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Construction To Start On FESTAC II As Firm Orders Removal Of Illegal Structures​


July 30, 2015

The management of Messrs New Festac Property Development Company Limited, the concessionaire of the FESTAC Phase II project, has warned people to desist from erecting illegal structures on the site.

“Anyone erecting illegal structures on the designated land should remove them and desist from further encroachment. Such illegal structures will be promptly displaced or removed,” the Executive Vice-Chairman, NFPDCL, Mr. Isaac Chuks, said during a tour of the project.

Chuks said over the years, there had been significant encroachment on the land by land speculators and illegal squatters.

“This trend has continued unabated in spite of all the caveats, publications and warnings. And not surprisingly, efforts to reclaim and develop the remaining 1,126 hectares of the FESTAC land since the early 1980s have been unsuccessful due to the huge capital cost to develop such land,” he said.

The FESTAC Phase II project is a public-private partnership being driven by the Federal Housing Authority, with the NFPDCL as a special purpose vehicle, solely established for the reclamation, designing and construction of a modern city to be known as Imperial City on the 1,126 hectares of land left out of the Federal Government’s acquired 2,024 hectares for the hosting of FESTAC ’77.

The project was first advertised in 2006 by the Federal Ministry of Lands, Housing and Urban Development through its implementing agency, the FHA, and was finally awarded to the New Festac Property Development Company Limited in April, 2013.


“It is projected that within the first year of operation, this development will generate more than 10,000 jobs, ranging from equipment operators to various engineering personnel; not to mention thousands of other ancillary jobs. By the end of this project, about 95,000 living apartments of various sizes and structures would have been delivered.”

Chuks said that upon the completion of the project, billions of dollars would be injected into the economy through Foreign Direct Investment.

He said as part of the continued negotiations, the Federal Government’s projected earnings under the concession were reviewed upwards prior to the award in April 2013 and currently stood at N25.765bn, as premium for the 30-year concession, and additional N150m annual ground rent with a moratorium of three years.
Source: Estate Times, Nigeria and 3investonline​
 

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KEEP LOVING IT.

WAO! The private sector is taking over Lagos! And I love it!!!! Since the Government has failed over the years in urban planning and infrastructure, the private sector will give Lagosians/Nigerians what we deserve!




I am glad Nigerians are beginning to get the gist of the argument......by Governments , most Nigerians would reference the President .




But in truth, federal government cannot be planning your towns and cities.....that should be down to local governments and municipal administrations to build.



But since we in Nigeria can't understand that, it is now good to see the private sector leading the way.
 

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I am glad Nigerians are beginning to get the gist of the argument......by Governments , most Nigerians would reference the President .




But in truth, federal government cannot be planning your towns and cities.....that should be down to local governments and municipal administrations to build.



But since we in Nigeria can't understand that, it is now good to see the private sector leading the way.
I don't know what is really wrong with our state government, city planning is not in their agenda at all. Many states don't have master plan and those that has master plan are parading the outdated one. I don't know what it takes them to mobilise the state urban and regional planning department to move to field and design decent master plan that will guide our city expansion instead of the haphazard expansion we are seeing everywhere.
 

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Why don't we have city governments? the local government idea is a mess/not enough
In NY has a government dedicated to the city of NY, Lagos should too. Not a state government or several local governments that can't coordinate a single strategy and thus have to bank on a state government. Every major city in the world has a government dedicated to that city. A place as important as Lagos shouldn't be administered as a 'part' of the state government agenda.


This is a nice development though, Festac needs revitalization
 

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^^ To me, I in fact think the "local Government Areas" method is an effective way to better manage a city, as the area to manage is much less....garbage collection, street cleaning, tree planting, road repairs will be better tracked....but it's not happening! And trust me, it's not because "they are not together"....history of Nigerian politics shows that "bigger body" means even bigger mismanagement and total lack of responsibility. Even New York city has "boroughs", which are more or less like local governments. Maybe or maybe not Lagos needs a Mayor to oversee it's LGs like New York has for its boroughs...i don't know. But best bet is; if it does, there still wouldn't be a difference! The "structure" of Nigeria has never been the problem, the problem has always been not thoroughly following the processes that the structure we have chosen entail!
 
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