LAGOS — Efficacy Development PLC, a prominent Lagos-based real estate company, has celebrated its 17th anniversary, marking nearly two decades of operations and significant contributions to Nigeria’s housing sector.

Speaking at the anniversary event, Managing Director Dr Oyeleke Ajiboye traced the company’s evolution from Efficacy Homes Limited in 2008, to Efficacy Construction Limited in 2015, and its rebranding as Efficacy Development PLC in 2024.

Dr Ajiboye said the firm has delivered over 6,000 properties, ranging from land to housing units, benefiting a wide spectrum of Nigerians, including young couples, graduates, and retirees. Beyond housing, the company has sponsored students, awarded educational scholarships, and provided vocational skills training in fields such as fashion design and hairdressing.

The company has also invested in employee welfare, including establishing a cooperative society to help staff acquire property, awarding long-serving employees with homes, and offering financial incentives for outstanding performance. In addition, Efficacy has contributed to community development through the construction of schools, provision of free classrooms, renovation of public schools, and building of community health centres in partnership with NGOs.

Addressing challenges in the sector, Dr Ajiboye underscored the difficulty of sustaining affordable housing projects without government intervention. He revealed that Efficacy’s affordable housing programme, launched in 2020, has slowed due to funding constraints but is now being reviewed in collaboration with federal and state authorities.

“We have gained valuable insights and are collaborating with government to enhance access to housing funds and ensure more Nigerians can afford basic accommodation,” he said, adding that the firm is also advocating for legislation to protect real estate practitioners and investors.

Reflecting on the company’s philosophy, Dr Ajiboye said its success lies in targeted, disciplined execution. “One principle we learned early in business is to aim small and miss small,” he noted, stressing the importance of precision in project planning and transparency with clients.

Expressing gratitude for the company’s journey, Dr Ajiboye credited its growth to divine guidance, loyal clients, dedicated staff, and strong mentorship. “All glory be to God. He has kept us free from scandals and negativity… My heart is truly filled with gratitude,” he said.