News
Real estate firm urges Nigerian government to prioritise housing, unveils Ivy Suite estate
The General Manager, Ostia Property and Homes, a subsidiary of NIMCO group, Mr. Olumide Banjo, has called on government to prioritise the provision of affordable housing for Nigerians.
He said: “Government needs to see the provision of housing for the citizens as a must and look at the cost of building materials, understand that to be able to deliver affordable, we need to build affordable homes. I don’t see why as a developer, you cannot approach cement and reinforcement manufacturers at lower prices. Right now, it does not happen, they will rather push you to distributors who are out to make money. We should have direct dealings with materials manufacturers to take advantage of price difference.”
Banjo said this at the unveiling of ‘The Ivy Suite estate’ in Lagos. The estate is a 22-unit housing, comprising three-bedroom and Boys Quarters (BQ), four units of two bedrooms maisonette with a BQ, located in Ogudu Government Reserved Area.
The estate is built to meet modern living with a functional entryway and sleek interior finishing. Each unit has all room en-suite, exquisite master bedroom, water supply, closed circuit television, gym, swimming pool, biogas sewage treatment, service personnel room, perimeter fencing and recreational area.
He said the estate is secured through a Global Certificate of Occupancy (C-of-O), solely funded by the developer and designed with ample livable spaces and children friendly, putting into consideration the wellness of the family.
Banjo said: “We are working with Lagos State Property Development Corporation (LSPDC), to deliver 130 units of houses, projects with local council to deliver quality and affordable homes. We have developed expertise in building affordable residential and commercial houses to accommodate the need for luxury, comfort, class and functionality.
“With properties strategically located both on the Mainland and Island in neighbourhood, which are fast appreciating, well secured, easily accessible so as to encourage peaceful living.”
On impact of inflation and rising interest rate, he explained that the firm had adapted to changes in the cost of materials, deployed new methodology to reduce losses and ensure that subscribers get value on their investments.
The Head, Business Development of the firm, Mr. Ayomide Olomiye, said the estate on 5,007 square metres land was completed in one-year, adding that the project has a payment plan spread across three months, while there is also window for outright payment.
Olomiye said: “The housing units are not completely sold out. We have now introduced mortgage, whereby people can talk to mortgage banks and agree on number of years it will cover. Government needs to reduce taxes on imported building materials for developers to build at affordable rate.
“The Federal Mortgage Bank of Nigeria should also work with the people to have access to homes.”
The price for Ivy suites starts from N90 million.
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.
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