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Meet Henrich Akomolafe, Young Entrepreneur Changing Engineering Sector Narrative In Nigeria

Henrich Akomolafe is the face of Akotex Nigeria Limited, a company that focuses on elevator and escalators, with subsidiaries in construction, real estate, as well as robotics and artificial intelligence.

His presence in Nigeria’s business sector has been a source of inspiration to young entrepreneurs. He has achieved this feat in a country where people hold the belief that one can only be successful at the age of 40 and above in specialised fields such as the engineering or real estate sector. 

Akomolafe’s experience cuts across engineering, real estate, construction, and information technology. His modest success has affected not just his organisation, but Nigeria as well.

Alongside his dad, he co-founded one of the leading elevator manufacturing companies for high-rise buildings in Nigeria when he was only eight years old. He served as one of the board of directors. Inspired by his dad’s entrepreneurial spirit, he went on to look after the business once he completed his master’s degree in Spain.
He changed his career in computer engineering to elevator manufacturing to better understand the business features and functionality.

Under Akomolafe’s leadership, the company has generated remarkable profits and has also established new business lines such as BNR, a real estate and construction company, and M7R, an Information Technology company. 

Driven by the desire to succeed, Akomolafe has been able to secure contracts with Federal Government ministries and agencies, such as the Federal Inland Revenue Service (FIRS), the Federal Airport Authority (FAAN) and the Ministry of Foreign Affairs (MFA). 

Similarly, Akomolafe also secured contracts from the University of Port Harcourt (UNIPORT), Imo State University (IMSU), University of Maiduguri (UNIMAID), Kwara State University, and others through intervention projects from the Central Bank of Nigeria (CBN), and Tertiary Education Trust Fund (TETFUND). 

With the intention of expanding the business, Akomolafe converted the profits into creating housing for young entrepreneurs. In simple terms, he sells elevators, uses the returns to buy lands, designs and builds houses on them, and then sells them.

Furthermore, Akomolafe created a digital payment option which fosters blockchain adoption among people with the aim of contributing to his community. 

At this point, it is safe to say that the computer engineer is now a businessman who is taking giant strides in different sectors of the economy. 

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