Sanwo-Olu and Nola Launch Oyster Towers in Eko Atlantic City
Lagos State Governor Babajide Sanwo-Olu has officially initiated the construction of Oyster Towers, a high-end residential development in Eko Atlantic City. The groundbreaking ceremony, held on Thursday, March 26, 2026, marks a significant collaboration between Veritasi Homes and Properties Plc and the Cooperative Investment and Thrift Society Limited (COOPLAG). This multi-million-dollar project is set to transform urban living in one of Lagos's most exclusive areas.
Project Details and Amenities
The Oyster Towers will rise 22 stories on a prime plot spanning 2,091 square metres. It will feature 82 luxury apartments and penthouses, designed to offer premium amenities. Residents can expect a swimming pool, spa, sauna, gym, arcade games, squash court, a dedicated restaurant, landscaped grounds, and secure parking facilities. This development aims to set new standards for luxury living in Lagos.
Governor Sanwo-Olu's Commendation
During the ceremony, Governor Sanwo-Olu praised Veritasi Homes and COOPLAG for their initiative and track record in the real estate sector. He highlighted their resilience, commitment, and strong pedigree, expressing pride in being associated with both organizations. "This development reflects the steady growth we are seeing in Lagos, particularly in areas like Eko Atlantic that continue to attract strong investment," Sanwo-Olu stated. He added that projects like Oyster Towers enhance Lagos's development, especially given its proximity to the Lagos-Calabar Coastal Highway, and commended the young visionaries behind Veritasi for their intelligence and dedication.
Veritasi Homes' Milestone and Achievements
Nola Adetola, CEO of Veritasi Homes, described the project as a major milestone in the company's journey. "Today, we are not just breaking ground. We are marking a milestone in a journey that began with a simple but powerful conviction: that real estate in Nigeria could be done better," Adetola said. He emphasized that Veritasi focuses on building communities, not just structures, and highlighted the company's achievements:
- Over ₦500 billion in assets created
- More than ₦200 billion in capital gains for investors
- Over 1,000 housing units constructed
- More than 2,000 jobs generated
Adetola noted that Veritasi operates across the entire real estate value chain, with projects like Itunu City, Camberwall series, Tinuola Towers in Banana Island, Allied Towers in Ikoyi, Malibu Hills in Asokoro, and Arámidẹ́ in Ibeju-Lekki. The company has built a network of over 6,000 realtors and served more than 2,500 clients globally, while maintaining strong financial credibility through commercial paper programmes and bond issuances.
Partnership and Future Vision
Tobi Yusuff, Partner at Veritasi Homes, described the groundbreaking as a transition from vision to reality, thanking COOPLAG for their trust. "What we are gathered here to mark is not merely the breaking of ground. It is the beginning of something permanent," Yusuff remarked. He assured subscribers and investors that the project would deliver on its promises, emphasizing the rare faith shown by early believers.
Francis Adeoye, President of COOPLAG, highlighted the project as a symbol of strategic investment and collaboration. "Oyster Towers reflects COOPLAG's mission to create long-term value for its members while contributing to sustainable urban development," Adeoye said. He praised Veritasi for their technical expertise and commitment to quality, noting that the project aims to blend functionality, aesthetics, and long-term value.
Strengthening Partnerships and Industry Recognition
Veritasi Homes and COOPLAG have strengthened their partnership in recent years, with previous projects like Allied Towers in Ikoyi launched in September 2025. Veritasi has been recognized by the Financial Times as one of Africa's fastest-growing companies, the only Nigerian real estate firm on the list. The company has delivered over 1,000 homes, launched 12 major projects across Lagos and Abuja, and holds strong credit ratings from DataPro and Global Credit Ratings (GCR), underscoring its financial strength and dedication to world-class developments.
