Connect with us

Markets

We’ll Revolutionise Housing with 2,000 Units in 6 Months, Says Brains and Hammers

Published

on

housing-loans
  • We’ll Revolutionise Housing with 2,000 Units in 6 Months, Says Brains and Hammers

In a major announcement to reaffirm its commitment towards realisation of a landmark housing development, the management of Brains and Hammers Limited, a leading Nigerian real estate and infrastructure development group, has assured subscribers and interested members of the public of its readiness to deliver 2,000 homes comprising two bedroom and three bedroom apartment, terraces and semi-detached buildings in the next six months at its Life Camp site in the Federal Capital Territory (FCT), Abuja.

Popularly called Brains and Hammers City, the expected construction of the new housing development in a record time of six months will go down as an unprecedented achievement in the history of construction of mass housing in Nigeria.

Speaking with journalists at a meeting in Lagos, the Chairman of the company, Mr. Adebola Sheidu, said he was particularly proud that the feat was being achieved by a team of young Nigerian professionals including architects, quantity surveyors and engineers who had made marks of distinction in their various disciplines. He allayed fears that the speedy conclusion of the project may jeopardize safety.

“We’ve managed to incorporate international building codes and standards with mid-to-high end features while maintaining a safe community for living and entertaining. This estate will set the tone for every new homeowner to experience an enhanced quality lifestyle as we have the capability to customise any feature for your new home.”

He said all the building materials and accessories used in the construction of the homes are manufactured in Nigeria by Nigerian companies.

Explaining his company’s decision to patronize made-in-Nigeria products, Sheidu said, “we are going through a very challenging period in the history of our country. However, I believe this is the best time for any enterprising individual or company. There are so many opportunities, particularly in the area of provision of housing and infrastructure.

There is no part of the country that does not have a huge need for housing and infrastructure. But the degree and type of housing and infrastructure solutions required are different from one part of the country to another.”

Sheidu further spoke on his company’s self-imposed task of delivering 2,000 homes between November, 2016 and May, 2017. “We have it all worked out. Part of what we are set to deliver is a 12 kilometre dual carriage road, leading in and out of the estate, with complementary street lighting. We have started work on it already.

Construction of the road and housing are going on simultaneously. This is in collaboration with the FCT. We have tremendous support from the FCT minister to ensure that this road is completed.

The Chairman of Brains and Hammers Limited commended both the Minister of Housing, Works and Power, Mr. Babatunde Fashola, and the FCT Minister Alhaji Mohammed Bello, for their support. “We have enjoyed very good and cordial relations with the honorable minister of Housing and his team. He gives us a listening ear and is always ready to facilitate the processes that will ensure speedy completion of the project.”

Mr Sheidu was also full of praises for the minister of the FCT, in whose domain, Brains and Hammers is executing this current project and its previous achievements in provision of housing which has given the company a good reputation. He was commended for creating an enabling environment for developers in the FCT, by removing bureaucratic bottlenecks that was hitherto a nightmare for developers.

“The Honourable Minister has been so kind in taking a special interest to give us all the encouragement we need.”

“The Brains and Hammers City will be the ultimate live, eat, work and play environment but more importantly, we want to also provide affordable homes for working Nigerians who hitherto thought owning a home was beyond their reach.”

In making homes affordable, Brains and Hammers is offering the opportunity to own a home to every working class Nigerian. It has several home ownership programmes and mortgage routes to ensure the dream of home ownership is realized.

The 72-hectare Brains and Hammers City at Life Camp, Abuja consists of one bedroom apartments, two-bedroom flats, three-bedroom flats, four-bedroom terraces, four-bedroom semi-detached and five-bedroom fully detached modern homes. The Brains and Hammers City will feature infrastructure like 24/7 electricity, a water treatment plant, gymnasium, jogging track, schools, hospital, swimming pool, mini-theme park for kids, a spa, restaurants, cinema, parks and gardens, etc.

In addition, the commercial area will consist of major branded retail supermarkets, office spaces, schools and clinics. The city will cater to mid and high-level residents at affordable prices. Brains and Hammers has positioned itself as a leader in the real estate and infrastructure industry. It has completed over 1,000 residential homes across Nigeria and work is currently ongoing for over a 1,000 more. By the time the company finishes this 2000 in six months, it would have built 4000 units.

Its current development portfolio consists of residential projects within Lagos and Abuja. The sites include Life Camp, Galadimawa, Gwarimpa, Apo I, Apo II, Apo III, Apo IV, Apo V, all in Abuja and along the Lekki corridor in Lagos.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Commodities

Cocoa Fever Sweeps Market: Prices Set to Break $15,000 per Ton Barrier

Published

on

Cocoa

The cocoa market is experiencing an unprecedented surge with prices poised to shatter the $15,000 per ton barrier.

The cocoa industry, already reeling from supply shortages and production declines in key regions, is now facing a frenzy of speculative trading and bullish forecasts.

At the recent World Cocoa Conference in Brussels, nine traders and analysts surveyed by Bloomberg expressed unanimous confidence in the continuation of the cocoa rally.

According to their predictions, New York futures could trade above $15,000 a ton before the year’s end, marking yet another milestone in the relentless ascent of cocoa prices.

The surge in cocoa prices has been fueled by a perfect storm of factors, including production declines in Ivory Coast and Ghana, the world’s largest cocoa producers.

Shortages of cocoa beans have left buyers scrambling for supplies and willing to pay exorbitant premiums, exacerbating the market tightness.

To cope with the supply crunch, Ivory Coast and Ghana have resorted to rolling over contracts totaling around 400,000 tons of cocoa, further exacerbating the scarcity.

Traders are increasingly turning to cocoa stocks held in exchanges in London and New York, despite concerns about their quality, as the shortage of high-quality beans intensifies.

Northon Coimbrao, director of sourcing at chocolatier Natra, noted that quality considerations have taken a backseat for most processors amid the supply crunch, leading them to accept cocoa from exchanges despite its perceived inferiority.

This shift in dynamics is expected to further deplete stocks and provide additional support to cocoa prices.

The cocoa rally has already seen prices surge by about 160% this year, nearing the $12,000 per ton mark in New York.

This meteoric rise has put significant pressure on traders and chocolate makers, who are grappling with rising margin calls and higher bean prices in the physical market.

Despite the challenges posed by soaring cocoa prices, stakeholders across the value chain have demonstrated a willingness to absorb the cost increases.

Jutta Urpilainen, European Commissioner for International Partnerships, noted that the market has been able to pass on price increases from chocolate makers to consumers, highlighting the resilience of the cocoa industry.

However, concerns linger about the eventual impact of the price surge on consumers, with some chocolate makers still covered for supplies.

According to Steve Wateridge, head of research at Tropical Research Services, the full effects of the price increase may take six months to a year to materialize, posing a potential future challenge for consumers.

As the cocoa market continues to navigate uncharted territory all eyes remain on the unfolding developments, with traders, analysts, and industry stakeholders bracing for further volatility and potential record-breaking price levels in the days ahead.

Continue Reading

Crude Oil

IOCs Stick to Dollar Dominance in Crude Oil Transactions with Modular Refineries

Published

on

Crude Oil - Investors King

International Oil Companies (IOCs) are standing firm on their stance regarding the currency denomination for crude oil transactions with modular refineries.

Despite earlier indications suggesting a potential shift towards naira payments, IOCs have asserted their preference for dollar dominance in these transactions.

The decision, communicated during a meeting involving indigenous modular refineries and crude oil producers, shows the complex dynamics shaping Nigeria’s energy landscape.

While the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had previously hinted at the possibility of allowing indigenous refineries to purchase crude oil in either naira or dollars, IOCs have maintained a firm stance favoring the latter.

Under this framework, modular refineries would be required to pay 80% of the crude oil purchase amount in US dollars, with the remaining 20% to be settled in naira.

This arrangement, although subject to ongoing discussions, signals a significant departure from initial expectations of a more balanced currency allocation.

Representatives from the Crude Oil Refinery Owners Association of Nigeria (CORAN) said the decision was not unilaterally imposed but rather reached through deliberations with relevant stakeholders, including the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

While there were initial hopes of broader flexibility in currency options, the dominant position of IOCs has steered discussions towards a more dollar-centric model.

Despite reservations expressed by some participants, including modular refinery operators, the consensus appears to lean towards accommodating the preferences of major crude oil suppliers.

The development underscores the intricate negotiations and power dynamics shaping Nigeria’s energy sector, with implications for both domestic and international stakeholders.

As discussions continue, attention remains focused on how this decision will impact the operations and financial viability of modular refineries in Nigeria’s evolving oil landscape.

Continue Reading

Energy

Nigeria’s Dangote Refinery Overtakes European Giants in Capacity, Bloomberg Reports

Published

on

Aliko Dangote - Investors King

The Dangote Refinery has surpassed some of Europe’s largest refineries in terms of capacity, according to a recent report by Bloomberg.

The $20 billion Dangote refinery, located in Lagos, boasts a refining capacity of 650,000 barrels of petroleum products per day, positioning it as a formidable player in the global refining industry.

Bloomberg’s data highlighted that the Dangote refinery’s capacity exceeds that of Shell’s Pernis refinery in the Netherlands by over 246,000 barrels per day. Making Dangote’s facility a significant contender in the refining industry.

The report also underscored the scale of Dangote’s refinery compared to other prominent European refineries.

For instance, the TotalEnergies Antwerp refining facility in Belgium can refine 338,000 barrels per day, while the GOI Energy ISAB refinery in Italy was built with a refining capacity of 360,000 barrels per day.

Describing the Dangote refinery as a ‘game changer,’ Bloomberg emphasized its strategic advantage of leveraging cheaper U.S. oil imports for a substantial portion of its feedstock.

Analysts anticipate that the refinery’s operations will have a transformative impact on Nigeria’s fuel market and the broader region.

The refinery has already commenced shipping products in recent weeks while preparing to ramp up petrol output.

Analysts predict that Dangote’s refinery will influence Atlantic Basin gasoline markets and significantly alter the dynamics of the petroleum trade in West Africa.

Reuters recently reported that the Dangote refinery has the potential to disrupt the decades-long petrol trade from Europe to Africa, worth an estimated $17 billion annually.

With a configured capacity to produce up to 53 million liters of petrol per day, the refinery is poised to meet a significant portion of Nigeria’s fuel demand and reduce the country’s dependence on imported petroleum products.

Aliko Dangote, Africa’s richest man and the visionary behind the refinery, has demonstrated his commitment to revolutionizing Nigeria’s energy landscape. As the Dangote refinery continues to scale up its operations, it is poised to not only bolster Nigeria’s energy security but also emerge as a key player in the global refining industry.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending