The PWAN Group, one of Nigeria’s leading real estate conglomerates has undergone a significant restructuring in its leadership and operational framework to enhance efficiency and drive sustainable growth.
In a landmark move, Dr Michael Okonkwo, previously Managing Director of PWAN Legend has been appointed as the Group Chairman, succeeding Dr Augustine Onwumere, the Co-founder. However, Onwumere retains his position as co-founder of the group. Dr Frederick Okpaje of PWAN Haven has also been named Group Vice Chairman.
Other key appointments include Dr Vera Oberabor as Group Executive Director of Corporate Communications, Dr Julius Oyedemi as Group Executive Director of Sales & Marketing, Dr Mike Akhuetie as Group Executive Director of Recruitment, and Dr Anthonia Abayomi as Group Executive Director of Finance.
The restructuring efforts will be spearheaded by the Group Managing Director (GMD) and Chief Executive Officer, Dr Jayne Onwumere, who retained the role. Speaking on the new changes, the GMD highlighted the importance of the restructuring, noting that it was essential for addressing pressing internal concerns and positioning PWAN Group for future growth.
“To ensure sustainable success, we must adapt,” she stated. She expressed confidence in the newly appointed leadership and urged directors and stakeholders to support the restructuring efforts. “We’ve grown to over 60 affiliate companies, and we’re expecting over 150 managing directors by next year,” she stated.
“I believe this team of directors will bring innovations. They are highly organised and determined to make a difference. I urge them to not only start but finish strong, as not everyone who starts finishes. This is a call to lead the group into a new season of better, stronger, and more structured organisation,” she added.
Okonkwo, who echoed these sentiments, pledged to address all outstanding issues, particularly those related to land allocation. He called on the affiliate companies to expand beyond land sales, stating that from next year, the company will mandate the construction of structures alongside land provision.
“PWAN Group has grown significantly, and our affiliate companies must start building. From next fiscal year, we will be known for delivering excellent buildings, not just lands,” Okonkwo stated. He also emphasised the importance of recruitment and urged the PWAN Business Owners (PBOs) to align with the group’s new goals, noting that the group is set to expand globally.
The new executive team has also developed a comprehensive five-year plan to tackle operational challenges, boost customer satisfaction, and consolidate the group’s leadership position in the real estate industry.
The restructuring followed the Directors’ Retreat held in Asaba, where the new leadership was unveiled. The co-founder Onwumere expressed his confidence in the new team, saying, “Working together, we will make significant progress.”
