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Estate valuers Seek to Enhance Economic Growth

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real-estate
  • Estate Valuers Seek to Enhance Economic Growth

The President, Nigerian Institution of Estate Surveyors and Valuers, Dr. Bolarinde Patunola-Ajayi, has said that the contributions of building professionals to the execution of projects can enhance economic growth.

Patunola-Ajayi, who spoke at the NIESV Lagos Branch’s end of the year party, said that professionals in the building sector had not been fully involved in the execution of projects.

He also said that there was a need for the government to patronise indigenous professionals as this would enable them to demonstrate their capabilities, instead of depending on foreign expertise.

“Professionals in the building sector should be placed in the centre of project execution although they may not have materials and equipment capacity, but the human capacity is available. Government needs to ensure that our professionals are engaged,” he said.

The NIESV president also urged the government to invest more in road construction, as most of the nation’s roads were in bad conditions.

“If the government can invest more in construction, the whole labour force in the industry and even those in other sectors in the country will be active,” he said.

The Chairman, NIESV Lagos Branch, Mr. Offiong Ukpong, said that there was a need for the appointment of a valuer general, who would advise the government on the implementation of land surveys and value.

He added that indigenous professionals instead of their foreign counterparts should be allowed to share their own views on projects and that they should not just to give their ideas, but should also be given projects to execute.

The Vice Chairman, NIESV Lagos Branch, Mr. Olurogba Orimolade, added that members of the institution were well trained and equipped enough to face the challenges in the economy, adding, “Professionals should be allowed to deal in their areas of competence.”

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

Business

FG Says Nigeria’s Rice Production Rises by 1.2mmt in Three years

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FG Interventions Boost Rice Production by 1.2mmt in Three Years

The Federal Government has said the nation’s rice production increased by 1.2 million metric tonnes within three years due to its interventions in the rice value chain.

This was disclosed by Mustapha Shehuri, Minister of State for Agriculture and Rural Development, in Omor and Umerum at Ayamelum Local Government, Anambra State while assessing the Federal Government rice farms/mills project there.

He added that the federal government is working on revitalising its rice farm in Anambra to boost rice production, increase new jobs and improve the standard of the people in the state and Nigeria at large.

The minister was quoted as saying, “The present administration has provided various interventions to promote investment in the rice sector.

“As a result of these interventions, the country has increased its production from 4.8 million metric tonnes of milled rice in 2015 to over six million metric tonnes by 2019 with huge reduction in the nation’s deficit.

He added that President Muhammadu Buhari administration is pursuing and implementing programmes to achieve self-sufficiency in rice production because of its strategic importance as a major staple food crop.

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Economy

Lagos State Declares N89bn Surplus in 2019 After BudgIT False Report

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Lagos

Lagos State Economically and Financial Stable, Declared N89bn Surplus in 2019

Lagos State, Nigeria’s commercial capital, has declared an impressive N89 billion surplus for the year ended 2019.

This was disclosed in the state’s 2019 Audited Financial Statements.

The report was released following BudgIT, a public sector-focused financial information house, recent report titled ‘Ability of States to Meet Monthly Recurrent Expenditure and Loan Repayment Obligations, 2019’, that claimed the state was among states that can not meet monthly recurrent expenditure and loan repayment obligations.

A report, BudgIT later withdrew and apologised for misleading the public as several factors were not taken into consideration during the report. It added that Lagos was financially buoyant, and the only state with such financial capacity to function without federal allocations.

On Monday, Dr Rabiu Olowo, Lagos State Commissioner for Finance, in a statement to media houses, said the state was economically and financially buoyant.

In the statement titled ‘Lagos financially, economically stable’ said the commissioner said the state is presently doing 103 percent of the budget targets despite COVID-19, this he said is well above 2019 figures.

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Economy

Buhari to Inaugurate Nigeria’s First Standard Gauge Train in Itakpe-Warri Today

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Light Rail

Nigeria’s First Standard Gauge Train to Be Inaugurated Today

President Muhammadu Buhari will be in Itapke-Warri today, September 29, 2020 to inaugurate Nigeria’s first standard gauge train, the Itakpe-Ajaokuta-Warri rail line.

Fidet Okhiria, the Managing Director, Nigerian Railway Corporation disclosed this on Sunday.

Okhiria explained that President Buhari will conduct the inauguration virtually and not be physically present at the event.

He, however, said Mr. Rotimi Amaechi, the Minister of Transportation, would lead other members of the Federal Executive Council as well as other government functionaries to the event.

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