Category: Property

  • HDAN seeks urgent action over housing affordability crisis

    HDAN seeks urgent action over housing affordability crisis

    The Housing Development Advocacy Network (HDAN) has advocated for government intervention to address the growing housing affordability crisis in the nation. 

    It said the issue has made homeownership a distant dream for many Nigerians.

    Over the past few years, the housing market in Nigeria has become increasingly unforgiving. In Lagos and Abuja, two of the country’s most expensive cities, the cost of housing has jumped dramatically. 

    A one-bedroom apartment can now cost upwards of ₦25 million, a price unattainable for the majority of Nigerians.

    Even with the recent increase in the minimum wage to ₦70,000, the United Nations guideline that individuals should not spend more than 30 percent of their income on housing is virtually impossible to meet. 

    For someone earning ₦100,000 per month, this would translate to ₦30,000 for housing—a figure that is far below the actual costs. 

    “These figures have essentially erased the hope of the average Nigerian,” said HDAN  Executive Director, Festus Adebayo, 

     “The dream of owning a home has become a nightmare for many, as they are forced to grapple with a market that is simply out of their reach.”

    Several factors have also contributed to the housing affordability crisis in Nigeria, including inflation, the high cost of building materials, poor exchange rates, and high interest rates. 

    Inflation in Nigeria has been persistently high, with the rate decreasing slightly to 33.40 percent in July 2024 from 34.19 percent in June 2024. 

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    This has had a cascading effect on the cost of living, with housing being one of the most affected sectors. 

    “The cost of building materials has surged, making it increasingly expensive to construct new homes,” explained Adebayo. “Coupled with a poor exchange rate and high interest rates, the situation has become untenable for both developers and potential homeowners,” he adee. 

    The economic pressures have driven up the cost of existing homes and made it difficult for new projects to come to fruition, further exacerbating the shortage of affordable housing. 

    The result is a market where demand far outstrips supply, driving prices even higher.And even where there is supply it is only for the luxury houses meant for the very high income earners.They are not supplying for the demand is saying due to various challenges facing the sector.

    One of the key solutions to the housing crisis, according to HDAN, is the introduction of housing subsidies. 

    However, there appears to be no immediate plan from the government to implement such measures. If the current trends continue, HDAN warned that up to 70 percent of workers’ income could soon be spent solely on food, leaving little to cover other essential expenses such as rent and children’s school fees.

    “The absence of housing subsidies is a glaring gap in the government’s approach to this crisis,” Adebayo said. 

    “Without intervention, the situation will only worsen, putting even more strain on Nigerian families.”

    HDAN called on President Bola Tinubu to intervene urgently in the area of social housing. 

     While the government has announced plans for renewed hope housing – cities and estates projects, HDAN warned that these efforts may not adequately address the needs of those who are most affected by the crisis.

    The organization commended the efforts of  Minister of Housing and Urban Development,  Ahmed Dangiwa over the past year, noting that his understanding of the sector is crucial at this time. 

    “President Tinubu has an opportunity to make a significant impact by addressing the housing affordability crisis head-on,” said Adebayo. 

    “Around the world, provisions are made for the poor, and Nigeria should be no different. We need subsidies, tax rebates, and infrastructure support to make housing more affordable for all Nigerians.” 

    He added: “Politicians need to understand that housing is not just another issue—it is the issue,” said Adebayo. “The affordability crisis affects every aspect of life, from economic mobility to social stability. It’s time for our leaders to take bold steps to ensure that every Nigerian has access to affordable, quality housing.”

  • Collapse: Dangiwa urges valuers’ involvement in buildings’ post-construction phases

    Collapse: Dangiwa urges valuers’ involvement in buildings’ post-construction phases

    The Minister of Housing and Urban Development, Ahmed Dangiwa, has urged estate surveyors and valuers to get involved in both the design and post-construction phases of building projects.

    Dangiwa, an architect, made the charge on Wednesday in Abuja, at the 2024 Valuers’ Assembly, organized by the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON). 

    The minister, who expressed concern about the spate of building collapses in the country, said checkmating the menace was not solely the responsibility of designers and constructors, as misuse of buildings by occupants has been one of the factors.

    “Imagine if a hall on the first or second floor of a building meant only to be an open office space is converted into a gym or used for another purpose. You are overstretching the structural stability of the building, and this is bound to lead to a collapse,” Dangiwa explained.

    Dangiwa urged the assembly to develop actionable measures to promote excellence in the profession, safeguard the integrity of the field, and protect lives and investments.

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    “As you deliberate in this assembly, it is my hope that you will come up with actionable measures to promote excellence in estate surveying and valuation,” he said.

    The minister, who spoke on “Valuation as a Tool for Revamping the Economy – The Role of Estate Surveyors and Valuers,” also highlighted the importance of thorough property inspections and assessments in ensuring the safety and sustainability of buildings.

    Dangiwa stressed that valuers are indispensable in the successful delivery of affordable housing across Nigeria.

    “Your professional expertise ensures that land and property values are accurate and reflect fair market values, which is crucial for the state to provide cost-effective housing solutions,” he stated.

    He urged the professionals to ensure that property inspections and assessments adhere to professional standards.

    As part of the measures the Federal Government had taken, the Minister said he had directed the establishment of a committee under the ministry to investigate a building collapse, noting that estate surveyors and valuers are integral to this effort.

    “Your past projects have even confirmed to us that estate surveyors and valuers have a role to play in curbing building collapse,” he said.

    Meanwhile, estate surveyors and valuers across Nigeria reaffirmed their commitment to upholding professional standards and ethics in the real estate industry.

    In his opening address, the board’s chairman, Dosu Fatokun, emphasised the critical role that estate surveyors and valuers play in Nigeria’s economic development.

    He highlighted the importance of the profession, especially in the current economic climate marked by high inflation and uncertainty.

    “Your expertise in valuation is not just a technical skill but a vital tool for economic revitalization, especially in these challenging times,” Fatokun stated.

    He further stressed that the Assembly was not just a gathering but “a unique platform for us to reaffirm our commitment to standard professionalism, ethics, and integrity.”

    Fatokun urged the attendees to leverage the Assembly as an opportunity to network, share knowledge, and collaborate on innovative solutions that would propel the profession and the nation forward.

    “This is where our inspiration and motivation to uphold these standards should be reignited,” he said.

    The Assembly also focused on the significant role of estate surveyors and valuers in supporting the Federal Government’s efforts to drive economic growth and provide affordable housing for Nigerians.

    “By making ourselves available for services within the states where we operate, we can support the government’s effort to provide a robust economy and affordable housing for all Nigerians,” Fatokun added.

    Addressing the need for continuous professional development, Fatokun urged all registered surveyors to pay close attention to the discussions and presentations throughout the Assembly.

    He emphasised the importance of accruing Continuing Education Units to renew practice licenses in 2025.

    “Let us all commit to continuous learning and professional development as we strive to elevate our profession and contribute to our nation’s economic prosperity,” he encouraged.

    In his remarks, the Chairman of the Professional Practice Committee, Stephen Jagun, reiterated the importance of ethics and integrity in the profession.

    He noted that the Assembly provided a platform for knowledge sharing, collaboration, and growth.

    The keynote address by Felix Ohiwerei, titled “Leading with Integrity: The Intersection of Ethics, Personal Growth, and Corporate Success,” reechoed the intersection of ethics, personal growth, and corporate success.

  • Novarick Homes celebrates sixth anniversary, unveils new vision

    Novarick Homes celebrates sixth anniversary, unveils new vision

    Novarick Homes has celebrated its sixth anniversary in Lagos with announcement of new plans for clients. 

    Its CEO Noah Ibrahim expressed  gratitude and excitement on the milestone. 

    “We are thrilled to mark the 6th anniversary of Novarick Homes and reflect on the remarkable achievements we have accomplished during this journey. 

    “Our success has been driven by the dedication of our team, the support of our clients, and the partnerships we have forged. It is their trust and support that have propelled us forward,” Ibrahim stated.

    Novarick Homes has been named one of Business Day’s Top 100 Fastest Growing SMEs in Nigeria in 2022 and received the Africa’s Best World Class Real Estate Development Company award at the 8th African Quality Achievement Awards. 

    Looking ahead, Ibrahim said: “We have studied the real estate ecosystem closely and identified key areas that affect the journey of homeownership. Our new direction is about more than just selling properties; it’s about ensuring that our clients enjoy a high quality of life in their new homes, with access to essentials like reliable electricity, clean water, quality education, and more.”

    This rebranding effort aims to address not just the physical aspects of home ownership but also the broader needs that contribute to a comfortable and fulfilling lifestyle.

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     By leveraging technology and embracing innovative solutions, Novarick Homes plans to launch new initiatives that tackle these core challenges, ensuring that living in a Novarick property means a holistic, high-quality living experience.

    With a customer base of over 2,000 loyal clients and more than ten trusted partners, Novarick Homes continues to be a leading name in the Nigerian real estate market. 

    As the company moves forward, it remains committed to reshaping the real estate landscape in Africa by blending ancient wisdom with modern intelligence to provide smart, sustainable solutions.

  • Novarick Homes celebrates sixth anniversary, unveils new vision

    Novarick Homes celebrates sixth anniversary, unveils new vision

    Novarick Homes has celebrated its sixth anniversary in Lagos with announcement of new plans for clients. 

    Its CEO Noah Ibrahim expressed  gratitude and excitement on the milestone. 

    “We are thrilled to mark the 6th anniversary of Novarick Homes and reflect on the remarkable achievements we have accomplished during this journey. 

    “Our success has been driven by the dedication of our team, the support of our clients, and the partnerships we have forged. It is their trust and support that have propelled us forward,” Ibrahim stated.

    Novarick Homes has been named one of Business Day’s Top 100 Fastest Growing SMEs in Nigeria in 2022 and received the Africa’s Best World Class Real Estate Development Company award at the 8th African Quality Achievement Awards. 

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    Looking ahead, Ibrahim said: “We have studied the real estate ecosystem closely and identified key areas that affect the journey of homeownership. Our new direction is about more than just selling properties; it’s about ensuring that our clients enjoy a high quality of life in their new homes, with access to essentials like reliable electricity, clean water, quality education, and more.”

    This rebranding effort aims to address not just the physical aspects of home ownership but also the broader needs that contribute to a comfortable and fulfilling lifestyle.

     By leveraging technology and embracing innovative solutions, Novarick Homes plans to launch new initiatives that tackle these core challenges, ensuring that living in a Novarick property means a holistic, high-quality living experience.

    With a customer base of over 2,000 loyal clients and more than ten trusted partners, Novarick Homes continues to be a leading name in the Nigerian real estate market. 

    As the company moves forward, it remains committed to reshaping the real estate landscape in Africa by blending ancient wisdom with modern intelligence to provide smart, sustainable solutions.

  • Atiku hosts business tycoon Omoha Nduka in Abuja

    Atiku hosts business tycoon Omoha Nduka in Abuja

    Former Vice President Atiku Abubakar on Thursday hosted a notable Nigerian entrepreneur and investor, Prince Omoha Nduka, the Chief Executive Officer (CEO) and Chairman of Prince Luxury Group (PLG) at his Asokoro residence in Abuja.

    The meeting between the Turakin Adamawa and the celebrated entrepreneur, according to sources, was strictly business in nature  without any political undertone. 

    Although the businessman elected to be mum on much of what was discussed at the meeting, he hinted on what it was all about. 

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    He said: “I had the honor of being hosted by Former Vice President Alhaji Atiku Abubakar, GCON, for a profound discussion on the critical importance of investing in Nigeria’s younger generation and fostering leadership development. 

    “Our shared vision for an empowered and prosperous future, driven by a commitment to strategic partnerships and investment, serves as a powerful catalyst for transformative change. This meeting has reinforced our determination to collaborate on impactful projects that will not only pave the way for a brighter future but also significantly enhance the growth and stability of our nation’s economy.”

  • How Godswill Igbokwe is touching lives through real estate

    How Godswill Igbokwe is touching lives through real estate

    Building lives is at the core of what it means to be an entrepreneur, especially in the real estate industry. 

    As cities expand and populations grow, the role of real estate developers becomes pivotal in shaping communities and providing the infrastructure that supports daily life.

    For Godswill Igbokwe, founder and CEO of Alphalink Group, a Pan-African conglomerate with interest in Engineering, Procurements and Real Estate Services, the responsibility goes beyond constructing buildings; it’s about creating environments where people can thrive. 

    “At Alphalink, we don’t just build structures; we build futures,” Igbokwe states, emphasizing the long-term vision that drives his company’s operations.

    With a focus on quality, integrity, and customer satisfaction, Igbokwe has positioned Alphalink as a leader in the Nigerian real estate sector, setting new standards for excellence.

    Igbokwe’s journey with Alphalink  has been marked by overcoming significant challenges, from gaining the trust of clients and partners to navigating the complex regulatory landscape in Nigeria.

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    “When I started Alphalink, one of the biggest challenges was gaining the trust of potential clients and partners, especially in an industry where credibility is paramount,” he recalls.

    Despite these hurdles, Igbokwe’s commitment to quality and his strategic approach to business have allowed Alphalink to grow from a dealer in Cummins power generators to a diversified conglomerate with thriving subsidiaries in real estate development.

    His leadership has been instrumental in the company’s expansion, particularly with the launch of Starquest Courts, a residential real estate venture aimed at creating wealth for investors through innovative strategies and a client-centered approach.

    Technology has also played a crucial role in transforming Alphalink’s operations, reflecting the broader changes within the real estate industry.

    “Technology is revolutionizing the real estate sector in numerous ways,” Igbokwe notes, highlighting how digital platforms, smart home systems, and data analytics are enhancing efficiency and transparency in property management and transactions.

    Under Igbokwe’s leadership, Alphalink has embraced these technological advancements, enabling the company to offer services like virtual tours and remote property management, which have become increasingly important in today’s digital world.

    With an excellent  business outlook,Igbokwe continues to drive Alphalink’s  growth, ensuring that the company remains at the forefront of innovation in the African business terrain. 

  • Those needless deaths from building collapse

    Those needless deaths from building collapse

    Building collapse has become rampant in Nigeria, so much so that the news of another collapse doesn’t make anyone screech. There have been reported cases in almost every state with the government coming up with a hurried knee-jerk response. Still, none has been as touching as the recent school building that collapsed in Jos, the Plateau State capital, where 22 children died and 132 others were rescued and hospitalised. Reported cases of building collapse in Abuja, Anambra, Kano, Abia, Imo and Lagos underscore the seriousness of the issue. Essentially, public discourse has been on who should take the blame and responsibility when such an incident occurs. However, there seems to be a general opinion that never-ending building failure is due to corruption and regulatory and governance failure. OKWY IROEGBU-CHIKEZIE reports.

    Saint Academy building in Jos, the Plateau State capital, caved in while students were writing their examinations. Volunteers used excavators, hammers and their bare hands to break through the piles of concrete and twisted iron rods to reach many of those trapped in the rubble.

    Police told reporters that at least 22 children died as a result of the collapsed building; with many more who received treatment in the school believed to have been more than 1,000 pupils.

    The Plateau State Government said an investigation has been initiated, even as they cited the school’s “weak structure and unsafe location near a riverbank,” advising other schools “with structural concerns” to close immediately.

    “The United Nations Children’s Fund (UNICEF) Nigeria Representative, Cristian Munduate, lamented that she was “devastated by the tragic loss of young lives at Saint Academy.”

    She regretted that the children were full of dreams before the school building collapsed, resulting in their deaths. She urged for more proactive actions from the government to prevent future occurrence of such incident.

    There have been several major building collapses in Nigeria in recent years, with stakeholders blaming it on a mix of bad workmanship, poor quality materials, regulatory failure and corruption.

    In 2021, at least 45 people were killed when a high-rise building under construction collapsed in Ikoyi, a Lagos neighbourhood.

    There have also been several reports of buildings collapsing and leading to loss of lives in different parts of the country.

    Studies reveal that lack of implementation of proper regulatory policies and the implementation of such policies rank high.  It’s common to see developers or individuals who get approval to build a bungalow from the Town Planning Office but end up building something different.

    For instance, an approval for a bungalow can be converted to a three-storey building and can be developed without the agencies of government checking the gross infraction that may lead to building failure and loss of lives.

    Questions have been asked on why government agencies, for instance, mark buildings with oxide colour signalling the building is in contravention just to attract the attention of the owner “to see them and do something if the building construction must be allowed to continue.”

    The Standard Organisation of Nigeria (SON) has not been able to check the influx of fake and substandard building materials into the market as it’s almost impossible to find building materials market free of a huge percentage of fake and substandard building materials. All these contribute to frequent building failures because those that are supposed to ensure that our markets are free of these fake products have allegedly been compromised.

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    Though building collapse happens in about every state in the country, Lagos State seems to top the ignoble list.  The recent collapse of a three-storey building under construction at No 13, Wilson Mba Street, Arowojobe Estate, Mende in Maryland, Lagos in the early hours of  Thursday, July 25 2024 that led to the death of five people has raised anxiety in the building and environment sub-sectors.

    In an open letter to Governor Babajide Sanwo-Olu, a group, the Building Collapse Prevention Guild (BCPG) said the premature death of residents as a result of building collapses should not be condoned.

    The letter signed by the Kosefe Cell Coordinator and Secretary, Adesoji Adeniji and Abdufattah Balogun respectively, the group, comprising the seven professionals in the building and environment sub-sectors such as builders, architects, engineers, estate surveyors, quantity surveyors, surveyors and town planners reads: “We are emotionally pained by this incident because the government officials have been monitoring building construction in this estate, complementing our relentless advocacy against building collapse.”

    They called for an investigation of the collapsed building to prevent the recurrence of building collapses, especially those that are being constructed and those that have recently been completed.

    The letter further reads: “The existence of wetlands within the Kosofe Local Government Area as a result of its nearness to the Lagoon has been a difficult challenge to physical development. Therefore, any building that would stand the test of time in this weak terrain must have a special foundation, especially pile foundation.  Unfortunately, some of the methods of construction being adopted here were sub-standard, leading to sinking and tilting of some buildings.

    “The BCPG Kosofe Cell has consistently advocated the necessity of thorough geotechnical investigations, given the challenging soil conditions in our jurisdiction. We have repeatedly emphasised the importance of conducting proper soil investigations prior to selecting foundation types and ensuring that building developers adhere to established standards during the construction phase, as highlighted in our seminars and workshops.

    “Following our visit to the collapsed building site, we made some observations that raised several critical concerns, warranting investigation by the state government to establish the actual cause(s) of this particular building collapse and recalibrate the integrity of the construction sector.

    “The building was reported to be at the finishing stage when it collapsed, with damaged roof members and plumbing materials observed. Newly constructed pile caps were seen on site, raising questions about the construction practice employed. Moreover, there were other occupied buildings in the vicinity with visibly tilted walls and columns. These structures ought to be inspected immediately by both the Lagos State Building Control Agency (LASBCA) and Lagos State Materials Testing Laboratory (LSMTL) to prevent another potential collapse.”

    The group posed some questions to spur relevant authorities of government to action. Such questions included the site where the new piles and pile caps were constructed, methodology employed in the construction of the new piles if they were indeed newly constructed and if the chosen methodology contributed to the collapse of the structure.

    They observed that LASBCA has a well-defined stage approval and certification process, along with a technical audit of on-site works and therefore asked when the last stage of certification was conducted, the timeline for the construction activities, commencement date, dates of installing the new piles and concreting pile caps including  the time of the collapse.

    Furthermore, they requested to know where the quality test results for the concrete and materials used in the construction of the collapsed structure were done and if the Lagos State Materials Testing Laboratory took note of the questionable quality of concrete used in the building.

    In their recommendation, they canvassed a non-destructive testing (NDT) of adjoining buildings; conduct NDT on all visibly tilting buildings within the estate, particularly around the collapsed building site, to prevent further incidents, as signs of distress have been observed.  They also hinted on the need for the assessment of the strength and stability of these structures in relation to the soil properties in the area.

    While calling for the verification of previously-submitted soil investigation reports, they noted that soil investigation reports are a critical requirement for construction in the state. They urged Governor Sanwo-Olu to verify the geotechnical surveys submitted for the collapsed building and adjacent structures to understand the soil properties and conditions.

    The letter urged that negligence or poor investigation regarding geotechnical recommendations should attract severe penalties.

    Further in their demands, they asked for forensic reporting of fatal building collapses based on the fact that rescue operations can disrupt credible evidence of building collapse causes and recommended that forensic investigations be conducted concurrently with rescue operations.

    According to them, the multi-disciplinary approach will help in exposing any malpractice in the industry and mitigate the activities of unqualified practitioners. This will also make unequivocal the political will, not only to take over sites of collapsed buildings but to punish the avoidable crimes against humanity.

    Calling for accountability and training, the group said, in addition to exposing malpractice, significant penalties should be imposed for any man-made errors in the construction process. They advised the Lagos State Building Control Agency (LASBCA) to train its staff to perform thorough technical audits of ongoing projects.

    They insisted that construction projects in the state must adhere to both local and international building standards which ensure the use of quality materials and proper construction techniques, also reiterating why it is necessary for public officials to avoid corruption in their monitoring activities.

    BCPG also canvassed the need for government agencies to carry out regular and rigorous inspections throughout all phases of construction, issuing stage certifications only after confirming compliance with the established standards and codes.

    During these inspections, the safety audit and online ratings of contractors with projects in the state should be evaluated weekly and made public. The status and activities of building monitoring agencies at any site should also be transparent while construction companies must be held accountable for the safety and integrity of their buildings, with mechanisms in place to penalise non-compliance and reward adherence to safety standards, the statement added.

    Highlighting quackery in the design and supervision of construction works, they suggested that the government should establish a database for individuals authorised to carry out construction activities within the state.

    According to them, a comprehensive list of all licensed professionals practising in Lagos must be maintained and their years of experience. The competence, roles, and responsibilities of all stakeholders involved in the construction process should be documented.

    Developers, construction companies, professional consultants, and relevant government agencies must demonstrate their competence and experience, participating at their own risk in any construction projects.

     Issues related to design indemnity, contractors’ all-risk insurance, and workers’ compensation policies, as well as the developers’ competence and budget adequacy for the works, should be thoroughly assessed before construction permits are granted with the reevaluation of the actual role and impact of the Lagos State Safety Commission on building sites.

     This simultaneous multi-disciplinary approach will help in exposing any malpractice in the industry and mitigate the activities of unqualified practitioners within the state.

     This, according to them, will also make unequivocal the political will, not only to take over sites of collapsed buildings but to punish the avoidable crime against humanity.

     In addition, construction companies must be held accountable for the safety and integrity of their buildings, with mechanisms in place to penalise non-compliance and reward adherence to safety standards.

     In conclusion, the letter stated that it’s apparent that the latest incident of building collapse in Kosofe underscores significant failures in construction practices and regulatory oversight functions.

     “We, therefore, urge your esteemed office to consider these recommendations seriously and to initiate a government probe into the systemic issues contributing to these tragedies. Collaborative effort among governmental agencies, construction companies, and the community is required to ensure adherence to safety standards and accountability at all levels.”

     The Chief Executive Officer of Nigerian Building and Road Research Institute (NBRRI), Samson Duna attributed frequent building collapses to the use of sub-standard materials among others.

     According to Duna, 80 percent of building collapses happen during the rainy season due to some natural causes in addition to the use of sub-standard materials.

     On the way forward, he recommended training and retraining of engineers and professionals in the construction sector.

      He advised that the government and professional bodies should sensitise the general public to the steps to follow when embarking on building projects.

     He said: “All professional bodies should strengthen their arm of monitoring, to ensure they function effectively during project supervision. The professionals must be involved in monitoring and evaluation of building projects and funds for the supervision should be incorporated in the cost of the project.”

     The President of the Council for the Regulation of Engineering in Nigeria (COREN), Prof. Sadiq Zubair Abubakar said there was a need for stakeholders to synergise to address the challenge of building collapse.

     “The construction environment needs to be well organised and structured to do this and COREN has set up 10 committees to look at 10 sectors in this regard,” he said.

  • Oyo govt compensates Ajia property owners with N513.4m

    Oyo govt compensates Ajia property owners with N513.4m

    Oyo State Government has begun the payment of compensation to owners of the affected properties at Ajia Inukan Local Council Development Area (LCDA), Ona Ara Local Government.

    Commissioner for Lands, Housing and Urban Development, Mr. Williams Akin-Funmilayo, spoke while meeting the claimants.

    He recalled that the government recently acquired an expanse of land for developmental projects of construction of Air Force Base, General Hospital and ICT centre, with the projects sited at Ajia in Ona Ara Local Government.

    He said the state government had earmarked N513, 462, 446. 50k as compensation to the affected claimants.

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    The compensation, according to Akin-Funmilayo, is a crucial step towards fostering good relationship between the government and the residents.

    The state government had conducted identification and verification for the property owners along the corridor of the project, after which their properties were valued in preparation for payment of compensation.

    One of the beneficiaries, Mr Adedokun Olalekan, thanked Governor Seyi Makinde for his empathy towards the affected residents.

  • UK property expert Daniel Moses wins African Icon Award

    UK property expert Daniel Moses wins African Icon Award

    UK property expert and entrepreneur, Dr. Daniel Moses, has been honored as one of the 100 Most Notable Icons in Africa.

    Daniel Moses, who is regarded as a beacon of wealth creation and entrepreneurship on the African and overseas, was bequeathed the award at a colourful and well attended ceremony in Rwanda.

    Remarkably, Daniel Moses, a native of Edo State, was not the only Nigerian to be accorded the global honour.

    Former President Goodluck Jonathan and Zamfara Governor were also decorated with laurels.

    Reacting to being recognised as one of the 100 Most Notable Icons in Africa, Daniel Moses’ journey from modest beginnings to global influence is a powerful testament to resilience, vision, and unwavering faith, said he was deeply humbled and honoured with the award

    “It is with a deep sense of gratitude and humility that I accept this global award and I thank the organisers for seeing the little things that I have been doing by way of helping people to create wealth and build entrepreneurship bases of many young individuals in Africa, UK and other countries”, said Daniel Moses.

    Daniel Moses, who has distinguished himself not only as one of London’s finest property developers but also as the founder of the Wealth and Business Club, said he was committed to creating a new generation of wealthy entrepreneurs globally.

    Interestingly, this influential platform by Daniel Moses has empowered more than 1,000 individuals, transforming their financial trajectories and fostering entrepreneurship in property and business. His ability to turn challenges into opportunities has made Daniel Moses one of the most sought-after mentors for those eager to acquire assets, build property portfolios, and generate income both in the UK and internationally.

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    Dr. Daniel Moses’s impact is not restricted to Europe as he is now taking his message across Africa, sharing his expertise in real estate and wealth creation. His objective is to inspire a new generation of African entrepreneurs to build sustainable wealth through property investment. Recognizing property as one of the most reliable and lucrative sources of income worldwide,, Daniel Moses is committed to leading others in building robust portfolios that can withstand economic fluctuations.

    As Daniel Moses expands his influence, he stands as a catalyst for change, empowering Africans to seize opportunities and create lasting legacies. His work is not just about building wealth; it’s about fostering a mindset of resilience and excellence, essential qualities for anyone looking to succeed in today’s competitive landscape.

    Speaking in a recent interview, Daniel Moses said for those looking to build wealth beyond the shores of Nigeria, the way forward is to contact him.

    He said: “My journey, achievements, and mission to empower others makes me a formidable force in the world of property and entrepreneurship. As Africa stands on the brink of a new era of economic empowerment, I am leading the charge, inspiring countless individuals to dream big, act boldly, and achieve greatness.”

  • How Nigeria can tackle politics of housing supply, by Mosadoluwa

    How Nigeria can tackle politics of housing supply, by Mosadoluwa

    The chairman of Harmony Gardens and Estate Development Limited, Saheed Mosadoluwa, has urged the federal government to come up with effective solutions to address the challenges of housing supply and policies in the country.

    Mosadoluwa pointed out that as the nation approaches a population of 240 million, it is facing a severe housing crisis that is posing significant challenges to its economic stability and social fabric.

    He emphasized the urgent need for a comprehensive approach to bridge the growing housing deficit in the country.

    Mosadoluwa also noted that over the past seven years, Nigeria has experienced an average annual population growth of 389,000, yet both federal and state authorities have struggled to keep up with the increasing demand for housing.

    He said the ‘Renewed Hope’ Housing Initiative, was a step in the right direction but remains inadequate in addressing the medium to long-term supply shortages.

    “The stark reality is that fewer houses lead to skyrocketing prices, exacerbating affordability challenges for millions of Nigerian citizens.

    “The consequences are dire: higher prices, affordability challenges, and a widening gap between demand and supply.

    “It’s time to acknowledge the politics of economic instability, which has discouraged investment in housing. Rising interest rates and high construction costs have tempered short-term demand and construction,” he said.

    Mosadoluwa emphasised that it was time to transcend the political ramifications of economic instability that have hindered investment in housing.

    He added that rising interest rates and escalating construction costs have tempered both short-term housing demand and construction activities, leaving many potential homeowners in limbo.

    According to him, at the recent Bridging Housing Deficit Summit 2024 held at Harmony Gardens Lekki-Epe expressway, industry leaders and stakeholders gathered to discuss sustainable housing policies that could serve as a foundation for the next four federal elections.

    “The summit underscored the complexity of Nigeria’s housing deficit, which is unlikely to dissipate without concerted efforts from all sectors.

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    “Cyclical and structural challenges abound, but the best policy approach is to restore long-term balance in market indicators.

    “Government engagement with private developers and foreign investors is very crucial.

    “The government at all levels must engage in meaningful dialogue with private developers and foreign investors.

     “The cyclical and structural challenges in the housing sector require collaboration and innovative solutions.

    “The summit illuminated the multifaceted nature of Nigeria’s housing crisis, revealing that the best policy medicine involves restoring long-term balance in key market indicators.

    “This includes re-evaluating financing mechanisms, incentivizing private investment, and streamlining bureaucratic processes that often delay construction projects,” he added.

    Mosadoluwa said that as the country prepares for future elections, the urgency of addressing the housing deficit could not be overstated.

    He added that political leaders must prioritise housing as a critical component of national development, recognising its implications for economic growth, social stability, and overall quality of life for citizens.

     “We need to fasten our seat belts and prepare for a long ride,” he cautioned.

    The chairman said that the size of the housing problem is daunting, but with collaborative efforts and a commitment to sustainable development, there is hope for a brighter future.

    “In conclusion, Nigeria stands at a crossroads where the intersection of economics and politics will shape its housing landscape for generations to come.

    “It is imperative that all stakeholders come together to forge a path toward sustainable housing solutions that can accommodate the nation’s growing population while fostering economic resilience.

    “The size of the housing problem demands a comprehensive solution. The time for action is now; the future of Nigeria’s housing supply depends on it.”