Nigeria’s new President, Bola Tinubu has been challenged to bring his wealth of experience in the business and investment world into the real estate and hospitality industry, in order to bring about speedy development of the nation’s economy.
The Chief Executive Officer (CEO) / Group Managing Director (GMD) of Mshel Group Limited, Barka Umaru Mshelia, while acknowledging Tinubu’s pedigree in business observed that the real estate and hospitality sector has capacity of attracting foreign investment and providing funds needed for the country’s economic growth and transformation.
Mshelia was speaking at the unveiling of the multi-billion naira Lisa Suites in Asokoro, Abuja.
According to the group’s CEO, despite the immense potential of the two sectors, they remain under tapped by both the government and the private sector.
“I believe President Bola Tinubu is a businessman and I can tell you that the same way he revolutionised real estate in Lagos, I am anticipating that it would be a great opportunity in Nigeria, for him to tap a lot of opportunities that will bring about foreign investment, that will increase our economic activities in the city of Abuja and Nigeria at large.
“So, I believe that with the way he is coming, irrespective of the limitations they might find on ground, I believe he is one who understands business dynamics and would be able to create a great distinction in real estate business in the city of Abuja,” Mshelia said.
The GMD, disclosed that as part of efforts at exploiting the huge opportunities in Nigeria, the group in addition to championing a new movement of real estate, with the introduction of smart houses, was determined to change the hospitality industry.
“There are lots of opportunities in the hospitality industry because it has a lot of potentials; people are looking for places where they can sit down, relax and have good opportunities,” he said.
“We are ripe in the market; we came when a lot of opportunities reside here in Abuja. Lately, I have seen in news that prices of property and accommodations in Abuja have gone surge because there’s scarcity, not just scarcity, but scarcity of quality accommodation and that is why we distinguished ourselves to provide Lisa Suites with that level of accommodation,” he added.
Mshelia urged Nigerian youth to seize the opportunities in the sector to chart a new economic pathway that would move the economy into a better place and greater heights.
Also speaking, Chairman of the Group’s Board of Directors, Dr. Musa Tarimbuka, while observing that high topnotch hotels and suites in Abuja was less than two per cent, stated that Lisa Suites was not just coming to reduce the wide gap in the sector, but offers “something that has a different perspective from what Abuja city offers at the moment.”
Tarimbuka, disclosed that the group plans to replicate similar structures in Abuja, within no distant time as part of its expansion and dominance strategy.
Similarly, a member of the Board, Mr. Adewale Fagbenro, stated that the board and management have been deliberate in terms of capacity building for the employees and organization; upscaling corporate governance structure; enhancing capability of control function; and diversifying into other businesses.
“We see a lot of opportunities not only in the real estate but also in hospitality and what you are seeing here today is a testimony to the dedication and vision of the founder,”, he said, adding that the major challenge in the sector has to do with finance and the purchasing power of an average Nigeria, as well as infrastructure.
The facility which boast of a cinema, kitchenette, world class restaurant that serve guest complimentary breakfast, rooftop lounge, spa, barbing saloon, swimming pool and excellent customer care, was unveiling by former Chief of Army Staff, Gen. Martin Luther Agwai (Rtd).
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