How Developers are driving up the cost of Land in Lagos.

 How Developers are driving up the cost of Land in Lagos.

Land is gold in Lagos.

Lagos is the smallest state in Nigeria in terms of land area, and obviously the most densely populated. Housing is a major challenge for the city inhabitants as the Lagos State Government continues to struggle to meet the demands of the people.

A recent trend in property development especially in highbrow areas and generally all over the state the wholesale development of properties by private developers and it’s inherent increase in cost of purchase of land. Cost of land has astronomically increased over the past few years which is directly connected to Property Developers with humongous stash of cash, Let’s take Magodo G.R.A Phase II as a case study, it is an area I am very familiar with. Just a few years back, a plot of very scarce land in the estate will set you back around One hundred and Fifty Million Naira, the same land today will cost between Four hundred to Six hundred Million Naira depending on the size and location.

The reason for this is not far fetched, the demand for Land by these developers for their next project has driven up the cost of purchase, while the average person will want to get the best value to build his dream home, the developer isn’t particularly concerned with the cost and will always be willing to pay a higher price, even willing to offer a higher price to beat out the competition. Such a Developer can build four buildings on a parcel that will normally contain a single building. Imagine the profit maximized from such project.

Besides the prime examples of places like Old Ikoyi, Victoria Island and Lekki Phase I axis, Developers have also caused sharp increase in the value of land in places like Surulere, Ogudu, Omole Estates Phase I and II, Gbagada, Mushin, Festac.

While some industry experts will argue that it augurs well for the industry, others are of the opinion that it drives the price of properties further away from the reach of the ordinary Nigerian living in Lagos, it makes owning a home more like a pipe dream and that Lagosians in that category will have to seek land in the outskirts of town, where infrastructural amenities is still at infancy.

This is also true for major cities in the country and indeed around the world,

THE WAY FORWARD.

In a free market capitalist economy like ours, there is really little anyone can do about the increase in cost of land. The market dictates the price. What can be done instead is for the Lagos State Government to continue to invest in Mass Housing projects through Public- Private Partnerships to provide housing for as many people as it can while empowering it’s agencies to develop new towns and residential schemes. It has the New Town Development Authority for that. The Agency should seek out new areas where government acquired land will be available for individuals to buy and develop as was done in the 80’s which gave birth to so many Estates in Lagos today.

Muizz Kazeem.

November 2024.

Cybertruck....Engineering Efficiency

As a car guy ..I have watched exactly 8 videos totalling roughly 6 hours of reviews of the Tesla Cybertruck...Elon's latest reinvention and I must admit, Dude is a genius, ofcourse he didn't do it alone, but he surely pushed his team to get to the limits of engineering and design, the efficiecy of this revolutionary Truck is astonishing.

The technical details in the design, the in house production of basically all of its major technical parts. Consider that  the Cybertruck  has a smaller battery pack compared to the Hummer EV Truck, hence less horsepower and weight (always a good thing to weigh less) and uses these to beat the Hummer EV in every regard.

Engineering Efficiency is the most important factor to be considered when making EV's and Tesla just  about made the most efficient one yet.

Lekki Regional Road

The Lekki Regional Road – Taking Position for Real Estate Gains

The Regional Road - VGC to Freedom Way LEKKI PHASE 1

Earlier in the month, it was announced that the Lagos State Governor Mr. Babajide Sanwo-Olu has flagged off the construction of what was termed “The Regional Road” in the Lekki axis of Lagos state.

The 45m wide road, which is expected to span along a distance of no less than 8.7km starting from the Victoria Garden City Junction on the Lekki – Epe Expressway to Freedom Way in Lekki Phase 1 is due to be completed within an estimated period of 24 months.

The road, first conceived by the Lagos state government in the Lagos Metropolitan Master Plan (1980 – 2000), remained incorporated in the subsequent Lekki Comprehensive Master Plan of 2013. Layout approval for three other major roads – Coastal Road, Lagoon Highway and the well-known Lekki-Epe Expressway – was also granted at that time.

The project was inaugurated in 2017 by the former governor of the state, but various setbacks did not allow this to happen. This time it looks very much like a reality

Without a doubt, the most obvious beneficiaries of the regional road project will be commuters who ply that axis on a daily basis. However, this of course cannot be the only positive to be taken away from the project.

      

VGC INTERCHANGE

 

PROPERTIES TO BE RECLAIMED BY GOVERNMENT

Owners of property on the roads Right of Way (ROW) are bound to lose their investments, with the Lagos State Government having announced the revocation of right to parts of the Elegushi Royal Family’s Layout that fall within the road’s alignment, some parts of Cowrie Creek Estate will also be affected.

 

NEIGHBOURHOODS TO EXPERIENCE INCREASED VALUE

On the flip side though, positive impacts of the road are beginning to manifest even as the project is still in its early stages. Properties on the Ajah and Elegushi axis with New city projects on the Lekki Central Zone as well as those around the Lagoon District are set to experience a boom in value as a result of the ongoing road construction. Specifically, Ostia Island, Gracefield Island and Orange Island are just a few of the neighborhoods that are already garnering attention.

The inevitable upsurge in the value of properties lying along the corridor of the road as well as within its neighborhood will definitely be huge. One only has to be reminded that developments within these neighborhoods will be only a couple of minutes’ drive away from Ikoyi and Lekki to further appreciate how much of an appeal they will have.

 

     

CONNECTION TO FREEDOM WAY

Apparently, like the Lekki – Epe Expressway before it, with the completion of the regional road, new towns and developments will be opened up. This will mostly be comprised of residential and commercial properties. The road in the long run, will further accelerate the growth and development of areas within its proximity.

TAKE THE OPPORTUNITY

This is the time for the savvy investor to invest in properties strategically located along the path of the road. Check it out…..Remember, number one rule in real estate is Location!

 

Fluids you should maintain to keep your car in good shape

Your car needs these to be in shape.

A good way to keep your car in action between the major interventions is to check the fluids yourself. This is a cost effective and easy way to avoid engine wear or damage and to save your money. Although checking the fluids in your car is fairly straightforward. Here are seven liquids to watch out for to get your car running properly: 1. oil Your engine requires oil to keep the moving parts lubricated. To check the oil, take your car first for a short ride, then wait about five minutes for it to cool. Under the bonnet, the dipstick should be in the oil tank near the front of the engine. It's usually pretty easy to find. Remove the dipstick, wipe it off with a cloth or towel, and then immerse it in the oil tank. Pull it out again and see where the oil line is. The dipstick should have a notch indicating where a safe oil level should be. If it appears low, check the lid or the car manual for the type of oil you should use and then add something yourself. 2. Radiator fluid The radiator fluid protects your engine from overheating. If you have too little, there is a risk that your vehicle overheats in traffic and you are stuck on the side of the road. Check this fluid if your car has been driven and not when it is cold. The cooler contents are under pressure. Never remove the cover when the engine is hot or running. Probably the radiator cap is located at the front and in the middle of the engine compartment. Gently open it with a rag and look into the radiator to see if you can see the coolant. If you can not see it above, you will need to add more. 3. Transmission oil The transmission oil keeps your transmission lubricated, which can prevent the emergence of many expensive problems. The other oil dipstick in your engine is for your transmission fluid. Similar to the oil you just have to take out the dipstick, wipe it with a rag or cloth and put it back in the tank. Pull it out again to see how high the liquid gets on the rod. You also want to check the quality of the liquid. Grab your fingers and rub it around to see if it's pink or clear as it should be. When it smells burnt or contains particles, it's time for a change. 4. Power steering fluid The power steering fluid keeps your car's power steering functioning by keeping it lubricated and boosting your ability to steer the car's wheels. To check the power steering fluid, locate the reservoir under the bonnet. It's usually on the passenger side. In any case, it is likely to be near the straps and the cap is likely to show "steering". Most cars have an opaque container so you should be able to see the fluid level without opening the lid. Otherwise, clean the environment with a cloth before opening the cap to prevent dirt from entering the system. Then open the lid and use the dipstick as well as the oil tank. If the liquid level is low, you can easily add more by yourself. You may also want to check the reservoir to make sure there is no leak. 5. Brake fluid Your brake fluid is under pressure, increasing the braking force and preventing you from bumping into other vehicles. The brake fluid reservoir is usually located near the rear of the engine compartment. Clean the outside before opening the tank as dirt in the fluid in your system can be dangerous. To open the reservoir, simply unscrew the cover or pry off a clip with a screwdriver, which may hold it in place. Look in to see where the fluid level is. It should be within half an inch of the cap. If not, refer to your manual for the type of fluid you should add. Also check the color of the brake fluid. If it looks dark, have it replaced by a mechanic. 6. Air conditioning refrigerant When the weather warms, check the coolant level in your air conditioner to make sure it is ready for use. Checking this fluid can be a bit tricky, but it's better than having a mechanic handle it when you fill up more when it's not needed. Before you begin, you must obtain the correct AC meter and the right thermometer from an auto parts store. If your coolant level turns out to be low, you can easily recharge the system with accessories from the auto parts store. 7. Washing liquid The windscreen washer fluid does not keep your engine running but is very helpful so you can see it more easily while driving. Checking the washing liquid is easy. Most cars have opaque wash fluid tanks with a label on the cap such as "windshield" or "washer". You should be able to see interior without removing the cap. Otherwise, it should only rotate as the fluid is not under pressure or dangerous. If you need more fluid, do not use only soap and water. Get some washing liquid that has been developed for handling insects and road dirt. If you are completely out of the house because of a dirty drive, the window cleaner you use at home can be used until you get washing liquid.

10 Ways to take care of your car engine.

1.
Replace the spark plugs and cables

An easy way to proactively protect your engine is to replace the spark plugs and cables. The wires going out from your distributor send electrical current to the spark plugs, which then create a spark to ignite the fuel and air mixture in your cylinders. They are used frequently and can cause your engine to run very rough when they get too old.
When changing the spark plugs of your engine, be sure to change the cables at the same time to make sure you get the best possible spark plug current. If you change the plugs and cables regularly, it strengthens the life of the car. 

2.
Protect the starting and stopping of driving

Your engine is designed to operate, but runs much better and lasts longer when operated at a constant speed. It would wear off if you only increase the speed to stop every few minutes.
If possible, stay on the highway and keep speed and speed at a constant level. You'll find that fuel economy is better and your engine is likely to last longer if your driving habits allow relatively constant fuel consumption. 

3.
Replace the fuel filter

The fuel filter collects any particles or debris that are harmful to the engine and holds it in a canister, similar to your oil filter.If the filter has not been changed for a long time, it is a good idea to replace it to keep the engine running smoothly. If your filter is easily accessible, this repair is not too difficult. However, some filters may be difficult to achieve. If you can not access your car's fuel filter, take it to a mechanic to replace it.

4.
Follow-up when car warning lights come on
This may seem obvious, but if you fail to have your car checked when one of the vehicle's warning light comes on, you can neglect a serious problem. The engine test lamp and other warning lights may come on for a number of reasons. But you will not know until you get it checked out.

In addition to the typical check engine light, many cars have several other lights that indicates a problem. To protect your engine, either run a diagnostic test when the lamp is on, and then fix the problem yourself or take it to a qualified mechanic to test it and do the work.

5.
Check your belts

The function of a belt varies, but some of its main tasks are the operation of the fan, the water pump, the alternator, and the air conditioning.
When your engine is on, your belts will run. In other words, they are much used. They usually last a long time, but eventually show signs of wear and tear. If the belt breaks while driving, the engine can be severely damaged. Check your straps by turning them slightly to see if they show visible cracks. A twisting belt may also indicate that it needs to be adjusted or replaced.

6.
Fill up your gas tank before it gets too flat

Gasoline contains a certain amount of sediment that settles to the bottom of your gas tank. After years of driving around and many refueling operations, there may actually be a lot of garbage on the bottom of your fuel tank. Your fuel filter catches a lot of this sediment and keeps it away from the fuel lines of your car and your engine. However, if you drive your car to a stop all the time, pull out the rest of the barrel and all the extra garbage that has accumulated there.

If the sediment passes through the fuel filter, it may get into the engine and cause internal damage. It deposits dirt in areas where it should not be and causes your fuel system and other parts of your engine to work harder. It's recommend that you always have half a tank of fuel. You may not want to fill up that often, but make sure you do not empty the gasoline until it stops.

7.
Check for leaks

You do not have to be a mechanic to detect a leak. In fact, sometimes you do not even have to see it ,you can just smell it. Oil and antifreeze are the two main fluids that you want to make sure they do not come out of your engine.

Strong heat and pressure can cause the engine hoses to fail. Old and cracked rubber engine hoses may leak antifreeze or other liquids your engine needs. In other areas where leaks often occur, two parts combine with a rubber seal and silicone. Over time, these gaskets may break down, causing oil or other fluids to escape from the engine, or cause fluids to enter the wrong areas of the engine.

8.
Keep the engine breathing

Cars need a constant flow of air. In addition to fuel, air is the next essential ingredient to keep the engine running. The air must enter the engine continuously, without restriction and without deposits.
Air filters prevent external waste such as insects, leaves and dirt from entering the engine. Over time, these filters can become clogged with dirt and must be replaced. Depending on your driving habits and road conditions, an air filter can usually have a long life. However, if the filter becomes too dirty and does not do its job efficiently, it can either cause the lack of oxygen in your engine.

9.
Keep the cooling system running

In addition to the oil change, there is another aspect that you can not overlook; the cooling system. The cooling system consists of radiator, thermostat, water pump and coolant. The easiest way to protect your engine from overheating is to ensure that the right amount of coolant is circulating in your engine.

The coolant circulates through your engine when the thermostat detects that the engine is getting hot and needs to be cooled down. The water pump then sucks coolant out of the radiator, sends it into the engine block and then back to the radiator to cool it down. To inspect the coolant level, lift the hood and look at your coolant tank. It is a clear tank with a green or orange liquid. Make sure that the coolant is above the minimum level but below the maximum level.

10.
Change the oil regularly

It's vital to regularly change the oil of your engine. Oil keeps important engine parts well lubricated so they do not overheat. Your engine will not work without it, and if you wait too long between oil changes, your engine may be permanently damaged over time.

Suggestions on when to change your oil varies, but the latest standard for modern cars is to change oil every 8,047 kilometers. Some engines can run longer, while some older engines require it earlier. Since it is about proactively protecting your engine, be sure to read the car manufacturer's recommendations for the oil change interval of your vehicle.

Bugatti Centodieci

The new Bugatti Centodieci, Only 10 will be made, price tag of £8 million and to qualify to buy, you must have had either a Veyron or Chiron in your collection.    Well, it got sold out at the unveiling.

Smart locations to import your cars from the USA

When buying your car from USA, one thing you should never overlook is the distance between the location of the car and the closest port of exit. This is very critical because it's a major determining factor of the total cost of landing your car to Nigeria especially for those on a budget. If you don't pre-determine the distance to the closest port before buying your car, you may end up paying up to additional N900,000 ($2,500) to transport your car within the United States in a bid to get it to the port. Then you'll pay another N306,000 ($850) as ocean freight from the US port to the Nigerian port. That's a total cost of N1,206,000 ($3,350) as against a total cost that can be as low as N360,000 ($1,000) if the car is purchased at a location very close to the port. Certainly, no one will be happy with such a deal. Don't make the mistake of buying a 2005 Toyota Corolla from Alaska thinking you will get it to Nigeria at a good price. The trucking and shipping cost alone will shake your bank account without mercy.

I decided to write about this because it's one of the most popular questions we receive from our Autojosh followers. Some were even forced to ask after they had made the mistake of buying their cars from a wrong location. One bought his car in Alaska while the other bought his in Hawaii. They were excited by the cheap prices they saw on online auctions but immediately realised it was a bad idea when they received the invoices from their shipping agents after the bids had been won. The person that bought from Hawaii got an outrageous bill of about $3,700 to get his 2006 Toyota Rav4 to Lagos. They eventually returned the cars to wherever they were bought as shipping to Nigeria wouldn't have made any economic sense. Note that auction companies usually charge a fees for such returns.


Photo from marylandports.com

Today, we'll be looking at the location of 11 USA ports through which you can easily ship your cars to Nigeria as well as the Shipping lines that sail from those ports:

1. Baltimore, Maryland: Grimaldi and Sallaum Shipping Line

2. Boston, Massachusetts: Sallaum

3. Freeport, Texas: Sallaum

4. Galveston, Texas: Grimaldi.

5. Jacksonville, Florida: Grimaldi and Sallaum

6. Newark, New Jersey: Sallaum

7. New York (NYCT): Grimaldi

8. Philadelphia, Pennsylvania: Sallaum

9. Providence, Rhode Island: Grimaldi

10. Savannah, Georgia: Grimaldi

11. Wilmington, Delaware: Grimaldi

Most people prefer to ship their cars through Grimaldi as the cost of clearing cars that arrive on Sallaum can be more expensive especially in the case of more recent cars.

After you've determined the port through which your car will be shipped, the next step will be to calculate the shipping cost. Our next post will be about how to calculate the estimated cost of shipping your car from USA to Nigeria.

Is there any other port or shipping line you've shipped through recently? Tell us about it in the comment section if we don't have it on this list.

Don't forget to like, rate and share.

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