Ashimolowo: Those Who Don’t Invest In Lagos Will Regret It Later

A warning has been sent to investors in Nigeria by Pastor Matthew Ashimolowo, General Overseer of the Kingsway International Christian Center.

He forewarned them that they would come to regret not making investments in Lagos now.

On Monday, he said as much in a widely shared video. The senior pastor emphasized Lagos as a top investment destination while narrating lost chances and the sharp increase in property values over time.

He said, “Anyone who does not invest in Lagos now will regret it in 10 years because some of us regret not responding to Lagos on time. I came to Lagos as a young pastor when a plot of land in Opebi was ₦500 and Allen Avenue was ₦1,000 for a plot.

“You may say that was a long time ago, but Allen was a bush. Most of Ikeja was bush. I can still see Gbemisola Street where Fela lived at one time. It was a three-quarter bush because a cousin of mine used to stay in a bungalow that was half-built there.

“Allen was a bush and Opebi was a bush. I remember when our church bought two plots of land in Isolo for ₦500 each, and I recall my father-in-law, who was our senior pastor, insisting we must buy two plots when some people said one was enough. He was foresighted.

“We bought plots of land for ₦3,000 in Akoka. The Opebi plot, which I wouldn’t have bought for ₦500 at the time, I purchased in 1980 for ₦10 million in 2004, and built four flats and a small house at the back. I stayed there for a few years and sold the entire property in 2018 for ₦120 or ₦150 million. My investment there was ₦55 million.”

Ashimolowo stressed that no salary could match the returns from strategic investments in Lagos.

He urged potential investors to seize the opportunity now, as Lagos and other parts of Africa are becoming increasingly attractive to international investors, particularly those from Asia, who are looking for new opportunities beyond Europe.

“People in Asia are now looking into Nigeria because they are tired of Europe. They have the money, and a day will come when places will be cleaned up and transformed,” Ashimolowo added.

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Rose Ajieh