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After the demolition Traders at  the Abattoir Market in the Ojokoro Local Council Development Area were jolted on Monday morning when the LCDA demolished a section of the market. Many of them said they lost their wares while some explained that they had bought some of the stalls outright from the Ojokoro LCDA. According to some of the affected traders,  they had  yet to get to the market when the demolition team, in company with a detachment of police  from the Rapid Response Squad, arrived with a bulldozer. Those of them who were around said the demolition squad arrived around 8.30am, with the armed policemen taking positions at strategic points. The market located along the old Ota Road had become a heap of rubble when our correspondent got there at 12.00 noon. “They came around 8.30am and they started to demolish the market,” one of the affected traders, Mrs. Nike Bakare,  said. “Some of us had just arrived when we saw the policemen...

Two private investors, Messrs Rand Merchant Bank (RMB) and Standard Bank are raising the bar in commercial and retail property development, with the launch of an $182-million office complex project in Lagos. Christened, Wings, the  project is located along the waterfront of the upscale Ozumba Mbadiwe, Victoria Island, in Lagos. Designed by the firm of Stauch Vorter Architects, the A-grade high-rise office towers on Victoria Island,  will berth between Lagos Island and the Lekki Peninsula, may be completed and delivered on or before March 2016. RMB Westport, Nigeria, Oando Plc, Vante Property Asset management Services, Standard Bank, midwifed the ambitious project, which sod turning was done last week in Lagos.  To ensure the project is successful, both RMB and Stanbic IBTC have committed $100m development and long-term debt funding for the complex. At the sod turning ceremony, Chief Executive Officer, RMB Nigeria, Michael Larbie, said that the development rep...

Mind is the great lever of all things; human thought is the process by which human ends are ultimately answered – Daniel Webster It is no longer a secret that many great projects are the outcome of synergy of human, material and economic resources that are often scattered in different places but brought together by imaginative, creative and focused individuals, who are determined to bring something tangible out of the most unlikely places and in the midst of conflicting circumstances. This is due to the fact that nature does not often allow the concentration of all required resources in one place so that we may learn to work together or if we refuse to work together, no result or less result are ultimately achieved. Many individuals and organisations have prime real estates in their kitty but do not have an idea as to what to do with them or they lack the resources to do the obvious with such property. Unfortunately, some individuals prefer to wait for the day when they will h...

Electricity supply in Nigeria has worsened considerably, declining drastically to an 11-month low, a report by NOIPolls Limited – an indigenous survey agency, has said. According to the report, power supply ratings dropped by 13 points to an all-time low of 26 per cent for 2013. It stated that the decline in power supply was highly pronounced in the month of November, adding that many Nigerians complained of poor electricity supply in the period under review. The report reads in part, “The power situation has worsened considerably with a 13-point decline in the proportion of Nigerians that experienced improvement from October (39 per cent) to November (26 per cent). This represents the lowest power rating in 11 months. “These were the key findings from the Governance Snap Poll conducted in the third week of November 2013.” The report said the findings showed a general degenerated situation in power supply across Nigeria in spite of the recent privatisation drive. It furthe...

A Federal High Court in Lagos on Thursday ordered the Lagos State  Attorney General to address it on the claim that the Federal Government granted approval for the construction of the Lekki-Ikoyi bridge. Justice Saliu Saidu gave the order at the resumed hearing of a suit filed by a Lagos-based lawyer, Mr Ebun-Olu Adegboruwa, challenging the State Government’s collection of tolls on the bridge. The Attorney General of the Federation and the National Inland Waterways Authority are joined as first and second respondents in the suit. Also as third and fourth respondents in the suit are the AG of Lagos State and the State Government. The News Agency of Nigeria reports that the AG, Mr Ade Ipaye, had in a counter-affidavit on Nov. 25, averred that the state had paid for and obtained approval to construct the bridge. Adegboruwa, however, informed the court that he had filed a further reply to the respondent’s counter affidavit, arguing that neither the federal nor the ...

The federal government Wednesday said it would spend N217 billion on the development of the Lekki Deep Seaport in Lagos State. This was sequel to the approval by the Federal Executive Council (FEC) at its weekly meeting presided over by the Vice-President, Alhaji Namadi Sambo. Briefing journalists shortly after  the FEC meeting, the Minister of Information, Mr. Labaran Maku, said the project was approved in favour of Messrs Lekki Ports LFTZ Enterprise. "The Minster of Transport presented a memo seeking an approval for the development of the Lekki Deep Seaport, Lagos State, through a Public Private Partnership (PPP) arrangements for a concession period of 45 years for the Ministry of Transport/Nigerian Ports Authority (NPA). "The project upon completion will generate the sum of USD379 billion and the fact that the port will play a vital role in the economy. "After deliberations, the council approved the project in favour of Messrs Lekki Ports LFTZ Enterprise (t...

The menace of land grabbing is common in many cities of the country, but with higher propensity in Lagos. However, a new law criminalising such activities is underway as any fraud involving land transaction has been classified as a criminal offence in the state. With an estimated population of over 18 million, and the attendant quest for the available land on which to build houses, many residents fall victim of land grabbers popularly known as  Omo Onile , and other miscreants, who take advantage of the desperation of residents to defraud them. Although stakeholders in the built environment as well as other concerned residents of the state have condemned the act in various forms, the perpetrators have not been deterred as they still sell plots of land to multiple buyers and ask for more money when dispute arises, and will most often grab the land through intimidation and assault. Commenting on the new law, the Federal Controller, Federal Ministry of Lands, Housing ...