akinropoesv, #12B, Adeshina Street, beside ADESON Hotel, off Ezekiel Street, Ikeja, Lagos (2026)

Q: What is the address?

#12B, Adeshina Street, Beside ADESON Hotel, Off Ezekiel Street, Ikeja

08/01/2026

Toronto’s 9.5% Hike vs. Lagos’s ₦1 Trillion Gap: Two Cities, One Truth About Paying for Urban Life

For over two decades, the Lagos State Land Use Charge has been a cornerstone of its revenue, yet its yield has been a slow, incremental climb—from mere billions in the early 2000s to a projected ₦72.5 billion in 2025. The numbers tell a story of immense potential and profound underperformance.

The cumulative history stands in stark contrast to a recent, staggering revelation from Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, on fiscal truth that reframes our entire understanding of the city’s potential: with an effective, modern property tax system, the Lagos State Government could generate not tens of billions, but up to ₦1 trillion annually.

This is not just a revenue gap. It is a 2,000% chasm between current reality and achievable potential—a gaping shortfall that explains everything. It is the fundamental reason our streets flood, our public schools remain under-resourced, and our celebrated title of "Center of Excellence" feels less like a lived reality and more like an unfulfilled promise.

While historical collections show administrative progress, they pale against the scale of need and possibility. Bridging this chasm requires more than political will; it demands a systemic revolution in how we value, account for, and fund the very assets that make a city function. The journey from ₦50 billion to ₦1 trillion is the journey from a city that scrapes by to a city that truly thrives. The numbers are staggering—and they reveal everything wrong with how Nigeria’s richest city finances itself.

Want to read more on the lessons from Toronto and the path forward? Read the full article via the link.

https://lnkd.in/dyH5SNC7

01/01/2026

2025 Reflection | Achievements and Gratitude

#2025 marked a defining chapter in my professional story—a moment where years of dedication culminated in a profound honour.

On the 21st of February 2025, I was formally inducted as a of the Nigerian Institution of Estate Surveyors & Valuers at the Eko Hotel & Suites, Lagos. This elevation from to Fellow was more than a title; it was the quiet affirmation of a professional journey built on focused practice, steadfast mentorship, and a deep commitment to our profession.

My path to this moment was paved within the institution itself. From my early days as an Associate—serving on the NIESV National Council and NIESV Lagos Branch Committees, contributing across faculties/business divisions and conference planning teams—every role taught me that true professional growth is rooted in , , and meaningful .

The ceremony was a powerful convergence of purpose, further inspired by Senate President Senator Godswill Akpabio, who, upon receiving his Fellowship, called for a united front to advance policies in , , services, and —a mission that deeply resonates with our collective work.

With profound gratitude to God, my family, mentors, colleagues, clients, and the entire professional community that has shaped this journey, I look forward to the road ahead. This Fellowship is not an end but a new vantage point—the beginning of the next chapter in building a more sustainable and prosperous future together.

A heartfelt thank you to everyone who shared in this moment and celebrated with us—the NIESV Class of 2025 Fellows.

📸 Drop a "hello" if you spot yourself in the picture gallery or video!

Music credit: Victoria Orenze | Gratitude

28/12/2025

How the FRC's IAS 29 Update Resets Valuation Models, Discount Rates, and Financial Reports

The Financial Reporting Council of Nigeria (FRC) has determined Nigeria does not meet the criteria for hyperinflation under IAS 29—https://frcnigeria.gov.ng.

This FRC's update on IAS 29 has immediate and direct implications for estate surveyors and valuers conducting valuations for IFRS-compliant reporting (IAS 16, IAS 40, IFRS 13). The decision shifts focus back to core valuation fundamentals and observable market evidence, providing a stable reporting framework for Nigeria’s economy.

The key changes effectively reflect on:

- Methodology Shift: Valuations for IFRS purposes proceed under the standard historical cost or fair value model. All values are to be expressed in nominal Nigerian Naira at the valuation date.

- Core Impact on Models: Discount rates and cash flow projections in the income approach are now nominal. There is no mandated general inflation premium; instead, focus shifts to capturing asset-specific inflationary risks within cashflows and market-observed yields.

- Increased Stability and Comparability: The ruling reduces reporting complexity and litigation risk, ensuring greater consistency and reliability across valuations and financial statements.

But what does this mean in practice for your valuation approach under the FRC's Standard for Financial Reporting?

For the full details, visit the link: https://lnkd.in/dWwfrzt3

FINANCIAL REPORTING COUNCIL OF NIGERIA
Financial Reporting Council of Nigeria
NIESV National NIESV Abuja NIESV Lagos Branch
Accounting and Financial Reporting Council (AFRC)
The Institute of Chartered Accountants of Nigeria
CITN
Chartered Institute of Taxation of Nigeria UK district
ACCA
The Institute of Internal Auditors
The Chartered Institute of Bankers of Nigeria - CIBN
Chartered Institute of Loan and Risk Management of Nigeria
The Chartered Risk Management Institute of Nigeria (CRMI)

24/12/2025

Tinapa Edi Nnyin Ikọ – Nam Nnyin Daha. Tinapa is ours. Let us revive it.

Twelve years ago, I walked Tinapa's corridors. The bold vision of Nigeria’s first integrated free zone and resort was undeniable—but so was its ex*****on deficit.

By 2011, that promise was in receivership, erasing:
• ₦250 billion in asset value
• ₦84 billion in lost revenue
• 2,000+ job-years

Yet, its core value proposition stands unchallenged. Tinapa remains Nigeria's only asset combining a Free Trade Zone (tax holidays, 0% customs, full repatriation) with a built Tourism and MICE Infrastructure—all on 80 hectares of prime waterfront land.

Now, the pivot. Cross River State has reclaimed its crown jewel. Our decade of analysis reveals a clear recovery path:
• ₦125 billion recoverable over 5 years
• ₦8.5 billion in annual revenue potential
• 5,000+ sustainable jobs

The lesson is clear: Tinapa didn't fail as an asset—it failed from mismanagement and politics. Now, the revival requires professional ex*****on.

To Cross Riverian and fellow professionals:
We witnessed Lagos build billion-dollar assets (Alaro City and LADOL). Now, Tinapa needs:
• Estate Surveyors and Valuers to secure its worth
• Hospitality Experts to run it globally
• Finance and Legal Minds to structure and protect deals
• Marketing Strategists to rebrand its story

This is not a rescue mission. It is a strategic repositioning of a world-class asset currently priced at a 90% discount to its inherent value.

Continue reading: https://lnkd.in/eE-QY6Kd

14/12/2025

In today’s complex asset environment, “accurate valuation” is the baseline expectation. What clients—investors, developers, and boards—actually pay for is judgment: the ability to architect a strategy that optimizes value, navigates regulatory shifts, and anticipates market evolution.

The traditional role of “valuer”—focused essentially on appraisals and transactional assessments—is no longer sufficient in a market where real estate contributes over 6% to Nigeria’s GDP and urbanization is expanding at 4.3% annually. Clients now demand more than numbers; they demand strategic insights, risk analysis, and value creation.

🔓 The Imperative:
This isn't about optional upskilling. It's about relevance in a market where data is commoditized and insight is king. We explore the forces making the leap from valuer to strategist an existential necessity.

🧠 The Mindset:
Shift from asking "What is it worth?" to "What could it become?" This section defines the core principles: strategic curiosity, commercial synthesis, and the courage to own a recommendation.

📐 The Measure:
Forget generic reports. The new benchmarks are client outcomes: deals enabled, risk mitigated, capital secured, and strategic optionality created. We identify the key performance indicators for the advisory tier.

While the technical competence can get you the instruction, it won’t secure your role as a trusted advisor. If you want to move from producing reports to guiding decisions, stop thinking like a valuer and start thinking like an Asset Strategist.

Download the PDF here: https://lnkd.in/dWZbaj9s

Continue reading for the complete analysis here: https://lnkd.in/dDnpwD2X

PropertyValuation

13/12/2025

My Charge to the New Custodians of Value: Newly Inducted MNIVS

Dear Esteemed New Inductees,

On behalf of the , I formally welcome you into the Nigerian Institution of Estate Surveyors & Valuers. Since your induction on December 4th, 2025, we have passed on the torch and accepted you into a profession that is the very bedrock of , , and in our . This is far more than a new ; it is a profound calling.

Look around you. You are now part of a dynamic and credible force. With your , our professional ranks have swelled—a clear sign of the growing demand for our . But we do not gather for numbers alone. We assemble to build. You are the generation that will construct the hashtag upon the foundation we have laid.

From this moment, your professional identity now carries a dual mandate:

1. To be Custodians of Trust: The integrity of the market now rests in your hands. Every you sign and every advisory opinion you give must be forged in , , and unwavering . You are the essential line between and .

2. To be Architects of Capital: The future of this profession—and your own success—demands that you look beyond traditional boundaries. You must master the valuation of complex, income-generating assets and develop the expertise to transform physical properties into credible financial instruments. Through this, you will expand investment frontiers, drive capital formation, and secure our profession's rightful place at the table where global capital decisions are made.

The path ahead is one of strategic growth. We are not just aiming for more members; we are building a globally competitive Nigerian valuation and advisory industry. By 2035, our vision extends to 40,000 professionals. But that vision is hollow without you—without your skill, your ethics, and your ambition to underwrite a new local-global frontier.

As we lay this groundwork, let us build this future together. The induction is your commissioning.

Welcome to the vanguard!

Ise ya!

12/12/2025

A silent financial earthquake is rumbling through Nigeria’s banking sector, and its epicentre is the demolition sites of Lagos, Abuja, Port Harcourt, and Ibadan. From the high-value plots of Ikota and Lekki to the dense urban fabric of Oworonshoki and Ajao Estate, the state government’s bulldozers are not just levelling “non-compliant” buildings. They are systematically dismantling a foundational pillar of secured lending: the inviolability of collateral.

These actions have invalidated the foundational assumption underpinning all real estate finance: the immutability and legal security of the physical asset. What happens when the N200 million property securing a N150 million loan is reduced to rubble by state action? The asset is not just impaired; it’s obliterated. The "security" becomes a liability—a plot of land that may be disputed or even revoked.

A recent closed-door session with senior financiers revealed an urgent, singular agenda: to completely reevaluate the 2026 market. The twin threats of EFCC scrutiny and, more devastatingly, state demolitions have created a consensus: without concrete alignment between housing finance, physical planning, and title regularisation, we face certain chaos in housing starts and the total collapse of property as trusted collateral.

The immediate financial impact is already triggering a threefold crisis across property and financial markets:

1. Risk Repricing and Credit Contraction: Banks are effectively red-zoning real estate lending. Mortgage applications now face paralysing scrutiny, while Loan-to-Value (LTV) ratios are being slashed from 80% to 50% or lower. The result is not a slowdown—it is a violent contraction of credit.

2. NPLs on Steroids: For existing loans, the Non-Performing Loan (NPL) index is set to explode. Borrowers whose properties are demolished lose their home and their equity, but their loan obligation remains. Their capacity to repay evaporates, while the bank’s recourse (the collateral) is gone. This creates a double-balance-sheet crisis: distressed households and capital-impaired banks.

Continue reading at: https://lnkd.in/daRTQzM6

07/12/2025

From Concrete to Capital: Deconstructing the Foundation of Lagos's N1tn Asset-Backed Security

Lagos State’s ₦1tn Asset-Backed Securities (ABS) issuance isn’t just funding—it’s a fundamental transformation.

For too long, public assets have been seen as expenses, not engines of value. Lagos is changing that narrative: turning transport hubs, utilities, and equity stakes into investable financial assets. This isn't only about building infrastructure—it's about building confidence and deepening Nigeria’s capital markets.

Yet, a glaring value gap persists. Take the Oshodi Interchange, a $70 million (≤ ₦13.79 billion) transport and commercial hub. Managed as a public utility, its financial potential remains capped. Managed as an asset, its value could fuel growth across the economy:

1. Potential Gross Income: ₦4.064 billion – unrealised revenue from public investment.
2. Net Cash Flow: ₦2.567 billion – income that could attract investors and boost tax revenues.
3. Market Value: ₦162.6 billion – balance sheet strength ready for securitisation.

These numbers tell a story of missed opportunities for the government, businesses, professionals, and investors alike.

With Lagos (and many other public entities) standing at a crossroads-continue as a holder of utilities, or evolve into a manager of the shift requires professional judgment, global best practices, and a commitment to the Highest and Best Use of every asset.

As Estate Surveyors and Valuers, our core mandate is to empower both public and private sectors to transform vision into a tangible, valued reality.

Joining to move from concrete to capital is a call to build Lagos’s future on a foundation of lasting value.

Itesiwaju Eko, Ajumoshe gbogbo wa ni!
Eko o ni baje!

State Government
Group
Hill Denham

City

Read the full analysis:

https://lnkd.in/dJmAYbqk

04/12/2025

Lagos State’s ₦1tn Asset-Backed Security (ABS) is more than a bond—it's a strategic reset.

For the first time, a subnational in Africa is reimagining its balance sheet, shifting from being a custodian of public utilities to a manager of financial assets. This isn’t just about roads and rails—it’s about building investor confidence and deepening Nigeria’s capital markets. By turning transport hubs, utilities, and equity stakes into investable assets, Lagos is signalling confidence and deepening Nigeria’s capital markets.

Our forensic valuations at akinABRAHAM & ASSOCIATES LTD of Lagos State Government's assets—spanning Oshodi Interchange, Blue Line Rail, Stadia, Waterworks, and equity stakes in LADOL and Alaro City—reveal a compelling story. The conservative DCF analysis already places core assets above ₦325bn. With toll rights, land banks, and other income streams included, the ₦1tn target is not a ceiling but a floor.

The key lies in governance:

1. Transparent, International Valuation Standards Council (IVSC)-compliant valuations by independent, ESVARBON-registered Estate Surveyors and Valuers

2. Dedicated Asset Managers to optimise performance and revenue.

If structured across senior, mezzanine, and equity tranches, this ABS remains one of the investment vehicles that caters to diverse investors—pension funds, income funds, and private equity alike.

If managed to their Highest and Best Use, Lagos’s assets evolve from static infrastructure into dynamic engines of perpetual funding—laying the foundation for a multi-trillion-naira sovereign wealth portfolio.

With this, Lagos State is positioning itself as a true capital market powerhouse.
https://lnkd.in/d6FWPe3m

21/11/2025

🎯 Inside the Magical Black Box: Where Prime Retail Meets Scalable Digital Revenue

After breaking down the numbers behind the Festival Mall sale (https://lnkd.in/dUPsRRSF) and decoding the ₦15B+ evolution of (https://lnkd.in/dF6fjfxW), our analysis has sparked a global dialogue with serious institutional investors.

In every conversation with institutional investors, one question is non-negotiable: "We see the marketing—now show us the proprietary engine inside the 'Black Box' that drives repeatable, premium returns."

Today, we are opening the Black Box entirely. Leveraging 16 years of valuation and market analysis (2014-2030), we have benchmarked Purple Maryland Mall to definitively map its competitive standing and future potential.

The core of the Black Box is the integration of prime retail, digital media, and data-driven operations into a single, unstoppable cash flow engine, transforming a traditional mall from a passive landlord into an active, hybrid investment platform.

📈 The key investment highlights and market fundamentals include:

🟦 Valuation & Returns

🟨 Operational Excellence

✅Digital Revenue Multiplier – The Game Changer

🧊Purple Maryland is a Blueprint

For the regional and global investment community: this is a value-creation engine built by .

The question is no longer what’s inside the Black Box. The scaling is next!

Read more at:

https://lnkd.in/duN26UmZ

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