The Nation Newspaper

Category: Building & Properties

  • Infrastructure: Ogun to power institution with solar

    Infrastructure: Ogun to power institution with solar

    In furtherance of its infrastructure development in Ogun, the state government has concluded plans to power the newly- established Ogun State Polytechnic, Ipokia, with solar energy. This will not only guarantee uninterrupted power supply, but also is a part of its rural development strategy.

    The solar power system, said the Commissioner for Works and Infrastructure, Mr. Olamilekan Adegbite, will be installed by an Independent Power Provider (IPP), under a Public-Private Partnership (PPP).

    In a statement issued by the Head of Media in the Works and Infrastructure Ministry, Mr. Ayokunle Ewuoso, the commissioner was reported to have said the institution’s neighbours would also benefit from the solar power system.

    Adegbite explained that the firm selected for the project was one of the 12 Independent Power Providers earlier screened and certified to provide electricity for the state.

    “Government has decided to allocate five hectares of land to tqhe IPP out of the 400 hectares allocated for the institution. The IPP needs a large expanse of land where it will install the solar panels. This is from where the solar energy will be transmitted to the institution and its environs. What we want to achieve in all of these is to provide uninterrupted power supply to the school and equally allow the immediate environment benefits, though it will not be free,” he explained, adding that barring any unforseen circumstances, the institution will be completed by next year.

  • Pertinence boss advises government on planning

    Pertinence boss advises government on planning

    •Firm set to redefine Island property market

    The need for government to ensure effective and efficient planning in the Lekki –Ajah- Epe axis of Lagos state, has been re-emphasised. This is because if proper planning is not put in place and government enforce strict development guidelines, the corridor may soon become chaotic, ultimately ending up as a slum.

    This is the view of an Executive Director of Pertinence Limited, Mr. Sunday Olorunsheyi, in a chat with The Nation Property at the weekend. According to him, the corridor, which is regarded as the fastest growing corridor in West Africa, presents a cash-cow opportunity for both the state and federal government if proper planning is put in place. It also provides an abode for luxury living style, which he reckons is capable of changing the real estate landscape for good.

    “Most of the places we see abroad is not as if they don’t have challenges, but they are better planned. Our government has a lot to do in planning and infrastructure for this axis. It is not that there are no agencies responsible for this development, but some of them are just not doing what they are supposed to do,” he explained.

    Olorunsheyi, who spoke at the land promo launch of his firm in Lekki, revealed that in the spirit of defining real estate development in the Lagos Island market, Pertinence Limited, with vast interest in housing market, has established luxury estates in the corridor, with a view to empowering the public to invest in same. One of such  estates, he revealed, is the Lakowe estate, located just beside the golf course.

    “It is a place people have been eyeing to have a property. It’s a place for comfort and luxury and very affordable. In Ibeju-Lekki, we have two estate locations- Ayeteju and Osoroko. Ibeju-Lekki is the new Lagos as everything on the island and mainland are moving to the area. The biggest refinery in the country and continent is being built in this axis. So it is wise that as businessmen, one positions himself around this axis for great benefits,” he explained.

    Pertinence, he further revealed, has secured about 25 acres in Lakowe, and in Osoroko, has over 200 acres. Osoroko, he disclosed, is the main project of the firm on the Island for 2018, tagging it as the VIP Garden City. For now, a plot sells for N3.5 million, but will increase once the infrastructure is in place to N10 million or more.

    “What we are selling is the future and it is better to buy the future when it is cheap and today is the time to buy the future. In Ibeju-Lekki, we are selling the future. The awareness is coming up in real estate. We have a track record of integrity,” Olorunsheyi said.

    Another Executive Director in the firm, Mr. Wisdom Ezekiel, corroborated Olorunsheyi’s position. The Lagos Island axis, he explained, produces the largest chunk of resources used in running Lagos, so it is natural that it enjoys higher patronage of government and developers. “If you are not buying land in this axis now then you are not serious about your investment. You need to position yourself for the future. You cannot have an airport, seaport, Free trade zone, refinery, all in an axis and say you don’t want to invest there, you are only wasting your time,” he said.

    He revealed that his firm chose to give out a car for the first time in its Island land promo because of the calibre of subscribers on the Island and the value of the land on offer.

  • GCF, AFC to drive low-emission development in Africa

    The Green Climate Fund (GCF) will help African countries ramp up their economic growth in ways that do not exacerbate climate change.

    This was said during the signing of an agreement with the Africa Finance Corporation (AFC), last week.

    The two organisations signed an Accreditation Master Agreement (AMA), a prerequisite for all GCF Accredited Entities to implement GCF-approved projects. AFC intends to leverage its partnership with GCF to further its low carbon emission investments in four key sectors: power, transport, heavy industries and telecommunications.

    The Chief Investment Officer of AFC, Oliver Andrews, said during the AMA signing that the consequences of climate change impacts may seriously affect the successful development of Africa’s economy.

    “AFC is, therefore, highly committed to this partnership with GCF. Not only does AFC and the GCF have shared goals, we also have shared values. For example, AFC is committed to investing in post-conflict countries and those that face structural developmental challenges. Equally, the GCF also prioritises societies that are highly vulnerable, in particular the Least Developed Countries (LDCs). As AFC is also driven by a belief in sustainable economic growth, in every sense this synergy is an excellent recipe for success,” Andrews said.

    The Director of GCF’s Country Programming Division, Pa Ousman Jarju, said AFC is well placed to support African entrepreneurs explore the vast potential for economic growth across the continent in ways that do not harm the global environment.

    “GCF activities are aligned with the priorities of developing countries through the principle of country ownership in climate finance. For instance, with the strategic injection of capital, African companies could one day lead the way in generating non-polluting energy for industry and local communities,” he said.

    AFC is financing and managing key infrastructure projects across Africa. It has invested approximately $4 billion in projects across 28 countries in a wide range of sectors including power, telecommunications, transport and logistics, natural resources and heavy industries.

  • NIESV holds two-day summit

    A two – day summit is being organised by the Lagos State Branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV); it  will hold on November 7 and 8.

    According to the branch’s Publicity Ssecretary, Mr. Richard Olodu, estate surveying and valuation profession encompasses diverse fields of specialisation, including such land, building, engineering and Business, Estate agency, iInvestment advisory, property management, facilities management, eeal estate consultancy, project development and auctioneering, among others. He however regretted that practitioners were widely known for a few of areas perceived to be lucrative.

    Olodu said the summit will endeavor to put an end to this notion with various sessions created for capacity development of all cadre of members of Institution in these various fields of specialisation. For instance, he said the Master classes will focus on professional and technical development in line with international best practice in various fields with business insight for members.

    This summit is also an opportunity to promote the various faculties of NIESV created by its national body to improve service delivery to the public in these fields of practice. It is open for every member – Fellow, Associate and Probationer – in the estate surveying and valuation practice as well as everyone who is a stakeholder in the real estate industry.

  • Lagos gives new lease of life to Epe roads

    Lagos gives new lease of life to Epe roads

    The Lagos State Government has begun the rehabilitation and upgrade of the second segment of the arterial/inner roads in Epe Local Government Area of the state.

    At a stakeholders’ meeting at the Michael Otedola College of Primary Education, Naforija, Epe, last week, the Commissioner for Physical Planning and Urban Development, Mr. Abiola Anifowoshe, said road is an integral part of the infrastructure development vision of the state government. He said with Epe Town and environs witnessing high influx of people and increased traffic as a result of industrial and commercial growth, the need for upgrading infrastructure in the area became inevitable. Already, marking of buildings that fall on the right of way and serving of statutory notices to such property owners had begun.

    According to Anifowoshe, the roads on completion, will improve road connectivity and cater for the expected traffic increase arising from industrial and commercial activities, adding that it will also eliminate potential traffic gridlock as well as enhance property value. He also revealed that the area would provide aesthetically pleasing environment that could make the area become a major transportation hub within the state as well as the adjoining states.

    “The project is in fulfilment of Governor Akinwunmi Ambode’s promise of rehabilitating all road networks in the state and ensuring even development across the state. I just want to implore our people to cooperate with the contractors and at the end, we will all enjoy the dividends of democracy,” he explained.

    Anifowoshe revealed that the ministry will establish a temporary office at Eredo area to receive any complaints from the residents. He, therefore, called on affected property owners who have titles such as building approval, certificate of occupancy or survey as well as a photograph of the affected building, to come forward with same for compensation.

    The Permanent Secretary Ministry of Works and Infrastructure, Mr. Olujimi Hotonu, said the scope of the project to include dual carriage road with a length of 13,000m and an average width of 19m, beginning from Ottin-Odomola – Poka- Mojoda (Boundary of Lagos/Ogun State) road. This segment would also include completion of the rehabilitation /upgrading of the 1,040m Prof Agbalajobi Road; Phase 1 of Aiyetoro Garage to Ita Opo Central Mosque. This will comprise asphalt surfacing with provision of drains, street lights service ducts.

    Hotonu, who was represented by an engineer in the ministry, Mr. Olanrewaju Daodu, further disclosed that the second segment would include rehabilitation of roads from Oke-Osho through Araga to Poka Junction on Epe – Ijebu Ode Road,  a dual carriageway with a length of 600m and an average width of 19m.

    The Aladesoyin of Naforija, Oba Babatunde Ogunlaja, while thanking the government for the project, advised residents and landowners to cooperate with the contractors and report any grievances to him personally, assuring that he will transmit same to the appropriate quarters. He charged the contractor to employ the residents and people in the area for the construction job.

    The Chairman, Eredo Local Council Development Area, Saliu Adeniyi, agreed with the Oba’s position and assured of the full cooperation of his administration on the project.

    The Epe roads project is being handled by Craneburg Construction Company Limited.

  • LASG, NMRC, others sign MoU for 20,000 housing units

    LASG, NMRC, others sign MoU for 20,000 housing units

    The efforts of the Lagos State government and other stakeholders in the built environment to tackle housing deficit, frontally, received a boost on Monday.

    This is coming on the heels of the signing of a Memorandum of Understanding among the Lagos State Government, the Nigeria Mortgage Refinance Company (NMRC) and a consortium of developers to build and deliver 20,000 housing units in Lagos.

    The MoU, signed by the parties, is in line with the Lagos Affordable Public Housing (L.A.P.H.) initiative of the Governor Akinwunmi Ambode-led administration, geared towards building 20,000 housing units through a joint venture initiative (JVI).

    At the signing at the state’s Ministry of Housing Secretariat, Alausa, Lagos, the Commissioner for Housing, Mr. Gbolahan Lawal, said that the ministry and the developers had initiated an arrangement with Primary Mortgage Institutions (PMI) and NMRC to facilitate the creation of mortgages for subscribers to the housing units under the LAPH initiative.

    This is because of  the prevailing economic downturn in the country which, he said, has affected the finances of most citizens and their ability to fund the purchase of a home,

    “The state government is a subscriber to NMRC by virtue of the registration of our Lagos Building Investment Corporation (LBIC) with the company and is therefore qualified to benefit from the mortgage loan refinancing roles of NMRC. The refinancing agreement will assist the supply side as well as the demand side of the value chain as it will set in motion a revolving pool of funds for mortgage origination which will assist developers and provide them access to construction finance and help scale up housing delivery,” he said.

    Gbolahan added that the LAPH home ownership initiative and the collaboration were an opportunity for the state and its residents to leverage the benefits under NMRC.

    Lawal said the refinancing agreement would also avail citizens of the affordability and accessibility the NMRC provides through the refinancing of long-term mortgages, thereby unlocking its multiplier effects on the state’s strong economy, including jobs and wealth creation.

    “Examples of the efforts include the effective re-positioning of housing provision institutions in the state and the successful implementation of the Rent-To-Own scheme which has driven the growth of the sector and enabled many Lagosians realise their dreams of affordable home ownership,” he added.

    He said the MoU would trigger a scheme that could be tagged: “Home Ownership Made Easy.”

    “I make bold to say that by this singular step, Lagos State under the administration of Governor Akinwunmi Ambode has taken another giant step towards making housing readily available and accessible for the citizens of Lagos State,” he said.

    NMRC Managing Director Prof. Charles Inyangete described the MoU as a watershed that would lead to housing revolution in Lagos State. He praised Ambode for driving the initiative through the Ministry of Housing, saying the MoU would lead to the delivery of affordable houses through the mortgage system.

    The Chairman, Brain and Hammers, Mr. Adebola Sheidu, whose firm is one of the consortium of developers, said the signing of the MoU was a major breakthrough in the housing sector. He explained that most developers had been constrained by “exit strategy” after building a house, that is, how to recoup their investment after developing mass houses.

    He said with NMRC on this initiative, mortgage would be more accessible to more Nigerians, and  developers would be able to build more houses. Sheidu noted that the more developers build, the more jobs will be created.

    “For every house built, there are seven semi-skilled workers and minimum three labourers working there. So look at the multiplier effect of this on job creation. This is aside that more Nigerians will be able to own their home at an affordable rate,” Sheidu said.

  • Indimi Foundation builds N600m housing estate for IDPs

    Relief is on the horizon for internally displaced persons in Maiduguri, Borno State as the Muhammadu Indimi Foundation, a humanitarian organisation founded by the Executive Chairman of Oriental Energy Resources Limited, Alhaji Muhammadu Indimi, is to build a N600 million solar-powered village of 100 units of 3-room houses for those displaced by Boko Haram in the state.

    The project is located in Bama, one of the worst-hit communities in Maiduguri.

    Other features include five blocks of classrooms, a fully-equipped health centre, an open-shed market,  to revive trading among the inhabitants, sport facilities for children and an incinerator.

    At the flag-off of construction works, Idimi said: “Following the trauma the people have been through, we will spare no resource to restore hope, healing, and lay a lasting foundation for growth. It is a well-known fact that our greatest strength as a country lies in our people and our resilience in the face of numerous day-to-day challenges. Through our modest activities and initiatives, we hope to contribute to the alleviation of poverty in our communities and unlock Northern Nigeria’s potential. The Muhammadu Indimi Village Bama is one of the many steps we have taken in contributing to building better lives for our people.”

    He also revealed that the foundation planned to replicate the 100-unit “Idimi Village” in Ngala Local Government Area, another community where thousands of families fled their homes and lost their means of livelihood.

    He thanked Governor Kashim Shettima for his support for the project, especially for donating the land in Bama and Ngala.

    Shettima praised the donor for his gesture, describing him as “an inspiring model of impeccable business integrity and unbounded humanitarian activities, who has continued to identify with our values, challenges and predicament.

    “We want to thank Alhaji  Indimi for his generosity of spirit and for fiercely identifying with his people. I wish to unequivocally commend this magnanimous undertaking and commitment of the Muhammadu Indimi Foundation. We deeply appreciate the humanitarian gesture of the chairman, in the resettlement of IDPs in Borno State. Alhaji  Indimi is a renowned and worthy son of Borno, indeed one of the greatest,” the governor said.

    The Muhammadu Indimi Village is due for completion in December. The focus of the Foundation is purposeful and proactive investments in education, food, shelter, crisis relief, rehabilitation and empowerment. Since inception, thousands of internally displaced persons (IDPs) and families have benefitted from these initiatives.

  • Lafarge Africa ends share reconstruction with AshakaCem

    Lafarge Africa ends share reconstruction with AshakaCem

    The Board of AshakaCem has approved the reconstruction of shares held by its shareholders in Lafarge Africa. The approval was given at the Extraordinary General Meeting (EGM) held in Abuja last Monday.

    Under the arrangement, shareholders of AshakaCem will receive 57 Lafarge Africa shares for every 202 shares held in AshakaCem shares. This development makes AshakaCem a fully-owned subsidiary of Lafarge Africa and offers its shareholders the window to liquidate their investments following the delisting of the Gombe-based cement maker from the trading floor of the Nigeria Stock Exchange last July.

    The Chief Financial Officer of Lafarge Africa, Bruno Bayet, said: “The minority shareholders of Ashaka now have the opportunity to be part of Lafarge Africa with total installed production capacity of over 14 million metric tonnes per annum and strong growth prospects.”

    For the nine-month period ended in September 2017, Lafarge Africa reported a four-fold increase in operating margins. Operating EBITDA grew to  41.7 billion while net sales increased by 39 percent to  223.7b. Despite lower ceme, the company’s turnaround plan and energy strategy delivered EBITDA margins of 30 percent. For instance, AshakaCem operations utilised 82 percent of coal over the period.

    Speaking at the EGM in Abuja, CEO of Lafarge Africa, Michel Puchercos, said: “We remain committed to Ashaka in good times and in bad times because we have a long-term view of our investments. Ashaka cement as a brand has for decades become synonymous with housing and infrastructural solutions in the entire north. We shall maintain that legacy of quality even in the face of temporary setbacks.”

    Though now a 100 percent subsidiary of Lafarge Africa, Ashaka cement will have its own board of directors. Also, sale of cement products under the AshakaCem brand will continue in the north.

  • Stakeholders move to end Apapa gridlock, port congestion

    Stakeholders move to end Apapa gridlock, port congestion

    The Minister of Power, Works and Housing, Mr Babatunde Fashola, has called for the collaboration of all stakeholders to tackle traffic gridlock, port congestion and other problems in Apapa and its environs. He made this call at a stakeholders meeting on the ongoing Apapa Wharf Road reconstruction project in Lagos, last week.

    The stakeholders at the meeting included the three financiers of the project, AG Dangote Construction Company Ltd, Flour Mills of Nigeria Ltd and Nigerian Ports Authority (NPA).

    Others were National Union of Petroleum and Natural Gas Workers (NUPENG), Association of Maritime Truck Owners (AMATO) and National Association of Road Transport Owners (NARTO), among others.

    The stakeholders, after extensive deliberations, agreed to resolve issues of logistics and regulation of truckers and port operations.

    They called on shipping companies to return to the system of using their loading bays and effective call up systems to end port congestions.

    They also  advised AP Molar Multi Terminal (APMT),  whose cargo operations take hours to emulate the operations of Port Terminal Multipurpose Ltd (PTML) who have perfected the act of evacuating cargo within minutes.

    They agreed that emergency interventions should be carried out on the roads around Coconut bus stop area and some other bad portions.

    They resolved to have another inclusive meeting to carry Shippers, government regulatory agencies and other stakeholders who were absent at the gathering along to evolve permanent solutions,

    Fashola advised the stakeholders to organise forums where they could proffer solutions to the problems and make recommendations to government to speed up solutions on various issues.

    The minister stressed the need to put other ports in the country  to use to reduce pressure on the two major ports in Apapa and promised to work with his transport counterpart, Mr Rotimi Amechi,  to involve the rail sector in finding solutions.

    He called for sacrifice on the part of the various stakeholders as the Yuletide season is approaching to ensure speedy solution to all the problems.

    “During this period when everybody is sacrificing something, let us sacrifice, it is an exchange everybody must sacrifice.

    “This is not about us, it is about everybody,” he told stakeholders.

    He explained that procurement process for the Oshodi Tin Can Island road was ongoing.

    Earlier, Fashola had inspected ongoing rehabilitation works at Costain and its environs, which he told journalists was to ensure smooth roads during the festive period.

    Honorary adviser to the Dangote Group, Mr Joseph Makoju said that Dangote was handling and co-funding the Apapa Wharf Road reconstruction project as part of its Corporate Social Responsibility (CSR).

    Makoju said that it was painful that the project was being misunderstood by both the public and a section of the media who make negative remarks against the Dangote Group instead of  commending it for giving back to society.

  • Ogun:‘We’ve paid N4b compensation’

    The Ogun State Commissioner for Works and Infrastructure, Mr. Olamilekan Adegbite, has disclosed that since the inception of the Governor Ibikunle Amosun-led administration in 2011, the state has paid over N4 billion as compensation to owners of properties that gave the right of way for road construction across the state.

    He also said the state government has decided to fix in batches the failed-portions of the Lagos-Sango-Ota-Abeokuta Road awarded by the Federal Government to Julius Berger.

    In a statement issued by the Head of Media in the ministry,  Mr. Ayokunle Ewuoso, the commissioner was quoted to have said the decision of the state government to fix the road was borne out of the fact that the suffering being experienced on the road by motorists and other road users has become embarrassing to the Ibikunle Amosun-led administration.

    Adegbite said his ministry had been mandated to fix permanently, the problem at the Toll-Gate axis of the road at Sango-Ota in the Ado-Odo Local Government Area of the state, adding that the road would be designed to accommodate drainages such that it would not be problematic anymore.

    He said: “The state government had overtime, continued to carry out palliative measures on that road and it has cost us so much money. So, His Excellency the governor has directed that we should evolve permanent solution that we can afford. Right now, we have got a mandate to fix the Toll-Gate permanently.  That is the only area we can attack for now because it is really embarrassing as we transit from Lagos to Ogun State.”

    Adegbite further stated that government had disbursed N500 million this year of the N800 million allocated in the 2017 budget, adding that the government would need an additional sum of about N3 billion to N4 billion to complete the payment.

    Emphasising that the state government was committed towards ensuring that all affected property owners were paid, Adegbite said that of N8 billon needed for compensation, property owners in the Sango-Ojodu area of the state would get the largest chunk of between N4 billion to N5 billion because modern buildings were demolished in the area to allow for right-of-way.

    The Chairman, Ogun State House of Assembly House Committee on Works and Infrastructure,  Olayiwola Ojodu, praised the commissioner and the ministry’s management team for a job well  done.  He noted that the ministry has justified the use of the money so far released to it in the year 2017 budget.