The Akwa Ibom community in Lagos, under the aegis of Akwa Ibom Alliance for Good Governance, has commended Governor Umo Eno on the foundation-laying of the 19-storey Ibom Towers in Lagos.
In a statement signed by the Chapter President of the group, Engr Godwin Okon and made available to our correspondent in Akwa Ibom on Wednesday, the group said Ibom Towers project portrayed Eno as a leader with foresight and well-informed enough to timely key into the the real estate business which is the rave of the moment in Lagos.
While noting that no investment could be compared to the prospect and projected gains of a real estate business, the group said the decision of Governor Eno to build a 19 storey ultra modern commercial tower to replace the old, dilapidated and moribund Governor’s Lodge at Victoria Island, Lagos is a well thought out idea.
The statement in parts, “This spirit of investment will bring our State to be at par with other economically viable States in Nigeria. And if we must mention, Lagos State is number one. What makes Lagos a center of excellence is the wisdom of the leaders in investment. This is more pronounced in real estate business.
“In Nigeria, the real estate market is anticipated to achieve a value of US$2.42tn by 2024.
Among the various segments within the market, residential real estate holds the largest share, with a projected market volume of US$2.08tn by 2024.
“Over the period of 2024-2029, the market is expected to exhibit a compound annual growth rate (CAGR) of 7.10%, resulting in a market volume of US$3.41tn by 2029.
“Amazingly, the real estate market in Nigeria is experiencing a surge in demand for luxury apartments in major cities. First of all, Akwa Ibom State is even very lucky to have have a property in such choice area. Real estate is the best investment, and Lagos is an excellent destination.
“The real estate business is more pronounced in Lagos because there is the economic powerhouse of Nigeria with prospects from the diplomatic community, multinational companies coupled with its advantage of population. Or have they also forgotten that Lagos is a former capital of Nigeria?
“As people who have lived for varying number of decades Lagos, we are the best people to give credible opinion on the idea of a real estate business in Lagos State, Governor Umo Eno is on track, and must be commended.”
They also commended Eno for the various programmes and initiatives of his administration, especially the ones that are targeted on youth development and empowerment.
They further hailed the governor on the Ibom-LED Entrepreneurship Accelerator Programme and the aggressive rural development as well as drive and vision for food sufficiency.
“We therefore pledged our unalloyed support for the governor to achieve the various good projects he is pushing to make Akwa Ibom State to be the envy of all States.”The statement concluded.
