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Old May 4th, 2010, 10:48 PM   #381
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Maybe Malema was right in kicking that BBC reporter off his stage...lol
The BBC can be a pain

I have never been so proud of a south african like I am of Malema .
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Old May 11th, 2010, 12:12 PM   #382
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Eko Atlantic City - Construction Work Commences Quarter1 Next Year

Construction work is set to commence in the Eko Atlantic City project in the first quarter of next year, with about one million square metres of land already reclaimed at the site, with the reclamation job still ongoing.

A total of nine million square metres of land is to be retrieved from the sea to provide some of the finest development properties in West Africa when completed.

In a media chat during a function to market the project to prospective investors in Lagos, last week, Bernard Bridi, Marketing and Communications Director, South Energyx Nigeria, the project developers, said that between 6 to 8 percent of the entire project has already been sold to some individual as well as corporate investors, at a cost ranging from $850 to $1,600 per square metre depending on location within the city project.

The city is expected to set a new standard for living and working in West Africa, rising up from freshly reclaimed land that stretches from the part of the ocean next to Victoria Island to Lekki peninsular. The emergence of the city is expected to relieve the pressure on the increasing population of the state and further confirm Lagos as the fastest growing mega city in the world.

On completion, Eko Atlantic city will be similar to that of the skyscraper district of Manhattan Island, New York. It is expected that 250,000 people will live in the city, with 150,000 more commuting to work there on daily basis. Investment in homes, businesses and tourism will flourish in the safe, clean and sustainable environment.

The city will take six years to complete with three distinct building phases. Work on the first phase, to reclaim the building land from the Atlantic began in 2008.

On the possible impact of the development on the social activities of Lagosian, especially with regards to the possible restoration of Bar Beach, the South Energyx official remarked that "Bar Beach is gone for good. It's already been gone since 2005," noting however, that the Eko Atlantic city project will more than make up for the loss with various tourist attractions such as marinas, waterfronts, among others.

"With 9 kilometres of waterfront along the Atlantic Ocean and harbour channel, 6 kilometres of coastal highway and 20 kilometres of internal waterway, Eko Atlantic offers attractive investment options for waterfront development."

Some of the highlights of the Eko Atlantic City are an environmentally conscious development; compliance with international standards for city developments; multi channel transportation based on road, tram, and waterways; and an ability to protect Victoria Island and Lagos from ocean surge.

According to Bridi, large scale marine works are ongoing, depositing the sand that is needed to create Eko Atlantic City behind a giant sea wall. The sea wall, christened: "Great Wall of Lagos", is a masterpiece of engineering designed to meet the highest international specifications and to withstand the worst imaginable Atlantic storm. It is seven kilometres long and 60 metres wide at base level, where the force of the ocean is greatest. Towering nine metres above sea level, the wall will also be a stunning landmark in the new city.

Bridi further stated that the emerging city is already helping to reverse the environmental damage on Victoria Island caused by a century of coastal erosion and the imposing new sea wall to be erected expected to shield the city of Lagos as well as the Eko Atlantic City, thus converting an impending disaster into valuable asset for the future.

Traffic gridlock will be unheard of in the city due to well planned public transport network, water transportation and energy efficient trams will run on the Eko Tramway network.The project is a wholly private sector funded development conceived and facilitated by the Lagos State government.
http://allafrica.com
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Old May 31st, 2010, 04:52 AM   #383
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Nigeria’s Lagos May Sell More Bonds, Governor Says (Update1)
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By Dulue Mbachu

May 28 (Bloomberg) -- Nigeria’s Lagos state, where the country’s economic capital is located, may consider selling more bonds as “appetite” for them develops, state Governor Babatunde Fashola said.

“Every time we approached the market, the regulators have benchmarked what we should raise,” Fashola said in an interview in Lagos yesterday. “Those benchmarks have probably underestimated the appetite of the market, because the first two issues were overly successful, oversubscribed.”

Lagos state and its city first issued debt in 2008, when it sold 50 billion naira ($329.7 million) of five-year securities. It concluded another 50 billion-naira, seven-year bond sale on April 19. The five-year securities pay a rate of 13 percent, while the bonds sold two months ago bay between 13 and 14.5 percent.

The bonds are part of a 275 billion-naira program to fund road upgrades and other development projects in Lagos. Fashola wants to revamp the infrastructure of Lagos, which the World Bank says is one of the world’s fastest-growing cities with at least 17 million people. There are plans to build a new urban rail system, construct the Lekki Free Trade Zone, new city bridges and expand the highway to neighboring Benin, Fashola’s office said in a statement on March 24.

Companies

The city is home to the West African nation’s biggest companies, including Nigeria Breweries Plc, the largest by market value on the nation’s exchange, and Dangote Group, founded by Nigerian billionaire Aliko Dangote. Chevron Corp., Royal Dutch Shell Plc and Exxon Mobil Corp. all have offices in Lagos.

“We’ll go back to the market and try to raise another series of bonds, denominating them as we have done and showing what we’re doing with them which people can see,” Fashola said, without providing a date for the sale.

The issue will “definitely” be this year, Bolaji Balogun, chief executive officer of Chapel Hill Denham Group, a Lagos- based company advising on the sale, said on April 21.

Nigeria, Africa’s top oil producer, depends on crude exports for more than 80 percent of government revenue. Lagos receives 76 percent of its revenue from taxes, according to the Finance Ministry. The state assigns 15 percent of tax revenue to a debt service account from which bondholders will be paid.

Under unelected military rulers who dominated power over three decades from the mid-1960s and managed Nigeria’s oil boom “as easy money,” the illusion was created “that people didn’t need to pay taxes,” Fashola, 47, said. The success of Lagos in getting people to pay taxes has shown it is “a myth.”

By rebuilding the city’s roads, adding a rail network and creating efficient transportation, it will be easier to deal with the problems created by the city’s large population, making it safer for people and investment, the governor said.

“Some of the perceptions of Lagos as a difficult, chaotic city are rooted in lack of infrastructure,” said Fashola.
http://www.bloomberg.com/apps/news?p...d=av00NvVo3vPY
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Old June 2nd, 2010, 10:58 PM   #384
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Pinnacle plans N30b real estate in Nigeria


South African real estate firm, Pinnacle Point Group Limited, has indicated readiness to inject about N30 billion into the development of a world-class golf estate m Badagry, Lagos State.The company, which is the largest golf and leisure estate developer in South Africa and on the African continent, intends to position itself as a major global player in both the golf and residential estate development markets in the next five years.

Actual and projected turnover of all projects being executed by the Pinnacle group across Africa currently under management exceeds $6.6 billion.The group already has nine other developments in South Africa and recently announced that it is in negotiation to develop and construct a multi-million dollar luxury golf estate in Lagos State.

The Lagos Keys development will comprise 300 luxury homes, an international golf course, a marina; with boutique shops, a six star hotel and conference facility and all iconic Badagry Pyramid, which will be a tower 18 storeys.The pyramid will comprise of 45 million solar panels and will supplement electrical power to the project. The group is also to build one of the world s most exclusive golf and casino resorts on an island f in the Indian Ocean off Mahe, Seychelles.

Pinnacle Point won the tender from the Seychelles government against tough international competition. The project will be the largest investment in the Seychelles leisure industry.The group's flag ship development Pinnacle Point Beach and Golf Resort, on the east coast of South Africa, comprises luxury residential homes, golf lodges, villas, additional exclusive properties situated on the 9Yster Bay beach front enclave, and an 18 hole international championship golf course.

The resort has received numerous awards and accolades, and the golf course has been voted one of the Top Ten Best New Golf Courses in the World. The Pinnacle Point Group is committed to the development and management of all its properties to the highest standards possible, in accordance with a global trend towards luxury lifestyle living. It is equally committed to maintaining the highest environmental standards across all properties and to a policy of responsible corporate social Investment.

The company came about as a result of the merger of the businesses of the Pinnacle Point Holdings group of companies and Acc-Ross Holdings Limited. The merger was achieved through the reverse take- over of Acc-Rossby Pinnacle Point Holdings in November 2008. The Pinnacle Point Group is listed on the Johannesburg Stock Exchange. and Nigerian Stock exchange, Major shareholders of the Company include South Africa's leading bank ABSA and a Nigerian consortium led by GMA.

Other key shareholders include a major international property development company in the UAE, who have indicated their intention to partner with the Pinnacle Point Group in expanding the Group's footprint in Africa and exploring the opportunities for global expansion beyond the African continent.
http://www.proshareng.com/news/singleNews.php?id=10818

Pinnacle point lagos keys website below
http://www.pinnaclepoint-westafrica.com/
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Last edited by paddylo; June 8th, 2010 at 03:53 PM.
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Old June 3rd, 2010, 07:01 AM   #385
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great & cool
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Old June 8th, 2010, 03:49 PM   #386
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StanbicIBTC, Actis Kick off $100m City Mall

By Emele Onu, 06.08.2010

StanbicIBTC Bank Plc and Actis yesterday in Lagos marked the start of construction work at the Ikeja City Mall. The ground breaking ceremony of the $100million project was performed by officials of StanIBTC bank, Actis and the Lagos State Government.


The City Mall was financed by a mixture of debt and equity with a debt facility of $48.6 million secured from StanbicIBTC Bank and Standard Bank of South Africa Limited.Executive Director, Corporate and Investment Banking, Stanbic IBTC, Mr Yinka Sanni, said StabicIBTC’s participation in the project is in line with its zeal to contribute to the development of the real estate sector, industries and infrastructure of Lagos State. He added that the zeal also agrees with the passion Standard Bank has for the development of Nigeria and Africa.


The Governor of Lagos State, Tunde Fashola, said the Mall is a landmark project for Lagos, adding that it will bring shops and services to the local community.“It will boost the supply chain both locally and nationally and bring significant direct and indirect job opportunities,” he added.The Governor, who was represented at the event by his Special Adviser, Works and Infrastructure, Mr Abiodun Johnson, said he was honoured to oversee the official start of construction work at the project site. He added that it is such a project that will help Lagos state secure a better future for its people.


Actis and the project partners to the City Mall, Paragon holdings have been working on the retail and leisure outfit for the last two years. Actis is the 60 per cent majority owner while Paragon Holdings and RMB Investment and Advisory (RMBIA) holds 20 per cent equity stake. The Ikeja City Mall is expected to be completed next year and designed to feature an international leisure and shopping centre with restaurants, a cinema and retail outlets. It was also designed to service Lagos mainland and return Ikeja to its status as the traditional retail hub of Lagos State. The developers said the project would initially develop 28.500m2 of leisure and retail shopping space, adding that anchor tenants already secured include shoprite and Silverbird.
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Old June 13th, 2010, 05:00 PM   #387
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Fashola Commissions 103 New Ultra Modern Classrooms (pictures)













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Old June 16th, 2010, 02:53 PM   #388
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UPDC Properties Lagos

treasure gardens. .Lekki

Abebe courts Ikoyi

Trenchard place ikoyi
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Old June 16th, 2010, 02:55 PM   #389
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Victoria Mall Plaza
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Old June 17th, 2010, 06:52 AM   #390
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UPDC Properties Lagos









This properties actually appear to be located in Abuja, according to the developer's website
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Old June 17th, 2010, 11:32 PM   #391
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^ yeah i think i pass this bulding everday on my way to skool
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Old June 18th, 2010, 08:16 PM   #392
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My bad. . fixed
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Old June 23rd, 2010, 03:22 PM   #393
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Old June 27th, 2010, 07:48 AM   #394
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Olusosun: Crafting A Megacity On A Dumpsite

Olusosun: Crafting A Megacity On A Dumpsite
Sunday, 27 June 2010 00:00 By Tope Templer Olaiya

OLUSOSUN dump will never stop attracting attention. It is reputed as Africa’s largest dumpsite, comprising 100 acres of garbage and collecting 2,400 metric tonnes of rubbish everyday from the city of Lagos. It recently did not escape the eyes of two world broadcasting media – CNN and BBC – an episode that ignited a raging debate and torrents of reaction, following separate documentary series that explored life at the sharp end of one of the most extreme urban environments in the world.
Situated in the northern part of Lagos within Ikeja Local Government, the plateau of dirt approximately receives 40 per cent of the total waste deposits from Lagos on its over 45 hectares expansive ground. Roughly, 1,000 homes have been built on Olusosun – the residents, mainly scavengers, collect scrap from the dump and sell.
Just as beauty is in the eyes of the beholder, the site means different things to different people. While it may nauseate passersby as another raised ground dedicated to warehousing human waste and refuse, the case is not so for thousands who have found solace, succour and shelter at the site.
There are several chains of businesses. A section of the site is devoted to sorting out bits and pieces of refuse. And very often, goldmine and money-spinning objects are dug up from the dung. No piece of metal and plastic is wasted. The useful plastics are thoroughly washed up and packed in bags to be sold to the highest bidder, while the damaged ones are also neatly folded to be grinded into small bits. The crushed plastics are also packaged into bags, ready to be sold off to would-be buyers.

Olusosun has forever remained an issue since the existence of the dump, such that during the televised governorship debate ahead of the 2007 elections, contestants were asked what they would do with the menacing eyesore if elected into office.
Managing Director of Lagos State Waste Management Authority (LASTMA), Mr. Ola Oresanya, says despite the controversy over the BBC documentary, Olusosun has been astutely rehabilitated and there are more plans for the site. “Olusosun today is not the Olusosun of five years ago before the restructuring of waste management in Lagos State started. It is quite different now.
“Five years ago, it was a smokey and very nauseating sight that nobody would want as a place to welcome you into the city of Lagos. We worked at it starting from the construction of access roads to traverse the site. The operational pattern before was such that you just dump refuse on the site, waste managers were just spreading uncompacted and loose refuse.
“But right now, at Olusosun, we now have a compacted refuse that are well compressed. We were able to do that with the new equipment we procured. Again, you don’t see much dust at Olusosun because we now have the atomisers; they are dust control equipments that do a bit of deodorizing.”
One of the visible changes at Olusosun is the near absence of heavy stench that pervaded the air around the area. That is history, though there is still a bit of foul smell. The LAWMA boss explains that stench is now seasonal. “We are about installing rigid deodorisers and very soon, that would be installed to remove the stench completely. The stench is now coming whenever there is rainfall, the water would push out the trapped gas and that is what you perceive. During the dry season, you can never smell anything there at all.”

There is a new face of Olusosun that the BBC documentary did not capture, as the whole area is not about dung. There is a bit of restoration underway and a section of it is going green. About 10 hectares of the site is already going green and it is enhancing the aesthetics of Olusosun from the highway.
On why the Olusosun Waste to Power Project billed to take off last year failed, Oresanya blamed it on the contractor handling the project for failing to deliver the needed equipment as at when promised. But the Waste to Wealth project is ready and set for take off. According to Oresanya, “all arrangements are now ready for the biggest recycling plant in the country. It is a purely private sector project with all the facilities installed.
“On our promise to generate electricity from Olusosun, we have started the gas drilling and we are already drilling the methane gas out that will generate electricity. By and large, we have upgraded Olusosun into a goldmine.”
The ongoing rehabilitation is not leaving out the hordes of scavengers, who will be the foot soldiers of recycling banks set to be created across the state. “We are not pushing the scavengers out now because we believe we have moral obligation towards the people who are there now. These are people, who rather than go into crime, are looking for daily bread on the dump. We see them as victims of the circumstance. So, why add more to their pains?
“What we are doing now is to integrate them to the formal sector and that is the recycling banks that we are having. We are going to create about 1,000 recycling banks, so, what those scavengers are looking for on the dump could be disbursed in those banks. Rather than stay on the dump, they would be made to work at the bank. We want to give them alternatives, before we now say ‘in this place, we don’t want to see anybody there.’”



http://ww2.guardiannewsngr.com/index...tro&Itemid=558
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Old June 27th, 2010, 12:15 PM   #395
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Can we see images of the new dumping site?
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Old July 6th, 2010, 05:51 AM   #396
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Lagos, ENCON to establish 15mw IPP for Lagos Island

Lagos, ENCON to establish 15mw IPP for Lagos Island
Tuesday, 06 July 2010 01:18 Olusola Bello

A new frontier towards providing uninterrupted power supply has been initiated by the Lagos State government which is partnering a private company, ENCON plc, to provide 15 megawatts of electricity to some strategic locations in Lagos Island under the Powering Justice Project.

Consequently, the state government has signed a power purchase agreement with Island Power Limited, the Special Purpose Vehicle constituted by ENCON for the Powering Justice Project. Places to benefit from the uninterrupted electricity supply under the Private-Public Partnership initiative include Lagos High Court and its annex, Lagos Magistrate Court, Island Maternity Hospital, General Hospital, State House and street lighting on 20 streets within Lagos Island and environs among others. The independent plant would be powered through a dedicated 15mw dual-fuel power plant and distribution network.

The power plant which is expected to be completed and commissioned by the first quarter of 2011 is capable of running on either diesel or natural gas. However, due to the absence of natural gas distribution network on Lagos Island the power plant would initially run on diesel but would later convert to natural gas when the product becomes available in the area.

This is the second attempt by the state government to establish an IPP. Its experiment with AES/Enron was truncated by the Federal Government which directed that whatever is generated by AES/Enron be ploughed into the national grid. On the other hand, the state paid over N800 million every month to the then National Electric Power Authority (NEPA) without any direct benefit from the over 200 megawatts generated by the plant.

The power plant is modular in nature with standardized units, allowing for flexibility of expansion in future in the event of increase in power requirements. In addition, the model also guarantees maximum operational efficiency as the number of engines running can be optimized, that is reduced at night or increased to match load demand. ENCON over the years has deployed its capability in the area of provision of independent power plants to various corporate and government institutions. Some establishment that are currently enjoying uninterrupted electricity through ENCON independent power plants are Unilever, Nestle, Lafarge Cement, African Steel Nigeria Limited among others.

A source close to Lagos State government told BusinessDay that a different distribution network which would be dedicated to the institutions to be serviced would be put in place in order to avoid any interference from the Power Holding Company of Nigeria (PHCN).

Banks have often refused to grant loans to IPP operators who are not in control of the distribution networks as they desire a more secured way of getting back their credit. The ability of the IPPs to collect tariff from customers is a key condition for banks to give loans to them.



http://www.businessdayonline.com/ind...news&Itemid=18
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Old July 10th, 2010, 07:02 PM   #397
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Lagos After Midnight
07.04.2010

While many sleep as nature dictates at night, life takes on a vibrant hue for others in different parts of Lagos metropolis. For some, it is purely for business; for many others however, darkness provides the necessary cover for unbridled fun. LANRE ALFRED takes a look at what goes on in different parts of the city after midnight...

The rain had just stopped in the city of Lagos, leaving the streets damp and water-logged. A cold gust blew hither, thither. Darkness draped the city’s skyline: it was a few minutes past midnight.
Allen Avenue, the sprawling nerve-centre of corporate activities in Ikeja, Lagos state capital, was typically awash in bright lights providing illumination for night wanderers to maneuver its precincts. It is that time of the night when the hounds of hell dictate the pace of grave immorality which occurs unhindered at this time.

For the uninitiated, the streets looked deserted and uneventful. But Loye Anthony, a 35-year-old banker, knows what spots to hit in pursuit of unbridled fun and adventure. ‘Thank God It’s Friday’, the singsong of unerring fun-seekers, escaped from his lips as he made a detour at the Opebi end of the long street. He located a strip bar in a non-descript street of Allen Avenue where he is a regular. In fact, it is usually Anthony’s first contact point after dark, serving as an appetizer for his voracious, even if morbid form of letting his hair down without inhibition.


A recent phenomenon on the Lagos social map, strip bars have sprung up in various parts of the metropolis. On Allen Avenue alone, there are about four of such strips with different classes of clientele. Drinks are sold far above street prices. Beers, which are normally sold for N200 could go for as high as N1, 000. Really, the thrill for patrons is not to drink but to see young ladies of all hues dancing in their birthday suit and performing various sexual antics on a makeshift stage. The lights are low inside but the vision of happenings is bright and beautiful, vivid and uncensored. One after the other, the ladies, butt-naked, bound on stage to outdo each other in a wanton dance routine: dipping their fingers into their hallowed sanctum and licking it for effect. Occasionally, one of the girls would dip an empty bottle of coke into her womanhood, inducing gasps from the men. There are other such gasp-inducing moments.

With testosterone rock-solid and threatening to burst loose, patrons are known to ask for exclusive dance sessions ranging from N2,000 to N5, 000 depending on what the brief is for instance, there is a type called lap dancing. Interestingly, these routines are done in the open bar with other guests paying scant attention. Nobody cares about a couple bucking and clawing, though outright sex is not on the menu. In some of these clubs, there are VIP sections where only privileged members have access.


A peep into the VIP section where Anthony is a card-carrying member reminds one of Sodom and Gomorrah. Though real sex is said to be forbidden here too, but he confessed that he has a way of convincing the girls into the real act. “There is no way you would not want to have sex with these girls after they have bared it all. Money is the name of the game and since we understand the language, we play ball. All we do is to tip the bouncer at the door to keep his mouth shut and take his eyes away,” he said with a cynical look on his face. In the last one year, agents of the state government have come down heavy on operators of these clubs. Ocean Blue, which operates from a building behind Olajuwon House, Opebi Road, has been the unfortunate beneficiary of a clamp down.

Somehow, the club that never sleeps as it prides itself, bounced back, never for once losing its allure to patrons. Having satisfied his urge, Anthony shifted base, opting for a night club, one of the less exquisite ones around but with as much accompaniment as any around. The clientele here range from young, social upstarts who just happened on questionable money and are ready to spend lavishly, to sex hawkers who throng the night club in large numbers. “Ashewo full here o (There are many prostitutes here),” says a curious passerby. Not surprisingly, this particular club opens everyday of the week.


Some meters away from there, New Afrika Shrine, located in the Central Business District of Alausa, is alive and gay every night. When this reporter got there around 1:00am few nights back, there was no sleep on the faces of the revelers cutting across all ages. They mingled and bubbled with reckless abandon. Owned by Afro beat impresario and Grammy Award-nominee, Femi Anikulapo Kuti, the Afrika Shrine is a spin-off of his iconoclastic father, Fela’s original playground by the same name. However, Femi’s New Afrika Shrine has become a melting pot for adventure seekers or nocturnal fun lovers who prefer an environment where there are neither regulations nor benchmark as to the limit of fun they could have.
Cars of varying shapes and sizes dot the length and breadth of the narrow street that has played host to the shrine for the past five years.
A familiar, pungent whiff pervaded the air. Youths, scruffy-looking individuals and many other interesting characters streamed in and out of the shrine. While some pitched their tent under a canopy stationed at the entrance bellowing smoke from jumbo-sized rolls of Indian hemp, others just ambled about with their ‘joints’ not caring who was watching. They were in their own world.


The scenario was not any different inside the cavernous hall of the shrine. A few meters from the foot of the stage, two young ladies chatted away in a drunken stupor, their eyes literally smoldering while dragging on their roll of Indian hemp. They were completely oblivious to the goings on around them. A few youngsters, equally stoned, banged on their tables and empty bottles of beer and sang to the improvised beat. It is a no man’s land. Inside the hall, pungent Indian hemp smoke hovered thickly. Popular Nigerian music blared at a deafening decibel as doe-eyed loyalists tottering on the brink of inebriation, danced wildly and relentlessly.

But Dr. Brown Emmanuel who lives in the neighbourhood says the animated atmosphere that characterizes the shrine at night and during the day, is the appeal for him: “Despite everything, there is law and order here and you hardly see fights breaking out. The Kutis have enshrined a disciplinary measure that prevents unprovoked aggression.” 24-year-old Nkiru, an undergraduate, also calls the shrine home many nights because “There is no place like it in Lagos or anywhere in Nigeria.” What Nkiru means perhaps is that there is no standard venue for the brazen sale of Indian hemp. The attraction, really is to see Femi and his positive force Band perform live. Twice a month, there is also an opportunity to see his younger brother, Seun who lead Fela’s Egypt’ 80 Band on stage.


For Sani Ahmed, a petty trader, he says he sells much more in the night, especially at night when a mishmash of fun lovers converge on the shrine. In his virtually indecipherable northern accent, he said, “I have more customers at night here (Afrika Shrine). Many people come to me to buy cigarettes and soft drinks because it is very expensive inside. I sell my own at the normal price and I sell everything,” he said. Similarly, a food vendor nearby disclosed that the peak of her business is well after midnight when the frantic search for anything potent to douse the effect of alcohol is intense. Hot food comes to the rescue, and she makes brisk business.

A young man, in his late 20s, disclosed that there is no better, more secured environment to indulge in this act than at the Shrine. “We are always at home here; no disturbance of any sort. Even the people who come here to smoke comport themselves in a gentlemanly manner. This is so because this place is a leveler, we are all here for the same purpose,” he said.
At inception, smoking and sales were restricted to the fringes of the shrine. However, as time went by, the barrier was broken and it became an over-the-counter commodity. Now, the shrine is unarguably one of the few places where the sale of Indian hemp is deregulated and its consumption unrestrained. This is inspite of the bold signage on the walls of the Shrine denouncing sale and use of drugs.


Even more brisk business goes on at Obafemi Awolowo Way, opposite the Lagos Airport Hotel, Ikeja. The open shops are veritable restaurants which open only at night, with more customers perhaps. An assortment of menus is on display and people cluster around to make purchases till the wee hours of the midnight . As it is in Ikeja, so it is in Surulere where the precinct of the National Stadium metamorphoses into a carnival-like atmosphere every night.

Thanks to O’jez Restaurant owned by Joseph Odobeatu, an engineer and avid sports lover but managed by Chinese restaurateurs. In the last couple of years, it has become the ideal leisure spot for popular Nigerian entertainers, particularly from Nollywood who stay out all night without any fear of intimidation or insecurity.

If the pace of life on the mainland is measured and predictable, it is intense and pliable on the Island. There are hangouts for the rich and the very rich; the upwardly mobile and nouveaux rich. Interestingly, they never default in casing these places on a nightly basis. The Island - straddling Victoria Island, Ikoyi, Lekki and Ajah - never sleeps because that is when its pretension to prosperity is validated.

Indeed, the difference between the Island and the mainland assumes a life of its own inside those swanky clubs and plush watering holes where drinks are sold at exorbitant prices. A bottle of Moet (Rose) goes for as high as N40, 000 – N50, 000 while the regular Moet sells for between N20, 000 and N30, 000 depending on which club you choose. Beers are a virtual no-no for the big boys because Islanders do not live by the rules; they create their own rules and terms of enjoyment. They don’t do anything by half measures; they go all the way.
Beside the ostentation inside VIP sections of clubs where the very well-heeled are sequestered, another form of gaudiness is on display outside. The most expensive cars on Nigerian roads can be found here. Sometimes, it seems that Islanders deliberately wait until midnight to drive their best cars. Pray, what really is the allure for moving around at night when it is believed that supernatural creatures of darkness haunt with ferocious potency?


A psychologist at the University of Lagos says this tendency is not the exclusive preserve of Lagosians; “Everywhere in the world, people prefer the cover of darkness to socialize. Besides, night clubs, like the name suggests, operate only at night. People are supposed to work during the day and have fun or sleep at night. It does not harm the body, rather dancing relaxes the nerves and it is a form of exercise.” Anthony said if the strip bars he frequents operate during the day then he would not be a patron.

Good enough, the Lagos State government is helping to ensure that moving around at night is unencumbered by putting in place measures to ensure the security of lives and properties for Lagosians as security agents are on patrol round the clock while some are stationed in strategic areas of the metropolis. It was 5.30am at Bacchus Night Club on Obafemi Awolowo Way , Ikoyi and there was no sign of fatigue on the faces of fun lovers as the streak of dawn seeped through the skies. They partied on, oblivious the passing hours, the ticking clocks.

http://www.thisdayonline.com/nview.php?id=177414
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Old July 10th, 2010, 11:29 PM   #398
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N50,000 for moet !!! We Naijas dey try.
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Old July 12th, 2010, 04:33 AM   #399
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SPAR opens in Nigeria, sets up rivalry with Shoprite
MONDAY, 12 JULY 2010 01:24 BY OUR REPORTERS
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SPAR, the world’s largest food retailer with approximately 20,000 stores in 35 countries, is opening its first flagship store in Lagos in August to set up a fierce competition with retail leader, Shoprite, which first opened in Nigeria more than five years ago.
BusinessDay learnt that the planned flagship store is will be located in the Lekki-Ajah axis of Nigeria’s commercial capital and is being built under a collaboration with Park n Shop and founded in Nigeria in 1988. Park n Shop is owned by the Artee Group and has become a household name in modern shopping in the country.

Following the opening in Lagos, other SPAR stores will open in Otta, Abuja and Port Harcourt. The Lagos store is already attracting the attention of large manufacturers some of which are voting funds to promote the flagship store and by so doing also hope to expand their market share. The arrival of SPAR, Dutch based giant which was founded in 1932 with global revenues in excess of 27 billion euros, will mark a broadening of the retail industry in Nigeria and further advance the professionalisation of what many in Nigeria erroneously see as merely buying and selling. Analysts and shoppers told BusinessDay weekend the coming of SPAR to Nigeria is a good development for consumers.

“Nigerian consumers will now do strategic buying and not just buying for the sake of it; Nigerians will have more options to make choices from. More so, there will be healthy competition, not only in Lagos, but in Otta, Port-Harcourt and other places. It is good for the consumer”, Bismarck Rewane, a leading economist told BusinessDay.

“The presence of SPAR in Nigeria is good for consumer retail line of business which Shoprite has dominated for so long,” observed Tony Adetoba, a consumer. “It will create a healthy competition between the two brands and will offer consumers choices”, Adetona added. The retail market is projected to grow with additional 200 million customers entering the consumer goods market this year, according to a report by Mckinsey on Africa. The report also predicted a quick recovery in the consumer goods and retail sector. This may have buoyed Shoprite’s expansion plan which is scheduled to open more outlets this year. SPAR is one of the best retail chain outfits in South Africa. Their goods are very cheap like Clicks, another brand in South Africa. Their presence means good business and competition for that segment of the market,” Abiola Ogundimu, an economist, said.

SPAR was originally known as DE SPAR, the Dutch phrase for door and some of its flagship stores are still called Eurospar and Interspar in some countries. Most SPAR stores are to be found in Europe but they are now in countries like South Africa, Botswana, Namibia, Zimbabwe, Swaziland, Zambia, Australia, Mauritius, China, India, Japan and soon Nigeria. Under the take-off plan, a SPAR store may be owned independently by a franchisee or be part of a chain, depending on the model applied in any given country.

BusinessDay has learnt that in the first five years, all SPAR stores will be owned by the company but in the second five years of its existence in Nigeria, it will allow and encourage its staff to branch out to become franchisees and subsequently other interested entrepreneurs will be admitted into the elite club of store owners.

One major transformation in the local market is the shifting position in the attitude of manufacturers who are now increasingly willing to sell directly to large retailers, marking a break from the past when they sold only to their accredited dealers and agents. For dealers in Nigeria, they would now have to reshape their business model to align with the changing business landscape. Despite the onset of the global economic meltdown, SPAR’s business has continued to do well around the world with retail sales area in China alone doubling to 300,000 square metres and the addition of about 100 hpermarkets and supermarkets.

Last year, SPAR’s international managing director, Gordon Campbell, spoke of the allure of Nigeria and hinted at his firm’s entry into the country. According to him, “Nigeria is a large developing market on the west coast of Africa with a population in excess of 150 million. We believe that it offers enormous potential for SPAR.”
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Old July 12th, 2010, 04:42 AM   #400
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about freaking time
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