The Nation Newspaper

Category: Building & Properties

  • Diaspora Lakeview Estate makes debut in Lekki

    A real estate company, Diaspora Lakeview Estates Limited, said it is partnering  with Thesaurus Gardens Limited to co-develop ‘Diaspora Lakeview Estate’ which is the first CCTV powered estate of its kind.

    The estate is located within the Caribbean Lake City, along Lekki-Epe Expressway, opposite Crown Estate, and situated in the neighbourhood of other estates namely Emperor Estate, Fara Park and Novare Mall.

    According to the promoters who spoke to the The Nation they revealed that  the Lagos State  allocated to Thesaurus Gardens Limited 51 hectares of land, from which Diaspora Lakeview Estates Ltd derives its title.

    They said the joint venture would seek to improve and restore confidence of Nigerians abroad who have always wanted to invest in landed properties but have fallen victims to land grabbers popularly referred to as ‘Omo-Oniles’.

    The Managing Director of Thesaraus Gardens Limited, Bolaji Olasode, said the collaboration with Diaspora Lakeview Estates Limited is strategic for both companies geared towards giving prospective land owners a peace of mind in acquiring property.

    He went further to state that a unique feature of the estate is the waterway transport system through which people can travel by sea to all parts of Lagos State, while stressing that the cost of land at the Diaspora Lakeview Estate will appreciate rapidly and the return on investment is speculated at 100 per cent in two years.

    According to the Chairman of Diaspora Lakeview Estates Limited, Prince Williams-Joel  said  the innovation in real estate will seek to provide an outstanding level of service, excellence, expertise, and security in securing real estate investment and development.

    He said: “We act in the best interest of our clients who are domiciled abroad by offering unquestionable ethics on all land transactions. Through this joint venture, we are restoring people’s confidence in investing in Nigeria, having fallen victims of fraudsters in the past. The Diaspora Lakeview Estate is one of its kind because you do not have to travel several kilometres to purchase a land; we bring the land to your door step, home or abroad, and considering that everyone wants to own a land in Lagos State, the Centre of Excellence, it would be a very good opportunity to invest in this unique offer.”

    Joel further said that the estate will boast of 24 hours power supply, internet services, waterways transportation, amongst others.

    As part of its goal in offering affordable real estate services, the company is embarking on a Real Estate Promo with a plot of land being sold for only N10, 000,000 (Ten Million Naira) as against N12, 500,000 (Twelve Million and Five Hundred Thousand Naira) and the promo closes on the 16th of February, 2019.

    Whilst enumerating the benefits of acquiring land especially along the Lekki-Epe axis of Lagos State, he also stated that preparations are on top gear to make similar arrangements for those interested in developed buildings in Abuja and Port Harcourt, with a development of duplexes and blocks of flats.

  • African road safety leadership programme kicks off in Abidjan

    African road safety leadership programme has kicked off in Abidjan the  Côte d’Ivoire capital on Tuesday.

    The programme, which runs till tomorrow ( Friday), is intended to develop leadership capabilities in road safety planning, implementation, management, and operations; and ultimately help reduce the number of road crashes on the roads of Africa

    The second Road Safety Leadership Programme organised by the Africa Transport Policy Programme (SSATP), an international partnership hosted by the World Bank) in collaboration with the African Development Bank , kicked off at the Bank’s Headquarters in Abidjan on February 4. The programme, which runs till February 8, is intended to develop leadership capabilities in road safety planning, implementation, management, and operations; and ultimately help reduce the number of road crashes on the roads of Africa. High-level specialists from the SSATP, the African Development Bank, the World Bank, the United Nations Economic Commission for Africa, and academia, will share their experiences on improving road safety through practical examples and best practices.

    The promoters of the leadership programme said growing vehicle ownership and rapid urbanisation across the continent are factors which have increased the incidence of road accidents with the  ensuing socio-economic impacts harming the continent’s development. The economic loss caused by road crashes in Nigeria, for example, is estimated at three per cent of the country’s GDP.

    For instance in  Morocco, the GDP loss is estimated at 2.5 per cent, furthermore, deaths and injuries affect countless families and friends of crash victims. Nearly 50 per cent  of the victims are pedestrians, cyclists or motorcyclists, who are exposed to multiple hazards and often chaotic conditions on Africa’s roads. The grief and distress experienced due to the loss of life or quality of life could be prevented by systematic and appropriate solutions from governments and societies.

    Both the SSATP and the African Development Bank recognise the need for investment in sustainable road safety facilities. The SSATP promotes road safety management at the national level through the creation of dedicated lead agencies for effective road safety, national road safety strategies with time-bound targets actionable by different stakeholders, and a road crash database system for evidence-based road safety interventions.

    Road safety – from design to operation – is one of the priority cross-cutting areas in the Bank’s Infrastructure and Urban Development Department.

    “Our contribution to this important SSATP event is an effective way for the bank to engage with its regional member countries to bring about positive changes and sustainable effects which contribute to Africa’s development and improve the lives of African people,” said road safety specialist at the African Development Bank, Girma Bezabeh.

    Senior Transport and Road Safety Specialist at the SSATP, Tawia Addo-Ashong said: “More than 300,000 people lose their lives every year on the roads of Africa and the situation is getting worse. The SSATP has a mission to reverse the trend. The Road Safety Leadership Programme can help to strengthen the region’s capacity for handling road safety challenges while building a network of peers and champions who can advocate for, and support, road safety interventions at the regional, national and municipal levels.

    This programme is being attended by senior representatives of African ministries of transport, health, interior, and national road safety agencies, African sub-regional and regional organisations, non-governmental organisations (NGOs), and stakeholders from eight African countries such as Nigeria, Côte d’Ivoire, Gambia, Ghana, Kenya and Morocco. Others are  Sierra Leone and Zimbabwe.

  • Surveyors decry shortage of certified members

    The President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Rowland Abonta, has decried the ratio of registered Estate Surveyors & Valuers which he said stood at about 6,000 nationwide compared to the total population of about 190 million people. He pointed out that  the number is  insufficient  and have the capacity to encourage quackery. He spoke  at the 25th John Wood Ekpenyong Memorial Lecture and 2019 Fellows’ Induction, organised by the institution in Abuja.

    He also harped on the need for political office holders to avail themselves the services of his members to save themselves from embarrassment in connection with Asset declaration. He added that only recently the Chief Justice of the Federation, Mr. Walter Onnoghen was involved in a controversy over lack of declaration of his assets with the Code of Conduct  Bureau. He argued that the Chief Justice of the Federation  may not  have faced the challenge he is currently facing if he had employed the services of Estate Valuers.

    At the event, the Institution inducted 28 new Fellows who pledged allegiance to the uplifting and ideals among other things, at a ceremony which brought together people from across the country.

    The NIESV boss regretted a situation where government claims to be fighting corruption and still gives non professionals powers  to value assets and put any figure they like, stressing that such practice is wrong.

    He said: “Like the Code of Conduct Bureau, we know what asset declaration is doing to our country today, especially, with the relationship between the Judiciary and the Executive arms of government. If only those in authority have allowed Estate Surveyors to play their statutory roles when it comes to assets declaration, maybe the Chief Justice of Nigeria, will not be facing the challenge he is facing today. This is because an Estate Valuer will be interested in listing all his assets at once and will also be interested in verifying and confirming those assets. But a situation where the government is fighting corruption and the government gives power to those declaring their assets to put figures they like is a big disservice to the nation”, he added.

    Past president of the institution , Chief Emeka Onurah,  while delivering a lecture titled The Estate Surveyor and Valuers in Peril: Challenges and Prospects,  accused government at all levels of violating the laws establishing Estate Valuers Registration Board of Nigeria otherwise known as ESVARBON laws.

    Onuorah charged the board to engage government in order to ensure that the ESVARBON laws are obeyed by all, stressing that Federal Inland Revenue Services  (FIRS) alleged engagement of companies whose job are not to carry out valuations is in clear contravention of the law of the land.

    He emphasised the need to add more business contents in the courses offered in our tertiary institutions to equip them with competitive knowledge as well as good business background.

    He said: “We need to look at the content of these institutions. Perhaps, we need to borrow more from the American system than the British system. The British system teaches you how to be a good estate valuer but it does not teach you how to be a good business man. That is the distinction, so we need to have more business content in our courses in the higher institutions so that the new graduands that would come out will have very good knowledge of the profession as well as a good business background.”

  • Hamzat unveils infrastructural plans for Lagos

    The Deputy Governorship candidate of the All Progressive Congress (APC), in Lagos State, Dr Obafemi  Hamzat, has said the state may do away with roundabouts in the metropolis for a more efficient road management. He, however, added that the situation will be subjected to further studies before eventually settling for the best model to adopt.

    Hamzat, who was a former Commissioner for Works & Infrastructure in the state, made this known in a chat with The Nation, while speaking on his plans for the state. According to him, research studies have shown that there are about 61 gridlock points in Lagos, with the biggest of them experienced at toll points along the Lekki/Ajah Estate.

    Furthermore, he revealed that studies showed that about 21 per cent of vehicles on Nigerian roads are domiciled in Lagos, leading to an upsurge in vehicle renewals in recent times. This, he said, lends credence to the need for intermodal transportation system in the state. Indeed, the need for this model of transportation has been on the rise, given the hectic traffic situation being experienced. Perhaps this accounts for the rise in water transportation in the state. For instance, from 14, 000 daily passenger movement by ferry in 2005, a record 144, 000 passengers now commute daily by this means.

    Hamzat, therefore, assured that if voted into office, his administration will improve on the model by engaging bigger ferries to ply the waterways, or by subsiding the cost of water transportation to make it more affordable for the populace.

    On the Bus Rapid Transport (BRT), Hamzat said: “We will provide large volume of buses and work on providing more dedicated routes for them. We will coordinate their activities. Our business is to ensure that movement of people and goods flow freely.  We will work on our inner roads  by  lifting the Public Works Department.  When we go full swing into construction of our roads,  we can employ 118,00 people  annually and that will stimulate the economy of the state because construction is a huge job creator,” he explained.

    Hamzat, while responding to a question on housing, said low cost housing does not exist anywhere as there are no low cost iron rods or cement. Rather, he explained, government will work on a sustainable housing system that will benefit the populace, especially first time home owners, young graduates and couples.

    On the perennial flooding in the state, the APC deputy governorship candidate explained that since the state lies two metres below sea level, the cases of flash flood being experienced is nothing to worry about because once there is a channel for water to flow such floods will disappear in no time.

    Hamzat explained that government will always work on desilting  and opening up of the drainage which they usually do two months before the onset of rains.

    Speaking on the challenge of refuse disposal, he said the greatest mistake made was to subjugate the Lagos Waste Management Authority (LAWMA). He maintained that LAWMA will continue to be the regulatory agency as far as refuse management is concerned while PSP operators will  function in areas they have capacities.

  • NIQS praises govt on tax for infrastructure

    The Nigerian Institution of Quantity Surveyors (NIQS) has praised the Federal Government for signing the Executive Order No. 007 of 2019. The order has to do with Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme.

    The Executive Order number 007 is aimed at enabling private companies to build infrastructure such as roads in the country and be rewarded with tax credits in return and was signed by President Buhari on January 25.

    The President, NIQS, Mr. Obafemi Onashile, in a chat with media men, said this initiative makes Nigeria the first country in Africa to look into providing critical infrastructure through the use of fiscal policy such as tax breaks, rather than the usual government direct funding or lease and concessional arrangement through the private sector.

    “The NIQS wishes to commend the President Muhammadu Buhari for this bold step and initiative which the NIQS had clamoured for in the past few years. This confirms that this government is listening and ready to think outside the box in finding workable solutions to infrastructure and housing problems in Nigeria,” he said.

    Onashile, while commending the President Buhari for this bold step and initiative, said it represents what the NIQS had clamoured for in the past few years.

    “This confirms that this government is listening and ready to think outside the box in finding workable solutions to Infrastructure and housing problems in Nigeria. This initiative could also make social housing provision easy, especially the multi-family type of housing.

    However, to make the Order a success, Onashile charged the Federal Government to include quantity surveyors in the proposed management committee to be saddled with the responsibility of overseeing the implementation of the Order. He explained that the Quantity Surveyor, as financial, contractual and administrative experts in engineering infrastructure and construction projects, have a lot to contribute to its success.

    “Members of the NIQS identify with the new and innovative project delivery method. The QS, being professionals focused mainly on finance and completion of projects only, with no conflict of interest in project designs or supervision, can surely bring a lot of expertise to bear in ensuring the success of the Order 7,” Onashile stated.

    Consequently, the institution, he said, would like to enjoin the Minister of Finance to consider very importantly the inclusion of numerous quantity surveyors in the Management Committee as stipulated in the signed Order.

    Expressing the institution’s concerns, the NIQS President said the body is concerned about getting professionals that would creditably monitor and verify the construction and the total development costs such that the country would not be shortchanged from its income that was being used on her behalf, just as it is worried about professionals that would set the cost yardsticks to be used to determine the volume of infrastructure a private company must deliver in a year to equate to pre-determined tax level.”This innovative Order while very good in principle could however fail due to many possible abuses and some lacunae that the NIQS has observed and which needed to be tightly closed from exploitation. Investor companies are to pay taxes yearly, so how is the quantum of the project delivered in year by an investor being equated to estimated tax liability for the year? If an investor company is not making sufficient financial injection into the project, how can this be quickly detected because the implication is that such company is not paying tax as and when due,” Onashile said.

    He warned that infrastructure delivery contracts are peculiar and require certain basic components of construction procedures to assure a smooth administration that cannot be exploited to the detriment of the government. “It is not the typical “business contract of sale” that lawyers draw up. It requires construction law expertise – quantity surveyor,” he said.

    The body urged the government to extend the Order on road infrastructure development and refurbishment investment tax credit scheme to the housing industry to close the gap in the sector.

  • Diaspora Lakeview Estate makes debut in Lekki

    A real estate company, Diaspora Lakeview Estates Limited, said it is partnering  with Thesaurus Gardens Limited to co-develop ‘Diaspora Lakeview Estate’ which is the first CCTV powered estate of its kind.

    The estate is located within the Caribbean Lake City, along Lekki-Epe Expressway, opposite Crown Estate, and situated in the neighbourhood of other estates namely Emperor Estate, Fara Park and Novare Mall.

    According to the promoters who spoke to the The Nation they revealed that  the Lagos State  allocated to Thesaurus Gardens Limited 51 hectares of land, from which Diaspora Lakeview Estates Ltd derives its title.

    They said the joint venture would seek to improve and restore confidence of Nigerians abroad who have always wanted to invest in landed properties but have fallen victims to land grabbers popularly referred to as ‘Omo-Oniles’.

    The Managing Director of Thesaraus Gardens Limited, Bolaji Olasode, said the collaboration with Diaspora Lakeview Estates Limited is strategic for both companies geared towards giving prospective land owners a peace of mind in acquiring property.

    He went further to state that a unique feature of the estate is the waterway transport system through which people can travel by sea to all parts of Lagos State, while stressing that the cost of land at the Diaspora Lakeview Estate will appreciate rapidly and the return on investment is speculated at 100 per cent in two years.

    According to the Chairman of Diaspora Lakeview Estates Limited, Prince Williams-Joel  said  the innovation in real estate will seek to provide an outstanding level of service, excellence, expertise, and security in securing real estate investment and development.

    He said: “We act in the best interest of our clients who are domiciled abroad by offering unquestionable ethics on all land transactions. Through this joint venture, we are restoring people’s confidence in investing in Nigeria, having fallen victims of fraudsters in the past. The Diaspora Lakeview Estate is one of its kind because you do not have to travel several kilometres to purchase a land; we bring the land to your door step, home or abroad, and considering that everyone wants to own a land in Lagos State, the Centre of Excellence, it would be a very good opportunity to invest in this unique offer.”

    Joel further said that the estate will boast of 24 hours power supply, internet services, waterways transportation, amongst others.

    As part of its goal in offering affordable real estate services, the company is embarking on a Real Estate Promo with a plot of land being sold for only N10, 000,000 (Ten Million Naira) as against N12, 500,000 (Twelve Million and Five Hundred Thousand Naira) and the promo closes on the 16th of February, 2019.

    Whilst enumerating the benefits of acquiring land especially along the Lekki-Epe axis of Lagos State, he also stated that preparations are on top gear to make similar arrangements for those interested in developed buildings in Abuja and Port Harcourt, with a development of duplexes and blocks of flats.

  • African road safety leadership programme kicks off in Abidjan

    African road safety leadership programme has kicked off in Abidjan the  Côte d’Ivoire capital on Tuesday.

    The programme, which runs till tomorrow ( Friday), is intended to develop leadership capabilities in road safety planning, implementation, management, and operations; and ultimately help reduce the number of road crashes on the roads of Africa

    The second Road Safety Leadership Programme organised by the Africa Transport Policy Programme (SSATP), an international partnership hosted by the World Bank) in collaboration with the African Development Bank , kicked off at the Bank’s Headquarters in Abidjan on February 4. The programme, which runs till February 8, is intended to develop leadership capabilities in road safety planning, implementation, management, and operations; and ultimately help reduce the number of road crashes on the roads of Africa. High-level specialists from the SSATP, the African Development Bank, the World Bank, the United Nations Economic Commission for Africa, and academia, will share their experiences on improving road safety through practical examples and best practices.

    The promoters of the leadership programme said growing vehicle ownership and rapid urbanisation across the continent are factors which have increased the incidence of road accidents with the  ensuing socio-economic impacts harming the continent’s development. The economic loss caused by road crashes in Nigeria, for example, is estimated at three per cent of the country’s GDP.

    For instance in  Morocco, the GDP loss is estimated at 2.5 per cent, furthermore, deaths and injuries affect countless families and friends of crash victims. Nearly 50 per cent  of the victims are pedestrians, cyclists or motorcyclists, who are exposed to multiple hazards and often chaotic conditions on Africa’s roads. The grief and distress experienced due to the loss of life or quality of life could be prevented by systematic and appropriate solutions from governments and societies.

    Both the SSATP and the African Development Bank recognise the need for investment in sustainable road safety facilities. The SSATP promotes road safety management at the national level through the creation of dedicated lead agencies for effective road safety, national road safety strategies with time-bound targets actionable by different stakeholders, and a road crash database system for evidence-based road safety interventions.

    Road safety – from design to operation – is one of the priority cross-cutting areas in the Bank’s Infrastructure and Urban Development Department.

    “Our contribution to this important SSATP event is an effective way for the bank to engage with its regional member countries to bring about positive changes and sustainable effects which contribute to Africa’s development and improve the lives of African people,” said road safety specialist at the African Development Bank, Girma Bezabeh.

    Senior Transport and Road Safety Specialist at the SSATP, Tawia Addo-Ashong said: “More than 300,000 people lose their lives every year on the roads of Africa and the situation is getting worse. The SSATP has a mission to reverse the trend. The Road Safety Leadership Programme can help to strengthen the region’s capacity for handling road safety challenges while building a network of peers and champions who can advocate for, and support, road safety interventions at the regional, national and municipal levels.

    This programme is being attended by senior representatives of African ministries of transport, health, interior, and national road safety agencies, African sub-regional and regional organisations, non-governmental organisations (NGOs), and stakeholders from eight African countries such as Nigeria, Côte d’Ivoire, Gambia, Ghana, Kenya and Morocco. Others are  Sierra Leone and Zimbabwe.

  • N10b luxury Prime Rose Estate berths in Lekki

    Crime Rose estate in Ibeju- Lekki, Lagos has a common denominator with estates in her category along the axis. It has luxury, flexible payment options  affordable to those who may desire to be part.

    The promoter of the estate and Managing Director of Gtex Homes and Gtex Global Mr. Stephen Akintayo said the estate is targeted at the Upper middle class and will come with the accompanying luxury they are used to such as a Golf Resort and every privilege they are used to. He said the proximity of the estate to the Lekki Free Trade Zone and Dangote Refinery makes it a prime estate for the middle class. He added that this will further quicken the development of the estate and neigbourhood.

    On the number of houses on each of the estates, he said it will host over 500 housing units of four bedroom duplexes, serviced flats and apartments that will be as high as eight storey building.

    The second estate in Sapphire Estate in Owutu-Isawo, Ikorodu, he said, would consist of 1, 2 & 3 bedroom flats and bungalows complemented with a museum and a canoe resort as the estate is bordered by rivers. This housing unit would be sold to subscribers on packages that will suit individual purses on a flexible payment plan and affordable prices.

    The investment margin, he explained, is as high as 20 per cent. He encouraged people to come in as joint and retail investors and reap from the high Return on Investment (Rol). Adding that with an initial investment of 30 per cent an investor can make up to 130 per cent income in three years just by putting your money down for the company to build houses in all segments and sell and return the profit to you.

  • Surveyors decry shortage of certified members

    The President of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr. Rowland Abonta, has decried the ratio of registered Estate Surveyors & Valuers which he said stood at about 6,000 nationwide compared to the total population of about 190 million people. He pointed out that  the number is  insufficient  and have the capacity to encourage quackery. He spoke  at the 25th John Wood Ekpenyong Memorial Lecture and 2019 Fellows’ Induction, organised by the institution in Abuja.

    He also harped on the need for political office holders to avail themselves the services of his members to save themselves from embarrassment in connection with Asset declaration. He added that only recently the Chief Justice of the Federation, Mr. Walter Onnoghen was involved in a controversy over lack of declaration of his assets with the Code of Conduct  Bureau. He argued that the Chief Justice of the Federation  may not  have faced the challenge he is currently facing if he had employed the services of Estate Valuers.

    At the event, the Institution inducted 28 new Fellows who pledged allegiance to the uplifting and ideals among other things, at a ceremony which brought together people from across the country.

    The NIESV boss regretted a situation where government claims to be fighting corruption and still gives non professionals powers  to value assets and put any figure they like, stressing that such practice is wrong.

    He said: “Like the Code of Conduct Bureau, we know what asset declaration is doing to our country today, especially, with the relationship between the Judiciary and the Executive arms of government. If only those in authority have allowed Estate Surveyors to play their statutory roles when it comes to assets declaration, maybe the Chief Justice of Nigeria, will not be facing the challenge he is facing today. This is because an Estate Valuer will be interested in listing all his assets at once and will also be interested in verifying and confirming those assets. But a situation where the government is fighting corruption and the government gives power to those declaring their assets to put figures they like is a big disservice to the nation”, he added.

    Past president of the institution , Chief Emeka Onurah,  while delivering a lecture titled The Estate Surveyor and Valuers in Peril: Challenges and Prospects,  accused government at all levels of violating the laws establishing Estate Valuers Registration Board of Nigeria otherwise known as ESVARBON laws.

    Onuorah charged the board to engage government in order to ensure that the ESVARBON laws are obeyed by all, stressing that Federal Inland Revenue Services  (FIRS) alleged engagement of companies whose job are not to carry out valuations is in clear contravention of the law of the land.

    He emphasised the need to add more business contents in the courses offered in our tertiary institutions to equip them with competitive knowledge as well as good business background.

    He said: “We need to look at the content of these institutions. Perhaps, we need to borrow more from the American system than the British system. The British system teaches you how to be a good estate valuer but it does not teach you how to be a good business man. That is the distinction, so we need to have more business content in our courses in the higher institutions so that the new graduands that would come out will have very good knowledge of the profession as well as a good business background.”

  • Fed Govt shops for N40b to replace nine buildings

    •Prison, court, Fed Secretariat, college, others need repair

    ABOUT N40 billion is required to replace nine public buildings that are presently in bad shape, the Federal Government said yesterday.

    The buildings include prisons, court, Federal Secretariat, hospitals, a Federal Government’s college and four blocks of building in the Ministry of Power, Works and Housing, including the Power House.

    The country, the Minister of Power, Works and Housing, Babatunde Fashola said, was capable of saving billions of Naira yearly, if members of the public embrace maintenance as they do religion.

    Fashola spoke in Abuja yesterday during the public presentation of the ‘National Public Building Maintenance Policy’.

    The minister stated that data from other countries showed that maintenance contributes about three per cent to Gross Domestic Products (GDP) of South Africa, Canada and United States of America.

    On the importance of the policy, the minister said: “The Federal Government’s decision on maintenance is an economic decision. It is meant to empower Nigerians at the base of the economic pyramid, especially those who are artisans.

    “It is also meant to empower the middle class; those who are in small and medium scale enterprises, manufacturers of cottage industry produced equipment and generally drive the growth of Nigeria’s economy.”

    On the financial implication of poor maintenance, the minister said: “We used nine public buildings as pilot; the prison, court, federal secretariat, hospital, Federal Government College and four of our buildings and the power house. The total overview of those nine buildings showed to us that it will cost about N40 billion to replace those buildings.

    “We thought that if we pursue maintenance at about N600 million to N900 million per annum, those buildings can achieve their desired life of between 50 to 70 years. If we had N40 billion in any event, instead of using them to replace existing buildings, we should be using them to expand and provide more for our growing population.”

    He also said maintenance would create employment opportunities.

    “If we spend under a billion a year, we found out that we will be employing over 400 people in just those nine buildings.

    “One of the schools will require about 34 people and I did a quick check; there are about 104 unity schools, so if you multiply 34 by 104 for schools alone, you will begin to see the numbers we are seeing.

    “In the Ministry of Interior alone, if the work begins to get to prison to make sure that there is water, electricity and that roofs don’t leak; just imagine if it spreads across all the police stations in Nigeria because they are public buildings as well. Can we then truly say that there will be no work in this economy?”

    The minister added: “The data available from South Africa, Canada and the United States shows that maintenance as an economy contributes from 1.5 per cent to three per cent GDP contribution and that is massive and that is why I feel I need to let people know that what we have signed unto is enormous and that is why I said this is the work that I have done here that I am most proud of and I hope that I live to see the result.”

    Commenting on recent law prohibiting discrimination against people living with disability, Fashola urged architects to brace up to achieve the five years compliance target set.

    “What President Buhari has done with that law is profound. A new status and new way of life has been presented to us. He has done his job, we must do ours. So, we have to retrofit all those buildings within the next five years and as we do that, people will be employed and lives will change in one month.”