₦airaland Forum

lionshare:
On the average a $1.5B building project should create over 3000 jobs direct & indirect.

My brother. When una dey call all these big, big money untop of one shinny "liability" wey politicians dey take launder money in the name of high rise building ...e dey make my blood dey hot.....e come be like say this boju-boju wey dem dey do us for that Country no dey finish sef...🤔

Let me tickle you a little, a responsible, honest , transparent and smart government will invest that money ($1.5bn) in Oil/gas and will pay off the loan in about 2.5 years post production if the agreement is start with production sharing formula where Lagos state system about 40% to the Chinese in the first year from First Oil date, then another 40% in the 2nd year and 20% in the mid 3rd year...let me explain!

@$1.5bn lagos state can enter a deal with a local deepwater offshore production company to develop
1. A deep water subsea production field with about 10 producing & Water injection wells
2. Tieback about 12km subsea Pipelines & Risers to an existing production platform with capacity to receive some extra 70,000bbl/day production.
3. Install umbilicals, production manifolds, 10k subsea trees, Sleds, jumpers all the necessary subsea jewelries and pull in / tieback to the spare capacity Host facility ( Production platform or an FPSO).
4. Part of that money will cover mobilization of installation vessels spreads equipped with Many local technical resources, welders, painters...RoV technicians, Engineers, marine crew, catering, logistics ( crew boats, supply boats & chopper runs) security, nurses, Dr's, etc... I don't want to mention all the resources here ...
5. Imagine oil price at First Oil date ( FOD) is $71/barrel ( current price for Bonny light) and the facility produces 70,000/day aftrr ramp up
6. In one day you will make a gross value of circa: $4,970 000
7. In one month (Average of 30 days): $149,100,000
8. In One year the investment will yield : $1,789,200,000 (Gross....). This is already more than the $1.5bn (assuming the interest was already a part of that capital).
9. I'm sure you are licking your lips now....so imagine you need to slash 40% to pay your chino lenders.. that will be $715,680,000 in the 1st year
8. Say you pay another 40% in the 2nd year that go be : $1,431,360,000( you never nearly pay off the loan be dat? ( and because you're paying short term, you can negotiate low interest rates too)
9. Imagine how much Lagos state can make and reinvest in infrastructure, manufacturing, jobs creation, medical research, healthcare, subsidised housing, good and safe roads( crimes will reduce if you invest in people and keep them busy while able to provide for their needs and for families too since y'all live in a "black tax" society....and to top it all the field live for the reservoir and facilities is designed for 15-20 years .....tell me wetin $1.5 bn no fit do?.....I rest my case...wetin illiterate like me sabi sef

Criksus:
What's the essence of this when the common man cannot afford it? It's still the common man that will suffer for this.

Everything is not for the common man.
Must the essence of everything be about your poverty?

Saying what is the essence.

So if a poor man can't afford a premium property it's shouldn't be developed?

CCECC is a Chinese construction company. That property is a private property, it is built by people like you who don't have too heads.

It's so annoying seeing people who just go around acting like the rich owe you anything

The rich should just pack themselves there and leave Surulere for us .

Big money people spenders chased us from Surulere to Ago Palace, from Ago to Bucknor . From Bucknor to Ijegun , Ijedodo , Abaranje. Now , at these remote areas a two bedroom flat is more than 1m

They won't rest untill they chase us out of Lagos.

I know this place, close to banana island

Do you know that in structures like this, people spend as much as 20m for 2 bedroom apartment in it?

nurudeen181:
Do you know that in structures like this, people spend as much as 20m for 2 bedroom apartment in it?

Not too expensive for even folks that work hourly in America, the problem is the lagoon behind that building stinks to high heaven. The building might collapse one day because it is just behind the collapsed tall building in Ikoyi. I don’t know what efforts the Chinese structural engineers put in place before erecting such edifice.

Ekaka14:
My brother. When una dey call all these big, big money untop of one shinny "liability" wey politicians dey take launder money in the name of high rise building ...e dey make my blood dey hot.....e come be like say this boju-boju wey dem dey do us for that Country no dey finish sef...🤔

Let me tickle you a little, a responsible, honest , transparent and smart government will invest that money ($1.5bn) in Oil/gas and will pay off the loan in about 2.5 years post production if the agreement is start with production sharing formula where Lagos state system about 40% to the Chinese in the first year from First Oil date, then another 40% in the 2nd year and 20% in the mid 3rd year...let me explain!

@$1.5bn lagos state can enter a deal with a local deepwater offshore production company to develop
1. A deep water subsea production field with about 10 producing & Water injection wells
2. Tieback about 12km subsea Pipelines & Risers to an existing production platform with capacity to receive some extra 70,000bbl/day production.
3. Install umbilicals, production manifolds, 10k subsea trees, Sleds, jumpers all the necessary subsea jewelries and pull in / tieback to the spare capacity Host facility ( Production platform or an FPSO).
4. Part of that money will cover mobilization of installation vessels spreads equipped with Many local technical resources, welders, painters...RoV technicians, Engineers, marine crew, catering, logistics ( crew boats, supply boats & chopper runs) security, nurses, Dr's, etc... I don't want to mention all the resources here ...
5. Imagine oil price at First Oil date ( FOD) is $71/barrel ( current price for Bonny light) and the facility produces 70,000/day aftrr ramp up
6. In one day you will make a gross value of circa: $4,970 000
7. In one month (Average of 30 days): $149,100,000
8. In One year the investment will yield : $1,789,200,000 (Gross....). This is already more than the $1.5bn (assuming the interest was already a part of that capital).
9. I'm sure you are licking your lips now....so imagine you need to slash 40% to pay your chino lenders.. that will be $715,680,000 in the 1st year
8. Say you pay another 40% in the 2nd year that go be : $1,431,360,000( you never nearly pay off the loan be dat? ( and because you're paying short term, you can negotiate low interest rates too)
9. Imagine how much Lagos state can make and reinvest in infrastructure, manufacturing, jobs creation, medical research, healthcare, subsidised housing, good and safe roads( crimes will reduce if you invest in people and keep them busy while able to provide for their needs and for families too since y'all live in a "black tax" society....and to top it all the field live for the reservoir and facilities is designed for 15-20 years .....tell me wetin $1.5 bn no fit do?.....I rest my case...wetin illiterate like me sabi sef

With all due respect, what you wrote here is nonsense, because the project is not owned by the government, but by private owners—you cannot tell me or anyone what to do with their money. Besides this, your assumptions are littered with too much ignorance.

hafeeanubasy:
Or being built and developed for us by Onaheze Ndigbo cooperative Society

ohaneze provided the funds.

lexy2014:
Should?

initially, you said "will".

how are you now saying "should"?

you mentioned "jobs and contractors" and not "direct and indirect".

Can you please tell me how many jobs and contractors that will benefit from it?

Common sense should tell you its an average and its not fixed---you can look up on the internet to see the variations in total jobs created across projects of similar size. Its a fact that it will create but the total jobs cannot be ascertained on the project is completed. Jobs can either be direct or indirect ---and you can also have independent contractors---again use the internet.

mainkendo:
This is beautiful. We need more of this

There are several under construction in Ikoyi right now. I think most people don't appreciate how much private wealth and financial energy is concentrated in Lagos. It will only get better.

Nkl4u:
Only for the super rich/wealthy

You expect the poor to be living there? Can even average Britons afford to buy property in Westminster today or Americans purchase in the Hamptons? Ikoyi is for the very wealthy. Nothing wrong with that.

onajo2000:
Everybody they claimed lagos

NwOSU, should I rather claim to come from Anambala when I’m from Lagos? How is it my fault if you are not proud of your Osu heritage? 🤣🤣🤣🤣 see how my state of origin Dey cause some people pain🤣🤣

Melezenawii:
https://x.com/Mr_JAGs/status/1975962152231182706

UBA Bank fire comes to mind

Criksus:
What's the essence of this when the common man cannot afford it? It's still the common man that will suffer for this.

You have poor man's mentality, detrimental to your ability to succeed, but you don't know this.

How will the common man "suffer for this" when it is a privately-funded project targeted at wealthy Nigerians in one of the wealthiest areas in Nigeria?

It is like saying common Ney Yorkers will "suffer for this" if a similar project is rising up in Manhattan.

When you hate anything for the wealthy and always speak of "common man" it means, unconsciously, you never wish to be wealthy or have what legitimate wealth brings since even people poor today , if well-adjusted, understand they can be wealthy tomorrow.

The saying "don't hate, appreciate" is an example of letting good things inspire you, so you too may gain/achieve them, rather than hating on anything good or anyone wealth/successful.

hafeeanubasy:
Or being built and developed for us by Onaheze Ndigbo cooperative Society

The coastal Road of fraud is giving birth to many luxury condos and apartments...meanwhile Lagos cannot evacuate refuse......ronu idea of development is still a mystery to me!

There are lots of skyscrapers springing up on the island these days....ikoyi, VI, lekki.

The mainland cities like Gbagada, Yaba and Surulere should be getting prepared to witness this in about 5 years from now!

By then, many residential buildings in those areas will give way for the development. And Ogun State will benefit more from the spillover.

Just that their preparation, in terms of infrastructure, to accommodate all these has not even started.

lebete3000:
UBA Bank fire comes to mind

The UBA building is old and probably not well -maintained. This will likely have state-of the-art automatic sprinkler system and an annual service charge that will probably be more than 10 million Naira annually ensuring maintenance is too notch..

lionshare:
Common sense should tell you its an average and its not fixed---you can look up on the internet to see the variations in total jobs created across projects of similar size. Its a fact that it will create but the total jobs cannot be ascertained on the project is completed. Jobs can either be direct or indirect ---and you can also have independent contractors---again use the internet.

that is not what I asked you.

how come you cannot use this same commonsense and internet to answer my questions based on your earlier post?

lionshare:
You’re being shortsighted—do you know how many jobs and contractors that’ll benefit from it? /quote]

[quote author=lionshare post=137062861]On the average a $1.5B building project should create over 3000 jobs direct & indirect.

Should?

initially, you said "will".

how are you now saying "should"?

you mentioned "jobs and contractors" and not "direct and indirect".

Can you please tell me how many jobs and contractors that will benefit from it?

Criksus:
What's the essence of this when the common man cannot afford it? It's still the common man that will suffer for this.

It is not for the common man. You Can't tell the rich how to spend their money.

yemre:
There are lots of skyscrapers springing up on the island these days....ikoyi, VI, lekki.

The mainland cities like Gbagada, Yaba and Surulere should be getting prepared to witness this in about 5 years from now!

By then, many residential buildings in those areas will give way for the development. And Ogun State will benefit more from the spillover.

Just that their preparation, in terms of infrastructure, to accommodate all these has not even started.

Great post. I am a fan of architecture and love nothing better than seeing beautiful buildings rise up and planned areas develop.

Your talk about Ogun show's you're up to speed with naturally direction financial , residential and investment energy will flow towards from Lagos.

In fact I am always pushing my friend abroad to buy plots at Obasanjo Hilltop residence in Abeokuta, while they are still available, because the place is a decent compromise of modernity, infrastructure, affordability and security.

From there, with presence on ground, they can prepare for Ogun State really taking off to benefit from huge inflow of FDI and greater industrialisation in the State in the near future which is 💯% inevitable.

famouscargo4u:
It is not for the common man. You Can't tell the rich how to spend their money.

Na wa bro. I don't get people like that dude. Legitimately successful people in Nigeria deserve whatever they have because doing business in Nigeria is very difficult.

I can confirm this first hand. The culture of corruption is ingrained and everywhere with government offices and parastatals being the worst.

If you a re unfortunate enough to need them be ready to be extorted at all level or risk them frustrating and harming your business.

Even with private businesses retailing products, be ready for virtually all your staff to be crooks.

It takes balls, innovation, energy, can-do spirit and huge people management skills (perhaps the most important quality needed) to succeed in Nigeria.

Even those from overseas who would be buying apartments in that building would have worked hard to be able to afford it.

Legitimately successful people deserve luxuries their wealth buys them. What the wealthy own and how they live should inspire ordinary Nigerians to double their hussle, acquire more skills, remain ambitious and not give up.

Ekaka14:
My brother. When una dey call all these big, big money untop of one shinny "liability" wey politicians dey take launder money in the name of high rise building ...e dey make my blood dey hot.....e come be like say this boju-boju wey dem dey do us for that Country no dey finish sef...🤔

Let me tickle you a little, a responsible, honest , transparent and smart government will invest that money ($1.5bn) in Oil/gas and will pay off the loan in about 2.5 years post production if the agreement is start with production sharing formula where Lagos state system about 40% to the Chinese in the first year from First Oil date, then another 40% in the 2nd year and 20% in the mid 3rd year...let me explain!

This is a completely private project so what necessitates your talk suggesting alternatives the Government can spend the project money on when it is not Government money being used on the project?

You even ungraciously overstep boundaries , with your misplaced anger and frustration,mocking government saying " a responsible, honest , transparent and smart government will invest that money ($1.5bn) in Oil/gas".

What has a 100% private property development project got to do with the Nigerian Government for it to then be taking flack from you and others?

To me, many of your type of responses just indicate how too many average Nigerians now have the mentality wealth and the wealthy are bad because they don't have the former and believe they can never be the later.

They therefore prefer to criminalise both.

WizardOfNG:
Na wa bro. I don't get people like that dude. Legitimately successful people in Nigeria deserve whatever they have because doing business in Nigeria is very difficult.

I can confirm this first hand. The culture of corruption is ingrained and everywhere with government offices and parastatals being the worst.

If you a re unfortunate enough to need them be ready to be extorted at all level or risk them frustrating and harming your business.

Even with private businesses retailing products, be ready for virtually all your staff to be crooks.

It takes balls, innovation, energy, can-do spirit and huge people management skills (perhaps the most important quality needed) to succeed in Nigeria.

Even those from overseas who would be buying apartments in that building would have worked hard to be able to afford it.

Legitimately successful people deserve luxuries their wealth buys them. What the wealthy own and how they live should inspire ordinary Nigerians to double their hussle, acquire more skills, remain ambitious and not give up.

Their quality of thinking and education leaves so much to be desired — something everyone should be happy about, because these types of projects will attract more people with significant disposable income to live, work, and seek to earn here — which means more opportunities, businesses, and jobs will be created, even for the poorer folks.

lionshare:
Their quality of thinking and education leaves so much to be desired — something everyone should be happy about, because these types of projects will attract more people with significant disposable income to live, work, and seek to earn here — which means more opportunities, businesses, and jobs will be created, even for the poorer folks.

Absolutely. Projects like this create multi-level opportunities that aren't even directly related to the Property developers.

I don't understand why some wish to paint these luxury projects as bad or unneeded when the fact that they are entirely private ventures mean they do not come as an opportunity cost to anything else.

This project, for example, does not stop any Government building homes for the poor.

I personally provide a balance on this sort of thread so that Nigerians who can still think and are decent should see need to reign in their routinely negative mindset which damages mental health and positive ambition/inspiration to do and become more in life.

Criksus:
What's the essence of this when the common man cannot afford it? It's still the common man that will suffer for this.

Why are you envious of the rich? Was that building done with government money or private money? For people like you Dangote, Otedola and others shouldn't exist because of the poor. Is that how Americans beef their rich people - Ellon Musk, Mark Zuckerberg, Warren Buffet, etc. Note as you celebrate the rich, same comes your way.

lionshare:
With all due respect, what you wrote here is nonsense, because the project is not owned by the government, but by private owners—you cannot tell me or anyone what to do with their money. Besides this, your assumptions are littered with too much ignorance.

Its sad some people still think building average luxury apartments that nobody within the country can afford to live in and neither has the power or luxury level to pull foreign investment like dubai is the way to go.

Dubai model is more organised and robust than building luxury apartments all over the place.

Newyork real estate is promoted and boosted by the Newyork business climate, cosmopolitan setup and great economy.

Here we are just wasting money or probably laundering money who knows. Eko Atlantic is there gradually turning to a ghost town filled with luxury apartments but no attraction or business..

lexy2014:
which one have you afforded so far?

Even if I show you, you will not believe because people don't buy properties in your family

Good

SlavaUkraini:
Even if I show you, you will not believe because people don't buy properties in your family

can you show me where you were asked to show me anything?

which one have you afforded so far?

jaxxy:
Its sad some people still think building average luxury apartments that nobody within the country can afford to live in and neither has the power or luxury level to pull foreign investment like dubai is the way to go.

Dubai model is more organised and robust than building luxury apartments all over the place.

Newyork real estate is promoted and boosted by the Newyork business climate, cosmopolitan setup and great economy.

Here we are just wasting money or probably laundering money who knows. Eko Atlantic is there gradually turning to a ghost town filled with luxury apartments but no attraction or business..

How can an educated person say this? It's like saying, 'Why should anyone sell luxury cars in Nigeria, since the vast majority earn less than $1,000 per annum?' Does that make sense to you?