Ayodeji Ajuwon, Co-Founder, Chief Operations & Chief Technology Officer, Land Republic Ltd is an accomplished civil engineering graduate with first-class honours from the University of Ilorin and is currently enhancing his expertise with an MBA at Columbia Business School in New York. He is also an alumnus of the Product School in San Francisco. With a robust background in technology, Ayodeji has amassed several years of extensive experience in leading innovations in automation, augmented and virtual realities, blockchain, fintech, and real estate. Professional experiences across Africa, Europe, and North America inform his global perspective.
An outstanding professional whose productive engagements have contributed in the provision of quality housing to Nigerians, “At Land Republic, our dedication to excellence and quality housing has been the cornerstone of our strategic expansion throughout Nigeria. Our approach includes diversifying our portfolio to include both low-end and middle-class properties. We initially launched in Epe and later expanded into Ibadan, where our offerings have been well received, thereby broadening our geographical footprint and penetrating new markets within the country.
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“In response to the challenges of affordability, we have innovated in our financing strategies. We’ve implemented flexible payment plans that simplify property ownership for our customers and collaborated with financial institutions to facilitate access to mortgages and loans.
“Additionally, we have embraced technology to enhance our operational efficiency and customer service. Transitioning from manual processes to automated customer management systems has allowed us to streamline operations and improve client interactions, further cementing our commitment to enabling us to streamline our processes and enhance client engagement,” he informed.
Ayodeji career commenced in game development, creating animations and crafting virtual, augmented, and mixed-reality solutions. After refining his skills with local startups, Ayodeji broadened his professional scope by joining DiRoots in the UK, focusing on 3D modelling, research, and development. His career trajectory then led him to OurPass, a rising fintech startup that transitioned into a Microfinance Bank (MFB), where he excelled as the head of product research and development.
Read also: How Technology is Transforming Real Estate in Nigeria.
While comparing Nigerian professionals to their foreign counterparts in terms of quality service delivery, the astute professional stated that service quality is highly influenced by the environment they found themselves. His words: “I believe that comparing Nigerian professionals to their foreign counterparts solely based on the quality of service delivery might not yield a fair assessment, especially within the real estate industry. It’s crucial to consider that service quality is significantly influenced by one’s environment. This encompasses various factors, including the economy, local market conditions, and available resources, all of which shape professional practices and service standards”.
He continued, “For example, the quality of services provided is often calibrated to the purchasing power of the clientele. Delivering services that exceed what customers can afford might not be economically viable. Therefore, professionals operating in larger or more developed economies may naturally offer different levels of service due to the demands and capabilities fostered by their environments. This suggests that differences in service quality are more reflective of differing circumstances than of inherent disparities in professional competence”.
Speaking on the Local Content Act in Nigeria, Ayodeji stated that the Local Content Policy was originally designed to bolster indigenous participation and enhance local benefits in sectors such as oil and gas, which has also influenced other industries, including real estate, albeit with mixed results. While the Act is not specifically tailored to real estate, its principles are reflected in policies that aim to strengthen the capabilities of Nigerian firms across various sectors. “For instance, the Act mandates that only Nigerian citizens undertake structural designs, giving local architects and engineers a significant advantage in the development and management of projects. This, in turn, supports the growth of domestic businesses and professionals.
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“The implementation of the Act has ensured that a significant portion of materials, engineering components, and human resources used across sectors like banking and oil and gas are sourced locally. However, the adoption of the Act’s provisions has been uneven, with some companies failing to fully embrace its requirements. This indicates that while the Local Content Act holds the potential to substantially boost the Nigerian economy by prioritising local operators and resources, its impact is tempered by challenges in enforcement and compliance. If fully implemented, the Act is poised to significantly contribute to economic expansion by leveraging local expertise and materials, particularly in empowering and advancing firms and creating jobs”, he stated
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An entrepreneur at heart, Ayodeji co-founded Steward, a venture-backed company that delivers financial services to educational institutions in Uganda and Nigeria. In this role, he directed business operations and product strategy.
Currently, Ayodeji plays a pivotal role at Land Republic, where he manages operations, finance, and technological innovations. His innovative approach is highlighted by his patent for a heliotropically rotating building that harnesses both passive and active energy. Additionally, Ayodeji is currently delving into treasury functions, optimising cash flows and maximising returns through strategic investments in financial instruments. He is also making inroads into investment banking and private equity.
Land Republic Ltd distinguishes itself by continually innovating to make real estate engaging and efficient for its clients. Its guiding principle is automation: if a process is repeated, it should be streamlined through technology. They take great pride in developing cutting-edge, automated solutions that simplify and enhance the real estate experience for its customers. At the heart of its operations is a strong commitment to using technology not just as a tool but as a driving force that empowers its core focus on real estate investing. This approach ensures that every interaction with its clients is smooth, efficient, and forward-thinking.
Ayodeji’s outstanding contributions have been recognized with several awards from various organisations, underscoring his commitment to excellence and innovation in his field. He informed that Land Republic projections for the years ahead is portfolio expansions and presence in the Africa market. “Over the next five years, our vision at the company is to expand our footprint and establish a more prominent presence in the African market, embracing a strategy that could be described as pro-African with a global outlook. Our plan includes diversifying our portfolio through various real estate investment instruments and transitioning towards becoming a key player in real estate investment finance. Unlike many in the industry, we aim to master the financial nuances of real estate, providing our customers and investors with optimal strategies to maximise their returns across multiple channels.
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“Additionally, we are exploring the potential of fractionalization in real estate investments, with a strong focus on assessing its profitability before full implementation. Furthermore, we’re on the brink of launching a groundbreaking product set to revolutionise the real estate industry: “Land Charting” This innovative product will allow individuals, including land buyers, organizations and realtors, to confirm land status and access comprehensive information about properties across Nigeria.
“While we are eager to grow and innovate, our top priority remains profitability and sustainability, ensuring that as we expand, we continue to deliver value to our stakeholders. These are just a few highlights of our strategic roadmap for the coming years”, he said.
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