Metro Smart City, ExxonMobil Cooperative Partner On Tech-enabled Urban Devt Move

ExxonMobil Staff Cooperative Society Limited has signed an investment agreement with Metrospeed Property Development Limited, joining the wave of multinationals betting on the ambitious tech-enabled Metro Smart City project in Lagos.

The signing ceremony marks a significant milestone for the 97-hectare development designed to redefine African urban living through technology, sustainability, and integrated infrastructure.

This latest partnership, coming just two weeks after a similar deal with the Chevron Employees Multipurpose Cooperative Society (CEMCS), further signals growing confidence in Metrospeed’s vision for a high-value, tech-powered urban future.

The CEO of Metrospeed Group, Dele Oyefuga, at the signing ceremony, in Lagos, described the deal as a strategic partnership, while emphasising that the collaboration validates the firm’s capacity for execution, governance, and long-term value creation.

“This partnership is strategic. It speaks to confidence not just in our product, but in our governance, delivery capacity, and long-term value creation,” Oyefuga stated.

The 97-hectare Metro Smart City is being developed in collaboration with global infrastructure leader China Civil Engineering Construction Corporation Ltd (CCECC) and is designed to be a future-forward urban model.

“Metro Smart City is not just a development; it’s a blueprint for how African cities should evolve into smart, sustainable, secure, and premium. We are combining innovation, technology, and urban planning to serve future generations,” Oyefuga added.

The president of ExxonMobil Cooperative, Isibor Iyasele, said the partnership offers real value to its members and represents a meaningful opportunity in today’s real estate market. “This will provide members of our cooperative an opportunity to key into something which we think will bring good value. That’s the objective,” he said, adding that the group’s interactions with Metrospeed have been “good and encouraging.”

Head of sales & marketing at Metrospeed, Emike Ntiokiet, echoed the significance of ExxonMobil’s involvement, adding that, “This partnership reaffirms the market’s growing confidence in Metrospeed. ExxonMobil didn’t just buy land, they bought into the future. They saw the infrastructure, the scalability, the lifestyle proposition, and most importantly, the returns.”

Ntiokiet added that investor traction continues to grow: “We are experiencing a strong traction curve, driven by product confidence, premium positioning, and effective messaging. Our strategy is to continue attracting forward-thinking investors and early believers.”

As interest from multinationals continues to rise, the Metro Smart City project positions itself as a flagship model for integrated living, sustainable infrastructure, and inclusive investment opportunities in Nigeria and beyond.

Giving an insight into what investors can expect, the CEO promised good returns, security, and pride of ownership. “Every plot is backed by clarity of title, infrastructure roll-out, and a vision tied to commercial and residential harmony,” he said.