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The Address Homes Harps on Professionalism as Lagos Seeks Support to Halt Real Estate Fraud

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AJAGBE ADEYEMI TESLIM

Sponsored by: H&H

A property development company, The Address Homes, has commended the drive by the Lagos State Government to tackle quackery and fraudulent activities in the real estate sector, describing the just-concluded 3rd Real Estate Market Place Conference and Exhibition as a huge platform created to deepen professionalism in the industry.


 
The luxury property development company said the decision of the state government through the Lagos State Real Estate Regulatory Authority, LASRERA, to create a platform for the players in the industry to discuss safety, technology, policies and showcase their products and services reinforces Governor Babajide Sanwo-Olu’s administration’s commitment to boost the sector.
 
The 3rd conference and exhibition with the theme: “Town Hall Meeting on the Lagos Real Estate Emerging Markets- Mitigating the Potential Risks” was held last Tuesday and Wednesday at the Eko Hotel and Suites, Victoria Island, Lagos.
 
The Address Homes which was one of the major sponsors of the event said it decided to partner with the Lagos State government on the project because of its desire to enthrone complete sanitisation of the industry and enhance growth in the burgeoning sector.
 
Speaking at the sideline of the Conference and Exhibition, Mr Segun Ogunbiyi, Marketing Manager, The Address Homes, said the company’s partnership with the government was purely for promoting integrity, professionalism, customer satisfaction and safety in the real estate industry in Nigeria.
 
According to Ogunbiyi, while the collaboration was meant to curb unscrupulous practices and promote global best practices and investment opportunities in the sector, the firm has continued to change the face of real estate development through the delivery of quality homes to high-income luxury homes seekers.
 
“The real estate market has different segments. There is an emerging market, there is a mid-market within the grassroots, and there is the upper-echelon market. We play in the upper echelon market whereby we build luxury homes for the VIPs, captains of industry, and oil and gas gurus. Those are the people we focus on because they can afford our properties.
 
“Our market is narrowed to a particular set of individuals and not the whole market.”
 
According to him, some of the company’s projects, included The Luxuria, on Alexander Road, Dan on Banana Road, Ikoyi, and Osapa London in Lekki, adding that the firm has also extended construction to Ikeja, GRA and Keffi Street, Ikoyi.
 
“When talking about luxury homes, standard housing construction, top-notch finishing and functionality location, affordability and serenity, The Address Homes is always there.
 
“We focus on this segment because we are in business to make a margin. We have seen the market and we discovered that there is a particular set of people that want the best location.
 
“We concentrate in urban locations. Sometimes, we approach the owner, go into a joint venture, build, operate and transfer to the owner,” he said.
 
Ogunbiyi, while adding that the Address Home has been known for professionalism, quality building with detailed finishing that can stand the test of time, noted, “We don’t cut corners; we build standard projects that stand the test of time. We do not compromise. That is the difference, and our finishing is top-notch.”
 
Also speaking at the conference, Morohuntoye Olufunke of the Client Service, Marketing unit of The Address Homes said the idea behind the conference aligns with the core values of the company which are hinged on professionalism, integrity and customer satisfaction.
 
“As a realtor and stakeholder, you must have knowledge of what is going on in the industry; you must also know that there are checks and balances in the operations within the sector and those are part of what this marketplace is designed to address. Various stakeholders within the industry have been able to interact and share ideas that can uplift the real estate sector.
 
“As one of the exhibitors, the event has been able to create a platform for us to showcase our potential to do things differently. We have said that The Address Homes doesn’t just do construction, we build homes with a combination of high-class contemporary architectural design and high-level finishes with respect to designs and styles that meet consumer passion, taste and comfort. Our projects including The Luxuria, located on Alexander Road, Dan and Dan located on Banana Road, Ikoyi, Osapa London among others speak of the difference we bring into construction,” she said.

Speaking earlier at the conference and exhibition, Lagos State Governor, Babajide Sanwo-Olu who was represented by his deputy, Dr Obafemi Hamzat, described the real estate sector as the biggest employer of labour in the country with the potential to open the floodgate of economic prosperity for not only the state but the nation.
 
The governor said the industry with a propensity to be the cash cow for the people needs to be protected against quackery, and unprofessional attitudes of practitioners who could compromise safety and hurt the citizens.


 


He said, “We are worried about the emerging trends and practices in the sector in recent times which has now called for increased vigilance on the part of all genuine practitioners and the government in view of the rate of reported cases of dubious acts by some real estate agents who are taking undue advantage of the market which has become one of the fastest growing in Nigeria and Lagos State in particular as a result of increasing population.
 
“Our government through LASRERA has defined minimum operational standards and guidelines for citizens to abide by, adding that the guidelines provide a comprehensive checklist for the citizens to correctly identify and have a competitive list of registered individuals/organizations to avoid doing business with unregistered Real Estate practitioners in the system.
 
Sanwo-Olu said the private sector must collaborate to prevent the proliferation of fraudulent activities in the real estate market.
 
“The emerging trends and practices in this sector in recent time call for increased vigilance on the part of all genuine practitioners and the government in view of the rate of reported cases of dubious acts by some real estate agents who are taking undue advantage of the market which has become one of the fastest growing in Nigeria and Lagos State in particular as a result of increasing population,” he said.
 
The Governor pleaded with residents and everyone interested in the real estate business to be cautious in any financial transaction they engage in by fact-checking the track records of the organisations they are dealing with to ascertain if the individual or organisation is registered with LASRERA and other relevant government Agencies in the sectors.


 
On her part, the Special Adviser to Lagos State Governor on Housing, Mrs Toke Benson-Awoyinka, who oversees the Lagos State Real Estate Regulatory Authority, LASRERA said that the Real Estate Sector has been plagued with risks and losses which have been critical issues for those in the Sector.
 
Benson-Awoyinka said that the quest for transparency in business transactions in the Real Estate Market necessitated the need for the involvement of the government in the regulation of the Real Estate Sector.
 
She said Lagos State Government was determined to ensure sanity was restored to the State’s Real Estate Environment with the review of the Agency’s law.
 
 “Impersonation in the Real Estate Industry is becoming unethically high which is contributing to the increase in the fraudulent activities in Real Estate Market, hence the need for Government intervention.
 
“This development calls for appropriate regulation, implementation and enforcement of the Real Estate Laws in order to restore sanity into the sector and instil public confidence in the real estate profession and it explains why the Lagos State Real Estate Regulatory Authority – LASRERA is mandated to regulate and register those individuals/organisations who are involved in this Sector.
 
“One significant potential risk involving the Real Estate Market is identifying the Real Stakeholders of this Market, and in doing this, there must be Watchet to Monitor activities of operations towards the development of the Sector effectively.
 
“As an integral part of the Real Estate Environment, Government’s regulations must address the ethical standards of potential risk in terms of losses for the protection of the citizenry’s investments,” Benson-Awoyinka said.

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NiMet And FUPRE To Partner On Weather Observation, Research And E-Learning

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NiMet And FUPRE To Partner On Weather Observation, Research And E-Learning

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The Nigerian Meteorological Agency (NiMet), is to collaborate with the Federal University of Petroleum Resources Effurun (FUPRE),Delta state, on weather observation, research and e-learning.

Left to Right: Professor Charles Anosike, Director-General and Chief Executive Officer of NiMet, and Professor Akpofure Rim-Rukeh, Vice Chancellor, Federal University of Petroleum Resources Effurun (FUPRE), Delta state, at the signing of a Memorandum of Understanding (MoU), between NiMet and the university on Thursday, 16th May 2024.

This was disclosed by the Director-General and Chief Executive Officer of NiMet, Professor Charles Anosike, on Thursday, 16th May 2024, at the signing of a Memorandum of Understanding (MoU), between NiMet and the university.

Professor Anosike observed that oil companies have weather stations spread across the shores of Nigeria, which are illegal according to the new NiMet Act. He said that these weather stations need to be registered with NiMet in compliance with NiMet Act and solicited the collaboration of the University to achieve this.

Speaking further, Professor Anosike noted that the partnership with the petroleum institution will not only help improve data gathering on climate risk in the area, but also strategically make NiMet become the centre of excellence in disseminating the risk to the oil and gas sector.

“I will like the Federal University of Petroleum Resources Effurun (FUPRE), to take advantage of NiMet’s e-learning services that will soon be unveiled. It would actually fast-track introduction of joint courses between FUPRE and NiMet”, Professor Anosike concluded.

On his part, the Vice Chancellor of FUPRE, Professor Akpofure Rim-Rukeh disclosed that the institution expects support from NiMet in the installation of observatory stations, training personnel on generation of weather data that can support research, journals and academic publications and other good interventions that will impact on the university and its environment.

Amongst other things, the MoU aims to establish a collaborative framework between NiMet and FUPRE for joint efforts in research, training and promotion of activities relating to meteorology/climatology and climate change in Nigeria. Specifically the MoU will have NiMet Install its observatory station known as Resident Observatory Station (ROS) in suitable locations within FUPRE for the purpose of carrying out meteorological activities.

The MoU signing was witnessed by the Director, Legal Services of NiMet, Barr. Shola Gabriel and other staff of the Agency. The Vice Chancellor of FUPRE, Professor Akpofure Rim-Rukeh signed on behalf of the Federal University of Petroleum Resources Effurun (FUPRE) , Delta state, while Professor Anosike signed on behalf of NiMet.

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Tax Conference: Sanwo-Olu, Zulum, Amosun, Other Experts Seek Transparent Tax System to Boost Internally Generated Revenues

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Tax Conference: Sanwo-Olu, Zulum, Amosun, Other Experts Seek Transparent Tax System to Boost Internally Generated Revenues

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Lagos State Governor, Mr. Babajide Sanwo-Olu, and his counterparts from Sokoto and Borno States have emphasised the need to make the country’s tax system more transparent and accountable to Nigerians to boost confidence and voluntary compliance.

The governors made the call at the ongoing 26th Annual Tax Conference organized by the Chartered Institute of Taxation of Nigeria (CITN) in Abuja, with the theme, “Sustainable Tax Culture and Economic Roadmap for Nation Building”.

Speaking at the conference, Governor Sanwo-Olu who was represented by his Special Adviser on Taxation and Revenue, Mr. Abdul-Kabir Opeyemi Ogungbo, said the theme of the Conference was apt and timely given that Nigeria, like many other nations, is currently facing significant economic challenges.

While underscoring the crucial role of a transparent and efficient tax administration in fostering confidence and voluntary compliance among taxpayers, he emphasized the necessity for citizens to witness tangible outcomes from their tax contributions, highlighting the pivotal role taxes play in fueling public services and infrastructural development.

Sanwo-Olu stressed the shift in mindset needed, urging taxpayers to view tax payments not as a burden but as an investment in a better future for Nigeria.

He said building a strong and sustainable future through a robust tax system that fosters economic growth and development had become inevitable.

Sanwo-Olu said, “We must all understand the crucial role taxes play in building a better Nigeria for ourselves and for generations to come.

“The theme also highlights the need for a clear economic roadmap which should take note of the architecture of our developmental ideologies as they are designed to provide the government with the necessary resources to cater for the social needs of its citizens, therefore we need a tax system that incentivizes investment, job creation, and economic diversification.

“We need to explore innovative ways to expand the tax base while fostering a business environment that allows our economy to thrive. The good news is that Nigeria is already taking positive steps in these directions. The recent efforts to streamline state-level taxes and the focus on integrating the growing remote workforce into the tax net are commendable initiatives.”

The governor said, “The CITN plays a vital role in fostering this vital shift. Your commitment to professional excellence and education is instrumental in ensuring a tax system that is fair, efficient, and promotes economic development.”

However, former Governor of Ogun State, Senator Ibikunle Amosun, who declared the conference open, while stressing the need to prioritize growing Internally Generated Revenue (IGR) over relying solely on borrowing to fund national and sub-national budgets, said borrowing to fund the budgets was not the way to go amid the current national economic challenge when “our nation and its constituent states and local governments are going through very difficult times and finding it hard to provide for its teeming populace, acceptable standards of living, employment with the growing population of youths, infrastructure and basic amenities that will make life more meaningful”.

Governor Babagana Zulum of Borno State criticized inefficiencies and corruption in the current tax administration system.

Zulum, represented by the Deputy Governor of Borno State, Umar Kadafur, highlighted the shortcomings of the current tax system, including tax evasion, avoidance, and lack of transparency.

He called for critical reforms to address these issues, including tackling corruption in both the oil sector and governance system. He criticized the political protection of tax evaders and emphasized the importance of transparency and accountability in tax administration.

While calling for critical reforms, he lamented the manipulation and connivance of multinationals with tax administration to short-change the system, he added that this represented one of the hallmarks of corruption in both the oil and governance system.

In his remarks, the Governor of Sokoto State, Ahmad Aliyu Sokoto, said the conference will greatly assist in exploring innovative ways of improving revenue generation in the country.

He said the economic and revenue challenges had made it difficult for governments at all levels to implement their people-oriented programmes, thus the need for the government to devise a means for more funds to provide the dividends of democracy to the people.

The governor said taxation remained a veritable source of resource mobilization for the government adding that his administration would work with CITN to boost IGR in the state.

The Auditor-General for the Federation (AuGF), Mr. Shaakaa Chira, said the country’s tax system was plagued by instances of tax evasion especially by the upper class, multiple taxation and inability to properly account for taxes collected by administrators.

The Chairman of the conference planning committee, Dr. Adeyemi Sanni, noted that for Nigeria to achieve meaningful fiscal development over the long term, it is imperative to establish a tax culture that can withstand economic fluctuations and challenges.

President and Chairman of the CITN council, Mr. Samuel Agbeluyi, emphasized the importance of investing in technology and people at the subnational level to effectively track revenues in the digital space, including cryptocurrency. This, he believes, will help maximize government revenue flow.

Mr. Agbeluyi stressed the need to provide support to revenue authorities through financial and administrative autonomy, empowering them to effectively administer taxes as he noted it is clear that a strategic approach to revenue management is crucial for the overall financial health of the government.

The CITN boss stated further, “This is a thought-provoking topic that requires all of us to put on our thinking hats. As we deliberate, we must recognize that our nation faces significant challenges. Our current economic realities as a country are multifaceted, despite efforts to improve the narrative by the current government.

He said, “The 2024 budget of “Renewed Hope” as we know relies significantly on non-oil revenue, and this trend is expected to continue in the future. Therefore, building a sustainable tax culture capable of significantly improving our tax revenue performance for an effective. economic and capital formation becomes a top priority.”

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Nigeria DigitalSENSE forum @15, gets June date

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Nigeria DigitalSENSE forum @15, gets June date

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The date for the 2024 Nigeria DigitalSENSE Forum on Internet Governance for Development (IG4D) has been unwrapped for Thursday, June 27, by organisers, ITREALMS Media group.

Disclosing this, the Lead Consulting Strategist, DigitalSENSE Africa and Group Executive Editor, ITREALMS Media, Mr. Remmy Nweke, said that this year’s edition marks the 15th edition of Nigeria DigitalSENSE Forum on IG4D series and comes with the theme “IG4D: Innovative Digital Economy & Safer Civic Space in Nigeria” at the prestigious Welcome Center Hotels, International Airport Road, Lagos.

Nweke recalled that in 2009, the Nigeria DigitalSENSE Forum (NDSF) series on Internet Governance for Development made a debut and ever since has been steadfast in rallying stakeholders to take discourse on Internet access, openness, affordability, connectivity and ICT infrastructure among others.

This year, he also said, as NDSF marks 15th years of impacting various Nigeria’s economic sector with yet another series on the theme: IG4D: Innovative Digital Economy and Safer Civic Space in Nigeria.

“It will also be a time for recognition of corporates and individuals for their contributions in deepening Internet penetration, improving access and affordability as well as technological adaptation that begets digital sense in our society,” Nweke said.

NDSF series on IG4D, powered by ITREALMS Media group is hosted by DigitalSENSE Africa, an At-Large Structure (ALS) certified by the Internet Corporation for Assigned Names and Numbers (ICANN), in collaboration with relevant stakeholders including Internet Society (ISOC), Nigeria chapter, Nigerian Communications Commission (NCC), Internet Exchange Point of Nigeria (IXPN) among others.

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