President Bola Tinubu has congratulated the management and staff of Kresta Laurel Limited on the company’s 35th anniversary, commending the leading indigenous elevator company for its enterprise, discipline, and resilience.
In a statement, the President noted that Kresta Laurel’s longevity as a major player in the elevators and escalators sector is a testament to effective management and sound business practices, thanking the company for its “unwavering belief in the Nigerian market.”
The milestone was marked by a Gala and Award Night in Lagos and an interactive session focused on capacity building for young engineers.
A Silent Backbone of the Economy
Speaking at the anniversary gala, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described the company as the “silent backbone of our urban landscapes.” He stated that Kresta Laurel does not only move people and goods but also drives the economy by enabling modern architecture to reach the skies. Edun stressed the importance of focusing on the future, noting that smart cities, IoT, and sustainability are now pressing realities.
Believe in Nigeria and Nurture Successors
The Founder and Group Chairman of Kresta Laurel Limited, Senator Otunba Gbenga Daniel, used the anniversary to champion two critical causes: faith in the nation and support for local capacity.
Senator Daniel, a former Governor of Ogun State, urged Nigerians to “believe in Nigeria”. He recalled company’s bold 1990 vision that African engineers could deliver world-class vertical and horizontal transportation systems. While celebrating the company’s growth as a symbol of national pride, he emphasized the need to start building a successor generation of engineers for sustainable national development.
Senator Daniel called on the Federal Government to support local industries to compete effectively against foreign companies that benefit from subsidies in their home countries.
He lamented the significant challenges local manufacturers face, such as providing their own amenities (like electricity and water) while simultaneously being subject to multiple taxes. Despite these challenges, he expressed support for President Tinubu’s economic reforms, “Nigeria First” initiatives, and tax reforms, which he hopes will boost local entrepreneurs’ confidence.
Investing in the Next Generation
The Managing Director of Kresta Laurel Limited, Engr. Dideolu Falobi, affirmed the company’s commitment to transforming industries through technology, sustainability, and indigenous expertise, envisioning Nigerian companies becoming global players.
“We are proud of what we have achieved in three and a half decades, but we are even more excited about the future. We see a future where Nigerian companies like ours are not just local champions but global players. A future where technology, sustainability, and indigenous expertise will transform industries. A future where Kresta Laurel will not only be installing elevators but also helping to elevate Nigeria itself, in innovation, skills, industrial capacity, and global competitiveness,” he said.
Falobi added that the company plans to expand across sectors, pioneer renewable and environmentally friendly solutions, and continue building the capacity of young Nigerian engineers.
“As I always say, a country that does not invest in its engineers is a country that will end up importing even the bolts and nuts for its dreams,” he remarked.
Since its inception, Kresta Laurel Limited has established itself as Nigeria’s foremost engineering company specializing in electro-mechanical systems, including elevators, overhead cranes, and industrial uninterruptible power systems (UPS). The 35th anniversary celebration reinforced the company’s position as a trailblazer committed to growth, industrial capacity, and sustainable development.
As an ISO 9001:2015 Quality Management System certified firm, Kresta Laurel operates as a total engineering company and is an authorized distributor and partner to global market leaders like KONE Elevators, KLEEMANN Lifts, and DEMAG Cranes. The company’s impressive project portfolio spans key national infrastructure and high-profile commercial buildings, including the installation of vertical transportation systems at the Central Bank of Nigeria Headquarters, the National Assembly Complex in Abuja, the Shell Petroleum Development Company (SPDC) Headquarters, and major bank headquarters (such as UBA and the former Diamond Bank HQ). These projects underscore Kresta Laurel’s long-standing role in shaping Nigeria’s modern urban and industrial landscape.
Recently, it organised an interactive training program for engineering undergraduates from the University of Lagos, Lagos State University of Science and Technology, and Lagos State University. The program, which included sessions on leadership, fire safety, and industry best practices, aimed to bridge the gap between theoretical knowledge and practical industry experience.