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Nigeria’s Housing Deficit Requires Top-notch Solutions—Mixta Africa

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Mixta Africa

By Modupe Gbadeyanka

To bridge the huge housing deficit gap in Nigeria, top-notch solutions must be developed and they must be a win-win situation for consumers and investors.

This is the view of Mrs Sade Hughes, the Country Manager for Mixta Africa, one of Africa’s largest indigenous real estate companies.

Reflecting on the company’s sterling performance in 2021, the real estate expert remarked that the estimated housing deficit of over 17 million residential units in the country requires a robust strategy to tackle.

According to her, Mixta Africa is well-positioned to solve the issue, stating that successes recorded in countries where it operates are evidence of this.

She said the firm plans to introduce more revolutionary real estate solutions, including the construction of additional luxurious homes and then enlist mortgage finance schemes aimed at encouraging prospective homeownership.

“We are working round the clock to ensure more and more Nigerians own properties at the best of deals. Our purpose is to build communities and provide enough homes for different classes of Nigerians and Africans.

“Part of this strategy is our decision to develop more affordable houses and engage mortgage providers to make more Nigerians own homes with easy payment plans,” she disclosed.

On her part, the Head of Marketing, Ms Onome Umukoro, hinted that the company’s estate projects such as the Obudu Villas, Beechwood Park 1 & 2, Adiva Plots and Cove Lofts were all sold out in 2021, while Lakowe Heights, Marula Park, Expressview Estate in Abuja, Adiva Plainfields/new release, commercial plots and the Residence Goree located in Senegal are all currently selling and on high demand.

“Our vision is to deliver urbanized and modern cities across the continent of Africa and we have garnered appreciable milestones in our estate projects. Our company has successfully developed more than 13,500 residential and retail units across 8 countries on the continent.

“We are currently present in 8 countries across Africa with full operations in Nigeria, Senegal, Côte d’Ivoire, Morocco, and Tunisia but projects in Mauritania, Algeria and Egypt,” Ms Umukoro said.

She highlighted other achievements of the company, including the provision of affordable houses within the developing township programme tagged Lagos New Town.

“Lagos New Town is a development concept where we host some of our most notable products including Lakowe Lakes Golf and Country Estate, Beechwood Estate and Adiva Plainfields. The idea is to provide housing for a different cadre of homeowners with exquisite and luxurious aesthetics with comfort and convenience in mind,” she added.

Mixta Africa founded in 2005 by a group of brilliant and innovative minds has continued to blaze the trail in the real estate market, building sustainable communities across many African countries.

The company has been variously awarded Great Place to Work Silver, Best High-End-Real Estate Company awarded by African Property Investment Awards and Fastest Growing Real Estate Developer in Africa 2021 by Global Brands Magazine.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Court Rules FCCPC Can Sanction MTN, Airtel, Other Telcos

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FCCPC

By Adedapo Adesanya

A Federal High Court in Lagos has ruled that the Federal Competition and Consumer Protection Commission (FCCPC) has the legal authority to regulate competition and consumer protection in all sectors, including telecommunications.

The ruling of the court on Friday, February 7, 2025, affirmed the agency’s statutory authority to regulate competition and consumer protection across all sectors, including telecommunications despite the Nigerian Communications Commission’s (NCC) role in the industry as contained in the FCCP Act of 2018.

The protection body in December threatened to sanction the telcos amid an investigation due to the poor service offerings to customers.

The court dismissed a lawsuit by an MTN shareholder, Mr Emeka Nnubia, who sought to block the FCCPC’s investigation, ruling that the agency acted within its powers in summoning MTN and requesting information, which did not violate data protection laws.

Mr Nnubia argued that the FCCPC’s inquiry could violate data protection laws and that regulatory authority over MTN resided with the NCC rather than the FCCPC.

The ruling clarifies that while the NCC regulates telecom operations, it does not have exclusive authority over competition issues, reinforcing the need for cooperation between regulators while affirming FCCPC’s primary role in competition and consumer protection enforcement.

The ruling also confirms that FCCPC acted within its statutory powers in issuing a summons to MTN Nigeria as part of its ongoing inquiry into potential anti-competitive practices.

On the issue of cost, the court acknowledged that the case raised important questions regarding the evolving landscape of competition and consumer protection law in Nigeria.

While the court recognised that costs ordinarily follow events, it declined to award costs due to the public interest significance of the case.

The court also held that entering into a Memorandum of Understanding (MoU) with sector regulators is not a condition precedent for FCCPC’s enforcement of its statutory functions. Instead, it is the obligation of sector regulators to engage with organisation to define working arrangements, not the other way round.

The development was welcomed by the FCCPC in a statement on Sunday, noting that it floored MTN at the court.

“The ruling reaffirms that FCCPC’s jurisdiction remains paramount in competition and consumer protection matters, while also recognising the role of the NCC in regulating telecommunications operations,” the statement said.

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FG Pledges to Revive Atlantic Refinery Project

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Atlantic Refinery Project

By Adedapo Adesanya

The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has expressed dismay over the abandonment of the Atlantic Refinery project in Brass Local Government Area of Bayelsa State, promising to rejuvenate it.

Mr Lokpobiri made this commitment during an inspection visit to Ewa-ama Road, which leads to the Brass Petroleum Products Terminal (BPPT), where he engaged with key community stakeholders.

He assured stakeholders that the federal government would review the project to ensure its eventual completion.

“The federal government remains committed to completing critical infrastructure projects that drive economic growth and improve livelihoods. This project will be thoroughly reviewed to ensure its eventual completion,” he pledged.

The Minister commended the people of Brass for their peaceful disposition despite the challenges posed by the refinery’s abandonment, urging them to sustain the peace.

“Stability is crucial for attracting further investments and development to the region,” he emphasised.

Reaffirming President Bola Tinubu’s commitment to delivering on key development projects, Mr Lokpobiri reiterated that the government remains dedicated to advancing initiatives that will benefit the Niger Delta.

The Minister was accompanied on the visit by Mr Farouk Ahmed, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as part of efforts to assess and fast-track key projects in the region.

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Obi Urges Transparency, Accountability as 2025 Budget Swells 9%

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Peter Obi Prioritize Economic Recovery

By Adedapo Adesanya

The presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, has called for transparency and accountability as a result of the recent increase in the 2025 budget by 9.1 per cent to N54.2 trillion.

Mr Obi, in a message on X, the social media platform formerly known as Twitter, said while the sources of revenue were detailed, there was no corresponding breakdown of expenditures to justify the budget increase.

President Bola Tinubu on Wednesday raised the proposed budget by 9 per cent from N49.7 trillion to N54.2 trillion, citing additional revenues generated by key government agencies such as the Federal Inland Revenue Service (FIRS), the Nigeria Customs Service (NCS), and other government-owned agencies.

Mr Obi, in his message, stressed the need for Nigerians to be informed on how public funds are allocated and spent.

“For transparency and accountability sake, Nigerians need to know how the resources generated from them are being allocated to ensure that they are judiciously spent on the country’s development and the well-being of the people,” Mr Obi said.

He added that budgetary expenditures should be directed toward critical areas of development, including education, healthcare, security, and poverty alleviation, to ensure meaningful impact on citizens’ lives.

“Yesterday, I read about the increase in the Budget of Restoration to ₦54 trillion due to increased revenue.

“While the sources of this revenue were detailed, there is no corresponding breakdown of expenditures to justify the increase. For transparency and accountability sake,” part of the statement read.

He said Nigerians are still waiting for a detailed account of the execution and expenditures of the Renewed Hope budget, which was passed in December 2023, calling on the National Assembly to seize this opportunity to obtain and make public the full details of the 2024 budget of Renewed Hope budget.

He also called on lawmakers and government officials to prioritise openness and accountability to safeguard public trust as preparations begin for the 2025 Budget of Restoration.

“Transparency in this regard is crucial for ensuring accountability, learning from past budgets, and making informed decisions for the nation’s progress.

“As we work towards passing the Budget of Restoration for 2025, let us uphold openness, accountability, and the welfare of the Nigerian people. We owe it to ourselves, our children, and the future of our great nation,” he stated.

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