LAGOS EYES PRIVATE REAL ESTATE INVESTMENT TO ADDRESS HOUSING DEFICIT

PRESS RELEASE

 

  • Sanwo-Olu Engages Stakeholders At LASRERA Maiden Conference

 

Lagos State Governor, Mr. Babajide Sanwo-Olu, has charged real estate practitioners and investors to work with the Government to create a home ownership model that will help the her address the deficits observed in housing market in the State.

 

The Governor raised concern over the huge gap observed in the provision of mass housing to large number of residents, describing the situation as unacceptable. He said the State Government was ready to bridge the gap by partnering the private sector and working with stakeholders to ensure people have access to viable home services.

 

Sanwo-Olu spoke at the maiden Policy Roundtable Dialogue with the theme: “International Best Practice on Real Estate Regulations”, organised by the Lagos State Real Estate Regulatory Authority (LASRERA). Property developers, investors, real estate lawyers and practitioners attended the event held at Oriental Hotel, Victoria Island.

 

The Governor disclosed that his administration had started to identify big players in the real estate sector that would partner with the Government to raise housing stock of in the State. He said the State Government was ready to provide enabling environment for the investors to put their finances in creation of viable housing market for residents.

 

He said: “Public Private Partnership is one of the options we are exploring to realise our objectives of providing viable housing scheme for our citizens. We are at the edge of identifying real big players in the real estate sector to see how well we can leapfrog housing stock in our State. The Government is ready to provide enabling environment and remove the bottlenecks that may impede this opportunity.

 

“The housing stock deficit that we have in Lagos is not acceptable, but we all know the Government cannot provide everything. We certainly need to explore opportunities in private investment to ensure we realise our objective. Real estate business has the potential of contributing 25 per cent growth to the State’s economy and we cannot let this opportunity pass by.”

 

Sanwo-Olu said part of the efforts being made by the Government to raise the investment level of real estate business is to improve the turnaround time on land transactions. He said the State Government had started improvement work on its Geographic Information System (GIS) platform to enable real estate investors have real time information on status of property they are investing in.

 

The Governor harped on lack of accurate data on real estate investment in the State, pledging that the State would be working with the practitioners to create workable database that would help investors and Government. He disclosed that there would be introduction of legislations that would help curb bad behaviors among tenants and property owners.

 

He disclosed that his Government would be launching a N5 billion seed capital through the Lagos State Employment Trust Fund (LSETF) tomorrow (Friday) to support businesses that want to provide succour after to citizens in different areas.

 

The State’s Attorney-General, Mr. Moyosore Onigbanjo, SAN, assured the stakeholders that the current administration was ready to regulate business and protect the citizens from abuse and fraudulent transactions.

 

Special Adviser to the Governor on Housing, Mrs. Toke Benson-Awoyinka, said the incumbent administration would not fail in its social responsibility to the people and investors.

 

She said: “The reason for the emphasis on registration with the Real Estate Practitioners and Property Developers is to provide protection to citizens from imposters, fraudsters and reduce sharp practices associated with some unauthorised individuals who are not registered members of any professional association in Lagos and the country at large.

 

“I urge all stakeholders to join hands with the State Government to eliminate dubious individuals in the Real Estate industry and deal with them in accordance with relevant Laws of the State. This way, the integrity of the business will be restored and international investment will increase. LASRERA portal will provide local and foreign investors with the relevant data analytics for market transparency and intelligence that will help the growth and development of the real estate sector.”

 

SIGNED

GBOYEGA AKOSILE

CHIEF PRESS SECRETARY

SEPTEMBER 24, 2020

TRAFFIC MANAGEMENT: SANWO-OLU COMMISSIONS SEVEN ROADS IN ONIRU-VICTORIA ISLAND AXIS 

…Governor: ‘It’s another promise kept’

…Applauds Access Bank for partnering State Govt

 

It is a huge traffic relief for residents and road users around Iru and Victoria Island axes of Lagos State. Governor Babajide Sanwo-Olu, on Thursday, commissioned Victoria Island-Lekki Traffic Circulation Project in which seven gridlock-prone roads were completely re-designed and re-constructed with concrete slabs.

 

The improved roads are within the commercial areas of Iru and Victoria Island. The Victoria Island-Lekki Traffic Circulation Project was delivered through Public Infrastructure Improvement Partnership (PIIP) framework, under which the State Government collaborated with Access Bank Plc and Planet Projects Limited to bring the project to reality.

 

Last December, Sanwo-Olu flagged off the construction of the roads, which were notorious for heavy traffic congestion that affected growth of businesses and reduced productivity.

 

Cutting the ribbon to officially declared the roads open for public use on Thursday, the Governor said it was another promise fulfilled by his administration in its traffic improvement programmes. He said the improvement and re-construction work done on the roads had enhanced road connectivity and traffic flow on the axis.

 

Sanwo-Olu added that the project had also reduced travel time for commuters, eliminated perennial flooding hitherto experienced in the area, and boosted intermodal transportation.

 

He said: “One of the critical challenges experienced by residents and road users along this axis was the heavy traffic congestion occasioned by the geometric increase in traffic volume, which led to a significant reduction in productivity and growth business activities in this highly commercial location. As Government, we resolved to work in partnership with public-spirited corporate organisations to embark on the road improvement project. This project was executed through the Public Infrastructure Improvement Partnership (PIIP) arrangement.

 

“Today, I have the pleasure to hand over these improved roads to users and residents. This project has led to an improvement in road connectivity and traffic flow. We have also reduced travel time, eliminated perennial flooding issues, enhanced intermodal transportation. Most importantly, we have improved the health and socio-economic well being of the people through the Victoria Island–Lekki Circulation Project in Oniru Axis.”

 

Sanwo-Olu explained that the implementation of Transportation and Traffic Management pillar of his administration’s T.H.E.M.E.S. Agenda deliberately focussed on provision of infrastructure using technology and innovation to achieve pre-conceived objectives of reducing travel time, and providing better riding surface for vehicles.

 

He said the key outcome from the execution of the Circulation Project was the traffic diffusion, which, he said, had made considerable positive impact on businesses and residents living in the area.

 

The Governor said the pressure being exerted on the public finances by various sectors made it difficult for the State Government alone to fund infrastructure, pointing out that the only available option was to create extra budgetary capital for roads maintenance and improvement.

 

He said: “It is on this note that I appreciate Access Bank Plc for its collaborative efforts in the area of public infrastructure improvement. With this partnership, the State Government and Access Bank have reinforced the importance of the Public-Private Partnership (PPP) at delivering public infrastructure

 

“While we hope to continue to harness the benefits this collaboration, I am inviting the Organised Private Sector to partner with Government for maintenance and rehabilitation of existing infrastructure so that the Government can concentrate more on the provision of new road Infrastructure. We will reciprocate this kind gesture in commensurate measure.”

 

Sanwo-Olu urged residents and road users to take ownership of the rehabilitated roads, advising them to guard the infrastructure jealously.

 

“Government and Access Bank have done their bit. The project remains a public property owned by all residents. Therefore, protecting the roads will further encourage the sponsors, other corporate organisations and Government to do more,” the Governor said.

 

Special Adviser to the Governor on Works and Infrastructure, Engineer Aramide Adeyoye, described the project as “iconic”, pointing out that it  was one of the first road rehabilitation exercises to be flagged-off by the Sanwo-Olu administration under PIIP framework.

 

She said the PIIP arrangement would form the bedrock of the current administration’s strategy to increase the participation of the private sector development programmes.

 

Group Managing Director of Access Bank Plc, Mr. Herbert Wigwe, applauded the State Government for supporting the initiative conceived by the bank. He said the financial institution would be willing partner more with the Government to deliver more projects.

 

The Oniru of Iru Kingdom, Oba Omogbolahan Lawal, praised both the State Government and the bank for bringing the Circulation Traffic Project to reality. He called on other corporations that have offices in Victoria Island to embark on similar development projects for improved commercial activities on the axis.

 

The improved roads span a total length of 1.8 kilometres, which started from Muri Okunola Extension, to Ligali Ayorinde, Akin Olugbade, Elegba Festival Road and Yesufu Abiodun Oniru Road up to Four Points by Sheraton.

 

There are also improvement work carried out on seven major junctions along Iru –Victoria Island axis to aid free flow of traffic.

 

SIGNED

GBOYEGA AKOSILE

CHIEF PRESS SECRETARY

SEPTEMBER 24, 2020

 

 

 

Niger Delta youths back Akpabio, NDDC Interim Management Committee, warn detractors

Youths in the Niger Delta region on Tuesday extolled the sterling qualities of the Minister of the Niger Delta Affairs, Chief Godswill Akpabio, describing him as a man of honour.

Besides, the youths, under the aegis of Niger Delta Youth Movement (NDYM) praised the National Assembly for working with the Ministry of Niger Delta Affairs towards the realization of its objectives.

At a gathering in Calabar, the youths expressed delight and satisfaction with the high degree of determination so far exhibited by Senator Akpabio to move the Niger Delta region forward.

‘Senator Godswill Akpabio is a shining example, a model to all of us, of what service is all about. He has so far demonstrated an admirable commitment to doing everything possible to develop the Niger Delta region’’ the youths said.

Addressing newsmen after their one day conference in Cross River State, Secretary General of NDYM, Dr. Raymond Umanah said the youths praised Akpabio for embracing the challenge of developing the region with a missionary zeal, restructuring the Niger Delta Development Commission (NDDC) and reintroducing public accountability for the use of public resources.

‘’Senator Godswill Akpabio, a man of great organizational ability, has continued to carry himself with grace and dignity without compromising his integrity’’

The youths commended the growing unity and understanding among stakeholders in the region.

They emphasized national development, patriotism, transparency and accountability.

The youths also praised the Minister of the Niger Delta Affairs for tackling impediments in the way of improving development in the region, pulling the Niger Delta Development Commission (NDDC) back from the state of retrogression and giving the region the desired sense of purpose and direction.

 

Press Statement

Bro Felix Obuah Congratulates Wike On Edo Obaseki’s Victory

…Describes Wike As Freedom Fighter For South-South Region  

As congratulatory messages continue to pour in to celebrate the victory of the Peoples Democratic Party’s (PDP) candidate, Godwin Obaseki in last Saturday’s Edo State Governorship election, the immediate past PDP Chairman in Rivers State, Bro Felix Obuah has applauded the Rivers State Governor, and Chairman, PDP National Campaign Council, Chief Nyesom Wike for putting up a spirited fight to ensure undisputed victory for the party.

Bro Felix Obuah said for using Governor Wike to champion the PDP victory in Edo amid stiff opposition and threats, God has once again demonstrated that Wike’s victory in 2019 Rivers State Governorship Election is for the liberation of not only Rivers State but also for the entire South South Region from the shackles of slavery and captivity.

The former Rivers State PDP Chairman, and Sole Administrator, Rivers State Waste Management Agency (RIWAMA), said the experience and lessons from the much tougher 2019 Governorship Election in Rivers State boosted by the absolute trust in God were the panacea for the victory for the PDP in the Edo election.

He declared that the election of Godwin Obaseki under the PDP will change the political and socio-economic narratives of Edo State, having joined the league of civilized and visionary leaders in the country led by Governor  Nyesom Wike to provide quality leadership for their people.

“This election has told all the story that Nigerians are tired of deceit and can no longer be fooled. The Edo people have therefore spoken and given their mandate to a more focused PDP government for the well-being of their people and development of their state. It’s therefore my prayer and wish that all sons, daughters and friends of Edo State rally round Governor Obaseki and the PDP-led government to actualize the desires and yearnings of Edo people. By this victory we say bye-bye to god-fatherism in Edo State and Nigeria in general,” Bro Obuah prayed.

Signed:

 

 

Jerry Needam

Special Adviser on Media and Publicity to

Bro. Felix Obuah, Sole Administrator,

Rivers State Waste Management Agency (RIWAMA).

 

Tuesday, September 22, 2020.

 

PRESS RELEASE

 

SANWO-OLU: WE’RE COMMITTED TO FULFILLING PROMISES TO LAGOSIANS

…Says COVID-19 Won’t Be An Excuse

…Governor Flags Off Two-Day LASG Ministerial Performance Review Retreat

 

Lagos State Governor, Mr. Babajide Sanwo-Olu on Monday assured Lagosians that his administration is committed to fulfilling all his promises despite disruption occasioned by the COVID-19 pandemic and other challenges that were not envisaged.

 

The Governor said fulfilling the promises in line with the T.H.E.M.E.S development agenda for ‘Greater Lagos’ would be delivered by the incumbent administration, despite reduction in the budget as a result of the COVID-19 pandemic, knowing fully that no excuse will be tenable to the residents of the State.

 

Speaking during the opening ceremony of the first Lagos State two-day Ministerial Performance Review retreat being held at the Adeyemi Bero Auditorium, Alausa on Monday, Governor Sanwo-Olu said the State Government is determined to step up the tempo of governance through innovative and inclusive policies.

 

He said: “I want to assure you that despite disruption occasioned by COVID-19 and other challenges that we did not envisage, we are still committed as a government to fulfilling the promises we made to people knowing fully that no excuse will be tenable to our citizens.

 

“We must be determined to step forward, heighten the tempo of governance and continue to create opportunities through innovative policies that are not only inclusive but provide sustainable solutions for this present administration and lay foundation for future administrations coming behind us.”

 

Governor Sanwo-Olu also implored members of the state executive council and other public office holders to be committed to the incumbent administration’s effort to meet the yearnings and aspirations of Lagosians, especially the electorates who elected him to govern the affairs of the state.

 

He said: “Let me emphasise that our yardstick for performance assessment will not be based majorly on the amount of money expended or Budget but the outcome of our various interventions that we have had; what measures the impact that touched the lives of citizens that we swore to serve.

 

“One of the promises we made at the inception of our administration and in line with the principle of continuity was to ensure the completion of projects that were inherited from the last administration. A significant part of our efforts and resources was devoted towards fulfilling this promise and taking government to another level.”

 

The Deputy Governor, Dr. Obafemi Hamzat in his address enumerated all the government achievements in the last one year and four months in line with the T.H.E.M.E.S. agenda the Babajide Sanwo-Olu administration promised the people of Lagos State.

 

The THEMES development agenda are; Traffic Management and Transportation, Health and Environment, Education and Technology, Making Lagos a 21st Century Economic, Entertainment and Tourism, and Security and Governance.

 

Hamzat said: “We should understand that our focus should be Lagosians, Lagosians and Lagosians because ultimately, they will define what we do and they will grade us. So, we are like in an examination now and examiners don’t have deep knowledge into the operations of how we actually do things but they only measure it by perception and of course by what they see.

 

“And as such, our job is to make sure that we set that perception right and then we give quality things in dimension; that at the end of the day our integrity will be intact and then they can say the party has done very well and this government has done very well,” he advised the participants at the retreat.

 

Also speaking, the Secretary to the Lagos State Government, Mrs. Folashade Jaji, said the COVID -19 pandemic has adversely affected governments and institutions globally bringing in its wake, a new normal, adding that Lagos State, which is not left out, was the epicentre of cases in Nigeria for a long.

 

She therefore commended the State Incident Commander, Governor Sanwo-Olu and his deputy, the Commissioner for Health, Prof. Akin Abayomi, as well as the entire health sector family in Lagos State for the outstanding management of the pandemic, which was acknowledged statewide, nationally and internationally.

 

“The COVID-19 pandemic has affected not only the health sector, but also the economic sector and how we work. Therefore, our trajectory for implementation of the THEMES agenda to achieve ‘A Greater Lagos’ is going to change as we operate within the new-normal to deliver the dividends of democracy to the good people of Lagos State.

 

“I believe in the capability of the Executive Council members, to prolifically deliver as political heads in our various MDAs and of course with the support of all others present for this retreat. I also believe that when objective feedback is given and taken in good faith, it can only lead to improved performance,” she advised.

 

In his address, the Head of Service, Mr. Hakeem Muri-Okunola stressed the importance of a harmonious and effective working relationship between Permanent Secretaries who are Accounting Officers of Ministries and the Political Heads who are members of the State Executive Council.

 

He said: “While the Permanent Secretary has overall responsibility for the day to day administration of the Ministry as Accounting Officer and in addition to advising the Commissioner on public service processes and procedures, it is critically important that the responsibility of the political Head for the implementation of Government policies is duly recognised and the right balance and conducive atmosphere for a cordial and productive working relationship is established.”

 

The Head of Service also disclosed that “the core objective of this two-day retreat is to conduct a forensic review of the present administration’s scorecard along the five Pillars of our strategic development plans in the last one year. We are here to provide a honest and unemotional review of how have we fared sector by sector. Have we achieved our set targets in different sectors? If yes, what are the enabling factors that have been instrumental in the successes recorded? If we have failed to achieve set targets, what have been the factors that militated against attainment of set targets?”

 

He said the main thrust of the present administration is to make the Lagos economy a 21st-century economy, adding that “In this regard, the State Government has invested heavily in infrastructure renewal and roads rehabilitation across the five divisions of Lagos, not forgetting invitation for expression of interest in the 4th Mainland Bridge.”

 

 

SIGNED

GBOYEGA AKOSILE

CHIEF PRESS SECRETARY

SEPTEMBER 21, 2020

Leave a Reply

Your email address will not be published. Required fields are marked *