News
Lagos state government has built 3,526 houses through PPP – Sanwo-Olu
Gov. Babajide Sanwo-Olu of Lagos State on Thursday said his administration had inaugurated more than 15 housing projects and 3,526 housing units across the state since its inception in 2019.
Sanwo-Olu said this at the second stakeholders’ summit of the Real Estate Developers Association of Nigeria (REDAN), Lagos State Chapter, held in Lagos.
Sanwo-Olu, represented by Engr. Omotayo Bamgbose, Lagos State Commissioner for Physical Planning and Urban Development, said other on-going affordable and decent housing projects would be delivered before the end of the first tenure of his administration.
“Most of these projects are being developed in conjunction with private developers and we will continue to explore the public-private partnership model.
“This is in order to continue to enjoy the robust benefit it offers to the sector and its effectiveness in delivering more housing units to meet the demands of an increasing population,” he said.
According to him, the ongoing land reform in the state is a firm commitment to addressing the challenge of housing deficit in Lagos.
Sanwo-olu mentioned said the state government had also strengthened its policy of delivering homes to Lagosians through a convenient mortgage system tagged, ‘Rent-To-Own.’
The governor said: “In addition, we introduced the monthly rent payment policy to ease the hardship usually experienced by the people, especially low income earners.
“It is expected to be a win-win situation for both the tenants and landlords as it would create a steady stream of income for property owners.
I solicit the support of property owners and stakeholders to embrace the policy and ensure that it succeeds.”
Sanwo-Olu said the dearth of affordable housing affected low income citizens who paid an inconsistent share of their income for housing or lived in inadequate housing.
He expressed regret that low income earners had to live in houses that were hard to reach from their employment and had difficulty accessing health and other social services.
The governor admitted that finding the right solutions to the challenges confronting the state would require embracing diverse opinions and views; hence, the consistent engagement with critical stakeholders to achieve the greater Lagos desired.
Sanwo-Olu urged all serious-minded investors to join hands with the government for a speedy resolution of the housing deficit in the state, as the investment opportunities in the sector were huge and quite rewarding.
“To manage the activities of stakeholders in the real estate sector, we activated the law that established the Lagos State Real Estate Regulatory Authority (LASRERA).
“This agency is saddled with investigating complaints and petitions against licensed and unlicensed real estate practitioners, property developers and impose sanctions in accordance with the law.
“Let me also reiterate our administration’s zero tolerance policy to willful flouting of rules and regulations guiding the operations in the built industry,” he said.
The governor lauded REDAN for organising the summit at a time the state government was looking at innovative ways to meet its housing deficit.
He expressed optimism that the meeting would proffer workable solutions that would further enhance housing development in the state.
“I congratulate and commend the leadership of REDAN for partnering with the Lagos State government through her relevant agencies to organise this summit.
“I urge you as an association to join hands with us in the renewed and determined efforts to ensure that established standards in the industry are complied with and strictly enforced,” Sanwo-Olu said.
In his welcome address, Chairman, REDAN Lagos Chapter, Mr Bamidele Onalaja, said real estate, being a secured investment for an assured future, was faced with a global challenge which needed to be tackled.
Onalaja said to this end, developers must strengthen their synergy with the government and all relevant stakeholders in the industry.
He added that the summit was another opportunity to brainstorm and plan towards 2023 and beyond.
He noted that real estate investment over the years in Nigeria attracted both local and foreign investors.
According to him, the industry is, however, faced with unprecedented challenges such as inflation, which has led to a spike in the cost of building materials.
Onalaja said the adverse effect of global warming had also engendered a reduction of available land, especially in Lagos State due to flooding and erosion.
“For this reason and more there is every need to secure the future of the real estate industry.
“To all real estate developers who are yet to register, I urge you to be part of this formidable umbrella; there are so many investors in waiting,” he said.
Onalaja appreciated the Lagos State government under the stewardship of Gov. Sanwolu for his relentless support to REDAN, while lauding his colleagues for their doggedness to scale through the challenging year together.
News
Lagos schedules meeting with owners of distressed buildings.
The Lagos State Government has said it would soon arrange a meeting with developers/owners of distressed buildings on how best to address the redesign and remodelling of such structures by November.
This was disclosed recently by the Commissioner for Physical Planning and Urban Development, Oluyinka Olumide, at a function in Alahusa, Lagos.
Olumide said the prevalence of distressed buildings in different parts of the state was worrisome and needed the urgent attention of all stakeholders.
He said, “The Ministry of Physical Planning and Urban Development as mandated by the Lagos State Urban and Regional Planning and Development Law, 2019, as amended, was willing to extend its responsibility for approving the remodelling of existing buildings to provide technical assistance to developers and owners of distressed buildings, especially on the design and remodelling of such buildings.
News
FG threatens contractors over Enugu-Onitsha road delay
The Federal Government has instructed the contractors responsible for the 107km Enugu-Onitsha road dualization to expedite the project.
This directive was given by the Minister of Works, Senator David Umahi, during a meeting with MTN, the Enugu State Government, and the contractors, RCC Ltd and Nigercat Ltd, on Friday.
According to a statement released on Friday, the minister said he is disappointed over the slow pace of work on the project, he said, “Let me express my disappointment over the slow pace of work on that project. It is one of the worst roads in this country.
“Everywhere we have diversion; diverting from the one that RCC and Nigercat had completed, the contractors are not kind enough to even put stone based on the diversion points.”
He added, “So, by the reason of the launching of our Operation Free our Roads, it is now a violation of the policy on the side of the controllers and directors of the Federal Ministry of Works where we have vehicles falling on any project that is ongoing or where there are potholes on our roads.”
He also blamed the sufferings of road users on the lack of commitment and insensitivity of the contractors.
“The public must know that the President’s intention is not for them to suffer while trying to fix the roads, and it is their right to insist that contractors should fix the roads that they are engaged on,” he said.
The Minister commended the Enugu state government for their resolve to fund the construction of a 20 KM section of the road and expressed hope that MTN would execute the second phase of the project.
He noted, “Why the Enugu State government is intervening is because of the slow pace of work by the contractors and because of funding issues. The essence of tax credit is for funds to be made available. And so, I don’t see RCC going to keep their promise to finish this project in 6 months.
“My advice to MTN is to look for another contractor within that axis if they want to get the job done. Division of labour is even the best. While they are doing the road, and if Nigercat is doing a good job, you can give them greater scope to do if you want to finish that job.”
He warned contractors that the Federal Government would not accept phased handovers of projects and has phased out Variation of Price in contract administration.
News
Ekiti state government mediates land dispute between traditional ruler and family in Epe-Ekiti
The Ekiti State government has intervened to resolve a longstanding land dispute between the Elepe of Epe-Ekiti, Oba Ayodele Adesoye, and the Atolagbe family. The government cautioned against the misuse of modernization as an excuse to disregard traditional customs.
In line with the community’s traditions, the government has ordered the release of resources, including palm trees at Oko Oba Farmland, to Oba Adesoye for his administration. This decision ensures the continued adherence to age-old practices.
Ekiti State Deputy Governor, Chief (Mrs) Monisade Afuye, announced the resolution in Ado-Ekiti. The decision was made after considering the Elepe’s claim to Oko Oba Farmland based on historical evidence.
Mrs. Afuye acknowledged the Elepe’s right to be the custodian of Oko Oba Farmland, citing longstanding traditions that support his claim. The decision reflects the importance of respecting historical practices and ensuring their preservation.
The deputy governor, however, told the monarch in clear terms that other princes and princesses from all the three ruling houses should be allowed to farm on the land without payment of royalty.
Mrs Afuye appealed to the community to comply with the government’s position to restore unity, peace and orderliness to the beleaguered community.
Oba Adesoye expressed gratitude for the government’s decision and pledged to foster peace and unity between the throne and the community, aiming to accelerate Epe’s development.
Representing the Atolagbe family, Dr. Yemi Agbeleoba acknowledged their willingness to cede Oko Oba Farmland to the monarch. However, he emphasized the need for all three ruling houses to participate for a lasting and traditional solution.
Agbeleoba expressed appreciation for the government’s directive, believing it will contribute to resolving the long-standing conflict.
-
News2 years ago
A TENANT IS NOT ENTITLED TO REFUND OF RENT WHERE HE UNILATERALLY SURRENDERS TENANCY
-
News2 years ago
HOW PASTOR ASHIMOLOWO BECAME BIG IN REAL ESTATE
-
General2 years ago
Seven Most Popular and Influential Young Real Estate CEOs in Nigeria
-
News1 year ago
Understanding the importance of a certificate of occupancy in land ownership
-
News1 year ago
Big C Properties Boss, Aforjama to be Honored as Anambra Real Estate Person of the Year
-
News2 years ago
LAND TITLE VERIFICATION EXERCISE IN OGOMBO
-
News2 years ago
RevolutionPlus Property Unveils New Executive Management Team
-
News2 years ago
Lagos socialite accused of unlawful demolition of N800 million property