₦airaland Forum

hedonistic:
That's because 98% of the money (conservative estimate) used to buy mid-up market real estate in Nigeria is dirty money. Majority of the Lekki Ajah new money are internet fraudsters (90%), politicians/contractors, drug dealers, thieving employees cleaning out from their organisations, crooked 'businessmen', schemers, etc.

This money didn't originate from clean sources, so they are not subject to market forces in the real sense.

I think you do have a valid point! A lot of the Nigerian economy is driven by corruption. Things like estates, high end cars and other luxury purchases are from one deal or the other, so it skews the impact of real market forces.

vigopress:
*A peep into Governor Inuwa Yahaya's Network 11-100 initiative*

By Ismaila Uba Misilli

The starting point was the launch of the Network 11-100 project, which targets the construction of 100 kilomtres of roads in each of the 11 LGAs of the state.

And then followed the widespread roads construction across the nooks and crannies of the state signifying that Governor Muhammadu Inuwa Yahaya is in a hurry to open up rural communities and connect them to cities as well as improve transportation of goods and services for the overall socio-economic development of the state.

Road projects executed and the ones being executed by the administration include the construction of 16km Malala - Zaune - Dukkuyel road in Dukku LGA, 15km Mararraba – Jabba – Sambo Daji – Pandi Kola – Gwarar – Garin Wada road in Akko LGA, 21km Degri - Bembelem - Reme - Dong - Talasse road in Balanga LGA, upgrading of 19km Gona - Garko - Gujuba - Kalshingi road with spur to Maidugu in Akko LGA and upgrading of 26km Billiri - Gujuba - Kamu - Awak road in Billiri LGA,
It is indeed forward looking that road projects inherited from the immediate past administration have also been continued and financed.

Such road projects are those of the 11.25KM network in Jekadafari North in Gombe LGA, construction of 11.50km Malam Inna - Kurba - Titi road with spur to Kundulum in Gombe, Y/Deba, Akko and Kwami LGA, 23.53km Gombe Township roads phase VI in Gombe LGA including Dawaki, Madaki, Bolari-East etc,30km Ladongor - Kwiba - Amtawalam - Pobawure - Sabon Layi - Ayaba road in Billiri LGA,15km Bambam - Tula – Yiri in Kaltungo LGA and the 9.50km Boltongo - Nono road with spur to Garin Malami in Y/Deba.
Others are 11.50km road taking off from Gombe/Potiskum Federal Highway - Gerkwami - Daniya road in Kwami LGA, 27km Dukku - Kalam - Dokoro – road in Dukku LGA, 36km Dukku - Dokoro - Jamari road in Dukku, 9km Bajoga Township road in Funakaye LGA, 9.10km Bambam - Nwona - Kutare - Yola road in Balanga LGA, 1.59km road network in Rice/Vegetable oil Industrial Cluster at Nasarawo in Gombe LGA, 13km Kumo - Kalshingi road in Akko LGA, rehabilitation of 42km Ngaji Bauchi - Baure - Zambuk - Lubo - Daban Fulani road in Kwami and Y/Deba, 9.9km dualization of the section of Bauchi Gombe Federal Highway Phase II (Tumfure International Conference Centre - New City Gate in Gombe and Akko LGAs to ease means of transportation and economic activities. To complement the essence of the huge investment on roads, the government also procured 50 brand new 18-seater buses for the Gombe State Transport Service ( Gombe Line).

Not bad!! The roads look reasonably well constructed. And the good thing is that if they are indeed reasonable well constructed, because Gombe is relatively dry, the roads should last for a while.

EagleNest:
Lagos state government should make land checks, allocation and approvals more transparent than they are currently. May be digitizer it and allow easier access to it rather than making it a source of heartache for many investors or first time buyers. Kind of bring more sanity and ease with the whole process.

Very good point. I don't know why they can't put it online in conjunction with google. Google can do high quality imagery (more than what google maps shows) and then LASG can clearly demarcate lands that have been reserved, so that members of the public can know very easily.

Unfortunately in Nigeria in general, we like to hoard information, so that we can monetize it. In the map, one can clearly see the alignment left alone for the road bordered in blue. Those in trouble are those withing the portion of the road alignment bordered in red. The road alignment there has been completely taken over by properties.

The unfortunate thing is that many people there may actually have C of O or Governors consent, but the reality is that they would have been fraudulently processed by those in Ministry of Lands. After all, the Governor will not go and inspect lands before signing. He expects people in the Ministrey of Lands, Surveyor General etc to have done their due dilligence.

So before oil company came there don't they bury their dead before? How many people there have used N100k as burial rite before, or even seen N1mln before, now they are looking for N20mln.

The company killing those 3 people is not good, but let's face facts, this is just about using the dead to make money.

And someone will be asking why Nigeria's cost of production is more than Saudi and Russia. This kind of stuff goes on in every oil producing community.

VaselineCrew:
and I’ve been in UK seeing a guy in a Ferrari throw his mcdonals on the street.

Difference it, in Nigeri, most of that trash would end up in open gutters, while in the UK, it can easily be picked up

Nope, the difference is that in the UK, for every 100 people, 1 person would do that!

In Nigeria, for every 100 people, 90 people would do that. Therefore, much less junk on the roads to start with. With less junk on the road, less of it can get into the gutters.

GOFRONT:
And All Femi Adesina could do is Eat apple while meeting is going On...

Where you see apple? Its his face mask

fairheart:
I owe you no explanation.

Because you don't really have any

chapwiz:
The process of drilling oil in Saudi Arabia is more sophisticated than in Nigeria yet production cost is far cheaper than same Nigeria...NNPC is the headquarter of corruption in Nigeria some NNPC staff are far richer than senators, Rep. Members and some govs.

What process in Saudi is more sophisticated?? Saudi oil is shallow and on land. You could almost drill with a water borehole machine and hit oil.

Nigeria is swamp and offshore. More than 50% of Nigeria current oil output is from offshore where you are drilling at depths of 7,000- 13,000 feet.

What are you saying!?

ednut1:
Saudi oil is mostly on open desert land ours is deep inside swamps and ocean. Different cost. Saudis version of nnpc also controls most of the oil unlike here. Saudi fields are all computerized and every barrell is accounted for in Nigeria here it is not monitored. The taxes here are killing. Many of the fields here were dug in the 70s and are depreciating. So you cant compare. Its like comparing a man who farms near the water and another who farms in the desert. Their costs are not same

Thanks for explaining to them! The Senate people who couldn't understand simple explanation are the idiots in all of this.

I work in the oil and gas sector. Let me try and also explain:

Security is indeed a big challenge. All tankers and rig, materials movement from logistics bases to the production facilities need to be escorted with security house boats. Even movement by land of oil staff to oil field locations have to be with security escort front and back, with mopol/soldiers. Imagine the huge cost of this per year. Are you telling me that in Saudi or Norway or Russia, they have the incur such costs? Nigeria is the kidnap, sea piracy capital of the world and people are suprised about the extar cost of security.

A number of our oil wells are quite old with depreciating production, which are expensive to keep going. Most of the new oil of the past 2 decades have been from deep offshore which is expensive.

Our production is mainly in swampy terrain with attendant difficulty in accessing it. Swamp rig costs more than land rig. This adds to costs. Middle East countries on the other hand drill for oil on firm land.

NNPC/NAPIMS themselves are a big problem. Because they pay their Cash call late, payments to vendors are always delayed. Because of this, vendors add a cash 'premium' to their cost to compensate for late payments, which drives up cost.

NNPC/NAPIMS themselves are another problem, because many of their top guys front for Nigerian companies that cannot do the job. The bid low to get the job, the frustrate the IOC's with non performance. Then they come with large variation to milk the IOC's. Instead of NAPIMS to weild the big hammer against them, they support them because the NAPIMS guy fronting for the contractor will get a cut. (Think PID).

Because Nigeria is so undeveloped and it's people so poor, they see oil company as their only source for wealth. Therefore the burden on oil companies to provide water, roads, bridges, medical care, electricity etc for communities is much higher than other countries. There is also bush entry, freedom to operate etc. Do you think they pay all these in Saudi, UAE, Norway and Russia

Also NDDC contribution is 3% of any oil company budget. So if Chevron has a budget of $1.5bln for 2020, then NDDC contribution is $45mln is expected to be paid to NDDC. This impacts opex of oil companies. Does any major oil producing country have NDDC

There are still more reasons I can give, but I rest my case!!!!!!!!!!!!!!

fairheart:
A country without intelligent planners in public offices!
If this is a serious and vision-driven country, Petrol should be #50 per litre right now. But it's what it is!

Look at that picture: all they do is sit and rant on weighty matters they are not committed to create solutions to, and at the end of the month, take home millions of Naira.
Some of them even sleep during sessions and still get paid fully. No doctor, engineer, driver, banker, etc can do that and still keep their jobs.
Nigeria has no plan, so I am not surprised that we pay so much for what's cheap in other oil-producing countries.

Please explain how petrol is supposed to be N50!?

It's just policy on paper that doesn't amount to any difference to the lives of Lagosians.

All it means is that some people will harras residents and extort money for themselves.

I hope they were able to take DNA samples. After all Lagos State is supposed to have DNA testing facility.

Unfortunately, knowing Nigeria Police, they would probably have contaminated the scene!!!

Smithkafors:
See as gutter dey....very dangerous.God na your hand we dey.

My brother!!!! You might be trying to park by the side of the road and before you know it, one tyre slips into the gutter because there is no barrier.

Or even if you successfully park, in alighting from the car, you could fall into the gutter.

And someone will tell me we have Engineers in Ministry of Works!! Who on earth designed this!!?? This country na useless country walahi!

Everything looks good from above!! Even Ibadan would look better from above than below.

The real action will start when crude oil prices hit $60+ per liter. At that price, petrol will need to be at around N180+.

Remains to be seen if this government has the balls to increase the price of petrol beyond N145!

Even though, i like the price of cheap petrol as much as the next guy, my training as an Accountant and Economist tells me we are wasting money and creating massive inefficiencies in our supply chain by subsidizing petrol. If Kaduna, Warri and PH refineries had been sold and operating optimally, by now young promising engineers, technicians etc would have a dream of working there. But in the hands of NNPC, it's only the privileged few who can work there. Not to mention jobs created for suppliers, sub contractors etc

When all we had was NITEL, how many people could get a job there. But see what happened when MTN, Glo, Airtel and co came. Asides the thousands of people directly employed with good jobs, we had phone call operators, recharge card sellers, GSM handset sellers, those supplying diesel to base stations, those supplying generators, those building base stations etc, etc. In many cities, GSM villages sprung up providing jobs to thousands.

This is a clear example of how private sector efficiency can provide jobs. Whilst the private sector is not free of corruption and nepotism, it is far less than in the public sector. For people who do not know anyone, there is a chance of employment in the private sector. In the public sector, it's almost impossible!!


This does not even consider the infrastructure we could have built with all the money thrown away on subsidy over the last 60 years. Even the mighty Saudi Arabia with 12mln barrels of oil production and just 33mln people is reducing subsidies, it's now Nigeria with just 2mln barrels and 200mln people that will keep it?

Don't be daft!!

AdeniyiA:
The real price shouldn't even be up to #50

It's like this Governor has been waiting for COVID 19 to show up so he can do his own lock down.

Governors seem very eager to do lock down. Maybe because it gives them access to state funds with no budget and that is difficult to account for, thereby making it easier for them to steal!

Not bad! But not all that either. House looks pretty plain, based on those pictures. I have seen many houses in Ikota or Pinnock beach estate with interiors that match that. The only upside is that it's in Banana Island.

If NNPC goes ahead to recruit in the low oil price scenario, while expecting the IOC's to reduce their cost of operations to make Nigeria's cost of oil to be $10 per barrel, then we are not serious as a nation.

synic67:
www.nairaland.com/attachments/11642289_abc_jpeg8375021703833ce6fcfbd28c9b2cac66

Guy, grow up

VaselineCrew:
Whats the point of clearing out open gutters when those gutters will be filled up again in no time because, guess what? THEY ARE OPEN GUTTERS.

What’s the point of telling citizens not to throw stuff in the gutters?

Name one country where their citizens don’t litter, just one.

The difference is, these countries don’t have open gutters, so road sweepers can simply sweep away garbage.

However in Nigeria, with an OPEN GUTTER on every street, like a badge of honor, you expect trash not to enter open gutters? Then you start begging citizens not to litter, as if you can attain a society with 100% compliance?

I’m tired of all these African politicians abeg, simple open gutter, you can’t cover or burry underneath a sidewalk?

Mtcheew

Guy calm down! I am not sure there is any country where their citizens are as filthy as Nigeria with respect to garbage disposal. Even Ghana, South Africa and Rwanda don’t have as much as 10% of the filth on the roads as we do. While government has a big role to play, but we citizens are filthy.

In PH I once saw a woman driving a Hyundai Tucson wind down the back windows for her kids to throw out leftover takeaway Mr Biggs rice and chicken unto the road. That’s a middle class woman who should know better. How much more our illiterate market women, conductors etc. Once people finish pure water or pet bottle coke, next thing is to throw down on the floor.

Even some of our newer roads with covered drainage, you find garbage blocking the flow of water into the underground drainage.

Or11:
Don't attempt to eat that antelope if it's not too late already

Are you for real? In this country where people scoop petrol from the road, butcher dead washed up whale, dig up expired buried frozen chicken from a landfill - this is as fresh as it gets!!

Esseite:
If the Big shots are retrenching to cut down cost, what would stop the small ones whom are majorly tied to servicing the big ones directly and indirectly..

It's bad news all around dude!!

Saving the Nigeria Police goes much more than simple re organisation o! The police need:

Recruitment - police to populace ratio is too low
Training - police should go back for intensive training.
Equipment - not sure why we can't equip our police properly.
Better salary
Life insurance
Updated rules and regulations
Technology

And even more things than I can remember now.

Reference:
The F-22 is an air superiority fighter meaning it is primarily designed to kill other fighters. This is does by stealth, an extraordinarily powerful radar that enables it engage and destroy enemy planes well beyond their own missile capabilities. It can engage targets up to 150 kilometres, further than any fighter today.

What makes a good jet fighter makes a poor ground attack aircraft. Ground attack means that your primary enemy is on the ground. If your enemy is not a missile battery equiped with radar the F-22 will never detect you at the speed it and the minimum altitude it operates. You need an aircraft that is slow enough to recon and spot highly mobile targets such as infantry. This is where the Tucano excels.

The best ground attack aircraft in the world today is the Fairchild A-10 Warthog. But even that plane's strong point is against armour like battle tanks not even infantry. By the way the plane is over 40 years old in service and the technology is becoming obsolete. The US will not even sell to us anyway.

I always like a guy who knows his stuff. Too many people here don't know enough. They think it's all about the way it looks in movies.

endeavor:
Guy, you sabi fighter jets so?
Check fighter jets like:
Euro Typhoon
Sukhoi
Mig
Rafael Dassualt
and the likes.

This yeye tucano be like rolling stone

Dude, it depends on the type of war you are fighting. Those planes look sexy yes, but are designed more for air to air combat and air to ground when dealing with ships, tanks, surface to air missile batteries etc ie more conventional warfare. They won't do all well against rag tag types of ground forces we are dealing with.

gidgiddy:
Im not impressed with these planes, looks like the type used in the second world war

The planes have an old school look indeed, but it does seem to come equipped with relatively modern avionics. I guess it meets our need for unsophisticated air to surface attacks considering we are dealing with bandits and militants.

The Maisonette in the estate behind Femi Okunnu is about N80mln and government will say its delivering affordable housing!!

Housing in Lagos is way more expensive than it needs to be. If LASG want to help, they should build high rise 1, 2 and 3 apartment building, nothing overly fancy for middle class just starting out.

However I am not sure there can be any really affordable housing for our version of the common man. Even if a 2bed flat is N20mln or rent is N1mln per year, that's still too much for the so called common man in Nigeria.

While Lagos properties are expensive, part of the problem is the very low earning power of Nigerians relative to cost of building.

I'm curious. Does he bang as a guy and 'give' to babes? Or does he bang as a girl and 'receives' from guys?

https://www.youtube.com/watch?v=gro2FuAkkgE

I watched a video by Tayo Aina on a $200k Jo Bourg property recently and it got me thinking. I never really thought about it till now, but are we really getting 'VALUE' for the properties we buy in Nigeria compared to South Africa for the same price?

Based on what I see, it seems not. South African houses have better overall architectural design, SA houses have better use of interior space, SA houses have bigger windows and more natural light, SA houses have better fit and finish (some of the quality of finishes we are asked to pay up to N80mln for is just shocking at times), SA houses have better greenery around and SA houses have better environmental ambiance.

Take a look at the pdf presentation in the link below comparing equivalently priced SA (Pretoria) house vs Nigeria (Osapa) house and let's have a conversation on what you think between the two. Both are circa N78mln.


https://drive.google.com/file/d/1w7Mr2ARjltF1qn6wpQI-Si8AHCEat622/view?usp=sharing


If you think SA offers a much better total value proposition, I wonder why Lekki is full of N100mln+ houses? Even as far as Osapa, Agungi, Ologolo, Ikate and Okota!! In Pinnock beach, a number of new contemporary properties go for as high as N200mln.

Definition of value differs, but FOR ME, I am really struggling to see the value proposition in our properties.

The current ban on Okada and Keke has already failed. There are already everywhere now. Only places you wont see them is maybe VI and Marina, but beyond Lekki toll gate, they are at all the junctions.

When are going to get serious in this country?