Business

28m housing deficits: Peniel Investment, Development LLC brainstorm for solution

By Maduka Nweke

Peniel Investment and Development LLC, a US-based real estate investment powerhouse founded by Nigerian visionary, Mr. Ibukunoluwa Otinwa, is set to organise a groundbreaking US-Nigeria Real Estate Collaboration Conference and Exhibition. The pivotal event is slated to unfold in Texas, United States, in August 2024.

Nigeria currently grapples with a staggering housing deficit of 28 million units, requiring an astronomical N21 trillion to bridge the gap, as per expert estimates.  Recognising that the solution extends beyond governmental capacity, Mr. Otinwa’s initiative aims to empower citizens both at home and abroad to actively engage in resolving this critical issue.

The forthcoming five-day conference, exhibition, and business dinner promises to unite real estate investors, private investors, real estate developers, brokers, realtors, individuals, celebrities, and government dignitaries from both nations. Mr. Otinwa envisions the event to generate a substantial $500 million in transactions and investments, providing a catalyst for transformative change.

This immersive experience will include a comprehensive programme featuring a conference with distinguished speakers from the US and Nigeria, three exhibitions, an engaging business dinner night, and illuminating site tours.

“The US-Nigeria Real Estate Collaboration Conference and Exhibition 2024 represents a beacon of hope in addressing Nigeria’s housing crisis through international cooperation and shared commitment,” said Otinwa, even as he shed some light on the status of his organisation.

His words: “Our mission statement at Peniel Investment and Development LLC is to provide good real estate investment and development to every human being with respect to their social and ethnic backgrounds.

“On the other hand, our vision statement is to be a world-class real estate investment and development company by creating exclusive comfortable lifestyles for human beings, animals, and plants. In terms of our core values, we see the customers’ satisfaction as our happiness; we focus on solutions; we believe in teamwork; and we target greatness through continuous improvement.”

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