nigerian – 9japroperty https://9japroperty.com.ng All you need to know about properties Mon, 14 Nov 2016 08:32:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.15 Nigerian cities’ contribution to economy low – FG https://9japroperty.com.ng/nigerian-cities-contribution-economy-low-fg/?utm_source=rss&utm_medium=rss&utm_campaign=nigerian-cities-contribution-economy-low-fg https://9japroperty.com.ng/nigerian-cities-contribution-economy-low-fg/#respond Tue, 15 Nov 2016 09:16:28 +0000 http://9japroperty.com.ng/?p=5448 The Federal Government has lamented the low contribution of Nigerian cities to the economy, compared to those in developed and emerging countries, stating that this is unacceptable. It attributed the situation to the current city management style, which it said should be reviewed as it was not working. The Minister of Power, Works and Housing, […]

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The Federal Government has lamented the low contribution of Nigerian cities to the economy, compared to those in developed and emerging countries, stating that this is unacceptable.

It attributed the situation to the current city management style, which it said should be reviewed as it was not working.

The Minister of Power, Works and Housing, Babatunde Fashola, said this at the 50th anniversary and 47th Annual General Meeting of the Nigerian Institute of Town Planners in Abuja, with the theme, ‘Promoting Liveable Settlements’.

The minister observed that the cities were bogged down by a myriad of hindrances to economic growth, including dilapidated infrastructure, slum growth, transport gridlocks, poor housing, urban poverty, and dismal sanitary conditions.

Fashola said, “With the current urbanisation, Nigeria’s population stands at the threshold of becoming predominantly urban in the near future, having more than 800 urban settlements, including the Lagos mega city with about 15 million people, and about 10 other millionaire cities and so many intermediate cities.

“Indeed, it is estimated that by 2050,about 60 per cent of sub-Saharan Africa will be urban with Nigeria dominating the scene. The scenario is, however, worrisome, bearing in mind that the contribution of our cities to the growth of the economy is embarrassingly low, when compared with examples in developed and other emerging nations.”

Fashola explained that as part of strategies to make the cities and towns liveable, inclusive and sustainable, the Federal Government has launched fresh attempts to confront urbanisation along different fronts.

At the policy front, the minister said the government had successfully pursued the process of reviewing, revalidating and adopting the National Housing and National Urban Development policies.

He stated that his ministry had produced six designs of one-bedroomed, two-bedroomed and three-bedroomed flats, bungalows and condominiums to represent the Nigerian house.

The acting President, NITP, Mr. Luka Achi, in his welcome address, called for the implementation of the 1992 urban and regional planning law “in which the national urban and regional planning commission, state urban and regional planning development boards and local planning authorities are properly constituted.”

He argued that the non-inclusion of physical planning on the concurrent list of the constitution had created a gap in the planning hierarchy.

PUNCH.

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Nigerian construction expert, others remodel US president’s house https://9japroperty.com.ng/nigerian-construction-expert-others-remodel-us-presidents-house/?utm_source=rss&utm_medium=rss&utm_campaign=nigerian-construction-expert-others-remodel-us-presidents-house https://9japroperty.com.ng/nigerian-construction-expert-others-remodel-us-presidents-house/#respond Mon, 24 Oct 2016 13:44:34 +0000 http://9japroperty.com.ng/?p=5258   United States of America-based Nigerian construction expert, Lawrence Dibor, has disclosed that he was among a consortium of professionals involved in the design and construction of the President’s House, a monument in the history and administration of the US. According to Dibor, the house is a memorial located in the Independence Square in the […]

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United States of America-based Nigerian construction expert, Lawrence Dibor, has disclosed that he was among a consortium of professionals involved in the design and construction of the President’s House, a monument in the history and administration of the US.

According to Dibor, the house is a memorial located in the Independence Square in the city of Philadelphia, on the site of a building that served as both residence and office for President George Washington in the 18th century and President John Adams during the first two years of his term.

“At that time, Philadelphia was the capital of the United States. The site embodies a profound contradiction during the infancy of the United States, the same home that witnessed the birth of a free nation and its first steps toward democracy,” Dibor said in a statement.

He added that the house was surrounded by the Independence Visitor Center, Constitution Center, Independence Hall, Benjamin Franklin House, first US Post Office and the Betsy Ross House.

 

Dibor said the civil engineering and construction administration of the project were performed by his firm, Adcon Consultants.

He said, “The President’s House is a historical site with a place of pride in the history of America. It brings me great joy and honour to be part of the history of contributing our civil engineering knowledge and experience to creating a monument that is in line with modern construction projects.”

PUNCH.

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The Issue of Exorbitant Service Charge in Nigerian Real Estate https://9japroperty.com.ng/the-issue-of-exorbitant-service-charge-in-nigerian-real-estate/?utm_source=rss&utm_medium=rss&utm_campaign=the-issue-of-exorbitant-service-charge-in-nigerian-real-estate https://9japroperty.com.ng/the-issue-of-exorbitant-service-charge-in-nigerian-real-estate/#respond Wed, 18 Nov 2015 09:09:27 +0000 http://9japroperty.com.ng/?p=3927 Service charges are the amounts levied on the tenants by the landlords to cover for extra facilities or services they may provide. These services may include provision of generator, general cleaning of the compound, installation of Air conditioners, gardening or general maintenance. In most new Houses and Apartments for rent, these service charges could reach […]

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Service charges are the amounts levied on the tenants by the landlords to cover for extra facilities or services they may provide. These services may include provision of generator, general cleaning of the compound, installation of Air conditioners, gardening or general maintenance. In most new Houses and Apartments for rent, these service charges could reach up to fifty percent of the original cost of renting the apartment.

In recent times, a lot of landlords have lost their tenants because of the exorbitant service charges they levy on them. Aside from the fact that rent generally is expensive, service charges seem to compound the issue of the average person looking for Affordable houses to rent. The issue of high service charge is majorly predominant in houses on the Island in Lagos. Considering the power situation and existence of businesses, the need to maintain a high profile environment comes up. This would include the provision of these various facilities hence the extra charges.

Now, landlords are at liberty to levy these service charges as long as they provide them, but in cases when either the price is too high or the service is not provided, the tenants are also at liberty to protest.

The existence of service charge could be beneficial to a large extent, but in many cases makes the whole idea of affordable houses for rent look like a fairy tale. It is at this point when service charge becomes too high, that it turns to extortion.

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Nigerian Realtor wins U.S award https://9japroperty.com.ng/nigerian-realtor-wins-u-s-award/?utm_source=rss&utm_medium=rss&utm_campaign=nigerian-realtor-wins-u-s-award https://9japroperty.com.ng/nigerian-realtor-wins-u-s-award/#respond Tue, 27 Oct 2015 10:14:36 +0000 http://9japroperty.com.ng/?p=3836 The Managing Broker from Centurion Realty and  Estates.Mr. Ola Sanni,  has emerged Realtor of the Year” at the 5th Annual Awards Gala hosted by the United States (U.S) Congressman, Danny Davis. The ceremony was put together by the seventh Congressional District’s Multi Ethnic Advisory Task Force (MEATF) at The Meadows Club in Rolling Meadows, Illinois, […]

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The Managing Broker from Centurion Realty and  Estates.Mr. Ola Sanni,  has emerged Realtor of the Year” at the 5th Annual Awards Gala hosted by the United States (U.S) Congressman, Danny Davis.

The ceremony was put together by the seventh Congressional District’s Multi Ethnic Advisory Task Force (MEATF) at The Meadows Club in Rolling Meadows, Illinois, Chicago, U.S.

According to Dr. Tapas Dasgupta of The Meadows Club, the “Relator of the Year Award” is bestowed on an individual who has not only excelled in his field, but has also made a difference in people’s lives.

“The Annual Gala showcases our community heroes and reinforces that the various ethnic communities play a significant and integral role in the progress of our society,” Dasgupta said.

MEATF was established in 2010 as a platform to acknowledge and appreciate leaders who are giving back in their respective communities.

Sanni, who entered the American real estate industry in 1994 after his university education at Truman College and University of Illinois at Chicago, in July 1995, won the “Top Listing Award” and ranked among the top sales agents out of 750 sales associates. In April 1997, he broke into the million rank and earned US$1 million month certificate as part of Mattz Group.

Sanni, who hopes to return to his home state, Lagos, to play a part in the socio economic development of the place, however said “America is blessed with tons of talents and I believe I can better utilise all my trainings and expertise to help my people. The problem with Nigeria is not corruption but leadership. If you eradicate corruption without good leaders, you are just scratching the surface. My generation has what it takes to move Nigeria to the next level,” he said.

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Experts canvass enactment of Nigerian Housing Act https://9japroperty.com.ng/experts-canvass-enactment-of-nigerian-housing-act/?utm_source=rss&utm_medium=rss&utm_campaign=experts-canvass-enactment-of-nigerian-housing-act https://9japroperty.com.ng/experts-canvass-enactment-of-nigerian-housing-act/#respond Tue, 22 Sep 2015 11:43:34 +0000 http://9japroperty.com.ng/?p=3688 Stakeholders in the built environment are proposing the enactment of a Nigerian Housing Act that will ensure the provision of mandatory housing for the masses by the government. Similar to the United Kingdom Housing Act, 2004, which among other things, makes provision for a system of assessing housing conditions and enforcing standards, the Nigerian Housing […]

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Stakeholders in the built environment are proposing the enactment of a Nigerian Housing Act that will ensure the provision of mandatory housing for the masses by the government.

Similar to the United Kingdom Housing Act, 2004, which among other things, makes provision for a system of assessing housing conditions and enforcing standards, the Nigerian Housing Act is expected to harmonise all the existing policies on housing and land administration into a law.

A professor of Housing and Urban Regeneration at the University of Lagos, Gbenga Nubi, who canvassed for the enactment of the Act and active government participation in the building industry, said that like the Universal Basic Education that guaranteed every Nigerian child access to primary and secondary education, there must also be access to decent housing for all.

“The Nigerian housing sector, in all its component areas, requires active government participation as a firm enabler and not just a regulator,” he said.

According to him, about 60 per cent of the present population of the country lack adequate housing, while an overview of the sector reveals that access to adequate and affordable housing remains elusive to many Nigerians in both the urban and rural areas.

Nubi added, “It is a necessity of government to give every Nigerian whatever they need to make sure that no Nigerian sleeps under the bridge like a dog.

“It is something that when it becomes a law, it will no longer be an obligation but a rule of the government. An Act will specify the age at which you can get your own house and the quality of housing, among other things. We have a building code, which should be an important part of the Act; the building code has not become law, but it should be made an important component of the Act.”

The expert said all the existing laws on housing such as the National Housing Fund should be put together under the proposed Act.

Nubi said, “The Act should specify the quality of houses and what they should look like, and should be the basis for a law that every house in Nigeria must meet certain specifications and every worker must have access to housing.

“Now, there are people who take the government to court that they didn’t do a particular thing, when there are laws and the government is not obeying it, because you know it is a law then you can take the government to court.

“People are taking the government to court concerning the violation of the Electoral Act, because there is a law; politicians can take the government to court, so also in the medical profession. When there is a law, the people can find something to fight with; but when everything is policy, it becomes optional for the government to implement.”

The Principal Partner of the estate surveying and valuation firm, Kola Akomolede & Co., Chief Kola Akomolede, said the Housing Act, if enacted, would strengthen the housing sector.

He added, “Any government that doesn’t obey it can now be prosecuted. For example, the National Housing Fund makes provision that the local and state governments should put a certain amount into the housing fund and that they should make workers to pay a certain percentage of their salary into the fund, but they are not doing it; not many people are doing it; but if it becomes an Act like that of taxation, people will have to obey it.”

He, however, noted that the limitation of the Act could be who would provide the housing.

Akomolede added, “The problem is who to provide the houses. I am sure there is no government that would want to make that kind of law because they know they can’t provide the houses that will be involved.

“Government must supply houses before they can make such a law; if they are not supplying houses, they cannot implement the law.”

A former Federal Controller, Federal Ministry of Lands, Housing and Urban Development, Mr. Olayinka Onaeko, stated that the country needed more funding than laws so as to bridge the housing deficit.

He said, “As far as I am concerned, we don’t have problems of laws or statutory problems. The problem with housing is funding and not relevant laws; we have more than enough laws, Acts and policies in the housing sector that are relative to housing provision.

“We have the Land Use Act and National Building Code, among others; they are all statutory laws. So, I don’t think getting another one is going to improve the number of housing units or reduce the deficit in the sector. The major problem is funding and it should be attacked by repositioning the Federal Mortgage Bank of Nigeria and other primary mortgage institutions.”

Nubi noted that with the Housing Act, the government would have no choice but look into the nation’s housing crisis.

He added, “The housing policy is very robust and is so large for every government to execute; if the housing policies and the building code are put together and we are able to back them as a law, when there is violation, it will be addressed in court.

“And the court will force the government to implement the law; it is a stage in any national development. There must be a law before it can be enforced.”

PUNCH.

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Nigerian, Chinese investors to develop houses in three states https://9japroperty.com.ng/nigerian-chinese-investors-to-develop-houses-in-three-states/?utm_source=rss&utm_medium=rss&utm_campaign=nigerian-chinese-investors-to-develop-houses-in-three-states https://9japroperty.com.ng/nigerian-chinese-investors-to-develop-houses-in-three-states/#respond Mon, 16 Mar 2015 12:14:33 +0000 http://9japroperty.com.ng/?p=2951 Some Nigerian investors and their Chinese counterparts have entered into an agreement to promote housing developments in the South Western states of Ondo, Osun and Ogun. The Chinese businessmen, who are currently in the country, are in talks with their Nigerian counterparts to explore some areas of opportunities that include construction activities, building materials, especially, […]

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Some Nigerian investors and their Chinese counterparts have entered into an agreement to promote housing developments in the South Western states of Ondo, Osun and Ogun.

The Chinese businessmen, who are currently in the country, are in talks with their Nigerian counterparts to explore some areas of opportunities that include construction activities, building materials, especially, lightings, and alternative power supply.

The firms, Sinafri-Hongye Group of China and Niger-Sino Nigeria Limited, in conjunction with the Hemaded Logistics Group, have pledged to boost growth in the real estate sector.

The Chinese investors, led by the Sinafri-Hongye’s Marketing and International Relations Manager, Mr. Sebbs Azubuike; Director, Mr. David Yang; Managing Director, Energy Unit, Mr. Xu Jacky Ronchang; and Managing Director, Electronic/Electrical of Sinafri-Hongye, Mr. Pan Bing Kui, highlighted their findings and desire to commence business in Nigeria immediately they formalised agreements with their partners in the different areas.

Yang identified real estate and construction as their major areas of interest, but at the ancillary level, lightings, alternative energy supply, especially solar, and by extension, agriculture, would be included in their operations.

According to Yang, Sinafri-Hongye has more than 100 branches globally, with a capital base worth $10bn in real estate, furniture industry and construction sectors.

“Housing provision and power supply are congruous in this age and time when fighting against weather changes that pose threat to the environment is intensifying. Apart from the fact that solar energy is environmental friendly, it is also cost-effective compared to conventional energy supply,” he said.

According to him, when the business takes off in the country, schools, hospitals residential and industrial estates will be targeted for provision of solar energy.

The Chief Executive Officer, Hemadeb Group, Mr. Tunde Akinboun, said the cooperation with the Chinese group in real estate would be concentrated in Ondo, Osun and Ogun states.

According to him, the market potential for real estate in the country calls for investment in solar energy.

“It is economically wise to explore more of solar use, especially for streetlights and other domestic usages,” he said.

The Managing Director, Polons Engineering Nigeria Limited, a real estate firm, Mr. Akin Abiola, said the desire of Sinafri-Hongye to do business in the country was commendable.

He, however, noted that some areas might make or mar the goal, including funding, building materials and cost of production in general.

“Nigeria’s business potential in real estate sector is enormous no doubt, but the truth of the matter is that the climate makes it difficult to achieve the desired goal of making housing available for the low income earners,” he said.

Abiola told the investors that the house types required in the country presently were not for the elites, but rather for the middle class and low income earners.

He also lamented the lack of mortgage facilities in the country, blaming the commercial banks for high lending rates and absence of long-term funding.

“For the success of your business ambition in Nigeria, I will implore you to put these three factors into consideration so that all the stakeholders will be better off at the end of the day,” he told the investors.

The Chairman, Niger-Sino Nigeria Limited, Mr. Olanrewaju Saka-Shenayon, said he was confident that the outcome of the collaboration between the two parties would be successful.

He said his optimism was based on the landmarks that Chinese firms had made in construction works in Africa, especially in Nigeria.

“We have confidence in our new partners and we believe that at the end of the day, we will sign a Memorandum of Understanding and activities will commence,” he said.

PUNCH.

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