President Bola Tinubu has congratulated the management and staff of Kresta Laurel Limited as the indigenous elevator and electromechanical company marked its 35th anniversary.
In a statement issued Thursday by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu commended the company for its enterprise, resilience, and discipline, noting that its longevity reflects effective management and sound business practices.
“Kresta Laurel Limited is a major player in elevators and escalators, with headquarters in Lagos, branches in Abuja, Port Harcourt, and Uyo, and a zonal office in Ibadan. The company is a recipient of the African Order of Merit in Cranes, Escalators, and Elevator Technology,” the statement read in part.
The President also thanked the firm for its continued support and confidence in the Nigerian market.
Speaking at the 35th Anniversary Gala and Award Night in Lagos, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the company’s mission since inception has been to push boundaries and contribute to Nigeria’s growth.
“Thirty-five years in the life of a company is more than a timeline. Kresta Laurel does not only move people and goods but also drives the economy. You enable modern architecture to reach the skies. This is not just business; it is part of the nation’s beauty,” Edun said, while urging the firm to embrace smart city innovations, sustainability, and future technologies.
The company’s Founder and Group Chairman, Otunba Gbenga Daniel, recalled that Kresta Laurel was established in 1990 with a vision that African engineers could deliver world-class vertical and horizontal transportation systems. He urged Nigerians to believe in the country and stressed the importance of engineering in national development.
“Our mission has always been to advance Nigeria’s infrastructure through robust electromechanical systems, from elevators and escalators to cranes, UPS systems, and façade access equipment,” Daniel said. “This milestone is not just about the past, but about charting a new horizon for Nigeria’s engineering future, especially in renewable energy and tropicalised systems.”
Managing Director Dideolu Falobi said the company remains committed to expanding across sectors, driving sustainability, and equipping young engineers.
“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,” Falobi said. “A country that does not invest in its engineers will end up importing even the bolts and nuts for its dreams.”
Founded in 1984 and beginning operations in 1990, Kresta Laurel has grown into a multi-billion-naira enterprise with offices in Lagos, Port Harcourt, Abuja, Uyo, Kaduna, and Ibadan. The anniversary celebration highlighted the company’s resilience, growth, and contribution to Nigeria’s infrastructure and industrial development
