38kmLagos 4th bridge may cost more than ₦844billion estimated – Northcourt COO

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…Says real estate, shares, bonds, best investment options in 2020

 

 

This is even as it stated that the 38km Lagos 4th mainland long bridge estimated to cost ₦844billion may cost more because of currency risks if the project is delayed further.L-R: Chima Titus, Olawunmi Ashafa, Obina Chima, Ayo Ibaro and Babajide Komolafe

 

 

The bridge which estimated to be complete is 10 years, is expected to connect Lagos Island through Lekki, Langbasa and Baiyeku towns and runs through Igbogbo River Basin to Itamaga in Ikorodu.

 

 

 

He noted that the 4th mainland Bridge will be on two levels: Vehicular traffic on the upper level; Pedestrian, social, commercial and cultural interactions on its lower level.

 

 

 

He disclosed that 39 firms that have expressed interest in the project include Julius Berger, BUA International Ltd., China Civil Engineering, Construction Corporation (CCECC), Kyeryong Construction Company, Pythagoras Holdings, China Jiangxi International, Economic and Technical Cooperation Company Ltd, CRCCCI Nigeria, China State Construction and Engineering Corporation Nigeria Ltd.

 

 

 

In view of the continuous slump in Treasury Bill (T-Bill) yields, occasioned by the stoppage of individuals and non-bank corporates from the Central Bank of Nigeria’s (CBN)

 

 

Open Market Operations (OMO) auctions, a real estate advisory firm, Northcourt has called on investors to invest in real estate, shares and longterm bonds to reduce risk and realize higher returns.

 

 

 

 

Northcourt is a real estate investment solutions company that adopts a research-based approach to developing and managing property as well as providing real estate advisory services in West Africa.

 

Speaking at the capacity building forum of the Finance Correspondents Association of Nigeria (FICAN), on the topic “investment opportunities in 2020,” the Chief Operating Officer/ Director of Advisory, Nourtcourt Mr.Ayo Ibaro said though there is always a risk of losing money whenever one invests, there is also the need to invest wisely.

 

 

Stressing that the recurrent expenses in the retail sector is still huge, Ibaro revealed for instance that most big malls spend about N30 million in diesels per month.

 

 

According to him, the real estate sector provides a better option for investors that are looking for longterm windows to invest in, because real estate has greater chance of appreciation.

 

 

 

He added that Land for instance, is not static, which explains why it kept appreciating even during recession.

 

 

“If you have appetite for just short-term investment, then invest in shares, bonds and explore currencies because,” Ibaro advised.

 

 

He wants retail investors who have been having sleepless nights over low T-Bill yields to be careful in 2020 because the CBN and other multilateral organizations might still take certain decisions that could change every market expectations.

 

 

 

Regretting that the real estate sector has a lot of dead capital, Obaro argued that attention should be paid to in-occupied multi-million naira houses scattered across Nigeria, saying that the owners could pay a token every month to government.

 

Such amount he said, could be channeled into provision of tangible social infrastructure especially children centers, schools, hospitals, health facilities among others.

 

 

In certain cities like Port Harcourt, Ibaro said, it is the hotels, governments and churches that are top users of Land, thus crowding out entrepreneurs.

 

 

On challenges facing the sector, the real estate expert stated that costs of construction of residential houses, lack of social and affordable amenities are among them.

 


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