By Oziegbe Okoeki
Lagos State Governor Babajide Sanwo-Olu has said the regeneration of Lagos Island Central Business District (CBD) begun by former governor Asiwaju Bola Ahmed Tinubu is on course.
He spoke at the weekend at the inauguration of the Afriland Towers at Broad Street, Lagos, owned by Heirs Holding Group and the United Bank for Africa.
Formerly called Raymond House, the building was redesigned, restructured and renovated by Afriland Properties, the real estate arm of the Heirs Holdings Group owned Mr. Tony Elumelu.
Governor Sanwo-Olu said that the redesigning and renaming of the building, which is in the heart of the Lagos Island Business District, is part of the regeneration programme of the Island Central Business District started by the administration of ex-governor Tinubu in the early 2000.
Said he: “Many of you here are witnesses to the tragic decline of Lagos Island, in the 1980s and 1990s; necessitating the launch of a regeneration programme in the early 2000s by the administration of former governor Bola Ahmed Tinubu.
“Successive governments, I am pleased to note, have followed up on and continued the implementation of that initiative. So, I must say that I am the lucky beneficiary of a solid legacy, and I remain fully committed to the implementation of the CBD master plan.
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“We have since seen a heart-warming reversal in the fortunes of Lagos Island. From the revitalisation of City Hall, Campos Square, Tinubu Square, to the development of Freedom Park, to name a few, the last two decades have brought back a lot of the lost glory of the Island.”
Sanwo-Olu noted that Afriland Properties has written its name in gold with “this contribution to the revival narrative of Lagos Island, through investment in this magnificent structure.”
“Broad Street, where this building is located, is the very heart of the Lagos Island Business District; our very own
Wall Street. In its heyday, it was the epicentre of Nigeria’s financial system. Even today it continues to house
important financial industry landmarks such as the Stock Exchange and the headquarters of several leading institutions, including that of the United Bank for Africa (UBA) PLC.
“I would like to specially thank Afriland Properties and Heirs Holding for this extensive renovation effort; a fitting
tribute to an important landmark. You have no doubt invested a lot of resources in this, in the process
creating jobs and benefiting the local economy in multiple ways.
“Every project of this nature requires large amount of skilled and unskilled labour; construction workers from
fields. The money you have spent has gone into the Lagos economy and touched lives.
“Very importantly, this investment is a vote of confidence in the present and future potential of Lagos Island. You have sent a strong message to other
investors and players in the economy, that Lagos Island, and Lagos by extension, is worth investing in. You have contributed to an improved image for this Central Business District and for Lagos Island as a whole.
“The high quality of the work done is exactly what we have come to associate with Afriland Properties. I am told that
this renovation has been done with great consideration for the environment. We have here before us a unique mix of old and new elements: 21st century design thinking brought to bear on a property immersed in history,” he said.
According to him, “Raymond House is among a class of iconic buildings that have adorned the skyline of Lagos Island and defined its
character for many decades, in some cases, centuries. Names such as Godstone House, Caxton House, Wilberforce House, Manchester House and others come to mind.
“Many of them are sadly no longer standing today. Raymond House, which will henceforth be known as “Afriland Towers”, has stood on this site since the 18th century, and has been a first-hand witness of the evolution of Lagos through ages and periods. If
a building can speak, it will tell us countless interesting stories about this great city of ours.”
The governor said what Afriland Properties had achieved with the renovation was a demonstration of what was possible when the private sector was ambitious and supportive.
He added: “We look forward to even more significant development interventions from you in the years ahead.
“I urge other private sector players to emulate this laudable investment. Lagos State under my watch will continue to remain committed to partnering and supporting the private sector to deliver our vision of creating a greater Lagos, a Lagos that works for all of us and not just a few.”
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