By Janefrances Chibuzor
Dr. Frederick Okpaje, Managing Director of PWAN Haven Investment and Realtors Ltd, a leading real estate company in Nigeria, discusses the evolution of the real estate sector, its challenges, and the transformative business model reshaping the industry in this report by Berexnews.
Speaking at his Lekki County Estate office in Lagos on Wednesday, Dr. Okpaje highlighted the need for a more structured and transparent approach to real estate development in Nigeria. He addressed key issues such as land acquisition challenges, urban planning policies, and the role of private developers in shaping the sector. He emphasised that while the government has a role to play, real estate in Nigeria has largely been driven by private enterprises and individual investors, with companies like PWAN Group leading innovations in homeownership accessibility.
Property World Africa Network (PWAN) is one of Nigeria’s key players in real estate, with a focus on making homeownership accessible. Dr. Okpaje’s company, PWAN Haven, is an affiliate of PWAN Group, which operates with the vision of empowering Nigerians through innovative real estate development and investments. Under his leadership, the company has taken significant strides in transforming the industry and creating opportunities for many.
Real estate in Nigeria has traditionally been a sector dominated by individual investors and private enterprises rather than the government. While the government has a role to play, its influence in shaping real estate development is limited, and it is primarily the private sector that drives growth and development in this area. The challenge of unemployment is significant, and Dr. Okpaje’s company is playing a part in addressing this by providing job opportunities and encouraging homeownership among ordinary Nigerians.
One of the significant challenges in the Nigerian real estate sector has been the reliance on agents for land sales. These agents often faced disputes over commissions, and conflicts arose, making the process less efficient and sometimes even frustrating. To address this, PWAN Group introduced an innovative solution by integrating network marketing into the real estate business, fundamentally changing the way the sector operated. Dr. Augustine Onwumere and Dr. Jayne Onwumere, the Co- founders of PWAN, pioneered this model, recognising that it would not only improve efficiency but also empower individuals by allowing them to directly participate in the real estate business and earn through the network marketing system.
The PWAN Business Owners (PBO) program has been a game-changer, giving individuals the opportunity to achieve financial independence. This model has led to more than 300,000 PBOs actively engaged in real estate. The program has helped many people transition from struggling to pay rent to becoming proud homeowners. It has empowered individuals, turning them into business owners who were once just partners in the program. PWAN’s network marketing model has provided an avenue for people to escape poverty and achieve financial stability.
Dr. Okpaje’s own journey reflects the success of this system, as PWAN Haven grew from the PBO program into an independent brand that is now expanding beyond Nigeria, with a footprint in the United States, the United Kingdom, and other parts of Africa.
Every business faces challenges, and the real estate sector is no different. Dr. Okpaje recalled the initial struggles his company faced, from overcoming ignorance of the industry to difficulties in client acquisition. One of the major setbacks was the lack of due diligence in land acquisition. PWAN initially made some missteps in acquiring land without thoroughly verifying the properties. However, the company learned from these mistakes, adapting its approach and ensuring that future deals were based on solid, well-researched foundations.
Another challenge was maintaining integrity in an industry where issues such as land disputes and government policies could derail progress. In the early days, some communities attempted to reclaim land after it had been sold, and dealing with these disputes became a significant concern. However, PWAN implemented strict measures to protect its clients and ensure that its operations were transparent and reliable. Over time, the company’s focus on integrity helped solidify its reputation, making it one of the trusted names in Nigerian real estate.
PWAN Haven has now been in business for about seven years, and in that time, it has matured, learning from its challenges and evolving into a stronger organisation. Okpaje pointed out that the key to success in real estate lies in the ability to adapt to changing circumstances, learn from mistakes, and continuously improve the processes and systems that drive the business.
Moreover, speaking on real estate in Lagos and Nigeria at large, Okpaje emphasised the need for transparent and effective urban planning. He believes that both the government and private developers share responsibility for the development of the sector. “Developers must carry out their due diligence before acquiring land, and the government must implement clear and consistent policies that protect both developers and consumers.”
He acknowledged that Lagos State has made significant progress in urban planning, but there is still room for improvement. He advocates for the adoption of a visible and transparent master plan, which will guide the development of the city and provide clarity for developers and residents alike. “In many developed countries, master plans are not only transparent but also accessible to the public, allowing for informed decision-making.” He believes that this type of system is critical for real estate development in Lagos and other Nigerian cities.
Also, he pointed out that the current policy of demolishing buildings that do not comply with regulations is not the most effective approach. Instead of demolitions, Lagos State could implement penalties for unapproved buildings, which would not only generate revenue for the government but also discourage illegal construction.
Another critical issue, according to him, is the lack of alternative roads in certain areas, such as the limited road access to and from Epe. In his view, a master plan should account for these infrastructure needs by creating link roads to ease traffic flow and ensure smoother movement within the city.
Additionally, he reiterated the importance of transparency in land transactions. “Developers and landowners alike should have access to clear and reliable information about properties. The current system, where accessing land records comes with a cost and can be cumbersome, needs to be improved for the benefit of all stakeholders.”
Beyond the real estate sector, he is deeply concerned about the wider issue of unemployment among Nigerian youth. He noted that many young people in Nigeria are not motivated to succeed in the traditional sense, often seeking shortcuts rather than putting in the hard work and commitment required to acquire valuable skills. He maintained that there are countless opportunities available in fields such as digital marketing, AI, content creation, and technical trades, which can provide financial independence and open doors to new career paths. However, many youths are more interested in quick-money schemes than in learning skills that can benefit them in the long run.
He also stressed the role that parents play in shaping the future of Nigerian youth. Many young people today lack direction because they were raised without a solid foundation of values. He expects parents to do more in instilling discipline, respect, and responsibility in their children so they can become productive members of society. Additionally, the PWAN Haven boss asserted that women in Nigeria have shifted their focus from their traditional nurturing roles to competing with men in ways that do not foster collaboration. He believes that progress will be made when both men and women work together to build stronger families and communities.
Looking ahead, he envisions a future where Nigerians work together to create a more prosperous society. Meanwhile, he considered that adopting transparent urban planning policies, empowering youth through skill development, and returning to cultural values could help the country overcome its challenges and achieve its full potential.
As Nigeria’s real estate sector continues to evolve, the work being done by PWAN and other businesses offers a glimpse of what’s possible when innovation and collaboration drive the industry forward. By addressing issues such as land acquisition, urban planning, and unemployment, Nigeria can pave the way for sustainable growth and development in the years to come.