LASG Advises Due Diligence On Real Estate Business Transactions

AgegePulse Magazine

LASG Advises Due Diligence On Real Estate Business Transactions

Lagos State Government has advised potential real estate investors to always check the registration portal of the Lagos State Real Estate Regulatory Authority (LASRERA) via its website: lasrera.lagosstate.gov.ng for the list of registered individuals/organisations captured on the agency’s database before committing to any real estate business transactions in the state.   

Special Adviser to Lagos State Governor on Housing, Barr. Barakat Odunuga-Bakare

The Special Adviser to Lagos State Governor on Housing, Barr. Barakat Odunuga-Bakare gave this advice on Thursday at the Y2024 Ministerial Press Briefing held at Bagauda Kaltho Press Centre, Alausa, Ikeja.

Responding to the growing concerns raised over unregistered real estate practitioners and the proliferation of imposters, Barr. Barakat Odunuga-Bakare emphasised the importance of due diligence, especially in areas where new estates and construction works are ongoing.

She highlighted the efforts of the Lagos State Government through LASRERA to safeguard both local and international investors from falling victim to fraudulent schemes.

She disclosed that the strategies put in place by the state government to regulate activities within the real estate sector will serve as a deterrent to fraudulent practices within the real estate sector and enable swift intervention and sanctions against erring practitioners.

Odunuga-Bakare also underscored the effectiveness of LASRERA’s regulatory measures, noting that the agency’s database currently boasts 925 registered individuals and organisations, with an additional 2550 practitioners in the process of enrollment.

“LASRERA has a database of 925 registered individuals/organisations on its registration portal while over 2550 practitioners have enrolled to be registered”. Odunuga-Bakare stated.

Adeoti Sobowale 

Deputy Director,

 Public Affairs ,

LASRERA .

15th May, 2024.

SPECIAL ADVISER ADVOCATES GENDER EQUALITY IN REAL ESTATE OPPORTUNITIES

AgegePulse Magazine 

SPECIAL ADVISER  ADVOCATES GENDER EQUALITY IN REAL ESTATE OPPORTUNITIES 

The Special Adviser to the Lagos State Governor on Housing, Barr. Barakat Odunuga-Bakare has made a case for gender equality and the promotion of women’s inclusion in the real estate sector. 

Odunuga-Bakare, while speaking at the Female Lawyers in Real Estate Practice (FELIREP) webinar held, recently emphasised the importance of collaboration among stakeholders to create an inclusive and equitable real estate ecosystem for all.

She said the state government is determined to achieve a society where women are not just participants but leaders in the real estate sector, assuring that together, they would build a future where women thrive in the world of real estate. 

Drawing from her experience as a top government official, she outlined steps that could be taken to promote women’s empowerment, from education and training programmes to mentorship and sponsorship initiatives.

The Special Adviser expressed her intention to tackle systemic barriers that hinder women’s access to real estate opportunities by raising advocacy on fair housing policies, promoting female representation in leadership roles within the industry, and fostering mentorship programmes for aspiring women in real estate.

She also highlighted the critical role of government in driving gender equality, emphasising the need for targeted policies and initiatives to level the playing field for women in real estate.

While noting that women still face disparities in rights, opportunities, and resources compared to men, Odunuga-Bakare stated that registering with the Lagos State Real Estate Regulatory Authority (LASRERA) is crucial for maintaining sectoral integrity.

She said, “As Lagos State thrives as Nigeria’s commercial hub, adherence to international standards in the real estate sector is imperative. Compliance with the Lagos State Real Estate Law will attract both local and international investment, contributing to the state’s GDP and livelihoods”.

“Promoting women’s inclusion is in the present administration T.H.E.M.E.S Plus Agenda. These may not be in real estate, but the initiative is for the wellness of women and youth across the State”, the Special Adviser added.

She, therefore, urged participants at the meeting to join her in the fight for gender equality in real estate, just as she called on her fellow professionals, policymakers, and stakeholders to work together to create a more inclusive and equitable industry for all.

Adeoti Sobowale 

Deputy Director,Public Affairs

 LASRERA

SPECIAL ADVISER CALLS FOR ROBUST REAL ESTATE REGULATION

AgegePulse Magazine 

The Special Adviser to Mr. Governor on Housing, Barr. Barakat Odunuga-Bakare has emphasised the significance of robust real estate regulations in the State, expressing optimism that the Greater Lagos Rising mantra of Governor Babajide Sanwo-Olu is achievable through collaborative efforts and adherence to regulatory standards.

Special Adviser to Mr. Governor on Housing, Barr. Barakat Odunuga-Bakare 

She stated this while delivering her keynote address at the Real Estate Outlook 2024 event organised by the Nigerian-British Chamber of Commerce (NBCC), themed “Looking Ahead, Gauging Opportunities”, aimed at providing a platform for stakeholders to explore prospects in the real estate sector held on Monday via Zoom.

While emphasising the pivotal role of regulatory measures in fostering a conducive environment for real estate development in Lagos State, the Special Adviser stated that Real Estate regulation must be transparent to achieve sustainable growth within the real estate industry.

Underlining the commitment of the Lagos State Government to prioritise the housing sector as part of its agenda to propel the state into a 21st-century economy, Odunuga-Bakare highlighted the implementation of the Affordable Home Ownership Scheme, underscoring the importance of real estate regulation within the sector.

In her presentation, she informed the gathering about the establishment of the Lagos State Real Estate Regulatory Authority (LASRERA), a regulatory agency tasked with overseeing the activities of individuals and organisations operating in the real estate sector. 

Odunuga-Bakare outlined LASRERA’s mandate, which includes issuing and renewing permit licences, investigating complaints, eliminating unethical practices, and conducting training for industry professionals.

She lauded the collaborative efforts between LASRERA and federal enforcement agencies, stressing the imperative of restoring confidence and trust among local and international investors by combating fraudulent practices effectively.

Furthermore, she stressed the importance of ensuring that only qualified professionals operate within the industry to safeguard the interests of buyers and investors.

Odunuga-Bakare, therefore, called for the cooperation of all stakeholders in registering with LASRERA to combat fraudulent practices effectively. 

She urged real estate practitioners to comply with the provisions of the State Real Estate Law and advised investors to verify LASRERA permits before engaging in property transactions.

The Special Adviser on Housing emphasised the need to sanitise the sector to encourage partnership with the private sector to boost confidence in investors.

Adeoti Sobowale

 Deputy Director Public Affairs.

LASRERA 

13th February, 2024.

2017 Community Day Celebration: Lagos Takes Governance To Grassroot

The entire 20 Local Governments Areas and 37 Local Council Development Areas of Lagos State will today come alive with the celebration of 2017 Community Day.

The state government through its Ministry of Local Government and Communities Affairs had earlier announced that this year's community day celebration will be decentralized to further enrich community participation in all the nooks and cranny of the State.

Hence, AgegePulse gathered that Agege LGA and Orile Agege LCDA are set to host members of the community at their respective secretariat to mingle and review progress made by government and other stakeholders in nurturing the networks of families and individuals with common interests.


Speaking at a press briefing recently, the Special Adviser to the Governor of the State on Community and Communications, Mr. Kehinde Bamigbetan, disclosed the decentralisation is targeted at increasing communalism by the various communities in the state.

He however, commended the over 3,900 CDAs in the State for initiating various self-help projects and for complementing government’s efforts in their various localities. He said the Ministry of Local Government and Communities Affairs had compiled the various needs of communities in the State through a need assessment survey it conducted recently.

Bamigbetan said: “The monitoring, evaluation and feedback roles of CDAs in project initiation, execution and delivery, the visibility accorded the CDAs in the organisation of government programmes, the renewed guidelines to local governments emphasizing the consultation of, and partnership with community development associations as a code of governance of this administration and many more.”

Today's Celebration will be followed by the grand finale at Adeyemi Bero auditorium, the Secretariat, Alausa, Ikeja, tomorrow.

LASG intensifies efforts to ensure food safety for Lagosians

The Lagos State Government has established four main sub-committees for the implementation of activities on food safety in line with National guidelines and International best practices.

The Special Adviser to the Governor on Primary Health Care, Dr. Olufemi Onanuga disclosed this in a keynote address at the maiden meeting of the State Food Safety and Hygiene Management Committee held recently.

Onanuga who listed the sub-committees to include Advocacy and Social Mobilization, Training and Capacity Building, Partnership and Resource Mobilization and Monitoring and Evaluation said that the committees are expected to develop operational activities in line with the National Policy on Food Safety and its Implementation Strategy as well as International best practices.

“I hope that the reports of activities of this committee will help to develop a very strong basis for an enviable implementation strategy that will be all-encompassing and achieve the result of ensuring safe food for all Lagosians,” he remarked.

The Special Adviser stated that the National Policy on Food Safety and its Implementation Strategy is a document that has been clearly developed along with its implementation framework by the Federal Ministry of Health in conjunction with Food and Agriculture Organization of the United Nations (FAO).

He said the Ministry of Health has embarked on various activities to strengthen its food safety programmes through active routine inspection of food handling/processing establishments and implementation of Hazard Analysis and Critical Control Points (HACCP).

“HACCP is a systematic preventive approach to food safety from biological, chemical, and physical hazards in production processes. It designs measurements to reduce these risks to a safe level by putting in place stringent actions and strictly monitoring and controlling each process,” he remarked.

The Special Adviser observed that there has been a tremendous growth in inspection coverage of the food handling industry in the State as a total of 1,651 inspections were carried out in 2016 representing 63% coverage against 55% coverage recorded in 2015.

While giving his assurances that the level of coverage in 2017 has increased, he noted that food establishments in Lagos State have already embraced the implementation of HACCP and all its pre-requisite programmes with a view to assuring safe food for all Lagosians at all levels.

Lagos to shut down Oba Akran Avenue Ikeja for carnival

Olamide, Lil Kesh, Small Doctor, Queen Salawa Abeni, Malaika and Tope Sax amongst others to entertain guests

AgegePulse Magazine

The Lagos State Government on Sunday said plans have been concluded to stage this year's edition of the Lagos Street Carnival scheduled to hold on December 3 along Oba Akran Avenue in Ikeja.The Special Adviser to the State Governor on Tourism, Arts and Culture, Mrs. Adebimpe Akinsola, in an interview with newsmen, said the venue of the carnival would be shut down but adequate preparations have been made for alternative routes to mitigate the impact of the road closure on motorists and residents.Dubbed, “Lagos Street Party’’ in its maiden edition last year, the event has grown into a carnival to mark the start of the end of the year activities, celebrate the multi-cultural nature of Lagosians and reposition the State as a formidable cultural destination.

Speaking on security arrangements already put in place, Akinsola said, "We like to assure Lagosians and visitors that efforts are in place to ensure that the venue and environs are safe and incident-free”.“We expect more visitors this year and a lot more will be coming.

 In terms of security and crowd control, the Ministry of Tourism, Arts and Culture is not working alone. We are working with the police, Lagos State Traffic Management Authority (LASTMA), Federal Road Safety Corps (FRSC), Fire service, LASAMBUS and the Lagos State Waste Management Agency (LAWMA). All of them are onboard and people are not going to see Oba Akran on Monday in a dirty state,” Akinsola said.

She expressed optimism that the event will witness an overflow of people of diverse cultures from all over the State engaged in merrymaking to usher in the Yuletide season.

"That was how it was done on the Island and this year we are bringing it to the mainland and of course next year, we would be looking at another location because the aim of government is to take this carnival all around Lagos,” she added.

She reiterated that through project T.H.E.S.E which stands for Tourism, Hospitality, Entertainment and Arts and Sports to achieve Excellence, the State Governor, Mr. Akinwunmi Ambode is committed to repositioning

the State and ensure excellence in the true sense of the word. While urging everyone to participate and enjoy the entertaining activities lined up for the carnival, the Special Adviser said: "the carnival is not only just for adults alone, the children will have their own corner where they can have fun.”  The carnival which has a line-up of artists including Olamide, Lil Kesh, Queen Salawa Abeni, Malaika and Tope Sax amongst others will start from noon until midnight on Sunday.