Sujimoto Holdings Plans to Clear N40bn Debt by 2027

Dr. Sijibomi Ogundele, Founder and Group Managing Director of Sujimoto Holdings, revealed that the company aims to become debt-free by January 1, 2027, after repaying over N40 billion owed to banks and private lenders. He reflected on the challenges faced by the luxury real estate firm over the past 14 months, during which Sujimoto did not sell a single unit for nearly three years, despite incurring monthly overheads of about N126 million and operational commitments exceeding N500 million.

Ogundele attributed the financial strain to declining purchasing power, inflation, rising construction costs, currency volatility, and a challenging business environment. To sustain operations, he borrowed from various sources, including commercial banks, private lenders, friends, and family.

He emphasized the importance of managing debt responsibly and urged Nigerian entrepreneurs to avoid using borrowing as a substitute for sustainable cash flow. Ogundele expressed that the experience transformed his understanding of debt and risk management, positioning Sujimoto for better financial discipline and sustainable growth.