10K HOUSES IN 5 YEARS

Nigeria 2020 | ECONOMY | VIP INTERVIEW

TBY talks to Dr. Ifeanyi Chukwuma Odii, Founder & CEO of Ultimus Holdings, on its investment portfolio, business sentiment in Nigeria, and plans for the coming year.

What does your current portfolio of investments look like?

Ultimus is currently active in construction, property development, and trading. Our trading business currently focused on ambiance fittings is promoted under the brand name “The ClassRoom” which offers a range of exceptional and premium lighting, bathroom, kitchen, and paint product. We have partnered with some of the leading European brands in each product category that brings decades of product leadership and quality. We currently have a property development called Parla Di Lusso located in Banana Island is poised to be the most elegant and magnificent composition of villas in the heart of the most prestigious estate in West Africa. Parla Di Lusso will be giving our prospective customers the finest of Luxury at the best cost value as we leverage on our strength in procurement through our trading company. The development promises to provoke a new vista of experiential living, above and beyond expectation. Our goal for the property development arm is to build 10,000 houses within a five-year period which will cut across all economic class and over 50% of the developments will be focused on affordable housing.

Is there still a gap in affordable housing in the Nigerian market?

Of course, there is. In Nigeria, there is currently an approximate housing deficit of 20 million and as I said earlier, our projection is 10,000 housing units across all economic class categories in five years. Ultimus is actively taking on these building projects because we are committed to making lives better for Nigerians and society at large. Creating affordable housing that cuts across every economic class will ensure that fewer people have a housing problem. As much as we want to make a profit in the near future, we will address the socio-economic challenge first.

What other investment interests does Ultimus Holdings have?

We have six major investment sector focus. The sectors which have not been mentioned are agriculture, hospitality, financial services, and ICT. These are areas growing massively and of course some more than the other but; we are assiduously mapping our investment strategy with data. The aim for us is to grow our businesses organically and consolidate them as sustainable investments.

What is your opinion on the current investment climate and business sentiment in Nigeria?

Nigeria has the largest economy in Africa and is rich in natural resources and human capital. However as every country has its own challenges, Nigeria is not exempt. More can be done by the government in terms of power and infrastructure development as these two are critical to the ease of doing business in Nigeria.

What is your outlook for 2020?

We expect that in 2020 most of Ultimus Group's current investments will record increased revenue growth as we consolidate and focus on market penetration to increase our market share and brand visibility. We hope the government will create policies that will enable our businesses to thrive. We are extremely optimistic that the year 2020 holds great promise for us.