D'banj bags Apple/Beats By Dre African ambassador, gets his own earphones

 Apple/Beats By Dre just made the announcement! D'banj has signed a contract with Apple to be the African ambassador for the brand...and not just that, he'll get his own customized earphones, which will be launched in December. Congrats to D'banj. See more photos after the jump...

Linda Ikeji Reacts to Alleged Plagiarism

 Linds Ikeji reacted to Plagiarism, Excerpts bellow..

    ‘I admit that I take content from other sites. Plenty of it sef, but the question is, which website in the world doesn’t? If you go on Bossip.com, 50% of what is there is from other sources. Daily Mail UK takes from other sites, re-writes and give credit. UK Mirror takes from other sites. MediaTakeOut quotes other sources. E! Online, Us Weekly, People and even CNN take news from other sources and give credit, so why is mine an offense to the extent that my blog deserves to be shut down? Even in Nigeria, which site doesn’t take news from other sites?

Nigeria: Ebola Scare - 1,332 Nigerian Soldiers Quarantined in Liberia

Leadership
By Abiodun Oluwarotimi, Winifred Ogbebo and Victor Okeke
The Nigerian Army has revealed that about 1332 of its peace keeping troops in Liberia have been placed under surveillance following their contact with a Sudanese who later died of the Ebola Virus Disease (EVD).
The director of the Nigerian Army Medical Corps, Major-General Obashina Ogunbiyi stated this in Abuja yesterday.

Nigerian Refugees in Cameroon Attacked By Gunmen

By Ibrahim Kabiru Sule

Thousand of Nigerian refugees in Kereomafa town of Cameroon were attacked by gunmen, resulting in the deaths of an unknown number, the BBC Hausa Service reported yesterday.

The attackers were said to have stormed the camps of the refugees who were mainly from the neighbouring Gwoza town of Borno State in the night.

One of the refugees, who escaped the onslaught, said the gunmen were still in the vicinity of their camps and have continued to chase them.

Nigeria: PDP, Govs Fight, As NWC Cancels Endorsements

ABUJA-- The National leadership of the Peoples Democratic Party, PDP has cancelled all endorsements of candidates by the state executive officers.

Rising from its National Working Committee, NWC, meeting yesterday, the national leadership of the PDP also warned all the zonal and state executives to jettison the idea of having any anointed candidate ahead of the November 29 Governorship Primary election when governorship candidates would emerge.

Nigeria: Wike's Supporters On Rampage, Hit PDP Members, Journalists

By Henry Umoru
ABUJA--Supporters of Minister of State for Education, who is also a governorship aspirant in Rivers State, Mr. Nyesom Wike yesterday unleashed terror on opponents and journalists in Abuja.
The venue was the PDP Presidential Campaign Office, Legacy House, Maitama, at the second day of the Senator Iya Abubakar led Peoples Democratic Party, PDP South South Integration Committee's sitting.

The Committee had on Wednesday met with PDP stakeholders, leaders and members from Akwa Ibom and Edo States and it was the turn of Rivers State for reconciliation.
Soon after the minister arrived the venue, the atmosphere was charged as his supporters blocked and stopped members of PDP perceived not loyal to Wike from entering the hall to submit or defend their memoranda which they had earlier submitted.


Journalists who had covered the previous meetings were harassed, humiliated and beaten. Television camera men working with Channels Television, Silverbird as well as a Vanguard correspondent were molested.


The supporters manhandled the reporters and attempted to seize their cameras,recorders and telephones. The supporters who blocked the entrance to the hall, were prepared to beat up anyone. Some of the aspirants like Kenneth Ibikani Dublin, Chief Larry Allison; Major Lanstort Annyayan, among others could not enter the venue.


Displeased with the development which saw Rivers PDP stakeholders prevented from presenting their memoranda to the Iya Abubakar Committee, former Commissioner for Water Resources in the state and Rivers State Coordinator, Yar'Adua/ Jonathan Campaign Organisation in 2007, Hon. Lolo Ibienye expressed strong concern. The protest attracted instant rebuke from the minister.
Throughout the period the Minister was in the hall with members of the committee, other aspirants were not allowed to come close to the venue as the hefty looking supporters of Wike molested and stopped everyone.


The waiting room of Legacy House was completely taken over by the Minister's supporters.
Narrating his experience to Vanguard, Lolo Ibienye claimed he was shoved by the minister, warning that if the national leadership of PDP fails to address these problems, the party in Rivers State was sitting on a keg of gun powder, waiting to explode at any time. He added that with the molestation of party members and journalists by the Minister of State for Education's thugs. It would have been disastrous if the exercise had taken place in Rivers.
Ibienye who noted that the molestation and punching was not necessary, said that the Committee received 22 petitions from the state and of the petitions received, only four persons from the state were allowed to defend their petitions.


How it happened -- Ibienye
He said: "I am Hon. Lolo Ibienye, Commissioner for Water Resources during former governor Peter Odili's tenure and Rivers Coordinator, Yar'Adua/ Jonathan Campaign Organisation in 2007. What happened there was that the group led by the Honourable Minister of State, Education, Nyesom Wike brought people intended to stop petitioners from going to defend their petitions. Only a few people were allowed into the hall. 22 petitions were received from Rivers State and only four out of the 22 persons who petitioned were allowed to defend their petitions. Professor Israel Owate presented his, Chief Paworiso Samuel Horsfall presented his report, while Barrister Alalivo Frederick and Elechukwu Ogbowu presented theirs as well.

"In an attempt to stop the molestation and harassment of party stakeholders and preventing them from entering the hall to defend their petitions, Wike then shoved me. That is not what we expect at the moment at all; the molestation of stakeholders and journalists should not have happened, it is not necessary at all. If it happened in Abuja with few of us in attendance, what would have happened if the meeting had taken place in Rivers State?


"The national leadership of the party must know that it is not well with Rivers PDP, it is a clear indication that PDP in the state is sitting on a keg of gun powder."
When asked to comment on the fracas, he said: "It happened, go ahead and use it that way, what happened there was not necessary at all."


When Vanguard called Mr. Wike and sent a text message for his response, he said he was at a meeting and would call back. He had not responded at press time. Meanwhile, a group stormed thhe Legacy House , the Wadata Plaza, National Secretariat of the party, demanding the zoning of governorship seat to the riverine area of the state was stopped by security operatives.


Addressing the group, PDP national publicity secretary, Chief Olisa Metuh who advised them to always imbibe democratic tenets and the rule of law, urged them to ensure that they they put their house in order to ensure that PDP wins the election in Rivers State.
There was however a reprisal action at Legacy House at 11. 40 am when an aggrieved member, and legal adviser to Network for Defence of Democracy and Good Governance, NDDGG, Barrister Tubotamuno Dick, led a group of boys who carried bottles of soft drinks, forced themselves into the premises, and it became a free-for-all among the two groups, but the police intervened.


Policeman hit me -- Dick
Barrister Tubotamuno Dick who sustained injury in his left eye in the course of battling with the Police to gain entry told journalists that the act of not allowing justice and fair hearing to prevail was not good for the nation's democracy, adding, "They were stopping people but I said we came to defend our petition. They molested our people, pushing them down. I went there and presented myself as a lawyer. Can you imagine a Nigerian Policeman hitting me in the eye? This means that the committee set up by the federal government has already been compromised.
"In Rivers PDP, we have only chairman and secretary and we have written to the national secretariat that if we allow a two-man exco as constituted to go for elections, we will have so many legal issues. As we speak, 70 per cent of PDP exco members decamped with Amaechi to APC."
Nyesom Wike who was there from 9 a.m, left the place at 12.32 p.m with his supporters, thereby giving room for some persons to enter.


Speaking with Vanguard, a governorship aspirant who was locked outside, Kenneth Ibikani Dublin, said: " I was not even allowed in; I expect that PDP National Secretariat will look at the issue. Iam going back to my people, inform them of what happened, then we will come up with a communique."

Governor Fashola’s Key Note Address @ Real Estate Unite 2014…

Experts, investors, professionals and other stakeholders in the real estate sector have said that the growth of this sector, which is considered critical to the growth of the economy, is dependent on infrastructure development and sustainable financing, noting that the sector’s contribution to national GDP estimated at 7 percent is too low given its enormous potential.

In his keynote address at the conference, Governor Babatunde Fashola of Lagos State, highlighted approaches that could bring about sustainable financing for the sector, citing the Lagos Home Ownership Mortgage Scheme (LagosHOMS) and how the scheme underpins his administration’s ability to create a sustainable financing mechanism that could provide affordable homes for the middle class.

Fashola, who described the initiative as a typical sustainable affordable housing strategy, assured that by the scheme’s one year anniversary, it would have produced equal number of housing units which the Federal Mortgage Bank of Nigeria (FMBN) has struggled to produce in its 22 years of existence.

According to him, one of the sustainable mechanisms instituted by the state to drive the scheme is the monthly savings of N500 million from the state’s internally generated revenue (IGR), revealing that as part of efforts to spur growth in the real estate sector, the state government has resolved to share the cost of providing infrastructure between itself and homeowners.

“What we do is to provide some of the infrastructure such as the main access roads into private estates and LagosHOMS but for the internal roads, the cost is shared among all the residents to be paid over a period,” he said, adding that the absence of sustained infrastructure provision in any society encourages slums development.

Oracle Launches Capacity-Building Programme to Close IT Skills Gap in Africa

Strategy to develop relevant skills among youth, graduates, employees and entrepreneurs

Oracle Corporation today announced an initiative designed to enrich and increase the skills capacity of IT practitioners in Africa. The four-pronged program was devised as a response to the rapid adoption of new technologies by governments and businesses in Africa, exacerbating the shortage of suitably skilled practitioners to use the systems to best advantage.

According to Oracle, the dramatic advancement of technology over the past five years has resulted in a gap in IT competencies and skills availability. Organizations in Africa are adopting new technologies at a rate which is outstripping the availability of appropriately qualified staff.

"Today IT holds the promise to promote social inclusion, combat corruption, expand the digital economy and enable stronger links between citizens and governments, businesses and customers, NGOs and the communities they serve," said Alfonso Di Ianni, Senior Vice President, Oracle East Central Europe, Middle East and Africa."They can do this and at the same time dramatically reduce costs and improve efficiency. However for technology to support such transformation, organizations must have ready access to people capable of setting up and maintaining these systems."

Consisting of four elements – employee readiness, ecosystem readiness, workforce readiness and youth readiness, Oracle is reaching out to governments, the private sector and non-profit organizations to implement a long term skills strategy that will help fulfill demand for relevant IT skills.

Supporting Quotes

"Using the materials and manpower from Oracle University, Oracle Academy, Oracle Partner Enablement, Oracle Sales Consulting and the Public Sector Center of Excellence, Oracle will, in partnership with the organization or community, create programs addressing their skills need," said Orfhlaith Ni Chorcora, Senior Director, Business Development at Oracle."Two such partnerships are already underway with the Lagos State government in Nigeria and Equity Group Foundation in Kenya to jointly drive successful initiatives tailored to the local needs.

"Building a competitive pool of IT-skilled youth in the state is a priority for Lagos State," said Governor Babatunde Fashola(SAN). "To successfully achieve this goal, it takes multi-stakeholder support and long term collaboration with organizations such as Oracle who share our deepest commitment to building skills and creating exciting job opportunities for the youth of Lagos. We are off to a good start and look forward to increasing that impact in the coming months."

"In the emerging economic order, basic computer literacy means the ability not only to use software, but also to modify or create; in other words, to program," said Dr. Helen Gichohi, Managing Director of Equity Group Foundation. "For them to compete internationally we must also raise their ICT competencies to global standards and keep them intellectually curious, creative and motivated to critically think about their surroundings."

Supporting Resources

Download Capacity-Building Program Infographic

Video interview: Alphonso Di Ianni, Oracle Vice President, East Central Europe, Middle East and Africa, and Orfhlaith Ni Chorcora, Senior Director, Business Development, describe the components of the capacity-building programme and its importance for the Africa region.



Source: APO

Omonile Free Plots In Our Value Added Estates

Omonile Free Plots In Our Value Added Estates

Price in Naira: NGN 750,000

Location: Lagos Island West, Lagos
Last update: 2014-10-07

Vetra ventures limited is availing individuals, corporate bodies and other interested parties the opportunity to own plots in its estates free from omonile crisis and government acquisition also documentation is available for these plots. Hurry now and make Vetra ventures your partner for development. Note that all our plots are 648sqms or 60 by 120. We provide a global C of O and deed of assignment or sublease depending on the estate allocation letters and receipts of payments both for outright purchase or instalments Skygate estate ibeju lekki is beside the ibeju secretariat and it goes for 4.350m outright and 4.5m with a down payment of 1m and the rest spread for 10months crystal park estate phase 2 in mowe-ofada neighbors include sherry view estate and Christians university for 1.5m outright only. 

 

Nigeria: How Policy Somersaults, Corruption, Indiscipline Plague Public Schools, By Educationists

By Ujunwa AtueyiOPEN Educational Resources (OER) programme specialist for the United Nations Educational, Scientific and Cultural Organisation (UNESCO), Mr. Abel Caine, has commended the management of National Open University of Nigeria (NOUN) for its efforts towards converting its courses to OER.

When courses are converted to OER, they are delivered as Massive Open Online Courses (MOOCs).
Caine who spoke during the opening ceremony of a recent two-day UNESCO-NOUN OER/MOOC's sensitisation workshop in Lagos, said the purpose of the workshop was to extensively assess six existing NOUN courses for transformation into fully licensed OER and MOOCs format.
The OER-MOOCs are teaching, learning and research resources that reside in the public domain, or have been released under an intellectual property license that permits their free use and re-purposing by others.


The workshop, which is a direct follow-up of the first Africa workshop for the Globalising OpenUpEd project, according to Caine, would allow participants and NOUN to have a clear understanding of the challenges, time frames and required resources.
"OER would create a platform for NOUN to share their huge intellectual wealth so that other educational institutions within Nigeria, Africa and globally could use them free of cost, as well as with the legal freedom to adapt them," Caine stated.


"It would interest you to know that through the vision of the Vice Chancellor of NOUN, Prof Vincent Tenebe, the institution has become the first tertiary institution in Nigeria and West Africa to have made a significant commitment to OER and MOOCs," the UNESCO chief informed adding, "MOOCs would also allow NOUN to deliver their courses in a new format especially for mobile phones so that millions of learners can access knowledge."
"If the NOUN OER-MOOCs project is successful, it could be highlighted at the 2015 World Education Forum in Seoul, South Korea in May 2015, and this will bring global prestige and partnership opportunities for NOUN and Nigeria as a country," he added.


He called on other tertiary institutions in the country to key into the vision in order to create opportunities to address the tertiary education access challenge facing the country's education system.
Caine further stated that if tertiary institutions in the country embrace the initiative, it would to a large extent, open more doors to, not only Nigerians, but also Africans yearning for qualitative education in the most stress freeway.


His words, "NOUN has made efforts to transform its course materials to OER and we all know that it is currently the only institution in Nigeria committed to this project. Meanwhile, in Africa, there are several institutions in South Africa and Ghana that have keyed into this project. Our organisation is always set to introduce OER to the tertiary education system in different countries."
He said the project allows access for personalised learning; fosters innovation; improved availability of materials; improved technical quality as well as improve coherence across courses.


Tenebe in his remarks hinted that OER has emerged as a concept with great potential to support educational transformation, adding that NOUN being a forerunner in Open and Distance Learning (ODL) in Africa was set to key into it.
"There is only one key differentiator between an OER and any other educational resource, which is its licence. The OER incorporates a licence that facilitates re-use and potential adaptation without first requesting permission from the copyright holder. NOUN has decided to embrace this concept and run it in order not to be left behind," Tenebe informed.

Nigeria: Navy Impounds 2,000 Gallons of Petroleum Products

The Nigerian Navy on Tuesday in Lagos said it impounded over 2,000 gallons of petroleum products from some suspected vandals' hideout at Majidun in Ikorodu, Lagos State.
The products, which were concealed in 50 litres jerry cans, were lifted from the hideout by the Navy.
The News Agency of Nigeria (NAN) reports that men of the Nigerian Army and other security agencies assisted the Navy in the operation.


The Flag Officer Commanding Western Naval Command, Rear Admiral Ilesanmi Alade, told newsmen that the operation, which took his men sleepless nights, was carried out following a tip-off from the public.
He said "as you may be aware the Federal Government has been confronted with the challenges of combating illegal oil bunkering and pipeline vandalism.
"These illegal activities have not only led to significant loss in revenue accruable to the Federal Government, but also cause damage to strategic installations which require colossal amount of money to repair.


"Pipeline vandalism has also led to pollution of the maritime environment and in some cases, fire disasters resulting in loss of lives and property.
"Communities like Majidun, Arepo, Ogolonto and Makoko in Ikorodu Local Government area of Lagos State are renowned for illegal oil bunkering and pipeline vandalism.
"The perpetrators use self-propelled barges and wooden boats to ferry the stolen products to their destinations.
"They are also usually armed to confront anyone that attempts to stop their operation."
Alade said the operation, code-named "AWATSE", which literally means SCATTER, was aimed at dislodging the perpetrators of the illegal act.
"The operation was initiated by the Nigerian Navy and supported by the Nigerian Army and it is still ongoing.


"The operation has yielded success and so far; persons arrested after interrogation and confirmed as culprits, would be handed over to the appropriate prosecuting agency.
"The products will be handed over to the Pipeline and Products Marketing Company (PPMC) for storage, pending termination of the operation," he said.
The Naval chief said that on completion of the operation, the Navy would consider establishing a base in the area.
He appealed to residents of Majidun to be patient and assured them that the operation would soon be over.


"Whatever we are doing here is also in the interest of the residents of Majidun and the economic survival of the nation," he said.
Alade also appealed to the public to provide the Navy with useful information to assist it in apprehending the perpetrators.
He said that the Chief of Naval Staff, Vice Admiral Usman Jibrin, had zero tolerance for maritime crimes in the country.
A resident of the area, Mrs Kafaya told newsmen that she was aware oil bunkering was taken place in the area but did not know it was illegal.
Another resident, Mr Kazeem Ariyo, commended the Navy saying its men had done 'a good job.'

Nigeria: Flood Affects 200 People in Katsina

The Katsina State Emergency Management Agency on Wednesday said 200 people had been affected by flood in the state this year.
The Executive Secretary of the Agency, Alhaji Hassan Rawayau, disclosed this Katsina at the opening of a 3-day workshop on "Strengthening Sub-National Humanitarian Co-ordination".
The workshop was organised by the Agency in collaboration with Coalition of Civil Society for Poverty Eradication (CCSPE), an NGO.

Rawayau said the affected persons were from Bakori and Musawa local government areas, adding that there was no injury or loss of lives during the disaster.
He said the state government had distributed relief materials worth N5 million to the victims.
He said about 4,000 people in 21 local government areas of the state were affected by simialr disaster last year.

The Programme Coordinator of CCSPE, Mr Peter Egwudah, said in his speech that the group had selected 30 stakeholders for the workshop.
He said the event was organised to prepare participants for effective disaster management.
Egwudah urged the participants to improve their coordination during emergency situations to save lives and property. (NAN)

Google explains why it shut down Linda Ikeji’s blog

Over the weekend, Linda Ikeji was accused by a number of people of constantly plagiarizing and lifting articles from websites without giving credit to original sources.  As a result, the blog was shut down yesterday. The action has since sparked lots of controversies as many of her fans took to the various social media pages to lament and blame ‘witches’ and ‘haters’ for the tragedy.

Clearing the air on the misconception, Google’s Manager for Communications and Public Affairs, Anglo-Phone West Africa, Taiwo Kolade-Ogunlade, in a chat with Punch newspaper, explained why the blog was taken down.

Nigeria: Enough of Crocodile Tears for Adekunle

By Adewuyi Adegbite
The demise of Brigadier Benjamin Maja Adekunle, the commander of the 3rd Marine Commando of the Nigerian Army during the civil war between 1967 and 1970, has exposed further the hypocrisy of the Nigerian elite. History is replete with the exploits of Adekunle in the war, but for his truculence, the war would have dragged on for years. However, he was not acknowledged by the government of his days because of his larger than life personality, his brilliance, and fame, which overshadowed those of his peers and superiors in the Army. His unceremonious retirement might have resulted from envy rather than allegations levied against him. Unfortunately for him, he was neither here nor there after the cessation of hostilities, because the Nigerian side, which he laboured to keep one, did not reward him, and the Biafran side, which he helped in taming, detested him.


The refusal of some Igbo members in the House of Representatives to observe a minute silence to honour him was symbolic of hatred for him, even in death. In actual fact, Adekunle belongs to the class of Nigerian heroes and heroines who were denied recognition by the State for their lofty contributions to the development of the nation. Inversely, many Nigerians of shady characters with no clear cut contributions to the development of the nation except being political office holders or close to the corridors of power, either at the state or federal level are honoured with the national awards.

What an irony?


Eulogies and tributes trailing the demise of Adekunle from eminent Nigerians are surprising because he had been bedridden for quite some time, with very few people paying attention to him. But for one of his juniors in the military, Gen. Alabi Isama, who brought his pathetic condition to the open through an interview he had in some national dailies, Adekunle would have died in solitude, and this is the way the hypocrites would be hailing his dead body.


It is pathetic that providence had foisted on Nigeria its second eleven in major positions of responsibilities. The travail of Adekunle in the hands of the military and the government of his day could be understood in the above context.


One takes solace in the words of the ex-Cuban leader, Fidel Castro, in a letter he wrote to Luis Conte Aguero in 1953, "Epitaph is not at the moment a monument to the martyrs who have fallen. We cannot even speak of peace for the dead in this oppressed land, but posterity which is always more generous with the good will build these monuments in their memories, and in due time, future generation will revive the tribute/honour owed those who saved the fatherland's honour in the time of infinite shame".

Sad Business for T.B Joshua as Religious Tourists Shun Synagogue

These are not the best times for T.B Joshua's Synagogue church of all Nations.The Church was was a mecca of sorts from people around the world ,is said to be seriously affected after the collapse of it's lodging quarters which resulted in the death of 115.Usually ,people from all over ,book months ahead for a chance to gain entry and meet the man of God for healing.

According to a report by Punch ,the premises was desolate during the Eid-Kabir holidays a there were no visitors that were milling around the gates for enquiries.

    "The Ejigbo-Ikotun Road, a major access to the religious centre, was also free of the typical gridlock that welcomes visitors to the Synagogue.The parking lots were also unoccupied just as roads leading to the car parks and offices were bare.

    A security guard said the church was not deserted but affected by the “panic people expressed when there is a disaster at a location.”He said those who were faithful to the church still turned up for programmes as usual.But a resident of the area, Kazim Owolabi, said things had never been the same since the September 12 incident.

Owolabi, who is a part-time hotel agent, said,

     “I have not brokered any business in the past three weeks. I think a lot of people have misunderstood what is happening here. Somebody even asked me on the telephone whether it is true that the government has taken over the place. Since many people who come from outside Lagos are not sure of the true situation, they called off their appointments.”

Lagos’ rising cases of abandoned property and challenges before govt

Reports compiled by experts in the housing sector reveal that there are many abandoned properties in
Lagos State; a development experts have said is not healthy for the development of the economy of not only Lagos, but Nigeria as a whole.

A recent report has it that the value of some of the abandoned properties, especially those in Victoria Island, currently stands at above five billion naira, while private individuals, the Federal Government as well as various state governments have been found to be guilty of this development.
Continue..

Is Nigerian fast food industry at its Tipping Point?

Until recently, Sub-Saharan Africa (SSA) has long been ignored by the Western based brands, but now as growth opportunities in other emerging nations become saturated, SSA appears to be the ultimate destination. Particularly, the fast food businesses are gearing up for their next big move on the continent, but whether it will be easy for them, remains the question. SSA consists of 50 countries, in which Nigeria and South Africa are the major economies contributing tremendously toward the GDP of the continent; and the sooner the foreign brands harness the potential in these economies, the larger they can bite into the pie.

The Most Mysterious House U Have Ever Lived In Nigeria!

When I was younger, my mum used to move from one house to another, like almost every year

one time, we moved to some house near a big farm undecided

after some weeks, we realized our new house was built on top a grave yard shocked
towards the end of the street was also an O.O Obum church! shocked
and whenever there is an O.O Obum church, most of the pple living ard the area will be O.O Obum members

BBA winner Dilish bares Chest in traditional Himba Culture wear

 See more pics bellow.

Photos: Supermodel Uche Odikanwa shares new photos.

See more pics bellow.

Images from Governor Uduaghan's 60th birthday

 See more pics bellow.

Amazing Dance Steps! New Video: Zani - Mercy

Photos: inauguration ceremony of Ekiti new Gov, Ayo Fayose

 See more photos bellow.

Lagos: 5A Beautiful 5 Bedrooms Duplex for Sale, Medina, Gbagada, Lagos - Lagos

Item details

City: Lagos » Kosofe

Offer type: Sell

Price: ₦75,000,000

Bedrooms:5

Full Square, m²:780

 

Lagos: Exquisite 3 Bedroom Flat Marda Barracks for rent

₦2,000,000 p.a.
Marda Barracks, Saint Agnes, Yaba, Lagos
New! Find out the average price in this area
Continue to see Description

Land for sale in Lekki Villa

Lekki Villa: Is located within the Bogìjè/Shàpàtì area of the Ibeju Lekki environs. A land size of 675sqm sells for 1.5M outright payment or 1.8M for a 12 month installmental payment.

The estate also has an ongoing promo in which if you buy one plot, you get 10 Bags of Cement and 3 trips of Sand on Allocation. Buy 5 plots and get One plot FREE! This promo runs till the end of june. Hurry Now!

Content from Nigeria Property Centre

Real Estate Investment in Nigeria pretty easy.

Property in regard to land and buildings is one thing that is worth your investment in the long term due to the fact that landed properties appreciate with time.

Investigations reveal that as at 2011, only 37% of Nigerians were house owners. Providing relevant and timely information to potential investors and to the general public can help increase this figure. Also, there is a need to break down the barriers to investing in the sector by simplifying the process. These steps include
1. Research

If you are interested in the property market, there are great platforms to find information you need, including the mass media, online and around you. Talk to locals. Use the internet for your research as its an avenue for you to get the much needed information at the palm of your hand. You have to understand it before you can get into it. It is important to note that Real Estate information in Nigeria is scarce and thus requires effort on your part, whether you are in the country or abroad.
2. Decide on the property market you wish to invest in.

Based on your research and depending on your goals, pick a sector that will benefit you more. You could chose from office to industrial property, retail centres or residential units. According to a developer in this BusinessDay article, a shopping mall in Nigeria is sold off before it is even complete while residential units take several years to actually sell out.
3. Which real estate market is blooming?

Decide on areas where a highway is constructed which  eases traffic and the working class tends to move in that direction, or areas with newly constructed facilities making it a worthy cause to build high-rises to rent out to them.
4. Decide on where and how you will get finances

It could be from friends and family or financial institutions. You could also finance it yourself. When you approach the bank or institution, make sure you know what you are doing. Your plan has to be viable enough to make them give you the money. As stated here last time, the Nigerian government secured a $300 million loan from the World Bank to establish Nigerian Mortgage Refinance Company (NMRC) at the beginning of 2014. Hopefully its effect in terms of liquidity and bank lending is being felt now. You could benefit.
Remember that property in the better parts of Lagos and similar upscale urban areas is as expensive as in some Western markets.
5. Get the details right

You can never be too careful. Talk to industry experts, a lawyer and make sure you get everything ironed out right from the federal government requirements down to the owner’s issues. It is another known fact that property scammers run amok in our big cities; pretending to sell houses whose owners are away, complete with fake title deeds. Beware. Get the advice of relevant professionals such as surveyors who will check out the property and advise you accordingly.
6. Know your Law

You have the right to own property as a Nigerian. All the same, the 1978 Land Use Act gives state governments authority over land within their borders. They in turn avail it to you after an intricate and bureaucratic process. You will then receive a certificate of occupancy to actually use the land i.e. sell it or develop it. Your right can also be denied if you are living in a place that is not your area of origin, which can be very subjective at the very least and can create ethnic tension.

Mistakes can be made in the real estate market in Nigeria as in anywhere else and that is why one needs to practice patience and wise resolve. Remember, Nigeria is a developing market with great potential in sight.

A Newly Built Lovely 3 Bedroom Flat Content from Nigeria Property Centre

 See details bellow

Property Description

a newly build lovely 3br flat on the art of yaba.

secure an serin environment.

all room ensuit .

just 4 block of flat wit a big car park.

easy drive to vi obalende ikorodu ikeja.

rent is 2yr but de can do 1an half if u are seriou just 2 left.

intrested client

call 08184100140 07039434655

butterfly properties

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Content from Nigeria Property Centre
Read more at: http://www.nigeriapropertycentre.com/for-rent/flats-apartments/lagos/agbara-igbesa/35250-a-newly-build-lovely-3br-flat-at-sabo-yaba

15 statutory laws governing land/property transactions in Nigeria.

Many people do not know that there are some statutory laws that have been enacted and established by both the state and federal government to regulate, guide and govern all forms of land and landed properties’ transactions in Nigeria which could make such transaction illegal or even lead to forfeiture whenever the parties to the transaction do not adhere to the provisions of such statutory laws as been laid down or stipulated.

Land and landed properties are static in nature and because they are immovable, hence the Latin maxim “Quicquid plantatur solo solo cedit” (meaning; whatever is affixed on the land belongs to the land).

Land and landed properties’ transactions (ownership, sales, acquisition, lease, mortgage, alienation, assignment/conveyance, sublease) are a contractual relationship between two or more persons for exchange and release of interest they have on land and landed property in consideration for a compensation which is usually of monetary value in nature.

For the protection of all parties involved in any or all of the above mentioned transactions as well as making such transactions legal and tenable in any court of law, the government (state and federal) of the federation has enacted some statutory laws to guide, govern and protect all persons who find themselves embarking on any of these land and landed properties’ transactions in Nigeria.


2There are so many reasons why government enacts statutory laws to govern and guide land and landed property transactions in Nigeria. Some of which are:

• To help generate additional revenue for government
• To add up to the Gross Domestic Product (GDP) of the economy
• To endeavour government carry out one its constitutional statutory function of protecting lives and properties
• To protect land/property investors and owners against fraud
• To have a detailed record of all land and property transactions in the country
• To assist government in planning towards adequate provision of infrastructural facilities in the country
The first part of the statutory laws governing land/property transactions in Nigeria which I will write on are:
1. Land Use Act
2. Land Instruments Registration Laws
3. Registration of Titles Acts
4. Rent Control and Recovery of Premises Acts
5. Tenancy Law of Lagos state
6. Tenement Rate Laws
7. Land Use Charge Law of Lagos state

UK Nigeria Diaspora Bodies Collaborates With Diarep Uk Exhibition

The Nigeria Diaspora Direct Investment Summit (NDDIS) and Central Association of Nigerians Living in the United Kingdom (CANUK) has extended their hands to collaborate with Real Edge Alliance Limited, the major promoters of Diaspora Real Estate Project (DIAREP) to organize an real estate exhibition for Nigerian living in the UK. The exhibition will be holding in London on the 26th and 27th of July 2014 at the Imperial College, London.

Fab Photos of Karen Igho & her UK University Schoolmates

 See more bellow.

Photos from Singer Faycol's May 2014 wedding

 See more pics bellow.

Lagos: Newly Built 4 Bedroom Detached Duplex

Newly Built 4 Bedroom Detached Duplex for sale

₦65,000,000 Phase 1 Isheri, GRA, Magodo, Lagos

Content from Nigeria Property Centre

Newly built 4 bedroom detached duplex, a very big master bedroom, a room BQ, all rooms en-suite, kitchen well furnished, 4 parking space, security house and street well tiled.

GDP rebasing exposes opportunities in real estate, infrastructure

The rebased Gross Domestic Product (GDP) figure recently released by the Federal Government has exposed much more opportunities in real estate and infrastructure investment and development than had been previously imagined by investors and analysts.

This rebasing effort by the National Bureau of Statistics (NBS), which shows that the Nigerian economy is now more diversified with a GDP value of $510 billion, reveals that activities in the services sector have overtaken those of agriculture and industry.

The implication of the present development to the real estate sector, analysts say, is increased opportunities as increased activities in the services sector, including wholesale and retail trade, human health and social services, information and communication as well as professional, scientific and technical services, means more investment in housing and infrastructure.

Obi Nwogugu, head, real estate unit, African Capital Alliance, sees increased potential and opportunities in the economy as a result of the rebasing exercise, pointing out that a lot more people will be looking to invest in the Nigerian economy.

He adds that he does not expect an overnight increase in demand and pricing for housing, but believes there will be additional level of interest in the economy from international investors.

“This increased level of interest is going to drive investment in office space; now that Nigeria has overtaken South Africa in terms of the scale of the economy, some of the international retailers who used to go to South Africa because of the size of their economy will come to Nigeria and this is going to affect retailing,” he said.

Anthony Owuye, MD/CEO, Personal Trust Savings and Loans, sees increased money supply in the economy with the rebasing, contending that if inflation is kept under control, it will be another round of boom for real estate.

Owuye also says because of the increased activities in the services sector, there is going to be a significant investment shift towards commercial real estate, explaining that there will be more investment in retail outlets, leisure, office space and hospitality.

He notes, however, that having been priced out of the reach of many, residential real estate is going to see price adjustment, citing example of Banana Island, where he notes there are many empty houses because people are opting for ‘cheaper’ locations like Parkview Estate, Osborne Foreshore, etc.

Chudi Ejekam, director, real estate, Actis, is of the view that the $510 billion GDP figure, which is materially higher than earlier projections, is yet another example of how Nigeria confounds projections, adding that the rebasing inexorably raises Nigeria’s profile in the eyes of the international business community.

According to him, many are guilty of continuing to grossly under-estimate the true nature of the Nigerian economy and opportunity.

“One of the major challenges has been communicating the depth of purchasing power of Nigerian consumers; an indication of higher per capita income boosts the thesis for retail malls investments and would encourage entry of new brands as well as investors,” he adds.

Yemi Kale, statistician-general of the federation/CEO, NBS, says rebasing the GDP shows a noticeable shift in the share of key industries to the country’s overall GDP, explaining that the rebased 2010 series reveals a decline in the share of agriculture to 24 percent from 30.3 percent in 1990. Industry has also declined to 25.8 percent, down from 46.1 percent, while the share of services has increased to 50.2 percent, up from 23.6 percent within the same period.

Chuka Uroko

Best Steps to Invest in the Real Estate Industry in Nigeria

    1. Best Steps to Invest in the Real Estate industry in Nigeria They say if one thing is pricey however worthwhile, you may notice the way to induce it. And property in relevancy land and buildings is one issue that's price your investment within the long run. That said; contemplate these eight steps as you act swing your hard-earned cash within the property market. 1. Research If you're fascinated by the property market, there square measure nice platforms to seek out data you wish, together with the mass media, on-line and around you. consult with locals. Visit Google and relevant Nigerian property sites. produce Google alerts for search terms. This way, you may continually be within the loop. you have got to grasp it before you'll get into it. it's vital to notice that property data in Nigeria is scarce and so needs effort on your half, whether or not you're within the country or abroad.

Why Nigeria is the Best Business Location for Investing Real Estates Account Nothing compares to assets Investment Opportunities in African

1.. Why Nigeria could be the Best Business Position for Investing Real Estates Account Nothing even compares to assets Investment Opportunities in African nation if you've got enough cash to interact in it. 

There are many business opportunist however currently property investment in Nigeria Republic of African nation brings back your capital with profits sooner in comparison to different businesses in Nigeria. For those who haven't detected concerning it, assets investment in Federal Republic of African nation has brought an optimistic trend in comparison to different businesses investments in Nigeria. 

No matter what, assets Investment in African nation are that the most effective business you have to place into consideration. African nation features a most readily useful contributive atmosphere for business and investment compare to different countries in geographical area and because the nation grows, many folks often depart rural life to urban life and for this reason, there's invariably a lack of housing in each town and city in African nation.


2.. There are many business opportunities in African nation however assets investment out competes each of them. With this text thus, we are inclined to create you the main advantage of finance in assets in African nation in comparison to different businesses. There are many blessings of assets investment in comparison to different investments in African nation. For example, if you get stocks from the supplier, you'll try to induce profits once that stock appreciates. You'll have the dividends proclaimed by the corporate in mind. In the event that you invest shackled, the interest earnings from the bonds will also be the goal with this you create the investment. But, in assets investment, you receive plenty of selection of benefits. Let's have a look. You may even have a sincere management over your income in the event that you purchase properties in Nigeria that fetch you rental incomes month when month. In the event that you bear the statistics, rental incomes have invariably been abundant larger compared to dividend incomes you receive by investment in stocks. Needless to say, in stocks, if you're extraordinarily lucky, a abrupt surge within the buying price of your stocks could easily get you smart returns in the event that you sell the stocks at the foremost opportune time. 

If you're keen enough, you will have ascertained that the important estate investments in Nigeria appreciate to a reasonable extent over an amount, in each four years, the rental dues doubles looking on the realm during which your property is placed. Another reason you have to purchase property is that income can behave as a sincere protection against inflation. Not with standing inflationary trends prevail, after you receive income from your own property investment, it'll behave as a support consequently of one's mortgage payment won't bear a modification owing to inflation. You understand property investment or property investments appreciates over and yet again and as you retain paying off your mortgage amounts, the equity price of one's property investment are likely to be increasing. This is utilized by going for a loan appreciate the equity price of the property. Any establishment or banks are likely to have the ability to extend loans to you.
3. © Copyright 2014 by Zebra Technologies Limited. All rights reserved. For your computer data, in the event that you blessed enough to induce home in very smart vicinity like Banditry and Igbesa at a sincere value, may be but selling price, you'll have the ability to observe cash out of it. There's a model some those who get properties at lower costs and flip them at intervals a short time of concerning half a year to create smart profits. This business is quite money making however, you desire to tread with caution in the event that you wish to try and do it. You wish to select the properties that area unit absolute to comprehend and more, the properties must have a clear title. In the event that you with consideration search, you're guaranteed to clinch such deals. By: Property Finder Nigeria

Best Cities To Invest In Real Estate In Nigeria and Why?

This really is some some questions posted if you ask me by among my  subscribers which I is going to be writing on and sharing with you. You can find different factors which will determine the profitability of one's investment in Real estate.
 
1) Number one is demand-The rate of demand will have to come first  before any other considerations , a lot of reasons will make people to migrate to a place, mainly for economic reasons . In Nigeria three cities will come into mind Lagos, Abuja and Portharcourt.


2)Accessibility to a town can also determine the real estate growth in a city. This is why towns in Bayelsa state may not attract real estate growth despite being very rich in oil.
3)Availability of land and materials will also affect real estate growth though this is not as important as other considerations.
4)Cost of Construction in a place. Where materials and cost of  construction is low and accessible then real estate will likely thrive in such places.
5)Capital generation of a town will also determine how real estate will thrive in such areas.

6)Increase in economic growth will also make real estate to be attractive in a town.

7)Influx of human traffic to a place will definitely drive real estate.

8)Attraction to investors will also determine how real estate will be profitable in a town.

9)Absence of good residential buildings will make the good and new ones to be very desirable to the populace.

10)Availability of mineral resources.

11)Availability of infrastructural resources.

12)Availability of transportational resources like airport, train stations sea port e.t.c

13)Availability of communication facilities.

14)Good government policies and regulations-Lagos and Abuja will come
to mind in this case, recently houses are being demolished in lagos
because of improper government permit before construction. New investors are now more careful and afraid to build because of fear of demolition.
Getting the permit on itself is very difficult at present because of the bureaucracy involved.

15)Availability of natural resources.

16)Is the town transitory? Hotel will be good for such areas.

17)Does it have plenty of government parastatals? with this you can be sure of growth in such area.

19)War and trouble will definitely affect real estate negatively.

20)Good climate

Going by the points stated above,Abuja, Lagos and Portharcourt will  beat the rest in Nigeria, but they also have advantages and  disadvantages too. Abuja is good for hotels, for low income earners you
can build hostels as common in Europe. Political meetings will always  be held in Abuja and anytime there is a big programme the hotels are  always completely booked.

But Abuja has developed to a very high rentage zone and total separation  of the rich neighbourhood from the poor neighbourhood will at the long  run not help the real estate industry there, that is why there are uninhabited  houses yet people are going far to the suburb to live in slums. But in  Lagos, in every rich area, very close by you will see poor neighbourhood  zone, this helps to create spillovers from rich neighbourhood.
So if you are an investor you can just get properties  close to these rich areas redevelop and clean up the place then you can  have the affluence of your neighbour rubbing off on the properties in the poor neighbourhood though very close to the rich.

Lagos has very high rate of human traffic and influx of graduates from  other states will always make it very attractive for real estate,  Portharcourt despite the kidnappings is the unofficial capital city of  Niger Delta the oil rich region, so expatriate are always attracted to  the place, there you are sure to make very quick and profitable investment.

In conclusion, economy is the chief driving factor of a real estate
investment in an area and for Nigeria ,Portharcourt and Lagos towers
above the rest.

Source

25 Acres of Agricultural Land - Lagos

Date:
    Apr 4, 2014

Type:
    Land

State:
    Lagos

Location:
    Near Badagry, Lagos

Phone:
   

Company / Site name:
    Hm Properties & Co. Nigeria

Price:
    2,600,000.00 NGN

#1
25 Acres of Agricultural Land, Near Badagry, Lagos. N2.6m /acre

Commercial Property fo sale: Ikorodu Town, Lagos State for Sale

An Event Hall On Three Floor + A Pure Water Factory With A Block Making Plant Machine With Facilities, Like Generator, Complete Water Treatment Plant On Two Plot Of Land @ Sabo Road, Ikorodu N120m

Landed Properties In Lagos

Ad Details:
ACING THE LEKKI EXPRESSWAY
1. 6 Acres (2 Hectares+) opposite General Paints by Lekki Gardens II, 20M per plot.
2. 1 Hectare adjacent (almost opposite) LBS, 300M.
3. 1 Acre opposite NIPCO filling station, Olokonla, 150M.
4. 1 Acre opposite Abijo GRA, 90M.

Nigeria: Experts Highlight Importance of Social Media in Property Transactions

Over 70 percent of sales made by ARM Properties in respect of the Lakowe Lakes Golf and Country Estate, came from those who accessed the company's website. This was disclosed by Tunji Osinulu in his presentation at the 2nd edition of Property Buyers' Forum hosted by real estate consulting and advocacy company, Messrs 3Invest as part of the Social Media Week 2014. Osinulu who attested to the use of online platform in the sale of the award winning estate, declared: "Over 70 percent of the sales we have made on Lakowe lakes have come from our website."


Affirming the views expressed by Mr. Osinulu, Mr Femi Akintunde of AM Facilities who delivered a paper on "Online benchmarking tools in facility management" , stated that real estate, being a wealth creation asset, is essential to benchmark what your peers are doing.
In his own contribution, Mr. Tayo Sonuga highlighted the importance of social media in property marketing and sales. "When Haven Homes first got on social media, we were educated by 3Invest on the like mechanism used to direct traffic to our site," he said.


The event, which had "Building your property ladder through social media" as its theme, hosted a real estate job creation clinic which confirmed that the built sector offers the largest creation in any continent.
The host, Ms Ruth Obih, delivered a presentation on how to employ social media as a business tool. She explained that a successful social media requires a plan and one must narrow their focus and determine what platform their target audience are on.

The event as featured a mortgage clinic by officials of Diamond Bank and a wealth creation clinic anchored by Mr Raphael of ARM Investment.
Property Buyers' Forum is an annual event that is designed by 3INVEST to connect home sellers and buyers.

WEF on Africa 2014: Positioning Nigeria for infrastructure investment

In 2008, when Kingsley Eze, a Nigerian entrepreneur, met with Norman Markgraaff in South Africa to explore partnerships in real estate projects in Nigeria, it was clear to both parties that he was swimming against the tide. Corruption and 419 fraud letters hung like a halo over Nigeria. Boko Haram was yet to join the mix. As Chief Executive of Private Estates International, Norman had been in the real estate business for over 35 years, built thousands of housing units, expanded the business into other parts of Africa but had never considered the Nigeria market.

 Kingsley had a simple strategy for the meeting. He would acknowledge the gory stories of fraud but would show that they were not endemic to Nigeria. He would recount how Vodacom passed up an opportunity to acquire a GSM license in Nigeria, and how MTN, which at the time was the number 3 operator in South Africa, took the leap of faith with Nigeria and became the biggest phone operator in Africa. When Norman asked for another example, Kingsley discussed the performance of Shoprite, a South African retailer that had recently entered the Nigeria’s retail space. If that meeting was held today, Kingsley would have proudly informed Norman that Shoprite has become so successful that it plans to build 44 retail outlets within the next three to four years. According to the Economist magazine, the seven Shoprite outlets in Nigeria sold more bottles of Moet & Chandon champagne than all the Shoprite outlets in all of Johannesburg combined.

 That is the quantum of return on investment Nigeria delivers. According to Jim O’Neill, an economist, Mexico, Indonesia, Nigeria and Turkey (MINT economies) are expected to produce the highest return on investment in the next 10 years. In fact, Nigeria is poised to become one of the world’s largest economies in the 21st century overtaking economies such as Italy, France and the United Kingdom.

 

 This goal is realisable. Between 1999 and 2012, Nigeria’s GDP grew at an average of 7.9 percent. This is remarkable when compared with a GDP growth rate of 2.2 percent in the United States, 1.8 percent in the United Kingdom and 0.4 percent in the Euro zone, notwithstanding that Nigeria is starting from a much lower economic base. In this same period, Nigeria became the second largest economy in Africa (behind South Africa) with a GDP per capita that grew from US$700 to US$2,600.

 In this same period, Nigeria has become an attractive destination for Foreign Direct Investments (FDI). Between 2010 and 2013, Nigeria attracted over US$20 billion in FDI, equivalent to 10 percent of the total FDI to Africa. This reversal of fortune has been attributed to Nigeria’s current political, economic and demographic realities. Nigeria has had 14 years of uninterrupted democratic rule. The external debt portfolio decreased from US$36 billion (in 2006) to US$4.5 billion (in 2010) resulting in a debt to GDP ratio of 19 percent, one of the lowest in the world. Inflation has remained in the single digits. With 170 million people, Nigeria is one of the ten largest populations in the world. With over 60 percent of the population below the age of 25 years, Nigeria has more people eligible to work than otherwise.

 Despite the phenomenal economic growth, unemployment is still a major challenge. Poor infrastructure is a key driver of the unemployment profile. Nigeria’s economic growth is more remarkable given its low infrastructure stock. According to the National Planning Commission (NPC), Nigeria’s infrastructure stock is about 35 percent of its GDP compared to 87 percent for South Africa. This situation offers significant opportunities for the savvy infrastructure investor. For instance, Nigeria generates about 3,600MW of power, which is about 13 percent of its projected electricity demand by the year 2015 (28,360 MW). There are not many countries in the world that provide this level of suppressed effective demand: people willing and able to pay for as long as the service is provided.

 The NPC estimates that Nigeria needs over US$2 trillion in infrastructure investments over the next 30 years (2013-2043). To meet this investment need, Nigeria needs to ramp up its spending on infrastructure from the current 3-5 percent of GDP to an average of 9 percent over the next 30 years. Given Nigeria’s high GDP growth projection for the period, such a ramp-up would be particularly challenging for the government. Therefore, private sector investment is critical to meet this need. The government has shown commitment to private sector-led growth. In September 2013, government privatised 15 power companies. Another 10 power plants are in the process of being privatised providing further proof of government’s commitment.

 Despite these opportunities, there is no doubt that investing in Nigeria is not for the faint of heart. The country still presents significant challenges for business development. The 2014 Doing Business report places Nigeria as 147 out of 189 countries, this is a 9-step drop from 2013. The 2014 Economic Freedom report placed Nigeria as 129 out of 175 countries, also a 9-step drop from its 2013 position. In terms of corruption, Nigeria is ranked 144 out of 177 countries on the Transparency International’s 2013 Corruption Perception Index. Although the anti-corruption institutions still exist, there has not been any high profile case to communicate government’s commitment to fighting corruption. However, continued commitment to privatisation of major government enterprises may be a way to reduce the size of government bureaucracy and stem the resultant leakages.

 There is no doubt that Nigeria presents a compelling case for the infrastructure investors, like Norman, who are able to move beyond the gory “single story”. Private Estates International set up office in Nigeria in 2010 and is currently developing a track of land measuring 1,100 hectares into the new Enugu Lifestyle & Golf City. The city, which is built around an 18-hole golf course, has a residential, commercial and industrial layout. This investment happened because an entrepreneur was willing to tell a compelling investment story and the investor was willing to listen with objectivity.

Lagos Property: 4 Bedroom Town Houses Content from Nigeria Property

Type: House

Bedrooms: 4

Property Description

4 Bedroom Town Houses for Sale at Parkview

Price: N180M (Asking)

For inspection please call 08068272981 or 08182933434.

‘We are bullish in tracking opportunities in the market’

The retail and office space markets are, understandably, flourishing in sub-Saharan Africa, particularly in Nigeria, and as demand in this market continues to come from increasingly sophisticated consumers and international retailers, the need for products of international standards becomes imperative. FUNKE OKUBADEJO, a director in Real Estate at Actis – a private equity manager that prides itself with ‘power of capital’ – speaks with CHUKA UROKO on how her firm is pioneering the development of these products, among other issues. Excerpts:

Actis’ real estate portfolio in sub-Saharan Africa (SSA)
As a matter of introduction, Actis is a private equity manager focused on emerging markets, including sub-Saharan Africa (SSA) and Africa in general. It has about $5 billion funds under management and $1.8 billion of this has been committed to Africa. In real estate, we are primarily focused on SSA. We have investment in Nigeria, Ghana, East Africa, Tanzania, Kenya, Mauritius and Zambia.
We have pioneered the transitioning of the traditional shopping culture to more modern shopping malls with our initial investment in The Palms in Lagos. We have done the same with the Accra Mall in Ghana. We also invested in Ikeja City Mall which is still the largest retail mall in Lagos. We are also looking at office space. We want to pioneer this segment as well. Our office space project in Accra is the first green-certified office building coming to the market in SSA. We followed it up with The Heritage Place in Lagos which is still under construction and is expected to be delivered in the fourth quarter of 2015. It promises to be the first green commercial building in Nigeria. Heritage Place is bringing a total redefinition in office building in terms of what an office will be. It is unique in terms of specification and design; it is a modern eco-friendly product coming to the market.

Investment plan for 2014
Our main focus is on growing consumer asset classes. We will also be investing in infrastructure in the emerging markets where we are present. Looking at Nigeria which is a key market with a projected GDP growth of 6-7 percent, we see significant opportunity for us to make additional investment in the key areas such as commercial developments in retail and office segment. We see what we are doing as a great enabler of the growth of retail because we don’t want to see the retailers bothering about making investment in real estate space.
We are looking at big retail centres where people can do their shopping and also relax. From the real estate point of view, this is an area we have seen significant demand from consumers. We are also looking at opportunities in industrial business where we can provide facilities for big industrialists to warehouse their products. Moving out of Lagos, we also have investment in Abuja which is the Jabi Lake Mall. We are looking at other key cities in the country.

Challenges of investment
The major challenge here is being able to execute the project in time and on budget. We have the benefit of having done projects in other markets in Africa and so, we  leverage on our experience to execute our projects. We develop on an existing execution platform; we have a dedicated team that works on our key markets. This has helped to manage the challenges of execution in this market. We have been able to deliver in time and on budget and this has created a level of credibility for us in the market. In all we do, we don’t get any kind of incentive from government. For us, it is important that businesses are sustainable in their own right and not dependent on anything from the government.

Investment in retail outside the city centres
We are considering this quite alright, but location is very important in real estate investment. Location has to do with visibility and accessibility. To the extent that land is out there where people can see and get there easily, I think we will consider that. Certain projects are not carried out here because of the cost of land. Most times, it is difficult to get a sizeable piece of land that can accommodate a mall in the middle of a city centre or a highbrow area. This is not peculiar to Nigeria; it is all over the world. We don’t have any issue moving out of the city centre as long as there is a good transport link that can connect consumers to the mall.

The next five years of investment
We have done The Palms and Ikeja City Mall; we have The Heritage Place and Abuja Jabi Lake Mall under construction; we have appetite to do more. We are very bullish in tracking the opportunities in the market by continuing to replicate what we have done before in the primary cities of Nigeria. We expect to see more activity; we have developed capacity much more than we had before, giving us a lot more ability to roll out more projects.

Investment in residential projects
This is an area we are considering to look at, but our key focus is on commercial real estate and that is where we have developed capacity to deal with. The residential area is where more people have capacity to address. We involve ourselves in the commercial segment where there is less capacity locally, an area where a significant amount of equity capital is required and where there is ability to raise debt. We basically focus on areas where we see there is a significant capacity gap, and not just anywhere we see opportunity that is compelling.

Heritage Place as a green office building
When we talk about a green building, we are looking at sustainability which has to do with impact on environment. It also has to do with the use of energy and how this relates with the resources in the environment. The key issue about Heritage Place is the design and how much energy it is going to consume. It has been certified by Leadership in Energy and Environmental Design (LEED) that the design would achieve at least 20 percent more energy savings than a comparable building anywhere in the world. When we look at our own environment, we see that that number would be higher up to 30 percent or more.

Nigeria: Part of Elephant Building, 22 Rooms Burn in Lagos

Property worth millions of Naira were destroyed in Lagos last weekend during different fire outbreaks across the state.
The fire outbreaks affected over 22 rooms, a two‑ bedroom apartment in Osoba Street, Iyana‑ Ipaja axis and a section of Elephant cement building at secretariat, Alausa.
Of the 22 rooms, 10 rooms were razed in the fire outbreak at Badia, Yaba Local Council Development Area, LCDA, 12 in Idimu axis of the state.
Sources said that the fire outbreak in Badia started around 04:00 am on Saturday, while the two‑ bedroom apartment in Osoba Street started at about 02:06 am.
Vanguard gathered that these fire outbreaks were due to electric surge which apparently started in one of the rooms before spreading to others.
In Alausa, Vanguard gathered that the fire which razed a section of the Elephant cement building, ASSBIFI road, Alausa, Ikeja occurred at about 8:00 am on Sunday.
Though, no casualty was recorded but eyewitnesses said that all they saw was the building enveloped by smoke.
Confirming the incidents, Director of Lagos State Fire Service, Mr. Rasak Fadipe said; "For the fire outbreak on Saturday, these were among the seven distressed calls the fire officials in the state responded to."
On the Elephant house inferno, Fadipe blamed the cause of the fire on electric surge from one of the split air conditioner in the section. According to him, "we received the distress call at 8:10 am this morning (yesterday) from one of the officers who ran to our Alausa fire station."
He said that the fire affected a department on the fifth floor of the building, adding "it was due to our timely response that helped reduce the effect, if not the damage would have been more ."