As part of its efforts to accelerate the development of its smart city project, Metrospeed, a leading real estate development company, has officially signed a deal with Geoplex Drillteq Limited, an indigenous oil and gas servicing firm, to deliver smart housing solutions for Geoplex employees.
The contract signing ceremony took place on Tuesday at Geoplex’s headquarters in Victoria Island, Lagos.
Speaking at the event, Col. Dele Oyefuga (Rtd), the Chief Executive Officer of Metrospeed Group, said he’s excited about his company’s ‘strategic partnership’ with Geoplex, adding that the development would ensure speedy delivery of Metrospeed’s smart city project.
With its recent partnerships with ExxonMobil, Chevron, and Huawei, Oyefuga said Metrospeed is redefining estate living in Nigeria.
“We are building an estate that will speak to you. An estate, where you can walk freely in the middle of the night to do whatever you want to do knowing fully well that you’re secured in the environment,” he said.
According to him, the smart city project located in the Lekki area of Lagos State will be completed within two years.
“Phase one will be completed by the end of this year, and then, phase two will be completed by the end of 2026. We under-promise so that we can over deliver. We have given our partnership 2027 but we hope to finish 2026 and right now, we are ahead of time,” Oyefuga explained.
Also speaking to journalists after the signing of the contract, the Geoplex CEO, Engr. Wole Ogunsanya lauded the collaboration as a timely and strategic move, saying the partnership is based on trust, professionalism, and a shared commitment to quality.
Explaining why Geoplex chose the real estate company as its investment partner, Ogunsanya said, “Metrospeed stood out among the many options we considered, and we are excited about this relationship built on trust and professionalism. The Metro Smart City is an ideal location with high-quality infrastructure and amenities.”
Ogunsanya stated that the employees’ welfare remains a core priority for the indigenous company, emphasizing that the company’s decision to partner with Metrospeed is centered on its employees’ well-being.
“When our people are doing well, when their welfare is taken care of, and their health, then we know that they will be there to deliver as good as they can accomplish. So, it’s a new initiative. The idea we’ve had for so many years is to ensure that we have a cooperative organization within Geoplex that will allow us to empower us in real estate. We all know in this country, when you look at the statistics, there is huge shortage of real estate accommodation for Nigerians.” he said.
He further praised the leadership and integrity of Metrospeed, adding that Geoplex is “very bold and aggressive” about the project, which aligns with its long-term vision of employee empowerment through real estate ownership.
In her remarks, Emike Ntiokiet, Head of Sales & Marketing at Metrospeed Group, described the partnership between the real estate and service firms as the beginning of greater things for both companies.
She said, “The partnership today is one that gives us a lot of excitement, mainly because it’s a testament to the vision we have in place for our commercial smart city and the actualization of this vision. So Geoplex is one of the recent partners we’ve secured, and we know that this is the beginning of greater things.”
Ntiokiet assured that investments in Metrospeed’s smart city project guarantee exceptional returns on investments.
“What we have here is the future of smarter urban environment secured in the heart of Lekki Phase One. It’s a prime location, it’s prime land, and it is competitive, looking at what we have in the environment,” she said.
Highlighting the unique features that set the smart city apart from other real estate developments in Nigeria, Ntiokiet stated that the project spans 97 hectares and is fully integrated with smart technologies.
