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.
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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?
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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.
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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.
Dangote Group is the elixir of Gateway int’l Trade Fair – OGUNCCIMA
…Subsidiaries hit Ogun trade fair
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Ogun State Chambers of Commerce, Industry, Mines and Agriculture (OGUNCCIMA) has described the Dangote Group as the driving force of the Gateway International Trade Fair.
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This is just as companies under the leading African Indigenous Conglomerate, Dangote Industries Limited, hit the trade fair with their various products as part of strategies to increase market share and deepen customers’ affection.
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The President of the chamber, Engr. Mike Akingbade, stated this when Ogun state governor, Dapo Abiodun officially opened the 13th edition of the Trade Fair at the M.K.O Abiola Trade Fair Complex, Oke Mosan, Abeokuta
Akingbade lauded the support of Dangote Group in sustaining the Trade Fair, which he noted has led to the prosperity of the state and economic freedom for the people.
“A special commendation must be given to Dangote Industries Limited which has remained the major sponsor of the Gateway International Trade Fair for many years. The committed support of the Dangote Group is the elixir with which the trade fair is activated and OGUNCCINA is eternally grateful for the wonderful gesture of the company,” he said.
He said the 13th Gateway International Trade Fair with the theme: “Achieving Economic Prosperity through Business Connection, Trade and Investment, “is aimed among others, to allow businesses to expand their reach, access new markets, and diversify their customer base. He emphasized that forging robust business connections, participating in trade activities, and making strategic investments will unlock new markets, stimulate economic growth, and enhance overall prosperity.
The Regional Sales Director, Dangote Cement PLC, Lagos/Ogun, Mr Tunde Mabogunje in his goodwill address, assured Ogun state government and OGUNCIMMA of the continuous support of the company, noting that the Group is dedicated to enhancing the prosperity of Nigeria by creating opportunities for Nigerians and businesses in the country.
Mabogunje said visitors to the Dangote Group’s pavilion at the fair will have the opportunity of buying products of these companies at reasonably reduced prices as the Dangote businesses will be selling at discounted prices.
He also hinted that the Dangote Refinery will be part of the next edition of the Trade Fair.
“We want to appreciate Ogun state for bringing us as a partner. We want to assure you that we will be here next year bigger. By next year, our refinery will be part of the Trade Fair,” he said.
Governor Dapo Abiodun who visited the Dangote pavilion immediately after performing the ribbon-cutting ceremony, commended the company and others for supporting the Trade Fair which he noted is aimed at stimulating economic growth.
Nigeria Launches New Fiscal Incentives to Revitalise Oil & Gas Sector, Aiming to Attract $10 Billion Investment
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… as FG endorses consolidated guidelines
Sahara Weekly Reports That Today, in a move to further revitalise the oil and gas industry’s contribution to the Nigerian Economy, Wale Edun, OFR, Minister of Finance and Coordinating Minister of the Economy, presided over a signing ceremony at the Federal Ministry of Finance headquarters in Abuja endorsing the Consolidated Guidelines for the implementation of Fiscal Incentives for the Oil & Gas Sector – a cornerstone of the Presidential Directive aimed at enhancing the Nigerian oil & gas sector’s global competitiveness whilst stimulating economic growth.
As disclosed during the signing, the Presidential Directives were developed and coordinated by the Special Adviser to the President on Energy, Mrs. Olu Verheijen to ensure a competitive framework for the Nigerian oil & gas industry. These Consolidated guidelines for the fiscal incentives are based on extensive collaboration across Finance and Petroleum Ministries and involved several key regulatory bodies including the Federal Inland Revenue Service (FIRS), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
According to Mrs. Verheijen, these new measures have been designed to deliver a competitive Internal Rate of Return (IRR) for Oil & Gas Projects and attract over $10 billion in new investments within the next 12-18 months. They also underscore Nigeria’s commitment to reaching its long term oil production target of 4 million barrels per day whilst enhancing the reliability of gas supply for to boost export earnings and fuel Nigeria’s industrialization.
Mrs. Verheijen disclosed that among the guidelines signed were the NUPRC Guideline on Hydrocarbon Liquids Content in a Non-Associated Gas (NAG) Field, essential for accurately categorising and quantifying the hydrocarbon liquid content in these fields. Additional guidelines focused on the applicability of tax credits and allowances for Non-Associated Gas Greenfield Development and the Midstream Capital and Gas Utilization Allowance, providing taxpayers with clarity on the computation of these benefits.
HM Edun, in his remarks, thanked President Bola Ahmed Tinubu for signing the directive in February 2024 to engender growth in the Nigerian oil and gas sector, which had stagnated for over the last decade. He also emphasised the potential of the guidelines, saying, “The idea is to create an atmosphere conducive to international competitiveness such that investment comes in. And in this case, we know it’s foreign direct investment”.
The signing ceremony was attended by various stakeholders, including NNPC Limited, Oil Producers Trade Section (OPTS) and the Independent Petroleum Producers Group (IPPG), further highlighting Nigeria’s unified approach toward reinvigorating its oil and gas sector.
ASR AFRICA KICKS OFF THE CONSTRUCTION OF A N250 MILLION ABDUL SAMAD RABIU SPORT COMPLEX FOR THE UNIVERSITY OF JOS
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The Abdul Samad Rabiu Africa Initiative (ASR Africa), the philanthropic initiative of the Chairman of BUA Group, Abdul Samad Rabiu (CFR, CON), has kicked off the construction of the N250 million sport complex for the University of Jos. The sporting facility which is sited at the Naraguta Campus of the university, is set to consolidate the preparedness of the university in hosting the Nigerian Universities Games Association (NUGA).
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The facility will feature a 300-seater spectator stand, changing rooms, a lawn tennis court, and a basketball court.
Speaking at the event, the Vice Chancellor of the University, Prof. Tanko Ishaya, praised the Chairman of ASR Africa, Abdul Samad Rabiu for the critical facility intervention. He mentioned that at the time of the institution’s nomination by ASR Africa for this laudable project, the university management was concerned about sourcing for funds to meet up with its nomination as the host university for the NUGA games. He added that with the ASR Africa TEGS grant, the university is positioned to host more games during the tournament.
The Vice Chancellor noted that the university signed a memorandum of understanding with the International Sports University in South Korea to develop a comprehensive sports programme to harness the talents that abound across the country in the various fields of sports and this complex would be a business boost to implement the agreement.
The Managing Director of ASR Africa, Dr. Ubon Udoh, applauded the management of the University of Jos for being an outstanding institution. He added that all of the universities who are beneficiaries of the ASR Africa Tertiary Education Grant Scheme, were selected based on some stringent criteria which include the quality of leadership, the academic excellence at the University, amongst others. Dr Udoh assured the university of the speedy completion of the project ahead of NUGA games and reiterated the commitment of the Chairman of BUA Group and ASR Africa, in supporting the education sector in Nigeria and Africa as a whole by providing indigenous solutions.
About ASR Africa
ASR Africa is the brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.
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