In a major boost to Nigeria’s real estate and smart infrastructure sector, Metrospeed Property Development Limited has signed a landmark partnership with Chevron Employees Multipurpose Cooperative Society (CEMCS) to fast-track the development of the highly anticipated Metro Smart City project in Lagos.
The partnership, according to a statement was formalized recently in Lagos. This strategic alliance marks a significant step in transforming Lagos into a modern urban hub through innovation, sustainability, and integrated smart living.
Metro Smart City is a bold urban development initiative by Metrospeed, with land reclamation and infrastructure works handled by global construction giant China Civil Engineering Construction Corporation Ltd (CCECC). The project envisions a thriving ecosystem featuring five distinct districts: a technology hub, a waterfront community, a residential area, a business zone, and a leisure and entertainment district.
CEMCS President, Princewill Hope said the cooperative’s members are excited about the development and emphasized their confidence in the project, citing strong capital preservation and attractive long-term returns.
“Looking at the pedigree of Metrospeed and infrastructure partners like CCECC, we’re confident this investment is both secure and profitable. It aligns with our vision of long-term wealth creation for our members. We are confident that this is going to return good income and that is why we had no reservation when we were going into this partnership,” he said in the statement
Dele Oyefuga, CEO of Metrospeed Group, said he’s excited about the company’s partnership with Chevron employees cooperative society, citing their extensive experience in real estate investment.
He also highlighted the importance of the partnership in accelerating project timelines:
“Chevron’s involvement helps unlock funding that will speed up development. “We have already divided the project into two phases. Phase one will be completed with the reclamation of land by the end of this year. Once we complete this, we’ll begin construction, starting with roads and drainages and then we move onto other infrastructure such as fiber optics, security, all these ones will start at the end of the year,” Oyefuga said.
Emike Ntiokiet, Head of Sales & Marketing at Metrospeed, described the partnership as a game-changer: “Chevron’s investment is more than capital; it’s credibility. It boosts investor confidence and ensures our alignment with global smart city standards.”
Ntiokiet also reiterated the company’s commitment to accessibility: “While Metro Smart City is premium, we’re creating flexible payment plans so everyday Nigerians can own a piece of the future. It’s not just about exclusivity—it’s about inclusive urban growth.”
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Autor(en)/Author(s): Daniel Obi
Quelle/Source: Business Day, 08.06.2025
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