Wemabod Limited has appointed engineer Nureni Adisa as its new Chairman, signaling a renewed commitment to leveraging the company’s strengths in property development to drive economic growth and enhance shareholder value.
In his inaugural address, Adisa emphasized the opportunities for growth in the real estate sector despite prevailing challenges such as inflation, currency fluctuations, and infrastructural deficits. He identified key drivers of future growth, including urbanization, a growing middle class, and increased focus on infrastructure development.
Adisa outlined five strategic pillars for the company, aimed at optimizing operations and positioning Wemabod for sustained success:
- Portfolio Optimization: The company will conduct a comprehensive review of its current portfolio to identify underperforming assets and opportunities for repositioning. “By optimizing our property mix, we can enhance returns and ensure sustainable growth,” Adisa stated.
- Expansion and Diversification: Wemabod plans to expand its market footprint by diversifying into residential, commercial, and mixed-use developments that align with evolving market demands and emerging trends.
- Innovative Financing: To fuel its ambitious growth plans, the company will explore alternative financing models, including partnerships with institutional investors and other innovative funding sources, ensuring access to capital for key projects.
- Operational Efficiency: Adisa emphasized the importance of investing in technology, adopting best practices, and streamlining processes to reduce costs, improve productivity, and ensure the timely delivery of quality projects.
- Talent Development: Acknowledging that people are the company’s greatest asset, Adisa outlined plans to foster a culture of collaboration, continuous learning, and innovation, with a strong emphasis on education and training both internally and externally.
Adisa takes over from Emmanuel Efuntayo, who expressed his gratitude to the board and management during his tenure, noting significant milestones achieved under his leadership. Efuntayo highlighted the company’s focus on corporate governance and risk management, particularly through training programs organized by the Institute of Directors (IOD) in London and Canada.
In his farewell speech, Efuntayo said, “Together, we have accomplished numerous milestones that have strengthened our position in the real estate sector and set a solid foundation for the future.”
With Adisa’s leadership, Wemabod Limited is poised to harness its capabilities in property development to contribute to Nigeria’s economic recovery and capitalize on emerging market opportunities.