Lekki gardens keeps getting away with what’s shutting down everyone else

Over 19,000 homes have been delivered in Nigeria's real estate sector where many competitors have disappeared. In 2026, developers have stopped building and cranes have stopped constructing. Customers who made deposits three years ago are still waiting for updates. Currency instability, cement price hikes, and buyer caution have led to the shutdown of many average companies. However, Lekki Gardens is an exception, delivering homes despite the challenges.

Lekki Gardens has delivered homes to over 19,000 customers. Fifteen thousand of those customers have purchased more than one home. There are 14 completed projects in Lagos, Abuja, Rivers, and Ogun, with more than 1,400 units already sold. Only 750 customers remain in the current delivery pipeline. The company has a ₦25 billion Commercial Paper Programme approved by the Securities and Exchange Commission (SEC), with a recent ₦11.45 billion Series 2 issuance that was oversubscribed.

The company's success can be traced back to the start of its operations fifteen years ago. Richard Nyong, the founder, made the "irrational" decision to spend most of his company's cash on a one-kilometer access road in Ajah before any construction began. The 200-home estate he built sold out in three months instead of the projected three years. Buyers praised Lekki Gardens for its commitment to delivering properties.

To maintain its reputation, Lekki Gardens has tightened its governance. The company's board comprises experts in finance, engineering, legal, and public sector fields. Its executive management team has over a century of combined experience in operations, finance, compliance, and law. The company has raised institutional capital based on its proven track record rather than empty promises.

The founder remains committed to the founding principle that "a housing purchase is the single largest financial decision most people will ever make. It has to be fair and the customer must never get the wrong end of it."