By Tunde Jakande
From Ebute Metta through Yaba, Somolu, Ikeja, Ajah and even in the heart of the state, Lagos Island , new housing estates are rising.
Developers are buying old family houses, shops, undeveloped plots of land.
They are building modern structures including hotels, shopping malls etc.
Developers have moved to rural areas like Ikorodu, Ikosi Ejirin, Imota, Eredo, Epe, Ibeju Lekki, Sangotedo etc and buying up every available land.
In the twenty local government councils and thirty seven development centres, a handful of developers have secured building rights.
Their companies are remodeling market structures and motor parks. They have attained power to let or sell shops/space.
My home town Oke Popo in Lagos Islander has not been spared. Ownership and tenancy have changed hands.
Children of my late aunties and uncles have sold or leased out their heritage. They are now tenants or have relocated.
While the Lagos for Lagos campaigns rages, the fact on ground is obvious to the discerning mind.
Lagos is no longer for Lagosians!
The future of Lagos for Lagosians maybe yesterday’s reality. The future of Lagos may not even be for Yorubas.
Thousands of hectares, markets, family buildings that form the heritage bequeathed by our fathers is being sold.
From amuwo odofin, Festac, Satellite Town, Ojo etc, the new structures are predominantly owned by young igbo boys.
All these are being bought with legal tender and the transfer of ownership papers, legit. They pay their taxes and levies to government.
While we chant Lagos for Lagosians, non indigienes especially Igbos are arriving penniless and becoming billionaires in this city we call our own.
When I drive round my city, I see thousands of able bodied indigeneous playing drought or ludo in the morning.
I see our young blood riding kekenap and okada. A significant number are foot soldiers for National Union Road Transport Workrs (NURTW). Our Politicians do not see what I see.
Daily, public office holders treat letters for financial assistance from indigenes. Most of the assistance is for naming ceremonies, burials and birthdays.
Igbo boys are helping each other set up shops and give out start up capital in millions of naira. They collaborate in business.
Family houses in Eric Moore, Adeniran Ogunsanya, Bode Thomas all in prime Surulere, are being sold to mostly igbos.
While the population of indigeneous is decreasing with many relocating to other states or abroad, Igbos are relocating to
Lagos, en mass.
If democracy is a game of numbers, guess who will not just own the houses but determine who win elections.
If you see this scenario as impossible its because you are not visionary like our leaders.
Empower the Indigenous youths economically otherwise………
Lagos for Lagos? Lagos for igbos!
Baba K. O. Latunji: The Final Bow
By Gani Adeniran
K. O. Latunji. By his transition to the great beyond on Friday, September 16th 2022 at 92 years, Ibadan again lost one of its finest community leaders, a great coordinator of friendships and all good things, a highly cerebral lawyer and a defender of all that is noble and virtuous, Baba Karimu Oladele Latunji, popularly known as K. O. LATUNJI.
The likes of Chief Richard Akinjide, SAN, Chief Bode Akindele (Parakoyi Ibadan) and Chief Adebayo Adetunji (Baba Onisiga), being of the same age-bracket, had earlier pre-deceased Baba Latunji in the glorious payment of the debt that we all owe. They and the others still alive were the first set of Ibadan educated elites who excelled in their various chosen careers and championed the course of Ibadanland to the best of their abilities.
My earliest recollection of Baba Latunji was about 1972 through my age-mate and friend, Kola Afolabi, who was at Comprehensive High School, Aiyetoro while I was at Ilesa Grammar School. Kola usually dropped his name as if he was his biological father! Baba Latunji was his idol. Later I got to know that Kola’s mother and Chief Latunji were of the same paternal parentage. Chief Latunji hailed from Itabale Olugbode (with concurrent ties with Oranyan) both in the present Ibadan North East Local Government. My late mother being from Iyalode compound at Itabale Olugbode was also familiar with Chief Latunji being one of the earliest lawyers of the time. In 1973, my mother had won a shop at the Shopping Complex built by Ibadan City Council at Agodi Gate through competitive bidding. Chief K. O. Latunji also had his office in the area.
My mother had apparently ran foul of some of terms of tenancy agreement and she was going to be dispossessed of the shop. The person holding onto the shop for her while she was in Abidjan, Ivory Coast (where she was an itinerant trader) was playing a fast one and had sought Chief Latunji’s retainership without my mother’s consent. On a particular day in 1976, upon my return from Ilesa, I led my mother to Chief Latunji’s chamber and, lo and behold, we met that particular man in the lawyer’s office!
As the man and Baba were speaking in English and I couldn’t understand much of their conversation, my mother, sensing injustice, got impatient and left furiously! The rest is history now. I later became very close to Chief Latunji and he honoured me with his presence in all the social gatherings that I duly invited him. He would attend usually in the company of Basorun Kola Daisi. Baba has a good sense of history and I readily remember his various interventions on critical issues involving Ibadan, be it in the appointment of commissioners, chief judges, justices, including the location of important facilities, and dates of settlement of misunderstanding. He once told me of his influence in the resolution of the impasse between a military Governor and late Labanji Bolaji, a very highly respected and incorruptible journalist in the Sketch newspaper.
Being trained in the best tradition of the English Bar, justice, equity and fairness were his watchwords. About two years ago, a friend of mine had approached me about a land that belonged to Baba which he bought through a third party and a ranking lawyer but he never perfected the deal. He himself now wanted to sell the land. I led my friend to Baba Latunji who remembered the allocation very well. Chief asked him to go back to the lawyer who sold the land to him in order to perfect the deal and collect the relevant documents.
He said it would be unprofessional for him to give out copies of the document. Moreover, Baba said that the lawyer was the son of his long-standing friend and fellow lawyer (now deceased). Sensing that my friend didn’t want to go back to the lawyer to collect the document, Chief Latunji told him that he could send for the lawyer right now and he would come. My friend said that he preferred that Baba should conclude the deal for him. Baba then told my friend pointblank that he would still charge his professional fees from the ranking lawyer anytime he turned up. Baba would not have the devious way of my friend who wanted to cut corners and play one lawyer against another lawyer! As we left Baba’s house, my friend confessed that it was the fear of possible payment of additional fees that made him to seek Baba’s help in the matter.
Generally, Baba was very jovial and accommodating; he would listen patiently to you before offering a response. Just before he turned 90, he started to will his legal obligations to younger lawyers including the chamber where my daughter-in-law worked. I must not fail to add that Baba enjoyed a good social life. During one of my daughters’ wedding, I had him served with some juice and mineral drinks. He beckoned on me and asked, “what are these?” and added jovially “if you don’t have red wine, just pack them”. I supplied his taste immediately and sought forgiveness from God later.
About six years ago on his prompting, I brought Baba Latunji to my mother’s house at Agodi Gate after a social reception at Ibadan Civic Centre. Baba couldn’t climb the staircase while my mother couldn’t come down, both due to old age. They both exchanged pleasantries from the distance and Baba sent a token to my mother. Baba Latunji still recognised a number of buildings in the area, including Baba Abondejo House, Adelakun House, Oloko House, Popoola House and Omitade House even though he had not visited the vicinity for over forty years. The last time my mother and Baba Latunji met was at the International Conference Centre, UI in 2019 during my daughter’s wedding.
I saw Baba last twice this year. First, I met with him on March 30th in company of my senior brother after the 8th Day Fidau prayer for my mother to give him a copy of the brochure, and on July 19th after my retirement from the University of Ibadan to give him a copy of my book. He was already weak, armed with the proverbial boarding pass and awaiting the take-off to the hereafter! May Allah illuminate his grave, forgive his sins and grant him Aljanah firdaus. Ire o!
Adeniran writes from Ajangboju-Akobo, Ibadan
University education as mere meal ticket…
By Bola Bolawole <> firstname.lastname@example.org <>
Last week, the news went viral of a graduate of the Ladoke Akintola University of Technology, Ogbomoso, Oyo state who, on account of his failure to secure a job six years after graduation, returned his certificate to the school and demanded a refund of the money he paid as school fees. It is a well-known journalism parlance that when a dog bites a man, it is no news but when a man bites a dog, bedlam! So, this bad news got copious mention in both social and traditional media. Not long afterwards, the alumni association of the university in question were reported to have come to the “rescue” of the troubled jobless man with a donation of N500,000. Let us take a look at how one of the news mediums reported the story. Titled “Nigerian graduate, who returned certificate to alma mater, receives N500,000 support”, it reads: A graduate of Ladoke Akintola University of Technology (LAUTECH), Ogbomosho, Oyo State, Osunleke Alaba, who recently returned his certificate to the institution requesting refund of his fees during his studentship, has received N500,000 start-up fund support from the alumni association. Mr Alaba, who graduated from the Department of Agricultural Extension and Rural Development, had complained about the “worthlessness” of his certificate following his failure to secure a job many years after his graduation. In a video that went viral, Mr Alaba caused a scene at the reception of one of the school’s administrative buildings, claiming his parents are already tired of his perpetual dependence on them. He said if he received his fees charged him throughout his five-year programme, he could spend it to develop his innate artistic talent.
“I returned the certificate because it had no impact on my existence. I asked for a refund of the fees paid in school so I could use it to build my talent and live a meaningful life. I am an entertainer and even won the MTN talent hunt award during my service year in 2016”. The father of two further said despite his efforts to improve the living condition of his family, he has continued to get advice for him to engage in ritual activities to be rich “but I can never do that. My dad is 90 years old but I continue to borrow money from him rather than give him. All I seek now is help in any form for me to pursue my entertainment career. I don’t want my career wasted.”
Less than a week after the video clip of his weird request went viral on social media, the university’s alumni association came to his aid. In a fresh post on his Facebook page, Mr. Alaba said the alumni association presented him with a cheque of N500,000. He said; “I hereby seize this medium to express my deep appreciation to the Global Body of LAUTECH Alumni as outstandingly led by the President, Hon. Onilede Solomon, popularly known as LIMO; the Board of Trustees, and the Oyo State Chapter of the Association for their presentation of the #500,000 cheque to me today. May Almighty God continue to be with you and all members of the association for their show of love and support! I thank you once again.”
The story is as pathetic as it is sad and unfortunate but not, in my view, in the pedestrian sense that many may view it; that is, that this man could not get a paid job after six years of graduation; that he still relied on his aged father for sustenance; and that he has a wife and two children to cater for. I prefer to view it from the other side of the coin: That a man passed through the university without the university passing through him; for that is the import of his declaring his years in the university as a colossal waste. If he is right, then, not only his own time was wasted but also the time of the teachers that taught him. The space he occupied, which could have gone to a worthier student, was also wasted. University education – and the university environment itself – is not only about learning to bag a certificate, it is also about character formation; about developing and forging long-lasting relationships; and about developing an independent and analytical mindset. It is a veritable ground that fertilizes one’s imagination and creates the capacity not just to face challenges in the larger society but also to explode with ideas, with creativity and innovativeness as the new graduate conquers the world, as it were. But for our man here, university education is about acquiring a certificate and the certificate is nothing but a meal ticket. Pure and simple!
I asked Goggle for the main purpose of university education and it says it “exposes students to new research and technology… Studying at university encourages creative and independent thought… University life exposes students to other cultures and backgrounds” I asked again for the benefits of university education and Goggle listed 10; namely: increased access to job opportunities; preparation for a specialized career; increased marketability; increased earning potential; economic stability; networking opportunities; a pathway to advancement; personal growth and improved self-esteem; higher job satisfaction; and positive return on investment. It would appear our man here froze at the very first benefit, which is, securing a paid employment; once that was not forthcoming, he did not bother himself to explore the other vistas that his university education could have opened up unto him. And the reasons for this may not be far to fetch.
The quality of education on offer today: Most of the curriculum is archaic; emphasis is on rote learning with little or no meaningful practicality. Teachers teach to pass or fail students; not necessarily to impart the knowledge in them that will prepare them for the challenges that await them in the larger society. Students study or cut corners to pass examinations and obtain a meal ticket. Everyone leaves the university expecting to land a white collar job and begin the upward mobility to join the privileged class. Craze for materialism is in vogue: Less work, big pay! The get-rich-quick syndrome is everywhere prevalent. Many are still nostalgic about what university education used to offer here: Instant job opportunities; job recruitments were done right on university campuses; multiple job opportunities were usually there for graduating students to pick and choose from; car loans a few months into a job, etc. I witnessed employers visiting our campus at Ife in my first and second year but it fizzled out before my final year!
I must, therefore, admit that successive administrations have mismanaged not just university education but the country as a whole. These days, only the children of the privileged get jobs. Even teaching jobs, which used to be despised, have become like gold. You must know somebody who knows somebody before you can stand a chance of landing a teaching job even in the remotest rural areas these days. But thank God for social media and globalization. Our children and youths who are not voting with their feet in search of any pasture at all abroad are increasingly learning to hook on to the global economy for survival. Many of them live here but work for companies abroad, earning cool foreign exchange. Those who may have problems are those who are not technology savvy. Can someone please tell Osunleke Alaba that it is not all our youths making cool money here that are into cultism and Yahoo-Yahoo! Many are doing genuine business and I encourage Alaba to do likewise.
For someone who read Agricultural Extension and Rural Development, it amazes me that he could go without a job for years and yet could not fathom what he could do with his hands on the farm. We have plenty of arable land: How, for God’s sake, could he not find something to do in an agrarian society like Nigeria? He said he is into entertainment and that he even won an award but did it not occur to him that no one entertains or gets entertained on empty stomach? No job; no means of livelihood; dependent on an aged father; yet, he got married and has fathered two children! What is this man’s definition of responsible behaviour?
The Academic Staff Union of Universities (ASUU) has been on strike for seven months: We have read stories of undergraduates who have taken advantage to learn new trades and move into new endeavours. We have read stories of two who have even written applications that have turned them into multi-millionaires. When school resumes, the likelihood is that many students already making waves in their new endeavours may choose not to return to school. So, Alaba’s problem is not in his stars or in his alma mater but in himself as a person. The alumni people that rushed to gift him some money did not think the matter through before acting hastily. It is like they were too eager to hug the limelight and benefit from the publicity elicited by Alaba’s showmanship. But, pray, how will N500,000 cure the disease of someone seemingly lacking in ideas and bereft of purpose?
*Former Editor of PUNCH newspapers, Chairman of its Editorial Board and Deputy Editor-in-chief, BOLAWOLE was also the Managing Director/ Editor-in-chief of the Westerner newsmagazine. He writes the “ON THE LORD’S DAY” column in the Sunday Tribune and “TREASURES” column in the New Telegraph newspapers. He is also a public affairs analyst on radio and television.
How to make real money from real estate in Lagos
It has been a little bit hard after the pandemic and Nigeria hasn’t found its feet yet.
It’s even a lot more complicated with the constant rise in dollar and inflation which don’t seem to have any feasible solution yet.
But despite all these, the Real Estate sector in Lagos has strongly stood the test of time. Of course, we have testimonies of people investing and cashing out big from this sector.
Lagos is currently the most populous city in Africa and alone is ranked the 5th largest economy in Africa.
Properties in Lagos can yield double the return on investment only if you are ready to play the long-term investment game and know how it works and what you are doing.
There are enough opportunities in Lagos for anyone who wants to make money in Real Estate in Lagos.
Someone like Barrister Teslim got lucky by working for a billionaire some years back.
Instead of spending all the money carelessly and philandering, he diverted it to land investment in Lagos.
He was part of the first set of people that saw a bigger prospect in Ibeju-Lekki and bought as many acres as he could afford many years ago.
Do you know how valuable land property is in Ibeju-Lekki? Now imagine someone who had bought land in the location years ago!
You may be confused about how to make money from Real Estate in Lagos but that will be discussed in this article.
- Land flipping
Ibeju-Lekki is one of the outskirt areas being developed on Lagos Island and it has been like that for some time now which suggests that there’s no stopping soon. These features are currently going on:
-4th Mainland bridge planned to link this region
-The Dangote Refinery
And much more development is planned.
All of these should be enough reason for getting land in this region because it’s a great investment as the prices are still minimal.
What should a good investor do?
-A good investor can analyze upcoming regions and purchase land in bulk just like Barrister Teslim.
-After purchase, then wait for a few years when the value has appreciated due to development in the area.
-Lastly, resell to estate developers or homeowners.
A good land flip can return more than 500% ROI in a space of a few years if properly planned and executed.
- You could focus on Offsite Property Development
Developers and investors are making huge profits from this aspect of Real Estate in Lagos presently.
How does this happen? What are the steps to take?
i.The developers spot a sizable amount of land
- He projects how to increase the value by building a gated estate or block of flats for direct sale to homeowners.
iii. Once the plan is good, the investor makes the initial investment for purchase and sets up the land for building.
- Then the marketing team of the real estate company or developer swings into action. One of the ways to make it an easy run is to allow for payment by installment plan from the end homeowners.
All of these are done even when the property is still being developed. And at the end of the day, the investor and developer (Real Estate Company) make a sizable profit, which they can use to repeat the cycle a second time and so it continues that way.
- Real Estate Investment Management
Apart from the saying that “money is made through money”, isn’t it obvious from our day-to-day activities? Normally, real estate deals with high-profit returns which require huge investments for anyone. Is there hope for an average investor? An average investor,/can join, set up, or manage a Real estate investment Management Fund.
- Becoming a landlord to invest in long-term rentals
The shelter is important, so people would either need a place to stay or to do business (shops and offices). So, what do you come up with that fits into people’s demands?
You buy or build a residential rental. This can be in blocks of apartments or even shared spaces(office) is a good way to get started.
However, this can be more favorable if you are in the right location. When it comes to Real Estate, location matters most.
This is a sure way of reaping profits for as long as possible.
- Home-Renovation Flipping
People are yet to pay attention to this. However, you can have a double return on investment if it’s done right. You buy or even rent an old house in a very prime location, renovate and refit it. Then put it up for sales or rent. For example, you can rent or buy a beat-up 5-bedroom duplex, refit it into separate rooms, self-con, or studio apartments, then re-rent it out and recoup your initial investment with some profit to spare.
- Contract Flipping
This is purposely done for distress sales. A lot of people sell their properties as distress sales. It’s important to find these people early, buy the property, add value to it or just put it at a higher sales price and wait for a buyer who will buy it from you at a more profitable deal.
- Shortlist and Vacation Rentals
The shortlist business in Lagos is booming silently. The easy thing about having a short-let apartment is that you can start with a low-cash investment. For example, you can make double the profit if you invest 8 million naira at the end of the year. Although, this business is not easy neither is it for the faint-hearted because it’s not easy to manage as it requires some experience and access to pivotal information. Nonetheless, if you are on track, your investment is sure to return big for you.
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
I will deliver personal intervention programme to my people …Osolana
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