Lagos Build Invest Company Reports 43% Profit Increase

Lagos Build Invest Company PLC announced a 43% increase in profit before tax, reaching ₦1.65 billion for the 2025 financial year, compared to ₦1.16 billion in the previous year. The mortgage lender's loan portfolio expanded from ₦794 million in 2024 to ₦2.07 billion in 2025, with no impairments recorded, highlighting improved asset quality amid a challenging operational environment.

Financial indicators showed strong performance, with gross earnings rising by 41% to ₦3.56 billion and customer deposits increasing by 17% to ₦13.31 billion. Total assets stood at ₦20.61 billion, and shareholder funds closed at ₦5.43 billion.

Chairman Hakeem Oguniran attributed the results to the company's focus on core mortgage operations and strategic partnerships within Lagos State. Managing Director Olusola Faley emphasized the company's commitment to sustaining its dividend policy and strengthening its capital base.

Lagos State Commissioner for Housing Moruf Akinderu Fatai commended the company's performance and urged continued collaboration to address housing challenges.