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.”
Funmi Ayinke To Shut Down Abuja With Annual Thanksgiving On December 10
Popular engineer cum musician, Funmi Ayinke is set to shut down the whole of Abuja with her annual thanksgiving on Sunday, 10th Of December, 2023.
The event which has been tagged ‘Total Takeover’ is basically to appreciate God for 2023 and put the coming year in his hands through worship.
According to Funmi Ayinke, It is not an entertainment programme but a spirit-filled event where people will worship God in truth and in spirit.
‘’It is not an entertainment event but a spirit-filled worship moment where God Almighty will empower us for a total takeover in 2024.’’
‘’When we pray, God sends Angels, but when we worship, God comes down to dwell in our midst.’’
‘’The Bible says where the spirit of the Lord is, there is Liberty. Please do not joke with your Destiny.
You can’t continue to live this life of yours in 2024. ‘’
‘’There must be a change—enough of people mocking you. Find yourself there, and you will never remain the same.’’
To bring down heaven, some powerful guests have been billed to minister and they include Sola Praise, Abraham Akatu, Precious Ariwajesu, Success Moses, Enoch JB, to mention a few.
In previous years, miracles were recorded at the Annual Thanksgiving and many more are expected on December 10, 2023.
Lagos House Demolition: 9 Things to Know Before Buying or Building in Lagos by Dennis Isong
Lagos House Demolition: 9 Things to Know Before Buying or Building in Lagos by Dennis Isong
Sahara Weekly Reports That When embarking on the journey of purchasing land in Lagos, Nigeria, it is crucial to navigate the process with diligence and awareness. Acquiring the necessary certificates is a pivotal step to ensure a secure and lawful transaction. Here are some important certificates you should possess during the land-buying process in Lagos:
1. Certificate of Occupancy (C of O):
The Certificate of Occupancy is a primary document issued by the Lagos State Government that confirms the legal ownership and right to use a particular land. It outlines the terms and conditions under which the land is held and can be obtained through the state’s land registry.
2. Survey Plan:
-A Survey Plan is essential for defining and delineating the boundaries of the land. It provides an accurate representation of the property’s dimensions, shape, and geographical features. A licensed surveyor must prepare this document, and it should be approved by the Office of the Surveyor General.
3. Deed of Assignment:
This legal document serves as evidence of the transfer of ownership rights from the seller to the buyer. The Deed of Assignment should be drafted by a legal professional and registered at the Land Registry to make it legally binding.
4. Governor’s Consent:
If the land has a Certificate of Occupancy, obtaining the Governor’s Consent is necessary for the transfer of ownership. It involves an application to the state governor, and upon approval, the consent is endorsed on the Deed of Assignment.
An Excision signifies the release of a portion of land from government acquisition. It is especially crucial for lands situated in areas that were previously marked as government-owned. A valid Excision grants legitimacy to the land title and should be confirmed with the relevant authorities.
6. Approved Building Plan:
Before any construction activities commence, it is mandatory to have an approved building plan from the appropriate government agency. This ensures that the proposed structure complies with urban planning regulations and standards.
7. Tax Clearance Certificate:
A Tax Clearance Certificate from the seller is necessary to verify that all property taxes have been paid. It is a requirement for the processing of some land-related documents and helps ensure a clean and legal transaction.
8. Environmental Impact Assessment (EIA):
In some cases, an Environmental Impact Assessment may be required, particularly for large-scale developments. This assessment ensures that the proposed project complies with environmental regulations and mitigates potential negative impacts.
9. Receipts of Payment:
Retain all receipts of payments made during the transaction. This includes payments for the land, survey, legal fees, and any other associated costs. These receipts serve as proof of transaction and can be crucial in case of any disputes.
Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041
Dollar Tumbles Against Naira At Parallel Market
Dollar Tumbles Against Naira At Parallel Market
Sahara Weekly Reports That The naira sustained its appreciation against the United States dollar at the parallel market as it appreciated on Friday, from N1,160 to N1,155.
This represents 0.43 percent (N5) gain than N1,160 exchanged on Thursday at the parallel market.
It could be recalled that the naira had steadied in the parallel market on Wednesday and Thursday as it sells for N1,160 respectively.
However, the forex turnover, on Thursday, hit $105.50million according to data from NAFEM, the Nigerian Autonomous Foreign Exchange Market, the market trading segment for Investors, Exporters and End-users.
The turnover represents the amount of dollars traded at a particular trading day.
Although the rate is still unpalatable to the business community and Nigerians at large but a management consultant, Babatunde Adeniji, said the naira crisis is being largely driven by speculation following the country’s liquidity challenge.
“In terms of price, for the short time it is speculation that drives things. If you are a trader and you want to take a bet, with the level of distrust of the government, with no clear visible assurance of where the dollar is coming from to stabilise the naira, which position would you take? You are bound to take the position skewed towards the dollar,” he stated.
He said the country would begin to heave a sigh of relief when the authorities can pay up all the backlog of foreign exchange forwards with sufficient liquidity to meet pending obligations.
“Nigeria as a country does not have enough dollars to meet its promise. If we don’t do things that are substantial and visible, all that grammar would not help.
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- The African Union of Broadcasting's (AUB) Summit on Artificial Intelligence to hold from the 4th to 6th March 2024, in Yaoundé Cameroon December 7, 2023
- New Report by KPMG, First Abu Dhabi Bank (FAB) and International Islamic Trade Finance Corporation (ITFC) Identifies Transformational Role Financial Institutions Play in Accelerating Gulf Cooperation Council’s (GCC) Food Security and Climate Goals Globally December 7, 2023
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