Metro

Realtor urges Nigerians to embrace untapped Rent-To-Own housing finance opportunities

Published

1 month ago

August 18, 2023

Realtor urges Nigerians to embrace untapped Rent-To-Own housing finance opportunities

(Photo: L-R: Mr Michael Simire, Publisher, EnviroNews Nigeria; Deacon Jide Durojaiye, Managing Director, Legrande Properties Development Company Ltd and Mrs Okwy Iroegbu-Chikezie, Chairperson, Property and Environment Writers Association of Nigeria (PEWAN) during a tour of PEWAN members to the firm’s project sites on Thursday in Lagos.)

A Real Estate expert, Mr Jide Durojaiye, has advised Nigerians to embrace the Rent-To-Own Scheme housing finance model to meet their shelter needs.

He said that the model was largely untapped in Nigeria, and urged governments to provide enabling environment to popularise the option.

Durojaiye, Managing Director, Legrande Properties Development Company Ltd, spoke when journalists undertook a tour of the firm’s projects in Ibeju Lekki on Thursday.

He said that the model was making housing finance and home ownership easier in developed countries. and would help to bridge housing deficit.

The realtor said Nigerians were under-utilising opportunities for mortgage finance offered by the Federal Mortgage Bank (FMBN).

He said the Rent-to-Own offered opportunity for affordable mass housing.

“As I am talking to you, they (FMBN) have money and people are not using them,”he said.

He said Lagos government was partnering Legrade Properties Company Ltd in reconstructing the Jakande Estate, Ajah from two to eight storeys and building 11 estates called Alexandra Courts, Coastal City, Ibeju-Lekki.

He said the Rent-to-Own model was the most convenient way for people to own their homes, with the benefit of loans from mortgage institutions and Pension Funds.

Durojaiye explained that the partnership for the Alexandra Courts, Ibeju-Lekki was for the developer to build a New Lagos model of 22 blocks of 32 units in two phases, to be delivered from March 2024.

He said the Alexandra Courts, Costal City, Ibeju-Lekki project called ‘The New Lagos’ had all infrastructure and facilities that offered comfort and safety.

The News Agency of Nigeria (NAN) reports that ‘The New Lagos’ refers to mini cities around the new proposed airport and seaports, Lekki Free Trade Zone and Refinery.

He said the rent-to-own investments of the state government in the Alexandra Courts would unlock potential, add value, enhance urban renewal efforts and solve various challenges to provide affordable housing for residents.

He called on all levels of government and Nigerians to embrace the rent-to-own scheme to address accommodation problems and housing deficits.

Durojaiye also said Lagos State and the FMBN were in partnership with private investors on the New Lagos City to create jobs, increase Gross Domestic Product and add value to various communities.

He commended the state government for digitalising land acquisition procedures and starting rent-to-own initiative in 2021

Durojaiye said it helped to enhance the Lagos master plan, economy, investments and affordable housing for high and middle class earners.

He said Lagos State currently had over 20 mini cities targeted at bridging shelter gap and ensuring urban renewal.

The realtor listed facilities in the estate to include: Independent Power Project, Schools, Hospital, a helipad among others with moderate service charge.

He appealed to the media to help the public understand enormous opportunities provided by the FMBN for low and medium income earners to have access to affordable mass housing.

NAN reports that the journalists, drawn from the Property and Environment Writers Association of Nigeria (PEWAN), also visited Court Land Villa, Lekki, another estate jointly owned by the firm and Lagos government.

Earlier, Mrs Okwy Iroegbu-Chikezie, Chairperson, PEWAN explained the agenda setting role of the media to management and staff of Legrande Properties Development Company Ltd.

Headline

Stakeholders appeal for justice in Ogoniland

Published

1 day ago

September 24, 2023

Desmond Ukafor

Stakeholders in the environment sector on Sunday in Abuja appealed for justice in Ogoniland to alleviate the plight of the people of the area.

Mr Michael David, the Executive Secretary of Global Initiative for Food Security and Ecosystem Preservation (GIFSEP), an NGO said this at a workshop on Strengthening Capacity for Afrika Vuka Volunteers in Nigeria.

This is a build up to power up global day of action #PowerUpOgoni.

The Power up for Climate Solutions action would take place by Nov. 2 to Nov. 4.

“We are to promote the injustices happening in Ogoniland. I have been there, I can feel what the people of Ogoniland are passing through.

“Their water and farmlands are covered with oil, it is very sad. This should not be happening.

“I’m not sure we can proclaim the land in Ogoni, the level of pollution is indescribable,” David said.

He assured that the actions revealing the injustices in Ogoniland would be carried out in Ogoni and Abuja.

“We want to call the world’s attention to what is happening in Ogoniland.
They can’t farm, fish or drink clean and safe water,” David said.

He said that Karen community in Ogoniland never knew what electricity is like since existence.

“We shall carry out the action in Karen community in Ogoniland where we shall provide street lights for the market women only.

“We want to do a massive photo exhibition in Abuja of all the injustices in Ogoniland from 2018 till Hydrocarbon Pollution Remediation Project (HYPREP) came into inception.

“Vuka is a Zulu word from South Africa and it means rise up or in Swahili it means awaken so the 350Africa.org came up with this campaign to say Africa wake up. We also intend to have a group tagged Nigeria wake up,” David said.

He appealed to stakeholders that are into climate advocacy to partner to fight against climate injustices in the country and also appealed for increased budgetary provisions for key agencies in the fight against climate injustices.

NAN reports that 350Africa.org is a group campaigning against fossil fuels, and the promotion of renewable energy and has also been in partnership with GIFSEP to build up global day of action #PowerUpOgoni.

Rukiya Khamis, a representative from 350Africa.org said that the group is a platform for climate advocacy and justice and urged stakeholders to take the message #PowerUpOgoni across the world.

Khamis said that the group uses grassroots organising to run locally-driven campaigns in every corner of the globe.

“The climate crisis is about power — but not just the kind of power that keeps the lights on.

“We believe that the only way we’ll see meaningful action on climate change is if we can counter the power of the fossil fuel industry with the power of people taking collective action.

“We use online tools to connect that power, help those people see themselves as one movement, and to facilitate public actions,” she said.
(NAN) (www.nannews.ng)

AIJ/ORO
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Edited by Razak Owolabi

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Headline

LASTMA, others combat Ilupeju industrial fire outbreak

Published

2 days ago

September 23, 2023

Ifunaya Emeka

The operatives of the Lagos State Traffic Management Authority (LASTMA) and other emergency responders at early hour on Saturday combated an industrial fire outbreak at Mega Plastics Company at No.4, Ilupeju Bypass.

Mr Taofiq Adebayo, the Director, Public Affairs and Enlightenment Department of LASTMA, made the disclosure in a statement in Lagos on Saturday.

Adebayo stated that the industrial fire outbreak took place at Mega Plastics Company at No.4, Ilupeju Bypass beside Federal Inland Revenue Service (FIRS), Ilupeju area of Lagos.

“The Traffic Officer of LASTMA, Mr Ayo Olaosebikan (Falcon) of Zone 21, confirmed that LASTMA rescue team arrived at the scene of the industrial fire outbreak around at 6:30a.m. before other emergency responders were contacted by LASTMA.

“Immediately we arrived at the scene of the industrial fire, we quickly informed other emergency responders particularly the Lagos State Fire, Rescue Services and the Nigerian Police.

“The causes of industrial fire could not be immediately ascertained, he said.
Olaosebikan noted that preliminary investigation revealed that the storage and factory section of the petrochemical company were seriously affected by the fire outbreak.

According to him, emergency responders on ground include Federal and State Fire Services, policemen and LASTMA Response Unit.

Olaosebikan said that neither injury nor death had been recorded.