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Residents Sue Managers of Diamond Estate Lagos

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By Dipo Olowookere

Property owners and residents of Diamond Estate in Ajah area of Lagos have sued the estate’s management at an Epe High Court.

They are alleging breach of agreement on provision of social facilities reached when they purchased land for their buildings.

Hearing of the suit was, however, stalled due to absence of the defence.

The suit was filed through a Writ of Summons by Mr. Faustinus Brai, on behalf of himself and other property owners and residents of Diamond Estate, Sangotedo, Lagos through their counsel, Johnson Bryant.

The second claimant in the suit before Justice Ganiyu Safari is Incorporated Trustees of Diamond Estate Property Owners and Residents Association.

The first and second defendants in the suit are Femab Properties Limited and Diamond Estate Limited respectively.

Although the suit was scheduled for mention, neither the defendants nor their counsel was present in court.

Counsel to the claimants, Paul Olaniyi told the court that he was surprised at the absence of the defence who he said promised to be in court or send a representative, having constantly reminded him of the date for hearing of the suit.

Olaniyi however drew the attention of the court to the issue of the ‘res’ which he said has been tampered with by the defendants.

“The defendants have tampered with the’res’ by leasing a part of the project to a network provider which has installed a mast at the site provided in the residential area.

“My Lord, the defendants have continue to trample on the rights of the occupiers and do not care for their welfare”, he told the court.

Asked by the court, Olaniyi said claimants have opted for trial, having concluded CMC and explored Alternative Dispute Resolution (ADR ) without success.

The registrar, on enquiry by trial judge, said counsel to the defendants called him, seeking for adjournment of the matter to a date in January.

The claimants are asking the court for a declaration that the first and second claimants are entitled to all facilities represented by the first defendants and an order for the provision of all outstanding facilities detailed in the first defendant in its ‘offer prospectus’ and that the facilities shall comply with acceptable international standards.

In the alternative, they asked the court for an order appointing a project manager who shall be responsible for the appointment and supervision of contractors for the provision of the outstanding facilities in compliance with acceptable standards and for same to be at the full expense of the first defendant, Femab Properties Limited.

In addition, they asked the court for a declaration that the second claimant, as a trustee to the beneficial property owners and residents of the Diamond Estate, Sangotedo, Ajah, Lagos are at liberty to decide who manages the joint facilities in the estate and that the unilateral appointment of the second defendant by the first defendant, without the authority of the first claimant and other property owners is ab initio, null and void.

They asked the court for an order of perpetual injunction restraining the second defendant from providing estate management services for Diamond Estate directing and directing the company to vacate the facilities and the estate.

They also want the court to order the first defendant to give an account of all monies paid on behalf of and received from all members of the second claimant.

In their 28 paragraph statement of claim, they averred that the second defendant has consistently shown lack of expertise, ability and capability in managing the facilities in Diamond Estate and left a lot to be desired by the residents and that in a bid to ensure efficient management of the facilities and pursuant to their constitution, have indicated interest in taking over their management as trustees to its members.

Rather, they said the second defendant unilaterally sub-contracted the facilities management of Diamond Estate to Horty Benade Company.

They averred that they have been grossly disappointed and dissatisfied with the services offered by the second defendant despite meetings held with first and second defendants to register their grievances regarding their services and that in a bid to ensure accountability with regard to service charge for estate facilities maintenance, previously paid to second defendant, they resolved at a meeting, to pay the said service charge to the second claimant’s bank account.

They said that prior to that, the first claimant and other property owners had been paying their service charge to the second defendant through the first defendant.

They said that they allowed themselves to be persuaded by the first defendant to allow the management of the estate’s facilities by the second defendant notwithstanding its unilateral appointment and engagement by the first defendant.

According to them, the first defendant has till date continually refused and failed to provide most of the facilities as represented in its offer prospectus despite consistent entreaties made to this effect by the second claimant to the first defendant, while those provided are yet to be completed.

They contended that since their resolve to cede maintenance of the estate facilities to the second claimant, it has by virtue of its constitution registered with the Corporate Affairs Commission, reserves the power to manage the affairs of the estate.

However, the defendants, in their joint statement of defence and counter claims, while admitting the averments of the claimants in paragraphs 1, 4, 5, 7, 9, 10, 11 and 20 denied paragraphs 2, 3, 8, 12 to19 and 21 to 26.

The defendants, challenged the claimants to produce the originals of the documents in their possession that are relevant to the suit in court.

They expressed surprise at the suit and averred that it was to embarrass and sabotage their business and contended that the claimants are not entitled to any of the relief sought from the court.

They contended that the action of the claimants “is frivolous, vexatious, embarrassing, unfounded, gold digging and should be dismissed with substantial cost.

They argued that contrary to the claims of the claimants, the right to manage Diamond Estate was irrevocably vested in the first defendant in line with code of conduct duly executed by all the property owners.

While contending that they have capacity and personnel to manage facilities provided in the estate prudently and efficiently, they also alleged that the claimants have been forcing the residents of the estate to be paying service charge to them and thereby frustrating their effort to meet its obligation to the residents.

The defendants claimed to have been transparent in its dealing with the residents with regards to spending of service charges received from them and rendering account to the property owners and residents consistently, even when they did not demand for them.

They denied ever holding any meeting with the second claimants but only with the residents of the estate to discuss issues of their welfare.

They averred that the first claimant registered the second claimant without their knowledge and consent and property owners of the estate.

They further averred in their counter claim that the name that was approved by residents of Diamond Estate to be registered at a meeting held November 2015 was Diamond Owners Association.

Justice Safari has adjourned the matter to December 5 for trial, having obtained the commitment of the claimants’ counsel to inform the defence of the new trial date.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Watt Renewable Secures $15m Loan for Hybrid Solar Power Plants in Nigeria

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Oluwole Eweje WATT Renewable Corporation

By Dipo Olowookere

A $15 million debt facility has been obtained by Watt Renewable Corporation from the AfriGreen Debt Impact Fund to finance hybrid solar power plants to be built and operated by the former, especially in Nigeria.

WATT intends to use the projects to serve commercial and industrial clients in Nigeria, particularly in the telecommunication and financial services sectors.

By integrating solar hybrid solutions, the firm aims to significantly reduce diesel consumption and CO2 emissions, enabling its clients to achieve substantial energy cost savings while promoting environmental sustainability.

As a pioneer in renewable energy solutions, WATT continues to drive innovation in Nigeria’s energy sector.

The company’s robust roll-out plan includes deploying hundreds of hybrid solar power sites nationwide to meet the growing energy demands of commercial & industrial clients.

This strategic expansion aligns with WATT’s vision to revolutionize energy access across Africa, enabling sustainable development and reducing reliance on fossil fuels.

The funds from AfriGreen provide the critical capital needed to accelerate WATT’s ambitious projects, strengthening its market position and empowering businesses with reliable and affordable energy solutions.

Business Post gathered that to mitigate the currency risk for WATT in the event of devaluation of the Nigerian Naira, AfriGreen is offering a local currency facility that matches the payment structure of the power purchase agreements.

“We are thrilled to partner with AFRIGREEN on this transformative journey to expand reliable and sustainable energy solutions across Africa.

“With this support, it enables us to accelerate our shared mission of providing hybrid solar power to businesses, reducing carbon emissions, and supporting economic growth while enhancing energy security for our clients,” the Managing Director of WATT, Mr Oluwole Eweje, said.

“We are delighted to support WATT in rolling out hundreds of hybrid sites across the country.

“This represents another key transaction for AFRIGREEN in Nigeria. The combination of high energy prices, good solar irradiation, and strong demand from industrial and commercial energy users makes this market particularly attractive for companies like WATT.

“By leveraging these favourable market conditions alongside WATT’s exceptional operational performance and a well-structured financing solution, we are setting the stage for a strong and lasting business partnership,” the Managing Director of AfriGreen, Mr Alexandre Gilles, stated.

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NMDPRA Denies Restricting Gas Supply to Gencos

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ANOH Gas Plant

By Adedapo Adesanya

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has denied issuing a directive that gas supply to power generating companies (GenCos) be halted.

In a statement on Wednesday, the authority also denied instructing wholesale gas suppliers to stop further supply of gas to companies due to failure in payment obligations.

The NMDPRA described reports stating that it has directed the stoppage of gas supply to GenCos over N2 trillion debt as “false and completely unfounded”.

“It has absolutely no bearing on the information shared at a recent stakeholders’ engagement held in Lagos between the Authority, the OPTS, IPPG and other stakeholders in the oil and gas industry,” the NMDPRA said.

“The purpose of the engagement was to sensitise stakeholders on the requirements, opportunities and benefits associated with the implementation of the wholesale supply license as provided by sections 142 and 197 of the Petroleum Industry Act (PIA) 2021.

“It was a follow-up to an earlier stakeholder engagement held at the NMDPRA corporate headquarters in Abuja on November 27, 2024.

“The Authority wishes to reassure all our stakeholders and indeed the general public that at no time was the false statement made at that event and anywhere else, and are advised to completely disregard the publication as every effort is being made to ensure that the supply and distribution of natural gas and petroleum products to end users is seamless and unabated as we head into the festive season and indeed all through the coming year 2025.”

Recall that Nigeria’s national grid experienced another collapse on Wednesday, the 11th time in 2024 as Gencos couldn’t generate enough power, compounding issues facing the Nigerian power sector.

This was the first time in over a month as the last time the nation witnessed a nationwide shutdown in electricity supply was on November 7, 2024.

Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.

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Power Outage in Nigeria as National Grid Collapses

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national grid collapse

By Aduragbemi Omiyale

Nigeria is currently experience a cut in power supply after the national grid collapsed for the 11th time in 2024.

This is the first time in over a month as the last time the nation witnessed a nationwide shut down in electricity supply was on November 7, 2024.

Before then, the country was experiencing an incessant collapse of the grid, which prompted the federal government to set up a team to address the issue.

However, just when Nigerians were thinking they will not witnessed another national grid collapse in the year, it issue reared its ugly head again.

On Wednesday afternoon, most of the energy distribution companies suffered power outage, prompting them to inform their customers of the situation.

One of the DisCos, Ikeja Electric Plc, in a message to electricity consumers under its franchise area, said, “Please be informed that we experienced a system outage today, December 11, 2024, at about 13:32 hours affecting supply within our network.

“Restoration of supply is ongoing in collaboration with our critical stakeholders. Kindly bear with us.”

Recall that on Tuesday, in a report, Google listed national grid as one of the top trending searches by Nigerians this year.

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