EXCLUSIVE! Labo Group CEO, Olabisi Akanbi Unveils His Ongoing Project ‘LAFAITH ESTATE And RESORT’ In Lekki

Mr. Olabisi Akanbi, the president and founder of Lafaith Property Ltd and one of the emerging civil construction companies in Lagos has been a key participant in property market boom in Lagos today.  Also, note that the story of the property market in Lagos cannot be told today without stating his immense strides behind the emerging market boom of the industry in the commercial nerve center of the country.

 

In an exclusive interview with News Rain Nigeria, he spoke about his journey so far as an investor, his ongoing project LaFaith Estate And Resort in Lakki, amongst other issues. Enjoy

Labo Group CEO, Olabisi Akanbi Unveils His Ongoing Project ‘LAFAITH ESTATE And RESORT’ In Lekki

 

You are not a politician, how do you feel about a political oriented platform giving an award to you as an entrepreneur. Does that say you are in politics?

I don’t have an interest in politics; the group that presented the award are youths, so I think it’s just a way of them appreciating me as a youth showing love to fellow youths.

Can we then assume that being politically appreciated do we foresee you any time in politics?

No. I’m just doing everything to give back to society. And I created LABO foundation to help the less privileged in our society. Many youths have talent but don’t have a platform to showcase it. So a person like me can easily help them to showcase it with the help of LABO foundation. I believe we are one, so I just have to help in any way I can.

Humility is one of your greatest virtue, was it inherited or bred?

I will say it was inherited. I know my dad as the most humble person, so I learn from him. Back then, when we were very young if an ant bites him, he is ready to prostrate.

So being humble goes a long way because you don’t know who you will meet on your way to success.

Can you tell us more about Labo Groups?
LABO Group has a lot of subsidiaries which are Real Estate, Automobile, Entertainment and Foundation, its a front line marketing company.

LABO Autos deals in different kinds of cars and we have been operating for five years now. And same under LABO groups we have LAFAITH properties which deal in real estate and we have been operating it for seven years.

We have been able to do lots of projects both in Lagos and Abuja. Currently, we have a bigger project at hand in lekki, it is called’ LAFAITH ESTATE and RESORT’ because part of the estate is facing the sea.

LABO Entertainment has been there even before the formation of the group. It’s over a decade and we are trying to showcase talented individuals. Under LABO Entertainment we have Dotman, who is our superstar, and his album is coming out on the 5^th of February and he has a lot of hits on it.  More so, we have DJ Tough among others.

As a successful businessman, what would you say inspired you into investing?

Right from my childhood, they know I love business a lot.  I use my saving money to buy a bicycle which I rent out and before you know I had like 5 to 6 more. I also had a video game center. So that was how my journey as an investor started.

Have you worked with any company before?
Yes, I have. I worked with an event company as their event manager before I left for school in London.

What were the challenges of combining all the businesses together?

When I started the entertainment outfit that was around 2003-2004,  I had a lot of challenges and I felt it’s just the way of coming up, but presently, I know how to manage the challenges.

What I believed in business is that there’s no way you will not have challenges. Just be focused on the goals, visions and keep going. We have challenges but we stood strong.

Looking at all your investments so far, would you say you had a godfather who supported you in getting to where you are today?

No, I don’t, the truth is if you calculate how long I have been doing those businesses, you will realize that the journey has been a long journey. And like I usually say a Rome is not built in a day, it’s through a gradual process.  Before I got to where I am today, I started somewhere which was working for somebody. It’s just the hustle that pays for me. In Nigeria, I worked, even in London, I worked as well.

So I don’t have any godfather except God.

When and why did you start the NGO?
We started a year ago. That was when I felt the need to help people and appreciate them in my life.

So far, what would you say is your strength?

I usually say in Labo group, in terms of our strength and weakness we have been using swart analysis which means we have been able to know our opportunities from our weakness. So when you know the two you work with all your strength so it helps you to know when to act. Our strength is we are able to satisfy our customers.

Talking about LAFAITH properties estate, is it affordable for every Nigerian citizen?

The estate will be affordable for everyone that was why we have different standards. In the same estate, we have 3 bedroom duplex, 4 bedroom duplex, we even have a two-bedroom duplex. And we have flats. If you cannot afford a duplex, you can go for flats and you can pay in installments.

What would you say are the lessons you have learned so far as an investor, and what advice do you have for someone aspiring to go into the business?

I have learned a lot about property investment, and I am still learning.

The advice I have for anyone planning to go into property investment is to know his or her budget and know the kind of people you are working with because there are a lot of fake people out there. Even people you employ as workers will rip you off your money along the way. And if you know you want to go into property investment it is very easy for you to make friends with somebody that is into the business already.