Property News, Tips And Advice - Nigeria Property Centre - Page 19

Property News, Tips and Advice

Citing federal government’s effort to improve energy supply in Nigeria and the need to scale up energy efficiency that will go a long way to reduce demand, electricity bills, Green House Gas emissions which would allow more citizens with access to electricity saved, the United Nation Development Programme (UNDP), Global Environment Facility (GEF) and the Federal Government of Nigeria is set to promote energy efficiency in residential and public sector in the country.

The four years project, will be implemented by UNDP while the Federal Ministry of Environment and Energy Commission of Nigeria would be part of the executing partner. GEF would fund the project that will last between February 2011 and March 2015.


The five-day annual Lagos Housing Fair ended at the weekend with a call by participants for the Land Use Act, which has been given various uncomplimentary descriptions by stakeholders, to be expunged from the constitution and reviewed. The fair which was the 11th in the series witnessed an array of exhibitors from both the private and public sectors, and also the cream of professionals in the built environment. With the theme, 'Access to Land and Housing Delivery' the fair, through paper presentations by experts in housing delivery and land management, examined factors inhibiting access to land and also highlighted strategies for promoting land administration, title documentation and land use planning.

Tinu Aina-Gbadebo, chairman of the Lagos Housing Fair Board, pointed out that inhibitions to access to land have been through such factors as uncoordinated policies at the various tiers of government as well as deficient land management system. According to her, concern had been on how to continue to cope with the inadequacies of the Land Use Act, stressing that after 33 years of its enactment, and in view of present realities, the law is due for review. "We must, as Nigerians, jointly prevail on the National Assembly to deliberately focus attention on amending the 1999 constitution by removing the Land Use Act from it", she said.


The Federal Housing Authority (FHA) has said that as part of strategies for realizing its mandate, it has come up with a four-year action plan aimed at delivering 106,000 housing units. The authority since inception 37 years ago has been able to deliver only 37,000 housing units in 76 states across the country by direct efforts. Bello Issa, FHA's executive director, estate services, who disclosed this in a paper he presented at the just concluded Lagos Housing Fair, also hinted that in 2001, the authority embraced public private partnership (PPP) as a complementary channel for housing delivery, adding that through this channel, about 2000 housing units have been delivered.

He disclosed further that to achieve the action plan target, FHA has positioned itself in the forefront of providing a national working definition of what basic housing is; minimum plot size; alternative construction materials and technology and strengthening her operations to enhance affordability and accessibility. Issa whose paper was titled 'Access to Land ans ousing Delivery: FHA's Thinking' listed the authority's strategies for sustainable mass housing delivery which included direct development, public private partnership, public-public partnership, co-operative housing, site and services, new town development, rental housing and regeneration.


The Lagos State Government has commenced plans to build the Lekki International Airport expected to cost ₦102 billion.

The state Commissioner for Commerce and Industry, Adeniyi Oyemade, while addressing journalists during a press conference, said the airport upon completion, would cater for over five million passengers annually.


Save us from land grabbers, Aiyeteju community urges Fashola!

The people of Aiyeteju village in Ibeju Lekki  Local Government Development Area of Lagos State, have cried out over incessant invasion of the village by some suspected land grabbers in the past four years.


Seeing the possibility to break the endemic rising housing challenges, which Nigeria and her populace is currently wallowing in, construction industry experts and stakeholders have again called on the government to pursue a multi-dimensional approach towards solving the problem.

Indeed, housing has remained an unfulfilled promise by several administrations as the nation at all levels, suffered absence of political will, dysfunctional institutional arrangements, policy summersault by various regimes and legislative impediments. It is on record that most governments, whether federal or state have repeatedly failed to deliver.


AMID the new political administration envisaged in Lagos and Ogun states, experts are already predicting better days for urban planning, especially within the mega city project areas.

The state has been enmeshed in boundary dispute, which has affected infrastructural development in the border communities and physical planning activities. The town planners in every forum had heaped the blame on the authorities.


The controversy surrounding the sale of the 37-storey NITEL building took a dramatic turn recently with the revelation by the liquidator of the NITEL/MTEL Pension Fund, Olusola Adekanola, that the board of NITEL approved the sale of the head office building – NECOM House. Adekanola, in a statement from his media and communication consultant, Kazie Uko, revealed that the list of NITEL’s non-core assets that were transferred to NITEL/MTEL Staff Pension Fund was prepared by a team of professionals working with NITEL management.

Adekanola noted that perhaps he could have avoided the blackmail being unleashed at him had he agreed to a satanic proposal to sell off the sky-scraping structure for a paltry N100 million against the eventual princely sum of N4 billion realised from the sale, adding that the process leading to the sale of NECOM House was transparently done and the N4 billion offer was the highest received for the property.


The 1004 estate in Victoria Island, Lagos offers home seekers decent accommodation with basic facilities and simple luxury like a swimming pool. 800 two and three bedroom flats (80%) of the 1004 flats in this estate entered into entered the Victoria Island market almost the same time in October 2010 with very high rent tags which market analysts viewed as unrealistic in the circumstance. Apparently responding to the credit crisis in the financial system however, landlords of the various flats at the estate have slashed the rents considerably. A two-bedroom flat which was ₦2.75 million per annum now goes for ₦1.7 million per annum. Three-bedroom flat have come down from ₦3.5 million per annum to ₦2.2 million per annum.

1004 Estate was one of the Federal Government's properties that were brought into the market following government's monetization policy. The estate which housed senior federal civil servants was sold for ₦7 billion by the Federal Government to a consortium led by the UAC Property Development Company (UPDC) Plc. in 2006. It was a highly sought after property because of it prime location in Victoria Island, Lagos.


Significant changes to your home like a new extension or a redesign of a particular area will typically call for a professional hand. Then comes the question "what should I look out for while selecting a professional builder?". This question is even more important when you have little or no experience in the area. An article from The Guardian suggested the tips below.

Choosing a Builder

  1. Have a clear idea about the project you want to undertake.
  2. Start with referral from people you know.
  3. Ask the builder about previous projects. Request to see some of them if possible.
  4. Check if they are a member of any trade organisation such as the Nigerian Institute of Building (NIOB)
  5. Be clear about the bill. Know what is included and what isn't.
  6. Get quotes from at least two builders for comparison.
  7. Find out if the builder is insured in case of damage to your property or other accidents

You can read the full article here.