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BIG STORY

Sijibomi Ogundele (Sujimoto): Meet The Agege Boy That Built A $400Million Company

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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.

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.

BIG STORY

New Virus: Federal Government Tightens Monitoring, To Quarantine China Passengers

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  • Experts demand proactive steps as new virus surges in China, ravages children

 

The Federal Government on Sunday said it would activate surveillance measures for inbound passengers from China following the current surge of a respiratory virus.

Reports indicate that the virus has led to overcrowded hospitals, emergency measures, and public concerns in China.

The virus, attributed to the “Human Metapneumovirus,” has seen cases spiking across northern Chinese provinces this winter, particularly among children. Neighbouring countries such as Cambodia, Taiwan, and Hong Kong are closely monitoring the HMPV situation, having reported a few cases but no widespread outbreaks, according to reports.

According to Chinese authorities, there has been a noticeable increase in HMPV cases, especially among children under 14 years old in northern parts of the country. Social media posts, accompanied by videos of overcrowded hospitals, have sparked fears of a larger-scale health crisis.

In response to the rising cases, the Chinese government announced measures, including constant monitoring of cases, the adoption of masks, social distancing, and disinfection of public spaces to curb the increase of the virus.

The new virus outbreak is coming five years after the emergence of a novel coronavirus – “COVID-19” – in Wuhan, China, which was declared a global pandemic by the World Health Organisation on March 11, 2020.

So far, COVID-19 has infected 777 million people globally and killed over seven million, according to WHO.

However, while both HMPV and COVID-19 are respiratory illnesses, there are important differences. HMPV typically causes milder symptoms such as a cold or flu, while COVID-19, caused by the SARS-CoV-2 virus, can lead to more severe health complications and long-term effects.

HMPV is also a seasonal virus, similar to other cold-causing pathogens like RSV, and infections usually peak during the winter months. HMPV, like COVID-19, spreads through respiratory droplets when an infected person coughs or sneezes and it can also spread via contaminated surfaces.

However, officials from the National Health Commission stated that while respiratory diseases are expected to rise during the winter months, the overall situation this year is less severe than last year.

Beijing also downplayed the developments as an annual winter occurrence.

China’s foreign ministry spokesperson Mao Ning said on Friday, “Respiratory infections tend to peak during the winter season. The diseases appear to be less severe and spread with a smaller scale compared to the previous year,” she said.

A pilot programme was launched by China to track pneumonia of unknown origin, ensuring labs and health agencies reported and managed cases more effectively, state broadcaster CCTV reported, quoting an administration official at a news conference.

The US Centers for Disease Control and Prevention said HMPV could cause upper and lower respiratory diseases in people of all ages, especially among young children, older adults and people with weakened immune systems.

The U.S CDC noted that HMPV is most likely spread from an infected person to others through secretions from coughing and sneezing, close personal contact and touching objects or surfaces that have the viruses on them, then touching the mouth, nose, or eyes.

“Symptoms commonly associated with HMPV include cough, fever, nasal congestion and shortness of breath. Clinical symptoms of HMPV infection may progress to bronchitis or pneumonia and are similar to other viruses that cause upper and lower respiratory infections. The estimated incubation period is three to six days, and the median duration of illness can vary, depending upon severity but is similar to other respiratory infections caused by viruses,” the US CDC stated.

Meanwhile, health authorities in Nigeria are already implementing emergency measures to monitor and manage the spread of the HMPV.

According to The Punch, the Director, Special Duties, Office of the Director-General of the Nigeria Centre for Disease Control and Prevention, Dr John Oladejo, on Sunday, said that the Federal Government would implement preventive measures by activating surveillance measures to curb the spread of the virus.

“The FG will activate surveillance measures, like quarantine, for passengers coming in from China,” Dr Oladejo said.

Earlier in November 2024, global health body WHO noted that it was closely monitoring the situation and was in close contact with national authorities in China, adding that it would continue to provide updates as warranted.

Based on the available information, WHO recommended that people in China followed measures to reduce the risk of respiratory illness, which include recommended vaccines against influenza, COVID-19 and other respiratory pathogens as appropriate; keeping distance from people who are ill; staying home when ill; getting tested and medical care as needed; wearing masks as appropriate; ensuring good ventilation; and practicing regular handwashing.

“WHO does not recommend any specific measures for travellers to China. In general, persons should avoid travel while experiencing symptoms suggestive of respiratory illness, if possible; in case of symptoms during or after travel, travellers are encouraged to seek medical attention and share travel history with their health care provider.

“WHO advises against the application of any travel or trade restrictions based on the current information available on this event,” the body added.

First detected in Pakistan in 2001, the HMPV has caused several outbreaks over the years in the Asian nation, primarily affecting children, but the virus is new to Africa as there haven’t been reported cases on the continent.

“Human Metapneumovirus was first identified in Pakistan in 2001, and outbreaks have been reported since then,” an official at the National Institute of Health, Islamabad, said.

“In 2015, a study conducted at Pakistan Institute of Medical Sciences found 21 cases of HMPV in children hospitalised with severe lower respiratory tract infections.”

Meanwhile, medical experts have stated that implementing surveillance measures against the virus was a crucial and appropriate step in ensuring that it doesn’t spread to the country.

They emphasised that surveillance should be an ongoing process carried out continuously by the government.

A virologist at the Department of Virology, College of Medicine, University College Hospital, Ibadan, Dr Moses Adewumi said, “On good day, surveillance should always be part of us. What happens most times is that despite the amount that was voted for COVID-19, we seem to have relaxed. Our people are more interested in spending the money, and after that, we probably decide to go to sleep. So, the surveillance should be a continuous thing.

“It is good that we increase our surveillance for people coming into the country, especially from China, Japan and other places, where we have the outbreaks. The government should be more involved in surveillance because most of the surveillance and all the research we do is funded by foreign bodies, so our own government should be more interested in research, in surveillance for all these viruses.

“The virus is not new but the surge may be because there is a different variant, and that is why we need to increase our surveillance and monitor it closely to curtail its introduction into the country. Experience has taught us that if we check now, we may have our people with antibodies already, and that’s a confirmation that it’s likely that this is circulating here, maybe not the exact variants that they have now.”

Also, an Associate Professor of Infectious Diseases and Genomics in the Department of Microbiology at the Adeleke University, Osun State, Oladipo Kolawole, noted that the decision by the government to implement surveillance measures was a good one, adding that it aimed to monitor and control the potential spread of the virus, ensuring public health safety as the situation developed.

Kolawole said, “The government is likely to enhance screening processes at points of entry and provide guidelines for travellers from China, this is to mitigate risks associated with HMPV. Activating surveillance allows for the early detection of cases, which is essential in managing outbreaks effectively. Monitoring travellers from regions experiencing outbreaks can help identify and isolate cases before they spread within the community.

“Also, quarantine for inbound passengers from the affected regions can significantly reduce the risk of transmission. It serves as a precautionary measure to ensure that individuals who may be infected do not unknowingly spread the virus to others. Finally, this situation underscores the importance of preparedness in public health systems.”

Meanehile, Hong Kong has reported a few cases of HMPV following the outbreak in China while Cambodia’s Communicable Disease Control Department issued warnings about the virus, noting its similarity to COVID-19 and influenza.

Taiwan’s Centers for Disease Control said the virus poses higher risks for children, the elderly and immuno-compromised individuals.

In neighbouring India, officials said there was no need for panic as HMPV is “like any other respiratory virus.”

 

Credit: The Punch

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BIG STORY

Road To 2027: Talks On Ogun State Governorship Premature — Senator Solomon Adeola

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The Chairman of the Senate Committee on Appropriation and Senator representing Ogun West, Solomon Adeola, on Saturday, said that it was not yet time to talk about the 2027 governorship race in the state.

Adeola said that he is currently preoccupied with delivering on his campaign promises as Senator representing the people of Ogun West and that the future would determine his next political move.

The third-term Senator disclosed this while speaking with journalists during the annual New Year thanksgiving service held on Saturday at the Unity Cathedral of the Redeemed Christian Church of God, Ogun Province Seven, Ilaro.

The lawmaker has been tipped as the topmost contender for the 2027 governorship race in the state.

Asked to confirm the media report suggesting that his next political move would be to succeed Dapo Abiodun after his term in 2027, Adeola explained, “I don’t think it is time for that now, we are still involved in trying to bring back the dividends of democracy to the people as senator elected for Ogun West.

“What we are here to do today is to appreciate the Almighty God for his support in the past years and to also celebrate the new year with my people for their support and cooperation as well, because they are the ones who put me in this office.

“So, in the future, we can start talking about that when the time is ripe to know if I am going forward or I am staying where I am, the future will determine all of that.”

The lawmaker described 2024 as very fantastic with all the developmental projects and empowerment programmes facilitated for the Senatorial district, assuring a more rewarding and responsive leadership in the new year.

Adeola said, “2025 will be another exciting year, our people should be expecting good things as far as my representation at the Senate is concerned in terms of developmental projects, in terms of empowering the people and in terms of contributing to national issues on the floor of the Senate so that we can build a virile and much more prosperous country.”

He called for more support for the “All Progressives Congress”-led administration in the country, saying that President Bola Tinubu is doing everything humanly possible to restore the country to the path of economic growth and that just very soon, “There will be light at the end of the tunnel.”

Adeola, while praising the faithfulness and support of the Almighty God for his family, however, donated the sum of N50m for the completion of the ongoing construction of Unity Cathedral of the RCCG, Ogun Province Seven, Ilaro.

Speaking on the theme of the annual New Year thanksgiving, “Grateful For His Faithfulness,” the Pastor-In-Charge of the RCCG, Ogun Province Seven, Pastor Johnson Olukolatimi, urged people to be appreciative of God’s loving kindness and tender mercies at all times.

Ministering from the book of 1st Thessalonians 5 vs 18, Pastor Olukolatimi said that as much as God expected people to be thankful unto him, He wants people to do that in righteousness, urging the people to shun sinful life in the new year and serve God in holiness for the betterment of the country.

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BIG STORY

Three Nigerian Women Jailed In Saudi For ‘Drug Trafficking’ Regain Freedom

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Three Nigerian women arrested and prosecuted for alleged drug trafficking in Saudi Arabia have been acquitted and released.

In a statement on Sunday, Kimiebi Ebienfa, the spokesperson of the federal ministry of foreign affairs, said the women were released after “prolonged diplomatic and legal engagements” between the Nigerian government and Saudi authorities.

The trio, identified as Hadiza Abba, Fatima Malah, and Fatima Gamboi, were arrested for alleged possession of a substance suspected to be cocaine while on pilgrimage in Saudi Arabia.

Ebienfa said they were arrested and prosecuted on March 5, 2024, at Prince Mohammad bin Abdul Azeez International Airport in Madinah, Saudi Arabia, and released after spending 10 months in detention.

“The arrest of the three women was a result of the earlier arrest of two Nigerian nationals, who were found in possession of 80 capsules of cocaine weighing 900.28 gm and 70 capsules of cocaine weighing 789.5 gm, respectively,” the statement reads.

“The women were detained by the Saudi authorities on suspicion of being accomplices and abetting the trafficking of the banned substance found on the aforementioned arrested Nigerians.

“The ministry wishes to recall that the trio’s arrest attracted much attention in Saudi Arabia and Nigeria.

“Their successful release was achieved after prolonged diplomatic and legal engagements, which culminated in their discharge and acquittal, as well as subsequent handover to the consulate-general of Nigeria in Jeddah.

“The ladies were received by Amb. Muazam Nayaya, consul-general of Nigeria in Jeddah, who is currently awaiting relevant immigration processes for their return to Nigeria to reunite with their families.”

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