news
FG Partners Pinnacle Step Construction, M.I. Okoro, To Build 2,000 housing units in Delta
Nigerians are set to enjoy succor in the housing sector as the federal government have partnered with Pinnacle Step Construction and Properties Limited and real estate giant, MI Okoro and Associates .
In a recent press statement issued by ace real estate surveyor and valuer, Meckson Okoro, the partnership will see to the building of over 2,000 housing units in Ugbolu in Asaba Delta State and comes on a Public/Private Partnership basis, as brokered by the Minister of Works and Housing, Babatunde Fashola.
“It is expected that Ugbolu in Asaba Delta State will witness the development of close to 2,000 housing units of various categories whose contract was consummated about six years ago between the Federal Ministry of Works and Housing selected well profiled developers and Pinnacle Step Construction and Properties Ltd is just one out of ten developers. The Ministry honoured her own part of the contract under the PPP arrangement by acquiring about 100 hectares of land; done the roads and tarred same, provided electricity poles with all the electric wires connected and other infrastructural developments, then shared the land to the 10 developers for the construction of the houses but, unfortunately, none of the developers have been able to meet up with his own part of the deal because of lack of development finance,” Okoro said.
However, the Managing Director, CEO of Pinnacle Step Construction and Properties Limited, Engineer Chizoba Udegbe, appears to set his company on the path of history when he consulted a real estate surveyor, valuer and consulting guru, Dr Meckson Innocent Okoro, who perfected a real estate development funding deal with Amaechi Ndili who is the Chairman and CEO of Property Development subsidiary, Ndili Education Science and Technology Limited (NEST) and who doubles as the Founder and Chairman of Golden Tulip West Africa, the largest hospitality industry in West Africa.
Okoro continues: “In other words, history was made yesterday, December 6, 2020 in Lagos when Dr. M.I. Okoro brokered the signing of Memorandum of Understanding (MoU) between property subsidiary, Ndili Education Science and Technology Limited, ably represented by Dr. Amaechi Ndili as sole financier and Development Partner of Nigerview Estate in Ugbolu Asaba, Delta State. Pinnacle Step Construction and Properties Limited, the original allottee of the development site by the Federal Government of Nigeria also represented by the MD/CEO, Engr. Chizoba Udegbe while Principal Partner/CEO of M.I. Okoro and Associates signed as sole marketing agent of all houses to be developed within the Nigerview Estate, though M.I. Okoro and Associates is already partnering with Ventolite Marketing International Company Ltd and NEST Ltd to ensure faster sales of the expected houses.
“The main thrust of the executed MoU is that physical construction at the Ugbolu site where the Nigerview Estate is located will commence on January 21, 2021. The beauty of the funding arrangement is that our funding partner does not require bank loan of any type for the construction of these houses and therefore between January and May 2021, Deltans and other investing public will have a lot of homes to buy from our consortium in Ugbolu, Asaba. Our happiness is that our financier and Development Partner, Dr. Amaechi Ndili is not just a hospitality investment guru, he is also a major player in the oil industry and offshore operational activities including fleet of ships in the high sea that aid oil operations and lifting. Therefore, we are confident that his company will bring their enormous goodwill and financial resources to bear in the arrangement and towards ensuring that finance is never a problem again in the development of these houses. Furthermore, our financier and development partner is from Ugbolu Community in Asaba and therefore has emotional attachment for the development of Nigerview Estate which he believed would help the State Government in generating internal revenue, by way of taxation in real estate as well as provide homes for many Deltans of both home and abroad, plus a lot of employment opportunities for the Deltan youths who may like to pick up some jobs. No doubt, Asaba as a state capital will benefit a lot from the development of Nigerview Estate especially when the 2nd Niger bridge that is under construction is completed, the usual traffic jams along Onitsha-Asaba road will drastically reduce by 85%, therefore Asaba town will create home for many Deltans and other Nigerians.
“The major highlight of the MoU include but not limited to the following:
Property development subsidiary, Ndili Education Science and Technology Ltd powered by Dr. Amaechi Ndili will ensure that construction activities will commence at the site on January 21, 2021; be responsible for financing and procuring all building materials and labour required for the construction activities and in conjunction with Pinnacle that the project moves in accordance with quality, time and agreed cost lines.
“Pinnacle Duties: Participate fully with his engineering and construction team in conjunction with Property Development Subsidiary, Ndili Education Science and Technology Ltd (NEST) team in the development of the Nigerview Estate; ensure that the allocated land upon which the project is to be built is available and accessible at all times; ensure that the relationship with the Federal Ministry of Works and Housing and is cordial, warm and supportive at all times and at no time will the allocation be withdrawn or threatened; solely responsible for the bringing of other developers who have been allotted development land under the PPP arrangement, who may like to come under our consortium umbrella; specifically negotiate terms under which the consortium shall be responsible for taking over the development of such undeveloped parcels.
“M.I Okoro & Associates (Estate Surveyors and Valuers): Lead the sales and marketing efforts including devising sales strategies to attract buyers who will put down initial deposit as sign of seriousness to purchase the housing; preparing all the paperwork for selling and transfer of ownership of the sold/pre-sold units; setting up a sales office on the site and in Asaba with sales materials and brochures; designing and executing sales adverts; maintaining a database of potential buyers and ensuring a system of staying in constant touch with potential buyers on the database.
Some of the housing types to be developed within the Nigerview Estate are 2 bedroom Flats in block of 12 flats each; 3 bedroom flats in block of 6 flats each; 3 bedroom fully detached house plus BQ, 3 Bedroom Terrace Duplex with BQ in 4 per block units, 4 Bedroom fully detached House with BQ, 5 Bedroom fully detached house with BQ.
“From the above housing types, it is obvious that everyone who is really interested in purchasing a house has one to buy.
Although this year has been quite turbulent particularly with coronavirus pandemic, civil unrest and economic dislocations (downturn) etc, with the intervention of Dr. Amaechi Ndili in the area of funding the development of Nigerview Estate and signing of MoU between property development subsidiary, Ndili Education Science and Technology Ltd (NEST), Pinnacle Step Construction Properties Ltd and M.I. Okoro & Associates (Estate Surveyors and Valuers), we can conclude that this year is ending very well for us and with the commencement of construction at the site from January 21, 2021, we can rightly say that the year will start on a very good note for us and we can confirm that nothing is too big for God to solve. To God be the glory.”
At least 23 people were killed in a series of suspected suicide bombings, police in Nigeria’s northeastern city of Maiduguri said on Tuesday.
https://www.stanbicibtcbank.com/nigeriabank/personal/products-and-services/all-loans/stanbic-ibtc-mreif-home-loans
More than 100 other people were injured in the blasts that took place on Monday evening in the capital of Nigeria’s restive Borno state.
No group has claimed responsibility for the suspected attacks.
The deadly blasts come after a military post was attacked overnight Sunday to Monday, which authorities blamed on suspected Islamist militants.
This sad incident is coming barely two weeks after Primate Elijah Ayodele, the Leader of INRI Evangelical Spiritual Church specifically warned against attacks in some states. He mentioned these states while calling on security operatives to pay close attention to them.
These were his words:
“Another attack is coming up in these following states where the military must watch carefully and intelligently; Kano, Kaduna, Zamfara, Kebbi, Niger, Borno, Kwara and Kogi state. They want to do a deadly attack, it’s preventable but it depends on how they will handle it. I have told you about the danger coming up.”
@primateayodele
Unfortunately, some of our military agencies don’t believe spiritual intelligence can save the country from so much danger hence, their neglect of this prophetic warning but now, it has been fulfilled with the miliary losing credibility by the day while Primate Ayodele continues to gain momentum.
Likewise, At least 26 passengers and crew sustained varying degrees of injuries on Monday following an accident involving the Kaduna–Abuja train, according to the Nigerian Railway Corporation (NRC).
Opeifa explained that the train departed Rigasa in Kaduna at 7:15 a.m. and was approaching Asham station around 9:16 a.m. when a loud bang was heard after the power car and trailing locomotive collided with one of the passenger coaches.
In July 2025, Primate Ayodele asked nigerians to pray not to see train mishap on the Kaduna-Abuja route.
@primateayodele #nigeriantiktok🇳🇬 #fulfillment #train #abuja #primateayodele
“Let’s pray not to see train mishap in Abuja-Kaduna, Kaduna-Abuja route.”
This has also been fulfilled.
The project ends decades search for investors, boosts Nigeria’s blue economy
By Prince Adeyemi Shonibare
Nigeria’s maritime sector is set for a major transformation following a landmark agreement involving the world’s largest container shipping company, Mediterranean Shipping Company (MSC), which has secured a 45-year concession to build, manage and operate a modern container terminal at Snake Island Port in Lagos.
The project, to be developed in partnership with Nigerdock, marks one of the most significant private sector investments in Nigeria’s port infrastructure in recent decades and is expected to strengthen the country’s role as a major maritime gateway in West and Central Africa.
For Nigeria, the agreement brings to close decades of efforts to attract large-scale investors to develop Snake Island Port, a strategically located maritime asset in Lagos.
Long-standing concession history
Snake Island’s maritime facilities date back several decades. In 1992, the Federal Government granted a 99-year concession for the island’s port and industrial facilities to Nigerdock, a major maritime engineering and logistics company.
Nigerdock was later privatised and is currently operated by the Jagal Group owned by Nigerian industrialist Maher Jarmakani.
Over the years, the Island Container Terminal fell into disrepair, requiring major rehabilitation and modernization to meet modern global shipping standards.
The new partnership with MSC is expected to transform the port into a state-of-the-art container handling facility capable of attracting larger vessels and increasing Nigeria’s cargo throughput capacity.
Buhari administration approved the project.
The investment framework for the Snake Island development was approved in May 2023 by the Federal Executive Council under then President Muhammadu Buhari.
The approval authorised total private investment of approximately $974.1 million for the project under a Public-Private Partnership structure, including the 45-year concession period.
At the same time, the Federal Government also approved two other major maritime infrastructure projects:
• Development of the Ondo Multipurpose Port in Ilaje, Ondo State, with $1.48 billion in private investment and a 50-year concession.
• Expansion and development of the Burutu Sea Port in Delta State, involving $1.2 billion in private investment and a 40-year concession.
These projects form part of Nigeria’s broader effort to develop its blue economy and expand maritime trade capacity.
Construction partners
Engineering and construction of the Snake Island container terminal will be handled by:
• ITB Nigeria Limited
• DEME Group
ITB Nigeria Limited is part of the Chagoury Group and owned by the Chagoury family, while DEME Group is a globally recognised Belgian marine engineering and dredging company with extensive experience in port construction.
MSC profile
Founded in 1970 by Italian shipping entrepreneur Gianluigi Aponte and his wife Rafaela Aponte-Diamant, MSC has grown from a single cargo vessel into the largest container shipping company in the world.
Headquartered in Geneva, Switzerland, the company operates in more than 155 countries and serves over 500 ports worldwide, with a fleet of roughly 900 container ships and over 200,000 employees globally.
The MSC Group also operates major logistics and maritime businesses including inland logistics through Medlog, cruise tourism through MSC Cruises, and port terminal operations across several continents.
According to Forbes, the estimated net worth of MSC founder Gianluigi Aponte is about $43.9 billion as of February 2026, placing him among the world’s richest shipping magnates. The company remains privately owned by the Aponte family, with both founders holding equal ownership stakes.
Management comments
Speaking on the development, MSC Group President Diego Aponte said the company is committed to strengthening its operations in Nigeria and across Africa.
“We are proud to expand our presence in Nigeria through this important infrastructure project. The Snake Island terminal will enhance service delivery and improve port efficiency for our customers and partners in the region,”
Chief Executive Officer of Nigerdock, Maher Jarmakani, described the agreement as a major milestone for the Nigerian maritime sector.
“We are delighted to partner with MSC in developing a world-class container terminal that will enhance Nigeria’s logistics capabilities and support economic growth,” he said.
Economic impact
Industry analysts say the project could significantly strengthen Nigeria’s maritime economy by expanding cargo handling capacity, reducing congestion at Lagos ports and attracting additional international shipping traffic.
The development is also expected to create thousands of direct and indirect jobs across maritime operations, logistics, transport services and port-related commercial activities.
Infrastructure expansion
Beyond the port development, plans are also underway for Nigeria’s first underwater tunnel, linking Ahmadu Bello Way in Victoria Island through Snake Island and connecting the Lagos-Calabar Coastal Highway with the Sokoto-Badagry Superhighway corridor through Badagry.
The tunnel project is expected to significantly improve freight movement and road connectivity between Lagos ports and national transport networks.
Strategic milestone
With the entry of MSC into the Snake Island development, industry observers say Nigeria is taking a significant step toward modernizing its maritime infrastructure and positioning itself as a regional hub for global shipping and trade.
For a project that has waited for decades for major international investors, the Snake Island concession represents a turning point in Nigeria’s port development strategy and a strong signal of global confidence in the country’s maritime future.
By Prince Adeyemi Shonibare
news
From Construction Sites to Community Service: Temitope Akinyemi Emerges as a Model of Leadership and Impact
-
society6 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news3 months agoWHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests
-
society6 months ago“You Are Never Without Help” – Pastor Gebhardt Berndt Inspires Hope Through Empower Church (Video)
-
society7 months agoWho is Chief Kestin Pondi? Niger Delta’s “People’s Chief” Winning Hearts With Hundreds of Millions in Generosity