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Pass Real Estate Bills, LCCI Tells N’Assembly



  • Pass Real Estate Bills, LCCI Tells N’Assembly

The Lagos Chamber of Commerce and Industry has called on the National Assembly to pass all pending real estate-related bills so as to help boost the industry’s growth.

The President, LCCI, Mrs. Nike Akande, stated at the first business clinic of the chamber’s real estate group that the industry needed government’s support as the country’s large population of 180 million and huge housing deficit were indicative of a positive prospect for the real estate industry.

She said, “The government should give more support to this sector by pursuing the passage of all pending real estate-related bills at the National Assembly.

“Some of these are the Infrastructure Development Bill; the Engineering Registration Act (Amendment) Bill 2016; Nigeria Industrial Development and Zones Bill 2016; Nigerian Assets Management Agency Establishment and Regulatory Bill 2016; and the National Housing Fund Act (Amendment) Bill 2016.”

Akande added that the real estate industry had become one of the major drivers of growth and development aspiration of the country, and that because of the importance and performance of the industry over the last few years, the LCCI decided to unbundle real estate from the construction group and make it a stand-alone group in the chamber.

She noted that a recent report published by PwC found that the Nigerian construction and real estate industry remained robust despite the prevailing economic slowdown.

“The industry is projected to record a compound annual growth rate of 9.49 per cent over the period of 2016 to 2020. In addition, Nigeria has emerged as a major hub of building and architectural design in Africa. This is largely induced by the spread of Nollywood where Nigerian building designs are showcased and watched across the African continent. This presents opportunity for players in the real estate industry to maximise both local and emerging off shore potential,” she added.

Akande said that to ensure sustainability, operators in the real estate industry must embrace modern technologies, and ensure regulatory compliance and standardisation in service delivery.

The Chairman, Real Estate Group, LCCI, Mr. Olumide Osunsina, said membership of the group cuts across real estate developers, surveyors, architects as well as structural engineers, with over 60 companies as members.

“The real estate is one of the groups in the Lagos chamber whose activities are focused on addressing critical issues affecting investment and investors in the real estate industry, which will require the informed intervention of the chamber from time to time,” he said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.


FG Introduces NEXIT Portal for Npower Batch A and B Beneficiaries



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The Federal Government has introduced a new online portal for exited Npower beneficiaries of batch A and B.

According to the Minister for Humanitarian Affairs, Sadiya Farouq, the portal was launched in collaboration with the Central Bank of Nigeria (CBN) to enable exited Npower beneficiaries apply for available federal government empowerment options.

This was disclosed in a statement issued by Nneka Anibeze, the media aide to the minister, on Friday.

The ministry said the NEXIT portal will be used to determine the suitability of exited beneficiaries for various CBN-affiliated programmes.

She explained that selection will be based on the conditions and criteria set by the apex bank.

Ms Farouq, therefore, urged interested exited Npower beneficiaries to log on to the NEXIT portal and provide the required additional information for possible placements into central bank’s intervention options.

The Minister expressed her deep appreciation to the CBN Governor Mr Godwin Emefiele CON for his support adding that the Ministry of Humanitarian Affairs remained committed to the vision of Mr President to lift 100 million Nigerians out of poverty in the next 10 years.

“Minister Umar Farouq pledged the Ministry’s willingness to collaborate with relevant agencies of government and other stakeholders towards the realization of that vision and congratulated the exited beneficiaries while wishing them well in their future endeavours.

“The Federal Government of Nigeria is very proud of the milestones you have achieved during your period of service to the nation. As we prepare to exit into prospective endeavours.”

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Ellah Lakes Partner Ondo State Government to Develop Oil Palm, Cassava in the State



The management of Ellah Lakes Plc said it has partnered with Ondo State Government to develop and manage 5000 hectares of land for the purpose of cultivating oil palm and cassava in Ondo State, Nigeria.

The company stated in a statement signed by Kenechi Ezezika, Company Secretary, Ellah Lakes Plc.

Speaking on the development, the Chief Executive Officer, Chuka Mordi said: “This is a significant landmark for the Company in the development of our landbank, & we are very excited to be working with ODSG.

I am delighted that we are fulfilling our strategic objective of progressively expanding our land bank & diversifying our portfolio and production base. I am also glad to say that the intercropping programme in Edo State is progressing steadily & we have achieved our first milestone of 100Hectares of Cassava with the participation of personnel of the Agricultural Development Program (ADP), in Edo State”.

The Special Adviser on Development & Investment to the Ondo State Governor/ Chief Executive Officer of Ondo State Development and Investment Promotion Agency (ONDIPA), Mr. Akinboye Oyewumi, who also spoke on the development said: “We are pleased with this collaboration with Ellah Lakes Plc., and we look forward to a mutually beneficial, valuable and fruitful venture.”

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Unilever Nigeria Appoints Mr Jaime Aguilera as a Non-Executive Director



Unilever Nigeria Plc

Unilever Nigeria Plc announced it has appointed Mr. Jaime Aguilera as a Non-Executive Director of the company effective from January 2021.

The company stated in a statement filed with the Nigerian Stock Exchange.

Mr Jaime Aguilera worked with Coca-cola, Nestle and Procter & Gamble before joining Unilever as Executive Vice President Unilever Eastern Europe in September 2016.

Therefore, his experience spans from Europe, Americas and Asia.

His key expertise areas are “in Sales & Marketing and he has lead teams in Spain, Brazil, South Eastern Europe, Middle East, Mexico and Global teams.

“In 2009, he joined Unilever Spain as EVP & Chairman and then moved to his current role as Unilever Executive Vice President Africa, leading the Unilever business in Africa. Jaime is of Spanish origin and is an alumnus of the Universidad Pontificia de Comillas- ICADE. Jaime majored in Economic Sciences, Management & Business Administration.”

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