Nigerian economy only viable when workers can be homeowners – expert


An expert in the real estate industry, Mr. Babajide Odusolu has said that the Nigerian economy can only be seen as viable when working professionals can afford to own their own homes.

This is even when he said that without owning their own homes, working professionals cannot achieve economic freedom, emphasizing that it is therefore critical that workers own their homes.

In an interview with reporters on Monday, Odusolu said that, being the biggest driver of asset accumulation, real estate is a pathway to financial freedom for workers.

He said this would be possible when people can grow through extensive ownership of assets, such as houses, that can be turned into tangible wealth.

He added that his company Octo5 Holdings was already working to help workers and other Nigerians create valuable and tangible assets through real estate investments and home ownership.

According to him, despite the huge trust deficit plaguing the real estate industry in Nigeria, the home buying public is still willing to invest once they see a good track record from a real estate company.

On what drives Octo5 Holdings to deliver value to customers, Odusolu stated that; “Octo5 is a vision-driven development company. We are motivated by more than just closing transactions.

“Our wish is also that each project we create has a purpose and an impact on the host community,” he said.

He added that his company’s goal is to transform communities and create projects that make it possible for any Nigerian to conveniently own property throughout the country.

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Odusolu explained that one of the ways his company intends to do this is through innovative real estate solutions that bring home ownership to more Nigerians.

“This was the thinking behind the October 2020 STOW launch of Octo5, a digital platform that makes it possible for anyone to invest in Nigerian real estate.

“The app helps people get available projects that they can invest in with payment flexibility for five years,” he added.

He called on Nigerians to strive to invest in home ownership and real estate.

“Globally, real estate is the biggest driver of asset accumulation. Real estate appreciates in value and is relatively immune to inflation. People must understand that real estate is a fundamental tool for empowerment, ”he said.

Nigerian economy only viable when workers can be homeowners - expert

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