…As Odu’a Investment Ltd launches low housing scheme in Ibadan
Vice President, Prof. Yemi Osinbajo, has disclosed that despite the polarisation of Nigeria’s business environment with lots of challenges as a result of insecurity, uncertainty, political, environmental and cultural disparities, the country still remains one of the topmost hubs for business, trade and investment.
The vice president made the disclosure , at the official commissioning of phase 1 of Westlink Iconic Estate, a joint venture project between Odu’a Investment Ltd and Chapter 4 Estate Ltd, Ibadan.
According to him, Nigeria is ranked 131 out of 190 economies in the world on ease of doing business, referencing the latest World Bank ratings, which he said, is an improvement after moving 15 places from 146 in 2018.
His words: “I am delighted with what I’m seeing here today, this is no doubt, creating a new and vibrant neighbourhood in this part of the country; Oyo State. I am hopeful that with the example you have set, this can serve as a model for many others to follow.”
“The Nigerian business environment has been colored and polarized with lots of challenges spawning fear as a result of insecurity, uncertainty, political, environmental and cultural disparities.”
“In spite of these challenges, Nigeria is slowly but surely checking the boxes when it comes to the ease of doing business, resulting in the country being one of the topmost hubs for business, trade and investment.”
“Nigeria is ranked 131 out of 190 economies in the world on ease of doing business, according to the latest World Bank ratings. This is an improvement after moving 15 places from 146 in 2018.”
“In pursuance of this administration’s goal to further improve Nigeria’s ease of doing business ratings, President Mohammadu Buhari inaugurated the Presidential Enabling Business Environment Council (PEBEC), chaired by my humble self, in July 2016. PEBEC’s primary objective is to catalyse the country’s business environment; and to also maintain a proper business climate.”
“No doubt, the Ease of Doing Business reforms in Nigeria and the appeal to Nigerians in the diaspora, encouraged what we are seeing here today through this magnificent Joint Venture project between Odu’a Investment Company Limited and Chapter 4 Estates Management Ltd. UK.”
He, however, commended the Board and Management of Odu’a Investment Company Limited for initiating the noble project, and ensuring that the First phase of the project is being commissioned in Ibadan, adding that it clearly demonstrated a blend of private partnership which brings about greater dividends.
“What we see here today, confirms that there is a huge opportunity in Nigeria for investments in real estate industry. While government commits to creating an enabling environment, I will advise that we look to the private sector for investments to galvanize growth in the sector. We must indeed, work together to redefine the real estate industry for the future in Nigeria.”
“Once again, I commend the sponsors of this great project, and encourage you to see this achievement as the beginning of what is possible with the blend of private partnership,” Osinbajo said.
In his remarks, Governor ‘Seyi Makinde of Oyo State, explained how his administration in almost four years, has been able to uplift many residents of the state to become proud owners of their dreamt houses.
He noted that the initiative of the Odu’a Investment Company Limited bodes well with the deliberate design of his government to make life more meaningful to the people of the state by opening up the state’s economy and enhance the quality of lives of residents.
Makinde, represented by his deputy, Bayo Lawal, stressed that from the start of his administration in the state, he set out on a four-point agenda which includes security, health, education and expanded economy, using the agribusiness value chain, noting that under the expanded economy platform, infrastructure has been a subset.
“Whether they are roads or estates, the economy of the people of Oyo State has always remained the core of our economic expansion agenda. We have built roads that link the five geopolitical zones of the state and we will continue to be bullish in our developmental strides. We will also continue to support initiatives such as this-building estates that serve our people well.”
“Let me further reiterate that this administration will not relent in its determination to keep facilitating development in a way that the future generation will be proud of.”
“As I congratulate the management of Odu’a Investment Limited for successfully delivering this project, let me assure other business interests and developers that Oyo state is open to business. The vast land we have gives us a competitive advantage which developers and industries can tap into,” Makinde posited.
Earlier in his address, Odu’a Investment Company Group Chairman, Otunba Bimbo Ashiru, noted that the next couple of years will be very exciting for the real estate sector, especially with the emergence of a new generation of potential home owners and renters who are technologically savvy and prioritise comfort.
“We at Odu’a Investment Group are bullish about the immediate future of the Nigeria Real Estate Industry. As one of the largest holders of real estate assets in the country, we see first-hand the immense opportunities across the residential, commercial and industrial segments of the sector. We plan to develop new, and build on existing partnerships to help meet the growing demand for modern and first-class properties and living environments.”
“Over the next 36 months, expected to deliver over two hundred (200) units of residential properties ranging from affordable homes to luxury homes. We also expect to bring to the market at least two new shopping malls in Lagos within that period.”
“The Westlink Iconic Villa, Alakia Project demonstrates our resolve and commitment to working with the best partners in the industry to deliver high quality real estate projects. The Phase 1 is made up of sixty-seven (67) residential units of 3-bedroom apartments, 4-bedroom duplexes and 5-bedroom duplexes.”
“The apartments are serviced with best-in-class facilities and amenities including street lights, treated high pressure pipe borne water, security and waste management facilities. The project was conceptualized with the aim of improving the lives of residents by providing end-to-end living, recreational and retail experiences, and word-class infrastructure.”
“The Phase 2 of the project which will take the number of homes delivered to one hundred and twenty-four (124), and will consolidate on the amenities of Phase 1 with additional facilities such as an indoor swimming pool, other recreational facilities, a multi-purpose commercial complex, a children’s play area, as well as a state-of-the-art community centre, amongst others,” he explained.
