General
How Landwey is Delivering its Projects Amidst Time Lags, Economic Challenges
It has been two years since coronavirus (Covid-19) hit the globe and fiercely impacted every aspect of human existence.
While it may appear on the surface that the world has made a successful return to business as usual, this is not the reality of most businesses.
This is especially not the case for real estate development companies like LandWey Investment Limited, the largest residential development company in Nigeria.
Since 2020, companies like LandWey have battled different challenges ranging from contractors’ time inefficiencies, inflation and the fluctuating FX which has severely impacted the procurement of construction material.
Speaking on the current challenges being faced by real estate development companies, Olawale Ayilara, CEO, Landwey stated: “There is a lot to be said about the burden of construction in Nigeria. However, at LandWey, we have learnt that construction requires a daily review of our processes and improving on them.
“In the reality in which we currently exist, we are learning to adapt in order to thrive. The companies that survive these challenging times are those who are able to lead with integrity and have a deep understanding of their customers.
“We at Landwey are facing these challenges by being optimistic despite the tough market conditions and devising new strategies that will enable us to create greater value for our customers in the long run. We are bringing together our industry expertise; quality product and service applications, and safe and reliable supply in order to provide more viable solutions,” Ayilara said.
LandWey is internationally recognized for its excellent practice, innovation, designs, and its customer-centric approach to providing quality service.
As a recipient of several awards like the prestigious International Property Award (2021) in recognition of its Urban Prime One Estate project, Business Day’s Real Estate investment company of the year (2019) and Most Innovative Real Estate Company of the Year (2017), LandWey has over the years held itself to a high standard and in a bid to maintain the standard it is recognized for.
The company has taken stringent measures to avoid common preventable disasters peculiar to the industry by ensuring the use of quality building materials and hiring experienced skilled workers who are focused on expediting the delivery of housing units without the risk of compromising the existing standards.
As part of its efforts to deal with the ripple effects of these current challenges, LandWey has constantly improved its communication to clients who may be understandably displeased with the delays. Through routine project updates, an increased workforce and an efficient work plan for delivery, LandWey is also optimizing its processes in order to keep to its promise of quality service to clients.
Landwey boasts of a track record of developments of reputable quality predominantly in the Ibeju-Lekki axis such as Millennial Town, The Apartment, Urban Prime, Northville Estate, and The Milton Estate to name a few.
General
Tinubu in UAE for 2025 Abu Dhabi Sustainability Week
By Modupe Gbadeyanka
President Bola Tinubu on Saturday, January 11, 2025, left the shores of Nigeria for the United Arab Emirates to take part in the 2025 Abu Dhabi Sustainability Week (ADSW 2025).
He was accompanied by the Minister of Foreign Affairs, Mr Yusuf Tuggar, and other senior government officials.
A statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that Mr Tinubu was invited for the event by his UAE counterpart, Mr Mohamed bin Zayed Al Nahyan.
He will attend the programme starting from today, Sunday, January 12 to Saturday, January 18, 2025.
However, President Tinubu is expected to return to Nigeria before the end of the summit on Thursday, January 16, 2025.
The event, themed The Nexus of Next; Supercharging Sustainable Progress, is expected to bring together global leaders to accelerate sustainable development and advance socioeconomic progress.
In addition, it will enable policymakers, business, and civil society leaders to explore pathways to fast-track the transformation to a sustainable economy and evolve a new era of prosperity for all.
ADSW, a testament to the power of collaboration, has been held annually for over 15 years. It provides a global platform to foster multi-stakeholder cooperation in addressing global challenges and accelerating growth.
It has birthed high-value agreements and strategic partnerships between governments, industry leaders, and clean energy pioneers worldwide, driving impactful alliances and advancing the sustainability agenda worldwide.
At the event, President Tinubu will stress his administration’s reforms, including those related to energy sufficiency, transportation, public health, and economic development.
The Nigerian leader and his entourage will also meet with the emirate’s leadership to discuss issues of interest affecting the two nations.
General
Lagos Speaker Mudashiru Obasa Faces Renewed Scrutiny Over Financial Mismanagement
By Dipo Olowookere
The Speaker of the Lagos State House of Assembly, Mr Mudashiru Obasa, remains at the centre of a storm of corruption allegations that have plagued his tenure.
Critics, anti-corruption groups, and opposition leaders have accused him of financial mismanagement, extravagant spending, and abuse of office, yet no substantive action has been taken against him.
Recent reports by People’s Gazette revealed that the 40-member Lagos State House of Assembly, under Mr Obasa’s leadership, spent over N43 billion on “back-up vehicles for honourable members” between January 2023 and the third quarter of 2024.
This expenditure, part of a larger N90.5 billion disbursed for questionable projects, has raised concerns among Lagos residents about the state’s priorities amid widespread economic hardship.
Budget documents showed the Assembly spent about N30.1 billion on vehicles in 2023 and about N13.3 billion in the first three quarters of 2024. Critics argued that these sums, which equate to roughly N1.1 billion per lawmaker, were frivolous.
Mr Obasa has faced allegations of corruptions since early in his tenure, including reports of owning over 60 bank accounts used to misappropriate public funds. In 2019, People’s Gazette reported that the lawmaker conducted suspicious foreign exchange transactions totaling $2.4 million (N1.1 billion). These funds were allegedly funneled through personal accounts and mutual fund investments.
In October 2020, the Economic and Financial Crimes Commission (EFCC) invited the Speaker for questioning over allegations of fraud. Despite evidence of financial impropriety, including allegations of inflated contracts and misappropriated Assembly funds, the EFCC has yet to take decisive action. Protests led by civil society groups like the Civil Society Network Against Corruption (CISNAC) demanding accountability have yielded little progress.
Mr Obasa has consistently denied these allegations. Speaking at a recent plenary, he dismissed claims of spending N17 billion on constructing a gate as “spurious and funny.”
He also refuted allegations of spending N200 million on a nonexistent thanksgiving service, attributing the accusations to political fear-mongering ahead of the 2027 elections.
However, critics have dismissed these defenses as self-serving. A 2020 House panel, composed of Mr Obasa’s allies, cleared him of wrongdoing—a decision labeled a “kangaroo judgment” by anti-corruption advocates.
Prominent anti-corruption campaigner, Mr Olanrewaju Suraju, has urged the EFCC to act on the mounting evidence against Mr Obasa, warning that his actions undermine legislative independence and public trust.
“These revelations justify the urgent need for mechanisms to enforce probity and accountability in public office,” Mr Suraju said.
Despite the scandals, Mr Obasa appears unperturbed and untouchable, with analysts attributing his survival to political connections and an entrenched culture of impunity.
As Lagos State prepares for the 2027 elections, the Speaker’s continued tenure symbolizes a broader challenge of corruption and governance in Nigeria’s political landscape.
Observers now await further developments as pressure mounts on anti-graft agencies to act decisively.
For Lagos residents, however, the scandals highlight a troubling disconnect between political leadership and the needs of the people.
General
Nigeria Suffers First National Grid Collapse of 2025
By Modupe Gbadeyanka
Residents of Nigeria experienced a power outage on Saturday, January 11, 2025, after the national grid collapsed.
It was the first that occurred this year and it happened at about 3 pm today, according to information gathered by Business Post.
Last year, the nation recorded about 12 grid collapse that almost embarrassed the government, which later set up a team to look into the causes of the frequent collapse of the grid.
It was later that today’s incident occurred after power generation went down from 2,111.01 megawatts at 2:00 pm to about 390.20 megawatts by 4:55 pm.
This development caused a cut in power supply in most parts of the country, but the situation has been brought under control, with electricity restored in most affected areas.
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