Lagos to knock down 297 properties for 37-km new rail line project

The Lagos State Government is looking to begin the first phase of the construction of a 37km new rail line. To begin this construction, it is being proposed that properties numbering to 297 will be demolished as they are on the Right of Way (RoW). To carry out this task known as the Lagos Rail Mass Transit (LRMT), the services of the Nolasimbo Consulting Engineers and Partners Limited and Global Impact Environmental Consulting Limited have been engaged by the Lagos Metropolitan Area Transport Authority (LAMATA) to identify all affected persons affected by the project. This is also to be extended to businesses, premises and structures.
The construction of this railway is  part of Lagos Rail Mass Transit (LRMT) and it is expected to run through Oyingbo to Agbado in Ogun State, cutting through residential and office buildings in Mushin, Yaba, Ikeja among other highly populated areas.

The Managing Director, Lagos Metropolitan Area Transport Authority (LAMATA), Abimbola Akinajo, told The Guardian that the list of affected persons have been published in accordance with World Bank standard. Inspite of all, there is good news for residents who will be displaced as a result of the demolition. Assumptions sparkling imply that  since the project is funded by the State Government, they will want to handle compensation issues as stated in the Land Use Act of 1978, which is the applicable law regarding ownership, transfer, acquisition and all such dealings.

In line with the Land Use Act,all land in every state is vested to the State Government, while individuals only enjoy a right of occupancy; if such lands are revoked, the claimant is entitled to the value of the unexhausted development as at the date of revocation.

FCT’s Jabi Lake project to cost $21 million, says ICRC

Jabi Lake, a much loved relaxation spot in the FCT has been biled to undergo an improvement project that will cost $21 million, this is according to the Infrastructure Concession Regulatory Commission (ICRC).The said project which has been said to be phenomenal is said to generate over ₦123 billion naira revenue over the next 30 years. This is asides the current ₦1.5 billion naira revenue already generated by Jabi Lake. In his address, the ICRC boss has called on the FCT’s Minister to support the project and secure a transaction adviser to guide the administration in the process.
In receiving the certificate, the FCT’s minister, Dr. Ramatu Aliyu reaffirmed that alongside the current work of the FCT, the administration has a mandate to lift 100 million Nigerians out of poverty. To achieve this, the administration will be working with the private sector. Considering the revenue Jabi Lake is already pulling in, the collaboration with the ICRC will transform the Lake into a tourist destination.

Biden Earmarks $213 billion for Affordable Housing in his New Infrastructure Plan

As part of his resolve to improve the lives of the residents of the United States, President Joe Biden has committed $213 billion to improve the infrastrucre across the country. this budget will account for low income households and home buyers on a strict budget.
This comes as a response to the information that across the country, many residents spend more than half of their income on rent while struggling to pay for all other expenses. Not only will the expense take care of this, but  will also alter exclusionary zoning laws that are responsible for the increasing housing deficit across the country. To be executed, this plan will rely heavily on an increase in taxes, in addition to the use of tax incentives to encourage states and municipalities to relax strict zoning laws.



Most Recent

Social Media

Popular Categories

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.

Related Posts

Weekly Briefing

Lagos to knock down 297 properties for 37-km new rail line project The Lagos State Government is looking to begin the first phase

Stocks vs REITs vs Bitcoin

With the trends in the economy of the country, it is no surprise that many individuals are looking to diversify their investments

Weekly Briefing 29/02/2021

FG unveils affordable housing cooperative scheme in Lagos The Federal government in a bid to reduce the housing deficit across the country