Edala Development Appoints Advisory Board to Strengthen Governance and Property Expansion

Edala Development has appointed an Advisory Board to guide its expansion in Nigeria’s property market, strengthen corporate governance and build investor confidence.

The company introduced the board during its Investor Summit, themed “From Vision to Value.” The event brought together investors, property professionals, business partners and other stakeholders to discuss investment opportunities and developments in the real estate sector.

The appointments form part of Edala Development’s efforts to establish a stronger institutional structure as it grows its residential, hospitality and commercial property portfolio.

The board comprises professionals whose experience spans investment, business development, strategic partnerships and academia.

Among the members is Gbenga Ademulegun, who brings experience in investment and strategic business management. Olalekan Awosanya contributes expertise in leadership, business development and strategic partnerships.

Professor Joseph Ezigbo also joins the board, bringing academic and professional perspectives to decision-making, innovation and sustainable development.

According to the company, the Advisory Board will provide guidance on major business decisions, investor relations and expansion plans. Its work will also support the development of a more structured platform for real estate investment.

Edala Development said the appointments reflect its commitment to building the organisational foundations needed for sustained growth.

Beyond the board’s introduction, the summit gave investors and partners an opportunity to review the company’s growth strategy and upcoming projects. Participants also received updates on investment opportunities emerging within Nigeria’s property market.

The company said it has been expanding its presence through projects in Lagos and Ibadan. It plans to grow its portfolio further while widening access to real estate investment opportunities.

Its leadership said creating lasting value for investors would remain a priority, alongside responding to demand across different property segments.

The new advisory structure is intended to support those ambitions by bringing additional professional experience into the company’s strategic planning and investment decisions.

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The Oyo State Housing Corporation has issued a stern warning to all allottees of undeveloped plots in Owode Housing Estate Phase II, Apata, Ibadan, urging them to commence development immediately or risk losing their lands. The directive comes amid concerns over rising estate insecurity in Oyo State.

The Corporation, led by Chairman Hon. Demola Omotosho, conducted a fact-finding mission to the estate after residents raised complaints that bushy, abandoned plots had become hideouts for criminals carrying out burglary, rape, and violent attacks.

Although the estate was inaugurated nearly 50 years ago, only 20% of it has been developed, leaving close to 1,000 hectares untouched. Omotosho said this neglect created an unsafe environment for residents who had developed their plots.

A recent violent attack on a 76-year-old resident prompted government intervention. Omotosho reminded allottees that the Oyo State Housing Corporation Law of 2001 allows revocation of plots not developed within two years or not fully paid within 12 months.

“These lands were allocated decades ago. Some allottees have held their papers for 25 years without developing the plots. The law is clear: undeveloped plots after two years are subject to revocation. We are not revoking out of sentiment—it is the law,” Omotosho said.

To boost security, the government will establish a Police Post, deploy Amotekun security, and install solar-powered streetlights across the estate. Significant development is expected before June 2026, with similar progress in Ajoda New Town, where 1,000 units are planned.

Residents, including Deacon Idowu Aladejobi, welcomed the move, noting that abandoned plots had facilitated criminal activities. He called for a permanent security presence, especially an Amotekun team.

Other residents expressed optimism that the inspection would mark the beginning of meaningful security and development interventions in the long-neglected estate.

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