General
Lagos Unveils Portal to Curb Real Estate Fraud
By Adedapo Adesanya
The Lagos State government has unveiled a portal to register all estate agents in the state in order to curb real estate frauds.
The Special Adviser to Governor Babajide Sanwo-Olu on Housing, Mrs Toke Benson-Awoyinka, said the portal, www.lasrera.lagosstate.gov.ng, would be used to register all real estate businesses.
Mrs Benson-Awoyinka said this was with a view to monitoring activities of estate agents and prosecution of the fraudulent ones.
She said that the portal would end the era of fraudulent practices in the real estate sector.
According to her, the state government will no longer tolerate activities of estate agents who defraud Lagos residents on the pretence of securing accommodation or any form of property for prospective buyers or tenants.
”We are well aware of the trend of fraudulent practices of some real estate agents and property developers.
”This is reflected in the complaints received by the agency in recent time of residents who had fallen victims to fake real estate practitioners and property developers, while seeking for accommodation, purchasing and selling of properties.
”As you all know, Lagos State has been the commercial and economic nerve centre of Nigeria and Africa with investment opportunities, hence, the net migration to the state.
”The state government has worked tirelessly over the years to curb the increasing fraudulent practices in this sector, and this explains the need to sanitise the industry,” she said.
The governor’s aide said that the state had been able to prosecute one of such so far and was in court with others.
She said that recently, a lady from the US was duped of N30 million by a particular company with offices in Victoria Island and Magodo.
”We have cases of about 70 people defrauded by some agents. Also, I’m aware of a case of 30 people defrauded by another agent.
”There are instances where agents defrauded prospective clients of agency fees of say, N5000, and showing them properties that are not listed or that they do not even know the owners.
”All these are the narratives we want to change. What we are saying is, if you defraud our people, we will prosecute you.
”In line with the T.H.E.M.E.S Agenda of Mr Governor on improving Technology Infrastructure, we are today unveiling the website, social media handles and registration portal for effective management and communication amongst the stakeholders.
“The interactive website would enhance post COVID compliance initiatives and promote transparency.
“It would become a one-stop-shop for stakeholders and government,” Mrs Benson-Awoyinka said.
According to her, the new agency’s website is: www.lasrera.com and registrations portal: www.lasrera.lagosstate.gov.ng.
She said that the robust platform contained a brief history of the agency’s initiatives, aims and goal, commitment to the people, a complaint section, a registration portal which allowed one to upload document.
Mrs Benson-Awoyinka said that the agency remained committed to providing an enabling environment and transparent real estate sector that conformed to international best practices, while safeguarding the ultimate interest of all the stakeholders.
According to her, from now, to practice in Lagos as an agent, one must be registered on the website, be at least, a school certificate holder, must have an office as individual, and if an organisation, it must have a board or management team.
”Every agent that is registered will be put on a portal, a compendium which will have all listed agents for easy tracking and follow up. This is part of the purpose of the registration,” she said.
The special adviser, however, said that the state government does not charge any amount to defend Lagosians who felt the need to be defended in the court of law.
She said that there was now a change in the name of a Department under the Ministry of Housing, formerly known as Lagos State Real Estate Transaction Department, to Lagos State Real Estate Regulatory Authority (LASRERA).
Mrs Benson-Awoyinka said that the change in the name also upgraded the department to a full agency that would be supervised by the Office of the Special Adviser to the Governor on Housing.
General
Nigeria-China Strategic Partnership to Deepen Economic Ties
By Adedapo Adesanya
The Director-General of the Nigeria-China Strategic Partnership (NCSP), Mr Joseph Tegbe, is currently visiting China to bolster China-Nigeria relations and foster economic and sustainable development between both countries.
The DG, with the Nigerian delegation, on Monday was at the headquarters of the National Development and Reform Commission (NDRC) of the People’s Republic of China where the NDRC Deputy Chairman received them, Mr. Zhao Chenxin, and other top officials, as well as the Nigerian diplomatic community and the Chinese Business Community.
Mr Tegbe is expected to cement strategic agreements in line with President Tinubu’s vision, with China for national growth and in vital sectors of the economy such as agriculture, to boost food security, alternative energy for developing renewable energy sources, healthcare, mining for harnessing Nigeria’s mineral resources to drive economic growth, education to strengthen Nigeria institutions and promote cultural exchange.
Other areas include technology, to foster innovation and advancement, and the support initiative of China’s Belt and Road Initiative (BRI).
The visit of the NCSP ‘s DG underscores the federal government’s commitment to establishing strong bilateral relations and supporting Nigeria’s economic diversification plans, infrastructure development, technology transfer, and job creation to foster mutually beneficial collaboration between the two nations.
Through this initiative, Nigeria can leverage its resources and human capital to develop key industries, bolster infrastructure, and enhance youth capacity through skills acquisition programmes.
On Monday, the DG NCSP and his team visited the CCECC Head Office, had dinner with the CHEC, and will on Tuesday, visit the Governor of the Central Development Bank, the Ministry of Foreign Affairs, and the China Export, Import Bank, as well as the China Development Bank. They also met with Power China Representatives.
They will on Wednesday, visit the Chief Harbour, the CHEC, CNCEC, and the CCECC Chairman, before moving to the CSCS Haishen Medical on Thursday, the CCECC, the China Building Materials, amongst others.
They will on Monday, 20th January, visit the Consulate General/Trade Mission Office, the Yang Shang Deep Sea Port, and Danghai Bridge (Sea).
The team is also expected at Huawei, before going to the CEC/ Long UAV, for a meeting with Diana Chen on Saturday, before returning to Nigeria.
This initiative comes on the heels of President Bola Tinubu’s official visit to China before the 2024 Forum on China-Africa Cooperation (FOCAC), where he had talks with China’s President Xi Jinping on improved economic cooperation, with the latter pledging 360 Billion Yuan, (about $51 billion), financing to African nations in the next three years, and support for 30 infrastructure projects to boost connectivity across the continent.
Last week, Chinese Foreign Minister Wang Yi visited Nigeria to reinforce the growing partnership between China and Africa, especially Nigeria, with discussions on strengthening economic ties, enhancing security cooperation and mutual developmental goals.
As Nigeria, Africa’s largest economy, seeks to become a net exporter to China in the next five years, the consolidated partnership is aimed at playing a crucial role in achieving this goal.
The country also remains China’s major partner on the continent for trade and technology investments.
General
Adelabu Claims Power Generation Rose 30% in 2024
By Adedapo Adesanya
The Minister of Power, Mr Adebayo Adelabu, said power generation in the country increased by about 30 per cent in 2024, but missed crucial targets in the review year.
Mr Adelabu made the disclosure during his ministry’s 2025 budget defence before the Senate Committee on Power at the National Assembly complex on Monday.
He said that when he assumed the leadership of the ministry in 2023, he met an average of 4,100 megawatts of power generation.
“I can tell you authoritatively that by the end of 2024, we had a peak generation of 5,528 megawatts of power from 4,100 megawatts that we met on ground and the reason for this is not far-fetched. We added a new hydroelectric power dam, Zungeru, with 700 megawatts.
“There was also a tremendous increase in the generation lines by other existing generation companies,” he said.
The Minister said that the target for power generation was 6,000 megawatts, adding, however, that due to the challenges experienced toward the end of 2024 in terms of grid collapses, the ministry missed the target by a minimal margin.
He further said that apart from energy access expansion, the sector had plans to stabilise the grid and other transmission infrastructure.
“I’m happy to also inform you that out of the eight collapses of the national grid that we experienced during 2024, five were full collapses, while three were partial collapses.
“Out of the five full collapses, three were actually due to generation problems. So, as against the 12 collapse that were publicised, it was just about eight collapses.
“We have been trying very hard to ensure that we manage the grid that was inherited.
“Unfortunately, it is still very old. It is dilapidated. And we are just managing it until we are able to fix it permanently.
“This is the focus of the Presidential Power Initiative, to ensure that the entire grid is revamped so that we won’t be having all this vandalism.
“So these are the summaries of our activities. And we are proud to say that we almost met all our targets for 2024.
“Our hope is that 2025 will be a better year for us, and we will be able to address all the existing issues in the sector,” he said.
General
Sanwo-Olu Denies Involvement in Obasa’s Removal as Lagos Speaker
By Dipo Olowookere
The governor of Lagos State, Mr Babajide Sanwo-Olu, has refuted claims that he was involved in the removal of Mr Mudashiru Obasa as the Speaker of the Lagos State House of Assembly.
Mr Obasa was impeached on Monday after being on the seat since 2015 by 32 of the 40-member state parliament for alleged gross misconduct.
The action was carried out while the Speaker was away in the United States, with Mrs Mojisola Meranda elected as his replacement, becoming the first female to occupy the position.
It happened a few weeks after Mr Obasa said during the presentation of the 2025 budget by Mr Sanwo-Olu that he was qualified to be the governor of the state and even better than those who have occupied the position.
This statement by the former Speaker was seen as an affront on the previous governors of the state, including President Bola Tinubu, who governed Lagos between 1999 and 2007.
It has been speculated that Mr Obasa kept Governor Sanwo-Olu waiting for long during the budget presentation last month. It was claimed that this action infuriated the governor and leaders of the ruling All Progressives Congress (APC).
Yesterday, members of the parliament in Lagos said they had had enough of Mr Obasa, moving to remove him from office.
As this happened, there were claims that Mr Sanwo-Olu instigated members of the Lagos State House of Assembly to impeach the former Speaker.
But the governor, through his Special Adviser on Media and Publicity, Mr Gboyega Akosile, distanced himself from the impeachment, emphasising that it was purely a decision of the legislative arm of government.
“This is a legislative matter, and the Assembly handled it as they saw fit. The governor has no involvement,” Mr Akosile, who once served as the Chief Press Secretary (CPS) of Mr Sanwo-Olu, said in an interview, noting that his principal does not interfere in the other arms of government.
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