₦airaland Forum

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If you’re looking for some crazy real estate trivia, you’ve come to the right place.

These interesting tidbits were a lot of fun to put together, and they ended up being quite the hit on social media – so in case you missed these original posts when they first hit the scene, hopefully, you’ll get a kick out of them right here, right now. Enjoy!

Culled from Retipster dot com

“Find out where the people are going and buy the land before they get there.” ~William Penn Adair

Everyone wants a piece of land. It’s the only sure investment. It can never depreciate like a car or a washing machine. Land will double its value in ten years or in less than that. Land is going up every day.” -SAM SHEPARD, Curse of the Starving Class

“Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.”
-Theodore Roosevelt

“If you don’t own a home, buy one. If you own a home, buy another one. If you own two homes, buy a third. And, lend your relatives the money to buy a home.”
John Paulson, investor and multi-billionaire

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

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

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

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

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

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

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

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

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

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

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

https://www.youtube.com/watch?v=_IUsrXyZ8n8

Real Estate is an imperishable asset ever increasing in value. Don’t wait to buy land but buy land and wait, you can never go wrong investing in real estates.

Flourish City, Lagos In Oshoroko Town, LF2 Ibeju Lekki LGA, Lagos State

TITLE : C OF O

OUTRIGHT PRICE :
N3,375,000 – 300 SQM

12 MONTH NEW PRICE
N3,750,000 – 300 SQM

ESTATE FEATURES

Good Road Network
Street Light
Gardens & Landscaping
Good Drainage
Gated and Secured Environs.
Quick Allocation
NEIGHBOURHOOD

*. Lekki free trade zone
* Lekki Seaport
*. Pan Atlantic University
* La Campagne Tropicana beach resort


https://www.youtube.com/watch?v=AV0WEFuEFMM

*Site Inspection Takes Place Every Day.
Mondays – Saturdays
Time : 10am & 1pm.

For Enquiries
CALL Victor Eze on 08158961762 or 08092724970

PS: The value of this property appreciates daily. Grab Yours Now! Before it’s off the market!

“Everyone wants a piece of land. It’s the only sure investment. It can never depreciate like a car or a washing machine. Land will double its value in ten years or in less than that. Land is going up every day.” -SAM SHEPARD, Curse of the Starving Class

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

“If you don’t own a home, buy one. If you own a home, buy another one. If you own two homes, buy a third. And, lend your relatives the money to buy a home.”
John Paulson, investor and multi-billionaire

As part of the resolve of the Lagos State Government to aid acceleration and development of infrastructure in the State through the Public-Private Partnership arrangement, the Office of Public-Private Partnerships (OPPP), in conjunction with Messrs FBT Coral Estate Ltd, is set to redevelop the Makoko/Ilaje Waterfront into a mixed-use Modern and Urban Estate.

Speaking on the planned project on Wednesday in Ikeja, the Director-General, Mr. Ope George, stated that the scheme will provide for the housing needs (residential and commercial) as well as public infrastructure for residents of Lagos State, particularly those on the Makoko/Ilaje axis.

While noting that the 54.58 Hectares of land which will be reclaimed by the State Government would provide alternative accommodation to the Makoko/Ilaje slum, George stated that the new Makoko Ilaje Estate would consist of infrastructure such as beautiful Landscape, Recreational Centres, Hospitals, Schools, Water Plant Sewage System Treatment, Electricity, Fuel Station and Hotels among others.

He maintained that it is in line with its mandate and conformity with the T.H.E.M.E.S agenda of the present administration that the Lagos State Government, through the PPP, is set to embark on rapid delivery of infrastructure across Lagos metropolis.

Recall that the Office of Public-Private Partnerships was set up to accelerate, develop and deliver Public infrastructure to the good people of Lagos State.

LAGOS CALLS FOR PRIVATE SECTOR COLLABORATION IN MEAT, FISH VALUE CHAINS

The Lagos State Government has called for private sector investment and collaboration in its agriculture sector, particularly in the Red Meat Value Chain, Artisanal Fisheries and Livestock Feed Mills.

The State Commissioner for Agriculture, Ms. Abisola Olusanya, who made the call in Lagos over the weekend, explained that this is in line with the State Government’s five-year strategic agriculture roadmap.

She noted that the State Government has identified many areas of investment opportunities for the private sector participants, particularly in the three value chains, hence the need for collaboration.

According to her, this partnership would increase production in the value chains, stimulate jobs across the value chains, standardise operations in the value chains as well as enhance the GDP of the State.

In her words: “In line with the State’s five-year strategic agriculture roadmap, where it has identified many areas of investment opportunities for the private sector participants, Lagos State is set to explore private sector collaboration in its agriculture sector, particularly the Red Meat Value Chain, Artisanal Fisheries, as well as Livestock Feed Mills for possible partnerships with private investors and entrepreneurs with the objective to stimulate and encourage more public-private partnerships in the three value chains”.

“We are the largest market Sub-Saharan Africa has. With over 22 million in terms of population, we consume food well worth over N5tn annually and over N8bn on a monthly basis. What the administration of Mr. Babajide Sanwo-Olu is focused on is in terms of enforcing a market structure or bringing together a market structure that ensures a transformation in the food system; an Expression of Interest advertisement would be rolled out from next week calling on interested investors”, the Commissioner noted.

She stated that in the red meat sector, the State consumes over 6,000 herds of cattle daily and over 1.8 million herds of cattle annually, which is 50% of the red meat consumed in Nigeria as a whole, adding that there exists a lot of opportunities to be tapped into in the red meat sector.

Olusanya pointed out that possible areas of collaboration in the red meat value chain are animal identification and traceability, the establishment of feedlot and fattening centres, creation of a better logistics solution system, as well as the creation of a better system of running abattoirs in a standard way to meet up with global best practices such that more hygienic slaughtering areas are the norms rather than the exceptions.

Other areas of possible collaboration, according to her, include setting up standardised meat shops, proper management of animal waste, biogas production and transportation of the meat to the final consumers in a wholesome and hygienic way and condition.

The Commissioner described the transactional value for cattle alone in Lagos to be worth over N328bn, adding that when the red meat transformation agenda comes fully into play, it would help the State Government eliminate logistics costs of transporting cattle.

She stated further that Lagos is working on harnessing sectors where it has comparative advantage to further grow its economy with emphasis on the artisanal fisheries sector.

Olusanya noted that a lot more had to be done around the livestock sector as well, to draw in more private sector participants who can play on a commercial scale and ensure that with regards to sustainability, Lagos is more food secure.

make the call now

Make the call now. its important

DO THE MATHS
Behind the hype, is Dangote’s refinery a game changer?


In December 2019, an ambitious refinery project in the remote Ibeju-Lekki suburb of Lagos, Nigeria, took delivery of the world’s largest single crude distillation column, to much fanfare.


After years of hopes and delays, Aliko Dangote’s 650,000 barrels a day refinery – one of the world’s second biggest – is due to start operations in just over a year’s time.

Government officials and citizens are united in the hope that the Dangote refinery complex, which will also produce fertilizer and petrochemicals will do for Nigeria’s stalled economy something comparable to what signing a 26 year-old Cristiano Ronaldo would do for a premier league team facing relegation.

The Nigerian government’s well-documented import substitution policy direction has Dangote Refinery front and centre of it.

Once onstream , the refinery on the coast of Lagos is expected to reverse the decades-old system of exporting crude oil and importing refined petroleum products such as gasoline, diesel and lubricating oil.

Forex savings
This should ease pressure on the naira by freeing up some $8.7bn used to import refined petroleum products each year as well as create jobs in services and manufacturing around the project.

The real estate boom around the refinery points to the optimism about the project. It is meant to be a catalyst for local development plans in the Ibeju-Lekki area such as a new international airport, a deep sea port and a free trade zone.

Despite the positive sentiment towards the refinery however, few people have tried to calculate the measurable impact of the refinery on Nigeria’s economy and the Ibeju-Lekki area in particular.

How far will the refinery cut Nigeria’s fuel import bill and boost exports? Beyond the cash, what will be the effects of siting the new nexus of Nigeria’s downstream petroleum industry in a fast-growing and densely populated area of the country’s commercial capital?


Is the refinery a cure-all?
To understand why Dangote’s Refinery may not deliver the hoped for structural changes, we must first run through the basic figures that tell the story of Nigeria’s trade balance and its internal petroleum consumption:

According to the Nigerian National Petroleum Corporation (NNPC), the country’s daily petrol consumption comes to 51 million litres.
Using the standard measure of 47% petroleum motor spirit (PMS) per 159-litre barrel of crude oil according to the U.S. Department of Energy,
This means that Dangote’s Refinery must process about 471,500bpd to satisfy Nigeria’s internal demand.
What happens to export earnings?

The problem is that if the feedstock for Dangote’s refinery comes from local oil production, as the chief of the state oil company has promised, then it will eat into Nigeria’s export cargoes and revenues.

Nigeria’s 2019 crude oil production averaged 2,037 million barrels a day (b/d)
The 2019 average international crude oil price was $64 per barrel.
If the refinery satisfies Nigeria’s internal demand, it would save over $8.7bn. That’s how much the country spent on fuel imports in 2017.
That sounds great, but what about the opportunity cost? By allocating over 470,000 b/d of locally-produced crude oil to the refinery, the state oil company is losing about $11bn of forex earnings a year. That’s almost a quarter of the country’s current forex earnings. Nigeria would be losing $11bn to save $8.7bn.

That’s not the end of the story

If local refining output meets all local demand, Nigeria will no longer need it’s often opaque and costly fuel subsidies.

Ending that system would mean that the estimated $3.85bn paid to subsidise fuel in 2019 would be saved.
Adding the import savings and the subsidy savings would mean total savings of $12.55bn – slightly over the estimated $11bn of lost forex earnings.
Two difficult roads to a refinery revolution
There are still policy options which could mean the Dangote refinery would radically change the state’s finances.

The Dangote Refinery could pay for its 650,000 b/d feedstock from Nigeria at the international market price and in foreign exchange.

That would mean it would be paying over $15bn a year in raw material costs alone.

That exceeds the stated construction costs of the refinery and is more than the net worth of Dangote, still the richest man in Africa.

The other option is more radical still and would require a determined policy shift in government.

Nigeria could boost its crude oil production by 650,000 b/d, supplying all the increase to the Dangote refinery.
Then it could export all 2.03mn b/d of crude to its foreign customers and retain the forex without having to budget for fuel imports.
This would be within the OPEC rules – the cartel’s limits on production do not include crude allocated to local refining nor do they govern exports of refined products.
This would allow Nigeria to use all its OPEC quota for exports and at the same time meet all its local needs for petroleum products, then would be able to export over 100,000 b/d of refined products for forex to the region and beyond.

That would be a game changer. And would be in a different league from the estimated savings of $1.5bn a year under the current financial structure.

The tough question is whether Nigeria could possibly ramp up local crude production by 650,0000 over the next five years.

No question that it would be technically possible. The NPPC insist its medium-term target is 3mn b/d production.

But while Nigeria has the reserves to sustain 4mn b/d but it hasn’t made the necessary investments. Lining up the deals and the new partners – whether China, India or western IOCs such as Shell or Exxon – could take five years alone.

It is also highly significant that there has been no public discussion of a credible way for Nigeria to boost local production to maximise the benefits of the refinery project.

How will Dangote make money from the refinery?
In the absence of any discussion about coordinating strategy, we are thrown back on the tricky but vital question for Dangote – how can the refinery make a profit?

It may be that the refinery could end up being subsidised by the government – an accusation that has trailed Dangote’s rise to business supremacy.

For example, if the refinery is guaranteed 650,000 barrels per day at a fixed and favourable (naira) price, there is nothing stopping it from satisfying the local consumption quota, then selling the extra circa 179,000 bpd worth of product to buyers anywhere in the world – at higher international prices.

In other words, Nigeria could end up exchanging a corrupt and opaque fuel subsidy programme that purports to assist ordinary Nigerians with a hidden corporate subsidy that assists a multibillion dollar business entity.

And that is just one half of the bigger picture.

Ibeju -Lekki’s Infrastructure Problem – Another Elephant in the Room
Speaking at the Offshore Trading Logistics Expo in October 2019, Dangote Group Executive Director, Devakumar Edwin said there was no plan for refined products to be moved to market around the country by rail.

According to him, a transport solution made up of “shuttle boats” and expanded road networks would do the trick.

This implies the existing traffic nightmare and safety hazard – thousands of 40-ton 12-wheeler road tankers loaded with 33,000 litres of petrol – will simply be moved from Apapa Port and Port Harcourt to the Lekki corridor, on the eastern flank of Lagos.

The Lagos State government says it has plans to build a “7th Axial Road” linking Ibeju-Lekki to the Benin-Sagamu Expressway, so as to bypass the residential Lekki-Epe corridor.

The new road could take more than a decade if it ever gets done.

For example, 12 years into what was supposed to be a 4-year project, only 30KM of the 49.4km Lekki-Epe expressway has been completed.
As at 2013, 15KM was completed at a total cost of about N50bn ($423m), whereas the entire project was initially projected to cost $460 million (54.2bn), meaning that as much as 70 percent of the initially proposed project sum was spent constructing only 30 percent of the project.
Further information on money spent on the road since 2014 is obscure. Lagos State has refused to open its books to scrutiny, even after a 2017 Appeal Court ruling held that all Nigerian states must abide by the provisions of the Freedom of Information Act. Exactly how much it has spent on the still-uncompleted expressway is anyone’s guess.