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Founder, Paradise Investment Network Cooperative (PINCOOP), Mrs Christy Kanu, yesterday advocated equal opporunities for real estate investors,irrespective of status or income level.
She made the call in Lagos during the inauguration of Paradise Investment Network Cooperative (PINCOOP), a real estate cooperative society.
Kanu, who is also General Managing Director of Paradise International Holdings, said PINCOOP would impact lives as it was set to change the narrative in the real estate sector.
She said the inauguration was borne out of her inability to invest in developed properties at choice areas, years back, as that was almost impossible to afford for a low income earner.
“It’s like a situation whereby the rich gets richer and the poor gets just the crumbs, because I had my money and I went into the real estate market and I found out that I couldn’t invest in some developed property in prime locations.
“I was just left with properties in the outskirts of the city, but i wanted to own a property through which I could generate cash flow, through which I could at least get rental returns yearly,
“But it was not possible because the rates were very high.I wanted developed property that would give good rental income and capital appreciation. It was almost impossible and I thought that wasn’t fair.
“The cost was high because of inflation and rising cost of building materials. So basically, I thought about it and I said no, this market does not offer a level playground for the all networks.” she said.
The GMD added that she wondered how medium and low-income earners would be able to benefit from real estate investment with high prices of properties.
According to her, one needs huge capital to own a property in Nigeria, especially in Lagos and some other major cities.
She said she conceived the idea of the cooperative society and co-ownership of properties to enable the ordinary man i benefit from the real estate sector.
“I want a situation whereby both the rich and the poor benefit equally based on their share in a property without a situation where only the rich get richer and the poor gets the crumbs.
“I just want a situation whereby the market is fair. So we’re just basically disrupting the real estate market place so that everybody will get their own share of interest regardless of your income.” She said.
Mrs Kanu said with a minimum of N50,000 ,low income earners like the market woman , could key into the cooperative, to invest and co-own property in prime locations.
“We are looking at bringing out different real estate products for co-ownership, bringing properties that would bring high yoeld to the co-owner or co-investors as we call them.
“Most property in Nigeria has a 99 years lifeline, so you earn rental income for life. So what we are fostering is to ensure that everybody will be able to partake in this real estate co-ownership platform.” she said.
The real estate boss assured investors that it was not an investment scam as assets could be verified including documents backing the existence of PINCOOP.
Mr Azeez Sadiq and Mrs Olorunkemi Salau, both Community Development Officers at Eti Osa Local Government,presented present PINCOOP with certificate of registration and recognition at the inauguration.
Mr Sadiq said the certificate was to recognise the operation of PINCOOP within Eti-Osa Local Government, and most importantly in Lagos State. (NAN)
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President Muhammadu Buhari, yesterday, departed Abuja, for New York, United States, to attend the annual meeting of world leaders, the United Nations General Assembly (UNGA77).
The theme for the 77th session which opened on Tuesday, September 13 is: “A Watershed Moment: Transformative Solutions To Interlocking Challenges.”
Key topics of discussion at the UNGA this year include; the war in Ukraine, the energy crisis, climate action, ending the COVID-19 pandemic, and a special Transforming Education Summit.
A statement by the Special Adviser to the President on Media and Publicity, Chief Femi Adesina, yesterday, explained that Buhari would take his turn to deliver the National Statement on the second day of the General Debates on Wednesday, September 21.
“Aside his statement, the President will also participate in high level meetings and side events, including the Nigeria International Economic Partnership Forum (NIEPF), convened by Nigeria in partnership with the Business Council for International Understanding (BCIU) on ‘Strengthening Coordination through National Humanitarian Development Peace (NHDP) Framework: A Practical Approach To Sustainable Durable Solutions To Ensure No One Is Left Behind’, organised by the Ministry of Humanitarian Affairs, Disaster Management and Social Development; and the EFCC-NEPAD Programme on combating illicit financial flows,” the statement said.
It further said, “President Buhari will also hold strategic bilateral meetings with world leaders, renowned investors and heads of multinational organisations while in New York.”
On the entourage of the President are the First Lady, Aisha Buhari, some governors, ministers and top government officials.
The President is expected back in the country on Monday, September 26.
Meanwhile, Nigeria will host Microsoft founder, Bill Gates; President of Dangote Group, Aliko Dangote; and Facebook Chief Executive Officer, Mark Zuckerberg; among others at the second edition of the Nigeria International Economic Partnership Forum (NIEPF) holding on the sidelines of the ongoing United Nations General Assembly in New York, the United States.
Scheduled for Thursday, September 22, 2022, the high-level event will feature “speakers and panellists, including Chairman of Dangote Group, Aliko Dangote; Founder of Microsoft, Bill Gates; Chairman, Business Council of the United States and Chief Executive Officer, Microsoft Corp, Satya Nadella; US Secretary of State, Antony Blinken; and President of the Corporate Council on Africa, Florie Liser,” a statement signed by the Spokesman for President Muhammadu Buhari, Garba Shehu, read, yesterday.
The statement titled, ‘Nigeria hosts Global Investment Forum in New York,’ read in part, “In its continued bid to further open up the country’s economy to international capital and attract foreign investment, the Nigerian government, in collaboration with the Africa Business Roundtable, is organising Nigeria International Economic Partnership Forum.
“The NIEPF is expected to draw the presence of world leaders in politics, economy, media as well as civil society organisations and international media to focus on the vast economic potentials of Nigeria and Africa’s leading economy.
“Most significantly, President Buhari will deliver the keynote address at the event and will also host a High-Level Presidential Session with fellow presidents and heads of delegations on Issues That Need Joint Action for African Countries on the Development Drive such as the post COVID-19 recovery and financing priorities; Africa’s Investment Climate and Market as well as De-risking the continent.”
According to Shehu, the NIEPF will bring together top Nigerian government functionaries as well as renowned and highly respected global public and private sector players rubbing minds on Nigeria’s Economic Outlook, focusing on Nigeria in the Global Economy; and International Partnership for Nigeria on the Development Drive.
They include: Members of the Business Council of International Understanding; Minister of Foreign Affairs, Geoffrey Onyeama; Minister of Finance, Budget and National Planning, Zainab Ahmed; US Special Presidential Envoy for Climate; John Kerry; and Executive Chairman of the BUA Group, Abdul Rabiu; who is also the President of the France-Nigeria Business Council.
Others are Mark Zuckerberg; the Director-General of the World Trade Organisation, Dr. Ngozi Okonjo-Iweala; President of the African Development Bank, Dr. Akinwumi Adesina; and Deputy Secretary-General of the United Nations, Amina Mohammed.
Sessions will be cluster around themes such as Growing Nigeria’s Agriculture for Food Security and Access to Export Market with special focus on Impact of the Russia-Ukraine War which presents opportunities for G7/G20-Nigeria Partnerships in Agriculture; Scaling Up International Resources for Financing Education in Africa with emphasis on Making facilities to Link Government, Deal Sponsors and International Pools of Capital in Education; and Nigeria’s Oil and Gas Sector: Reforms, Results and the Road focusing on Scaling Up Investment into the Gas Market—Plants, Parks, Cylinders, Reinjection.
Other issues slated for discussion include: Scaling Up International Resources for Healthcare in Africa bordering on: Upgrading and expanding Nigeria’s Healthcare Infrastructure towards making Nigeria the “healthcare hub” for Africa; Climate Change and Paths to clean environment with emphasis on Paths to Clean Economy, Clean Energy and Clean Development; and Financing Nigeria’s Infrastructure with emphasis on developing infrastructures such as farm to market corridor, farm to ports corridor, export transport corridor, railway network, road network upgrade and expansion, airport upgrade, including dedicated airports for exports, power generation, transmission and distribution.
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No fewer than 13,000 Nigerian graduates and under-graduate students are currently seeking admission into over 1,000 universities in the United States.
This was disclosed by the US Mission Consul General, Will Stevens, at the 21st Annual Education USA College and Career Fairs organised in both Abuja and Lagos.
The students, who were said to be exploring possibilities in studying in United States as well as partaking in the American higher education, expressed optimism of connecting to the global world.
This year’s Education USA College and Career Fair, which took place in Abuja and Lagos, was organised by the U.S. Mission, and featuring visiting representatives from 25 universities and colleges from across the United States.
The fair was augmented by talks by U.S. experts and Nigerian-U.S. university alumni on college admissions and student visa application processes.
Speaking with the students, U.S. Consul General, Will Stevens, said that America remains a leading destination for international students, noting that the United States offers students an unrivalled educational experience, flexibility, and diversity.
According to him, “Over the last two decades, Education USA College and Career Fairs have resulted in an increased number of highly qualified Nigerian applicants to U.S. institutions. Nearly 13,000 Nigerians are currently pursuing U.S. graduate and under-graduate degrees across 1,000 U.S. colleges and universities.
“Nigeria sends more students to U.S. colleges and universities than any other country in Africa, and is the 11th largest source country worldwide of international students to the United States. The vast majority of these students, upon graduation, contribute positively to Nigeria’s public and private sectors and civil society when they return”, he said.
Speaking on the theme, “Exploring Opportunities Post-Pandemic,” Stevens noted that the role of the U.S. Mission in Nigeria was to facilitate and build connections between the United States and Nigeria.
He added that one of the best ways these connections are built, and mutual understanding is fostered, was through educational exchange.
“We are happy to provide Nigerian students, who wish to study in the United States, a unique opportunity to learn about the diversity of the programmes offered at various U.S. educational institutions,” he said.
U.S. Deputy Chief of Mission, David Greene, who spoke in Abuja, expressed gratitude to the students, parents, teachers and all 25 U.S. university representatives, which included admissions officers from leading and diverse institutions such as Howard University, Drexel University, Pace University, University of Oregon, Iowa State University, and University of Tennessee for participating in the fairs.
In both cities, Counsellor of Public Affairs, Adnan Siddiqi; U.S. Mission Education USA advisers; and Nigerian alumni of U.S. universities, joined the visiting U.S. college admissions officers to speak about the benefits of American education and study abroad, and to answer questions about the college admissions process, standardised testing, financial aid, and scholarships and opportunities.
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Operatives of the National Drug Law Enforcement Agency (NDLEA) have arrested an ex-convict, Onyeka Charles Madukolu at the Murtala Muhammed International Airport, Ikeja, Lagos, for importing 5.90 kilogrammes of cocaine concealed in cans of deodorants and ladies’ lip gloss into Nigeria.
In a statement, yesterday, NDLEA spokesman, Femi Babafemi, said Onyeka, who was sentenced to seven years imprisonment in Ethiopia for drug trafficking offences and released from prison in 2020, was again arrested, last Friday, at the Lagos airport on his return from Sao Paulo, Brazil via Addis Ababa on an Ethiopian Airlines flight.
“A search of his luggage revealed he had concealed 5.90kg cocaine inside cans of deodorants and female lip gloss.
“During preliminary interview, he claimed to have gone into the drug business to raise fresh capital to start a legitimate business after his release from Ethiopian prison in 2020,” Babafemi said.
The NDLEA spokesman disclosed that the father of two kids, one each from a Nigerian woman and a Brazilian lady, said he was into motor spare parts business before going into the criminal trade.
He added that the 44-year-old indigene of Awka North Local Government Area of Anambra State said he was expecting to be paid N2million on successful delivery of the illicit drug in Nigeria.
Meanwhile, Babafemi said NDLEA operatives had, last Tuesday, intercepted another trafficker, Chukwu Kingsley on his way to Rome, Italy on an Asky Airline flight.
“A search of his luggage shows he had concealed among food condiments 11,460 tablets of tramadol 225mg with a gross weight of 5.7kg and 39 bottles of codeine syrup.
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