akaa_ng, #12B, Adeshina Street, off Ezekiel Street, Lagos, Ikeja (2026)

06/04/2026

Two regimes. One firm valuing through both. 📊

In 2025, the Termex Building valuation reflected a market trapped by FX illiquidity and material uncertainty. It was a passive, macro-dependent bet with compressed USD-equivalent values.

By Q1 2026, the landscape had shifted when we valued the Nikki Africana Building on Allen Avenue, Ikeja—a Grade B office asset. Naira stabilizing. Inflation is falling. Uncertainty reducing.

🔍In our valuations, we uncovered a dramatic disconnect between in-place rents and true market potential. Termex (2025) was a passive bet on macro recovery. Nikki Africana (2026) is an active play on manufactured alpha.

Want to see exactly what we found?

📩 DM us for a confidential, data-driven valuation of your asset—whether in a stabilizing market or still navigating uncertainty.

As uncertainty reduces, opportunity clarifies. Let's find yours. 🚀

Read more

https://lnkd.in/ecFkdDa

LagosPropertyMarket IVS TheGreenBook NVS NIESV ESVARBON RICS FlightToQuality GradeBOffices ValuationExperts ManufacturedAlpha ValuationMatters ReducedUncertainty akinropoABRAHAM

19/03/2026

🌍 The ₦92.6 billion Green Value Premium: Nigeria's Office Market 2026

Not all real estate is created equal. Buildings like the Trinity Towers, the Wings Complex, Sterling Towers, Infracredit Office Building, Heritage Place, Alliance Place, Atlantic House, Afreximbank Headquarters, and Access Tower are not just standing tall. They are demonstrating what is possible when high-performance glazing, efficient HVAC, and intelligent building management systems come together.

Each of these buildings have built toward one inevitable conclusion: Sustainability and ESG are no longer side conversations.

Let us look at where the value actually lives. The office sector is leading the charge. According to 's Green Office Market Report 2026, the office sector leads Nigeria's green certification drive, with an estimated 350,000 square metres of certified space.

Metric Value

1. Certified office floor area: 350,000 m²
2. Annual OpEx savings per m²: ₦22,500
3. Total annual office sector savings: ₦7,875,000,000
4. Capitalized Value: ₦92,647,058,824

That's ₦92.6 billion—from operational savings alone. Not rental premiums. Not tax incentives. Not yield compression. Not carbon revenue.

As the market moves toward absolute emissions disclosure and verifiable efficiency gains, the ability to command reasonable rentals will increasingly favour green-certified assets. That leaves non-green assets at the mercy of two relentless forces: obsolescence and regulation.

Read more at 👇👇👇 https://lnkd.in/dvSRDCQJ

#₦92BillionQuestion

14/03/2026

Green Building Metrics 2026: Turning Data Into Value

The era of viewing sustainability as a "niche aspiration" is over. Across Nigeria, Africa, and the globe, ESG (Environmental, Social, and Governance) has become the primary driver of asset performance, risk management, and capital allocation.

The global and regional momentum indicate the global green building market is on a massive trajectory, projected to grow from $702.54 billion in 2026 to $958.68 billion by 2030. This growth is fueled by three unstoppable forces: regulatory pressure, tenant demand, and the undeniable economics of efficiency. Showing:

The global benchmark for sustainable assets sees 13% lower operating costs for new builds and 9% for retrofits.

On the other hand, the African shift—brown-to-green strategies and upgrading existing assets—is proving to be the most scalable route to resilience. Success stories like the Ibis Styles Abidjan Plateau and Access Towers in Lagos (EDGE certified) demonstrate that retrofitting preserves long-term profitability and prevents asset stranding.

The data provided by akinABRAHAM & ASSOCIATES LTD proves that green building in Nigeria is a high-yield reality. With over 800,000 m² of certified space already in-country, the financial impact is measurable—https://lnkd.in/dGK4zHmS. Having:

Metric Value
Total Certified Space: 800,000+ m²
Annual OpEx Savings: ₦22,500 ($14.50) per m²
Total National Annual Savings: ₦18 Billion ($11.6 Million)
Capitalized Value
(at 8.5% Cap Rate): ₦384 Billion ($247 Million)

This ₦384 billion represents only operational savings. When all sustainability layers are applied, the total adjusted portfolio value in Nigeria rises to an estimated ₦430 billion ($277 million).

As the market demands for sustainable green buildings continue to be on the rise, Nigerian , , , and can no longer plead a lack of data, a proven framework, or methodology. Every kilowatt saved and every tonne of carbon not emitted must be accounted for in the income statement waiting to be written into the balance sheet.

Read more at
https://lnkd.in/dGK4zHmS

10/03/2026

The ₦384 Billion Question

For over two decades in the profession, I have watched Nigerian real estate evolve through booms, busts, and everything in between. But nothing—and I mean nothing—has fundamentally reshaped asset economics quite like the sustainability revolution unfolding before us.

The numbers have grown too big to ignore. With over 800,000 square metres of green-certified space across Nigeria's commercial, residential, retail, and mixed-use sectors, we have reached a critical mass that demands a fundamental rethink of how we value green and non-green real estate.

This year, at akinABRAHAM & ASSOCIATES LTD we put a concrete figure on something that has remained frustratingly abstract for too long: the capitalized value of operational savings. Not rental premiums, not sales premiums, not emissions savings, not tax incentives, not yield compression—just the hard, recurring, bankable savings from using less energy, less water, and materials.

In 2023, akinABRAHAM & ASSOCIATES LTD's Green Office Market Report established a robust benchmark for the green-certified buildings in Nigeria, delivering ₦17,059 ($11.00) per square metre in annual operational savings compared to conventional counterparts.

By 2026, with energy tariffs rising by over 300% for Band A customers and diesel prices persistently above ₦1,100 ($0.71) per litre, that figure has adjusted upward. Our recent market tracking now places the annual operational savings range at ₦20,000–₦25,000 ($12.90–$16.10) per square metre annually—with variations for office, residential, retail, and mixed-use typologies.

For this analysis, using a conservative midpoint of ₦22,500 ($14.50) per square metre for annual operational savings across certified space and applying an 8.5% capitalization rate—reflecting the yield compression that sustainability credentials now command—the capitalized value of operational savings alone reaches ₦384 billion ($247 million).

To request the full report or discuss your portfolio's sustainable valuation, contact us at [email protected] or at +234-806-877-4629.

https://lnkd.in/dGK4zHmS

05/03/2026

Green Buildings: Promise vs. Performance – What's the Reality in Nigeria?

In 2023, we asked if green buildings had delivered. https://lnkd.in/dWzBmPFk

Fast forward to 2026, and the narrative has shifted.

The question is no longer whether sustainable green buildings have lived up to expectations—but how measurably they are driving rental premiums, sale values, operational savings, carbon reductions, and net operating income. More importantly, how these gains are being written into balance sheets and strengthening asset values.

New data from akinABRAHAM & ASSOCIATES confirms Nigeria's green office market has exceeded all 2023 expectations. By 2026, key metrics show exceptional gains:

📊 Entry price premium: 35–50%
🔑 Rental premium: 8–12%
💹 Annual appreciation: 12–20%
💧 Water savings: 30–40%
📉 Cap rate compression: 7.5–8.5%
💰 Opex savings: ₦20k–25k/m²
🏢 Market value/m²: ₦4.5m–7.5m
🌱 Certified space: 800,000m²
🌍 Carbon savings: 13,772 tCO₂/year (+72%)

As the market moves toward absolute disclosure of these gains in valuation data, valuers must now treat them as critical factors affecting materiality, obsolescence, and regulatory risk. Transparency drives the polarization between green assets—which attract capital and tenants—and brown assets facing obsolescence.

With landmark projects like Afreximbank LEED Platinum AATC Trinity Towers, the Heritage Towers, Alliance Place, the Wings Office Complex, Alpha One, Access Tower's EDGE retrofit demonstrate that world-class sustainability is achievable in Nigeria.

Read more: https://lnkd.in/du6XBtwA

For us, at , we see sustainability metrics beyond environmental lens. Our commercial real estate strategic valuation and asset performance advisory capitalizes sustainability-driven NOI into enhanced asset valuations, please contact:

📧 [email protected]
🌐 www.akaa-ng.com
📞 +234-806-877-4629

21/02/2026

🌱 Valuing Sustainability: The NGN 3.5 billion hidden inside Trinity Towers' 118.55 tonnes of annual CO₂ savings proves sustainability pays.

The recent EDGE Certification achievement of RCCG's Trinity Towers—a landmark 14-story tri-tower commercial complex in Victoria Island, Lagos—signals a definitive market shift, as Nigeria's real estate landscape is undergoing a profound shift, driven by the rising global emphasis on Environmental, Social, and Governance (ESG) standards, increasing corporate sustainability commitments, and ambitious climate goals.

Despite the Finance Corporation's projection that Nigeria's green building market could reach $3 billion by 2030, the majority of these assets have yet to fully incorporate sustainability benefits—in terms of financial gains, including mitigation strategies for both obsolescence and regulatory risks—into the worth of green-certified buildings, directly affecting the recognition and capture of investment flows, development gains, operational priorities, and needs assessments across the sector.

The EDGE certification of Trinity Towers, as announced by , delivered verified performance metrics of 118.55 tCO₂ annual savings, 452.40 tCO₂ annual operational emissions, 22% energy savings, 70% water savings, and 75% embodied carbon reduction—transforming environmental achievements into financial facts that materially enhance asset value, operational resilience, and strategic positioning.

Since the sustainability advantage of Trinity Towers was shared, the market has consistently asked: What is the contribution of 118.55 tCO₂ annual savings, 452.40 tCO₂ operational emissions, and other green gains to its operational performance, market fundamentals, and ?

From a strategic valuation and asset management perspective, achieving 118.55 tCO₂ annual savings justifies the Gross Present Value increased to NGN 48.7 billion—from a conventional valuation of NGN 45.2 billion—reflecting a 7.7% premium attributable to
operational efficiency, amongst others.

Find out more from the slides.

01/02/2026

From Who Will Save? to Who Will Steward?

While preparing for the day's work on January 22, 2026, a compelling headline from 's online magazine cut through my morning's information flow: Who will save Maryland Mall?

The article offered a poignant, first-hand account from a Nigerian returnee visiting Purple Maryland Mall in Ikeja, Lagos. It detailed a stark contrast—a trophy asset battling visible operational decay, where failed escalators, an unventilated cinema, and a discontinued parking system told a story of institutional decline that moved the observer to tears.

While this narrative rightly sparks concern and reflects a broader issue of operational failure and value erosion in assets under receivership, it also inadvertently maps the precise opportunity. The distress is not existential but operational, as it transforms the public story of decay into a private, calculable investment thesis for the capital partner with the vision to execute.

Examining the visitor's grief—for what was built and what has slipped—is understandable. However, this emotion obscures a clear value proposition, as the reported failures are not impairments to the asset's core value. Infact, the identifiable drivers contribute to its current discount and the explicit source of its projected premium returns.

From asset valuation and strategic advisory perspective, here are what the narrative of decay translates to in investment terms:

1. The Operational Gap = Immediate NOI Uplift

2. Deferred Capex = Negotiation Leverage & Direct ROI

3. The Unchanged Fundamentals = The Foundation for Value

From all indications, the story of is not a tragedy. It requires a steward, who sees the opportunity defined by its operational and managerial shortcomings, not fundamental flaws in its prime location or structural integrity.

For detailed investment advisory regarding this opportunity, please contact us at:

📧 [email protected]
📞 +234-806-877-4629
🌐 www.akaa-ng.com

08/01/2026

Toronto’s 9.5% Hike vs. Lagos’s ₦1 Trillion Gap: Two Cities, One Truth About Paying for Urban Life

For over two decades, the Lagos State Land Use Charge has been a cornerstone of its revenue, yet its yield has been a slow, incremental climb—from mere billions in the early 2000s to a projected ₦72.5 billion in 2025. The numbers tell a story of immense potential and profound underperformance.

The cumulative history stands in stark contrast to a recent, staggering revelation from Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, on fiscal truth that reframes our entire understanding of the city’s potential: with an effective, modern property tax system, the Lagos State Government could generate not tens of billions, but up to ₦1 trillion annually.

This is not just a revenue gap. It is a 2,000% chasm between current reality and achievable potential—a gaping shortfall that explains everything. It is the fundamental reason our streets flood, our public schools remain under-resourced, and our celebrated title of "Center of Excellence" feels less like a lived reality and more like an unfulfilled promise.

While historical collections show administrative progress, they pale against the scale of need and possibility. Bridging this chasm requires more than political will; it demands a systemic revolution in how we value, account for, and fund the very assets that make a city function. The journey from ₦50 billion to ₦1 trillion is the journey from a city that scrapes by to a city that truly thrives. The numbers are staggering—and they reveal everything wrong with how Nigeria’s richest city finances itself.

Want to read more on the lessons from Toronto and the path forward? Read the full article via the link.

https://lnkd.in/dyH5SNC7

01/01/2026

We are celebrating our very own akinropo ABRAHAM FNIVS, RSV, CGO Valuations & Capital Markets, on his well-deserved conferment as a Fellow of the Nigerian Institution of Estate Surveyors & Valuers (NIESV).

A huge congratulations, sir! Your elevation is a testament to your profound expertise, leadership, and immense contribution to the profession. We are incredibly proud.

https://lnkd.in/duFavDVR

28/12/2025

How the FRC's IAS 29 Update Resets Valuation Models, Discount Rates, and Financial Reports

The Financial Reporting Council of Nigeria (FRC) has determined Nigeria does not meet the criteria for hyperinflation under IAS 29—https://frcnigeria.gov.ng.

This FRC's update on IAS 29 has immediate and direct implications for estate surveyors and valuers conducting valuations for IFRS-compliant reporting (IAS 16, IAS 40, IFRS 13). The decision shifts focus back to core valuation fundamentals and observable market evidence, providing a stable reporting framework for Nigeria’s economy.

The key changes effectively reflect on:

- Methodology Shift: Valuations for IFRS purposes proceed under the standard historical cost or fair value model. All values are to be expressed in nominal Nigerian Naira at the valuation date.

- Core Impact on Models: Discount rates and cash flow projections in the income approach are now nominal. There is no mandated general inflation premium; instead, focus shifts to capturing asset-specific inflationary risks within cashflows and market-observed yields.

- Increased Stability and Comparability: The ruling reduces reporting complexity and litigation risk, ensuring greater consistency and reliability across valuations and financial statements.

But what does this mean in practice for your valuation approach under the FRC's Standard for Financial Reporting?

For the full details, visit the link: https://lnkd.in/dWwfrzt3

FINANCIAL REPORTING COUNCIL OF NIGERIA
Financial Reporting Council of Nigeria
NIESV National NIESV Abuja NIESV Lagos Branch
Accounting and Financial Reporting Council (AFRC)
The Institute of Chartered Accountants of Nigeria
CITN
Chartered Institute of Taxation of Nigeria UK district
ACCA
The Institute of Internal Auditors
The Chartered Institute of Bankers of Nigeria - CIBN
Chartered Institute of Loan and Risk Management of Nigeria
The Chartered Risk Management Institute of Nigeria (CRMI)

26/12/2025

Tinapa Edi Nnyin Ikọ – Nam Nnyin Daha. Tinapa is ours. Let us revive it.

Twelve years ago, I walked Tinapa's corridors. The bold vision of Nigeria’s first integrated free zone and resort was undeniable—but so was its ex*****on deficit.

By 2011, that promise was in receivership, erasing:
• ₦250 billion in asset value
• ₦84 billion in lost revenue
• 2,000+ job-years

Yet, its core value proposition stands unchallenged. Tinapa remains Nigeria's only asset combining a Free Trade Zone (tax holidays, 0% customs, full repatriation) with a built Tourism and MICE Infrastructure—all on 80 hectares of prime waterfront land.

Now, the pivot. Cross River State has reclaimed its crown jewel. Our decade of analysis reveals a clear recovery path:
• ₦125 billion recoverable over 5 years
• ₦8.5 billion in annual revenue potential
• 5,000+ sustainable jobs

The lesson is clear: Tinapa didn't fail as an asset—it failed from mismanagement and politics. Now, the revival requires professional ex*****on.

To Cross Riverian and fellow professionals:
We witnessed Lagos build billion-dollar assets (Alaro City and LADOL). Now, Tinapa needs:
• Estate Surveyors and Valuers to secure its worth
• Hospitality Experts to run it globally
• Finance and Legal Minds to structure and protect deals
• Marketing Strategists to rebrand its story

This is not a rescue mission. It is a strategic repositioning of a world-class asset currently priced at a 90% discount to its inherent value.

Continue reading: https://lnkd.in/eE-QY6Kd

akaa_ng

06/04/2026

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