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“I am not behind Idumota crisis, Mc Oluomo is responsible” – Kunle Poly

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….Four Killed As Factional NURTW Members Clash In Lagos

Lagos State Police Command has said that a combined team of police and other security agents has been deployed to Idumota and its environs on Lagos Island to quell the gang fight that erupted in the neighbourhood on Thursday.

It was gathered that two factional hoodlums popularly known as area boys clashed in the area around 12 pm on Thursday, forcing several traders at the bustling commercial centre to abruptly shut down their shops.

Videos of the clash went viral on Friday, with one of the clips showing a bloodied youth being carried away in a wheelbarrow.

The Police Public Relations Officer, CSP Adekunle Ajisebutu, said that normalcy had returned to the community.

He said, “The police have quelled the crisis. Sufficient facilities were deployed in the area immediately we received a distress call and normalcy was restored. As we speak, the place is calm. I can’t confirm if any arrest was made for now or the cause of the fight. Investigation is ongoing.

Reacting to the allegation against him, Alhaji Adekunle Lawan alias Kunle Poly said the NURTW Lagos State Chairman, Alhaji Musiliu Akinsanya is behind the crisis on the Island.

He said he was out of Lagos when the crisis started, but immediately the information about the clash got to him, he had to make a detour back to Lagos.

“A lot of my boys have been killed for refusing to be part of them, today make it four years hire assassins were sent to kill me, unfortunately, my personal assistant was killed in the process. I have also done everything humanly possible to make peace with the State Chairman, I have also begged him in the presence of Governor Babajide Sanwo-Olu and the Assistant Inspector General of Police, AIG Hakeem Odumosu.

“I don’t have a problem with anyone at my park, on December 8, 2021 we were with the governor, I have 19 units out of it, the State Chairman collected 12 units leaving seven units for me. Simply because I didn’t support him for his chairmanship ambition then, that I am loyal to former Chairman Alhaji Tajudeen Agbede.”

Joshua is passionate about Lagos, especially the legislative beat. He is conversant with the environment and have a very analytical mind

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BUSINESS

Top Secrets surrounding rental property investment in Lagos

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Buying a rental property is a good step in the real estate business. However, I would advise that you shouldn’t barge into it without having some knowledge of what you are getting into. Despite having many people successfully running a rental property, still, it’s not easy money. There are obstacles, losses, risks, etc. but if you can figure it all out, then, you find it a successful investment.

Now, what do you need to know?

1. The property has to fit into what the people around want

This is very crucial. If you are buying a property close to the campus, be rest assured that 95% of potential tenants will be students. If you intend to make it a family home, then, you may find it difficult to get renters who are not students.

If people around are working class with good jobs, this will increase your property value because renters will be ready to buy at a premium price.

You need to put people whose population is higher into consideration before buying a property for rent. If it works, you can go ahead.

2. Location is as important as the air we breathe

If you want to get a good return on your investment, you need to be keen on location. Location can strengthen your investment, and at the same time kill it. It determines what value to be placed on it. If you buy a rental property, renovate and furnish it in underdeveloped areas, you may be disappointed in hearing the value people place on it. Also, if your rental property is in a place that is not all that motorable due to bad roads, or the roads always get flooded during heavy rainfall, this may be a huge obstacle to getting renters that would be willing to pay something worthwhile. And what is a business if you are not getting anything from it?

3. Check out the taste of structures within the locality

This should be highly considered because it’s a great determinant of having people interested in your property. Can you afford to have the property renovated up to taste? The property you are buying is not a new model, it is best to check out for structures around so you can make an adaptation or do something better. This helps you get renters easily and also willing to pay its value.

4. Renting property is dicey

The truth is you can’t be good enough, smart enough, and do everything right. Just a little mistake might make you lose the property. The fault may be or may not even be from the tenants or anyone.

Major damage such as fire outbreaks can ruin your investment. An economic downturn caused by anything, for example, a pandemic may make you lose money because if your tenants are unable to pay or move out without anyone showing interest in occupying, it’s a big loss on your part.

5. You are responsible for maintenance

As much as landlords try to avoid this part but at the end of the day, it falls back to you as the owner of the property. This is where you are reminded that it is your house and the responsibility to keep it together lies with you. This is a major reason some landlords take maintenance fees from tenants in case there is damage. However, this fee can just cover a little of the damage.

The major repairs still lie with the landlord whether he is willing to or not.

Apart from having damages, maintaining a house is the only means to keep a property whole.

Things have to be checked, adjustments have to be made and repairs have to be done.

All of these rest on the shoulders of the property owner.

6. Get everything documented

Everything about your property has to be documented. One of such is “agreement.” In Nigeria, many people take things for granted which may turn out to be a bigger issue sooner or later. Some houses have no landlord-tenant agreement for whatever reason. This shouldn’t happen in normal circumstances. When push comes to shove, that agreement which seems like a piece of paper to many might be the only evidence to bail you out.

And all documents concerning tenant evaluation and rent must be considered too.

Dennis Isong is a Real Estate Professional. He advises that before you buy any property in Nigeria, ensure you read this Real Estate Guide.CLICK THE LINK BELOW TO  DOWNLOAD  FOR FREE  https://landproperty.ng/free

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BUSINESS

Why you should buy a property for rental income in Lagos

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Lagos is a state in Nigeria that is highly populated, modern, full of prospects, and everything good. Just like they say that you can achieve anything in New York, Lagos is a city where you can achieve a lot because the city provides lots of opportunities and accessibility to getting closer to your dreams. 

This has motivated people all over Nigeria to migrate to Lagos because they see the city as their greener pasture.

In a place where the population keeps rising, it is expected that there would be a demand for houses for rent. 

Rental property is the new oil money in Lagos. And no matter how high your rent is, you already have a population that is ready to go for it.

So, why should you buy a property for rental income in Lagos?

1. Rapid economic growth

Lagos is leading in terms of business which helps the economy. The city is also considered Africa’s eighth-fastest-growing town in terms of population and is expected to be the world’s third-largest by the year 2050. The numbers speak for themselves with Lagos being responsible for more than 53% of production jobs, generating 25% of the national GDP, and consuming over 60% of the electricity of the country. Lagos is host to more than 2000 manufacturing businesses, and 200 financial institutions, and is also host to Africa’s biggest concentrations of small and medium-sized businesses.

2. The important need for rental properties

The rates of leasing in this city keep rising rapidly and this stands to promote the fact that a lot of people in Lagos are opting to rent over buying out properties. This is largely due to the usually massive cost of homeownership, high costs of land, and staggering costs of building construction. Developers are aware of this direction the industry is headed as approximately 75% of landowners already have plans to develop rental properties due to their ability to quickly provide a return on their investments as well as a large supply of the populace available to rent the very second construction is complete.

3. Stable political environment

Lagos has the most stable political environment when compared to other states in Nigeria. Since the return of democracy in 1999, Lagos has been under the control of the same political party and this ensures a continuum in governance, this is good for the real estate market because projects and developments are implemented according to the master plan. It also means that important projects that drive growth are not altered because of politics.

4. Infrastructural value

At this point, the biggest reason why Lagos is a great location for investments is an almost ridiculous rate of return of investments on real estate properties. The Lagos State Market Analysis presents Lagos as having some of Nigeria’s largest estate prices. The Lagos estate industry remained buoyant and, in some cases, flourished even when the value of the real estate in other states across the nation plummeted from the latest economic recession. A plot of land bought for 5 million in Lekki in the year 2006 could go for an average of 75 million now. It’s no surprise because real estate transactions occur dozens of times every day as more and more people seek to stake their piece of the blossoming city.

5. Bustling population

A population is undoubtedly a significant engine of development for the real estate industry, Lagos is easily Nigeria’s most populated state. The megacity has risen to about 22 million today from 1.4 million residents in 1970. Projections have estimated that at least 89 people move every hour to Lagos, which is more than 2000 people every day and nearly a million people every year. That’s a constant flow of bright-eyed citizens looking for accommodation, purpose, and fulfillment. 

Dennis Isong helps individuals invest right in Real estate. For questions on this article or enquiring about Real estate. Follow him on Youtube https://www.youtube.com/landpropertyng , Email Dennis@Landproperty.ng or Whatsapp/Call +2348164741041

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ENTERTAINMENT

US-based Yoruba actress, Asunramu plans ‘Old School Night 4.0’

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Come November, 11 2022, Nollywood actress, Mistura Asunramu will be hosting Old School Night 40 and Recognition Award.

The event which is packaged by 11th Media Global Concept will be featuring stage performance, award presentation, comedy, dance, premiere, fashion parade, gifts and lots more.

It will also double with movie screening of Apanimayoda.

Tope Alabi Falila Alagbo is the MC of the event while the music session will be played by Babatunde Anomatopia.

According to the organisers, the event will be taking place at Crystal Event Center.

The time for the event is 7 pm while the Dress Code is an African Culture of your tribe.

Ticket will be the regular 30 dollar and it will be a table for four with a drink of 250 dollars.

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