General
Propertymart Allocates Plots to Subscribers at Fairmont Hilltop Estate
Subscribers to the Fairmont residential scheme, a home ownership initiative by Propertymart Real Estate Investment Limited, a leading real estate company, have commended the company for delivering on its promise of instant physical allocation of plots upon payment of 30 per cent initial deposits.
The subscribers gave the commendation at the weekend when they were allocated their plots of land at Propertymart’s The Fairmont Hilltop Estate, Alagbado, Lagos State.
One of the allottees, Suraj Wahab, praised the company for its commitment to helping prospective home-owners achieve their dreams of home ownership conveniently and transparently.
He said, “I commend Propertymart for staying the course. I knew the time they started the Fairmont Scheme at Arepo, but I never believed it would be a reality. I thought it was just a 3D imagery. Some weeks ago, when I went there, I was surprised that the structures I saw on display then were actually on ground and people have been living there. That was what spurred me to give this a try.”
Wahab also hailed the company’s consistency, noting that it’s not easy for a business to have survived 10 years if it wasn’t doing things right. “For a company to begin operations and still be waxing strong in 10 years means they are doing something right. Besides, there are solid pieces of evidence to show for their activities. It is commendable.”
Another investor, Lateef Raheem, who came with his wife and children, also praised Propertymart and The Fairmont Estate, noting that the company is bringing Magodo’s standard to Alagbado.
He said, “Fairmont Hilltop Estate is going to be an excellent location to build our home. We are looking at the standard of Magodo here in Alagbado, with the view and the structures. Propertymart is genuine, a big thump up for them.”
Also, an elated Mrs. Funke Balogun-Odu, another subscriber, said: “I just paid 30 per cent, and the allocation has been given to me. The environment is cool, it looks like a country home. I’m delighted with my relationship with Propertymart, and I will be telling others about The Fairmont Hilltop Estate.”
One of the early investors in the residential scheme, Mrs Ogechi Onyedum, expressed happiness and satisfaction with the estate, noting that, “The environment is very nice, serene and is on a hilltop which gives you a beautiful view. I can boldly say that Propertymart delivers on their promise, and I will refer them to others.”
While commending the beautiful location and Propertymart’s integrity, another allotee, Mrs. Adejoke Atiku, said it was a dream come true for because she didn’t believe initially that she would get her allocation once she paid the 30 per cent deposit.
“This estate is going to be a very standard place; I really appreciate the location. I know the company wants it to be a mega estate, and it will certainly stand out. The payment is instalment, and I’ve not been disappointed; there’s transparency in the process. Mere looking at this environment, I can see it’s going to be a megacity in a short while”, she enthused.
Speaking on the Fairmont Advantage Offer, Deputy Managing Director, Propertymart Real Estate Investment Limited, Mr. Abimbola Arasi, said it was a unique offer to help many more Nigerians own their homes while restating the company’s commitment to continue to develop innovative solutions to cushion the effect of harsh environment inhibiting home ownership.
He said, “The majority of our clients are amazed that we can come up with such an innovative idea to help them own their homes in this harsh economy. Many of our clients have been expressing gratitude over this product, but they should expect more from us because we are a customer-friendly organisation. We are always thinking of them, their needs, and how we can meet them.”
Arasi added that the offer is a pocket-friendly way of getting one’s home because, “once you make 30 per cent down payment, you sight your plot. In Africa, we believe that an individual only becomes a full adult when he/she owns a home, and we are committed to helping our clients meet this need. We encourage our prospects to pick on time before it’s exhausted.”
He further encouraged everyone interested in enjoying the offer to visit www.propertymartltd.com or send a mail to [email protected], as the offer will be closing soon.
The Fairmont Advantage Offer is the first-of-it-kind home ownership initiative in the Nigerian real estate sector that enables prospective subscribers to take ownership of their plots upon the payment of 30 per cent deposit which starts from N1.1million. An additional benefit is that the plan is flexible as subscribers are allowed to spread the remaining balance of outright price across six months after the initial deposit.
“The Fairmont” serviced plots strategically located in Arepo, Lekki-Ajah and Alagbado respectively, are not only affordable but also allow clients to live in safe, beautiful environments with well-defined perimeters.
Other positive features of The Fairmont by Propertymart are its eco-friendly environment, top-grade infrastructure including paved roads, CCTV, electricity, street lights, drainage and green areas amongst others.
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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