₦airaland Forum

BRAND NEW 4-BR TERRACE DUPLEX FOR SALE @ SANGOTEDO, LAGOS

PROPERTY LOCATION
Within Pearl Nuga Park Estate along Monastery Road, Sangotedo, 8 minutes drive from Lagos Business School, and within walking distance of Novare Lekki Mall. The estate is already occupied and is managed by a vibrant Residents/Owners Association. Neighbouring estates include Crown estate, Emperor estate and Diamond estate.

DESCRIPTION
The Terrace house consists of 3 bedrooms and a maid's room all ensuite and with water heaters and shower cubicles; a sitting room with dining area, a kitchen and a store, a guest toilet and parking space for 2 cars. It has it's own borehole with 2 storage tanks.

PRICING
Price of the house is N28.5m (slightly negotiable).

CONTACT
Telephone: 08164502125.

QUOTE

“A house is made with walls and beams; A home is built with love and dreams.”

-- Ralph Waldo Emerson

Good day, dear Nairalanders...

Available...

NEW 4-BEDROOM TERRACE DUPLEX FOR SALE AT SANGOTEDO, LAGOS

PROPERTY LOCATION
Within Pearl Nuga Park Estate along Monastery Road, Sangotedo, 8 minutes drive from Lagos Business School, and within walking distance of Novare Lekki Mall. The estate is already occupied and is managed by a vibrant Residents/Owners Association. Neighbouring estates include Crown estate, Emperor estate and Diamond estate.

DESCRIPTION
The Terrace house consists of 3 bedrooms and a maid's room all ensuite and with water heaters and shower cubicles; a sitting room with dining area, a kitchen and a store, a guest toilet and parking space for 2 cars. It has it's own borehole with 2 storage tanks.

PRICING
Price of the house is N28.5m (slightly negotiable).

CONTACT
Telephone: 08164502125.

QUOTE

Still available...call for inspection and negotiation.

Call 08164502125 for more information.

Build your wealth; invest in a house of your own.

Please provide more details of the precise location (e.g. if it is within an estate/neighbouring landmarks/institutions) and also confirm if the price is negotiable.

20 WAYS TO INVEST IN REAL ESTATE

1. HOME OWNERSHIP
Buy or build a house. Becoming a house owner is one of the best investments you can ever make.

2. REAL ESTATE FLIPPING
This involves buying land or buildings for later resale at a higher price.

3. RENTALS
Renting of land or buildings to tenants for monthly, quarterly or annual rent.

4. REAL ESTATE ARBITRAGE
You purchase a property and sell it immediately at a higher price.

5. DEVELOPMENT
Real estate development ranges from the renovation and re-lease of existing buildings, to the purchase of raw land and later sale of developed land to others.

6. LEASING
Just like renting but with more binding contracts and usually for longer duration.

7. COOPERATIVE
Join a Real Estate Cooperative and get access to purchase land or houses at concessionary rates. You can also get access to loans at reduced interest rates e.g, the National Housing Fund (NHF).

8. CROWD FUNDING
Many people pool their funds to invest in a wide variety of properties without having to deal with mortgage brokers, real estate agents or contractors.

9. REAL ESTATE INVESTMENT TRUSTS (REITs)
These are companies that own/operate income-producing real estate. You can invest by buying their shares.

10. REAL ESTATE MUTUAL FUNDS
Are a type of mutual fund that primarily focuses on investing in securities offered by public real estate companies. You can invest in mutual funds.

11. ETFs
Exchange-traded funds (ETFs) focused on the real estate sector pool together real estate securities in order to offer customers broad exposure to the sector.

12. RENT-TO-OWN
You sign a contract to rent a home for a predetermined period of time, with the option to purchase the home once that time expires. It is also possible to add the purchase cost onto the rent such that no additional payment will be required after the tenancy period.

13. FIX-TO-FLIP
Buy a property, fix it, and sell it for a profit.

14. VACATION RENTALS
Get a house in a good location, and you can make more from a few vacation tenants than from year-round tenants elsewhere.

15. HOSTELS
Many higher institutions in Nigeria have a shortage of student housing. This presents an opportunity to buy hostels and rent to students.

16. USE LODGING APPS e.g. AIRBNB
Airbnb is a good way for property owners to supplement their income.

17. SHOP FLIPPING
Many commercial properties are built on an off-plan basis, with the initial buyers getting very good prices. You can buy off-plan and then sell for a profit once the buildings are completed.

18. USE ONLINE REAL ESTATE PLATFORMS
Examples include Fundrise and RealtyShares.

19. PARTNERSHIPS
You can pool funds with family members, friends, church members or work colleagues to invest in real estate that you may not individually be able to afford.

20. ESTATE SERVICES
This is where you provide services to built up estates e.g. Security, Cleaning, Gardening, Waste Disposal etc.

Invest today for a better future.

Still available.

CONTACT
Telephone: 08164502125.

Vice President Yemi Osinbajo on Wednesday at the State House Banquet Hall, Abuja, proposed a toast to the Socialist Republic of Vietnam and the Federal Republic of Nigeria. The VP’s toast was proposed at a dinner organised in honour of the Deputy Prime Minister of the Socialist Republic of Vietnam, Prof. Vuong Hue.

Osinbajo, had earlier, at the Presidential Villa, received Hue and his team and witnessed the signing and exchange of the Memorandum of Understanding on waiver of visa requirements for holders of valid diplomatic and official passports. The vice president, during the toast said that Hue was his long-lost brother as both of them were born in the same year and same month– March, 1957. Osinbajo added that he and Hue were both lecturers and professors.

He said that Nigeria and Vietnam had maintained long standing diplomatic relations since 1976 but no high-level engagements. “So, this visit is very significant because we will be looking at the possibility of setting up a bilateral commission between Vietnam and Nigeria so that we can concretise the existing areas of cooperation that we discussed earlier today. I am confident that we can build on the successes recorded in the past while we work on boosting cooperation in business, trade and investment and social and cultural relationship between both countries.

“We agreed on promoting a friendly football match between Vietnam and Nigeria. The Super Eagles and the Vietnamese national team and as well the female national team of Vietnam and our Super Falcons. First toast to the Socialist Republic of Vietnam; long live the Socialist Republic of Vietnam; the next will be the Federal Republic of Nigeria, long live the Federal Republic of Nigeria,’’ he said.

In his response, Hue said that Nigeria and Vietnam had a lot of things in common. He said that aside boosting economic and trade ties, there was need to enhance cultural relationship. Hue said that the Vietnamese national team was a strong side in Asia and that he was looking forward to a friendly match between both male and female national teams of both countries.

In his welcome address at the dinner, Minister of State for Foreign Affairs, Zubairu Dada, said that the Vietnamese delegation, led by Hue, had demonstrated willingness to strengthen relationship between Nigeria and Vietnam. He said that the delegation had the opportunity of meeting people in Nigeria, especially in the area of trade, commerce and investment.

“Indications are that their engagements are very fruitful and they are willing to take the relationship to the next level. On our part, we are, ready and willing to reciprocate; to pick up the challenge they have thrown to us. This evening, we, signed an agreement on waiving visa for people carrying diplomatic passports,” he said.

Dada said that the dinner was put together by the vice president to introduce the Vietnamese delegation to Nigerian cuisine.

SOURCE: https://punchng.com/nigeria-vietnam-agree-on-visa-waiver/

The Nigerian Automobile Association has alleged that there are two different regimes of duties being collected from them by the Nigeria Customs Service, a situation it says is against the rules of the World Trade Organisation.

The group, in a statement on Wednesday 30 October 2019 signed by its Secretary, Ademola Moshood, said this was discovered during one of the meetings between car dealers and the Customs held to address allegations of smuggling levelled against them. It said the two regimes of duties and the system of documentation were allowing corruption to thrive as well as causing distress to buyers of new vehicles in the country.

The association recalled that on September 29 this year, members of the Comptroller-General of the Customs’ strike force and officers attached to the Federal Operations Unit, Zone ‘A’, Ikeja, Lagos stormed the Berger auto market and other major car dealers’ premises in Lagos in search of smuggled vehicles and sealed the auto marts. It said this led to an engagement between some Customs officials and car dealers in the state.

“Subsequent meetings with dealerships revealed that the government’s agency had a system of documentation and two regimes of duties that create a fertile environment for corruption to thrive within its fold to the distress of buyers of new vehicles in the country. The Customs duty system is whimsical because it is not based on any known indices and certainly not based on the World Trade Organisation’s, which applies only duties determined as Freight on Board.”

The group stated that the price of a product sold by a manufacturer to a Nigerian buyer or any other country’s importer, also called FOB, was universal to every buyer of goods from the same manufacturer and could be used to calculate local duties in the destination country. It said if the quoted cost of the FOB was different, it must have been on account of accessories in the vehicles.

It said dealers who met with Customs officials after the September 29 shutdown were shocked to find that there were two sets of FOB in two different documents. It explained that one of the documents, entitled ‘National Valuation Database for Imported Motor Vehicles 2014-2019’ was believed to be baseless, as the dealers claimed it was contrived based on the whims and caprices of the NCS.

SOURCE: https://punchng.com/car-dealers-allege-customs-operating-two-duty-regimes/

Good morning dear Nairalanders.

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Solid minerals worth N90.33bn were exported between 2015 and 2017, the latest report by the Nigeria Extractive Industries Transparency Initiative has stated. Analysis of the report also showed that China emerged the biggest importer of Nigeria’s solid minerals in 2017.

The document, which was obtained in Abuja on Wednesday, gave the value of the solid minerals’ exports in 2015 as N1.94bn. This witnessed a leap to N11.16bn in 2016 and moved up to N77.23bn in 2017. “This is an indication that the solid minerals sector is steadily contributing to the federation’s export earnings but requires greater government attention,” NEITI stated in the report.

The report added that about 16.34 million metric tonnes of minerals valued at $29.90m was exported in 2017. It stated, “Nigeria’s total export was about N13.60tn with solid minerals contributing N77.23bn or 0.57% of total export in 2017.”

NEITI also stated, “The major destination of Nigeria’s exports during the year under review is China. The country accounted for 68% of total export value during the year.” Other destinations include Malaysia, Vietnam and India.

The report, however, observed that export data received from the Nigeria Customs Service include minerals not captured in the production data provided by the Mines Inspectorate Department. It also stated that the sector’s contribution to employment in 2017 was about 0.3% of Nigeria’s total employment, same as the figure recorded in 2016.

It affirmed that artisanal and small-scale miners currently dominated the sector, adding that while Nigeria’s gross revenue stood at N7.35tn in 2017, revenue specifically from the solid minerals sector represented only about 0.05%.

NEITI explained that the absence of an industry-specific fiscal regime made it difficult to tie revenue flows from the solid minerals industry to the Federation Account.

SOURCE: https://punchng.com/nigeria-exports-n90-33bn-solid-minerals-in-three-years/

Residents of Isheri Olofinmole area of Kara, Ogun State have abandoned their business, belongings, and homes after the community started experiencing serious flooding. The area used to have a thriving market which is now a shadow of itself, as traders have been forced to leave their means of livelihood and look for alternatives.

According to residents, the past administration of Ibikunle Amosun for 8 years failed to pay attention to the plight of community, as school children were not left out of this menace.

A Market leader who spoke with our correspondent disclosed that they had been facing difficulties for years without solution. She stated that they usually live up to their duties as residents, but that the government paid deaf ears to their sufferings after being elected.

Business owners also told us how the water had affected sales negatively, as buyers now preferred to go to other locations to buy goods because of the flooded area.

SOURCE: https://www.gist mania.com/talk/topic,404829.0.html

Good morning!

Still available...Call for inspection, negotiation and purchase: 08164502125.

QUOTE

Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.

-- Robert Kiyosaki

Good morning.

The United Nations’ Secretary-General, António Guterres, on Tuesday 29 October announced the appointment of the Managing Director, Nigerian Rural Electrification Agency, Damilola Ogunbiyi, as his Special Representative for Sustainable Energy for All and Co-Chair of United Nations-Energy.

In a statement made available to journalists, Guterres also welcomed the announcement by the Administrative Board of Sustainable Energy for All (SEforALL) that Ogunbiyi has been appointed Chief Executive Officer of SEforALL. With the development, Ogunbiyi succeeds Rachel Kyte of the United Kingdom as Special Representative, Co-Chair of United Nations-Energy, and CEO of SEforALL.

The statement read, “The Secretary-General expresses his gratitude to Ms. Kyte for her dedication and commitment to the United Nations, her achievements in accelerating universal energy access, and her leadership in advancing sustainable energy transition in the context of the Paris Agreement.

“Ms. Ogunbiyi brings extensive leadership experience and a track record of supporting energy access in Sub-Saharan Africa to these roles. She was the first woman to be appointed as Managing Director of the Nigerian Rural Electrification Agency. She is also responsible for implementing the Nigerian Off Grid Electrification Programme and successfully negotiating the Nigerian Electrification Project, to rapidly construct solar mini-grids and deploy solar home systems across Nigeria.

“She also developed the Energising Economics Initiative and Energising Education Programme, which provide sustainable and affordable off grid power solutions. Before joining the Federal Government of Nigeria, Ms. Ogunbiyi was the first woman to be appointed as the General Manager of the Lagos State Electricity Board, which is responsible for public lighting, independent power projects, and energy development serving millions of people across the State.

“Prior to this, she consulted for the United Kingdom Department for International Development on public-private partnerships.


SOURCE: https://punchng.com/un-sec-gen-appoints-nigerias-ogunbiyi-as-special-representative/

Keep the calls coming... 08164502125.

Donald Trump explains why he didn't inform House Speaker Nancy Pelosi in advance of US military raid on Al-Baghdadi.

US president Donald Trump has revealed he didn't inform House Speaker Nancy Pelosi or chairman of House intelligence committee, Adam Schiff, of his plans to attack ISIS leader Al Baghdadi in his Syria home.

On Sunday, Pelosi, who last month launched an impeachment inquiry on the US president, claimed Trump told the Russian government of plans to kill Baghdadi but didn't inform her or her colleagues, while Adam Schiff appeared on ABC network to reveal he wasn't told of plans to risk US military lives on foreign soil but he acknowledged Baghdadi's death is a win for America and the world.

It is customary for US presidents to inform congressional leaders before using US military power on foreign soil, but Trump has revealed he didn't inform them because he didn't want to harm US soldiers if the operation is leaked out to the media. According to Trump, Washington is now the home of media leaks, and he wanted to be sure that US military had left the ground after killing Baghdadi before informing congressional leaders.

"No, I didn't do that,' Trump said when a reporter Monday queried if he had shared plans of the raid with the House Speaker before it was carried out. I wanted to make sure this was kept secret. I didn't want to have men lost, and women. I don't want to have people lost,' the president added, claiming he told no one outside the circle of those involved in approving and organizing the operation.

In the early hours of Sunday morning –– U.S. Special Operations carried out a mission in Syria that resulted in the death of al-Baghdadi, the leader of ISIS. Al-Baghdadi while being pursued by military dogs, detonated his suicide vest, killing himself and three of his children, when he was cornered by U.S. forces at his village.

Trump in a photo of the situation room posted online was flanked by National Security Advisor Robert O'Brien, Vice President Mike Pence, Trump, Secretary of Defense Mark Esper and the Joint Chiefs of Staff U.S. Army General Mark Milley and Brig. General Marcus Evans while the Baghdadi operation occured.

"We have notified some, others are being notified now as I speak,' Trump told the room of reporters. 'We were going to notify them last night but we decided not to do that because Washington leaks like I've never seen before. There is no country in the world that leaks like we do. And Washington is a leaking machine and I told my people, we will not notify them until the – our great people are out. Not just in, but out,' Trump asserted.

'I don't want to have them greeted with fire power like you wouldn't believe. So we were able to get in and it was top secret. It was kept, there were no leaks or no nothing. The only people that knew were the few people I dealt with.'

Trump also admitted he took permission from Russia to use their airspace but he never let them know the specifics but Adam Schiff said that letting Democrats and Republicans in congress aware of such an attack is necessary incase something goes wrong or the Russians double-cross the US.

Russia treated us great, they opened up. We had to fly over certain Russia areas – Russia-held areas. Russia was great. Iraq was excellent. We really had great cooperation, and you have to understand, they didn't know what we were doing and where we were going exactly,' Trump said. 'But the ISIS fighters are hated as much by Russia and some of these other countries as they are by us.'

'We spoke to the Russians; we told them, 'We're coming in.' And they said, 'Thank you for telling us.' They were very good,' Trump said

"Had this escalated, had something gone wrong, had we gotten into a fire fight with the Russians, it's to the administration's advantage to be able to say, 'We informed Congress we were going in, they were aware of the risks, we at least gave them the chance to provide feedback. That wasn't done here. I think that's a mistake,' Schiff said to ABC news.

SOURCE: https://www.lindaikejisblog.com/2019/10/donald-trump-explains-why-he-didnt-inform-house-speaker-nancy-pelosi-in-advance-of-us-military-raid-on-al-baghdadi.html

The first 9 months of this year was not too good for Transcorp Plc, one of the leading conglomerates in Nigeria. On Tuesday 29 October, the company released its financial statements for the period ended September 30, 2019 and the numbers were not better than the same of last year.

Analysis done by Business Post showed that there were declines in both top line and bottom line numbers. In the period under review, revenue generated by the firm went down to N58.3 bn from N79.9 bn, while gross profit dropped to N27.0 bn from N37.0 bn.

This was despite trimming the cost of sales to N31.3 bn from N42.9 bn, with administrative expenses cut down to N10.6 bn from N11.6 bn. This was mainly because of reduction in staff costs, management and incentive fees, rents and rates as well as advertising. Though, director’s remuneration, electricity and diesel cost, bank charges, provision for bad debts and others increased during the period being reviewed.

According to the results, the company generated N710.4 mn as other income, better than the N542.1 mn in the first 9 months of 2018, which came from dividend income on equity securities, while it made N17.1 bn as operating profit, lower than the N25.9 bn Q3-2018.

Transcorp further stated that its finance cost increased to N10.2 bn from N6.6 bn. In the first 9 months of this year, Transcorp declared a profit before tax of N7.4 bn versus N17.7 bn in Q3-2018, while profit after tax dropped to N6.7 bn from N16.0 bn.

Recall that last week, the headquarters of Transcorp in Lagos was gutted by fire and the management assured its shareholders that no serious damage was done to the property, while no vital documents were destroyed.

SOURCE: https://businesspost.ng/economy/transcorp-suffers-huge-decline-in-revenue-profit/amp/

Still available.

CONTACT
Telephone: 08164502125.

The house is still available...call 08164502125 for inspection and negotiation.

The inscurity on the Abuja-Kaduna road has forced thousands of passengers to start using the train and raised the passenger volume on the railway by 270%. According to the Federal Government, the passenger traffic on the Abuja-Kaduna rail service has risen to 3,700 daily from its carrying capacity of 1,000 people.

The government also announced plans to commence a trial run of trains on the Lagos-Ibadan railway service in December and would be providing free rides to passengers.

The Minister of Transportation, Rotimi Amaechi, said on Monday that the increase in the Abuja-Kaduna railway service was due to the level of insecurity on the Abuja-Kaduna road. The minister noted that the high passenger volume on the route was why thousands of passengers were often found standing on the coaches while travelling, but noted that more coaches would soon be added on the route.

Amaechi said, “The reason we allowed standing on the Abuja-Kaduna train is the insecurity that has made it unbearable to insist on sitting. But once we get the next 10 coaches we are sending to Abuja-Kaduna, the situation where passengers stand inside our coaches will be reduced. Although it will not solve the problem of the 3,700 passengers, at least it will reduce the number of those who stand.”

He added, “The actual number of passengers that the service can take for the sitting capacity is about 1,000 plus, but we are carrying 3,700 people daily. So if you add 10 coaches of 84 passengers per coach, you will know that we are under pressure. We know that when the coaches come and we make it more regular the pressure will be reduced.”

Amaechi also noted that on November 8, 2019, the Federal Government would lay the foundation for the Kajola factory in Ogun State where locomotives, wagons and coaches would be constructed by Chinese firms at no cost to Nigeria.

On the trail run on the new Lagos-Ibadan rail, the minister said, “Our target is to start by November 30 this year, specifically from Ebute-Meta in Lagos to Ibadan in Oyo State.” He urged the contractor, China Civil Engineering Construction Corporation, to complete the minor stations on the Lagos-Ibadan railway before November 25.

“If I spend sleepless nights to sign approvals for you, I don’t want to hear you use rain as an excuse why you can’t deliver your job as engineers,” the minister told the CCECC officials.

Amaechi said more coaches would be deployed on the Lagos-Ibadan route before Christmas, adding that he would ensure that the free ride would commence during the Yuletide.

“I will struggle to make sure that before Christmas it happens,” he stated.

SOURCE: https://punchng.com/insecurity-abuja-kaduna-railway-passengers-rise-by-270/

Still available...Call 08164502125.

Chief Medical Director (CMD) of Federal Neuro Psychiatric Hospital in Maiduguri, the Borno State capital, Dr Ibrahim Wakawa, has said at least 50 million Nigerians are believed to be suffering from mental disorders. Wakawa alerted the nation to the problem 23 October 2019 at the unveiling of the Borno State Government Mental Health Strategic Implementation Plan in Maiduguri.

Represented by Dr Ibrahim Mshelia, a mental health consultant at the hospital, Wakawa attributed the nation’s high mental disorders burden to insurgency, lack of awareness and lack of health facilities to handle such cases.

The CMD said studies had shown that one among four Nigerians was suffering from mental or psychosocial, traumatic health problems. He explained that the hospital was providing healthcare services to about 30 million people in the Northeast and other regions in the country.

“At least, 60% of people attending primary health care have mental disorder. Effective treatment and management of mental health can be delivered in primary health care,” Wakawa said. The CMD hailed the government for setting up mechanism at making mental health affordable and accessible to all.

The Emergency Manager at the World Health Organisation (WHO) in Nigeria, Dr Owili Collins, said the organisation was working with the state and Federal governments to improve mental health through various interventions. Represented by Mr Isaac Bwatin, a WHO Mental Health Officer, Collings said the organisation had trained 154 primary healthcare workers on common signs of mental illness in order to provide humanitarian services to the persons displaced by Boko Haram insurgency. He noted that WHO had received grant from the European Union to upgrade and rehabilitate the Federal Neuro Psychiatric Hospital in Maiduguri to enhance quality of services to the people.

“WHO is working on a long-term plan with the Borno State and Federal governments to transform mental healthcare in the country through the implementation of the plan and interventions within the framework,” he said.
He regretted that the horror lost, uncertainty and experience related to displacement and loss of livelihood had made people to have mental health.

“The insurgency in the North-East has resulted large volume of populations to develop mental illness,” Collings said.

IOM Coordinator of Mental Health and Psychosocial Support sub-working group, Ms Deborah Magdalena, said the organisation had been supporting Nigeria since 2005. “IOM is committed to continue providing service in line with the framework to minimise the stigma and discrimination against persons affected by mental health as well as to promote prospect to human dignity,” she said.

Borno State Commissioner for Health and Humanitarian Services, Mr Salisu Kwaya-Bura, said the gesture was designed to provide mental service centres with a view to achieving basic healthcare services to all citizens in the state. Represented by the ministry’s Permanent Secretary, Mr Ibrahim Kidah, the commissioner said the state government had scaled up mental health since 2017.

“The implementation plan provides elaborate strategies with emphasis to integration of mental health service at all levels. Mental disorder, treatment and rehabilitation,” he said.

SOURCE: https://thenationonlineng.net/50m-nigerians-suffer-mental-disorder/

Good morning.