele is the Group Managing Director of Sujimoto Holdings, the Czar of Luxury RealEstate Development, and the mastermind developer behind the renowned Giuliano. Our other audacious projects, such as the most sophisticated building in Banana Island, LucreziaBySujimoto, the grandiose Sujimoto Twin Tower, the tallest twin towers in Africa; the regal Queen Amina by Sujimoto, a monument to royal affluence; the magnificent high-rise LeonardoBySujimoto; the Sujimoto Farm; an advanced farm estate system that incorporates housing, farm hospitals, hotels, and markets within an ecosystem, creating opportunities for agro-tourism and affordable housing., among other projects that have etched an indelible imprint on Nigeria’s skylines, a testament to Sujimoto’s unrivalled mastery of modern-day engineering.
The ever-evolving landscape of Nigerian business has always been defined by turbulence, yet the real estate sector, with all its promises of luxury and progress, is where true grit and resilience are put to the test, from a rapidly depreciating Naira to the soaring costs of building materials.
In just three years, the Naira has plummeted from ₦450 to ₦1,600, while the cost of essential building materials—cement, steel, tiles, and importation—skyrocketed by over 300%. A container that cost less than ₦6 million to clear just a few years ago now costs ₦24 million—an increase of over 300% that significantly impacts any balance sheet. To make matters more difficult, banks now charge an interest rate of 35% —a rate that is not only unaffordable but also nearly impossible to access. It’s so challenging to do business in Nigeria when the very cost of capital can break an enterprise. For most, these challenges would have been insurmountable. While many would have buckled under this pressure, we at Sujimoto Holdings chose to embrace the change, adapt and evolve. We achieved this through grit, resilience, and unwavering determination. Today, we are actively diversifying to support our cash flow and ensure we meet our obligations with urgency. With assets worth over ₦100 billion, we are also proudly constructing Nigeria’s tallest residential building, a landmark development worth over $220 million.
Despite the significant overhead costs, not a single unit of Lucrezia has been sold in the past two and a half years. You can imagine how this could affect the cash flow of any company, especially when most of our income is generated from the sales of properties. But at Sujimoto, we don’t relent. While this challenge has tested our resolve, it has also strengthened our commitment to our vision.
When we first embarked on this journey, no one could have predicted the storm of economic volatility, a free-fall of the Naira, and a surge in costs that would hit us head-on. Instead, we adapted, innovated, and turned every obstacle into an opportunity. As businesses closed,
economies fluctuated, and competitors scaled back, we took a bold stand. While global giants like GE, Microsoft, and T-Mobile retreated, we expanded. We pushed forward, hired more talent, and broke ground on new projects, proving that when you hold onto your vision with grit, the impossible becomes possible.
Sujimoto has not only built exceptional properties but also created immense value for its employees and investors. With a workforce supported by a current monthly overhead of over ₦150 million and salary disbursements totaling ₦7.2 billion over the last 12 years, our impact goes far beyond real estate. With the rollout of our ambitious new projects, we anticipate this figure to triple. This increase isn’t just about numbers—it’s a reflection of our continuous growth, innovation, and determination to push the limits of what’s possible, even in the face of adversity.
With the new iconic LeonardoBySujimoto project, we will be generating significant employment across both formal and informal sectors—from engineers, architects, and foremen to labourers and even the mama put who feeds over 500 workers on site daily.
The true measure of our success, however, is not just in the grand structures we’ve built but also in the returns we’ve delivered to our investors. In 2020, one of our investors, who purchased a unit in the Giuliano project for ₦285 million off-plan, sold that same unit five years later for ₦2.2 billion. That’s over 800% return on investment. Our success isn’t just growth; it’s a testament to our ability to put our customers first and deliver exceptional value—helping them turn their ₦1 into ₦3.
In the past eight years alone, Sujimoto has paid out over ₦6.7 billion in investment returns, a testament to our unwavering commitment to delivering measurable, undeniable results. The LeonardoBySujimoto, one of our most ambitious projects, aims to redefine luxury living. Located on 4,000 sqm of prime waterfront land in Banana Island, this $220 million mixed-use residential marvel will rise above 36 storeys, built upon 312 piles of pure luxury—an architectural feat that will stand proudly as the tallest one of Nigeria’s most prestigious landmarks.
Even as the economy remains volatile, we have pressed forward with confidence, breaking new ground, expanding our team, and continually pushing the boundaries of what’s possible. When others doubted, we remained steadfast—believing that greatness isn’t defined by economic constraints but by the relentless pursuit of ambition and vision. When people doubted us, we stood firm. Industry experts advised against proceeding, claiming it wasn’t the right time or the right economy but we chose a different path, not only to build the tallest and most sophisticated building in Nigeria, but the most luxurious building on the continent of Africa.
We had already sold over 30% of the project to investors before breaking ground, a clear indication of the market’s confidence in our vision. The success of the project lies in its alignment with what Nigerians truly want: to redefine the way they live without breaking the bank. Whether it’s a luxurious four-bedroom apartment or a more accessible two-bedroom unit, we’ve created a model that offers flexibility, value, and lifestyle—proving that premium living can also be practical.
“Like all great companies that have sparked revolutions in their industries, Sujimoto’s story is one of resilience through adversity. We’ve faced capital and liquidity challenges, but we didn’t buckle. We kept moving forward, kept breaking new ground, and kept our promises. We shall pay back every nickel and build every house we’ve promised,” Dr Sijibomi Ogundele affirmed.
The cost of doing business in Nigeria has never been higher, and the odds have never been steeper. In the past five years, we’ve brought in over 400 containers, even as the cost of clearing a 40-foot container soared from ₦4 million to ₦24 million. These challenges could have derailed us, but as entrepreneurs, we understand that greatness isn’t born from calm waters—it is forged in the crucible of adversity. Instead of crying over spilled milk, we turned every obstacle into an opportunity. When life threw us containers full of challenges, we simply turned those containers into skyscrapers.
Our ambition is not just to build houses, but to create enduring landmarks—structures that stand as powerful testaments to vision and ambition. One such project is Lucrezia by Sujimoto, the tallest building in Banana Island, valued at over ₦80 billion. Now at 98% completion, this iconic property is set to open its doors by September 2025, showcasing its remarkable blend of architectural brilliance, luxurious finishing, and bold innovation.
With 112 piles anchoring its foundation and a design that boldly challenges conventional standards, Lucrezia is far more than just a building—it is an iconic monument. This architectural masterpiece is not your typical ‘face-me-I-face-you’ structure; it is a symbol of what Nigerian real estate can achieve when it dares to dream beyond limitations.
Criticism is inevitable when you dare to dream big. Despite the constant presence of doubters and naysayers, we remain unaffected. As we face each challenge head-on, we stay committed to our promise—to build the future of Nigeria’s real estate industry and beyond. Through it all, we will not back down. Sujimoto will rise, and we will continue to deliver on our promises— transforming the impossible into reality, one project at a time.
“Sujimoto has stood tall for over 12 years, refusing to accept mediocrity or the status quo. So, to our investors, believers, and those who carry our dream in their hearts — thank you; we will not let you down!” Dr Sijibomi Ogundele.
Dr. Sijibomi Ogundele is the Group Managing Director of Sujimoto Holdings, the Czar of Luxury RealEstate Development, and the mastermind developer behind the renowned Giuliano. Our other audacious projects, such as the most sophisticated building in Banana Island, LucreziaBySujimoto, the grandiose Sujimoto Twin Tower, the tallest twin towers in Africa; the regal Queen Amina by Sujimoto, a monument to royal affluence; the magnificent high-rise LeonardoBySujimoto; the Sujimoto Farm; an advanced farm estate system that incorporates housing, farm hospitals, hotels, and markets within an ecosystem, creating opportunities for agro-tourism and affordable housing., among other projects that have etched an indelible imprint on Nigeria’s skylines, a testament to Sujimoto’s unrivalled mastery of modern–day engineering.
