What Kills Business in Estate Development, Sir K Oluwo

By Patience Ogbo/

Chief Kamaroudeen Lamina, an accomplished estate developer has pinpointed the landmines in his field of business and the challenges in property investment in Nigeria.

Chief Lamina popularly known as Sir K. Oluwo, who is the Director of Olamina Global Ventures Limited, expressed sadness over the hardship that land buyers and estate developers face while reacting to some media reports describing him as a land grabber.

Debunking the report which alleged that he mobilized thugs and forcefully took over Itapara Village, Ogijo Sagamu in Ogun State, Chief Lamina said, “I am not a land grabber. I am the Director of Olamina Global Ventures Limited. We are into estate management, buying landed property, vehicle purchase and hotel management. We carry out proper investigation before buying and we get our receipt.

“In this particular case, I bought 20 hectares of land from the Salu Apesi family in 2013 for N15million. We have sold all the land. People have built on the land and are living there. There is no vacant land in there, so I am surprised someone is calling me a land grabber.

“It was after I bought the land that I learnt there is a court case on that land between the Afariogun family and the Salu Apesi family. That case is at the Appeal Court in Ibadan but some persons instead of waiting for the judgment of the appeal court decided to take the law into their hands by hiring thugs with dangerous weapons to attack the people residing on that land and the police have arraigned them in court. So how am I a land grabber?

“I have several lands I bought and developed. It is sad that this is the problem we face in this business. When you want to buy a landed property, you can meet with four family heads but as soon as you pay them, groups will come up and start making a problem and you will end up paying two or three times for the land. This kills business in estate development.”