Nigeria’s housing deficit, estimated at over $500 billion, continues to widen as inflation, rising exchange rates and soaring building material costs force many developers to abandon projects. In this challenging market, one company says persistence and client trust remain central to its survival.
Drekford’s focus: completing projects and building trust
Drekford Limited, founded in 2016, has completed more than ten projects in less than ten years. Chief Executive Officer Daniel Oparinde described the recognition the firm received this year as evidence of its consistency.
“This award is a testament to our hard work and dedication,” Oparinde said. “It serves as motivation for our team to keep striving for excellence and to achieve even more as a company.”
The company’s approach is anchored on delivering completed projects. Many Nigerians have grown wary of real estate firms that launch affordable housing schemes but leave clients stranded. According to the National Bureau of Statistics (NBS), more than 17 million housing units are needed to meet demand nationwide.
Oparinde said Drekford has built credibility by ensuring projects are completed as promised. “We are one of the few developers who start projects and see them through to completion,” he said. “Our clients’ satisfaction has been a strong factor in us receiving this award.”
The firm operates on three principles: innovation, competitive pricing and strategic location. Its projects are positioned in prime areas with accessible infrastructure and free of title disputes.
“We carefully select prime locations with excellent accessibility, free of encumbrances or title issues,” Oparinde explained. “Unlike many developers who make promises they can’t fulfil, we consistently deliver, and that sets us apart.”
Economic pressures: inflation, exchange rates and material costs
Rising inflation and foreign exchange volatility have pushed up construction costs. NBS reported inflation at 34.2% in July 2025, while the removal of fuel subsidies and a weaker naira have increased costs by over 40% in some regions.
Oparinde acknowledged that reduced purchasing power remains a major hurdle for homebuyers.
“Reduced purchasing power is one of the biggest challenges,” he said. “We address this by offering tailored projects, flexible payment plans, and the option for clients to pay based on the finishing they can afford.”
This model, he said, opens opportunities for middle-income Nigerians who are often excluded from home ownership.
Key projects: Seasons Apartments and Katampe delivery
Among the firm’s key developments is the Seasons Apartments in Kado, designed as a hospitality facility. For the last three years, it has generated stable monthly returns for investors.
“Our clients have received steady monthly returns with transparent performance reports,” Oparinde said. “They are happy not only with the returns but also with how the facility is managed.”
Another project in Katampe, near Aso Radio, was delivered ahead of schedule, despite being initially set for an 18-month timeline.
“Our clients were extremely happy with the outcome,” he said.
Short-lets and flexible payment plans as a response
The company has also adjusted its strategy to meet changing consumer behaviour. Short-let apartments, increasingly popular among young professionals and investors seeking regular income, are now part of its portfolio.
“These products appeal to younger buyers who prefer properties that generate steady income while retaining long-term value,” Oparinde explained.
Outlook: expansion plans for 2026
Drekford plans to broaden its reach and increase the number of Nigerians who can access housing. For 2026, its focus is on expansion and sustaining delivery.
“This award inspires us to work even harder,” Oparinde said. “Our goal is to continue satisfying our clients, create more homeowners, and expand our portfolio of successful projects.”
Asked what advice he would give to other developers, Oparinde responded:
“Always keep your clients at the forefront. Focus on satisfying them, and success will naturally follow.”
Publication: BusinessDay
