Business
Afriland Properties Grows Revenue to ₦4.07bn, Assets Rise to ₦65bn
L-R: Olubunmi Akinremi, Independent Non-Executive Director; Ayodeji Adigun, Non-Executive Director; Agatha Obiekwugo, Non-Executive Director ; Azubike Emodi, Managing Director/Chief Executive Officer; Emmanuel Nnorom, Chairman, Board of Directors; Omomene Obanor, Company Secretary; Olukayode Odebiyi, Executive Director; Owen Omogiafo, Non-Executive Director; and Obong Idiong, Non-Executive Director, all of Afriland Properties Plc at the company’s 13th Annual General Meeting held today.
Afriland Properties Plc, a leading real estate development and management company, has announced its audited financial results for the year ended December 31, 2025, showcasing strong revenue growth, an expanded asset base, and sustained shareholder returns.
The results were presented to shareholders at the Company’s 13th Annual General Meeting.
For the period under review, the Company recorded revenue of ₦4.07 billion, representing an 8% increase from ₦3.75 billion in 2024.
Gross profit rose to ₦3.51 billion from ₦3.13 billion in the prior year, reflecting improved operational efficiency and disciplined cost management across key business lines. Profit Before Tax stood at ₦2.60 billion, compared to ₦3.70 billion in 2024.
Demonstrating continued balance sheet strength, the Company’s total assets grew by 33% to ₦65 billion, up from ₦48 billion in 2024. Shareholders’ funds also increased to ₦36.09 billion from ₦34.93 billion in the previous year.
In line with its commitment to shareholder value, the Board of Directors proposed a total dividend payout of ₦329.7 million, representin 24 kobo per ordinary share, comprising an interim dividend of 13 kobo per share already paid and a final dividend of 11 kobo per share. The dividend was approved by shareholders at the Annual General Meeting.
Commenting on the results, Chairman of the Board, Mr. Emmanuel Nnorom, pointed out that the Company’s 2025 performance reflects resilience, sound governance, and disciplined stewardship in a demanding operating environment.
He said, “We remained focused on protecting value, strengthening our asset base, and rewarding shareholders responsibly, while positioning the business to capture future opportunities across the real estate sector.”
Also speaking on the results, Managing Director/CEO, Mr Azubike Emodi, stated that the performance underscores the strength of the Company’s operating model and future growth potential.
“Afriland continued to make progress across development, facilities management, asset enhancement, and investment activities, while maintaining a strong focus on efficiency and value creation,” he said.
He added that the Company is entering a new phase of growth, supported by ongoing and upcoming projects across Lagos, Abuja, and other strategic markets, alongside the repositioning of underutilised assets to improve yield and long-term returns.
Looking ahead, the Company remains optimistic about opportunities within Nigeria’s real estate market, particularly across residential housing and mixed-use developments and commercial real estate. Afriland Properties Plc will continue to leverage innovation, strategic partnerships, and disciplined execution to deliver sustainable growth and lasting value for stakeholders.
About Afriland Properties Plc
Afriland Properties Plc is a property management, investment, and development company offering end-to-end services across the real estate value chain.
The Company is committed to improving lives through the development, management, and maintenance of world-class real estate assets across Africa. With one of the largest land banks in Nigeria and a growing portfolio of premium assets, Afriland continues to set the standard for professionalism and excellence within Nigeria’s real estate sector.
The post Afriland Properties Grows Revenue to ₦4.07bn, Assets Rise to ₦65bn appeared first on Business Today NG.
The Federal Capital Territory (FCT) Police Command has commenced a fresh operation targeting vehicles with illegal tinted windows, concealed number plates and improper registration across Abuja.
FCT Commissioner of Police Ahmed Muhammed Sanusi disclosed the development during a media briefing on Friday.
He said security reports indicated that criminal suspects often use such vehicles to avoid identification and carry out unlawful activities.
According to the police chief, cases of kidnapping and the notorious “one-chance” robberies have been linked to vehicles operating with hidden identities.
Sanusi noted that tinted windows and covered registration plates make it difficult for security agencies to track offenders and investigate crimes.
He stated that enforcement teams have already been deployed across the territory to ensure compliance with existing regulations.
The commissioner clarified that the exercise is aimed at motorists violating the law and not those with valid approvals for tinted glass.
He revealed that more than 30 vehicles have so far been impounded for breaching the regulations and that offenders would face prosecution.
Sanusi urged residents to report suspicious persons, vehicles and activities, stressing that the operation is part of broader efforts to improve security and curb crime in the nation’s capital.
The post FCT Police Launch Crackdown on Illegal Tinted Vehicles appeared first on Business Today NG.
Nigeria has received multiple funding offers from investors and institutional lenders, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
Speaking in an interview with Bloomberg TV, Mr Oyedele said the current market environment presents an opportunity for the country to refinance some of its existing debt while mobilising additional resources for development.
“We think that the timing is good for us to be able to maybe even refinance some of our expensive past debts, but also to raise more funding for our development at this critical time,” he said.
Responding to questions on whether Nigeria would pursue a Eurobond issuance or other commercial financing options, the minister said any decision would depend on prevailing market conditions, the amount of funding required and the speed at which the government intends to access the funds.
He noted that the country currently has several financing options available.
“We have a lot of offers, there is a lot of interest in Nigeria by investors, which is good for us,” Mr Oyedele said.
He added that Nigeria is also engaging with institutional lenders, including the African Finance Corporation (AFC), the African Development Bank (AfDB) and Afreximbank, alongside financing arrangements involving other countries.
“We have many options,” he noted.
ALSO READ: Nigeria eyes debt refinancing, fresh funding — Oyedele
Mr Oyedele explained that the government would carefully evaluate the cost, risks and suitability of available funding sources before deciding on the most appropriate financing strategy.
According to him, the objective is to ensure efficient use of resources while supporting the country’s development priorities.
“The goal is to get the best results from every dollar or every naira that we spend,” he said.
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