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Fuel Price Hike: How Fuel Price Hike Drives Nigerian Real Estate by Dennis Isong

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Fuel Price Hike: How Fuel Price Hike Drives Nigerian Real Estate by Dennis Isong 

Fuel Price Hike: How Fuel Price Hike Drives Nigerian Real Estate by Dennis Isong

 

 

 

 

 

 

 

 

 

Sahara Weekly Reports That In recent times, Nigeria has witnessed fluctuations in fuel prices, sparking debates and concerns across various sectors of the economy. While the impact of rising fuel costs is generally seen as negative, there is a unique silver lining for the real estate industry. Surprisingly, the fuel price hike can favor real estate investment in Nigeria in several ways. This article explores the connections between fuel price increases and real estate investment opportunities, shedding light on the potential benefits for savvy investors.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel Price Hike: How Fuel Price Hike Drives Nigerian Real Estate by Dennis Isong 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diversification of Investment Portfolio

 

 

 

 

 

 

Real estate has always been considered a stable and relatively low-risk investment option. As fuel prices rise, other forms of investments, such as transportation and manufacturing, might experience slowdowns. This prompts investors to diversify their portfolios and turn their attention to real estate. The perceived stability and potential for long-term gains in the property market become particularly attractive during times of economic uncertainty.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shift in Investment Focus

 

 

 

 

 

 

 

Higher fuel prices often lead to a shift in preferences among consumers and businesses. As transportation costs rise, there is a growing demand for properties located closer to city centers and commercial hubs. This demand shift can drive up property values in such areas, making real estate investment in these prime locations more lucrative.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Urbanization and Rental Demand

 

 

 

 

 

 

 

Urbanization is a growing trend in Nigeria, with more people moving to cities in search of better job opportunities and improved lifestyles. The fuel price hike can accelerate this trend as commuting becomes costlier. Consequently, the demand for rental properties in urban c enters is likely to rise, offering real estate investors a steady stream of rental income.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Infrastructure Development

 

 

 

 

 

 

 

Governments often respond to fuel price increases by redirecting funds towards infrastructure development projects, such as road expansions and public transportation enhancements. These improvements can increase the overall desirability of certain neighborhoods, leading to increased property values. Savvy investors who identify these emerging trends can capitalize on the potential appreciation of property prices in areas targeted for infrastructure upgrades.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investment Potential

 

 

 

 

 

 

 

 

Real estate investment is inherently a long-term endeavor. While fuel prices may experience fluctuations over the short term, the property market tends to appreciate over time. Investors who can weather short-term economic challenges brought about by fuel price hikes are likely to benefit from the long-term value appreciation of their real estate assets.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inflation Hedge

 

 

 

 

 

 

 

Rising fuel prices often coincide with inflationary pressures. Real estate has historically served as a hedge against inflation, as property values and rental incomes tend to rise with the cost of living. This makes real estate an attractive option for investors seeking to preserve and grow their wealth during periods of economic uncertainty.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Demand for Mixed-Use Developments

 

 

 

 

 

 

Rising fuel prices can lead to a growing desire for convenience and efficiency. This paves the way for the emergence of mixed-use developments that combine residential, commercial, and recreational spaces within the same vicinity. With the cost of commuting becoming a concern, people are drawn to live in areas where they can work, shop, and unwind without extensive travel. Real estate developers who recognize this trend can capitalize on the demand for mixed-use properties, creating vibrant and self-contained communities that cater to various needs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign Investment and Economic Diversification

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Higher fuel prices can stimulate foreign investment in Nigeria’s real estate sector. As global investors seek alternative avenues for capital allocation, a well-regulated and promising real estate market can catch their attention. Increased foreign investment not only injects capital into the local economy but also contributes to economic diversification. This, in turn, can create jobs, stimulate economic growth, and lead to positive ripple effects across various industries.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Value-Add Opportunities

 

 

 

 

 

 

 

 

Real estate investors can take advantage of fuel price hikes to identify value-add opportunities within the market. Properties that were previously overlooked due to their location or condition might become more attractive when transportation costs rise. By strategically renovating, repositioning, or repurposing such properties, investors can unlock their true potential and capitalize on the changing market dynamics.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Government Policy and Support

 

 

 

 

 

 

 

 

Governments often respond to fuel price hikes by introducing policies that promote economic stability. In some cases, these policies can include incentives for real estate development and investment. Such incentives could include tax breaks, subsidies, or streamlined permitting processes. Real estate investors who stay informed about government initiatives and take advantage of available support mechanisms can position themselves for success in a changing economic landscape.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alternative Investment Vehicles

 

 

 

 

 

 

 

As fuel prices increase, individuals and institutions may seek alternatives to traditional investments that are directly affected by these fluctuations. Real estate investment trusts (REITs), crowdfunding platforms, and real estate-focused mutual funds provide avenues for investors to participate in the property market without owning physical properties. These alternative investment vehicles can offer diversification and liquidity while tapping into the potential benefits of real estate during periods of fuel price volatility.

 

 

 

 

 

 

 

 

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

 

 

 

 

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Corruption: The Paradox of George Orwell’s Animal Farm in Nigeria

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Confusion as EFCC names ex-Kogi Gov in amended corruption allegations perpetrated before he became Governor

 

All animals are equal, but some animals are more equal than others”

 

 

A proclamation by the pigs that control the government in the novel Animal Farm, by George Orwell has reared its ugly head. The sentence is a comment on the hypocrisy of governments that proclaim the absolute equality of their citizens, but give power and privileges to a small elite. This nauseating development has come to fruition in one of the most discussed issues in our dear nation Nigeria where the Kano State High Court has ruled that the trial of the Chairman of the All Progressive Congress (APC), Abdullahi Ganduje, and others accused of bribery and misappropriation will continue even in their absence.

The Kano State Government, on Thursday, arraigned immediate-past governor Abdullahi Ganduje, his wife, Hafsat, son, Umar and six others for alleged $413,000 and N1.38bn bribery. The defendants, who were absent from court, were arraigned in absentia.

The Governor Abba Yusuf-led government had since April filed the charges against Ganduje and others, but efforts to serve them the charges had proved abortive. At the previous hearing on June 5, the prosecution obtained an order to serve the charges on them by substituted means, through newspaper publication.

The Kano State Government assembled 15 witnesses to testify against the defendants, immediate-past governor, Abdullahi Ganduje, his wife Hafsat Umar; Abubakar Bawuro; Umar Abdullahi Umar; Jibrilla Muhammad, Lamash Properties Limited, Safari Textiles Limited, and Lasage General Enterprises Limited to face eight counts of alleged bribery, diversion, and misappropriation of funds amounting to billions of naira. During the last hearing on April 29, 2024, the court was set to rule on a motion for substituted service, but the defendants had not yet been served.

The charges span a series of alleged corrupt activities. Ganduje was accused of receiving $200,000 from a contractor in exchange for government contracts between January 2016 and February 2017. The second charge claims he collected an additional $213,000 as a kickback from the Kantin Kwari textile market-remodelling project.

Ruling days back, Justice Amina Adamu-Aliyu dismissed the state government’s application for a bench warrant against the defendants.

“The trial of the defendants continues even in their absence,” she stated.

It is imperative to provide jurisprudential insights herein, as the court had previously, on June 5, granted an order to serve Ganduje and the other defendants through substituted service.

The prosecution counsel, Adeola Adedipe (SAN) informed the court that the defendants had been served, and an affidavit of service was filed on June 6.

He noted, “My lord, the 1st, 2nd, 3rd, 4th, 5th, 7th, and 8th respondents are not in court nor represented, only the 6th respondent”.

Adedipe requested the court to enter a plea of not guilty on behalf of the absent defendants, citing section 278(1)(2) of the Kano State Administration of Criminal Justice Law (ACJL) 2019.

“The court should enter a plea of not guilty on behalf of the defendants who refused to answer the complaint in the charge,” Adedipe argued.

He also urged the court to issue a bench warrant of arrest pursuant to Section 388 of the Kano State ACJL, stressing, “The essence of an arrest warrant is for the sanctity and urgency of the court because an order has been made for the defendants to appear before it and they refused”.

However, counsel for the 6th respondent, Nureini Jimoh (SAN) contended that service had not been properly affected on his client.

“We filed a notice of preliminary objection on the competency of the entire charge. The court does not have constitutional power on any of the count charges,” Jimoh stated.

He also mentioned that an application for a stay of execution had been filed before the Court of Appeal, “restraining the prosecution from publishing any charges against the 6th respondent”.

Jimoh urged the court to dismiss the prosecution’s application for a warrant of arrest and to refrain from entering a plea of not guilty on behalf of the 6th respondent.

Justice Adamu-Aliyu has adjourned the case until October 23 and 24 for the hearing of the preliminary objection and the main charge.

This development portends grave danger in the scheme of affairs with questions begging for an answer that is the ruling party helmsman immune to scrutiny and forensic investigations by the anti-corruption body, EFCC? In hindsight, Governor Abba Kabir Yusuf pontificated in public domain that his predecessor, Ganduje has a case to answer as his government will stop at nothing to bring him and his co-travellers to book over his eight-year’s tenure characterized by corruption.

It’s beyond beggar’s belief that such an infringement has been swept under the carpet, as a similar case that involves the immediate-past Kogi State governor; Yahaya Bello is hugging the headlines indefinitely. The confluence sub national entity stated earlier in public domain that GYB has no case to answer, but the EFCC states that reverse is the case.

The Governor in his reaction regretted that Ganduje who was supposed to cover his face in shame over cases of corruption and political violence hanging around his neck shamelessly spoke about non-existent failure in the New Nigeria Peoples Party (NNPP) led government in the state.

According to the statement, “Governor Yusuf insisted that Ganduje presided over two unproductive tenures characterised with, inability to cater for the needs of Kano’s population and nepotism.

“Our eight months in office has remarkably outweighed Ganduje’s eight wasted years of political caricature and maladministration by all standards,” Governor Yusuf stated.

He advised the acting National Chairman of All Progressives Congress (APC) and the immediate-past Governor of the state, Abdullah Umar Ganduje to rather buckle up in defence of his battered image at the court, instead of further exposing his impunity on the media space.

Furthermore, to gain helicopter oversight on this thorny issue that’s a sore thumb that constitutes leprous fingers was highlighted by Muhuyi Magaji, chairman of the Kano state Public Complaints and Anti-Corruption Commission (PCCAC), where he stated inter alia that the agency has traced N51.3 billion allegedly diverted by Abdullahi Ganduje, former governor of the state.

Magaji spoke during an interview on Arise TV. He said the funds traced by the anti-corruption commission were half of the over N100 billion meant for LGs in the state.

“The monies were channeled to different local government accounts. They then met with local government staff to create false expenditure with a payment voucher and then diverted the money through a third party,” he said.

“We traced a lot of the diverted funds to various individual accounts at the single market and subsequently took the money in cash to the state government house with someone stationed with a counting machine.”

The trajectory where ignominious allegations that involve perceived associates of the ruling party and levers of power are overlooked, while entities in the bad books of the system are subjected to vice like grip treatment leaves a sour taste in the mouth that could be equated to dystopian locomotion in a democracy.

Ayoola Ajanaku is a Communications and Advocacy Specialist based in Lagos, Nigeria….

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OGUN ORDERS ILLEGAL OCCUPANTS OUT OF FOREST RESERVES

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OGUN ORDERS ILLEGAL OCCUPANTS OUT OF FOREST RESERVES

OGUN ORDERS ILLEGAL OCCUPANTS OUT OF FOREST RESERVES

 

 

 

 

 

 

 

Sahara Weekly Reports That Ogun state government has asked illegal occupants in its Forest Reserves at Area J3 in Ijebu-East Local Government Area, to vacate and desist from habit of selling government lands.

 

 

 

 

OGUN ORDERS ILLEGAL OCCUPANTS OUT OF FOREST RESERVES

 

 

 

 

Commissioner for Forestry, Engr. Taiwo Oludotun made this known during a fact-finding visit to the reserved, saying individual or group that has no legitimate business in the forest would not be allowed to stay.

 

 

 

 

 

 

 

 

 

 

 

Engr. Oludotun, who emphasised the need to protect all government forest reserves against criminality perpetrated by unscrupulous elements, noted that the present administration would continue to ensure safety and proper management of the reserves.

 

 

 

 

 

OGUN ORDERS ILLEGAL OCCUPANTS OUT OF FOREST RESERVES

 

 

 

 

 

 

‘’Ogun State government will not fold its arms and allow people who do not have business in this reserve to stay. Those harbouring criminals should desist as government is ready to take drastic action against any culprit’’, he warned.

 

 

 

 

 

 

 

 

 

The Commissioner, said identity cards and other means of identification would henceforth be made compulsory for legitimate occupants, directing Forestry officials to take data of people living in the area including gender, occupation, state origin, among others, and forward it to the headquarters, within a shortest possible time.

 

 

 

 

 

 

 

 

 

Earlier in his remarks, Permanent Secretary in the ministry, Mr. Timothy Olatunji urged Baales in the area to protect the reserves by sustaining tree planting all through the year.

 

 

 

 

 

 

 

 

 

He said farmers in the reserve were permitted to plant cassava, maize and other food crops, noting that such agricultural practices should not be done at the detriment of trees that were planted, promising government’s assistance in seedlings provision to achieve the goal.

 

 

 

 

 

 

 

 

 

 

Responding, representative of Baales in the area, Chief Adewale Aderinwale, appreciated the Commissioner and the management team for the visit, assuring them of their cooperation at all times.

 

 

 

 

 

 

 

 

 

Highpoint of the visit was symbolic tree planting exercise carried out by the Commissioner, Permanent Secretary and the management staff at Aba Ekiti in the area.

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Leadership of Students’ Unions Across University,Poly, Colleges Begin Protest July 29th

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Leadership of Students’ Unions Across University,Poly, Colleges Begin Protest July 29th

 

*MEMO TO ALL STUDENTS, STUDENTS’ UNIONS, STUDENT ASSOCIATIONS AND AFFILIATED ORGANIZATIONS COVERING NIGERIAN UNIVERSITIES, POLYTECHNICS AND COLLEGES OF EDUCATION*
 The leadership of the National Association of University Students (NAUS), with the leadership of the National Association of Polytechnic Students(NAPS), and the National Association Nigerian of College of Education Students (NANCES), extends sincere greetings to Nigerian Students covering the aforementioned bodies, as well as, its affiliated associations across the country.
The purpose of this Memo is to prepare the minds of Nigerian students across tertiary institutions in the country, on the collective decision made by the leadership of the aforementioned associations, after due and painstaking consultations on the way forward for Nigerian Students.
The present economic quagmire occasioned by the rising cost of living, hike in cost of commodities , hike in petroleum price, hike in electricity tarriff, insecurity, poor funding of our institutions which presently affects more than 80% of the population in the country, is felt most by young Nigerians studying for various academic qualifications across tertiary institutions.
This development has led to poor socioeconomic welfare for students, a loss of interest in academic activities and a fall in grades, an increase in crimes and criminality, and an increase in violence on campuses and their environs.
Furthermore, the inability of federal, state and local governments to provide adequate immediate and long-term palliatives, especially for Nigerian Students, to cushion the effect of the high cost of living, is rather disappointing and also raises the alarm of the student movement in the country, of a seeming lack of initiatives and ideas on the most effective approach to sustainable economic recovery and growth.
Hence, the trio of NAUS, NAPS and NANCES, representing the voices of millions of Nigerian students emphatically condemns the lackadaisical attitude of the Government and declares a National Day Of Protest For Nigerian Students starting from Monday, July 29th, 2024 till further notice having communicated the government through various means including media but nothing has been done.
This protest is to serve a way of exercising our right and driving home our demands to the Federal and state governments, to influence innovation, conceptualization and implementation of plans for the alleviation of the hardship suffered by Nigerian students.
More directly, the trio of NAUS, NAPS AND NANCES frowns at the I don’t care attitude or the government towards reducing the current hardship been undergone by all of us especially the students which  contributes to the impoverishment of Nigerian Students.
The Leadership of NAUS, NAPS AND NANCES therefore urges all Nigerian students to prepare for the National Day of Protest coming up from the 29th of July, 2024.
With this notice, Student union officials are enjoined to be in touch with their respective associations for updates on the Protest, as security agencies will also been put on notice.
Leadership of Students' Unions Across University,Poly, Colleges Begin Protest July 29th
Aluta Continua, Justa Costa,  Victoria Ascerta.
Signed :
Comr. Obaji U. Marshal
National President, NAUS
Amb. Shuaib Ishaka Yahaya.
Senate President, NAUS
Comrade Ridwan Opeyemi Munirudeen,
National President, NAPS
Comrade Adeniji Boluwaji Temitope
 Senate President, NAPS
Amb. Comr. Eegunjobi Samuel Oluwaseun
National President, NANCES
SEN. KUR ISAAC USHAHEMBA
Senate President, NANCES

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