Nigeria Breaking News
Growth to Nigeria real estate depends on tech adoption, says Property experts
Critical stakeholders who participated at the 25th anniversary and summit of a Property Development and Management Company, UPDC Plc, have called for the adoption of technology in the sector, to achieve massive growth.
Exploring pathways to solving the various challenges and maximizing opportunities being created in Nigeria’s booming but volatile real estate sector in the event tagged: ‘Housing Development Imperatives for Nigeria; Prospects and Challenges,’ the experts called for creativity, innovation, and adoption of technology.
Speaking during a panel session, a renowned banker, Ann Ribu, said: “Growth and access to finance for real estate projects will increasingly depend on creativity, innovation, and adoption of technology.
Also, another real estate expert, Mr. Frank Okosun, identified the high cost of building materials, poor mortgage penetration, and problems with land administration as part of the reasons for the housing deficit in the country.
He said: “There is a significant gap between the stock we have and the quality of houses that meet international standards as well as affordable ones.
“Property ownership in Nigeria is still an elitist engagement. There should be a strategy for the big real estate firms to make homeownership affordable for lower-income earners,” he added.
Also, a renowned architect, Mr. Alan Davies, while speaking on the trends in the housing sector, noted that Nigeria’s rising young population has led to higher demand in the one room and two-room apartments.
He said: “It is unfortunate that everything comes down to cost; not just the cost of building but also of maintenance. Reducing these costs is more critical than ever.”
Earlier in his address, the chairman of UPDC, Mr. Wole Oshin, explored the recent history of the company noting that the company has experienced a turnaround; increasing efficiency and expanding its business.
He said: “UPDC has raised N16 billion in a rights issue in June 2020 and has continued to restructure after the recapitalization. Also in 2020, the facility division of the company became a separate business; UPDC facilities Management ltd. In 2021, Custodian investment ltd became the major shareholder in UPDC.
“As UPDC shifts from recapitalization to maximizing growth and opportunities, we continue to look forward, focusing on achieving profitability in the short to medium term, embarking on projects that increase profit and expand the company’s impact.
“Our real estate firm is the first real estate company to have been listed on the Nigerian Stock Exchange, and offers the most diversified portfolio of residential, commercial, retail and hospitality assets,” Mr Oshin added.
Ogun State Commissioner for Women Affairs and Social Development, Adijat Adeleye, has harped on the need for proper documentation of children in orphanages residing in the state. Adeleye stated that improved data analysis is necessary to ensure accountability, safety, transparency, and efficiency in the administration of homes.
The commissioner made this known during a training program for social workers, organized by the Ministry in collaboration with Both Ends Believing (BEB) and the Association of Orphanage and Home Operators in Nigeria (ASOHON) at Oke-Mosan, Abeokuta, on Friday.She reiterated the state government’s commitment to the welfare and well-being of all children in the state, regardless of their status, noting that their rights must be protected and that they should have a sense of belonging.
Adeleye said: “I want you to know that the present administration in Ogun State is committed to the welfare of all children in the state, and the era of being complacent is gone; whether as social workers or orphanage home operators, this time there is a need for us to have proper documentation of what is going on in our homes, both for present reasons and for the future of the children and the homes we run.”
The commissioner urged the trainees to take advantage of the training to enhance their career paths and provide efficient services in their line of duties.
Speaking, the National President of the Association of Orphanage and Home Operators in Nigeria, Dr. Gabriel Oyediji, explained that the objective of the training was to ensure a paradigm shift in keeping children’s records from analog to digital, towards achieving accuracy and timeliness in the management of children’s welfare.
Delivering a lecture on creating child-first software for orphanage homes, the Country Manager of BEB, Mr. Silas Nyam, highlighted some of the benefits of the software application for orphanage homes, which include storing and tracking children’s personal, medical, and educational records, monitoring children’s progress, goals and outcomes, and managing counseling therapy, among other things.
Appreciating the Ministry and other partners, representatives of the social workers, Adesola Omobolaji and Talabi Olusesan, said the training would be beneficial in enhancing quality service delivery in the discharge of their duties.
Source: Dailypost
President Bola Tinubu said he is not thinking about the upcoming 2027 general elections but instead dedicated to restructuring the economy for the benefit of the Nigerian people.
This is coming as several prominent figures from the All Progressives Congress, APC, including former national chairman. Chief Bisi Akande, former Ogun State governor, Aremo Olusegun Osoba, Lagos State Governor Babajide Sanwo-Olu, and governors from Ogun, Ondo, and Ekiti states—Dapo Abiodun, Lucky Aiyedatiwa, and Biodun Oyebanji, respectively—expressed their support for President Tinubu’s re-election and the success of all APC candidates in 2027.
Tinubu and the party leaders made these comments at the 2024 South West Assembly of the APC, held on Saturday at Victoria Island, hosted by Governor Sanwo-Olu, who serves as the zonal coordinator of the party.The event had in attendance party leaders and stakeholders from the South-West including senators, members of the House of Representatives, State House of Assembly members, local government officials, and top party representatives.
At the event, former Ekiti State governor, Kayode Fayemi, delivered the keynote address, praising the president as a “listening leader” with a strong determination to succeed.
Tinubu, who was represented by his chief of staff, Femi Gbajabiamila, urged Nigerians to be patient with his administration, which is committed to the genuine progress of the populace.
Source: Dailypost
In other news –
Nigeria’s tier-one bank, Zenith Bank has announced that its customers can perform transactions seamlessly on all its channels. The Bank disclosed this in a notice on Friday. This comes after the bank had earlier announced service disruption on Tuesday due to system maintenance.
In an update, Zenith Bank urged its customers that services have been restored across all its Channels, including Zenith Bank Debit, Credit and Prepaid cards, Automated Teller Machines, ATMs, Point of Sales terminals, POS, Mobile Apps, Internet Banking Platforms and Agents nationwide (Agent Banking).
This means that customers will not experience difficulties accessing services on its Channels.
“Dear Valued Customer,
We are pleased to inform you that you can now perform transactions conveniently, with the following Zenith Bankchannels:
Zenith Bank Debit, Credit and Prepaid cards
Zenith Bank Automated Teller Machines (ATMs), Zenith Bank Point of Sales terminals (POS), Zenith Bank Mobile App, Zenith Bank Internet Banking Platform Zenith Agents nationwide (Agent Banking). You can also visit any of our branches nationwide to perform your
transactions.
Source: Dailyspost