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Real estate potential in Nigeria remains largely untapped — Alonge

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…expresses readiness to partner with FG for economic development

By Kayode Sanni-Arewa

PRESIDENT of the Nigerian Institution of Estate Surveyors and Valuers, ESV Victor Alonge, on Monday said that the potential of the real estate sector as a catalyst of economic growth in the country remains largely untapped.

Alonge, stated this in his welcome address during his inauguration as the 26th President and Chairman of Chairman of Council at the Banquet Hall of the Presidential Villa, Abuja.

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He lamented that the poor state of the real estate sector in Nigeria has continually stifled its capacity to optimally contribute to national economic growth.

He expressed readiness to partner with the government by offering expertise, resources, and support that can enhance the success and impact of the various development efforts of government.

The 26th President and Chairman of Council of the NIESV, noted that real estate remains the most priced and valuable assets all over the world, adding that data obtained from Savills World Research (2023), put the total value of the global real estate assets at US$379.7 trillion at the end of 2022.

According to him, “Real estate remains the most priced and valuable assets all over the world. According to data obtained from Savills World Research (2023), the total value of the global real estate assets is estimated at US$379.7 Trillion at the end of 2022. This outpaced the combined value of global equity and bond assets estimated at $264 Trillion.

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“Real estate is also thrice as valuable as the total value of proven global oil reserves and represents about four times the value of global GDP. According to the data released by the National Bureau of Statistics, the Nigerian real estate sector contribution to the national GDP stands at about 6.87% in 2023. Contrastingly, the real estate sector contributes about 15% to the national economy in Indonesia, a developing and emerging economy like Nigeria.

“More so, in South Africa, the contribution of the real estate sector to national economy is estimated as 11.4% in 2023. The poor state of the real estate sector in Nigeria continually stifles its capacity to optimally contribute to national economic growth.

“Impliedly, the potential of the real estate sector as a catalyst of economic growth remains largely untapped in the country. Our Institution will, therefore, step up our support and collaboration with the Government, especially, in the areas of policy formulation and implementation, Land administration, Asset valuation and management, Housing, Project and Infrastructure development among others, to improve real estate sector’s contribution to our economic development.

“We are ready to be valuable ally to Government by offering our expertise, resources, and support that can enhance the success and impact of the various development efforts of Government. This is our promise,” he said.

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Edo guber: LP’s Akpata remains a front runner, set to capture Edo

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By Kayode Sanni-Arewa

Less than twenty-four hours to the start of voting in Saturday’s governorship poll in Edo State, a rash of fake news has broken out.

Leading parties in the election have had their fair shares of fake news either indicating the withdrawal of their candidates or disqualification by a Magistrate Court or Supreme Court.

For instance, Olumide Akpata of LP was said to have withdrawn from the race and thrown his support for Asue Ighodalo in a statement that read smoothly and appeared convincing.

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THE CONCLAVE sent the statement to Akpata via WhatsApp for confirmed.

He responded by sending the same statement with FAKE NEWS boldly stamped on it.
He said he was set for victory at the poll.

There was also a news flash about the Supreme Court disqualifying Asue Ighodalo of the Peoples Democratic Party, with a sign off: More details coming….

A Magistrate Court in Abuja was also reported to have disqualified Monday Okpebholo of the APC from the poll on account of age falsification.

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The APC campaign organisation had swiftly put a lie to the report by deploying the court papers in the circumstance.

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Guber poll :PDP govs storm Edo to support Ighodalo

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By Kayode Sanni-Arewa

Barely 24hours to governorship election in Edo State, no fewer than two governors elected on the platform of Peoples Democratic Party (PDP) on Friday arrived Benin City.

The governors, Ahmadu Fintiri of Adamawa and Kefas Agbu of Taraba, arrived the state to mobilise support for the party’s candidate, Asue Ighodalo.

Fintiri made this known in a post on his social media page on Friday evening.

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He said : “Just touched down in Edo State alongside my brother, Gov. Agbu Kefas, ahead of the September 21st gubernatorial election. We stand united in support of our Official PDP Nigeria candidate, Asue ighodalo, for a brighter future.”

Edo governor, Godwin Obaseki, who is the PDP leader in the state, had earlier cried out over alleged plot by the All Progressives Congress to rig the election.

As at the time of filling this report, it was unclear if other PDP governors would also hit the state for the election

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Speed Darlington taunt Burna Boy about his grammy award (+Video)

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……. As Speed Darlington queries Afrobeats singer, Burna Boy over his Grammy win.

By Ojomah Austin.

 

Controversial Nigerian rapper, Speed Darlington has sparked controversy with his claims that Burna Boy’s Grammy Award win can be attributed to the influential role of American rapper and entrepreneur, P. Diddy.

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Amid allegations against US rapper, P.Diddy, resulting in his arrest, Speed Darlington suggested that Burna Boy had an intimate relationship with Diddy which paved the way for him to win the Grammy.

Speed Darlington’s bold and contentious assertion comes amidst recent allegations surrounding Diddy, who was reportedly arrested by the Federal Bureau of Investigation (FBI) on charges of human trafficking and racketeering conspiracy.

In a provocative Instagram video, Speed Darlington credited Diddy for Burna Boy’s rapid ascent to international fame and Grammy success, highlighting the American rapper’s significant impact on Burna Boy’s music career.

Speed Darlington openly challenged Burna Boy to disclose the nature of his relationship with Diddy. Suggesting an amorous relationship between the duo, he blatantly asked Burna Boy to reveal how many bottles of oil Diddy used on his buttocks before he was able to win a Grammy.

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In his words:

“It wasn’t long after Burna Boy posted a photo of him and Diddy that he won a Grammy Award. Burna Boy, don’t be offended, but how many oils did Diddy use on your nyash before they gave you the Grammy Award?”.

In response to Speed Darlington’s video, One @oluchukwu_____ wrote: “Akpis confidence need to be studied 😂😂.”

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vibe_with_fiona wrote: “When burna comes for him,make una no say burna too do o?”

godson_allsom wrote: “If there is Grammy for comedians 😂 akpi for done win like 10.”

official_kahlan wrote: “Presido I don tire to defend you 😂 ga zu ike 🙄.”

asikosharon50 wrote: “Very anyhow talk, Burnaboy won Grammy for his hard work and talent . If na Diddy dey share Grammy why him own Artist for him label nor dey win the Grammy? Na him be say Tems dey and wizkid sef they nick people dem work with naa, useless talk …”

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jaytee_yna wrote: “I’m a big fan of Akpi but this is so irrelevant and irresponsible. Burna’s hardwork & God’s grace gave him the Grammy. Okbye!”

lorah_irez wrote: “If person never bèat akpi he no go rest, wetin be this na 😂😂😂.”

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