The UT Group, in more ways than one has conquered the world
of financial services with their brand UT Financial Services, and testimonies
abound. Today, the company, in its grand expansion drive, has diversified into
what Nigerians need most – clean, solid affordable houses, and so the emergence
of UT HOMES, which in the brief period it has existed has broken new grounds,
provided an alternative that has marveled clients and simplified the business
of providing homes.
Sitting atop the enviable organisation is the workaholic and
result oriented Chief Executive Officer, Mr. Alaba Adewale Adebajo, who
revealed the mouth watering delicacies UT HOMES has brought to the table.
Excerpts:
What is UT Financial services all about?
As the name implies, UT Financial Services is an
organisation reputed for giving glorious financial services to the public, and
its service is as regulated by the Central Bank of Nigeria. We are regulated to
perform the functions of loans giving, investments, capital raising and
anything that concerns finance generally. Just mention it, and UT is basically
equipped to handle it.
How long has UT Financial Services been in this great
endeavour?
UT has been in existence for as long as 10 prolific years in
Nigeria, and has been regulated by the CBN in those years.
In 10 years, what could you readily say are their
achievements?
In the first place, the fact that we are still here and
waxing strong indicates that we are doing something great in terms of
functioning within the ambit of the law, giving enduring services to the public
and helping to build and raise the GDP of Nigeria. It may interest you to know
that about two months ago, the CBN revoked the licenses of about 148 finance
houses and micro finance companies involved in finance and loans but our
professional standing stood us out, and we are still here.
Again, in the market place, it has been noted even with the
regulators that UT has grown. We have done very well. We have met all our
obligations. We have had no complaints whatsover in those 10 years. We have
been able to meet the demands of majority of our customers. We have brought in
new products. We have also expanded our branches, all within a space of 10
years.
Apart from rendering financial services, what other
expansion is associated with UT as a veritable group?
Having looked at the market, we noticed the shortage of
housing among Nigerians, especially in Lagos and Ogun state, so we formed a
sister company called UT HOMES. This company acquires properties and goes into
Joint Venture with like minds (individuals or companies), built houses, rent
them out and sell some of them at prices anyone can afford.
Still on UT HOMES, what can you say is its practical
mission, vision and objective as the case may be?
At the moment, UT Homes is building nice and affordable
houses. We have targeted the segment of the market where people hardly go to –
the low and medium income earners. In our consideration, we realised that
somebody just have to cater for this set Nigerians, and we took it upon ourselves
to get them something also in the neighbourhood of luxury as well. Of course,
there is still profit in it. So we build nice houses, gated communities and
sell at moderate prices to those in that category. On top of that, if you are
not able to pay, we offer you mortgage services and gove you the loan to buy it
which is mutually beneficial. As you can see, UT is basically out to bridge the
housing gap in the society.
You have spoken like you have the interest of your clients
at heart and paramount?
At UT, we have discovered that if your clients are not
happy, the business will remain stunted – it wouldn’t grow so at the heart of
everything, we put the interest of the clients above all else even at the
expense of our profit. We the clients are happy and vice versa, we make profit,
and that is why we make every of our product affordable. At UT, it is always
customers first. Our products are also tailor made. The client can come to us
and discuss their terms as regards what they can afford. We are very flexible.
We can make it suit your particular purpose. And that is why our concentration
is on client satisfaction.
So far, what inroads have you made in this journey of
satisfying customers and providing affordable housing at the same time?
So far, UT Homes is currently building a number of houses in
Mowe – about 10 units in that particular location. It is a test run for that
area, and people are already subscribing. And they like it. Honestly, they are
fantastic buildings in a gated community. It is a place someone can acquire as
a second home for relaxation at moderate price. At the same time, UT is in JV
with another company in GRA, Ikeja to build about 18 – 20 units with swimming
pool and other luxuries. These apartments will be rented out, also at affordable
prices.
Again, we are discussing with another company in the Aja
area of Lagos for another set of apartments. We build, beat the cost down for
the customer as it suits the environment.
What are the enabling environments as regards government
policy, staff welfare and prolific builders that have propelled your firm to
this height?
There are particularly no great challenge as God in the
first place is involved in all our activities. The enabling environments are
very positive. Lagos state for a start; it has been smooth sailing. In Ogun
State, there was a bit of challenge and delay, but everything worked out in the
end. The secret is have your paper work in good stead and there will be no
problem. In terms of workforce, we have the best hand both in the field and in
the office. Our builders are reputed and the equipment used are superb. Again,
land is readily available as there are a lot of people who have seen our worth
and what we can do and are willing to go into joint venture with us.
Let’s put it succinctly; why would I choose UT Homes among
the plethora of home providers scattered everywhere?
The secret lies in this simple expression – we care. Let me
surprise you – you can call us after you have bought and concluded transaction
with us, in fact at anytime. UT Homes will sell to you a solid property made
with the best of materials at the best of prices as well. We don’t just present
ourselves to you as UT Homes; we present ourselves to you as your partner in
growth, and monitor you every step of the way, resolving problems and
challenges as they arise. It is that caring syndrome which most companies in
the business don’t have. Over the last 10 years, our client will testify that
we actually do care.
Do we take it for granted that by ‘we care’, you mean you also
offer after sales services?
Of course, we really do after sell services. More
especially, once you are a UT customer, you have definitely become a family
member and we go with you all the way. Take this scenario: customers come for
loan from us, use it to start up his business and eventually pays up will still
receive our assistance when they run into problems. There are more a handful of
such cases. We don’t say because you have repaid our loan so we should leave
you to stew in your own juice – no. We go with you all the way, and that is the
meaning of we care. Once you have come into the fold, we see you as a client
forever. Note that most of these challenges are not even UT’ s problems, but we
will always listen. We direct them to the right places, help them correct basic
presentations and all what notes. And that’s the basic difference – We care.
Now, let’s break down the ‘we care’ policy
By we care, we mean we care. We make our rent affordable. We
care to train our staff on friendliness towards the customer. We care to
consider your business even after you are through with us. We also care enough
to help you navigate your business. This is beyond the scope of our business.
Our rates are above all, fantastic.
In five years, where do you see UT Homes?
In five years, I see UT Homes spread all over Lagos. We are
already giving good returns on investment, delivering quality products, which,
as they are adding up, people continue to notice. And when they do, they come
looking for us, and that’s how the spread will multiply. However, the ultimate
is catching the attention of the Lagos State government towards replicating
what we do on a greater level. That’s where I see us going.
Any possibility of spreading beyond Lagos State and across
Nigeria?
Well. we are already in Ogun State and will soon be in Port
Harcourt and other places. We already have a strong presence in Ghana and we
are moving on.
What would you say to those aspiring customers out there
looking for you?
Come let us discuss, and you will be happy you did.
Come to 1437 Sanusi Fafunwa, Street, Victoria Island or 3/5
Regina Omolara Street, off Opebi Road, Ikeja.
UBA GMD Calls for Public-Private Collaboration, Joins Aviation Minister to Commission New MMIA Departure Section
The newly renovated departure section of the Murtala Muhammed International Airport, Lagos, refurbished by United Bank for Africa (UBA) Plc, was officially commissioned on Friday, December 20th, 2024.
The laudable project, which marks a transformative moment in Nigeria’s aviation sector, underscores UBA’s unwavering commitment to national development and highlights the immense value of strategic public-private partnerships (PPPs).
The ceremony was graced by distinguished stakeholders, including the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN; the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku; other Directors, and Heads of Agencies operating at the Airport.
Speaking at the event, UBA’s Group Managing Director/CEO, Oliver Alawuba,lauded the collaboration that brought the project to fruition as he emphasised the need for public and private institutions to come together to build and revamp the nation’s assets.
“This renovation is a testament of UBA’s belief in the transformative power of investing in national assets. By modernising our airports, we not only enhance infrastructure but also position Nigeria as a global hub for tourism, trade, and investment,” he stated.
Alawuba took time to highlight the broader economic impact of such initiatives, urging increased private-sector participation in national development. “Public-private partnerships like this demonstrate what can be achieved when we unite for a shared vision of progress and investing in infrastructure catalyses economic growth, improves travel experiences, and creates opportunities across various sectors of the economy,” he added.
Alawuba reflected on the power of unity and collaboration, quoting Helen Keller: “Alone we can do so little; together we can do so much.” The commissioning of the renovated departure section serves as a reminder of what strategic partnerships can achieve in driving national development and elevating Nigeria’s global standing.”
While commissioning the project, Keyamo commended UBA for executing the project, a feat he termed a landmark achievement in Nigeria’s aviation sector. “This renovated departure section exemplifies the bank’s commitment to elevating aviation infrastructure, improving passenger experiences, and fostering international partnerships. It is a proud moment for the ministry and all stakeholders involved, and I thank the management of UBA for pioneering this initiative,” he remarked.
The minister highlighted other key achievements of his ministry, including compliance with the Cape Town Convention, the launch of a consumer protection portal, and advancements in major infrastructure projects such as the second runway at Abuja Airport and solar energy integration in airport operations.
The Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, commended UBA and other stakeholders for their contributions, adding, “This project reflects FAAN’s dedication to delivering world-class aviation infrastructure. The enhanced departure section not only elevates passenger experiences but also strengthens Nigeria’s competitive position in global aviation,” she said.
She called for more private-sector participation, emphasising that “partnerships like these are essential to transforming the aviation sector into a beacon of excellence.”
The newly renovated departure section boasts cutting-edge facilities designed to enhance efficiency and passenger comfort. This upgrade reaffirms the Murtala Muhammed International Airport’s status as a critical gateway to Nigeria and a major hub for international travel in Africa.
United Bank for Africa is Africa’s Global Bank. Operating across twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.
Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal
…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets
Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.
To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.
“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.
In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”
According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.
Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.
Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.
NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational
The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.
In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.
“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.
NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.
The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.
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