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Sanwo-olu to build road linking Ojota to Opebi link-bridge

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A traffic solution proposed 20 years ago to ease off perennial gridlocks that usually stretch from Sheraton Link Road into Opebi corridor has today become a reality, as Lagos State Governor Babajide Sanwo-Olu flagged off the construction of a carriageway that will solve major traffic conflicts in Ikeja.

The 3.89 kilometre-long road infrastructure will open into Ojota axis in Kosofe, taking traffic from Opebi U-Turn and dropping it at Ikorodu Road via intersection that will be constructed under Odo Iya Alaro Bridge at Mende.

The road will be supported by 276 metre-long deck-on-pile bridge and 474 metre-long mechanically stabilised earth-wall approach sections.

The carriageway, which is a new connectivity, would create an easy exit for commuters leaving Ikeja-Onigbongbo axis towards Ojota and Maryland.

The project was initiated to proffer permanent solution to inadequacies of Opebi Link Bridge and the Opebi U-Turn, and to ease pressure on overburdened routes within Ikeja, with the objective to reduce travel time along the corridor.

At the groundbreaking event, Sanwo-Olu also announced that the State Government had successfully procured additional three sets of train for the Lagos Blue Line Rail project expected to be completed before the end of the year. The rail line traverses Okokomaiko and Marina.

The news came a week after the Governor completed the deal for the procurement of two Talgo trains in Milwaukee, Wisconsin in the United States (U.S.) for the Lagos Red Rail Line project, stretching 37-kilometre from Abule Egba into Oyingbo.

Speaking on the road infrastructure, Sanwo-Olu described the project as “another landmark progress” recorded by his administration towards delivering requisite infrastructure in Lagos. The ceremony, he said, demonstrated the priority accorded the welfare and well-being of the residents in line with his Government’s drive towards delivering a Greater Lagos Vision.

He said: “This flag-off ceremony demonstrates the priority we accord the well-being of the people of Lagos, as we are witnessing another milestone in the implementation of the Traffic Management and Transportation Pillar of our administration’s THEMES Agenda and the State Strategic Transport Master Plan (STMP). Prior to this project, there was no direct road linkage between Opebi, Maryland and Ojota. Available roads linking the areas are limited in connectivity options, thus paving the way for the high traffic volume and congestion within the Ikeja traffic network.

“We recognised the need to create permanent solution to the conflicts by initiating another legacy construction project linking Ojota, Opebi and approach roads to connect Opebi Road from its tail end with Ikorodu Road by Odo Iya Alaro. Upon completion, the carriageway will reduce travel time for Lagos and Ikorodu-bound traffic from Opebi.

It will also ease the traffic situation at Opebi-Sheraton Link Road and Mobolaji Bank Anthony Way. This legacy project will not only provide a new link to commute around Ikeja and its environs, it will also enhance economic prosperity and life expectancy.”

The Governor stressed that Messr Julius Berger was favoured as preferred contractor for the iconic project, given the civil engineering firm’s capacity and track record in construction on swampy terrains.

Since his administration came on board, Sanwo-Olu said 65 road projects and dozens of junction improvement work have been completed, while over 50 road infrastructure projects were at various stages of completion across the State.

He added that the State Government’s traffic improvement work was being complemented with constant road maintenance. He disclosed that over 832 arterial and tertiary roads, covering 252 kilometres, had been rehabilitated through routine palliative activities by the Lagos Public Works Corporation.

He said: “This is to demonstrate that politics is not about lip service. We have committed substantial resources to the provision of quality roads, waterways, and rail infrastructure to the people of Lagos, just as we have invested in modernisation of infrastructure inherited from the previous administration.

“To give the people commuting options, we initiated the construction of a 37 km track rail project which is steadily progressing, in addition to the complete overhaul of our water transportation system so that we can achieve an efficient and safe transport system that suits our megacity status and befits a 21st century economy.”

Special Adviser to the Governor on Works and Infrastructure, Engr. Aramide Adeyoye, said Julius Berger carried out extensive studies and engineering investigations along the project alignment two decades ago, prompting the State Government to take proceed with the construction.

She said the Governor remained determined to ensure that the project did not end up being abandoned, stressing that necessary funding mechanism had been secured to guarantee the project’s timely completion.

“Aside providing direct link between Opebi and Mende, Maryland and Ojota, this project also has two underpasses and U-Turn that will provide access for Ojota to Ikorodu as well as for Opebi-bound commuters. There is also provision for another underpass U-Turn for Phase 2 of Opebi Link Bridge Project which would eventually set a precedence for Ojota commuters to link the Third Axial Road,” Adeyoye said.

Member Representing Ikeja Federal Constituency, Hon. James Faleke, who led residents to the flag-off, described the project as “a surprise gift” to Ikeja community, praising the Governor for his vision to open up the swampy channel.

Chairman of Onigbongbo Local Council Development Area (LCDA), Hon. Oladotun Olakanle, extended residents’ appreciation to the Governor for kicking off the project.

Adeola researches and writes original stories from national, regional and Lagos perspectives. She reports on general news and politics, as well as on sports, arts and culture, science and business. She also covers national and local events, entertainment and human interest stories.

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NEWS

I will deliver personal intervention programme to my people …Osolana

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Hon.Sola Osolana the Peoples Democratic Party’s standard flag bearer for Agege Federal Constituency has declared his intention to attract federal presence in Agege, if elected as House of Reps member at 2023 general election.
The astute politician who convincingly won party primaries twice, owing to a rerun election, said that in spite of the over 24 years of electoral experience, Agege has not really benefited any federal presence in terms of infrastructural development which in his view is tied to lack of true representation.
Osolana made the assertion at a press conference to unveil what he tagged : ‘Covenant With The People of Agege’, held to herald his campaign programme on Wednesday at his constituency office in Agege.
According to him he is bringing on board a clear departure from the fraudulent and deceptive style that characterizes politicians in Agege, who basically deceive people to steal their mandate.
Osolana said: “This is a covenant to respect the sanctity of electoral mandate, to truly serve and create a marked departure from the sordid political experience, Agege people have not really benefited, there are few or no federal presence since over 24 years of electoral experience.
“A patriotic call-This our Federal constituency requires intervention at this time.
“In order for Agege to have true representation, I offer myself, please give me your mandate, I will serve you with a representation that will connect us to the federal and lobby others to bring goodies to Agege, through promotion legislation that has direct impact for constituents.
“More federal government funded projects that will affect Agege positively will also be attracted.
“Agege is water logged during the raining season as there are no good and functional drainage systems.
The vibrant politician also notes the dearth of mentors and apprenticeships for the youths which in his view could have helped to cure a lot of social malaise, given the required guide.
“I will however continue with my direct personal intervention via youth empowerment, access to health care. I will be giving a revolving loan to boost my constituents businesses between 50,000 to 1 million naira.
Osolana also reaffirmed his trust in the unbiased mien of INEC while stating that unlike the previous council election where the LASIEC helped to manipulate things for the ruling party, the game has now changed.
He promised that as the campaign kicks off today, his message will revolve around critical issues of governance and what PDP intends to do.
He however, tasked Agege eligible electorates to create time and visit the INEC office to collect their alleged over a million Permanent Voter Cards yet to claimed.
On his plans to aide the growth of sports as a tool to boost quality human capacity development, Osolana stated his poise to give more encouragement to primary school Inter House sports, as well as encouraging existing sports clubs through facilitation of a Sporting Academy.

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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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