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Lagos directs commercial properties in Ogudu GRA to produce planning permits

The government said it would not hesitate to apply appropriate sanctions on erring property developers.

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The Lagos State Government has asked owners of commercial buildings in Ogudu GRA to produce their enabling building permits.

The request follows repeated contraventions of the state’s physical planning laws by some recalcitrant individuals and organizations.

While speaking on the development, the Lagos State Commissioner for Physical Planning and Urban Development, Dr Idris Salako, expressed the State government’s determination to stop the flagrant abuse of its planning laws and engender a culture of compliance among the people.

Salako said, “The Ministry of Physical Planning and Urban Development, on Wednesday, served contravention notices and stop-work orders on 38 commercial buildings, including banks, eateries, malls and hotels on Ogudu Road in Ogudu GRA in line with our determination to curb flagrant disobedience of the law.’’

“We shall continue to enforce compliance and sensitize the people to do the needful so that we can achieve in earnest our goal of an organized, orderly, livable and sustainable environment for the benefit of all.’’

The Commissioner reiterated that government would not hesitate to apply appropriate sanctions including sealing and pulling down of contravening buildings, where necessary, as well as the imposition of penalties on erring property developers.

Going further, Salako warned property developers not to confuse penal fees with approval to go ahead with construction of the illegal building, saying that reliance on payment of penal fees alone to continue developing a building would amount to an untoward act which is reprehensible.

He said, “To discourage unapproved building construction, the penalty is usually imposed for non-conformity with building approvals such as illegal change of use, altering a number of units or floors and unapproved renovation among others.’’

While maintaining that the penal fee was cautionary and only a condition precedent to making the right submissions to the approving authorities, Salako urged property owners and developers to always make honest submissions when applying for Planning Permits and ensure strict compliance to the dictates of the permit granted by the Lagos State Physical Planning Permit Authority (LASPPPA).

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Companies

Dangote Sugar proposes N18.2 billion as final dividend for 2020

Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders.

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The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020.

This announcement was contained in the audited financial statement of the leading integrated sugar company.

In line with the statement of the Board of DSR, the approval of this proposed dividend at the forthcoming Annual General Meeting will see Dangote Sugar pay out a final dividend of N1.50 for each of the outstanding 12,146,878,241 ordinary shares of the company, held by its shareholders.

The proposed dividend is 36.36% higher than the final dividend of N1.1 per share (N13.36 billion) the sugar company paid its shareholders in 2019.

What you should know

  • Dangote Sugar Refinery declared in its audited statement for the period ended 31st December 2020 that its profit for the year climbed to N29.8 billion, from N22.4 billion in 2019.
  • According to these figures, DSR’s earnings per share for 2020 are pegged at N2.45. Hence, with a dividend of N1.50 per share, Dangote Sugar is set to payout 61.2% of its profits for 2020.
  • At the close of trading activities on the floor of the Nigerian Stock Exchange today, shares in Dangote Sugar Refinery declined by 0.83% to close lower at N17.85.
  • At this price, the dividend yield of Dangote Sugar shares is 8.40%.
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HOSPITALITY & TRAVEL

FG approves reopening of Osubi Airport, Warri for daylight operations

Osubi Airport will be opened for operations in daylight in VFR conditions and observe COVID-19 protocols.

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The Federal Government approved the reopening of Osubi Airport, Warri, Delta State for daylight operations on Monday.

This was disclosed by the Minister of Aviation, Hadi Sirika, via his Twitter handle on Monday.

According to him, the facility will be opened for operations in daylight in VFR conditions, while observing COVID-19 protocols.

He tweeted, “I have just approved the reopening of Osubi Airport Warri, for daylight operations in Visual Flight rules (VFR) conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.”

VFR are a set of regulations under which a pilot operates an aircraft in weather conditions generally clear enough to allow the pilot to see where the aircraft is going.

What you should know

  • The Airport, which was commissioned on 17th April 1999 by the former Minister of Aviation, Captain Briggs, is managed by the Federal Airports Authority of Nigeria (FAAN).
  • In 2020, the Federal Government, in a letter to all the aviation parastatals, had allegedly terminated the contract of Shoreline Oil Services Limited, the operator of the airport, with immediate effect, citing incompetence.
  • The facility has been a subject of controversy since it changed hands from the original owner, Shell Petroleum Development Company (SPDC), to Shoreline in partnership with the Nigeria National Petroleum Corporation (NNPC) in 2015.
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Business

US Ambassador opens centre in Lagos, to boost entrepreneurial skills among Nigerian youth

US Ambassador to Nigeria has launched a centre where youths can gain entrepreneurship skills through programs and workshops.

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The United States Ambassador to Nigeria, Mary Beth Leonard, opened the first-of-its-kind Window on America in Nigeria on Monday.

The Centre is expected to serve as a community center where young people develop their ideas, as well as their leadership and entrepreneurship skills through programs and workshops designed especially for them.

This was disclosed in a statement shared by Temitayo Famutimi, Information Specialist, Public Affairs Section (PAS), U.S. Consulate General and seen by Themoneymetrics.

According to the statement, the Centre, which was Hosted at the Lekki Slum2School Innovation Hub in Lagos, is as a result of a partnership between the US Consulate General, Lagos and Slum2School Africa, founded by Otto Orondaam, a 2016 alumnus of U.S. government’s Mandela Washington Fellowship.

The Ambassador noted that the new Window on America is open to everyone in the community, offering its services, programs and resources to the public at no cost.

She said, “We are happy to open the very first Window on America space in Nigeria here in Lekki.

“In the next few months, we will follow with six additional new Windows on America in the south and 12 across the country. We want our Windows on America to promote mutual understanding between the United States and the people of Nigeria.”

In addition to providing public programming space, the Lekki Window on America will support five core programs: English language learning, educational advising, alumni activities, cultural programs, and information about the U.S.

What you should know

  • Visitors to the window will typically include students, teachers, entrepreneurs, academics, journalists, civic organizations, government officials, and community leaders, in addition to many others.
  • Windows on America are American spaces that provide welcoming environments where visitors can learn about the United States, including its government, history, culture, and educational system through programs, lectures, books and electronic resources provided by the U.S. Government.
  • In addition to the Lekki Window on America, 12 more will be opened in major cities across the country, including Abeokuta, Awka, Benin City, Enugu, Osogbo, Uyo, Zaria, Minna, Dutse, Makurdi, Gombe and Lafia, in order to engage more Nigerian audiences in their local communities.
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