Olawale Opayinka reveals how Eko Atlantic financial model was built
Founder and Managing Director of Makaya Consult FZE, Olawale Opayinka, has disclosed that he was brought in as far back as 2011 to develop... The post Olawale Opayinka reveals how Eko Atlantic financial model was built appeared first on Nairametrics .
Olawale Opayinka, founder of Makaya Consult FZE, revealed his role in creating the financial model for Eko Atlantic City in 2011. The project, a planned coastal city built on reclaimed land adjacent to Victoria Island in Lagos, Nigeria, began as an expanse of ocean. Opayinka, an actuarial scientist, used his expertise to quantify uncertainty and project long-term outcomes, becoming the first Black consultant to establish an actuarial consulting firm in the UK.
He cautioned that Nigeria's population, quadrupling over the last 50 years, could see a doubling in Lagos within 15 years, presenting both challenges and opportunities. Describing Nigeria as uniquely permissive for entrepreneurship, Opayinka highlighted how this freedom enabled various ventures, from street trading to billion-dollar refineries, allowing Nigerians to attribute their economic success to their own efforts rather than external factors.
He proposed a framework for Nigeria's social structure, grouping citizens into four life-stage categories to foster national unity. Eko Atlantic, known for its modern infrastructure, luxury residences, and advanced drainage systems, has become the most premium address in Lagos, with a 59.5% sales growth rate over the last five years and an average daily rate of N325,000 for a 2-bedroom shortlet apartment in 2025.
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