Nigeria’s popular real estate company, Revolutionplus Property Company Limited, has cleared the air about it’s ongoing project on Orchid Road in Lekki, called Flourish Apartments and Terraces.

The project, one of the largest property developments in the area, began a few years ago and has now reached the final stage of completion. Although there have been delays due to sharp inflation and exchange rate fluctuations, these have been major factors for the setbacks.

The firm’s Managing Director of the company, Dr. Bamidele Onalaja, who spoke at the site of Flourish Apartments and Terraces, on Orchid road, Lekki, Lagos about the delays and the nearing completion of the project, said: “What really happened is that, when we started selling these property a few years ago, we were pricing them based on the Naira to Dollar exchange rate, but we encountered problems immediately foreign exchange rates increased. We couldn’t buy cement, which was selling at around 3,000 Naira then but has now risen to about 11,000 Naira. We also faced issues with fittings and many other materials affected by forex, ” he explained.

Speaking on why there is a delay in the project, he said he made an effort to contact some of the subscribers who have paid. “Yes, we contacted many of them, explained what happened, and how they can help. Some of them understood and added more money to their initial payments, but we have some subscribers who are not even willing to listen to our complaints. We tried every means, but they refused. What we proposed to our subscribers was that they add more money to their initial payments or we refund them,” he stated.

He also revealed that the property has tied down the company’s funds, but the project will be delivered to the subscribers this year without fail.

Onalaja said: “I am committed to finishing the project within three to four months. There are still up to 30 units in the estate that haven’t been sold, while the subscribers who have fully paid the original agreed price have their units reserved by the company. But to enjoy the beautiful estate, you have to pay in full and abide by the terms of payment. I am in Lagos currently and working toward the completion of the estate contrary to some rumours that I have relocated to the United States.”

He said the company’s numerous investments and contributions to Nigeria’s GDP growth make it difficult for him to leave Nigeria. “We implore our subscribers to be patient with us and work with us to achieve the desired outcome,” he said.

The estate (Flourish Apartments and Terraces) is a premium residential development offering a mix of luxury flats and duplexes designed for modern living.

The company was built on providing affordable homes and offering flexible payment options (often requiring an initial deposit with the balance spread over 12 to 18 months). This approach was also applied to this property, but property prices are subject to market changes.