We complain about lack of development yet when someone tries to bring development through order and discipline we still complain. The reality is okadas are not the way forward. The earlier they are phased out the better.

^^^Good point.

Still I find it interesting that Yorubaland is enjoying growth now that there are no Yoruba politicians in the upper echelon of Nigeria's political hierarchy: President, VP, Senate pres, House speaker etc.

Mr. Nwazor Nwose, aka Bolaji,

Using Yoruba name to commit crime

Heritage Mall coming soon



BY the last quarter of 2012, the bubbling,rustic landscape of Ibadan Central Business District will witness a dramatic change with the opening of N1.4 billion Heritage Mall project owned by Odu’a Investment Company Limited.

Prompted by a paradigm shift in shopping habit of residents and a strategic focus on real estate investment both as a hedge against inflation and a major growth sector in the economy with premium returns, the Heritage Mall is a landmark construction that has provided jobs for over 725 people in addition to anciliary services.

Tribune Business tour of the complex now 70 per cent completed indicated a range of facilities including; banking halls, branded restaurant, children’s play area escalators and panoramic lifts, fitness gym and health club, food court, over 200 car parking lot, specialized retail shops and ultra-modern cinema halls.

Conducting Tribune Business round the site, Mr Hakeem Gbadamosi, the project engineer, said the construction began two years ago, and added that the mall is a configuration of two buildings, woven together by intricate metals, structures and steep rooflines with variation in style occupying 8,000 square metres and 6,000 square metres respectively. Essentially, the Heritage mall is linked with the Cocoa Mall also located within the same stretch of the premises. With a concrete frame structure made of beams and structural steel member, the building is intended to service retail outlets, industrial businesses and recreational endeavour such as cinema.

In an exclusive interview in his office, Group Managing Director, Odu’a Investment Company Limited, Mr Adebayo Jimoh disclosed that the project is in two dimensions.

“We have the Heritage Mall which is fully built and financed 100 per cent by Odu’a Investment Company. The total cost of the Mall on completion is about N1.4 billion. We financed this project almost 90 per cent. It is a four-flour building. The ground floor is the basement with a parking lot for 200 vehicles. The first floor is the major shopping mall for our anchor tenants. On this floor is a banking hall with ATMs,” he stated.

According to him, “the second floor is for international brands like British Homes Stores pharmacy, bookstore, children toys and games and store for basic have needs. The third floor is for cinema. The cinema also combines the food court which consists of six brands of international standard. This cinema is a digitalised one, while the escalators have been fixed.”

He stressed that the Cocoa Mall which is an offshoot of the former Head office complex of the investment holding company at Cocoa House was necessitated by the need to accommodate other prospective tenants of the mall.

“The Cocoa Mall is on a Public-Private partnership platform. We invited a private partner and, mark you, so far, international brands have indicated interest in the mall and the response is remarkable to the extent that we charge 100 dollars per square metre. All things being equal, we expect to open in September,” the Odu’a GMD said.

Speaking further on the rationale for diversification into the real estate project, Mr Jimoh continued: “When we talk about the real estate which is one of the five major growth sectors, the critical aspect of it is location. When I discovered that there was a paradigm shift in terms of the shopping habit of Nigerians because of our exposure, I started peeping into the area of space and I discovered the abandoned premises of the defunct Sketch which had not been used for the past 12 years.

“What I did first was to invite and address the press about two years ago. I told them we would turn the place around and that is the result of what we are seeing now. By the grace of God, the whole of the construction area would have become a cynosure of attraction.

“I must let you know that there is so much still coming. You will also see that we have also delved into residential properties because of our concept of location. It will be unforgivable for me as a chief executive to sit on an organisation and not allow your asset to sweat.

“Our assets were not sweating. They were not even working, let alone sweating. We had three bed-room bungalows on a 5,000sq meter of land that were not sweating. The whole place have now been turned around with massive apartments emerging. We are going to do more.”

“We are also providing shopping services at Idi-Ape, here in Ibadan. There is a shopping complex going on there beside Ibadan Civic Centre. I know that with the way government is handling things, there is definitely going to come to a time when there will be a call for urban renewal. Iwo road trading will not be the same again in another five years. Our shopping complex is already 70 per cent completed and people are already paying for it. Ibadan is a city of endless growth, but we have to entice people through the provision of facilities and entertainment, and that is what we are targeting.

“From here, we will reach out to other Odu’a states to begin do some real estate development, because I keep telling people that that is a critical growth sector,” said Mr Jimoh who revealed that tenancy occupation in the mall is already in full throttle and payment is denominated in dollars.

Great development. Southwest's decision to dumped PDP is already paying off.

stonebridge: Nigerians sha. Do we have any city in Nigeria?. If Ibadan is one of the 5 African cities to watch then Africa is truly doomed.

Pessimist much?

No surprise there. The giant is rising.

Ileke-IdI:
I'd have to agree with Sagamite's "Rubbish roads" comment.

True, those are some of THE best roads I've seen in Nigeria, but they're accident-prone. One side of the road is being used as two-lane road when in actuality, it's constructed as a one-way lane. The roads are large enough to be used as two even three lanes. It's best to fix that.

Look how dangerous and improperly constructed they are..

All good criticism. The first task however is to get roadside traders off the roads. That is still ongoing I believe. Then we can have open and clean roads and put other proper traffic maintenance.

Iwo Road taken over by traders on both sides, and the ugly ubiquitous masts!!

The 3 million people city

Ibadan on the come up!!!

Alaafia l‘oro:

At first you said Ibadan is nothing,after seeing the pictures you changed, it just a matter of time before you concur with others that Ibadan is actually developing.
@op... It‘s good to hear such news about Ibadan.

Don't mind the dindinrin

Mapo Hall

Ileke-IdI:


Ibadan looks quite nice from this angle.

Of course. Sure the city have been neglected but the foundation is good and it can be awaken again. Lets hope the governor is serious.

Investment destinations in Nigeria 2012



Nigeria is a tale of two regions as city-level opportunities in the south overshadow widespread insecurity in the north. Companies must overcome corporate HQ fears regarding operational risks to position for long-term success in Nigeria, which remains the most attractive long-term investment destination in Sub-Saharan Africa.

Last month ethnic conflict ravaged northern Nigeria, leaving 150 dead and 100 injured. This continues a troubling trend of violence in 2012. From an investment perspective, this has rattled foreign companies that are wondering if Nigeria is becoming too risky. However, halting or drastically scaling back investment plans would be a mistake for senior executives.

Much of the violence is isolated in the economically underdeveloped north. The total GDP of 7 attack locations between April 5 and May 4 is US$25 billion, which represents less than 10% of Nigeria’s economy. On the other hand, the total GDP of 7 top investment destinations in the south is US$80 billion. This represents more than 30% of Nigeria’s economy.

Nigeria’s five largest cities, all of which are located in the south, have a combined GDP exceeding US$75 billion. This is surpassed only by Angola and South Africa. City GDP in Nigeria’s south is set to expand significantly this quarter, even if only on paper, because the government is shifting the base year for real GDP to 2009 from 1990. The result will be an overnight gain of 40% that closes the overall economy size gap between Nigeria and South Africa to only 10%.

Southern cities represent great opportunities for companies targeting emerging consumer classes, public sector projects, and other private sector companies flocking to urban areas. Companies should establish good relationships with distributors that know the southern part of the country well. Much of your sales opportunities are likely to be concentrated in this region for the foreseeable future.


http://blog.frontierstrategygroup.com/2012/05/a-tale-of-two-regions-southern-investment-northern-insecurity-in-nigeria/

The report was from Frontier Strategy Group as it was reported in This Day earlier this year

http://blog.frontierstrategygroup.com/2011/08/capturing-africa%E2%80%99s-transformative-urban-growth/

From the report:

"Names like Ouagadougou, Lubumbashi, Ibadan and Douala may not yet rank alongside Chengdu, Wuhan or Zhengzhou in consumer goods’ companies expansion planning but they should definitely be on the radar. Fortune favors the brave, and the well-informed."

Josh090:
Can a comment be more moronic than this?

Don't mind him jare, his grand father probably studied and worked in Ibadan.

Did white people put you up to this? How much are they paying you to degrade your own people if indeed you're a Nigerian?

soundtruth: is she not a front for one of them corrupt thieving leaders?

No she is not.

Alakija acquired an OPL 216 way back in 1993 which is just now yielding her big money after years of oil prospecting. In 1998 this oil block was found to have huge oil and gas reserve so FG tried to take it from her. She went to court and won.

http://www.thisdaylive.com/articles/supreme-court-voids-fg-s-acquisition-of-oml-127/115697/

And the plot against Nigeria thickens.

Real life hard so deluded Nigerians are now living in alternative history in non-existing republics.



Meanwhile in real life, according to the constitution Nigeria shall remain a united, indivisible, indissoluble nation.

VolvoS60:

The 'issues' at stake are simple. Nigerians deserve a transparent process of allocation of oil prospecting licences that protects their interests and those of their unborn children. Nigerians deserve a fair deal. It makes no sense to issue OPL (in an opaque process shrouded in secrecy) to rent seekers (who though Nigerians) have absolutely no interest in developing indigenous capability in oil prospecting. How does that make us better off?

Let's not confuse things. It is fraudulent to imply (as some posters have done) that a request for transparency is in any way an attempt to condone the excesses and criminality of foreign oil majors. You know this.

Yes transparency is lacking in our government generally but I think you're confuse about what Oil Prospecting License mean. It mean you're taking risk that you will find oil in a particular area in the ocean. Many have returned empty handed if you don't know. The open secret is that the Nigerian territorial water is still a virgin area as far as oil exploration is concern so as I said before any Nigerian can tender application for an unoccupied OPL if they can afford the license and the heavy cost of oil exploration. Its business.

Now I am not denying cronyism and nepotism as far as our elites are concern but I believe if the average Nigerian is educated enough our elites can easily be use as force for good instead of the current trend of looking at them as common thieves.

VolvoS60:


^^^^Your words sir. Note the bit about how "many Nigerians AFTER HAVING BEEN AWARDED THE OIL BLOCKS SUDDENLY REALIZED THAT THEY HAVE NO IDEA HOW, OR THE FINANCE TO BRING OUT OIL FROM DEEP UNDER WATER".

Your words sir.

I ask you: Would you run a one-man business this way?

Would you award a contract to a supplier or sub-contractor who had no clue about how to execute or deliver? Would you knowingly inflate your cost profile by awarding contracts to brokers and rent seekers who add absolutely NO value to your value chain; and whose SOLE 'function' is to re-award the contract (or 'partner' with those who CAN actually do the job?) Would you?

This is no way to run a sole proprietorship, not to talk of a country of over 150 million black Africans. This kind of nonsense costs lives.

Let me take you back a bit. Remember Bi-courtney and the expressway concessioned to it? Bi-courtney 'won' the concession and only then did it start looking for finance to construct the road. Sir, kindly try to count the cost in human lives from the Nigerian government's devilish corruption concerning that road and other critical infrastructure. Where else but Nigeria is business routinely done in this manner?

Do you still hold the strange view that its ok to be buggered as long as its by your own countrymen rather than foreigners? Do you sir?

And all these have what to do with Mrs. Alakija who employ Nigerians and thereby help put food on the table through her business?

Katsumoto:

But it matters not who carries out the injustice, what matters is that there is injustice. Stakeholders who do not receive the benefits of natural resources shouldn't be assuaged that the resources are now commandeered by their brothers instead of foreigners. The hungry remain hungry and the uneducated remain uneducated.

Rather than fighting that your kinsman has now joined the gang of thieves, you should be fighting against the continued theft.

What injustice are you talking about other than the petty Nigerian self hatred What stakeholders Did you or anybody you know invested in Mrs Alakija's oil venture? Were you there with her when she was taking the risk to put all her money into prospecting for oil? And pray tell how will the hungry feed or the uneducated learn? The woman employed Nigerians in her business for God's sake.

Theft? So offshore oil exploration by Nigerians is now theft? What exactly is bugging you really?

VolvoS60:


^^^^Sir, when I read posts like yours, I immediately place the author in one of two groups:


A person who genuinely doesn't know what the issues at stake really are (and who needs clarification and guidance)

OR

A devious, dangerous schemer who knows exactly what he/she is doing on these boards.


The question is: which group do you fall into, sir?

Pray tell what issues are at stake

Gideonyte:

Thanks VolvoS60! I was begining to think I'm invisible...LOL.

NLders should read that report properly instead of insulting themselves and see the crap going on in this country.

Sadly, Alakija is not the only one in this mess, there are many more! Even the recent sales of oil blocks by Shell has gone to the same cabal again. OIL is the only reason why some people in this country still shout "ONE NIGERIA".

I feel something is coming to reward these people, this evil is just too much. Whatever a man sows is what he reaps.

Stop these drama please. Its not like if the process were more transparent the likes of you and I would be acquiring oil blocks by ship load. As someone has pointed out earlier you should worry more about the likes of Chagouri, Aswani and the STILL fully german julius berger siphoning your money out.

vanessa_ra: How does one acquire an oil block? Need to change career fast

Actually any Nigerian can apply for license, lease or contract to prospect for oil offshore. The problem is the typical Nigerian ignorance, they confuse prospecting for oil (oil block) for oil itself. Many Nigerians after having been awarded the oil blocks suddenly realized that they have no idea how, or the finance to bring out oil from deep under water. You can Google to see how much oil rigs cost. Or the technical knowledge needed. My point is its not beans to make money from oil blocks so don't change your career yet.

chosen04: she has an oil bloc that pulls in N157 million a day.

---------------------------------------------------------------------------------

SW peeps robbing the natural resources of SS people and not contributing a kobo to their "host upkeep"

So in your cotton wool brain only "SW peeps" have oil blocks?!!! Nigerian wonder.

JNdupu:

How about O-ver-sa-bi?

Not everyone has time with your elele keyboard. Abeg drop your own story or carry go.

Learn to pay attention to detail you lazy illiterate fool. No wonder the country is a mess. Basu basu work all over the place.

Ajekpakos??

Its Ajepako (A-jẹ-pá-kó).

Real-Mccoy:


The IQ of most individuals on nairaland and some other low life online nigeria's blog is borderline between rhetard.... Same people will become senators, governors and president....LMAO

Its mostly because of ignorance rather than intelligence. Most are not properly educated or exposed.

KINGwax: So when does indecency becomes a criterion for civilization or for a successful relationship?
How abt your 15yr's old girl kissin her boyfriend in your presence. Now, don't tell me dt's bad now!

What in God's name is this to do with 15 year olds

I am sure the poster is talking about adults.

maxsiollun: Astute points Igbanibo. Maj-Gen (as he then was) Dogonyaro made a strategic impact when commanding ECOMOG in Liberia. It was strange that IBB withdrew him so quickly, and the ECOMOG mission never had the same dynamism after that.

Col Shuwa has been commended many times for his textbook command of 1 Div during the civil war. Such a shame that a disciplined and conventional Sandhurst trained officer such as he was not permitted to command the army.

Do you remember the officers that were in command when the Nigerian army invaded Freetown Besides Gen. Maxwell Khobe of course.

SapeleGuy: When other countries talk about great generals they talk of conflict against foreign armies.
Here you are celebrating brother killing brother. Big disgrace.

Nothing wrong with this. During the American civil war Ulysses S. Grant commanded the U.S army against the rebels. He later became U.S president.

NovusHomo: Who keeps bringing these slaves to Nigeria? Danny Glover and some other clown got "cheftaincy" titles in some backwater village. Rick Ross made fun of the slums in Fashola's backyard. Wesley Snipes ran here at the height of his tax problems. (he's actually in jail for some tax crime). And now these tarts. Must Nigeria always ask to be insulted?

You're a foolish and ignorant backward individual who need to read history ASAP or die because you're of no use.




What kind of history do they teach in Nigerian schools nowadays besides mansa musa and his useless trip to mecca