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estate

Achife emerges 10th President of Rotary Club of Ibadan Bodija Estate

by admin December 9, 2024

A former Chief Executive Officer (CEO) of Ibadan Electricity Distribution Company IBEDC, Mr. John Kingsley Achife has become the 10th president of the Rotary Club of Ibadan Bodija Estate for the year 2024-2025 also known as Rotary Magic year.

Mr. Achife a Paul Harris Fellow accompanied by his wife, his son, and relatives, took over from Rotarian Olorunfemi Ayo Samuel. Also, members of the board of the club were inaugurated during the investiture which was held at the Rotary House Bodija Estate.

In his acceptance speech, Mr. Achife said ” I stand before you today with immense gratitude and a deep sense of humility as I accept the honour of serving as the President of the Rotary Club of Ibadan Bodija Estate. This moment is a testament to the trust and confidence you have placed in me and I pledge to uphold the values, traditions and principles that make Rotary a beacon of service . As a Rotarian, I am reminded of our motto ” Service Above Self”. This motto is not merely a phrase but a way of life —- one that challenges us to put humanity’s needs above our own, to serve with empathy and to create a better world for future generations. Let us remember that our strength lies in our unity. As the saying goes “. Together, we will accomplish great things and together, we will leave an indelible mark in our community.

The chairman of the occasion Mr. Chuks Nwani represented by Mr. Babatunde Bodunde urged members to continue to render selfless service to humanity.

Earlier, the outgoing president, Rotarian Ayo Olorunfemi said his tenure embarked on projects that impacted the community positively.

Present during the investiture were the Assistant Governor, Mrs. Bisi Yomi- Yinka who represented the District Governor District ( 9126) Mr. Kayode Olowolagba who carried out the change of baton, Rotarians from other clubs, Rotaractors from the University of Ibadan, staff of IBEDC, among others.

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December 9, 2024 0 comment 13 views

Nigeria

Estate chairman discovers only his 6-year-old child is biologically his

by admin December 8, 2024

An estate chairman reportedly caused a stir after discovering that he is the biological father of only child out of his four children, aged 6, 21, 18, and 12.

The revelation, which was shared in a viral post on X (formerly Twitter), alleged that the shocking discovery led to a dramatic scene in the estate.

Estate chairman discovers only his 6-year-old is his biological child out of four kids — For illustration purpose.

According to the post, the chairman found out that only his youngest child, a 6-year-old, is biologically his, while the other three children, aged 21, 18, and 12, are not.

The post read: “My estate is on fire. The Estate Chairman just discovered he is the real father of only one (6yr) of his 4 children (21yr, 18yrs, 12yrs).”

As the post gained traction online, numerous individuals took to the comment section to share their thoughts and reactions.

See some reactions below:

@oye_bobs: “I really don’t understand why fathering a child that’s not yours is such a big deal.”

@EjiroAtenaga: “That is wild, this will be so painful for him.”

@xtralarging: “The pattern of the birth spacing is something to worry about. It’s intentional but the man wasn’t paying attention. Quick one, dear men, if you’re credit worthy to raise funds for burial, you can equally raised funds for DNA test, men don’t know people will quickly contribute it.”

@Emmylexxz: “See the kind of Xmas gift they just gave to your chairman.”

@Olomoda_: “Something that did not even happen. Abeg, what’s the name of the Chairman and the Estate. I just want to be sure.”

@Orilomoolola: “This madness will not stop until we criminalize paternity fraud.”

@harbmanation: “At least he get one …make he just go for Thanksgiving tomorrow likkedat.”

SEE POST:

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December 8, 2024 0 comment 12 views

Nigeria

Blord names estate after Davido

by admin December 3, 2024

Cryptocurrency expert and business mogul, Linus Williams, popularly known as Blord, has announced that his estate has been named after musician Davido.

He made this announcement on his page on Instagram, stating that it is a gesture of love and respect for the music icon.

The 2.5 billion naira estate is located at Ebenebe, Awka capital city.

He also revealed and to name another estate which is still under development, after Wizkid, upon completion.

Blord is a Nigerian cryptocurrency entrepreneur, digital businessman, and the founder of Blord Group.

Blord’s companies, including Blord Real Estate Ltd., Blord Jetpaye Ltd., and Billpoint Technology, operate in diverse sectors such as real estate and fintech, with a significant focus on cryptocurrency trading.

See video…

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December 3, 2024 0 comment 16 views

World

Burglars Break Into Windsor Castle Estate, Home to William & Kate

by admin November 18, 2024

Prince William and Kate Middleton endured a scary experience at their home last month.

Burglars allegedly broke into the grounds of Windsor Castle—the estate that includes Prince and Princess of Wales’ primary residence—in October, police confirmed to NBC News.

Thames Valley Police told the outlet it received report of a burglary “at a property on Crown Estate land” just before midnight on Oct. 13. Police said the burglars entered a farm building and “made off with a black Isuzu pickup and a red quad bike” before leaving for a nearby town.

They added in their statement, “No arrests have been made at this stage and an investigation is ongoing.”

The location of the burglary was just a few miles away from Adelaide Cottage, where Kate and William live with their children Prince George, 11, Princess Charlotte, 9, and Prince Louis, 6. King Charles III and Queen Camilla, for their part, reside primarily in London’s Clarence House, near Buckingham Palace.

Neither Buckingham Palace nor Kensington Palace responded to NBC News’ request for comment.

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November 18, 2024 0 comment 27 views

Nigeria

Dembélé reveals plan to retire at 34 to pursue real estate business in Africa

by admin November 18, 2024

Ousmane Dembélé, currently enjoying a standout season at Paris Saint-Germain, has outlined his retirement plans, revealing a clear vision for life after football.

Speaking on The Bridge podcast, the 27-year-old winger disclosed his intention to step away from the game at the age of 34 to pursue a career in real estate.

Dembélé has been in scintillating form this season, contributing 12 goal involvements in 13 games across all competitions, including five goals—just one shy of his total from the previous campaign.

As a regular in the France national team, the former Borussia Dortmund and Barcelona star appears to be in the prime of his career.

Despite his current success, Dembélé has expressed his desire to retire in 2031 and focus on investments in real estate, particularly in Africa and France.

His contract with PSG runs until 2028, leaving room for a few more years at the highest level before transitioning to his next venture.

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November 18, 2024 0 comment 27 views

Nigeria

How estate manager, residents planned to upstage me —HOB Estate’s developer

by admin October 15, 2024

CHIEF Olusegun Bamgbade is the Chairman HOB Estate Limited, the developer of the popular HOB Estate located in Akure, Ondo State.

The estate, built in 2007, remains one of the estates commissioned under the Federal Government’s Public-Private Public Partnership (PPP) arrangement in housing.

At present, the developer of HOB Estate is not happy about the turns of event in the estate, alleging how the estate manager, who he had already sacked, teamed up with some residents in an attempt to allegedly upstage him of the properties.

The housing estate, comprising 119 units developed in the first phase, and over 200 units altogether were allocated to different occupiers, who, according to Bamgbade, were supposed to be National Housing Fund (NHF)’s subscribers.

However, the occupiers (with the exception of a few), Bamgbade said, were not prepared to process any mortgage arrangement.

Rather, he alleged that the occupiers preferred to be living rent-free in the buildings while his company continues to service debts accrued for the construction of the estate 17 years after.

“Imagine someone living in a house for 12, 14, 17 years rent free and calling himself landlord without having paid for the house where he lives.

“Even the estate security guards are being paid by myself and my company from the little rents accruable from my other properties in Lagos.

“As at June 2024, they are owing over N14 million on the estate security dues alone, yet I keep on paying for the security services on their behalf,” he said.

Bamgbade described the latest issue in the estate as “hydra-headed.”

“Firstly, the security company officially engaged by my company since January 2019 was chased away on the 1st of April, 2024 with thugs and dangerous weapons. I thought it was April Fool until the security company officially submitted an incident report on the matter in my office same day.

“We reported the matter to Zone 17, Akure.”

Before then, he alleged: “The estate manager teamed up with some recalcitrant occupiers of my estate to upstage me and change the management of the estate in order to cover series of atrocities.”

Bamgbade alleged that the sacked estate manager had assured the recalcitrant occupiers that he (Bamgbade) would never show up in Akure having convinced him long ago that Akure was a den of kidnappers, “that I should not venture to come over to Akure for whatever reason if I don’t wish to be kidnapped.”

“This is someone I trusted so much and I believed whatever he ever told me not knowing that it was a ploy to keep me away from my business premises for as long as necessary.

“Until the SSS assured me of my safety, I never touched the land of Akure since July 2017 when I attended the burial of the mother of my bosom friend .”

On the second day of the burial ceremony, he said the estate manager visited him at the hotel in Akure and staunchly advised him against visiting the estate “to keep me away from kidnappers, but I refused.”

“ I refused and rejected his advice because of the security measures I already put in place unknown to anyone including himself. So I visited the estate for the first time after four years. Can you believe that May 8th 2024 is also my 1st time of visiting the estate in Akure after seven years ie 2017 strictly because of the fake security alerts from the sacked estate manager.

“I have since been in Akure to oversee my business and there is no kidnapper anywhere. The sacked estate manager’s idea of kidnappers in Akure was phantom,” the developer of HOB Estate said.

He continued: “While going round on estate inspection on the 3rd of June, 2024, I discovered mind-boggling issues – over half of my estate has been taken over; fenced with blocks; some of my buildings in the estate inclusive. Upon investigation, it was discovered that the sacked estate manager and some residents were responsible for the criminal acts. I immediately reported the matter again at Zone 17, Akure.

Beyond prosecution, Bamgbade wants these residents to vacate the properties so he could make better use of them. They have been living in the estate rent-free for several years and pretending to be waiting for a PMI. If you want to own a property, it is your duty to secure your loan for property ownership, and not the responsibility of the property developers. Those of them who are genuinely interested in owning properties in the Estate have done the needful. Those crying fouls are the squatters masquerading as landlords and living rent-free in the Estate.

Meanwhile, in a recent Save-Our-Soul report, the residents had accused HOB Estate Management of eviction threats, demanding government’s intervention.

They lamented that the management of the HOB Estate has been threatening every member of the estate of converting their ownership of the units to rent or outright forceful eviction.

The house owners under the mortgage finance arrangement, they said are expected to embark on installment payment through a PMI to be given to them by HOB Nigeria Limited.

“In recent times, he has been threatening every member of the estate of converting our ownership of the units to rent or outright forceful eviction, “ the residents said.

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October 15, 2024 0 comment 33 views

Nigeria

Real estate, path to sustainable economic development —Igwe

by admin October 15, 2024

IN order to navigate through the current economic challenges and launch Nigeria on the path of sustainable economic development, an estate surveyor and valuer, Ebere Igwe, has urged Nigeria’s government to be more decisive on using the real estate sector to drive Nigeria’s economy on the path of sustainable development.

She urged the government to begin to look in the direction of the real estate sector.

She said the advice has become imperative following continuous decline in revenue from the oil sector.

According to her, time to embrace a gradual shift from oil to real estate is now, adding that the sector’s capacity to deliver sustained prosperity and redistribution of wealth cannot be over-emphasised.

She said: ”Real estate investment has the potential to hedge growing inflation, create employment, reduce poverty, bridge the housing deficit, redistribute wealth and enhance government revenue.

“Real estate is the roadmap to sustainable economic recovery. The government is currently faced with the trifecta of mounting debts, subsidy and low revenue; real estate sector can help to grow government revenue.”

The sustained rebound of the sector aftermath the corona virus pandemic, and its strong performance thereafter, according to the estate surveyor and valuer, was evidence of real estate’s pivotal power to drive economic transformation.

She said the sector could level up in contribution to Gross Domestic Product (GDP) as it is in countries of Europe and America, where it contributes about 18 percent to GDP.

“Experts have predicted a contribution of a minimum of 10 percent in a few years’ time, as against the present contribution which is very low,” she said.

She emphasised that the real estate sector “holds the key to addressing the growing unemployment in our country,” adding that the sector connects to the overall economy from a number of perspectives.

“It reflects of the overall condition of the economy; it is also the physical infrastructure for economic activities either offices for businesses/governments, shopping malls or markets for retailers, hotels for tourists and business travelers, warehouses and industrial space for manufacturers and lastly homes for the populace.

“Though a reflection of the economic activities, it can also drive growth and job creation in the economy if harnessed with the right enabling environment by the different levels of governments – federal, state and local governments,” Igwe said.

The real estate consultant explained that by the real estate’s very nature, the sector involved several value chains that involve labour at every level.

She said: ”Increased activity in the real estate sector will significantly address the nation’s unemployment challenges, support wealth creation and stimulate economic activities that would ensure that people have means of livelihood.

“When people have means of livelihood, they will be able to pay tax, which is also used to refinance the economy and you have multiplier effects, and individual businesses thrive on the back of that. ”Until we do this, we might be waiting for a fairly long painful journey out of our economic challenges,” she said.

As the country looks to reduce its poverty levels, she is of the opinion that real estate can provide a sustainable approach to get people out of poverty and provide sustainable prosperity.

“There is no business that does not require real estate and there is no human being that does not require real estate, so the sector is key, the potentials are there, the opportunities are there, and now that a semblance of properly focused economy is appearing, if properly managed by policy makers and the government in particular, other sectors including the real estate would thrive,” she said.

Igwe charged professionals and players in the industry on the need to be more strategic, to advance the practice frontiers and in order to be more relevant in the nation’s landscape.

“So, in the intricate context of Nigeria’s economic challenges, the real estate sector offers a beacon of hope, offering potential amidst uncertainty. If properly harnessed, the Nigerian real estate sector offers the pathway to building a sustainable economic future.

“Significant investment in the sector, in addition to enabling business environment reforms and financing support for Nigerians can accelerate the sector and its contribution to the growth of the economy and GDP,” she said.

Looking at the current realities, she said there was no doubt that things are hard, noting that the Federal Government’s economic reforms; removal of fuel subsidies, currency exchange rate unification and some other economic policies had created waves of uncertainty and hardship.

According to her, cost-of-living crisis, biting inflation, and skyrocketing prices of goods and services, were profoundly impacting the citizens’ purchasing power.

“Inflation continues to drive up prices of essential goods like food and fuel. Figures from the National Bureau of Statistics (NBS) reveals inflation rate of 33.40 percent in July 2024.

“For many Nigerians, this means that the struggle against rising costs is far from over.”

“All the sectors of the economy are feeling the heat and impact.

Real estate sector for instance is being adversely affected by fuel subsidy removal, and this is aggravating the housing challenge. High cost of fuel, for example, has led to increase in transport fare, increase in cost of taking building materials to sites, prices of building materials have shot up, because producers of the materials rely largely on petroleum for energy, as electricity supply is not stable.

“These are having consequences on rent, affordability, housing delivery and house gap, defaults in payment and renewal of rents for commercial and residential accommodation.

“The social impact of the economic crisis, is becoming deeper and deeper, many Nigerians struggling to afford basic necessities, “ she said.

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October 15, 2024 0 comment 35 views

Uncategorized

Buyer-seller behaviour in South-West’s real estate market

by admin October 13, 2024

THE real estate market in Nigeria, particularly in the SouthWest region, has always been dynamic, progressive and full activities, reflecting the broader and vibrant economic conditions of the geopolitical zone. However, in recent years, the market has witnessed significant changes in terms of low activities and crash dive liquidity, whereby the ability of buyers and sellers to initiate and complete transactions has been greatly influenced by economic conundrum. Thus, this write-up seeks to enunciate on how such uncertainty affects real estate market liquidity, focusing on both residential and commercial sectors, while considering the rate of transactions, price trends, and stakeholder reactions to the real estate market volatility.

In the South-West, particularly in major cities like Lagos and Ibadan, the property market remains active, though the economic volatility is basically what determines what actually happens in the market, how frequently properties change hands. Residential transactions have witnessed fluctuations, with the total market projected to reach a transaction value of $14.04 billion in 2024. Thus, investors, especially in the commercial property sector, have adopted cautious strategies, preferring to delay purchases or divest to maintain liquidity.

The prices of goods and services have consistently moved in an upward direction with that of the real estate products not speared, and the driving forces for this have been inflation and depreciation in the value of the naira against the dollar, which has eroded the purchasing power of the people and cause upsurge in construction costs. This has greatly affected the middle-class buyers and renters, who now face affordability issues, especially for new developments. On the commercial side, some areas in the major cities in the South-West have seen varied investment returns, particularly in office and retail spaces. While in other locations, it is a reversal.

However, economic factors such as inflation, high-interest rates, fluctuating exchange rates, and government policies affect transactions in commercial properties and thereby constrain real estate activities in the geopolitical zone. The naira’s depreciation has significantly increased the cost of building materials and caused market sentiment, leading to cautious investor behaviour. Meanwhile, the slow economic output has reduced the speed at which properties exchange hands, as buyers delay decisions or seek better financing options.

Without mincing words, the economic uncertainty currently witnessing in Nigeria has deeply affected the real estate market’s liquidity particularly in the southwest region of the country. Both residential and commercial real sectors have faced challenges in terms of real estate investors apathy to invest in real estate sector. Price increases, slower transaction rates, and cautious investor activities underscore how economic factors like inflation and currency depreciation influence the market. For the market to stabilize, improved economic conditions and policies that enhance affordability and encourage investment will be essential and entrenched in the region.

Olufemi, an estate valuer, is of Diya, Fatimilehin & Company

Read Also: ‘We are all humans’, Fireboy DML speaks on artists’ dispute

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October 13, 2024 0 comment 29 views

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Lagos estate agent allegedly defrauds client of N36m

by admin August 10, 2024

A 48-year-old estate agent, Nonso Ibekwe, was on Friday, arraigned before the Ebute-Metta Magistrate Court in Lagos State, for allegedly defrauding a client, Samuel Ugbo, of N36m under the pretence of selling land to the client.

The defendant, who was said to have committed the offences sometime in 2022, is facing three counts bordering on conspiracy obtaining and stealing preferred against him by the police.

The incident happened at Plot 705, Festac Phase 2, in the Abule Ado area of the state.

According to the prosecution, Ibekwe, along with his accomplices who are currently at large, deceived the complainant, Samuel Ugbo, into paying N36m for six plots of land.

The prosecutor said Ibekwe allegedly obtained the N36m from Ugbo under false pretence.

The court was informed that the complainant, Ugbo, had been led to believe that the land was available for purchase, and in good faith, transferred the money to Ibekwe.

However, after the payment was made, it became clear that the land transaction was a sham, which led to the charges against Ibekwe.

According to the charge, the offences committed contravened Sections 325, 314, (1),(2),3 and 287 of the Criminal Laws of Lagos State, 2015.

However, the defendant pleaded not guilty to the charges against him.

Consequently, Magistrate Waliu Salami, granted him bail in the sum of N1m with two sureties in like sum.

He said the sureties must provide evidence of tax payment to the Lagos State Government and have their addresses verified.

The case was adjourned till September 18, 2024, for mention.

August 10, 2024 0 comment 23 views

Uncategorized

‘Bank Recapitalisation Key To Real Estate Devt’

by admin August 9, 2024

As Nigeria’s banking sector undergoes crucial changes through transformative recapitalisation, the chief executive officer (CEO), of Manroe Realty Limited, a visionary real estate company, Dr. John Edumoh has said the process will reshape various sectors of the economy including increased access to finance for real estate development.

Dr. Edumoh while responding to questions from journalists in Abuja, reiterated that banks across Nigeria, due to recapitalisation, are strengthening their capital bases to meet new regulatory requirements as well as enhancing their financial stability, and lending capacity.

The real estate developer, who described this crucial change, driven by the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) to have profound positive impacts on the Nigerian real estate sector by creating a fertile ground for companies like his to grow, also stressed that as banks bolster their capital adequacy ratios, they can extend more substantial loans and credit facilities to the real estate sector.

In his understanding, the recapitalisation is also set to enhance Nigeria’s appeal to foreign investors, adding that a stable and well-capitalised banking sector restores investor confidence and makes the country a more attractive destination for international capital.

“Foreign investment brings not only capital but also international standards and expertise. This can elevate the quality and innovation in our projects, making Nigerian real estate competitive on a global scale.”

“Manroe Realty is keenly aware of the importance of infrastructure in real estate development. The enhanced financial capacity of banks, thanks to recapitalization, is expected to support large-scale infrastructure projects across the country. Improved infrastructure, such as roads, power, and water supply, directly benefits real estate by increasing property values and making locations more attractive.”

“The strengthened banking sector also means expanded mortgage financing options. For Manroe Realty, this is a new vista. Increased availability and affordability of mortgages will make homeownership accessible to more Nigerians, driving demand for residential properties.

As more Nigerians gain access to mortgage financing, we can cater to a growing market of aspiring homeowners”, he emphasised.

Furthermore, he said recapitalised banks are well-positioned to support public-private partnerships (PPPs) in real estate and infrastructure adding that these collaborations are vital for addressing the housing deficit and improving urban infrastructure.

August 9, 2024 0 comment 31 views

Uncategorized

Justice Ofili-Ajumogobia’s Daughter Murdered In Highbrow Lagos Estate

by admin July 31, 2024

Aribemchukwu, the daughter of Justice Rita Ofili-Ajumogobia, has been killed in her residence at highbrow Parkview Estate, Ikoyi, Lagos.

The incident occurred on Wednesday morning, with reports indicating that her body was discovered outside the gate of her home. The deceased, affectionately known as Chuchu, was allegedly killed the previous night.

A family source, who requested anonymity due to the sensitivity of the situation, revealed chilling details about the discovery. “It would appear that new household staff might have been responsible and tried to stage as if she was outside when it happened. There were signs of an attempt to clean up blood inside the house and in the compound. This was indeed their handiwork, and we observed that they were newly employed less than a month, and she was alone in the house with them. We all need to be super careful, especially with new hires,” the source added.

Confirming the murder, Lagos State Police Command spokesperson, SP Benjamin Hundeyin, disclosed that three suspects, all domestic staff, have been arrested. “Our men have arrested three people in connection to the murder of the daughter of Justice Ajumogobia at her residence in Parkview Estate. One of them is a driver, and the other two are maids. We are investigating and will further inform the public on our outcome,” the PPRO stated.

Until her death, Aribemchukwu was a practising medical doctor and had recently got married.

July 31, 2024 0 comment 29 views

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Earning On The Side Through Real Estate

by admin July 20, 2024

Real estate can be a great way to make money as an investor. Not only do real estate investments have the potential to produce excellent long-term results but also tax advantages, and they can add diversification to your overall investment strategy. Real estate has set millions of people on the path to financial freedom and could do the same for you.

However, there are several ways you could choose to invest in real estate.

Investment Properties (rental real estate)

The most obvious way to make money in real estate is to buy an investment property (or several). You could buy a home and rent it out to long-term tenants or purchase a multi-unit rental property or small apartment building. You could look into buying a vacation rental or a property you intend to otherwise rent short term. Or you could buy a commercial property (any type of property that is not residential real estate), such as a retail or office building, and lease it to tenants to generate rental income.

Real Estate Investment Trusts (REITs)

A real estate investment trust, or REIT is a special type of company designed to invest in real estate as

sets. Think of a REIT as sort of a mutual fund for real estate investment: Investors’ money is pooled to buy a portfolio of commercial properties or other real estate assets. Many REITs are traded on the stock market and are very easy to buy and sell, making them excellent choices for beginner investors and those with limited capital to invest. And, many pay consistent dividends, making them good options for investors who want steady income.

Fix -And-Flip

This potentially lucrative form of real estate investing essentially involves taking a rundown residential property, completing repairs and/or renovations on it, and then selling it at a profit. While the popular fix-and-flip shows make it look easy, flipping houses successfully requires a lot of effort and knowledge of your local real estate market.

Wholesaling

A real estate wholesaler serves as a middleman between motivated home sellers and real estate investors. A wholesaler finds cheap property investment opportunities (if you’ve ever seen those “we buy ugly houses” signs, those are typically put there by wholesalers). The wholesaler will enter into a contract to buy the property but then find a real estate investor who is willing to pay a bit more, the difference being the wholesaler’s profit margin.

Written by Matthew Frankel
Culled from: https://www.fool.com

July 20, 2024 0 comment 39 views

Uncategorized

BAUC International London Unveils Real Estate Vetting Company In Nigeria

by admin July 15, 2024

In the quest to restore trust, confidence and create safe investment haven in the real estate market in Nigeria, BAUC International London has launched a real estate vetting company dedicated to scrutinizing and listing credible and trustworthy property developers in Nigeria and Africa thus reducing the risk associated with property investment in Africa.

This is against the backdrop of many Nigerians in the Diaspora being defrauded of their hard-earned money by their relatives or family members while trying to invest in the Real Estate market in Nigeria. The company will avail Nigerians in the diaspora an opportunity to surf through real estate developers and vetted investment portfolios listed on the company website. They will also organize the Nigeria Property Show Europe 2024 to showcase the diverse and lucrative real estate options in Nigeria. This event will serve to bring well-scrutinized property developers, real estate agencies, designs, and architectural firms from Nigeria to showcase in London, Manchester, Rome, and Frankfurt come October 2024. Thus making real estate investment in Nigeria and Africa much easier.

To achieve this, BAUC International will do all due diligence associated with acquiring property in Nigeria on behalf of the client. The real estate vetting company will thoroughly vet and scrutinize all investment portfolios and advise the client accordingly and will always act in favor of the investor ensuring full implementation of the investment contract. BAUC International will also provide unbiased, up-to-date full-stack information to the investors as well as allow them to make informed decisions based on facts available to them.

Therefore, there won’t be any need for investors to travel to Nigeria as BAUC International will be their eyes in-country. Because the team is in-country based, they understand the complexity and intricacies associated with real estate in the country; an invaluable knowledge most diaspora property buyers lack. This reduces the risk of an investor losing their earned money to deceitful elements in the sector.

Speaking at the event in London, Mr Onyeaji who is the Co-founder of the company assured Nigerians and Africans in the Diaspora that BAUC International will ensure that the real estate market in Nigeria and Africa get rid of unscrupulous unethical individuals and companies who hid under the sector to carry out their nefarious activities.

“BAUC International will ensure that your dream of owning your own home in Nigeria becomes a reality. We will not only ensure you buy/invest with credible and genuine developers, but we will also ensure that you get a very affordable and stress-free investment option from the developers. The era of owning your dream home and real estate investment portfolio is now. Therefore, why send monies to your relatives and family members whom you can’t hold accountable for your building projects/property investment portfolio? Why lose your hard-earned money to one individual or company that survives on ripping off hard-working individuals of their hard-earned money? BAUC International is set up to give you peace of mind with your property investment quest in Nigeria and Africa. Our team is made up of highly qualified lawyers, certified engineers, chartered accountants, and a technical team to be your eye in-country and provide you with unbiased information on any real estate investment in Nigeria” he added.

Vitalis Nwaogu who doubles as the Group Chairperson of the company enjoins Nigerians and Africans in the Diaspora to take advantage of this initiative and the growing purchasing power of the foreign currency to diversify their income portfolio through investing in Nigeria’s High Returns on investment Real estate sector.

“We are keen to make your dream come true. You have toiled and worked so hard for every penny you own today. It’s unfair that the savory landscape inherent in the Nigeria Real Estate sector has stifled the motivation of actualizing your dream of owning a home in Nigeria. But a new dawn has come! It’s now safer to venture into any property investment project in Nigeria and Africa with the supervisory support of BAUC International. It’s now easier to own a home or invest in a real estate portfolio in Nigeria as you are now sure of whatever you are getting into,” he said.

Acknowledging the support of many Nigerians in the Diaspora towards the launch of the project, Collins Onyeaji thanked participants of the event and expressed optimism about the initiative.

Mr Onyeaji is a multi-talented and astute entrepreneur who grew up in the capital city of Nigeria, Abuja FCT and because of his keen passion and interest in real estate and the environment, he first bagged a Diploma Certificate in Environmental and Real Estate Management from the prestigious University of Abuja, Nigeria. He then proceeded to study BSc Economics as he tends to grow his knowledge and understanding of capital and the real estate market dynamics. Collins Onyeaji also has a postgraduate degree in Business administration from the University of Central Lancashire, United Kingdom where he was honored with the prestigious scholarly award by the university.

Collins’ great passion and penchant for business development played a fundamental role in his successful set up of many businesses in Nigeria and Abroad. He is the Co-founder of MEGAMAN Nigeria, a lighting company dedicated to the distribution of high-quality lighting products to real estate developers in Nigeria and Africa. He also doubles as the Chief Executive Officer of British AUC, a renowned education firm dedicated to providing international education opportunities to international students across Africa. He has also served on the boards of many UK firms and Nigerian companies among whom are, British Light and Electrical Ltd, England, United Kingdom, The Castle Realty Ltd, Dubai, United Arab Emirates.

Delivering the vote of thanks, the Chairman thanked everyone present for their time and unrelenting support of the project and pledged utmost support to each and everyone who beckons on the company’s service. Mr Nwaogu also reiterated the company’s commitment to the initiative and envisioned a Nigeria Real Estate investment market devoid of ignoble individuals and companies.

Vitalis is the group chairperson with extensive experience in business development, sales, and marketing, business negotiation certifications spanning over 35 years in the business world. His penchant for business and sales led him to bag a Diploma Certificate in Salesmanship from the prestigious National School of Salesmanship, Manchester, United Kingdom making him a qualified salesman with over 30 years of experience in the industry. This wealth of experience he deploys to BAUC International to drive and promote a vetted real estate portfolio in Africa to our esteemed diaspora clientele.

Mr Nwaogu’s vibrance and work ethic showed great determination working his way up as a salesman to being the Executive Manager at Longman Nigeria, Plc in Nigeria between the years 1998 to 2011. His love for human capital development and Pan-Africanism led him to hash an idea geared towards sanitizing the African Capital and Real Estate market making it safe for investors.

As someone who has been delegated with several responsibilities of the translational corporation across Africa by multinationals as well as the management of human and capital resources of these companies, he has earned a reputation of trust and integrity in the capital market and real estate sector, Vitalis pours this long age reservoir of skill and expertise to the Real Estate space to provide exceptional lead to the group helping the company provide a cutting edge customer experience.

July 15, 2024 0 comment 45 views

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Backbone Plans $172bn Investment In Infrastructure, Energy, Real Estate, Mining

by admin July 8, 2024

Backbone Infrastructure Nigeria Limited (BINL) has announced its intention to invest $172 billion to develop infrastructure in order to boost various sectors of the Nigerian economy.

This investment, which is utilising alternative financing options, will be allocated to mineral resources, energy, agriculture, housing, and transportation sectors for the next 22 years, a statement by the multi-national company said on Saturday.

This investment drive, according to the firm, is in line with the administration of President Bola Tinubu to increase Foreign Direct Investment (FDI) inflows into the country, while also promoting alternative financing for the construction of essential infrastructure projects.

Recall that minister of Industry, Trade and Investment, Doris Aniete, said last year that the government has secured $30bn in commitments from foreign investors.

According to the implementation of the National Integrated Master Plan, Nigeria needs consistent investment of about $3 trillion for a period of 30 years to reduce its infrastructural gap and this investment from BINL is already an added advantage.

The group chief executive officer, Henry Owonka, said the company with foreign partners is seeking approval for a joint venture model to facilitate its planned investment in the country.
Owonka emphasised that the company intends to align with the current administration’s infrastructure plan, highlighting that a consistent influx of investment, as proposed by the company, is preferable to isolated investments by other investors especially in the mining sector.

He said, “What we are looking for is for us to structure our program of investment, we are not looking for a sovereign guarantee which will deplete the foreign reserves but innovative ways to collateralise those natural resources that the country has in abundance. The president has verbally approved our request.

“The company expressed its interest in investing in a range of commodities. We are seeking approval for a joint venture model because in that way we can draw more investors not only in the country but also outside the country. Because when you have a joint venture with the government, it’s better and that’s what we are seeking rather than for them to just issue land to us.”

The CEO stating plans for the mining sector noted that the company is ready to invest $4 billion, “to explore mineral resources but we need data and that is also one of the offers we proposed so that we can bring in our expertise and help the government obtain accurate data and then we can explore those minerals. This partnership will help the government plan to reduce dependence on crude oil.
We also are doing this across all the ministries because it’s a $172 billion investment drive.”

In a presentation at the Ministry of Solid Minerals Development, the chief operations officer, Clement Kwegyir-Afful, explained that the investment drive is to reduce the huge infrastructural gap in the country.

“The current administration is looking for several investments to come in through the private sector to reduce the infrastructure gap. The NBIL has come together as a team to support the government to achieve this mandate without any sovereign guarantee.

“We want to help address the energy gap through the use of renewables, so one of our subsidiaries focuses on renewables and how we can address that. We are going to bring in innovative ways of funding through financier engineering to raise funds that would address the infrastructure gap.”

Continuing, the statement read, “Minerals exploration is one area the government wants to use to create another source of revenue shifting from oil and that is one strong area that we want to focus on. It will raise a different form of revenue.

“To do this will require a significant amount of money, so over the next 22 to 23 years, we are looking to invest $172 billion dollars. If you break this down yearly, that works to $6 billion every year in investment out of the numerous numbers the president is looking for.

“We have grouped our project into phases; the first one will be the ones that have the most impact on Nigeria’s landscape, so we are looking at hospitals, renewable energies, mineral exploration and exportation because that is where we have huge concerns and also some of the deep sea ports,” he added.

July 8, 2024 0 comment 694 views

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Court Slams N10.5m Fine On Abuja Estate Developer For Land Trespass

by admin July 1, 2024

A High Court in Abuja has imposed a fine of N10.5 million on an Abuja-based estate developer, Valington Homes, and Property Development Services, for unlawful trespass into a plot of land in the FCT.

The land, allocated by the FCT authorities to Adebayo Opabiyi was said to have been forcefully encroached upon by the company years after the lawful allocation was carried out.

Delivering judgment in a suit instituted by Opabiyi against the estate development company, Justice Edward Ekpo ruled that the plaintiff successfully established his ownership of the land known as Plot 285 at the Jikwoyi Extension District of Abuja with valid documents from the FCT.

The Judge resolved that the company was wrong in moving earth equipment, especially excavators, to the land to destroy developments carried out by the owner to establish its presence on the land.

Justice Ekpo therefore ordered the company to pay the plaintiff N10 million as compensation for the willful destruction of properties on the land.

He also ordered that another N500,000 be paid by the company to the plaintiff as the cost of prosecuting the case.

Justice Ekpo also ordered that 10 percent of the fine must be paid annually by the company until the judgment debt is fully liquidated.

July 1, 2024 0 comment 1.6K views

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